Business Update – 17 August 2023

08/17/2023 | Bizink

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Economists expect rise in inflation as price-growth fight enters new phase

Forecasters anticipate this week’s consumer price index report to show inflation rose last month, signalling a reversal in progress after a year of steady declines in inflation.

Air Canada profits soar amid booming demand for international travel — and ticket prices took off, too

Air Canada says it earned a profit of $838 million in its most recent quarter amid booming demand for travel and higher fares — despite thousands of flight delays.

Agribusiness secures extra $11.2M to enhance agricultural efficiency in Canada

Vive Crop Protection, a leading innovator in agricultural solutions, recently announced an impressive additional $11.2 million to their Series C funding round. This financial boost is a strategic move to bolster the development of cutting-edge technologies aimed at enhancing the efficiency of agricultural chemicals across the country.

Canada posts biggest trade deficit in almost three years, analyst predicts ‘rough summer’

Canada’s trade deficit widened to C$3.73 billion ($2.77 billion) in June from May, the largest in nearly three years, as exports dropped 2.2%, outpacing an 0.5% decline in imports, Statistics Canada said on Tuesday.

Chaos’: Vancouver investors slam Canada’s new company filing system SEDAR+

Canada’s new digital filing system for public companies, known as SEDAR+, has been plagued by technical difficulties and complaints about public searchability functions since launching July 25

Eric Nuttall not worried about oil market impact from electric vehicle push

Canadian oil investor Eric Nuttall says he’s not worried about near-term impacts from the global shift to clean energy. He still predicts strong demand for oil over the next few decades even as governments push for adoption of electric vehicles (EVs).

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