BlackBerry’s deal to sell 37,175 of its patents fell apart after the buyer landed US$90M short of the $600M agreed-upon payment, per The Globe and Mail. Canadian housing prices will fall between 20-25% from recent all-time highs by the end of 2023’s first quarter, according to a new report from TD Bank. The world’s richest man is citing a recent whistleblower report filed by Twitter’s former head of security Peiter Zatko as another reason why he should be let out of his US$44 billion deal to buy...
Aug 31, 2022•11 min
As California experiences its worst drought in 1200 years (no, somehow that’s not a typo), two of North America's largest fruit sellers are looking to Canada to grow their berries. The European Commission confirmed that it’s working on an ‘emergency intervention’ to the continent’s electricity market as prices surge Forget heavy courseloads and unrequited crushes, Canadian post-secondary students have a bigger problem as they head back to school this year: Finding somewhere to live. The Peak Dai...
Aug 30, 2022•11 min
As streamers continue to navigate a difficult year, Amazon has come up with one simple trick to turn things around: Produce and release the most expensive show of all time. Moderna is suing Pfizer and BioNTech in the US and Germany (where BioNTech is based), claiming that the companies’ COVID shot infringes on patents for key elements of its messenger RNA technology that made its ‘Spikevax’ shot possible. As Canadian regulators start to crack down on crypto companies, the world’s largest cryptoc...
Aug 29, 2022•9 min
As the consumer price index rises to 7.6% (compared with a year ago) shoppers are flocking to discount retailers… and investors are following closely behind. Get ready for a future where your commute is more crowded and the morning Tim’s line is even longer because Canada is going to have a lot more people. Golfers Tiger Woods and Rory McIlroy have formed TMRW Sports, a new venture partnering with the PGA Tour to drag an old-fashioned game kicking and screaming into the future. The Peak Daily is...
Aug 26, 2022•9 min
It’s been a rough week for markets as we wait for a vibe check on the economy coming out of the Federal Reserve’s annual policy symposium, kicking off in Jackson Hole today. There’s a new trend gaining traction online amongst hoards of disaffected workers: Quiet quitting. And no, it doesn’t mean silently walking out of the office one day, never to return Poor harvests in Brazil may start hitting your wallet where it hurts most: Your daily cup of joe. The Peak Daily is produced by 306 Media Produ...
Aug 25, 2022•10 min
European economists and business leaders are growing increasingly worried that economic slowdowns in the region’s leading economies could send the eurozone into a difficult recession. After garnering flack earlier this year for trying too hard to be TikTok, Instagram has now set its sights on wanting to be exactly like BeReal, another popular app amongst the Gen Zs. Yesterday, Canada inked a deal to supply green hydrogen fuel to Germany. Sounds great for everyone, right? But what exactly is hydr...
Aug 24, 2022•11 min
Germany’s chancellor Olaf Scholz has touched down in Canada and is ready to make an energy deal that absolutely does not include Russia. Because arts graduates didn’t have it hard enough already, a proposed merger between publishers may spell trouble for up-and-coming Canadian authors. The UK will deem vehicle manufacturers responsible for the vehicle’s actions while driving, meaning the human co-driver will be free from liability in a crash. The Peak Daily is produced by 306 Media Productions. ...
Aug 23, 2022•9 min
Just five months after activist investor Ryan Cohen took on a ~10% position in Bed Bath & Beyond (BBBY), his sudden exit has sent shares spiralling by ~40%. Canada’s top financial regulator has introduced its first-ever framework to **limit the exposure of federally regulated financial institutions, like banks and insurers, to crypto assets (nice!). Starting next year, Lloyd’s of London insurers (which includes Lloyd’s Canada) will no longer offer coverage for state-backed cyberattacks in th...
Aug 22, 2022•10 min
The demand for natural gas has soared this year, but producers in Alberta have been unable to capitalize on higher prices (and are seeing billions lost in revenue). Hundreds of thousands of homeowners across 100 cities are banding together and refusing to repay loans on unfinished apartments After a high ride throughout the pandemic, venture capital (VC) funding for Canadian companies has finally come down to Earth. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and J...
Aug 19, 2022•10 min
Almost a decade after Zellers left suburban malls across the country sitting empty, Hudson’s Bay Company (HBC) is looking to launch its Canadian discount chain back into relevance. Airbnb is introducing a new weapon in its war against fun and will soon roll out “anti-party technology” on its platform in Canada and the US. Canada’s largest unions are now clapping back at the Bank of Canada, advocating for workers’ bargaining power at a time (they say) they need to make gains. The Peak Daily is pr...
