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5 Things to Know Today: The Money News Shaping Your Week

5 Things to Know Today: The Money News Shaping Your Week 1. Canada’s Economy Grew Faster Than Expected Canada’s economy expanded at an annualized 2.6% in Q4, driven by stronger household spending, exports, and business investment. 2. Manitoba Fast‑Tracks Major Infrastructure Projects A new federal‑provincial agreement introduces a “one project, one review” system to accelerate ports, highways, and energy corridors. 3. Job Market Shows a Small but Positive Uptick Canada added 14,000 jobs in March, with wages rising 4.7% — a key factor ahead of the Bank of Canada’s April 29 rate decision. 4. Oil Markets Remain Volatile After Hormuz Reopening Iran has reopened the Strait of Hormuz, but analysts warn global oil markets may take time to stabilize. 5. Canadians Face Rising Affordability Pressures More Canadians are turning to budgeting tools as inflation, energy costs, and housing pressures persist.

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Ontario College Faculty Strike Averted with Binding Arbitration Agreement

 


In a significant development, the College Employer Council and the Ontario Public Service Employees Union (OPSEU) have reached an agreement to enter binding arbitration, effectively averting a strike that could have impacted faculty and students across Ontario. 


The union, which represents over 15,000 faculty members, had issued a five-day strike notice last week, warning that labor action could begin as early as Thursday. However, after mediation sessions this week, both sides agreed to let an arbitrator resolve the remaining issues. 


While "significant benefit gains" were achieved in negotiations, several key issues, including work conditions, job security, and quality of education, remained unresolved. These outstanding matters will now be addressed by the arbitrator, who will make a final, binding decision.


The College Employer Council has assured that classes will continue as scheduled, ensuring that students' education will not be disrupted. 


This move to arbitration is seen as a positive step in resolving the dispute without the need for a strike, allowing faculty members to continue their work and students to stay on track with their studies. The outcome of the arbitration will be closely watched as it could set the tone for future negotiations in Ontario’s education sector.



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