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Latest Yahoo Finance Canada Videos
Yahoo Finance Canada VideosWhat to expect from Pierre Poilievre
With Parliament back in session, Canadians will be able to see newly minted Conservative Leader Pierre Poilievre square off against Prime Minister Justin Trudeau. On this episode of Editor's Edition, the Public Policy Forum’s Sean Speer and Yahoo Finance Canada's Alicja Siekierska discuss what to expect out of the new opposition leader in the House of Commons. Speer says that while many are used to Poilievre playing a “prosecutorial role” in parliament, Poilievre's next challenge will be to build on his base of support and try to reach new and different voters. “I think it would be in Mr. Poilievre’s interest to continue down that line and expand beyond the kind of combative persona that I think a lot of people tend to associate with him,” Speer said.
Yahoo Finance Canada VideosIs Trudeau’s inflation relief targeted enough?
With the House of Commons back in session, politicians are zeroing in on inflation and the affordability crisis facing many Canadians across the country. Prime Minister Justin Trudeau’s Liberal government has proposed new legislation to provide inflation relief for low-income Canadians by temporarily hiking GST credits and providing payments for those struggling to pay rent. It is also moving forward on developing a national dental care program, a key part of its supply-and-confidence agreement with the NDP. On this episode of Editor’s Edition, the Public Policy Forum’s Sean Speer and Yahoo Finance Canada’s Alicja Siekierska discuss the government’s plan to provide inflation relief for Canadians and whether it will contribute to the issue itself.
Yahoo Finance Canada VideosEditor’s Edition: ‘The pandemic is over,’ says Biden
“The pandemic is over,” U.S. President Joe Biden said in an interview with CBS’ 60 Minutes. While some public health officials have taken issue with Biden’s declaration, the Public Policy Forum’s Sean Speer says the comment is something to be proud of, as it reinforces that society has managed to get through a once-in-a-century pandemic. “Too many people died, too many people faced financial hardship, and I think there's going to be ongoing challenges with respect to educational loss and mental health issues,” Speer said. “But I think in a lot of ways, the President was saying something that I think a lot of people want to hear, which is that we need to ultimately move on. It doesn’t mean we should be reckless or irresponsible, but we were taking extraordinary steps… things that are extraordinary can’t become ordinary. It’s unsustainable.” On this episode of Editor’s Edition, Speer and Yahoo Finance Canada’s Alicja Siekierska discuss Biden’s comments about moving on from the COVID-19 pandemic, as well as why China is continuing to pursue a COVID-zero policy. They also discuss the government’s plan to provide inflation relief for Canadians and what to expect out of the new session of parliament, including the challenges ahead for both Prime Minister Justin Trudeau and new opposition leader Pierre Poilievre. If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.
Yahoo Finance Canada VideosU.K. PM’s plan to lift fracking ban is ‘obviously political theatre’
Britain's new prime minister has promised to lift a ban on fracking “within days” of taking office in a bid to boost U.K. fuel supplies as the country slips into a deepening energy crisis. Liz Truss has also vowed to issue more licenses for North Sea drilling. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He’s optimistic about the U.K’s. off-shore potential, while skeptical that fracking will yield meaningful supply gains. “There’s not a lot of land-producing energy in the U.K., and there hasn’t ever been,” Krausert told Yahoo Finance Canada’s Editor’s Edition. “It’s clearly, obviously political theatre.” Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosCould Alberta follow Texas’ plan to target ESG funds that ‘boycott energy’?
