Weekly Digest – 6 December 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
First BrightDrop Zevo 600 electric delivery van rolls off the line
A General Motors plant in Ingersoll, Ontario has been converted into an assembly line for electric delivery vans and produced its first vehicle this week. The plant is the first full-scale electric vehicle-making facility in Canada.
Food prices will continue to escalate in the new year
The first half of 2023 will remain challenging for food prices, with climate change, geopolitical conflicts, rising energy costs, and the lingering effects of COVID-19 all playing a role.
WestJet adds Tokyo, Edinburgh, and Barcelona routes
WestJet announced its first non-stop flights to Asia and additions to its European offerings, direct from Calgary. It’s the first move since the airline announced it would be expanding its capacity from Calgary by more than 25 per cent next year.
Canada added more jobs in November, but wages aren’t keeping up
Canada’s economy added 10,000 jobs last month, pushing the unemployment rate to 5.1 per cent. However, wages increased at a 5.6 per cent annual rate – not enough to keep up with inflation.
Bank of Canada marks first loss in its 87-year history
The central bank lost $522M in the third quarter – an expected loss after it purchased bonds during the pandemic. Governor Tiff Macklem says the bank will return to positive net earnings after a period of planned losses.
Foxconn restoring production at its biggest iPhone factory
Apple supplier Foxconn says that it is starting to hire more employees and restore production at its campus in Zhengzhou. The supply disruptions there due to Covid-19 restrictions and worker protests are costing Apple $1 billion a week in lost iPhone sales.
Cryptocurrency exchange founder claims he didn’t try to commit fraud
Former FTX CEO Sam Bankman-Fried says he would like to testify before the House financial services committee once he has finished learning about the failure of FTX.
Tipping more might make your deliveries show up faster
If you’ve noticed that your grocery deliveries take a long time, it might be because you’re not a generous tipper. Tips make up between 40 and 70 per cent of delivery people’s wages, so when they pick up a delivery, they’re looking for the best deal.
28-year-old TikTok star is transforming the ‘male, pale, and stale’ personal finance industry
Vivian Tu explains private equity to her 2.2 million TikTok followers through the lens of Kim Kardashian and gives a quick crash course on private equity.
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