News of the day: Exports surge, venture capital investment jumps, defying economic gravity, MDA satellite deals, World Cup drives spending and more
It’s Tuesday, August 4. Here are the top stories we’re following today.
High energy prices fuel surge in Canadian exports in second quarter
Total exports rose by 13.1 per cent for the quarter, while imports increased by 4.2 per cent. It was the strongest increase in exports since the third quarter of 2020, according to Statistics Canada data published on Tuesday.
It marks the first year-over-year increase in first-half venture capital investment since 2021, with the bulk of the gains coming early in the year. Second quarter investment this year declined seven per cent to $1.29 billion from the first quarter’s $1.39 billion.
Our federal government keeps trying to defy economic gravity and failing
Canada has a recurring pattern of tax measures built for a headline and drafted without regard for how people move, writes Kim Moody.
Ottawa’s Telesat Corp. said that it is expanding its Telesat Lightspeed low-earth orbit network by 67 satellites, lifting its total number of fully funded satellites to 225 from 156. Brampton, Ont.-based MDA Space Ltd. will manufacture an additional 27 satellites for Telesat.
Toronto and Vancouver hosted 13 matches during this year’s World Cup run. Visa said its data reveals the tournament left a measurable economic impact on local <a href="https://bitcomme.com/crm-features-your-business-cant-function-without/” title=”CRM Features Your Business Can't Function Without”>businesses across the two host cities.