Lawmakers in Texas are taking aim at green investment with a plan to force the state's multibillion-dollar pensions to divest from financial institutions and funds that “boycott energy.” Could this idea gain traction in Alberta, as the home of Canada’s oil and gas industry heads for a provincial election in the spring? Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He’s not a fan of the strategy, but doesn’t rule out a candidate for premier using divestment as a talking point. “I guess we should be prepared for it,” Krausert told Yahoo Finance Canada’s Editor’s Edition. “I’m cautiously optimistic that the majority of Albertans will be able to see through any cheap political points that an election sometimes brings out.” Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosEditor’s Edition: Russia, Texas, and the ‘political theatre of energy’
Have ESG investors messed with Texas? The Lone Star state thinks so. Lawmakers in the heart of U.S. oil and gas recently accused ten financial companies, including investing titan BlackRock, and 350 investment funds of taking steps to “boycott energy companies.” Texas comptroller Glenn Hegar could force the state’s multibillion-dollar pension funds to divest from institutions named on a list released in late-August. BlackRock has called the decision “bad for the business climate.” BlackRock, UBS, and Credit Suisse have responded with evidence of ties to the energy sector. The Investment Company Institute, a U.S. industry lobby group, said the move “will only harm the ability of Texas police, firefighters, teachers, and other state civil servants to save for a secure financial future.” Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He hopes the idea does not make its way into the debate ahead of Alberta’s provincial election. “It’s just generally never a good idea never to pick fights with capital markets,” Krausert told Yahoo Finance Canada’s Editor’s Edition. “If Texas, the second largest economy in the United States, is having trouble doing this, little Alberta is going to have a much, much harder time.” He also weighs in on Russia’s closure of the Nord Stream 1 natural gas pipeline, and discusses the key drivers for the price of oil. Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosCanada-Germany LNG: Business case ‘stronger’ and ‘faster’ than Trudeau says
German Chancellor Olaf Scholz wants Canadian liquified natural gas (LNG) to play a “major role” in his country’s transition from Russian-supplied natural gas. Prime Minister Justin Trudeau has said Ottawa is willing to ease regulatory hurdles to help that happen. However, he also questions the “business case” for exports to Europe from the East Coast, including the hurdle of long-distance transportation. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He says the business case is “a lot stronger and a lot faster than our Prime Minister suggests.” “Today, you have an existing, operating LNG import terminal in New Brunswick operated by Repsol, the Spanish super major, that could be turned around quickly,” he told Yahoo Finance Canada’s Editor’s Edition. “There’s a lot of gas on the East Coast that wouldn’t have to transport that far.” Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosEditor’s Edition: Canada ‘losing the race’ on energy transition as Trudeau casts LNG doubts
German Chancellor Olaf Scholz’s Canadian trip forged agreements on hydrogen and ingredients for electric vehicle batteries. However, a deal to supply one of Canada’s European allies with much-needed natural gas wasn’t in the cards. On the final day of his visit, Scholz called for Canadian liquefied natural gas (LNG) to play a “major role” in boosting Germany’s LNG imports. Canada currently has no operational LNG export terminals. During the visit, Prime Minister Justin Trudeau questioned the “business case” for exports from Canada’s East Coast. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He says the business case is “a lot stronger and a lot faster than our Prime Minister suggests.” In the latest episode of Yahoo Finance Canada’s Editor’s Edition, Krausert also discusses the steep discount on Canadian natural gas, compared to soaring global benchmarks. He also touches on the carrot-versus-stick contrast between Canada and the U.S. on energy, following the recent passage of U.S. President Joe Biden’s Inflation Reduction Act. Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosHydrogen ‘technology gate’ hinders huge potential: expert
Canada and Germany have inked an agreement to work towards exporting hydrogen from the East Coast as Europe’s largest economy pursues alternatives to reliance on Russian natural gas. The announcement on Tuesday came as German Chancellor Olaf Scholz wrapped up an energy-focused tour of Canada. The federal government also struck an agreement on raw materials for electric vehicle batteries with Mercedes-Benz and Volksawagen. However, it remains unclear how Ottawa will address Scholz’s call for Canadian LNG to play a “major role” in Germany’s energy transition. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He says hydrogen has huge potential, but a “technology gate” will require investment in order to rapidly commercialize the industry. For example, Krausert said an electrolyzer technology breakthrough is required to produce so-called “green hydrogen” with saltwater, as some of the East Coast projects propose. Given the energy crisis unfolding in Europe, he warns against waiting for that to happen. “We’ve got an energy crisis now. Not in 10 years,” he told Yahoo Finance Canada’s Editor’s Edition. Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosWhy manufacturing hasn’t returned to Canada
A new report from RBC Economics says that although pandemic disruptions led to growing calls to bring some manufacturing back to Canada – a process known as reshoring – “there’s little evidence of supply chains returning to Canadian soil.” The report by senior economist Josh Nye said that factory construction fell to a decade low in Canada, and that domestic production is only surpassing imports in areas in which Canada is already a dominant player. The Public Policy Forum’s Sean Speer says if Canada wants to get serious about reshoring, governments will have to use policy tools to bring manufacturing back within our borders. “A reshoring agenda can’t be passive. If left to its own devices, the market will continue to push production to lower cost jurisdictions,” Speer said. “It’s going to require action on the part of Ottawa and the provinces if that’s something we want, and I happen to think it’s something we should be pursuing.” If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.