Aug 18, 2022•10 min
Inflation may have peaked, but still remains “far too high” according to a new op-ed penned by the Bank of Canada (BoC) Governor Tiff Macklem. Pandora announced the launch of its first collection featuring lab-grown diamonds later this month throughout Canada and the US. Canadian officials are pointing to a document recently posted on the White House website that explicitly calls for Canada to be a domestic source for critical minerals as a sign that Canada could see some of the money from Presi...
Aug 17, 2022•11 min
Five US lawmakers decided to visit Taiwan just 12 days after the same trip by US House Speaker Nancy Pelosi prompted China to launch days of military drills around the self-governing island, which Beijing considers its territory WeWork’s Adam Neumann is back with a new company and he just raised $350 million in fundraising from venture capital fund Andressen Horowitz. Some of China’s biggest tech companies including ByteDance and Alibaba disclosed to the government the inner workings of their al...
Aug 16, 2022•11 min
As Canadian employers face the lowest unemployment rate in decades, they’re moving to fill roles with temporary foreign workers (or TFW, for short) As the post-pandemic wedding boom picks up in Canada, so are bachelor and bachelorette festivities. The only problem? They’ve become more expensive than ever (thanks, inflation). The global food crisis wreaking havoc on the world’s poorest nations is also taking its toll on Canada’s most remote northern communities. The Peak Daily is produced by 306 ...
Aug 15, 2022•9 min
The Canada Pension Plan Investment Board (CPPIB) saw its funds drop by 4.2% last quarter or roughly $16 billion—which sounds a lot worse than it actually is. According to the International Energy Agency (IEA), Western sanctions have had a limited impact on Russia’s oil exports, which is also its biggest money maker. The average price of a Canadian home is projected to fall by ~25% by the end of 2023 from all-time highs this past February, per a new report from Desjardins. The Peak Daily is produ...
Aug 12, 2022•10 min
As a wave of economic uncertainty hits Big Tech, Microsoft is reining in the fun money. Extreme heat and low rainfall are drying up Europe’s rivers which could lead to potentially catastrophic impacts on the US$80 billion river trade contributes to the EU’s economy. And for our last story, La vita isn’t very dolce right now for Domino’s after the pizza chain failed to take off in the saucy dish’s birthplace. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosen...
Aug 11, 2022•10 min
Netflix is struggling to build its gaming business as less than 1% of their users interact with them on a daily basis Just when you thought things couldn’t get any worse for Canada’s airlines and airports, the government has launched an investigation into the flight cancellations making headlines. Android users know that there is no greater indignity than being the only green bubble in a friend group of iPhone users. Google is now stepping up to fight this injustice. The Peak Daily is produced b...
Aug 10, 2022•11 min
Japanese technology investor SoftBank reported a record loss of US$23 billion last quarter, after a spending spree that CEO Masayoshi Son described as delirious. Baidu (China’s Google) is the country’s first company licensed to commercially offer fully driverless robotaxis without a human supervisor present through Apollo Go, its driverless ride-hailing platform. Canadian hospital shutdowns that began in small jurisdictions have now spread to the biggest cities as the healthcare system deals wit...
Aug 09, 2022•9 min
Canada will ban the import of restricted handguns this month, part of a broader effort to curb gun violence after the country’s deadliest mass shooting in 2019, per The Washington Post. A comprehensive free trade agreement with India would be a mega-win for the Canadian economy, according to a new study commissioned by business groups backing a deal. Amazon is buying iRobot, the maker of the Roomba vacuum and other home robots, for US$1.7 billion. The Peak Daily is produced by 306 Media Producti...
Aug 08, 2022•9 min
Over 1000 miners in Nunavut could be out of a job come September after receiving termination notices warning that their mine might be forced to shut down as it nears its yearly extraction limit. Italy is close to clinching a ~$5 billion deal with US-based Intel to build an advanced semiconductor (chip) packaging and assembly plant in the country Good news for people whose hands get super sweaty when they grip a steering wheel for too long: GM’s advanced driver-assist system (ADAS) will soon be a...
Aug 05, 2022•8 min
After an earnings report more disappointing than a bad date who didn’t even offer to split the bill, Tinder is making some changes and curtailing its metaverse ambitions. If there’s anything we can learn from Nancy Pelosi’s jaunt to Taiwan–specifically, the criticism surrounding it–it’s that the world is pretty freaked out about China right now. If you’re wondering how bad a movie has to be for a studio to not even bother releasing it ask a member of the test audience for “Batgirl” because you’r...
