Small business groups are calling on the federal government to change the tax system in order to crack down on multinational companies that are not paying their fair Canadian tax share, in response to some of Amazon’s tactics for tax avoidance coming to light. As Russia continues to squeeze Europe’s energy supplies (as revenge for siding with Ukraine in the ongoing war), the European Commission is making a plan to cut consumption. After posting its highest growth numbers for a half since 2010, U...
Jul 19, 2022•11 min
Travel insurers are seeing jumbo-jet-sized losses thanks to an onslaught of claims from Canadian travellers experiencing flight delays and cancellations. The Bank of Canada (BoC) kind of underestimated just how bad inflation was getting—and is now playing catch-up as it serves up a series of jumbo rate hikes. Long hospital wait times may be the bain of Canada’s health care system, but they’re not unconstitutional according to yesterday’s BC Court of Appeal ruling. The Peak Daily is produced by 3...
Jul 18, 2022•11 min
It’s EVWeek in Canada and to celebrate the government announced funding announcements for ~950 new electric vehicle (EV) charging stations. Amazon wants to make a deal with EU regulators: The company will limit its use of marketplace seller data and make changes to ‘Buy Box’ rankings, in exchange for a truce (and avoiding a fine worth up to 10% of its global revenue). Anyone else finally feeling ready for live events again… only to realize your bank account is not*?* We have the surging price of...
Jul 15, 2022•12 min
If cheese and milk regularly appear on your grocery list, get ready for higher even bigger bills at the checkout this fall. as two Canadian food suppliers notified grocery stores their dairy products are going to cost more. Statistics Canada just dropped the latest census data so we thought we’d dig a bit deeper into some of the income data and why it matters to you—and trust me, we’ll make it fun! TikTok, the app you were probably scrolling through before you started listening to this, announce...
Jul 14, 2022•12 min
As we navigate the Post Rogers Blackout Era (PRBE), the federal government has stepped up to make sure future service shutdowns aren’t so apocalyptic. Big private equity firms are drilling for value and finding Canadian dental clinics. At 10:00 AM (ET) the Bank of Canada will kick things off with its decision on the overnight interest rate target. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.
Jul 13, 2022•10 min
There’s a new content creator on the TikTok block: Energy companies. Ever wonder where all the nasty stuff that accumulates on cruise ships ends up? Turns out a lot of goes right into the beautiful waters just off the BC coast, according to a new report examining the cruise industry’s environmental impact. The latest victim of crashing tech valuations: Buy now, pay later, or BNPL firms. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.
Jul 12, 2022•11 min
~12 million Canadians were affected by Friday’s Rogers network outage and they piled into their neighbourhood Starbucks to wrap up work for the week. Ireland’s Data Protection Commission is moving forward with a decade-old data transfers complaint against Meta this week, by forwarding a decision to other agencies for review that would crack down on the company’s ability to transfer its data from the EU to the US. Musk’s bid to buy Twitter is now in “serious jeopardy,” according to a report by *T...
Jul 11, 2022•10 min
Canada’s construction sector is facing a serious labour crunch that’s causing companies to turn down or cancel projects and threatening the long-term prospects of the entire industry. In a sign that Russia is hunkering down for a long fight in Ukraine, the government is shifting the economy to a wartime footing. Amazon is betting big on Amazon Live, a livestream shopping feature where influencers can sell products directly to the viewing audience and pocket commissions ranging from 2% to 20% dep...
Jul 08, 2022•11 min
Home prices around the globe (including in Australia, New Zealand, the US and UK) are on the verge of decline, according to Capital Economics, a research group. In the case of international trade, longtime pals Canada and New Zealand are bickering over new Canadian dairy policies that are hampering New Zealand’s export ambitions. Twitter is taking on the world’s largest democracy and suing the Indian government after it was forced to remove content and block dozens of accounts from its platform ...
Jul 07, 2022•11 min
Russia is set to switch off the taps to one of Europe’s largest natural gas pipelines—and Germany is worried! As students get back to campuses and workers to offices, already overheated rental markets across the counry are starting to feel the heat, with Rentals.ca reporting average monthly rents reaching $1,888 in May (a 10.5% increase from last year). At least two new things are coming to the 2022 FIFA World Cup in November: Team Canada (we’re counting them as new since they haven’t been there...
