Are you caught up in an escaped week? A weekly digest of Globe’s most important business and investment stories, including professional insights and analysis, stock tips, portfolio strategy and more.
Weston Family Shifts Personal Investing Strategy After $6.9 Billion Selfridge Sale
Best known as the controlling shareholders of Loblaw Cos. Ltd., the Weston family also own billions of dollars worth of private property through their holding company, Wittington Investments Ltd. Its massive privately owned portfolio is undergoing a radical transformation after an estimated $6.90. According to a report by Sean Shilkoff and Susan Krasinski-Robertson, the portfolio will focus on the more innovative players of the global economy, including clean energy, early-stage technology companies, and disruptive retail and consumer products companies. It will provide funding for the sector.
Canadian company Li-Cycle, at the forefront of EV battery recycling, is gearing up for large-scale testing
At the forefront of the burgeoning lithium-ion battery recycling industry since its inception in Kingston, Li-Cycle Corp. faces one of its greatest challenges. The factory the company has opened (and most of the factories it is developing) is known as a “spoke,” where used batteries are broken down to produce a black lump, a powdery substance containing key minerals. Li-Cycle is preparing to open its first ‘hub’, an independent facility that will process the minerals for sale in-house, and that’s where the real value lies. Li-Cycle’s chief executive, Ajay Kochhar, has revealed to Adam Radwanski how much his project depends on the new hub. The company hopes it will be profitable.
Global power key to next phase of Canada’s fight against inflation
A new Statistics Canada report analyzing inflation over the past few years shows that rising import prices, which the Bank of Canada has little control over, are contributing to the country’s growing burden of inflation. Commodity prices, global commodity demand and supply chain disruptions have been major drivers of inflation in the country, with the bank relying on the fortitude of other central bank officials to fight inflation and volatility in overseas economies. means you must.
Homebuyers and homeowners struggle with ‘exorbitant’ high construction costs
New data from Statistics Canada shows that the cost of building homes and multifamily homes in 11 major Canadian cities increased by 54% in the first three months of 2023 compared to the same period in 2019. Although COVID-19-related supply chain disruptions have eased, labor shortages persist, materials remain expensive, and rising interest rates are increasing financing costs for developers. At the same time, demand for new homes remains strong against the backdrop of record immigration and a resilient economy. All this means more construction costs for buyers and owners, reports Erika Arini.
‘I hope I’m wrong’: Why some experts see AI doom
Jeffrey Hinton, a professor emeritus at the University of Toronto, has been inundated with media inquiries since he sparked fears that a superintelligent AI could conquer humanity. In an interview with Professor Joe Castaldo, Hinton said it was humor and AI’s ability to understand it that changed some of his core beliefs. In his view, the intellect will triumph and try to control. But he’s not going to discuss how exactly AI threatens our existence. “It’s very uncharted territory and there are so many things that could happen, so I don’t like to speculate on the details,” he said.
How much rent should parents ask their adult children to pay?
Should parents charge rent and if so how much? How involved should parents be in the financial situation of their adult children? More and more are coming in. With Canada’s household debt levels at record highs, some parents are struggling to bear the brunt of their children’s financial responsibilities while supporting them financially and trying to find a middle ground between empowering children to ‘start out’ in society. Ana Pereira told the world.
You’re all set, so get ready for the week ahead with Globe’s investment calendar.
If you want to improve your financial fitness, The Globe’s MoneySmart Bootcamp newsletter course is for you. Authored by personal finance reporter Erika Arini, this five-part course will develop your personal finance skills, including budgeting, borrowing and investing. Register for MoneySmart Bootcamp Each week you will receive an email to work on another economic activity. Lessons will arrive in your inbox Wednesday afternoon.
