Fate of Canadian Bank Stocks Hinges on Credit as Economy Slides
Welcome to Bay Street Edition, our weekly newsletter devoted to what's happening in Canadian finance, covering strategy, deals, people moves and economics.
I'm Christine Dobby, Bloomberg's Toronto-based banking reporter, and you'll find me in your inbox every Friday. This week, we're talking about how the banks will deal with risky loans, why every vote really does count, and who's headed to Ottawa from the business world. Plus: how much more would you pay for Canadian items at the grocery store?
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Hamilton Spectator
20 minutes ago
- Hamilton Spectator
Alberta resumes buying U.S. alcohol, months after pause meant to fight tariffs
EDMONTON - Alberta is buying American alcohol and gambling machines again, three months after Premier Danielle Smith announced restrictions aimed at fighting back against U.S. tariffs. Service Alberta Minister Dale Nally said Friday that the move signals a 'renewed commitment to open and fair trade' with the United States. Smith said in March that the province would no longer buy U.S. alcohol and video lottery terminals, or sign contracts with American companies. Alberta's liquor stores are privately owned but must order stock through the provincial government. That came a day after U.S. President Donald Trump slapped heavy tariffs on Canadian goods and energy. Other premiers also announced bans on U.S. liquor along with other proposed penalties. Nally said in a statement that the decision to resume buying U.S. alcohol and gambling machines 'sets the stage for more constructive negotiations' ahead of a renewal of the Canada-U.S.-Mexico trade agreement. The agreement, known as CUSMA, was negotiated during the first Trump administration and is up for a mandatory review in 2026. 'Prime Minister Mark Carney has made a clear effort to reset the relationship with the U.S. administration, and Alberta's government supports this approach,' Nally said. 'We are focused on highlighting Alberta's role as a responsible and collaborative trading partner and will continue working alongside other provinces to advocate for a tariff-free relationship.' The minister said Albertans are encouraged to continue supporting local producers, even as more U.S. options return to store shelves. In April, the province paused its policy around procurement from U.S. companies in what Nally called 'the spirit of diplomacy.' This report by The Canadian Press was first published June 6, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
an hour ago
- Yahoo
Alberta resumes buying U.S. alcohol, months after pause meant to fight tariffs
EDMONTON — Alberta is buying American alcohol and gambling machines again, three months after Premier Danielle Smith announced restrictions aimed at fighting back against U.S. tariffs. Service Alberta Minister Dale Nally says the move signals a "renewed commitment to open and fair trade" with the United States. Smith said in March that the province would no longer buy U.S. alcohol and video lottery terminals, or sign contracts with American companies. That came a day after U.S. President Donald Trump slapped heavy tariffs on Canadian goods and energy. Nally says the decision to resume buying U.S. alcohol and gambling machines "sets the stage for more constructive negotiations" ahead of a renewal of the Canada-U.S.-Mexico trade agreement. The minister says Albertans are encouraged to continue supporting local producers, even as more U.S. options return to store shelves. Nally said in April that the province was pausing its policy around procurement from U.S. companies "in the spirit of diplomacy." He said since the province's retaliatory measures were first announced in early March, the Trump administration had put a hold on further tariffs. This report by The Canadian Press was first published June 6, 2025. The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Why Are Gen-Z and Millennial Workers Obsessed With 'Soft Skills' in the Workplace?
In today's rapidly evolving workplace, dominated by advancements in generative AI, a consensus has emerged among younger workers: soft skills—such as empathy, communication, and leadership—are more important for career advancement than purely technical expertise. Deloitte's recent Gen Z and Millennial survey, which includes feedback from 23,000-plus such workers from around the world, reveals that more than eight in 10 young professionals believe these human qualities are essential to stand out and thrive, while only six in 10 believe that generative AI skills are somewhat or highly required. What's behind these numbers? As Elizabeth Faber, Deloitte Global Chief People & Purpose Officer, points out, 'In the age of GenAI, it's the human element that sets professionals apart … Soft skills are the bridge between human and machine, helping individuals navigate complex problems, collaborate across diverse teams, and lead with authenticity in increasingly dynamic environments.' This perspective resonates deeply with Sonali Karmarkar, the 31-year-old Head of Content and Community for YouTube Shopping. Karmarkar emphasizes that 'soft skills are inimitable—they are very difficult to teach yet are so crucial in the professional world.' For her, these skills 'enable one to connect with coworkers, business partners, and direct reports,' shaping how people influence and elevate projects beyond technical know-how. New York City-based career coach Eliana Goldstein echoes this sentiment, noting that while AI is 'infiltrating so many workplaces' and causing concern among many, 'there are people who have fear and concern around [if they'll be] replaced by AI. And if so, when is that going to happen? What do I do about it?' However, Goldstein stresses a reframing of this fear into opportunity: 'Once you plant those seeds, then people do genuinely start to feel that excitement of, oh, this is a really exciting opportunity for me right now; how do I capitalize on it?" According to Deloitte's survey, more