Fast Canadian business news. Get up-to-speed quick with a fun and smart breakdown of the three biggest Canadian and global business stories in less than 10 minutes.
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Bottoms up 🍷 — Winemakers push back on teetotalling. Buffett is stacking his cash.
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With wine consumption plummeting to a 27-year low, the industry is trying to make people feel better about indulging in a bottle of vino. The Oracle of Omaha has gazed into his future and seen a lot of cash.Av The Peak / Curiouscast
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Loonie lunacy 💵 — The loonie hits a four-year low, Cruise lines invest in private islands.
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Like the Jack-o’-lantern starting to rot on your porch, the loonie isn’t looking too good this morning. As cruise companies continue to rake in record profits, they’re setting their sights on what could be the industry’s next big play: private islands.Av The Peak / Curiouscast
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Up in the air 🛫 — U.S. economy stays strong ahead election. Canada welcomes back Chinese flights.
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As Kamala Harris and Donald Trump gear up for election day, one factor could decide the race. To quote the legendary political strategist James Carville: “It's the economy, stupid.” After a year of talks, China and Canada have made progress on increasing flights between the two countries as pandemic-era restrictions and political spats fade.…
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Big fish 🐠 — Shopify is trawling for bigger fish. Robots may help Canada's housing crisis.
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The Canadian e-commerce company that got its start selling snowboards online is expanding beyond mom-and-pop shops. Could the solution to Canada’s housing shortage lie in robots picking up the slack?Av The Peak / Curiouscast
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Sick day 🤒 — Doctors are sick of sick notes, Canada Post strike
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The only people who hate sick notes more than under-the-weather employees? The family docs who have to sign them. Rain, hail, and sleet might not stop mail couriers from delivering letters, but a strike could.Av The Peak / Curiouscast
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Doors Closed 🚪 — Ottawa slows its roll on immigration, Everybody wants to know about the weather
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For the first time in over a decade, Ottawa is planning to reduce the number of new immigrants entering Canada. New numbers from The Weather Network confirm what we already knew to be true: everybody is obsessed with checking the weather. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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Québec vs. Goldman ⚜️ — A fight over Northvolt money, The return of the house hippo.
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Swedish EV battery maker Northvolt is — to use a highly technical financial term — in deep doo-doo. The federal government convened 200 leaders from the public and private sectors at Hotel Bonaventure in Montréal this month to share ideas on strengthening the country’s workforce. The friendly house hippo that taught Canadians not to trust everythin…
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Deciding factor 🗳️ — Democrats campaign in Canada, Soccer fandom goes international.
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With the U.S. presidential election less than two weeks away gulp, canvassers are busy going door-to-door to get the word out in… Windsor, Ontario? The Major League Soccer (MLS) playoffs kicked off last night, but the league was already popping champagne after notching the best regular season in its 27-year history. Celebrating something? Let us kn…
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Edible Content 🍗 — Restaurants get into streaming and digital duties.
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There’s a (very slight) chance that the next series you binge will be a Chick-fil-A original. Canada is trying to bring the system responsible for collecting $40 billion a year in tax revenue into the 21st century, but a new digital portal is causing confusion for shippers. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MN…
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Race day 🏃♀️ — Running boom and presidential predictions.
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Marathons are becoming so popular that race bibs are starting to get resold like they’re Oasis reunion tour tickets. Opinion polls may show a tight race between Kamala Harris and Donald Trump, but on upstart prediction markets, Trump has suddenly become a heavy favourite. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdY…
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Out at sea 🌊 — BRP is letting its boat biz drift out to sea , Inuktut finds a home on Google Translate
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The company behind Ski-Doo wants to burn more rubber, shred more pow, and ride fewer waves. The language spoken by over 39,000 Inuit people across Canada has been added to the world’s go-to translator. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TOAv The Peak / Curiouscast
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Spilled Milk 🥛 — Canada is spilling billions of litres of milk, The feud over bike lanes heats up.
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Canada has been wasting more milk than a toddler refusing to use their sippy cup. Ontario has a new idea to cut down on traffic in case plans to build the world's biggest highway tunnel don’t pan out. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TOAv The Peak / Curiouscast
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House of The Rising Sphere 😀 — Spheres Spheres everywhere, investing is extremely online.
