Lowe’s Leaves Canada, Interest-Free Student Loans and More Temporary Foreign Workers: A Must-Read Business and Investing Story

US hardware giant Lowe’s has sold its Canadian retail operations, including 450 stores, to New York private equity firm Sycamore Partners for $400 million in cash.Mark J. Terrill/Associated Press

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Lowes removes Rona and Canadian operations

US hardware giant Lowe’s sells Canadian retail operations – About 450 stores operating under the banners of Lowe’s, Rona, Reno-Depot and Dick’s Lumber – after a frustrating six years of operation. Nicolas Van Praet reports that the buyer is Sycamore Partners, his private equity firm in New York, purchasing the store for US$400 million in cash and an unspecified performance-based profit. Lowe’s entered the Canadian market in his 2007, and in 2016 he expanded his business by purchasing Rona for his $3.2 billion. The sale is the company’s recognition that the acquisition did not go well. Business struggled, and Lowe’s cut staff and closed dozens of stores in several states. For Rona, the sale will likely mean another period of turmoil as Sycamore seeks to improve its financials and attract new owners.

Interest Free Student Loans Among Financial Update Highlights

the federal government autumn economic statement This week, many Canadians have admitted to being worried when dealing with the issue of affordability. That’s increasing the chances of the country slipping into a recession.Matt Lundy wrote that Ottawa outlined several risks to the economic outlook. degree of interest, and “widespread volatility” in the stock and bond markets.Among the highlights is the proposal to make all Canadian Student Loans and Canadian Apprentice Loans permanently interest free, including loans currently being repaid. Starting April 1, 2023, the change will cost $2.7 billion over five years and just over $550 million annually thereafter.

Sorry Retirees, Inflation Isn’t Over Yet

One of the biggest threats to comfort retirement Inflation is what Frédéric Betesse wrote.waves of the past high inflation It lasted for about 4 years. This suggests the current wave of high prices. I can’t seem to see the end.

Employers are hiring more temporary foreign workers to fill low-wage jobs

Canadian businesses are increasing their use of short-term foreign worker programs to fill low-wage jobs after federal expansion. alleviate labor shortagesAs Matt Lundy reports, employers in the second quarter of this year: Approximately 45,200 positions recruited through the TFW program – Highest since at least 2017. From April he said the June quarter tends to be a slow time for approvals, but this spring was booming. TFW approvals were more than double in 2018 and he was in the same period in 2019. The company now hires up to 20% of its staff from his previous cap of 10% through the TFW program’s lower wage stream. And seven industries with severe labor shortages, including restaurants, construction and hospitals, have their caps changed to 30% over his one-year period.

Affordable Trap in Toronto and Vancouver

Are you a young person living in Toronto or Vancouver? You can also consider moving to a cheaper city. Without six-figure income or wealthy parents, everyone in their 20s and 30s should ask Whether Canada’s two largest cities have a future – This includes home ownership, writes Rob Carrick. Escaping the gravitational pull of these cities can be difficult, especially during career development, but migration patterns within Canada show that people are beginning to rebel against the high cost of living associated with addresses in Toronto and Vancouver. increase. According to Statistics Canada, more people left Ontario in the past year than moved there.

Dragon’s Den’s Arlene Dickinson Announces ‘Super Farm’

seasoned financier Arlene Dickinson Known for Dragons’ Den, this week she merge her marketing and communications firm Together with 5 other institutions and backed by the Canadian Business Growth Fund, we have launched a large scale company with international reach. The new company, called Believeco:Partners, will have approximately 300 employees across his seven offices in North America, serving clients in a variety of sectors including technology, food, health, agriculture, government and financial services. It is planned, reports Temur Durrani. It will combine Dickinson’s agency Venture Play with leading Canadian marketing firms Argyle, Brightworks, Zink, Revolve and Castlemaine. Dickinson told The Globe and Mail newspaper:

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