It is Thursday, June 4. Here are the top stories we are following today.
Canada's New AI Plan Commits Billions for AI Adoption, Jobs, and Skills Training
The federal government says it is committing billions to supercharge the adoption of artificial intelligence across the country. The initiative supports companies including AI startups and aims to boost AI literacy, skills, and trust in the technology. Prime Minister Mark Carney stated, "We must take a positive, pragmatic and prudent approach that builds safe, reliable and sovereign AI for workers and businesses (and) for Canada and our allies."
Ottawa's Budget Watchdog Predicts Bank of Canada Will Hike Interest Rate to 2.75% in 2027
Ottawa's budget watchdog's new economic outlook projects the Bank of Canada will hold its key interest rate steady through 2026 before gradually raising it to 2.75 per cent by the end of next year. The Bank of Canada next decides on interest rates on June 10.
Garry Marr: The Revenge of the Defined Contribution Pension Plan
Tell a 60-year-old Canadian with a $4,200 per month defined benefit pension that they are sitting on an asset worth close to $1 million, and they might shrug it off as an abstraction. Offer that same person that lump sum up front, and it is a different story. Not everyone will embrace defined contribution, but it is an opportunity to create your own wealth.
Why Adding Adult Children as Joint Owners Can Create More Problems Than It Solves
Joint assets may seem simpler but families may end up not speaking with each other, writes Ida Khajadourian. Before adding an adult child as a joint owner, families should first ask what problem they are trying to solve.
When It Comes to the U.S., the First Negotiation Is Not the One That Matters Most
The current round of Canada-United-States-Mexico-Agreement talks are just a staging ground for the next round. It is what we do in between that will matter most, writes Eliot Pence.
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