The Peak Daily

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.

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.

~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 *The Washington Post—*at least if the billionaire has his way. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

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% depending on the product The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

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 under India’s internet laws. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

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 since 1986) and AI technology that will help referees make crucial offside calls. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

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 because the crypto winter is getting even chillier, as another major lender in the space has fallen victim to the modern incarnation of a good ol’ fashioned bank run. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

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, according to leaked audio from a company staff meeting. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

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 join NATO they have been waiting for after Turkey dropped its opposition to their membership, setting the stage for the most significant enlargement of the alliance in years. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

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 feels about losing out on $23.4 billion in uncollected taxes—that’s how much the Canada Revenue Agency says people and businesses are underpaying to the feds every year.