The week was filled with significant news stories, starting with the declaration of Mpox as a global public health emergency by the World Health Organization for the second time in two years. The virus outbreak has been escalating in parts of Africa and has also shown a sharp rise in cases in Toronto. Despite this, health officials in Canada reassured the public that the risk of Mpox in the country remains low. On a related note, an intranasal epinephrine device for allergies called Neffy was approved for emergency treatment in the United States, offering an alternative to EpiPens for allergy sufferers in Canada.
In the political arena, Prime Minister Justin Trudeau criticized Conservative Leader Pierre Poilievre’s proposal to raise tariffs on Chinese electric vehicles by 100 percent as a political move. Trudeau also took a shot at Poilievre for not supporting the industry sooner. Furthermore, Canada’s police chiefs are calling on the government for more resources and training to address the strain on police forces resulting from the increase in protests across the country. Meanwhile, Canadian farmers expressed concerns over changes to the capital gains inclusion rate, stating that the latest efforts from the federal government do not go far enough to mitigate the impact on farmers.
On the economic front, Canadians are facing financial challenges despite the country not being in a technical recession. The impact of the economy has resulted in a ‘me-cession’ where individuals are cautious with their spending. Despite interest rate cuts by the Bank of Canada, the housing market has not seen a significant boost, leading experts to anticipate more activity in the fall. Also, concerns surrounding taxes and recalls have emerged, with Ford and Mazda advising owners of over 200,000 vehicles to stop driving due to faulty airbags.
In the transportation sector, the Canadian Taxi Association issued a warning about scams involving fake taxis, particularly in Ontario, where fake roof signs are used to deceive customers. The association detailed common scams and how to avoid falling victim to them. Additionally, a potential rail strike could impact the country’s food industry, with both Canadian National Railway Co. and Canadian Pacific Kansas City Ltd. threatening to lock out employees on August 22 if agreements with unions are not reached. As Canadians prepare for a season of wildfires and severe storms, experts have predicted a higher-than-average frequency of these events.
Overseas, Ukrainian forces entered Russia, causing speculation about the end goal of this cross-border incursion. While the operation signals Ukraine’s ability to confront Russia, it also raises questions about potential negotiations and outcomes. In the United States, President Joe Biden announced his decision to not seek re-election, citing the obligation to defeat Republican candidate Donald Trump and the necessity for a peaceful transfer of power to Vice-President Kamala Harris. Biden expressed his commitment to campaigning with Harris and ensuring a successful outcome in the upcoming election.
