Canada’s EV transition, Gadhafi’s billions and the vanishing single-family home: Business and investing news for August 13

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Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.

What the EV transition means for the heart of Canada’s auto industry

The heart of Canada’s auto industry, located in Southern Ontario, is in the middle of a major transition as domestic parts companies foray into parts manufacturing for electric vehicles. It’s being called the biggest shift in automaking since vehicles started rolling off assembly lines more than a century ago. Adam Radwanski interviewed leaders from a dozen domestic auto parts companies from the Greater Toronto Area down to the Windsor-Detroit border to understand the early days of the transition and how its affecting their workers.

Moammar Gadhafi stashed billions in Canadian bank accounts, says former diplomat

Former Libyan dictator Moammar Gadhafi stashed away billions in Canadian bank accounts, which are still sitting idly almost 12 years after his death, according to a former diplomat. The disclosure comes at a critical time as Libya renews its efforts to recover billions of dollars’ worth of missing assets that were looted by Mr. Gadhafi and his inner circle. Rita Trichur, Stephanie Chambers and David Milstead report on the details of their exclusive interview with Libya’s former ambassador to Canada.

Building permits one more sign of the vanishing single-family home

Once a symbol of the middle-class dream, the single-family home could be facing its demise. The value of building permits for detached houses fell 35 per cent in June from the year before, while building permits were near the lowest levels reached in the early months of the pandemic – and the trajectory of this trend is unlikely to reverse. Jason Kirby takes a closer look in this week’s Decoder.

New temporary foreign worker pilot program to speed up approvals

The federal government has launched a pilot program to speed up the approval process for some businesses to bring in temporary foreign workers. Under the new “recognized employer” program, a business must prove it has “a history of complying with program requirements” to be given three-year approval, and won’t have to submit a Labour Market Impact Assessment before each application. Matt Lundy and Mark Rendell report on the three-year pilot program, which was designed to reduce the amount of paperwork companies need to submit to justify bringing in outside workers.

Canada’s largest pension funds confront the dilemma of investing in China

Canada’s largest pension funds are facing an investing dilemma: China is becoming an uncomfortably risky place to make big investments. James Bradshaw reports that fund managers are treading more cautiously as economic and diplomatic tensions between China and the West continue to grow. But, so far, pension funds such as the Canada Pension Plan Investment Board (CPPIB) have stopped short of any major moves to pull out of the market.

Home-sharing platforms match students with seniors who have empty bedrooms

In order to address the shortage of rental housing in Canada, two companies are matching students with homeowners, such as seniors, who have empty bedrooms. Home-sharing platforms Sparrow Living Inc. and SpacesShared aim to bridge a gap between the high costs of living and the loneliness epidemic, matching hosts and renters based on compatibility. Rachelle Younglai spoke to 63-year-old Brigitte Sharp who decided to list her empty room: “I like to have somebody to have a coffee with. If they pass by it’s like, ‘Oh, hi, how are you? How was your day?’ That kind of thing.”

Now that you’re all caught up, prepare for the week ahead with the Globe’s investing calendar and test your knowledge with our weekly business and investing news quiz.

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