The Peak Daily

Our high-level bank earnings summary: “Not great, but things could be worse.”How do you mine critical minerals in Canada? Very slowly, according to one of the largest miners in Ontario’s Ring of Fire.The days of no-questioned-asked returns are numbered, as retailers crack down on one of their biggest profit suckers in a worsening economic climate.Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO

Sometimes being number one isn’t anything to brag about—take Canada’s household debt situation, for example.There are a lot of podcasts. About 4 million, to be exact. From old roommates to distant relatives to yours truly, starting a podcast has become a right of passage into adulthood.We regret to inform you that city budgets across the country have gotten so tight (relatable) that they’re starting to take away the fun stuff.Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO

Becoming an engineer in Ontario just got easier (you know, aside from all the math).By the end of this year, plastic straws are set to officially become a relic of the past.After taking a look into allegations of China’s interference in Canadian politics, former governor general (and current “special rapporteur”) David Johnston has decided the whole thing represents an “increasing threat to our democratic system” but has not called for a public inquiry into the matter.Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO

A group representing Canadian truckers is sounding the alarm about a scam it thinks has reached a “crisis level.” And unlike a novelty mudflap, it’s no laughing matter.Everyone wants to be a big EV player… as long as someone else pays for it.A startup called Telly has dominated the news headlines after offering a smart TV with a market value of $1,000 for free. The catch? To subsidize your free TV, the screen comes with a small display attached to the bottom that will run advertisements as you watch.Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO

If anything can bring two sides of the aisle together, it’s regulating artificial intelligence.Some surprises are good, like a b-day party or finding a $20 bill in your coat. Others are less good, like a cancelled reservation or a blister. Recent inflation data is one of those surprises.If you thought long weekend travel couldn’t possibly get any more chaotic, think again.Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO

Vice, which started out as a tiny punk zine in Montréal before becoming the bad boy idol of new media brands, filed for bankruptcy protection. A group of its creditors put in a US$225 million bid to buy the company, an amount that would be covered by existing loans.Western Canada has seen more than 600 wildfires so far this year, but officials say the season is just getting started.The Motion Picture Association (MPA)—a trade group made up of major Hollywood studios, including Disney and Netflix—published a report claiming that Canada’s system for defining homegrown content is unusually narrow and out of step with the rest of the world.Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO

A new lawsuit against TikTok owner ByteDance could discredit the company’s primary defence against efforts by some Western lawmakers to ban the app.The Bank of Canada is determined to crush inflation, but that doesn’t mean prices are going back to pre-pandemic levels. For proof, look no further than the used car market.The last year has been tough if you’re a middle-of-the-pack consumer or retailer.Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO

Only Softbank Group would lose US$7.2 billion and give itself a little pat on the back.Space startup Vast partnered with Elon Musk’s SpaceX to launch a school bus-sized space station into orbit by 2025, as more private companies race to capture low-orbit real estate.Canada’s search for health care workers continues!Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO

After Google’s developer’s conference yesterday, online search might never be the same.Yesterday, Canada unveiled a new passport design that’s sure to draw some double-takes during your next international trip.A new report co-authored by former national security advisor Vincent Rigby found that not only did Canada’s allies leave it out of the AUKUS security pact, they never sent an invite.Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO

Developing countries are teaming up to take on the global monetary order as we know it.A pricing dispute in Canada’s crustacean heartland has crabby fishers calling out seafood processors for their shellfishness.It’s once again time to check in on the US debt ceiling debacle. Spoiler alert: Joe Biden and GOP lawmakers are no closer to reaching a resolution on raising the debt ceiling after the president met with Congressional leaders yesterday.Celebrating something? Let us know here: https://thepeak.typeform.com/to/MNdYA3TO