The Peak Daily

Municipal governments across the country, including Winnipeg, Ottawa and Charlottetown are enforcing new regulations to get a grip on the booming short-term rental market, ahead of the busiest summer travel season in years. Elon Musk threatened to walk away from buying Twitter in a letter that accuses the company of not complying with his request for data on the number of spam and fake accounts on the social media platform Day One of Apple’s World Wide Developer’s Conference kicked off yesterday with an updated iOS, a buy-now-pay-later service, and two new Macbooks capturing the most attention. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Amidst rampant inflation and supply-chain disruptions, Canadian dairy farmers feel squeezed to get their products onto grocery store shelves. Billionaire CEO Elon Musk is feeling "super bad" about the economy and will move to pause hiring and cut ~10% of his Tesla workforce, he said in an email to executives on Thursday. Canada’s got a bigger productivity problem on its hands that threatens to drag down both business profits and wages. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Montreal-based Repare Therapeutics has entered a deal (potentially worth US$1.2 billion) with pharma giant F Hoffman La Roche to create a new drug to treat cancerous tumours. Almost half of Canada’s asset managers, researchers and lenders are “not very satisfied” or “totally dissatisfied” with available company data for so-called “green” investments, One estimate suggests that inflation has offset two-thirds of the buying power of Canadians after the pandemic The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

The Bank of Canada (BoC) is continuing to aggressively hike interest rates to combat high inflation, announcing another 0.5 percentage point raise yesterday to 1.5%. Canada’s largest employers are now required to report wage-gap data, part of an effort to shine a light on pay discrepancies across the country. Some of North America’s largest food and drink companies are pledging to limit advertising to children under 13, as increased regulation on the practice looms The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

Canadians could soon find it difficult to cool down this summer as lifeguard labour shortages start to impact beaches and pools across the country. Over four million Canadians who use the Tim Hortons mobile app may have had their day-to-day movements recorded without their knowledge Job hunters tired of sending out cover letters that may never be read, along with employers tired of reading them, are increasingly turning to work messaging app Slack to connect The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.

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.