Wage growth in Canada has been flying high this year, to the point where it has actually outpaced inflation. But new data from Indeed suggests it could be coming down to Earth.
Driving the news: Advertised pay rates for new openings have been steadily decelerating, per Indeed, settling in at a 4% year-over-year increase in May, down from a peak of 5.3% last August. Deceleration was mainly driven by slowing wage growth for higher-paying jobs.
Canada’s marquee tech conference is descending on downtown Toronto this week.
Driving the news: Over 700 speakers and 40,000 attendees—from business leaders and investors to politicians and professional athletes—are flooding the Enercare Centre from around the world to share ideas, (hopefully) ink deals, and catch a Blue Jays game after.
If you’ve been on the internet for more than three weeks, you’ve likely come across the phrase “Okay, Boomer.” We’ve been blaming baby boomers for a lot of stuff lately, but the truth is, they might be keeping entire families afloat.
Have you heard about INS018_055? No, it’s not the name of Grimes and Elon Musk’s newest child. It’s a potentially groundbreaking AI-designed drug.
What happened: Biotech company Insilico Medicine has moved to a phase two clinical trial (the stage determining an experimental drug’s efficacy) for its lung disease drug called INS018_055—a first for a drug that’s entirely “AI-discovered-and-designed.”
The cost of raising a roof is going through the roof.
Driving the news: The average cost of building a home or apartment complex in 11 major Canadian cities was up 54% in the first three months of 2023 compared with the same timespan in 2019, per The Globe and Mail.
Even though it’s making headlines, lab-grown chicken is the least of the plant-based meat industry’s concerns right now.
Driving the news: Plant-based meat is the latest victim of high-interest rates and inflation, with a rash of startups lining up for the slaughterhouse as investments dry up, production costs surge, and shoppers looking to cut grocery bills opt for the real, cheaper thing.
When your colleagues ask how your weekend was, you can say, “Much more chill than Vladimir Putin’s, that’s for sure.”
Driving the news: Russia was engulfed by unrest over the weekend when mercenary leader Yevgeny Prigozhin led his Wagner Group troops to within a few-hours drive of Moscow before abruptly abandoning his mutiny and going into exile.
Most of us use AI chatbots for mundane, day-to-day tasks like drafting memos or meal planning. But in India, they’re giving the nation’s poorest populations a leg up.
Driving the news: A new wave of AI chatbots in India can help citizens seek legal justice, advice, and career support. One developer found that some people had given up on getting aid or information due to language barriers and bribe demands from government officials.
Driving the news: One of Canada’s biggest bread producers, Canada Bread, plead guilty to a years-long price inflation scheme unveiled by a Competition Bureau crackdown. The firm will be on the hook for a $50 million fine—the highest ever imposed by a Canadian court.
A new report about the future of Canada’s energy sector begs the question: What are we going to sell in a world where nobody wants oil?
Driving the news: For the first time, Canada’s national energy regulator looked into what would happen to Canadian oil and gas revenues if the world met its net-zero goals. While plenty of countries are still more than happy to buy Canada’s oil—for now, at least—the report shows the country’s oil production could plummet 76% below 2022 levels by 2050.
Are we setting ourselves up for another 90s dot-com market bust? A gap between the top ten S&P 500 stocks and the other 490 has some experts worried that investors are putting all their investment eggs into too tech-centric of a basket.