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Globe and Mail
6 minutes ago
- Globe and Mail
Air Canada flight attendants on strike, China's new tariff and higher prices for weight-loss drugs in Canada: Business and investing stories for the week of Aug. 17
Getting caught up on a week that got away? Here's your weekly digest of The Globe's most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more. Air Canada's flight attendants followed through on their threat to walk off the job early Saturday, in a bitter contract dispute between the carrier and its employees that has already led to hundreds of cancelled flights. The airline wound down operations earlier this week in anticipation of the strike. Early Saturday morning, the carrier posted a media release that it suspended all operations of Air Canada and Air Canada Rouge. Air Canada said it will resume service Sunday after Federal Jobs Minister Patty Hajdu ordered binding arbitration to put an end to the strike. However, the union said in a statement it would defy the back-to-work order. 'We remain on strike. We demand a fair, negotiated contract and to be compensated for all hours worked,' the statement read. The complete shutdown of Air Canada and Air Canada Rouge operations is estimated to affect about 130,000 passengers' travel plans daily. Mariya Postelnyak spoke to travellers who are watching their plans unravel. On Tuesday, China announced 75.8-per-cent duties on Canadian canola seed. Beijing unveiled the preliminary duty toward the end of a one-year anti-dumping probe, which began after Canada imposed high tariffs on Chinese-made electric vehicles. China's Ministry of Commerce argues that Canada's canola sector has benefited from extensive government subsidies and preferential policies that distort markets. Many in Canada's canola industry, however, say China's action is instead a political response to Canadian tariffs in other sectors. Ottawa – which is now facing a growing trade war on two fronts, with both the U.S. and China – has said it will hold off on making concessions until it knows Beijing will respond in kind. But, as Kate Helmore reports, politicians and industry representatives in Western Canada, the heart of the country's canola industry, said a forceful response is needed to resolve the trade dispute and provide financial aid to the industry. Beijing's announcement caused prices to drop $1 per bushel in Canada's $44-billion industry just weeks before harvest. This will cost the 40,000 canola farmers across the country tens of thousands of dollars each. Producers in the U.S. raised their prices at the fastest pace in three years as companies grapple with new costs from President Donald Trump's tariffs. The Bureau of Labor Statistics reported that the producer price index, or PPI, rose 0.9 per cent in July from the month before, more than three times faster than expected, and the largest monthly increase since March, 2022. Wholesale inflation is in a sign that import taxes are pushing up prices for domestic producers, and economists warn higher consumer prices could be next. The PPI came in hotter than the consumer price index numbers released by the labour department earlier this week. Jason Kirby takes a closer look at the latest data in this week's Decoder series. U.S. drugmaker Eli Lilly & Co. has increased prices of its popular diabetes and anti-obesity drug Mounjaro in Canada, responding to pressure from the Trump administration to lower prices in the United States and raise them elsewhere. The company also announced it is sharply raising prices in Britain to match those in other European markets. Chris Hannay reports that the moves make the company one of the most high-profile so far to respond to Mr. Trump's direction to rebalance global drug prices. Two weeks ago, he sent letters to 17 drug companies – including Lilly – telling them to increase prices in non-U.S. markets to make up for lower revenue in the U.S. The administration has also launched a national-security investigation of the sector that could lead to tariffs, which Mr. Trump has mused could be as high as 200 per cent. Zahra Khozema recently asked ChatGPT to predict her retirement. The personal finance writer, who often talks to Gen Zs and millennials about money habits, found herself worrying about whether her retirement plans were realistic after she was laid off. She writes that she found herself comparing herself to others, and wanted the chatbot to help calm her financial anxiety. It worked: 'ChatGPT created a starting point. It was like holding up a mirror and being told, gently, that maybe I'm not failing,' she writes in a recent feature. More Canadians are turning to artificial intelligence for financial advice – from setting household budgets to boosting their financial literacy – but how reliable are the answers? We posed some common personal finance questions to ChatGPT, then asked human personal finance experts to weigh in. Here's what we found. Get the rest of the questions from the weekly business and investing news quiz here, and prepare for the week ahead with The Globe's investing calendar.