Yahoo Finance Canada VideosLong-term solutions needed for Ontario's healthcare system
Several hospitals in Ontario closed emergency departments last weekend due to a severe staffing shortage. In Premier Doug Ford’s throne speech this week, the government said it is working with stakeholders to identify possible solutions to ease the pressure facing the healthcare system. “Your government is actively engaging with health-system partners to identify urgent, actionable solutions and will implement whatever measures are needed to help ease immediate pressures,” Lt.-Gov. Elizabeth Dowdeswell said in the throne speech delivered on behalf of the Ford government. While the immediate issues facing the healthcare system, such as temporary emergency department closures, need to be addressed, the Public Policy Forum’s Sean Speer said the government must also focus on the long-term, structural problems in the system. “We know because of aging demographics, pressure on our healthcare system is only going to grow,” Speer said. “It’s going to require more than a short-term push if we’re going to ensure not just that these emergency rooms reopen in the short term, but that they are actually capable of serving patients over the long term.” If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.
Yahoo Finance Canada VideosEditor’s Edition: Fixing the vulnerabilities exposed by COVID-19
The COVID-19 pandemic exposed many vulnerabilities across the institutions and industries key to our society, including long-standing structural challenges within the Canadian healthcare system. In the post-pandemic recovery, many of those challenges have not gone away and have, in fact, been exacerbated by severe staff shortages, particularly in Ontario, where several hospitals have had to close departments due to a lack of staff. On this episode of Editor’s Edition, the Public Policy Forum’s Sean Speer and Yahoo Finance Canada’s Alicja Siekierska discuss the ongoing challenges in the healthcare system and how policymakers should address these issues. “The emphasis on addressing these short-term challenges needs to be matched by a kind of similar level of ambition about the need to address these longer term, structural problems,” Speer said. “We know that because of aging and demographics, the pressure on our healthcare systems is only bound to grow.” They also discuss why re-shoring has yet to happen in Canada, why the government has fallen short on providing some basic services, and how airlines should be dealing with consumers when it comes to cancellations and delays. If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.
Yahoo Finance Canada VideosCarbon capture a ‘panacea’ for airline industry, if tech and costs improve
Air Canada is among the major global carriers betting on direct air carbon capture and storage to help shrink the industry’s massive emissions footprint. While the technology is still in its infancy, it could play a critical role given the challenge of replacing large fossil fuel burning jets. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. “If you could get the cost of direct air capture down to a point where it was more competitive than some of these sustainable aviation fuels or hydrogen solutions, then you would have a panace,” he told Yahoo Finance Canada’s Editor’s Edition. “You’d need a big breakthrough in the technology to bring the costs in line.” Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosOttawa’s oil and gas emission cap plans risk ‘unintended consequences’
Ottawa has released preliminary plans for an emissions cap on the oil and gas sector, the latest step in Canada’s bid to reach net-zero by 2050. A discussion paper published earlier this month by Environment Minister Steven Guilbeault outlines two regulatory options; a sector-specific cap-and-trade system, or a steeper carbon price for the industry. The government says it intends to unveil full details in early 2023. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He sees alignment between Ottawa and the energy industry. However, he hopes the government’s approach evolves beyond the two proposed options. “I don’t think either are helpful. I think there are unintended consequences for both,” he told Yahoo Finance Canada’s Editor’s Edition. “If it is going down a road of bludgeoning an industry with a hammer, I don’t think that will be well received. It won’t result in emissions reduction, and probably just results in capital leaving the country.” Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosEditor’s Edition: Can oil & gas stocks overcome recession fears?
It’s been a nail-biting few weeks for oil and gas investors as recession fears pushed oil lower, knocking stocks from recent highs. This week, Cenovus Energy, Imperial Oil and Canadian Natural Resources are among the Canadian companies in the sector set to report financial results. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He says a mild recession today is not likely to have the same impact on the industry as previous economic contractions due to higher oil prices. “The industry hasn’t opened the spending gates on new production and new drilling like they have in the past. You still have a fundamentally very tight supply market,” he told Yahoo Finance Canada’s Editor’s Edition. “A small amount of GDP [related] demand destruction isn’t going to lower oil prices to a level that would cause any investor too much concern.” An analyst at Credit Suisse called for oil majors to report “one of the best quarters in terms of free-cash-flow generation.” In this episode, Krausert also discusses the Trudeau Liberals’ preliminary plan to cap emissions from the oil and gas industry, as well as opportunities to make air travel greener. Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosCOVID fatigue, lack of urgency a hurdle for booster campaign
Fourth doses of COVID-19 vaccines have started to roll out across the country as provinces expand eligibility requirements. Alberta is the latest province to expand access to second booster doses, joining other provinces including Ontario in allowing adults over the age of 18 to get another shot. On this episode of Editor’s Edition, Yahoo Finance Canada’s Alicja Siekierska and the Public Policy Forum’s Sean Speer discuss the challenges public health officials may have with this latest vaccination effort. Speer says public health officials – Ontario’s chief medical officer of health Dr. Kieran Moore in particular – need to offer “greater precision” when it comes to messaging around vaccines. “I think that Dr. Moore's comments probably have harmed the kind of public momentum around boosters,” Speer said.
