Canada Financial News

covid-19 pandemic and the induced lockdown, outbound tourism from China was a valuable international commodity. Statistics from the World Tourism Organization suggest Chinese travellers spent $255 billion in 2019, accounting for 20 per cent of all international tourism spending.

The CFA Institute canvassed 90,000 of its global membership and found that only 42% were in favour of central banks launching their own digital currency with 34% opposed to the idea and 24% having no opinion.

International Trade Commission launched the investigation in January in response to a petition from the United Steelworkers union and Ohio-based Cleveland-Cliffs, which owns one of the few remaining tinplate plants in the U.S. They said cheap steel imports were hurting U.S. steelmakers and domestic jobs.

The Matildas may not have won on the scoreboard on Wednesday night, but they have gone down in history for smashing audience records that have lasted two decades.

Origin Energy expects earnings in its energy markets business to improve this year before a softening in electricity profits as tariffs finally turn south.

Canadians are starting to look at digital assets as more than just speculative investments, seeing them instead as legitimate assets for everyday transactions, according to Coinbase’s country director for Canada.

Kaavaalaa' fever! The charm of the hit song from the movie 'Jailer,' featuring Tamannaah Bhatia and Rajinikanth, is now a global phenomenon. The peppy song has captured the attention of international audiences, particularly in Japan. Joining the 'Kaavaalaa' trend, Japanese Ambassador to India Hiroshi Suzuki created a dance video with Japanese YouTuber Mayo San.

A massive wildfire in northern Canada is approaching the capital of the Northwest Territories and could reach Yellowknife's outskirts by the weekend if rains doesn't come. This year, Canada is facing its worst wildfire season ever, with over 1,000 active fires, including 230 in the Northwest Territories. Thousands have evacuated from remote communities, and the hamlet of Enterprise near Alberta was almost entirely destroyed by a recent blaze, a Reuter report cited Northwest Territories Premier Caroline Cochrane urged people to remain calm and cautioned that highways could close suddenly because of the fire risk.

Strength in the energy sector helped buoy Canada’s main stock index to close flat on Wednesday while U.S. markets moved lower.

Ottawa’s corporate-ethics watchdog has announced an investigation into fashion company Ralph Lauren over the alleged use of forced labour in its supply chains, while putting a Toronto-based mining firm on notice.

As pressure mounts on the federal government to take a more active role in filling the housing supply gap, the minister in charge of the portfolio is exploring new — and potentially old — approaches to getting homes built.

Size and energy allowed Kraken to stay in Canada after the imposition of new registration requirements for crypto exchanges in February. But in spite of the demanding process, the regulatory clarity has benefited the company, Kraken managing director for Canada Mark Greenberg said.

Jeremy Koven, the president of Canada-based crypto exchange CoinSmart and president at WonderFi, pointed to areas of concern for crypto firms in the United States looking for regulatory clarity and favorable tax policy. 

Canadian financial institutions are increasingly taking an interest in crypto as regulatory clarity emerges in the country, according to WonderFi CEO Dean Skurka, who met up with Cointelegraph at the Blockchain Futurist Conference in Toronto.

In this week’s newsletter, read about CBS Studios’ receiving approval for Star Trek NFT trademarks, check out how FC Barcelona acquired investment for its nonfungible token (NFT) initiative, and find out why NFT project y00ts is bridging to another network just months after its previous transfer. In other news, Canadian authorities are trying to create a repository for seized crypto and NFT assets, and don’t forget this week’s Nifty News, featuring Coca-Cola releasing an NFT collection on Coinbase layer 2, Base. 

Hyundai Motors North America has issued a safety recall of 63,128 cars in Canada and the United States.Of those recalled vehicles, 11,120 are in Canada, Jennifer McCarthy, a spokesperson for the company, told Global News Wednesday.The vehicles are being recalled as a safety measure due to an issue with the transmission electric oil pump for the Idle Stop & Go System (ISG), which poses a potential fire risk.The model year 2023-24 Hyundai Palisade vehicles and model year 2023 Tucson, Sonata, Elantra and Kona vehicles produced for sale in the U.S. and Canada have been affected by the recall.McCarthy said owners can continue to drive the affected vehicles, but they are being advised to park these cars outside and away from structures until the recall remedy is completed.She added that owners of the recalled vehicles will be notified by mail with instructions to bring their vehicles to a Hyundai dealer to inspect and replace the electric oil pump controller if required.“The transmission electric oil pump for the Idle Stop & Go System (‘ISG’) in the subject vehicles might have been assembled with printed circuit boards (‘PCB’) that were damaged during manufacturing by the oil pump controller supplier,” McCarthy said.“A damaged capacitor on the pump controller PCB could impact electrical operation leading to heat damage to the electric oil pump circuit board, connector, and wiring harness.

The British Museum says a member of its staff has been dismissed after items were found to be missing, stolen or damaged

By Isla Binnie

Netflix is initiating a limited beta test for a small cohort of members in Canada and the United Kingdom. The test will debut on select TVs starting Monday, and in the coming weeks, it will extend to PCs and Macs via Netflix.com on compatible browsers. Having initially entered the gaming sphere by launching games for mobile devices in November 2021, Netflix has been working to broaden its gaming offerings.

Rajinikanth's latest film 'Jailer' has hit it out of the park at the worldwide box-office. On the sixth day since its release on August 10, the movie has breached the Rs 400 crore-mark, globally, according to film trade analysts Manobala Vijayabalan and Ramesh Bala. 'Jailer' earned Rs 64.27 crore on Independence Day (Day 6), taking its worldwide total to Rs 416.19 crore.

Federal Opposition leader Peter Dutton will formalise the Coalition’s official position on nuclear power, including possibly overturning the 1998 ban, to take to the 2025 election, saying Labor was putting “party interests ahead of the national interest”.