The Peak Daily

India announced a ban on wheat exports over the weekend, a move that threatens to drive up already-high food prices and worsen shortages of key crops caused by Russia’s invasion of Ukraine. It’s inflation week. We’ll get April inflation numbers on Wednesday, and analysts are forecasting a similar pace of price rises (6.7%) as the previous month. That slowdown in the growth of inflation is welcome news, but the days of stable prices are still likely a ways off. US airline regulators have rejected Boeing’s application to resume deliveries of its 787 Dreamliner planes to airlines, citing incomplete documentation—a decision that will add to billions in cost overruns for the aircraft manufacturer. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

In the midst of a week packed with inflation concerns, stock market pressures, and the breakdown of popular stablecoins, the volatility of cryptocurrency is on full display. Canadian seniors are turning to reverse mortgages as they consider new ways to fund their retirement—one private lender, Equitable Bank, saw a 262% year-over-year surge in its reverse mortgage products last quarter. This time last year it was all cherry blossoms and champagne showers for the globally-recognized Japanese investor SoftBank as the conglomerate saw its biggest net profit, ever. But what a difference a year can make! Yesterday SoftBank posted its worst quarterly loss ever of US$13.2 billion dollars—affirming that the tech stock slump is no joke. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

As more people take advantage of the opportunity to work remotely, extend vacations, or just take a vacation at all, Airbnb has unveiled changes to its platform that cater to longer stays. Alberta’s highest court has ruled that a 2019 federal environmental impact law overreaches into provincial jurisdiction and is therefore unconstitutional. For almost 100 years, Michelin Guides (by tire company Michelin) have been the pre-eminent tastemaker in global fine dining. And Starting for the first time this fall, a selection of the Toronto’s restaurants who make an inspectors' cut will receive the globally renowned award of a Michelin star...or two...or three. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Clearview, the surveillance company that rose to fame for scraping social media to build a huge facial recognition database, agreed to permanently ban most private companies from using its service under a court settlement in Illinois. The stock split club just added a new (and unexpected) member: Nintendo. The Japanese game giant announced a 10-for-1 split to make the stock more affordable for retail investors. One British spy chief is saying that maybe we were getting a bit carried away with concerns of Russian hacking after the country’s invasion in Ukraine. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

If you’re wondering what’s up with stocks lately, you probably already know the answer is that nothing’s up. We break down the latest markets news. Quebec’s stringent new French-language laws are expected to pass before summer, which would leave tens of thousands of (previously exempt) businesses forced to adopt higher standards around French signage, contracts, and employee language proficiency. The Swedish meatball and furniture giant IKEA is investing over US$3 billion to bring stores to city centres around the world and retool big-box locations as distribution hubs for online orders. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Despite a Canadian horse being one of the favourites, Canadians couldn’t bet on last Saturday’s Kentucky Derby through single game sports betting apps because the government excluded it from new regulations. One in five container ships globally are currently stuck at major ports due to service and route disruptions stemming from lockdowns in Shanghai and Russia’s invasion of Ukraine. One of Canada’s biggest maple syrup companies has been taken over by Bain Capital-owned Valeo Foods Group, with the aim of tapping into the global market. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Calgary’s Neo Financial has raised C$185 million led by billionaire Peter Thiel’s Valar Ventures—launching the challenger bank into Canadian unicorn status, or a valuation of over $1 billion. Shopify missed profit estimates and announced the largest acquisition in its history, a US$2.1 billion deal for startup Deliverr to expand its warehousing and delivery services for merchants that would rival Amazon. Apple, Google, and Microsoft want to kill off passwords for good—within the coming year, all three companies will build support for a cross-platform passwordless sign-in where your phone is the password. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Markets are trying to connect the dots on the future of ride-sharing, as Uber doubles its revenue from last quarter but Lyft’s weak earnings outlook has dragged both companies’ stock prices down. Canada has become one of the first countries in the world to hold crowdfunding platforms to the same reporting standards as banks for large or suspicious transactions. Thanks to boosts from recent acquisitions, The New York Times added 387,000 net digital subscribers in Q1, bringing its total subscribers to 9.1 million The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

The United Church of Canada has plans to create new rental apartments for 34,000 people over the next 15 years by revitalizing its properties to find new uses for old churches across the country Restaurant Brands International (RBI) reported a net income of US$183 billion in Q1, much of it driven by Tim Hortons which boosted its year-over-year sales by nearly 13% and saw the largest earnings of any RBI restaurant. Canada’s Pension Plan (CPPIB) has built stakes in several late-stage Indian startups, including a news app with over 350 million daily users Celebrating something? Let us know for a shoutout here: https://thepeak.typeform.com/to/GuHjLDoa The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Turns out, the majority of mental health and prayer apps are pretty creepy—tracking, sharing, and capitalizing on users’ most intimate personal thoughts and feelings. Canadian conglomerate Thompson Reuters is launching an independent assessment to align itself with the UN’s Guiding Principles on Business and Human Rights Stellantis—the world’s sixth-largest automaker, with brands including Chrysler and Jeep—will announce a new $2.54 billion deal to revamp existing plants in Southern Ontario for the production of electric vehicles (EVs) Celebrating something? Let us know for a shoutout here: https://thepeak.typeform.com/to/GuHjLDoa The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.