{"id":8019,"date":"2024-03-14T02:00:40","date_gmt":"2024-03-14T09:00:40","guid":{"rendered":"https:\/\/bdgllp.ca\/?p=8019"},"modified":"2024-03-14T09:10:20","modified_gmt":"2024-03-14T16:10:20","slug":"business-update-march-14-2024","status":"publish","type":"post","link":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/","title":{"rendered":"Business Update \u2013 March 14, 2024"},"content":{"rendered":"<p>Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy.<\/p>\n<h2>A change to Canadian banking is coming\u2026<\/h2>\n<p>A long-promised revolution in banking is headed<strong>\u00a0<\/strong>to Canada, but you might not notice when it arrives.\u00a0Change is in the works that will give Canadian consumers and businesses significantly more control over their financial data, including who they share it with, in what\u2019s known as <a href=\"https:\/\/globalnews.ca\/news\/10348075\/a-long-awaited-change-to-canadian-banking-is-coming-what-to-know\/\" target=\"_blank\" rel=\"noopener\">open banking<\/a>.<\/p>\n<h2>Canada averts recession with meagre growth in Q4<\/h2>\n<p>The Canadian economy continues to beat recession fears, posting modest growth in the fourth quarter even as high interest rates weighed on consumers and businesses. Statistics Canada reported Thursday real gross domestic product increased at an annualized rate of one per cent in the last three months of the year, <a href=\"https:\/\/www.bnnbloomberg.ca\/statistics-canada-to-release-fourth-quarter-gross-domestic-product-figures-today-1.2040880\" target=\"_blank\" rel=\"noopener\">exceeding economists\u2019 expectations<\/a> and the Bank of Canada\u2019s forecast for the quarter.<\/p>\n<h2>Look for measures to make housing more affordable in federal budget<\/h2>\n<p>Look for measures to make\u00a0housing\u00a0in Canada more affordable in the federal budget next month, <a href=\"https:\/\/financialpost.com\/news\/economy\/measures-make-housing-more-affordable-federal-budget\" target=\"_blank\" rel=\"noopener\">says CIBC economist\u00a0Benjamin Tal<\/a>.<\/p>\n<h2>With AI, workplace surveillance has \u2018skyrocketed\u2019\u2014leaving Canadian laws behind<\/h2>\n<p>Technology that tracks your location at work and the time you\u2019re spending in the bathroom. A program that takes random screenshots of your laptop screen. A monitoring system that detects your mood during your shift. These are just some ways <a href=\"https:\/\/www.ctvnews.ca\/business\/with-ai-workplace-surveillance-has-skyrocketed-leaving-canadian-laws-behind-1.6801234\" target=\"_blank\" rel=\"noopener\">employee surveillance technology<\/a> \u2014 now turbocharged, thanks to the explosive growth of artificial intelligence \u2014 is being deployed.<\/p>\n<h2>Bank of Canada holds interest rate at 5 per cent<\/h2>\n<p>The Bank of Canada has held its key interest rate at five per cent again, saying that it\u2019s <a href=\"https:\/\/www.cbc.ca\/news\/business\/bank-of-canada-march-6-interest-rates-1.7135198\" target=\"_blank\" rel=\"noopener\">still too soon to consider rate cuts while underlying inflation persists<\/a>. \u2018We need to give higher interest rates more time to do their work,\u2019 Macklem says.<\/p>\n<h2>Changes needed to align immigration to labour needs<\/h2>\n<p>Construction stakeholders call for immigration system reforms to help address looming labour gaps.\u00a0 Changes are needed to Canada\u2019s immigration system to ensure the construction sector can respond to growth, and deliver on key public-policy priorities, such as building new housing and greening infrastructure, <a href=\"https:\/\/www.on-sitemag.com\/labour\/changes-needed-to-align-immigration-to-labour-needs\/1003981566\/?custnum=1126857356&amp;title=On-Site%20eNews:%20Immigration%20Needs%20and%20Heavy%20Machines&amp;utm_source=ONS&amp;utm_medium=email&amp;utm_campaign=ANXCD240301003&amp;oly_enc_id=4668G9076534F9I\" target=\"_blank\" rel=\"noopener\">says BuildForce Canada<\/a> in its Immigration Report Update.