Yahoo Finance Canada VideosHow inflation may impact climate ambitions
Inflation continues to soar in Canada, with the Consumer Price Index (CPI) hitting 8.1 per cent in June, the highest level in nearly 40 years. Rising costs have pushed the Bank of Canada to rapidly raise its benchmark interest rates, putting further pressure on households across the country. Persistent inflation may present a challenge for the government's climate change policy ambitions, says the Public Policy Forum's Sean Speer. The federal government is targeting net-zero emissions by 2050, and a 40 to 45 per cent reduction in emissions by 2030. "As household budgets tighten, and as we potentially fall into recession, one can't help but think that Canadians concerns about the environment will fall in turn, and demands for short term help on on some of these price issues will will trump long term concerns about the environment," Speer said. If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.
Yahoo Finance Canada VideosEditor's Edition: The Bank of Canada's biggest challenge
The Bank of Canada's decision to hike its benchmark rate by 100 basis points in July came as a surprise to economists, who were largely expecting the central bank to issue a 75 basis point increase instead. It's a move that signals how seriously the central bank is taking the inflation challenge currently facing the country, and one that will significantly effect the economy and households across the country, says the Public Policy Forum's Sean Speer. "The bank could be criticized, I think, for being slow to identify the growing risk of inflation and then to respond to it," Speer said.
Yahoo Finance Canada VideosTo be an EV supply chain player, Canada needs regulatory certainty
Belgian metals refiner Umicore SA is set to build a $1.5-billion facility near Kingston, Ont. Prime Minister Justin Trudeau said the announcement of a new facility to produce electric vehicles components is part of Canada’s “big bet” on becoming a key player in the global EV supply chain. According to Bloomberg NEF, Canada ranks fifth globally in terms of battery supply potential, behind China, the U.S., Germany, and Sweden. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He says the success of Canada’s ambitions will hinge on its ability to reassure investors with consistent regulations. “Regulatory certainty. Investor certainty. That’s what Canada needs to be focused on like a laser right now,” he told Yahoo Finance Canada’s Editor’s Edition. Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosCanadian oil producers would be ‘very healthy’ at US$70 per barrel
Canadian oil and gas stocks have been roiled by recession fears as central banks raise interest rates in a bid to put a leash on run-away inflation. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He says low unemployment figures suggest the economy will contract less than what’s priced into Canadian oil and gas stocks. “It’s not the fundamentals of the oil market, it’s the fundamentals of the economy that are driving the speculative drop in energy equities,” he told Yahoo Finance Canada’s Editor’s Edition. Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.
Yahoo Finance Canada VideosEditor’s Edition: Will recession fear keep clobbering oil and gas stocks?
Recession fears are overrunning a fundamentally strong market for oil and gas, sending stocks and benchmark commodity prices lower as investors weigh the possibility of an economic downturn that saps demand for fuel. Kevin Krausert is CEO and co-founder of Avatar Innovations, a Calgary-based venture capital firm and startup accelerator that pairs entrepreneurs with the biggest companies in Canada’s energy patch. He says the industry is “very healthy” at US$70 per barrel, after the benchmark North American price fell from US$122 in June. “This is still a very cash flow positive, strong industry,” he told Yahoo Finance Canada’s Editor’s Edition. “There’s obviously a certain amount of caution based upon the uncertain world we live in. But by and large, there is a lot of confidence in the energy industry.” In this episode, Krausert discusses the risk of Canada being left behind as global oil producers strive for cleaner barrels. He also weighs in on EV week in Canada, which has seen politicians make funding announcements for charging infrastructure from B.C. to P.E.I. Got a question for Kevin Krausert? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo Finance Canada VideosWhy passport delays are ‘kryptonite’ for Ottawa
Prime Minister Justin Trudeau announced last week that the government would create a task force aimed at reducing wait times for immigration and passport services. Passport offices across the country have been swamped in recent weeks amid a surge of people applying for new documents. “We know service delays, particularly in recent months, are unacceptable,” Trudeau said in a statement. “We will continue to do everything we can to improve the delivery of these services in an efficient and timely manner.” The Public Policy Forum’s Sean Speer says the passport issue should be the top priority for the government, and that a task force is not enough to deal with “such a fundamental problem.” “This is an issue that not only will resonate with a lot of people, it's an issue where the perceptions will harden and last for some time,” Speer said. “If I was working for the Prime Minister, this would be priority No. 1.” If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.
