The Peak Daily

The World Bank ranks the Port of Vancouver the 368th most efficient port in the world, meaning it’s one of the least efficient. The Port Authority boss warns that issues will remain unless a proposed extension is approved. EU leaders are set to endorse a proposed ban on Russian oil, which makes up 29% of the bloc’s oil imports. The proposal will ban oil transported by tankers, but continue to permit delivery via pipeline. Frontier, a 592,000 pound machine has been named the world’s fastest supercomputer. But experts say two supercomputers in China, who doesn’t participate in the rankings, might be even faster. The Peak Daily is produced by 306 Media Productions. Hosted by Alex Blumenstein and Jay Rosenthal.

Natural Resources Minister Jonathan Wilkinson said Canada could start supplying Europe with liquefied natural gas (LNG) by 2025 ahead signalling a new openness to accelerating LNG projects on the East Coast. The federal government issued a policy that aims to make internet access more accessible and affordable by forcing large telecoms to provide smaller competitors with increased access to their high-speed networks. The Office of the Superintendent of Financial Institutions (OSFI), Canada’s top financial regulator, has issued a new guideline to ensure financial institutions (like major banks and insurers) can survive potential future climate disasters. The Peak Daily is produced by 306 Media Productions. Hosted by Alex Blumenstein and Jay Rosenthal.

The SEC is proposing new regulations of Environmental, Social and Corporate Governance funds amid accusations of greenwashing. World Bank President David Malpass said it's hard to see how a global recession will be avoided, as the impacts of the war in Ukraine continue to take their toll on the world economy. With close to US$3 billion of art sold globally in May alone, the art market is sparkling right now as buyers drop serious coin on pieces by legends and up-and-comers, alike. The Peak Daily is produced by 306 Media Productions. Hosted by Alex Blumenstein and Jay Rosenthal.

Pfizer announced plans to sell brand-name drugs at not-for-profit prices in low-income countries, starting in Rwanda, Ghana, Malawi, Senegal, and Uganda. Big pharma sees Africa as the last remaining high growth market. Quebec’s Bombardier has launched a new private jet capitalizing on soaring demands for chartered air travel amongst the world’s wealthiest travellers. The US$78 million jet also comes with all the luxurious trappings you’d expect, including four separate living areas, a meeting room, and a cinema. Sophisticated hedge fund investors are taking advantage of market chaos, by using advanced computing to predict opportunities. The Peak Daily is produced by 306 Media Productions. Hosted by Alex Blumenstein and Jay Rosenthal.

Snap’s shares took a 30% tumble after the social media company’s CEO announced it would miss its revenue and profit targets. The revenue slowdown is attributed to economic pressures and ad tech changes. Airbnb is leaving China, a signal that big western tech has can’t survive in the world’s second-largest economy. The home-sharing company will remove its 150,000 listings, as local competitors take its place. Canada’s anti-money laundering watchdog is warning law enforcement and the government about the associated risks of decentralized finance, which it claims could pose “money-laundering and terrorist-activity financing risks." The Peak Daily is produced by 306 Media Productions. Hosted by Alex Blumenstein and Jay Rosenthal.

Almost a million people in Ontario and Quebec were left without power this weekend as a severe thunderstorm rocked the area. A report from ****The North American Electric Reliability Corporation predicts widespread blackouts this summer. Joe Biden is launching a new trade agreement with 12 Indo-Pacific countries (and no Canada), in a bid to economically isolate China. The countries participating in the Indo-Pacific Economic Framework (IPEF) make up 40% of the world’s GDP. Apple is pushing its contract manufacturers to start making its product outside of China. The country’s covid-zero policies have cost Apple, who make 90% of their products in China, $8 billion in Q1. The Peak Daily is produced by 306 Media Productions. Hosted by Alex Blumenstein and Jay Rosenthal.

The Canada Pension Plan Investment Board (CPPIB) posted a 6.8% return on investments this past fiscal year, but lost 2.9% last quarter alone amidst global pressure on public equities and stock market selloffs, particularly in China. As the EU works toward banning Russian energy imports (increasingly unclear what this means anymore in response to the war in Ukraine, China is getting ready to hit the oil equivalent of a warehouse sale. Globalive announced it has struck a 20-year agreement to access the Telus’ wireless network, which aims to assure that Freedom Mobile, if they acquire it, will be able to offer a quality, cross-country network that could compete with Rogers, Telus and Bell. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

US Soccer scored a big goal for wage equity, reaching a historic equal pay agreement with its men’s and women’s national teams With ~US$1.6 trillion of cryptocurrency’s market cap wiped out since its November highs, investors, celebrity endorsers, and regulators alike are reckoning with the industry’s increasingly uncertain future Business bankruptcies in Canada are moving closer to pre-pandemic levels in the first quarter of 2022, jumping ~33% compared with last year The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Horror stories about long wait times at Canadian airports have flooded the news in recent weeks, and now the government is asking airlines to shrink their schedules and cancel planned flights to reduce the stress on airports. Google claims Canada’s Online News Act would break the internet, but NOT in a good way. Economists are now predicting that Canadian home prices will drop by double-digit percentages this year as higher borrowing costs (sparked by interest rate hikes) take their toll on the country’s out of control real estate market The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Across the Pacific, New Zealand dairy producers launched a formal complaint alleging dairy tariffs violated the Trans-Pacific Partnership (TPP). The Alberta government is looking at over 40 new applications for carbon capture, utilization, and storage (CCUS) projects to use underground caverns across the province to store captured carbon. From bedrooms to fitness centres, hotels are about to get a whole new level of personal. The world’s largest hotel chain is launching a media network to help advertisers target consumers using data drawn from ~182 million annual guests The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.