<\/p>\n<h2>10 reasons why Canadians are still dissatisfied with the economy, despite the upswing<\/h2>\n<p>The COVID-19 pandemic\u00a0is no longer a global emergency, Canada\u2019s GDP\u00a0outperformed expectations in 2023, the economy seems to be heading for\u00a0soft landing after a period of stagnation, inflation is\u00a0winding down\u00a0and unemployment has decreased to\u00a05.7 per cent in January 2024 \u2014 close to pre-pandemic levels. Despite these positive economic indicators, recent surveys suggest <a href=\"https:\/\/www.canadianmanufacturing.com\/features\/10-reasons-why-canadians-are-still-dissatisfied-with-the-economy-despite-the-upswing\/\" target=\"_blank\" rel=\"noopener\">Canadians are\u00a0dissatisfied with the direction of the economy<\/a>.<\/p>\n<h2>Canadian business insolvencies soar to highest level in nearly 20 years<\/h2>\n<p>Canadian businesses aren\u2019t just increasingly closing up shop, but they\u2019re facing debt problems too.\u00a0<a href=\"https:\/\/betterdwelling.com\/canadian-business-insolvencies-soar-to-highest-level-in-nearly-20-years\/\" target=\"_blank\" rel=\"noopener\">Office of The Superintendent of Bankruptcies\u00a0(OSB) data<\/a> shows business insolvencies surged in January. A combination of a slowing economy, rising input costs, soaring debt, and end of pandemic assistance has led to the biggest month for business insolvencies in nearly 20 years.<\/p>\n<h2>Get in touch<\/h2>\n<p>Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy. A change to Canadian banking is coming\u2026 A long-promised revolution in banking is headed\u00a0to Canada, but you might not notice when it arrives.\u00a0Change is in the works that will give Canadian consumers and businesses &hellip; <a href=\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/\">Continued<\/a><\/p>\n","protected":false},"author":15,"featured_media":8023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[162],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business Update \u2013 March 14, 2024 - BDG Cloud Accountants LLP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Update \u2013 March 14, 2024 - BDG Cloud Accountants LLP\" \/>\n<meta property=\"og:description\" content=\"Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy. A change to Canadian banking is coming\u2026 A long-promised revolution in banking is headed\u00a0to Canada, but you might not notice when it arrives.\u00a0Change is in the works that will give Canadian consumers and businesses &hellip; Continued\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"BDG Cloud Accountants LLP\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-14T09:00:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-14T16:10:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bdgllp.ca\/app\/uploads\/fw6qnfdkjww.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"BDG News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"BDG News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/\",\"url\":\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/\",\"name\":\"Business Update \u2013 March 14, 2024 - BDG Cloud Accountants LLP\",\"isPartOf\":{\"@id\":\"https:\/\/bdgllp.ca\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/bdgllp.ca\/app\/uploads\/fw6qnfdkjww.jpg\",\"datePublished\":\"2024-03-14T09:00:40+00:00\",\"dateModified\":\"2024-03-14T16:10:20+00:00\",\"author\":{\"@id\":\"https:\/\/bdgllp.ca\/#\/schema\/person\/ce3a8f12db092c532cf533315e9e21a1\"},\"breadcrumb\":{\"@id\":\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#primaryimage\",\"url\":\"https:\/\/bdgllp.ca\/app\/uploads\/fw6qnfdkjww.jpg\",\"contentUrl\":\"https:\/\/bdgllp.ca\/app\/uploads\/fw6qnfdkjww.jpg\",\"width\":1600,\"height\":1200,\"caption\":\"Photo By Phil Desforges\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/bdgllp.ca\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business Update \u2013 March 14, 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/bdgllp.ca\/#website\",\"url\":\"https:\/\/bdgllp.ca\/\",\"name\":\"BDG Cloud Accountants LLP\",\"description\":\"Cloud Accountants in Vancouver, BC, Canada\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/bdgllp.ca\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-CA\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/bdgllp.ca\/#\/schema\/person\/ce3a8f12db092c532cf533315e9e21a1\",\"name\":\"BDG News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/bdgllp.ca\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6ab9968561b0414779c03d6a9994d019?