Weekly Digest – 15 June 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Canadian airports experiencing major delays

Air travel continues to be a struggle, with thousands facing delays of several hours or even days. The causes range from demand to lingering public health measures to a shortage of workers who load luggage and conduct security checks.

Bitcoin crashes further

Cryptocurrencies continued to plunge over the weekend and into Monday, with Bitcoin reaching its lowest point in almost 18 months.

Recession fears loom after Wall Street plunge

The S&P 500 sunk more than 20% below its record low on Monday, falling firmly into bear market territory. Experts warn a recession is likely on the horizon.

Google AI chatbot exchange eerily similar to 2001: A Space Odyssey

A Google engineer has been placed on leave after claiming that the AI chatbot the company has been working on is sentient. A Google spokesperson has publicly refuted the claim.

Electric Last Mile Solutions filing for bankruptcy

American electric vehicle maker Electric Last Mile Solutions Inc (ELMS) is planning to file for Chapter 7 bankruptcy. The announcement came Sunday after a review of its products and commercialization plans was completed.

1 in 4 Canadians would have to sell if interest rates rise more

A new debt survey from Manulife says that nearly a quarter of homeowners say they would have to sell their home if interest rates went up any further.

TSX in correction as bear market looms

The Canadian market is down 10% from its all-time high earlier this year, meaning it has now entered correction territory. Healthcare, materials, and technology led the plunge.

Canadians earning more than their debt, survey says

The amount Canadians owe relative to their income pulled back in the first quarter of this year, Statistics Canada says. This is a reversal from the fourth quarter of 2021 where debts reached a record high compared to income.

Housing sales and prices are both down in BC

Home sales in BC have slid by 35%, leading many to say that the housing correction has started. Mortgage rates continue to climb, leading to fewer sales.

App launches in Ottawa in a mission to achieve zero food waste

Too Good To Go allows businesses to sign up to sell “surprise bags” at a discount at the end of the day. Users can see what’s available, and pick up goods for less the next day.

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