Business Update – 13 April 2023
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
5 positive personal finance trends in Canada today
There’s been plenty of bleak financial news lately, but the Globe and Mail has rounded up five reasons you can feel good about your finances. Learn what they are here.
Why founders need to pay themselves
When you’re raising venture capital for a big idea, it’s imperative to take a salary. Start-up founders are sometimes told that they should be working for equity, but doing so can be incredibly counterproductive.
Federal Budget 2023 allocates $800M to expand loans and grants for students
The budget promised to work on a long-term approach to student financial assistance. It will increase the withdrawal limit on registered education savings plans for full-time and part-time students. The changes aim to help students with the rising cost of living.
Most Canadians feel unprepared for retirement
A recent survey by H&R Block Canada reveals that over half of Canadians feel unprepared for retirement, with 52% citing a lack of funds for savings at the end of each month. Additionally, 50% of respondents said they plan to have a “gig job” during their retirement, and 36% of those between the ages of 18 and 54 do not plan to retire at all.
WFH is making us lonelier than ever
Various studies show that the shift to remote work has had mixed effects on employee well-being, with some feeling socially isolated and struggling to maintain relationships with colleagues. Loneliness expert Kim Samuel sheds light on the issue in her new book.
Interest rates are expected to remain steady as market strategists anticipate a cautious approach
Market strategists predict that interest rates will remain steady this week. While they acknowledge the risks posed by volatility in the US banking sector, it’s expected the central bank will take a cautious approach to deal with current economic challenges.
Sleep Country is taking over Casper in Canada
Sleep Country Canada will acquire Casper Sleep Inc.’s Canadian operations for $20.6 million US and will receive a $4.5 million marketing transition fee over four years. New York-based Casper was at the forefront of the now-popular mattress-in-a-box business models that have taken the world by storm in recent years.
Canada follows Italy with a probe into how ChatGPT uses personal information
Italy’s data protection agency launched a probe into OpenAI’s AI-powered chatbot ChatGPT, citing concerns about data privacy earlier this month. On Tuesday, Canada’s privacy commissioner also announced an investigation into OpenAI.
The price of beer is going up, and not just from inflation
New Statistics Canada data shows that beer prices have been increasing in Canada – and faster than in years past. The excise tax is just one part of what’s driving the rise.
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