than half of Gen Z and millennial workers are already integrating generative AI into their daily tasks—from brainstorming ideas and content creation to data analysis and project management. Yet many recognize AI as a complement, not a substitute, for soft skills. Valerie Chapman, a 26-year-old AI and technology creator, highlights how AI has transformed her work: 'AI has enabled me to scale my outreach, establish myself clearly as a subject matter expert, and amplify my voice in ways previously unimaginable.' However, she stresses that 'AI complements [soft skills] beautifully, allowing us to amplify our voices and share our stories more effectively.' For Chapman, the intersection of AI and soft skills holds promise, especially for historically underserved groups like women, helping them build confidence and advocate for themselves. Goldstein adds that while many believe AI to be intuitive, 'people are definitely still under utilizing it' She continues, 'It's not necessarily that people need tactical training on it; it's more so just about rethinking how they're using it.' She points out common uses such as helping to make emails more polished or aiding in the crafting of sales pitches, emphasizing AI's broad applicability across industries. At the same time, Briana Henry, a 34-year-old Senior Technical Engineer at Namaste Solar Electric, provides a cautionary note. She admits, 'I constantly forget that AI exists' in her highly technical and safety-critical role, where reliance on AI is limited by liability and trust concerns. Henry worries that over-reliance on AI could stunt creative problem-solving and diminish essential hard skills, underscoring that 'people need to have the knowledge and ability to at least review AI results for correctness.' The sentiment that soft skills are increasingly vital is echoed in how younger workers view career advancement. Karmarkar explains, 'Especially as one gets to a more senior level, these intangibles are what set people apart, since technical skill level becomes the baseline.' She sees soft skills as critical for motivating teams, coaching individuals, and adapting in ways technology cannot replicate. Goldstein reinforces this view, highlighting that while technical skills are 'incredibly important,' anybody can learn them through courses or training. In contrast, she explains, 'it is much more difficult to learn soft skills. Either communication just comes naturally to you, or it's incredibly hard, whether because you get nervous talking in front of people or other reasons.' She stresses the irreplaceable role soft skills play alongside AI: 'The human is the one communicating to other teams and leveraging the soft skills they have in order to disseminate AI across an organization or team.' Henry has witnessed this firsthand through her leadership experience. 'I have held leadership positions where I made decisions on hiring or punitive action in the past, and I have seen time and again where people with the soft skills required for the job have excelled and the reason people have required punitive action is because of the lack of their soft skills,' she shares. Chapman adds that in a landscape flooded with AI-generated content, 'genuine human connection and emotional intelligence become incredibly rare and valuable.' For her, the soft skills of storytelling, empathy, and communication are 'the heart of how we connect with technology,' especially for women navigating workplace challenges. While many companies provide some technical training, the development of soft skills often remains optional or undervalued. 'Soft skill trainings are often viewed as 'nice to have' and not mandatory, where employees aren't incentivized for taking time to cultivate their communication,' says Karmarkar. She advocates for mandatory soft skill modules to complement technical training, ensuring workers are fully equipped to collaborate and lead. Goldstein confirms that employer support for soft skills varies widely: 'It depends on leadership. If leadership cares about those things, you'll see it trickle down to the rest of the organization. If not, you won't.' She emphasizes that investing in soft skills will only strengthen workplaces. 'Investing in soft skills will not only help companies be more successful, but it will help in terms of employee retention.' Henry credits her company's cooperative culture for fostering her soft skills, through opportunities in leadership and teamwork: 'Being a co-owner has helped me build my skills with teamwork, communication, problem-solving, leadership, and many other areas of soft skills.' Yet she acknowledges that many companies may lack sufficient support for this development. Chapman, who has built her personal brand publicly, emphasizes self-driven growth: 'I've developed my soft skills by openly sharing my journey on social media… This practice has naturally boosted my confidence, honed my communication skills, and significantly expanded my network.' She warns that without mindful integration of AI, employees might feel anxiety or fear, rather than empowerment, highlighting a critical gap in workplace training. The message from Gen Z and millennial workers is clear: as AI reshapes the technical landscape, the qualities that make us human—our empathy, leadership, and communication—are the true currency of career progression. These skills not only help individuals use technology more effectively but also build authentic connections that machines cannot replicate. Karmarkar sums it up succinctly: 'Soft skills are what will set candidates apart in their ability to use the tech to unlock new solutions, be able to effectively synthesize the information to align to a long-term vision and compellingly communicate to their intended audiences.' In the end, mastering AI is important, but it's the human touch that remains the defining factor in professional success. You Might Also Like 4 Investment-Worthy Skincare Finds From Sephora The 17 Best Retinol Creams Worth Adding to Your Skin Care Routine