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The Sphere, the 366-foot-tall domed venue in Las Vegas with an eye-catching LED exterior, is getting a sister location A growing number of young folks are getting their investment advice from the same place they shop, date, and fawn over videos of baby hippos: the internet. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MN…
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Mountain Views ⛰️ — Alberta’s plan to save the view, SpaceX catches a rocket
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Alberta is hatching a plan to preserve their mountain views at the cost of renewable energy. SpaceX flexes it’s muscles, catching a rocket. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TOAv The Peak / Curiouscast
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Looking Up 🌌 — The northern lights economy is booming. TD hit with record money laundering penalty.
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More people are trading in Disney World vacations and Caribbean cruises for a chance to see the dancing green and purple skies in some of Canada’s most remote communities. TD Bank Group is facing the largest money laundering penalty handed to a bank in U.S. history.Av The Peak / Curiouscast
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Breaking up 💻 — Regulators want Google to split. Couche-Tard bumps up its 7-Eleven bid.
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Good morning. We’re hosting a competition at the Bet on Canada Summit in Toronto on November 5 to narrow down the companies where people actually like working. With bonus season around the corner, we can’t think of a better way to get in your boss’s good books. Submit your pitch here. If U.S. regulators have their way, Google Chrome could become ju…
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Roaming over 📱 — Regulator cracks down on $16-a-day roaming fees. Algorithms are the new boss.
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Canada’s telecoms regulator wants to end the reality of alarming phone bills after a weekend trip to the States. Kissing up to your boss in the months leading up to bonus season might become a thing of the past as algorithms increasingly take over compensation decisions.Av The Peak / Curiouscast
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Island paradise 🏝️ — An affordable island home isn’t a pipe dream. U.S. Indigenous group claims rights to B.C. land.
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An Indigenous group in Washington state is looking for a cut of the profits made on land in southern B.C. The Toronto Islands neighbourhood is one of Canada’s most sought-after communities. Securing a home there isn’t easy, but you now have the slightest chance of doing so.Av The Peak / Curiouscast
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Gimme shelter 🏠 — Toronto hospital’s radical housing experiment, Starbucks protects its coffee future.
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One of Canada’s largest hospital networks is launching a radical experiment in housing the homeless. The world’s biggest coffee chain is trying to innovate its way around erratic weather. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TOAv The Peak / Curiouscast
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Raising the roof ✈️ — Koho wants to become a real bank. VTOLs take off.
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Like Pinocchio wishing upon a star to become a real boy, Koho is wishing upon a cash infusion to become a real bank. The once far-fetched future of flying cars has gotten a major vote of confidence from an industry giant. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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Presidential first 👩⚖️ — Mexico gets its first female president, Senators look for doctor shortage solution
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North America just got its first-ever elected woman head of state (apologies to former Canadian prime minister Kim Campbell, who was neither elected nor head of state). With 6.5 million Canadians living without a family doctor, a group of senators are hoping international med school grads can help fill the gap. Celebrating something? Let us know he…
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Belly-up 🏢 — Canada’s biggest purpose-built concert venue, Businesses are dropping like flies.
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Concert industry leviathan Live Nation is constructing Canada’s largest purpose-built concert venue. Canadian businesses are shutting their doors at a rate the country hasn’t seen since the start of the pandemic.Av The Peak / Curiouscast
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Big tunnel 🛣️ — Ontario could be getting a giant traffic tunnel. Canada works to secure vaccine independence.
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Ontario is kicking the tires on an infrastructure project that will make the province's $16.8 billion GO train expansion look like a cute side project. Like a well-prepared bartender on a Saturday morning, Canada is taking steps to ensure that it won’t run out of shots.Av The Peak / Curiouscast
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Basement ban 🌊 — Montréal has a basement problem, Qualcomm flirts with Intel takeover.
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Basements are great for pool tables, wine cellars and mini-stick rinks, but renting them out as apartments could soon be a thing of the past. They say it’s always darkest before the dawn — or in beleaguered chipmaker Intel’s case, before the buy-out offer.Av The Peak / Curiouscast
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Wage gains 💵 — Border smuggles take to TikTok, Get ready for some wage gains.
