Weekly Digest – 5 July 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Will there be a recession in Canada? What the latest data tells us

Canada’s economy is showing signs of underlying strength as some consumers and businesses brush off recession fears, a flurry of data releases suggest.  Some say the door is open for the Bank of Canada to pause its rate hike cycle, while others feel it’s too soon for the central bank to declare victory.

Google ends news availability in Canada, citing Bill C-18 concerns

A week after Bill C-18 received Royal Assent, Google confirmed that it has taken the “extremely difficult decision” to remove links to Canadian news from its Search, News and Discover products in Canada. The company’s president of Global Affairs, Kent Walker said, “Bill C-18 has become law and remains unworkable.”

Port workers across B.C. went on strike Saturday morning

Labour talks continue in B.C. port workers’ strike that could have major economic impact. The International Longshore and Warehouse Union Canada (ILWU) had issued a 72-hour strike notice on Wednesday, and officially walked off the job at 8 a.m. Saturday.

Canadian Government funding for agri-food businesses

Canada’s agriculture business sector is significant for the country and the global community. The Perennial Crop Renewal Program (PCRP) provides up to $15 million in funding to eligible British Columbia-based perennial crop producers. To learn more read here.

Study reveals dwindling interest in EVs among Canadians, despite government push

Canadians are less keen to purchase electric cars in 2023 than they were a year ago, according to a consumer survey out Thursday, despite a government policy push for widespread adoption of zero-emission vehicles.

Canadian shoppers dubious about ‘green’ products

Most Canadian consumers doubt green-branded products are as kind to the environment as they claim, and many dislike the extra cost and effort to shop sustainably, according to a survey by Deloitte.

Clean Fuel Regulations kick in across country – will Canadians pay more at the pump?

The regulations only target gasoline and diesel refiners and importers, rather than directly affecting consumers like carbon pricing does. These industries are required either to generate their own credits by reducing their own emissions or buy credits from other sources. While the costs are not directly applied to consumers, the companies that must pay for credits could pass them on indirectly.

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