Aug 04, 2022•10 min
For the first time in the company’s history, Uber reported positive cash flow in a quarter on the back of a record US$8.1 billion in revenue. As last year’s lockdowns drove online spending to new heights, Amazon’s carbon emissions grew 18% from the year before, according to the company’s latest sustainability report. Canadian National Railway is predicting a big rebound for Canadian grain shipments after an off-year and expects to move up to 27 million tonnes of grain for the current crop year—a...
Aug 03, 2022•10 min
Tech companies may be struggling, but it’s a great time to be in a more old-school business: oil and gas companies are raking in record profits and earning windfalls for shareholders. US antitrust regulators are suing to block Meta’s purchase of virtual reality startup Within, a move that could seriously hamper the company’s metaverse ambitions and have ripple effects across Big Tech. The debate over we’re in a recession is heating up! The Peak Daily is produced by 306 Media Productions. Hosted ...
Aug 02, 2022•10 min
DeepMind is releasing an extended database with information for nearly every protein known to science, only eighteen months after introducing the AI behind it. Global natural gas prices are on the rise this week after Russia cut gas flows to Europe in half. The federal government wants to cut fertilizer emissions by 30% by 2030 per its latest climate plan, but farming critics believe that isn’t feasible without producing a lot less food. The Peak Daily is produced by 306 Media Productions. Hoste...
Aug 01, 2022•11 min
Microsoft is leading a crusade against Amazon’s dominance in the government cloud-computing space and is asking competitors to raise their voices, too. It’s earnings season and we’re breaking down the numbers from some of the biggest companies. FTX, the world’s second largest crypto exchange, is eying a purchase of South Korean crypto exchange Bithum as founder and CEO Sam Bankman-Fried looks to continue his shopping spree. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Cha...
Jul 28, 2022•12 min
Shopify’s no-good, horrible, very-bad year only got worse after the company announced it was laying off 10% of its workforce, sending shares cratering by ~15%. Unilever increased prices across its 400 brands, from Dove soap to Hellmann’s mayonnaise, by 11%, as executives try to battle an “unprecedented cost landscape” without losing customers to cheaper alternatives. The Kardashians aren’t happy about Meta’s moves to make Facebook and Instagram more like TikTok, but not even their clout is power...
Jul 27, 2022•11 min
Yesterday, Rogers execs went to the House of Commons, received a stern talking to, explained what went wrong, and laid out some measures to prevent another major outage. Grocery chains and suppliers have said the government may need to intervene to help create a national code of conduct for the industry, per the Financial Post. The US Senate has voted to advance a US$280 billion package of subsidies and research funding to raise US technological competitiveness with China. The Peak Daily is prod...
Jul 26, 2022•11 min
DALL-E 2, the image generator that took the internet by storm, has become more widely available. Snap shares fell 35% yesterday after the company reported lacklustre growth and revenue results, despite an increase in daily active users of 18% to 347 million. Ukraine and Russia signed an agreement to reopen three key Ukrainian ports for the shipment of grain, in an attempt to avoid plunging the globe into a catastrophic food crisis. The Peak Daily is produced by 306 Media Productions. Hosted by B...
Jul 25, 2022•9 min
Ontario wants Toronto and Ottawa’s mayors to become the country’s first ‘strong mayors’—and no, that doesn’t mean they need to hit the gym. Facebook-parent company Meta has revamped the Facebook app to make it feel a lot more like you’re browsing TikTok Within hours of each other, Canada and the US launched trade complaints against Mexican energy policies unfairly excluding foreign firms under the Canada-US-Mexico Trade Agreement (CUSMA). The Peak Daily is produced by 306 Media Productions. Host...
Jul 22, 2022•10 min
Canada’s consumer price index (CPI) surged to 8.1% in June, the biggest annual increase in almost 40 years, mostly driven by high gas prices (up 54.6% since last year). Russia said that the Nord Stream 1 pipeline, Europe’s main gas delivery system, would resume operations today after a scheduled maintenance shutdown, likely at reduced capacity. The federal government has announced a $2 billion expansion to Canada’s Oceans Protection Plan with one stated initiative to “improve the efficiency and ...
Jul 21, 2022•11 min
Temperatures in Britain hit 40 degrees for the first time in recorded history and wildfires continued to sweep through Southern Europe, showing the huge economic toll climate change can take. On the heels of its first drop in global subscribers in more than a decade, Netflix is expected to lose over a million captive eyeballs—the largest quarterly loss in its history. Canada took the next step in filling in a major blank in its climate plan: How the oil and gas industry is supposed to reduce emi...
Jul 20, 2022•11 min
