City Ottawa Financial News

By Steve Scherer

OTTAWA — Canada must build more electricity generation in the next 25 years than it has over the last century in order to support a net-zero emissions economy by 2050, according to a new report from the Public Policy Forum.

The union representing roughly 7,400 British Columbia port workers issued a 72-hour strike notice Wednesday, hours after the federal labour minister deemed its impromptu strike “illegal.”

Shopify wants to cut down on ‘meeting creep’—the way meetings seem to proliferate on corporate calendars like mushrooms across a shady lawn. Earlier, the company axed recurring meetings of three or more people and went in for no-meet Wednesdays. Now, the Ottawa-based e-tailer has integrated a meeting-cost calculator into its calendar app.

Many more Canadians will begin receiving Ottawa’s climate action incentive payment starting Friday.

Canadian local news providers are set to take a revenue hit amid fallout from Ottawa’s Bill C-18, the head of a national media group warns in a letter to advertisers urging dedicated spending to support smaller players.

A tornado touched down in Ottawa’s west end on Thursday afternoon.

(Bloomberg) — The Bank of Canada raised interest rates for a second straight meeting, pushing back the timeline for inflation’s return to target while revising growth upward.

By Steve Scherer and Ismail Shakil

The Canadian Federation of Independent Business says “enough is enough” when it comes to the ongoing work stoppage at B.C. ports and is calling for an end to the strike that it says has affected half of small businesses in the country.

A Canadian House of Commons committee report has recommended that the country “recognize blockchain as an emerging industry,” and take all the steps that entails. There are a lot of steps needed, it said.

All six of Canada’s main commercial lenders now expect the Bank of Canada to raise interest rates this week after the country’s labour market tripled expectations in June.

Khalistani elements on Saturday. While no untoward incident took place as the countries responded with a show of strength and kept mobs at bay, India is looking for such strong security measures as a matter of norm to deal with future threats as well.

India said on Thursday in a message to countries such as Canada, Australia, the US and the UK where pro-Khalistan groups issued posters with threats against senior Indian diplomats. The safety of the diplomats and security of the Indian missions are of utmost priority to the government and New Delhi has taken it up with countries concerned, Arindam Bagchi, the spokesperson in the Ministry of External Affairs (MEA), said.

Ottawa has published a new set of guidelines to standardize how Canada’s federally regulated lenders offer mortgage relief to consumers struggling under the weight of higher interest rates.

Inflation, higher interest rates, and declining real estate values are worsening wealth inequality in Canada, with younger households bearing the brunt of the financial pain. The richest 20% of households controlled 67.8% of net worth in the country in the first quarter, while the bottom groups accounted for 2.7%, Statistics Canada reported Tuesday in Ottawa.

sleep deprivation can take a toll on our mental as well as physical health. There are several studies that have emphasised the importance of sleeping at least seven hours a day. However, recent research has found that when it comes to nap time, quality trumps quantity. A study published in the Journal Of Neuroscience explored how sleep ( or lack of it) affected cognitive functions. The study concluded that people who sleep less than six hours at night but do not experience daytime drowsiness exhibited large regional brain volumes in comparison to those who sleep seven to eight hours or report sleep issues. “If you find your sleep pattern to be good for you, then I think that's all right," told Dr. Elliott Lee, a sleep specialist at The Royal, Ottawa's mental health center to CBC News. However, some said that more sleep, especially daytime napping can improve cognitive skills, thereby helping people grasp abstract concepts faster. “People can practice learning a new skill all day, and then they take a nap and they get way better. So there is something about sleep that helps consolidate and organize the brain," told Dr Brian Murray, the head of neurology at Sunnybrook Health Sciences in Toronto to the news outlet. However, don't give up on sleep. Here are a few reasons why you should prioritise getting more shut-eye time.

India strongly raised the matter of Khalistani threats and vandalism with Canada, the United States and Australia, said people with knowledge of the matter. Close on the heels of Prime Minister Narendra Modi’s US visit, the Indian consulate in San Francisco was allegedly vandalised by Khalistani separatists, drawing a sharp condemnation from the United States State Department. “The US strongly condemns the reported vandalism and attempted arson against the Indian Consulate in San Francisco on Saturday.

India has taken action by serving a demarche on Canada, calling for strong measures to be implemented by the Justin Trudeau government to prevent protests organised by pro-Khalistan terrorist outfits. The demonstrations are set to occur outside the Indian High Commission in Ottawa, as well as two consulates in Toronto and Vancouver on July 8. The primary concern is to avoid incidents such as desecration of the Indian flag, affixing pamphlets or items to the boundary fence, and throwing projectiles into Indian diplomatic premises in Canada.

As Canadians grow more concerned about rising inflation, competition across different sectors of the economy has become a “kitchen-table issue” at a time when the federal government is reviewing its competition law.

OTTAWA — Finance Minister Chrystia Freeland says Canada will halt all government-led activity at the Asian Infrastructure Investment Bank after a Canadian citizen tendered his resignation from the financial institution.