Friday News Round Up: September 1, 2017

Ratehub.ca
by Ratehub.ca September 1, 2017 / No Comments

Here are some of the stories that caught our eye this week:

Bank of Canada rate announcement next week

Now that Canada’s economy has shown an annual growth rate of 4.5% in the second quarter — far exceeding expectations — some economists are predicting the Bank of Canada to raise its overnight rate as soon as next week.

The Bank of Canada rate announcements for the remainder of 2017 will be on Sept. 6, Oct. 25, and Dec. 6.

Smart thermostat, coming to you

Ontario’s Minister of the Environment and Climate Change Chris Ballard announced a new program that will offer up to 100,000 smart thermostats to Ontario homeowners, at no cost. The tech offerings are part of a $40-million program, which is a portion of a $377-million Green Ontario Fund.

The value of the thermostats is about $200 to $350 and are proven to lower overall heating and cooling costs. Homeowners in detached, semi-detached, townhome, or row homes can register now for the program.

Ontario renters get added protections

As of today’s date, those in Ontario who rent will be provided added protection. Landlords will be required to provide one month’s rent, or a comparable unit, to the tenant if the landlord ends their tenancy for a family member to move in.

Also, if the landlord re-rents to a non-family member, or demolishes/converts the unit within one year, he or she could face up to a $25,000 fine.

Uber’s new CEO and a possible IPO

It’s been a tough couple of years for Uber. Following lawsuits, allegations of sexual harassment, and mass firings Uber is entering a new era with their new CEO Dara Khosrowshahi, former CEO of Expedia. This week, Uber held an all-staff meeting to meet Dara before he officially starts on Sept. 5.

He spoke about refocusing on culture as well as their “core business” and said he believes Uber should go public within the next three years.

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