What’s in the New – 17 May 2023
Stay in the know with some recent news updates relevant to business and the economy.
Theo Argitis: Why Canada has plenty of leverage as China relations sour
Canada has leverage in its relationship with China, even as tensions between the two countries rise. Canada can use its resources and allies to pressure China to improve its human rights record.
Rate hikes, social media drove SVB’s collapse, former CEO says
SVB Financial Group, a California-based bank, has collapsed due to interest rate hikes and social media speculation. This has caused a liquidity crisis and a halt in trading.
Bank downgrades and a digital dollar
Bank of Canada downgraded the Digital Dollar project, a partnership between Canadian Tire and CIBC, due to the lack of a clear business case.
GM recalls 42,000 SUVs in Canada for air bag defect
General Motors is recalling over 7 million vehicles worldwide due to a defect in the airbag system that could cause them to deploy unexpectedly.
Rhys Mendes appointed as Deputy Governor of the Bank of Canada
Rhys Mendes has been appointed as the Deputy Governor of the Bank of Canada, effective June 1, 2023. He will be responsible for overseeing the Bank’s financial system activities.
Cleantech Power Corp. Enters Into Non-Binding Letter of Intent to Acquire Combined Heat and Power Assets
CleanTech Power Corp has entered into a non-binding letter of intent to acquire Combined Heat and Power assets, which will expand their current portfolio of clean energy solutions.
CB Innovation Awards 2023: Trailblazing Companies Challenging the Status Quo
The Canadian Business Innovation Awards 2023 have been awarded to five innovative companies for their contributions to the Canadian economy. The winners are: Agrisoma Biosciences, ClevrU, Flinks, Nudge Rewards, and Unata.
Resilience Project puts Indigenous women’s art on display
The Resilience Project is an initiative to showcase Indigenous women’s art and stories, and to celebrate their strength and resilience. It is a collaboration between the National Arts Centre and the Indigenous Performing Arts Alliance.
What are the Eligibility Criteria for Canadian Government Funding?
Government funding eligibility factors vary depending on the program, but typically include factors such as the size of the business, the industry, and the location of the business.
Government of Canada’s DX journey riddled with cyber-struggles, technical debt and staffing concerns
This article discusses the importance of digital transformation in the Canadian business landscape, and how it can help organizations become more competitive and successful. It also outlines the challenges and opportunities associated with digital transformation.
Incorporated vs Corporation, What is the Difference?
Incorporation and corporation are two different legal statuses for businesses. Incorporation is for small businesses, while corporations are for larger businesses. Incorporation offers limited liability, while corporations offer more flexibility.
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