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The digital economy is the economic activity conducted through digital technologies such as the Internet. It is also called the Internet economy, the new economy or the web economy. Many scholars see the digital economy as the fourth industrial revolution. As of 2013, it consumed approximately 10 per cent of the world’s electricity. Many of the world’s biggest companies operate in the digital economy. A growing number of Canadians depend on it for their livelihood. In 2017, nearly 5 per cent of all jobs in Canada were in the digital economy. The gross domestic product (GDP) connected to it represented 5.5 per cent of Canada’s total economy — a bigger percentage than mining or oil and gas extraction. However, the often-hidden infrastructure of the digital economy brings new threats to the environment. The rise of cryptocurrencies could also dramatically change how people buy and sell things.

People did not start drilling for buried petroleum until the middle of the 19th century, though its existence had been known for centuries.

SNC-Lavalin is a global engineering and construction firm based in Montreal, Quebec. It works in several industries including oil and gas, mining, cybersecurity and nuclear power. It also builds public and private infrastructure around the world.

The company began in 1911 as an engineering consultant for power projects. In 1991, the original company, called SNC, merged with competitor Lavalin to become SNC-Lavalin. Today it employs some 50,000 people in more than 50 countries. In 2018, it registered $10.1 billion in revenue.

In Canada, the company has received contracts to build major transit projects in cities including Toronto, Montreal and Vancouver. Worldwide, SNC-Lavalin oversees resource-extraction and infrastructure projects in North America, the Asia-Pacific region, Europe and the Middle East.

Since 2011, allegations of fraud and corruption on the part of SNC-Lavalin and several of its executives have plagued the company with scandal.

Canopy Growth Corporation was the first cannabis company in North America to be federally regulated and publicly traded. The Canadian company, headquartered in Smiths Falls, Ontario, produces a large portion of Canada’s legal cannabis flower, oils and edibles under its various brands. Its products are sold in all 13 Canadian provinces and territories. With more than two dozen subsidiaries and operations on five continents, Canopy is one of the world’s largest cannabis and hemp corporations. It employs 2,700 people full-time and is worth more than $20 billion.

Loblaw Companies Limited is a subsidiary of George Weston Limited. It operates supermarkets, drug stores, liquor stores and clothing stores. In 2018, Loblaw Companies Ltd. operated more than 2,400 stores, making it Canada’s largest food and drug retailer. It is a public company headquartered in Brampton, Ontario. It trades on the Toronto Stock Exchange under the symbol L.

This text is from the free Toronto in Time app, which was created by The Canadian Encyclopedia and is available from the App Store and the Google Play store. Visit its companion website, which is linked below, to explore all the features of the app online.

Global Affairs Canada (GAC) was originally founded as the Department of External Affairs in 1909 by Prime Minister Sir Wilfrid Laurier. The operations, mandate and title of the department have evolved over the years. Although legally incorporated as the Department of Foreign Affairs, Trade and Development, its public designation since 2015 has been Global Affairs Canada.  The department is responsible for overseeing Canada’s international engagement, including diplomatic relations, providing consular services, promoting international trade and international law, and leading Canada’s international development and humanitarian assistance.

Capitalism is an economic system in which private owners control a country’s trade and business sector for their personal profit. It contrasts with communism, in which property effectively belongs to the state (see also Marxism). Canada has a “mixed” economy, positioned between these extremes. The three levels of government decide how to allocate much of the country’s wealth through taxing and spending.