It’s looking like a risk-off day after data revealed that China’s factory output growth has slowed to a 17-year low, stoking fears about the global economy. Investors are also concerned about rising tensions between the U.S. and Iran after two tankers were apparently attacked south of the Strait of Hormuz. All U.S. futures are in the red.
Health Canada holds a briefing on the next step in the legalization of cannabis today and there is anticipation that edibles will be on the menu. Cannabis edibles, extracts and topicals will become legal no later than Oct. 17, but rules for these products have not yet been issued. With fans across the country delirious today over the Toronto Raptors’ historic win over the Golden State Warriors to seize the NBA championship, Joe O’Connor takes a timely look at what this means in dollars and cents. If the experience of past winners such as the Warriors is anything to go by, the Raptors’ value is about to skyrocket.
And here’s one more reason to celebrate this weekend, it’s Tax Freedom Day: the day you stop working for the government and start working for yourself. According to the Fraser Institute, the average Canadian family would have to work from Jan. 1 until June 13 to pay upfront the $52,675 in taxes owing on an income of $117,731 . You can calculate your own personal tax freedom day here.
Don't tell Trudope or Climate Barbie.
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