Test life coaches; The banking industry has a problem with racism: CBC’s Marketplace cheat sheet

Missing something this week? Do not panic. Radio Canada Marlet brings together the consumer and health news you need.

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Worried about rising food prices and confused about inflation? Read it

If you’re wondering why your bills seem to keep going up, you’ll want to check out this explainer.

Recent data from Statistics Canada shows inflation hovering around 5%, well above the 2% target rate that experts say is the sweet spot.

This is worrying news. But what does this mean concretely?

To help understand all of this, here is a brief explanation of how inflation works and what can be done to curb the rising cost of living. Read more

High inflation is squeezing Canadians’ budgets, leaving many worried about their ability to afford necessities like food and shelter. (Radio Canada)

The bank has a racism problem. Will a summit of black business owners and bankers find solutions?

Many black community business owners have struggled to access bank financing due to barriers caused by systemic racism. The problem has gained more attention in recent years, but progress isn’t happening fast enough, entrepreneurs say.

This is the reason for a virtual conference that aims to fight systemic racism in the banking sector and help Black Canadian entrepreneurs access financing to start and grow their business.

One of the biggest hurdles for black businesses in Canada is the difficulty of accessing business financing and the lack of family guarantees needed to apply for the necessary financing, say the organizers of the Black Business Summit.

Organizers want to bring together black entrepreneurs and banking professionals to discuss how to complete a loan application, the services available, and much broader topics, such as rethinking how banks decide who to fund. Read more

According to the organizers of the Black Business Summit, one of the biggest obstacles for black businesses in Canada may be the difficulty of accessing business financing and the lack of family guarantees necessary to apply for the necessary financing. (Radio Canada)

Cryptocurrency scam costs Calgary thousands

be very beware of where you buy your cryptocurrency.

It’s a lesson Joel Woodhouse learned the hard way and wants to share with others.

He says he lost around $16,000 in bitcoins after investing in an online crypto brokerage, WinBitX, which he saw advertised on Facebook.

It seemed like everything was normal at first, with company representatives showing him statistics and other data to convince him that they would make a profit on his investment.

But when he went to make his first withdrawal, no one answered his calls or emails.

He soon realized he had been scammed.

Tom Keenan, professor at the University of Calgary, author of Technocreep, sYes, there are ways to avoid making the same mistakes again.

“If someone calls you on the phone, it’s almost a sure sign that you don’t want to deal with them. If it’s something you found on Google or they emailed you no solicited, that’s a bad sign,” Keenan said. .

If you don’t recognize a company’s name, Keenan added, that’s usually a good reason to stay away. Read more

USB storage drives made in the shape of the bitcoin logo sit in a case at a cryptocurrency exchange in Calgary. A townsman says he lost about $16,000 in cryptocurrency after investing in a service advertised on Facebook. (Sarah Rieger/CBC)

What else is going on?

Walmart ships fraudulent order to hacker’s address then lets customer recoup cost
After hearing from Go Public, Walmart Canada reimbursed the cost of the Apple TV.

A longtime Indigenous client of Giant Tiger — until he says he was falsely accused of theft
Hector King Jr. says he’s been racially profiled and still hasn’t received an apology.

Brut Classic Deodorant Spray recalled due to possible presence of benzene
Immediately stop using and properly dispose of the recalled aerosol product.

These wooden teethers are being recalled due to a choking hazard
Consumers should immediately stop using Bébé au Lait teething rings.

This week on Marketplace

Testing Life Coaches: Secret Investigation

Exposing “dangerous” advice on mental illness and hard-selling tactics used to attract potentially vulnerable customers. 22:31

We’re back this week with an in-depth look at the growing world of life coaching.

Many coaches help clients work on things like mindfulness, goal setting, confidence building, and offer career and love advice.

But they are not therapists. They also shouldn’t treat people with mental illnesses, experts say.

Also, understand this: there is no one regulating the industry.

Anyone can call themselves a life coach, whether they have received training or not.

This is why three Marlet the producers, including myself, created covers with the help of several experts and met with several life coaches in Canada and the United States.

We wanted to know if they would push the envelope and offer unqualified advice about mental illness or if they would live within the parameters of their profession.

Some even use life coaching to promote dangerous and discredited practices like conversion therapy.

In my case, my cover hit me closer to home, as I prepared to meet a life coach who promised he could help me deal with my “same-sex attractions.”

As a proud gay man, it wasn’t easy talking to this coach. Here is a man who viewed my sexuality as a problem to be solved rather than celebrated.

Talking to him was triggering. I was reverting to a mindset I myself had once felt—ashamed of my sexuality and willingness to do anything to change it—and being validated by a man preaching a scientifically discredited practice.

But despite this discomfort, meeting him was still worth it.

Although I have never had conversion therapy, I fully understand how rampant homophobia and pressure from families, friends and religious groups can drive someone to such extremes.

When I finally came out almost a decade ago, I felt tremendous relief.

I am now in a romantic relationship, I have supportive friends and family, and I am well aware of all the ways being gay has improved my life for the better. But I wish I had known sooner what I now know to be true – that coming out of the closet isn’t just necessary, it’s transformative.

And if our investigation can turn even one person away from conversion therapy, I’ll consider it a wild success.

This is just one segment of our show this week and I hope you tune in to see the rest.

Watch above and catch past episodes anytime on CBC Gem.

You don’t want to miss it.

-Andrew Sampson and the Marketplace team

The marketplace needs your help

Do you have a story you think we should investigate? We want to hear from you. Email us at [email protected].

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