Jul 06, 2022•12 min
The Bank of Canada (BoC) released its newest quarterly surveys on consumer expectations and business outlooks yesterday and one thing was clear: both groups are still hyper-focused on inflation, but not yet panicking about a potential recession. Some good news in the long fight against supply chain disruptions: After two years of high demand, sales of some semiconductor chips are starting to wane—a development that could cut down on global wait times for the precious product Zip up those parkas ...
Jul 05, 2022•12 min
TikTok is once again fighting for its survival in Western markets as it faces growing criticism over its relationship with China’s government and how it handles user data. We hope the scourge of inflation this year didn’t spoil the long weekend for you, but you might have noticed paying more for pretty much everything you need for a successful ‘BBQ. Meta, the parent company of Facebook and Instagram, plans to cut hiring and demand more from existing employees as it preps for an economic downturn...
Jul 04, 2022•11 min
Scotiabank, Tim Hortons, Telus, and Canadian Tire have suspended funding for Hockey Canada following the organization’s mishandling of sexual assault allegations against its players. If you’re a fan of haggling with salespeople at car dealerships, we have bad news: Ford plans to shake up the tried-and-tested dealer model of car sales, using the sale of electric vehicles (EVs) as a testing ground for big changes that could upend the dealer model. Finland and Sweden finally got the big invite to j...
Jun 30, 2022•9 min
The federal government is “doubling down” on its supercluster innovation program, slapping on a fresh coat of paint and publicly reasserting its importance in driving Canadian innovation. Asset management behemoth Blackstone made it clear it has no interest in investing in single-family homes as part of its expansion into Canadian real estate, but the same can’t be said for other big investors. If you’re upset your buddy that still owes you $100 for dinner, imagine how the Government of Canada f...
Jun 29, 2022•11 min
On Sunday, G7 nations said they were standing with Ukraine for “as long as it takes” in their fight against Russia. On Monday, they translated those words into action with a plan to cap the price of Russian oil, depriving Vladimir Putin of a key revenue source. We’ve all heard calls to save the bees and now we might be hearing calls to save the berries too as declining bee populations mean Canadian fruit crops aren’t getting the pollination they need. The Amazon smart speaker will eventually be ...
Jun 28, 2022•11 min
The rumour about Netflix’s next big move is true and, no, it’s not the one you heard about them bringing back your fave cancelled show (#GLOWSeason4Now): Ads are officially coming to the platform. Hybrid work may seem like a nice compromise between employers who want workers in seats and employees who’d rather not spend hours commuting every week but CEOs are starting to disagree. Mover over GameStop, there’s a new meme stock on the block: Revlon, the once-iconic cosmetics brand, has seen its sh...
Jun 27, 2022•10 min
Amazon has introduced its first fully-autonomous mobile robot designed to safely and easily lift and move large carts around its warehouses, part of a larger effort to automate its sprawling fulfillment centres. Canadian airlines will soon need to offer customers a refund for cancelled or delayed flights, even if the reason for the disruption is beyond the airline's control thanks to changes to Canada’s Air Passenger Protection Regulations. Grab a hammer and nails, we’ve got work to do: accordin...
Jun 24, 2022•10 min
Loblaws has partnered with DoorDash to launch a new rapid grocery delivery service that promises to get customers their fave foodstuffs in 30 minutes or less, available in 12 Canadian cities by the end of August. Shopify is rolling out over 100 new products and features as the company looks to get a leg-up on its biggest threat, a scrappy young upstart called Amazon. Inflation jumped to 7.7% last month, up from 6.8% in April and significantly overshooting analyst predictions. The Peak Daily is p...
Jun 23, 2022•11 min
TikTok announced that Oracle’s cloud servers will be the new home of US users’ data, but a new report from Buzzfeed detailing how state-side user data was repeatedly accessed from China. Canada’s healthcare system is teetering on the brink of crisis and governments must act swiftly to avoid a full-blown meltdown, according to a growing chorus of top doctors and medical leaders. Canadian moviegoers checking out the latest blockbuster at Cineplex locations might have another expenditure to contend...
Jun 22, 2022•11 min
Get your metal straws and tote bags ready, because the age of single-use plastic items is coming to an end in Canada as the federal government rolls out its long-anticipated plan to ban disposable plastic items like bags, cutlery, and containers. Canadian summer camps are struggling to find enough camp counsellors to meet the end-of-school-year rush. Running low on natural gas imported from Russia, European countries are turning to coal in a bid to lower energy prices and avoid shortages. The Pe...