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6ab9968561b0414779c03d6a9994d019?s=96&d=mm&r=g\",\"caption\":\"BDG News\"},\"url\":\"https:\/\/bdgllp.ca\/author\/bdg-news\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Business Update \u2013 March 14, 2024 - BDG Cloud Accountants LLP","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/","og_locale":"en_US","og_type":"article","og_title":"Business Update \u2013 March 14, 2024 - BDG Cloud Accountants LLP","og_description":"Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy. A change to Canadian banking is coming\u2026 A long-promised revolution in banking is headed\u00a0to Canada, but you might not notice when it arrives.\u00a0Change is in the works that will give Canadian consumers and businesses &hellip; Continued","og_url":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/","og_site_name":"BDG Cloud Accountants LLP","article_published_time":"2024-03-14T09:00:40+00:00","article_modified_time":"2024-03-14T16:10:20+00:00","og_image":[{"width":1600,"height":1200,"url":"https:\/\/bdgllp.ca\/app\/uploads\/fw6qnfdkjww.jpg","type":"image\/jpeg"}],"author":"BDG News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"BDG News","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/","url":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/","name":"Business Update \u2013 March 14, 2024 - BDG Cloud Accountants LLP","isPartOf":{"@id":"https:\/\/bdgllp.ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#primaryimage"},"image":{"@id":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/bdgllp.ca\/app\/uploads\/fw6qnfdkjww.jpg","datePublished":"2024-03-14T09:00:40+00:00","dateModified":"2024-03-14T16:10:20+00:00","author":{"@id":"https:\/\/bdgllp.ca\/#\/schema\/person\/ce3a8f12db092c532cf533315e9e21a1"},"breadcrumb":{"@id":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bdgllp.ca\/business-update-march-14-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#primaryimage","url":"https:\/\/bdgllp.ca\/app\/uploads\/fw6qnfdkjww.jpg","contentUrl":"https:\/\/bdgllp.ca\/app\/uploads\/fw6qnfdkjww.jpg","width":1600,"height":1200,"caption":"Photo By Phil Desforges"},{"@type":"BreadcrumbList","@id":"https:\/\/bdgllp.ca\/business-update-march-14-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bdgllp.ca\/"},{"@type":"ListItem","position":2,"name":"Business Update \u2013 March 14, 2024"}]},{"@type":"WebSite","@id":"https:\/\/bdgllp.ca\/#website","url":"https:\/\/bdgllp.ca\/","name":"BDG Cloud Accountants LLP","description":"Cloud Accountants in Vancouver, BC, Canada","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bdgllp.ca\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-CA"},{"@type":"Person","@id":"https:\/\/bdgllp.ca\/#\/schema\/person\/ce3a8f12db092c532cf533315e9e21a1","name":"BDG News","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/bdgllp.ca\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6ab9968561b0414779c03d6a9994d019?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6ab9968561b0414779c03d6a9994d019?s=96&d=mm&r=g","caption":"BDG News"},"url":"https:\/\/bdgllp.ca\/author\/bdg-news\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/bdgllp.ca\/app\/uploads\/fw6qnfdkjww.jpg","_links":{"self":[{"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/posts\/8019"}],"collection":[{"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/comments?post=8019"}],"version-history":[{"count":2,"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/posts\/8019\/revisions"}],"predecessor-version":[{"id":8022,"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/posts\/8019\/revisions\/8022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/media\/8023"}],"wp:attachment":[{"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/media?parent=8019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/categories?post=8019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bdgllp.ca\/wp-json\/wp\/v2\/tags?post=8019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}