Weekly Digest – 12 July 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Where to store value as inflation eats away at your cash

BNN Bloomberg has rounded up 4 ways to store equity during times of inflation. The article can be found here.

Over a quarter of Canadians are scaling back on basic necessities

An MNP Consumer Debt Index survey revealed that 27% of respondents are scaling back spending on basic life necessities such as food, utilities and housing as the cost of living continues to rise.

US backs Canada in returning Russian pipeline turbines

The United States supported Canada’s decision to export sanctioned turbines for a Russian pipeline that supplies natural gas to Germany, saying in the short term it was the right move. The turbines are required to keep Europe supplied with energy.

Canadian charities see higher demand and struggle with inflation

Demands on charity groups have never been higher as inflation costs put pressure on many families who are already on a limited budget, and the charities feel the pinch of inflation themselves.

43,000 jobs unexpectedly lost in Canada last month

For the first time this year, the Canadian economy recorded its first monthly loss of jobs in June. However, the labour market continued to be exceptionally tight as the unemployment rate fell again and wages moved higher.

Ottawa calls on telecom companies to bolster networks

Canada’s industry minister François-Philippe Champagne says he is calling on Rogers to come up with a plan to improve the resiliency of Canada’s cellular and internet networks. The demand came after last week’s massive outage left millions offline and affected critical services.

Twitter set to sue Elon Musk, shares plunge

Twitter and Elon Musk are set to go to court, after the social media giant vowed to sue Musk over backing out of the USD $44 billion buyout deal.

Tips from Xero on how to better manage a borderless team

The accounting software company says the key to motivating employees across the world is human connection.

Homes in the metaverse fetching hundreds of thousands

As it turns out, the newest real estate boom is in the metaverse – and some buyers are shelling out as much as they would for a real life home.

CRA will not require GST information return for platform operators

As part of the digital economy measures the government introduced as part of Budget 2021, certain accommodation and digital platform operators are required to file an information return with the CRA each year. However, the CRA website has been updated to say this is no longer the case. Details can be found here.

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