CTV News
36 minutes ago
- CTV News
Large picket lines at Pearson Airport as Air Canada flight attendants defy Ottawa's back-to-work order
CP24's Andrew Brennan with the latest details from the scene Large picket lines have erupted at Toronto Pearson International Airport on Sunday as the union representing Air Canada flight attendants says they will 'remain on strike' and defy Ottawa's back-to-work order. The Canadian Union of Public Employees (CUPE) called the order 'unconstitutional' and urged Air Canada to return to the bargaining table to negotiate a 'fair deal.' The defiance comes hours after Air Canada announced plans to gradually resume flights on Sunday evening, signalling more days of turmoil ahead for travellers. As of 10:30 a.m. ET, hundreds of CUPE members gathered outside Toronto's Pearson Airport, waving signs and chanting, 'Hey, hey, ho, ho, unpaid work has got to go.' The picket lines underscored the union's demand for higher wages and compensation for unpaid time worked during ground delays — issues that CUPE says have been ignored through more than a decade of contracts. Back-to-work order 'ripped up' Speaking at the protest, Wesley Lesosky, president of the Air Canada Component of CUPE, confirmed that the union rejected the government's order. Wesley Lesosky Wesley Lesosky, president of the Air Canada Component of CUPE speaks to CP24 on Sunday August 17, 2025 (CP24 photo). 'I sent them back a video of it being ripped up,' he said, referring to the back-to-work order. He stressed that negotiations with Air Canada remain at a standstill until a contract is ratified, emphasizing the union's commitment to securing a collective agreement after eight months of bargaining. 'Air Canada needs to see that all these people are standing behind their union. Air Canada needs to understand that we need a collective agreement,' Lesosky said. 'Fully supported on all angles' Despite the risks of prolonging the strike and any potential ramifications, Lesosky insisted that members are united and CUPE's national leadership are firmly behind the walkout. 'CUPE National stepped up to the plate and fully support us here. So we feel fully supported on all angles, all avenues,' he said. This is a breaking news story, more details to come...
CBC
37 minutes ago
- CBC
Here's who's running for chief of Ndilǫ, N.W.T.
Social Sharing Yellowknives Dene First Nation members will elect the new chief of Ndilǫ, N.W.T. on Monday. CBC News spoke to each of the four candidates vying for the job. Here's what they had to say about why they're running. Fred Sangris Fred Sangris, who lives in Ndilǫ, is the incumbent candidate in the race. He said he wants to be re-elected to carry on some of the big projects he's been working on over the years, including the Akaitcho land claims and self-government process, and getting an apology from the federal government for the harms caused by Giant Mine. He said the biggest issue in his community is one that's felt across the territory: adequate housing. "We've been managing to build housing. Thanks to the federal government, we got some funding to build some houses but that's not enough. We have to continue building a lot in the future," he said. Giant Mine contamination apology discussions underway, says Yellowknives Dene First Nation Draft agreement reached in Akaitcho land claim process, says N.W.T. premier Elizabeth Liske Elizabeth Liske, who lives in Yellowknife but grew up in Ndilǫ, said she's running to bring a new perspective to the role, as she comes from a different generation than the other candidates. Liske said she has experience that makes her qualified for the role. "I've sat on different boards, so I have some experience with governance and making decisions," she said. Liske said she would focus on dealing with social issues, as members have concerns with the amount of drugs in the community. "There needs to be a focus on the trauma that Indigenous people have experienced and that drugs are a way of dealing with that. So overall, just healing needs to happen," she said. Liske said other issues she's heard from people include the self-government negotiations, Giant Mine as well as receiving the cows and plows settlement. Shirley Tsetta Shirley Tsetta, who lives in Ndilǫ, said she is running because of her previous experience on council. She said her priority will be to provide regular updates to people on issues like land claim and self-government negotiations, and cows and plows. Shirley Tsetta said she's heard complaints from people that those in leadership haven't provided enough updates. "What I've been hearing is the frustration of not getting regular updates," she said. "People don't know what exactly [is] going on in terms of our negotiations and our cows and plows. That's another big issue that people are concerned about because a lot of our elders may not benefit from it." Shirley Tsetta said housing is another major issue facing the community, as well as membership transfers. "There are some members that have children that were born and raised in the community but belong to another nation, and they want to transfer over. So, that's another big concern as well," she said. Ted Tsetta Ted Tsetta, who's a former Ndilǫ chief, said he's running for chief because he's always willing to fight for the people. "I've fought for them before. I went to court under our treaty when the caribou was taken away from me; I fought in court for three years," he said. "I'm always here for the people." Ted Tsetta, who said he lives about two minutes from Ndilǫ, said the biggest issues facing the community include cows and plows and housing. He said if elected, he would lobby so the community would get direct funding from Ottawa instead of through the territorial government. He also said he'd also make it a priority that youth are taught how to live on the land.