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You can buy anything on TikTok these days: galaxy projectors, novelty egg cookers, and detailed instructions on how to illegally enter another country. As wages grow, Canadians could find themselves with a bit more money in the new year.Av The Peak / Curiouscast
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Sporty and rich 🏒 — Rogers now owns men’s sports, VC investments lose their shine.
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Friends, family, and loved ones, we’re gathered here today to pay our respects to the work-from-home era. Today in predictable news: A province’s decision to let more than 4,000 convenience stores start selling alcohol continues to stir up controversy. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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“Reasonable” AI 🤖 — OpenAI releases a better model, Lululemon threatened to leave.
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OpenAI’s top-secret AI model (weirdly code-named Strawberry) is finally seeing the light of day. Lululemon says it wants to keep its headquarters in Canada but is keen on continuing to recruit talent from elsewhere. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TOAv The Peak / Curiouscast
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Slow build 🏡 — Canada continues China crackdown, Amazon gets into budget groceries.
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According to Transport Canada, there’s something fishy about the air cargo shipments coming from Europe lately. And no, we’re not talking about crates of Italian sardines. For many years, Rexall has been living in Shoppers Drug Mart's shadow, but the chain’s new ownership could help revitalize its position in the Canadian market. Celebrating someth…
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Degree return 🎓 — Returns on some degrees is shrinking, Torontonians lose to fake taxis.
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According to Transport Canada, there’s something fishy about the air cargo shipments coming from Europe lately. And no, we’re not talking about crates of Italian sardines. For many years, Rexall has been living in Shoppers Drug Mart's shadow, but the chain’s new ownership could help revitalize its position in the Canadian market. Celebrating someth…
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Suspicious cargo ✈️ — New rules on European cargo, Rexall has a new owner.
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According to Transport Canada, there’s something fishy about the air cargo shipments coming from Europe lately. And no, we’re not talking about crates of Italian sardines. For many years, Rexall has been living in Shoppers Drug Mart's shadow, but the chain’s new ownership could help revitalize its position in the Canadian market. Celebrating someth…
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Table for one 🍴 — Restaurants react to solo dining, China goes after Canadian canola
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Eating by yourself at a restaurant used to be a shameful experience that let all the other diners know you were a friendless social pariah. Nowadays, it’s a totally normal thing to do. In the latest round of Chinese-Canadian trade warfare, China is hitting Canada where it really hurts: its 20 million acres of canola fields. Celebrating something? L…
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Power hungry 💻 — Alberta wants to host Big Tech’s data centers .More than half of Fortune 500 companies say AI poses a risk to their business
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With data centers expected to soon use as much power as all of Japan, Alberta is pitching itself as the perfect home for the energy-intensive setups. Like a nervous teenager before a first date, big companies are more scared than excited about the impact of AI on their business. Celebrating something? Let us know here: https://thepeak.typeform.com/…
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Baguette bags 🥖— Scotiabank moves into the U.S., A retail play by fast food brands.
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Scotiabank should grab some sunscreen and an RV, as it’s the latest of Canada’s big banks to act like a snowbird. Filipino fast food chain Jollibee has launched a new merch line complete with everything from mascot T-shirts to dog accessories. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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Off the rails 🚞 — Railway workers’ strike could be a runaway train. Bidding war for healthcare workers heats up.
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When it comes to averting a strike, Canada’s two largest railway operators are running out of steam. The worker shortage in Canada’s healthcare system has gotten so dire that rural towns are now shelling out NHL draft-level signing bonuses to try and bring in doctors. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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Missing bars 🍫 — Disappearing Melona bars, BYD eyes Canadian market
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Melona bars successfully went from cult fave to grocery freezer mainstay. But why have the cool and creamy Korean desserts been so hard to find in stores over the past month? As the feds weigh slapping steep tariffs on EVs made in China, BYD has decided to set its sights on the Canadian market anyway. Celebrating something? Let us know here: https:…
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Treaty settlements 💵 — Ottawa could owe $126B, New movies make millions. “Deadpool & Wolverine” reverses the movie summer slump
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A landmark Supreme Court ruling could set a new bar for the costs of economic reconciliation in Canada. Less than a year after releasing The Marvels, the worst-performing film in Marvel’s history, the superhero studio has landed the best opening box office weekend of 2024. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNd…
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Tech tumbles 📉 — Technology stocks take a tumble. Bank of Canada cuts rates again.
