Canada’s auto industry, located in Southern Ontario, is undergoing a significant transition as domestic parts companies shift their focus to manufacturing parts for electric vehicles (EVs). This shift is being hailed as the biggest change in the automotive industry since the advent of assembly lines over a century ago. Leaders from a dozen domestic auto parts companies in the Greater Toronto Area and Windsor-Detroit border were interviewed to understand the early stages of this transition and its impact on their workers.
Billions of Dollars Belonging to Gadhafi Found in Canadian Bank Accounts
According to a former diplomat, former Libyan dictator Moammar Gadhafi had billions of dollars stashed away in Canadian bank accounts, which remain untouched even 12 years after his death. The disclosure comes at a critical time as Libya aims to recover missing assets worth billions of dollars that were looted by Gadhafi and his inner circle. Further details of this exclusive interview with Libya’s former ambassador to Canada are provided by Rita Trichur, Stephanie Chambers, and David Milstead.
The Decline of Single-Family Homes as Building Permits Fall
Building permits for detached houses, once a symbol of the middle-class dream, have fallen by 35% in June compared to the previous year. This decline in building permits and the ongoing trend suggests that the era of single-family homes may be coming to an end. Jason Kirby examines this shift in depth in this week’s Decoder.
New Pilot Program to Expedite Temporary Foreign Worker Approvals
The Canadian federal government has introduced a pilot program to streamline the approval process for businesses looking to hire temporary foreign workers. Under the new “recognized employer” program, businesses with a proven history of complying with program requirements will receive three-year approvals and will no longer have to submit a Labour Market Impact Assessment for each application. Matt Lundy and Mark Rendell provide details on this three-year pilot program aimed at reducing paperwork for companies hiring foreign workers.
Investment Dilemma: Canadian Pension Funds and China
Canada’s largest pension funds are facing a dilemma when it comes to investing in China. As economic and diplomatic tensions between China and the West escalate, fund managers are becoming more cautious. However, pension funds like the Canada Pension Plan Investment Board (CPPIB) have yet to make any significant moves to withdraw from the Chinese market. James Bradshaw explores this investment dilemma and the cautious approach taken by pension funds.
Home-Sharing Platforms Connect Students with Seniors in Need of Tenants
To address the shortage of rental housing in Canada, two companies, Sparrow Living Inc. and SpacesShared, are connecting students with homeowners, including seniors, who have empty bedrooms. These home-sharing platforms aim to alleviate both the high cost of living and the loneliness experienced by seniors by matching hosts and renters based on compatibility. Rachelle Younglai highlights the experience of 63-year-old Brigitte Sharp, who listed her empty room in order to have companionship and social interaction.
