Skip to main content

Featured

Gulf War Flare-Up: What the Latest U.S.–Iran Strikes Mean for Your Wallet

  The three-month-old war between the U.S.–Israel coalition and Iran escalated again this morning. Here's a plain-English breakdown of what happened — and what it means for your gas tank and grocery bill. What Happened on June 6? U.S. forces struck Iranian coastal radar sites on Saturday, June 6, after shooting down drones launched by Iran toward the Strait of Hormuz, according to the U.S. military. The U.S. military believes the four Iranian drones were targeting regional maritime traffic. U.S. Central Command said it struck Iran's surveillance sites in Goruk and Qeshm Island, both located on the Strait of Hormuz. Iran did not take that lying down: Iran's Revolutionary Guard Corps said it had targeted U.S. bases in Kuwait and Bahrain in retaliation and fired on four tankers attempting to cross the strait without its permission. U.S. forces also helped shoot down incoming Iranian missiles and drones directed at Kuwait and Bahrain — a barrage of seven ballistic missiles in t...
Post a Comment
Read more

article

Labels

Boxing Day Sales See Smaller Crowds Despite GST Break

 

Retailers across the country experienced smaller crowds and cautious spending on Boxing Day this year, despite the federal government's GST holiday. While the tax break, which makes a variety of items GST-free for two months, did attract some shoppers, many consumers remained hesitant due to ongoing cost of living concerns.

Shoppers at Fairview Mall in Toronto, like Nakul Singal, took advantage of the deals but expressed that the tax break alone wasn't enough to offset the high costs of living**. Singal mentioned, "It's good to shop around during this time, but we're still struggling with expenses, especially housing.

Retail Council of Canada's Matt Poirier noted that businesses faced challenges implementing the tax break on short notice, and some older payment systems struggled to adapt.  An RBC Economics report also indicated that retail spending slowed in November, with holiday spending slightly below 2023 levels over the Black Friday weekend.

Despite these challenges, some retailers, like GameStop in north Toronto, saw an influx of customers eager to benefit from the tax holiday. Assistant store manager Joey Comia-Orellano said, "We've been getting shoppers before Boxing Day, and we expect it to get busier as consumers look to save with Boxing Day deals combined with the tax break."

Overall, while the GST break provided some relief, it wasn't enough to fully counteract the economic pressures faced by many Canadians.




Labels:

Comments

Post a Comment