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In the 2003 hit movie Freaky Friday, a mother and daughter played by Jamie Lee Curtis and Lindsay Lohan wake up one morning and find their lives have been switched. In March 2022, Bank of Canada Governor Tiff Macklem said aggressive rate hikes were needed to quickly tamp down inflation, but that they’d only be temporary. Celebrating something? Let …
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A record setting raise 💸 — Investors dust off their chequebooks. Greenwashing needs a clearer definition.
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Here’s something to celebrate: After a year of penny-pinching tied to high interest rates and economic uncertainty, money is flowing into Canadian technology companies again. Not sure what “greenwashing” is? Canadian companies are right there with you. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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Big ZZZs 💤 — A deal to buy Sleep Country, Airlines aren’t making money.
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Sleep Country is putting its run as a public company to bed. The Farnborough International Airshow, one of the world’s largest aviation trade shows, kicked off yesterday amid some industry turbulence. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TOAv The Peak / Curiouscast
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Potayto, potahto 🗑️ — Ford chooses pick-ups over EVs.
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Like a legacy rock band trying to cater to their audience, Ford is sticking to the hits at the expense of the new stuff. Alberta may be known mostly for its mountains, big steaks, and rodeos, but these days, it’s found itself a new claim to fame: potatoes. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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Waste-less 🗑️ — Home construction slows, Grocery giants tackle food waste.
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Nearly every government in Canada — at all levels and all political stripes — say they want more houses built. New data from the Canada Mortgage and Housing Corporation (CMHC) shows the opposite is happening. More grocery stores in your neighbourhood could soon be offering you oddly shaped tomatoes and soon-to-be-expired cartons of yogurt for cheap…
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Weekend getaway 🚢 — Speeding up digital payments, New cruise ship focuses on weekend energy.
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Canada is the only G20 country without an updated digital payments system. Interac’s new CEO wants to change that ASAP. The world’s second-largest cruise ship will make its maiden voyage this week, but it won’t be a long one. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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Target practice 🎯 — Canada promises to hit NATO defence target, AI goals are fuelling layoffs.
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After being the NATO punching bag this week in D.C., Canada has finally given its allies what they wanted… sort of. AI really is taking away jobs, just not in the way you might think. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TOAv The Peak / Curiouscast
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Where’s my charge 🚗 — New chargers coming. Etsy pivots away from rivals in e-commerce race.
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A plan for a continental electric vehicle charging network is bringing together big names like it’s a Team USA basketball roster. The go-to site to buy quirky Christmas gifts for your friends and family is leaning back into its homemade, one-of-one vibe. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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On the nose 👃 — Walmart introduces sensory-friendly hours.
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Will future generations know the unrivalled thrill of getting a crisp $50 bill from your grandma on your birthday? We’re not so sure. Walmart has made itself more attractive to shoppers who hate bright fluorescents and buzzing PA systems. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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No wheels 🚗 — Uber wants you to give up your ride. Canadian space tech developer lands $1 billion funding.
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NASA’s next moon mission will be getting a (literal) hand from a Canadian company. Kind of like when John Lennon asked us to imagine life without possessions, Uber is asking Canadians to imagine life without a car. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TOAv The Peak / Curiouscast
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Bus business 🚌 — Risky bus-iness. Canada must step up to realize its green hydrogen dreams.
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The wheels on the bus go round and round… as long as the bus operator can stay in business. Canada wants to be a top-three global green hydrogen producer by mid-century, but like your buddy training to run a marathon this year, a lot of work still needs to be done. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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Temporary residents 🇨🇦 — Has Canada reached peak immigration?
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Canadian employers are planning to hand out fewer promotions this year than in 2023, leaving less opportunity for a new crop of entry-level employees to get their foot in the door. Canada’s surge in temporary residents might be, well, temporary. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO…
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