Business and Investing Stories for Jan. 5

Major U.S. banks quit climate alliance, Canada’s factory activity rises and personal finance changes in 2025 are the top business and investing stories for Jan. 5. Capital gains, tax bracket adjustments and new rules for down payments and mortgages are just some of the biggest changes in personal finance coming in 2025.

The federal government’s move to raise the capital-gains inclusion rate hasn’t yet passed into law due to political turmoil in Parliament, but the Canada Revenue Agency (CRA) is advising Canadians to file their taxes based on the proposed tax changes. Additionally, all five federal income tax brackets have been adjusted for 2025 to keep up with inflation – rising by 2.7 per cent for 2025, compared with an increase of 4.7 per cent for 2024. Over 14 months in Canada, 29-year-old Hichem Nasri held cleaning jobs at a transportation company, an oil refinery, a bank and a Canadian Tire store. Mr. Nasri, who came to Canada from Tunisia as a cleaner, said he experienced racism and financial abuse in multiple jobs as a temporary foreign worker, calling it a “hell I don’t want to ever go through again.” He spoke with reporter Vanmala Subramaniam about his experiences in Canada and not being paid on time, poor treatment by employers, and injuries on the job. “This whole year was a waste of my time and money,” he told The Globe. “Why would I choose to be disrespected?”Hichem Nasri, a 29-year-old from Tunisia, calls his year-long experience navigating the Canadian workforce as a temporary foreign worker 'a hell I don’t want to ever go through again.' Canada entered the new year standing out in a world of manufacturing gloom

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