Yahoo Finance Canada Videos‘Politicians have to be very careful’ with inflation response
With inflation reaching highs not seen in nearly four decades, pressure is ramping up on governments to provide Canadians with some form of relief from high prices. But governments will have to be “very careful” when it comes to inflation relief, says the Public Policy Forum’s Sean Speer. He says that some policies, such as sales tax holidays, could result in higher interest rates if the Bank of Canada has to offset further boosts in demand. However, one area where Speer sees opportunity for the government to provide Canadians with financial relief is with the carbon tax. “There is a policy rationale that could be characterized as coherent and justified, to provide for at least in the short term, some temporary relief from the carbon tax,” Speer said. “That's one area where I think the government could take action without necessarily producing (a) challenge for the Bank of Canada.” If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.
Yahoo Finance Canada VideosEditor’s Edition: How Ottawa should handle inflation
Inflation continues to soar in Canada, with the Consumer Price Index (CPI) jumping 7.7 per cent in May, the biggest year-over increase since Jan. 1983. As many Canadians seek relief from high prices, a Yahoo/Maru Public Opinion poll has found that a majority of Canadians believe Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland have “no solid plan” to tackle inflation and rein prices in. The Public Policy Forum’s Sean Speer that while pressure grows on governments to respond to the inflation issue, politicians need to be careful in ensuring policies don’t exacerbate the current problem by boosting demand. “Any policy policies that have the effect of boosting aggregate demand are only going to make the challenge before the Bank of Canada even more difficult,” Speer said. “It’s going to test out politics, our society and our economy in quite profound ways.” On this episode of Editor’s Edition, Yahoo Finance Canada’s Alicja Siekierska and the Public Policy Forum’s Sean Speer discuss the political fallout related to inflation and how governments should respond to it. They also dig into recession concerns, Ottawa’s handling of the passport backlog and a new study analyzing Canada’s response to the COVID-19 pandemic. If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.
Yahoo Finance Canada VideosHow Walmart is using tech to help with inflation pressure
As retailers around the world grapple with inflationary pressure, a Walmart (WMT) executive says technology will play a critical role in helping keep prices low. Suresh Kumar, Walmart’s chief technology officer and chief development officer, said in an interview with Yahoo Finance Canada that the deployment of technology in-stores, online and throughout the supply chain will be critical for the company, particularly in today’s economic environment. “Our mission is to help people save money so they can live better lives, and technology is not just an important part of that, it is in fact critical,” Kumar said at the 2022 Collision tech conference. “It's a critical enabler of us being able to meet that promise and to be able to fulfill that. Especially in this inflationary environment, it becomes really important to make sure that we can drive efficiencies in our system.” For example, Kumar points to the rollout of Mobius, technology that simulates the process of getting a good from the manufacturer to the Walmart shelf or customer’s home to determine what is the most efficient way to move that product. The company is also working on deploying technology both in-store and online to make shopping more convenient for customers. “We want to make sure technology is there to make the shopping experience as seamless and as friction-free as possible,” he said. As it continues to invest in technology, Walmart is also increasing its presence in Toronto. The retail giant announced in March that it will expand its engineering hub in Toronto, hiring several hundred new workers over the next 12-months. Kumar said the company sees Toronto as being “one of the big tech hubs” for Walmart. “Toronto has got incredible talent,” he said. “There are lots and lots of universities and lots and lots of great talent that’s available within Toronto. And so that’s the reason why we are here… We really want to double down on the investment in Toronto.” Alicja Siekierska is a senior reporter at Yahoo Finance Canada. Follow her on Twitter @alicjawithaj. Download the Yahoo Finance app, available for Apple and Android.