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Canada’s GDP Growth Driven by Government Wage Increases

Canada’s economy showed modest growth in the second quarter of 2024, with real GDP increasing by 0.5%. However, a closer look at the data reveals that a significant portion of this growth can be attributed to rising government wages and spending. Government expenditures rose 1.5% in the quarter, primarily due to increases in employee compensation […]

Canada’s Economy Stagnates In June, GDP Unchanged

Canada’s economy stagnated in June, with real gross domestic product remaining essentially unchanged following a 0.1% increase in May. The latest data from Statistics Canada reveals a mixed economic picture, with goods-producing industries experiencing their largest decline since December 2023. The manufacturing sector was the primary driver of the downturn, contracting 1.5% in June and […]

Construction Union Demands Pause on Foreign Worker Program Amid Abuse Claims

The International Union of Painters and Allied Trades (IUPAT) is urging the Canadian government to pause the Temporary Foreign Worker program in the construction sector, citing “rampant” employer abuse. The union is calling for an independent audit to investigate the extent of fraud and misuse within the program. The demand comes after IUPAT’s local unit […]

Brazilian Court Threatens to Pull Plug on X Over Legal Dispute

X is on the brink of being shuttered in Brazil as a legal battle intensifies between the company’s owner, Elon Musk, and Brazil’s Supreme Court. The dispute centers around compliance with local laws and accusations of censorship. On Thursday, X announced it expects Supreme Court Judge Alexandre de Moraes to order its shutdown in Brazil […]

Laurentian Bank Faces Sharp Profit Decline as Revenue Falls and Credit Losses Rise

Laurentian Bank of Canada (TSX: LB) announced a significant decline in its third-quarter profit, reflecting ongoing challenges in a fluctuating economic environment. For the third quarter of 2024, Laurentian Bank reported a net income of $34.1 million, or $0.67 per diluted share. This marks a substantial 31% decrease from the $49.3 million, or $1.03 per […]

Heritage Cannabis Sees Assets Sold Off Under CCAA Process

Another cannabis company has seen its assets sold off in connection to creditor protection proceedings. Heritage Cannabis (CSE: CANN) has completed the sales and investment solicitation process in connection with the proceedings, with assets being sold under a stalking horse bid. Heritage originally entered into CCAA proceedings in early April, following its largest creditor, BJK […]

Plurilock Sees Topline Revenue, Margin Improvements In Q2

Plurilock Security (TSX: PLUR) last night filed its second quarter financial results for the period ended June 30, 2024. The company reported topline revenue of $12.6 million, an improvement over the $12.3 million reported in the year ago period.

IRCC Terminates Temporary Resident Work Permit Program

Canada has terminated a temporary measure that allowed visitors to apply for work permits while in the country. Immigration, Refugees and Citizenship Canada (IRCC) announced the immediate end of this policy on August 28, 2024, ahead of its originally planned expiration date of February 28, 2025. The policy, introduced in August 2020 amid COVID-19 travel […]

U.S. Home Prices Soar to Record Highs, Sparking Housing Bubble Fears

The U.S. housing market is experiencing a remarkable surge, with home prices reaching unprecedented levels. According to the latest data from the S&P CoreLogic Case-Shiller Home Price Index, home prices in June 2024 rose by 5.4% year-over-year, setting a new all-time high. The Case-Shiller Home Price Index, which closely monitors the purchase prices of single-family […]

Trulieve Drops Over $70 Million Supporting Smart & Safe Florida In Push for Amendment 3

Major cannabis companies are throwing substantial financial support behind Amendment 3, the Marijuana Legalization Initiative set to appear on the November 5, 2024 ballot. This initiative aims to legalize recreational marijuana use for adults 21 and older in the Sunshine State. Trulieve Inc. (CNSX: TRUL) leads the charge in funding, with an unprecedented contribution of […]