Jun 21, 2022•10 min
JOIN US AT OUR PEAK DEBATE ON JUNE 27th IN TORONTO: https://readthepeak.com/debates/billionaires-media-democracy While we’re still reeling from Tim Hortons’ app scandal, unsure if we can ever trust a mobile fast food ordering platform again, the federal government has introduced new laws to crack down on the sort of privacy invasions and data mishandling that landed Tims in hot water. Canada’s rental housing market is at it again, and by “it” we mean getting much more expensive, and fast— since ...
Jun 20, 2022•9 min
A new government report on money laundering in BC revealed that billions of dollars of criminal funds have flowed through casinos, real estate and luxury goods every year As the government attempts to very quickly pass laws that force digital streamers to follow Canadian content rules, the Senate has made it clear they’re going to take their sweet time reviewing them. Twitter employees got their first taste of what life might be like once Elon Musk is in charge, as the platform’s prospective new...
Jun 17, 2022•11 min
Following a 0.75 percentage point interest rate rise from the US Federal Reserve yesterday (its largest since 1994), Bay street is now putting the probability of an identical hike coming out of the Bank of Canada’s July decision at 80% Streaming platform Apple TV+ reaches a ten-year, US$2.5 billion deal with Major League Soccer (MLS) to become the exclusive home of all matches. Unions are leveraging Canada’s record-low unemployment numbers and unprecedented job vacancies to negotiate higher wage...
Jun 16, 2022•9 min
We break down why gas prices across the country have hit record highs. With over four in five businesses impacted by cyberattacks staying quiet last year, the federal government has introduced a new security bill complete with a new set of reporting requirements for the telecoms, finance, energy, and transport sectors. Canada is shutting down the national COVID contact tracing app we love to hate after changes to PCR testing regulations rendered it largely useless. The Peak Daily is produced by ...
Jun 15, 2022•11 min
The TSX re-enters correction territory and S&P falls into bear market as recession fears intensify with rising inflation. Layoffs and hiring freezes in the US tech sector are creeping into Canada, with some prominent industry figures worried that tech could lose more jobs than during the 2008 financial crisis. Big oil companies are fleeing Alberta’s oil sands as the industry becomes a villain of the environmental, social and governance investing movement, per Bloomberg. The Peak Daily is pro...
Jun 14, 2022•11 min
BoC Governor Tiff Macklem now says rates may need to move above 3% to tame inflation, putting a rarely seen 0.75% hike on the table for the Bank’s next meeting in July. The United States may have finally dropped its COVID testing requirements for international travellers, but a combo of flight cancellations, airport backlogs, and labour disputes around the world are likely to make summer travel more painful than usual. In its never-ending quest to be the home of all things people use their ears ...
Jun 13, 2022•9 min
Researchers at some of Canada’s top universities will continue to partner with Huawei even after the federal government banned the telecoms giant from the country’s 5G networks. In its annual Financial System Review, the Bank of Canada warned that high levels of household debt and record-high home prices are the top vulnerabilities that could lead to big problems for the country’s financial system*.* The world is running low on semiconductor chips and the most advanced chip manufacturers say the...
Jun 10, 2022•10 min
Politicians in Canada and all over the world are jumping on the idea of seizing Russian assets to help rebuild Ukraine, despite a number of practical and legal hurdles. Soon you’ll be able to use your Scene card to save on more than just cinema popcorn, as Sobeys’ parent company Empire drops Air Miles to unlock better insights into customer data. Some of the most recognizable names from the PGA Tour will be missing from this weekend’s Canadian Open, as the Saudi-backed LIV Golf Invitational Seri...
Jun 09, 2022•11 min
The price of lumber has bucked the inflation trend by plummeting more than 50% from recent peaks, as people adjust their spending priorities for a post-pandemic lifestyle. From fish-and-chip shops to big corporations, more than 3,300 workers across 70 companies in the UK will work 80% of their hours for 100% of their pay as part of the world’s largest four-day workweek pilot Shopify shareholders have voted in favour of giving CEO Tobi Lutke a special “founder share” that entrenches his control o...
Jun 08, 2022•11 min
Municipal governments across the country, including Winnipeg, Ottawa and Charlottetown are enforcing new regulations to get a grip on the booming short-term rental market, ahead of the busiest summer travel season in years. Elon Musk threatened to walk away from buying Twitter in a letter that accuses the company of not complying with his request for data on the number of spam and fake accounts on the social media platform Day One of Apple’s World Wide Developer’s Conference kicked off yesterday...
Jun 07, 2022•10 min
