Weekly Digest – 22 March 2023

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

Canadian banks are better protected from US-style “bank runs”

Canada’s Big Five banks are large, diversified and well-capitalized, have experienced leadership and are closely monitored by a respected banking supervisor. Learn more about why experts agree that Canadian banks are safe.

Nordstrom Canada liquidation sales begin this week

Nordstrom required court approval to begin liquidating its Canadian operations and will close its six Canadian department store locations and seven Nordstrom Rack shops.

Trans Mountain’s increasing costs make a successful sale less likely

Trans Mountain Corp. published the latest cost analysis of the Trans Mountain pipeline last week, but it flew under the radar due to concerning banking news out of the US. Projected costs to complete the project are now at $30.9 billion – a far cry from the original price of $5.4 billion.

Credit Suisse shares fall, but takeover deal is cause for optimism

Credit Suisse shares plunged Monday after Swiss authorities cut a deal with its rival UBS to acquire the troubled bank at a marked-down price. European bank stocks and the wider market gained as investors watched whether moves to shore up banks will stem further upheaval.

How to avoid greenwashing with your investments

Industry watchers have sounded the alarm over greenwashing, where companies advertise themselves as more climate-friendly than they really are. Learn what steps you can take to ensure your investments are as helpful to the environment as they claim.

What to do if you’re offered a salary that’s way too low

Recruiter Emily Durham says it’s never too early in the interview process to discuss compensation. Learn how to get through the uncomfortable money conversation here.

AI isn’t likely to relieve our workload any time soon

Many fears around AI focus on its potential to replace human workers, but the history of “technological revolutions” paints a different story than the one predicted by John Maynard Keynes about the benefits of technology-related productivity gains.

Bitcoin and other cryptocurrencies rally Monday

As a result of the US government announcing that they will protect Silicon Valley Bank and Signature Bank depositors, Bitcoin saw an 18% rally to open the week.

Further layoffs announced for Amazon

After a strategic review, Amazon intends to lay off 9,000 more employees on top of the 18,000 layoffs already planned. The company will hire only in strategic areas where it has prioritized allocating more resources, CEO Andy Jassy wrote in a memo.

Ontario woman suing Tim Horton’s for hot tea spill injuries

The $500,000 lawsuit alleges that the tea was heated to an unreasonable temperature, the cup was faulty, and employees failed to take reasonable care. After her tea spilled in the drive-thru, the woman was left with horrible burns.

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