Canadians are projected to spend 13% less on gift-giving this year as they save money for essentials, but that doesn’t necessarily mean Black Friday will be a total bust for retailers.
Canada’s biggest private unions are looking for some of the largest pay gains seen in a generation to make up for the damage inflation has inflicted on consumer purchasing power.
The Bank of Canada (BoC) is on track to give “monetary tightening” a whole new meaning by losing between $5 billion and $6 billion over the next few years.
The US military is looking to fund mining projects in Canada to boost friendly supplies of critical minerals, like lithium and cobalt, per the CBC.
Why it matters: Canada is not a significant producer of most critical minerals, but that could change if the US military tosses a few hundred million dollars into the sector.
Unilever, the multinational giant that owns brands from Ben and Jerry’s to Dove soap, is the biggest corporation yet to give a big thumbs up to a potential four-day workweek.
The US Federal Reserve raised interest rates by 75 percentage points, bringing its benchmark rate range to 3.75%-4% and effectively making any type of debt (mortgages, credit cards, auto) a little bit pricier.
The feds have flicked on a big, bright “OPEN” sign with a new three-year immigration plan to get skilled workers into the country (and address that darn labour crunch).