July 20th, 2024

In the news today: Oilers look ahead after Cup final loss, inflation report due

By The Canadian Press on June 25, 2024.

Edmonton Oilers centre Leon Draisaitl (29) skates with the puck as Florida Panthers defenceman Niko Mikkola (77) defends during the third period of Game 7 of the NHL hockey Stanley Cup Final, Monday, June 24, 2024, in Sunrise, Fla. THE CANADIAN PRESS/AP-Wilfredo Lee

Here is a roundup of stories from The Canadian Press designed to bring you up to speed…

What’s next?: Interesting off-season ahead for Oilers after Stanley Cup final loss

The Oilers could see the Panthers celebrating on the ice and hear them down the hallway. Florida won its first Stanley Cup late Monday night, besting Edmonton 2-1 in Game 7 after blowing a 3-0 lead in the title series. The Panthers will spend the summer sipping from hockey’s holy grail but the Oilers, meanwhile, have plenty of questions about the future. Top of the list is the future of star centre Leon Draisaitl, who has one year left on his current contract that carries an average annual value of US$8.5 million, and is eligible to sign an extension as of July 1.

Statistics Canada to release May inflation report today

Statistics Canada is set to publish its May consumer price index report this morning. Economists are expecting inflation slowed slightly last month, which would be another good sign for the Bank of Canada. The central bank, which has been encouraged by the slowdown in inflation, cut its key interest rate by a quarter of a percentage point earlier this month. Economists say May and June inflation data will play a key role in the central bank’s next interest rate decision scheduled for July.

Here’s what else we’re watching…

Capital gains tax changes come into effect today

The Liberal government’s changes to capital gains taxation come into effect today despite significant pushback from business and physicians’ groups. Finance Minister Chrystia Freeland’s spring budget proposed making two-thirds of the profit made on the sale of assets taxable, up from one-half. For individuals’ capital gains of $250,000 or less, the inclusion rate would remain the same, at 50 per cent. At a time when the Liberals are looking to woo back young voters, Prime Minister Justin Trudeau has pitched the effective tax increase as a way to deliver generational fairness.

Canada’s fastest-growing demographic is aged 100

Statistics Canada data show the country’s population of people aged at least 100 more than tripled between 2000 and 2023, up from 3,393 to 11,705. That makes centenarians the fastest-growing age group in Canada, and the agency says their numbers are poised to rise almost ten times higher over the next half-century. Experts attribute the rise to improvements in health care and medical awareness, although genetics likely plays a key role in individual cases. Some relatives interviewed by The Canadian Press see their loved ones’ great longevity as a blessing, but a testing one.

Influencers paid to counter disinformation: feds

Since 2021, federal government departments and agencies have spent at least $1.7 million on influencers, and influencer marketing campaigns and strategies, documents recently tabled in the House of Commons and publicly available contracts show. It’s just a fraction of what the government otherwise spends on traditional advertising. Most of the social-media money is going towards institutions that have public service announcements to put out about health, travel or other topics that are also fodder for newspaper ads or commercials on TV and radio. Influencers have been hired to put out government-approved messaging on topics such as safe cannabis use, dementia prevention, sexual health and mental-health resources.

This report by The Canadian Press was first published June 25, 2024.

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