The Peak Daily

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.

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.