Weekly Digest – 26 October 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Sixth consecutive interest rate expected this week
The Bank of Canada is expected to raise interest rates once more, making this one of the fastest monetary policy tightening streaks in its history. Experts hope it’s the end of the cycle, but with recession fears still looming, some are unsure.
Competition Bureau launches investigation into grocery prices
Canada’s Competition Bureau said on Monday that it is launching a study on competition in the grocery industry. They say that it is not in response to any specific allegation of wrongdoing.
Rishi Sunak calls for stability and unity
It’s official – Rishi Sunak will be the next Prime Minister of the United Kingdom. Liz Truss’ replacement is asking for the people of the UK to pull together as they face a time of “profound economic challenge”.
Tesla stock slips following price cuts in China
Tesla shares slipped as much as 7% on Monday, and landed at 1% lower at market close, after the EV maker cut the price of its Model 3 and Model Y vehicles in China.
Twitter deal inches closer
Speaking of Elon Musk, he has until 5 p.m. ET on Friday to close his $44 billion acquisition of Twitter – or face a trial that was previously delayed to allow both parties to close the deal.
US stock markets start the week strong
All three major indexes were up on Monday – a welcome change from the volatile conditions of recent months. Investors seem optimistic as we await earnings calls, with numbers from big tech firms expected later this week.
Oil production is booming, but where’s the money?
Alberta is experiencing an oil boom, producing more barrels of oil than in 2014. However, most of the revenue is leaving the province due to foreign ownership.
Markets react to Xi Jinping’s third term
Despite stronger-than-usual GDP performance from China, markets in Hong Kong closed at their lowest point since the 2008 global financial crisis. Foreign investors dumped Chinese equities and the yuan due to feelings of unease over the political situation in China.
Boost company morale with a grown up version of summer camp
Float is a Toronto-based spend-management-software startup. Their CEO and co-founder Rob Khazzam shares how he energized employees through real life bonding time in nature at an adult version of summer camp.
Canadians looking to save on travel this winter
Despite global inflation, after more than two years of restrictions, Canadians are eager to get away this winter. BNN Bloomberg offers some tips for how and when to book to save the most money.
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