The Peak Daily

Shopify has had a stunningly bad year, but then again, so have most tech giants. Wouldn’t you love to fly across the world knowing you weren’t also contributing to the perils of climate change? Well, soon that dream could become a reality. As Elon Musk’s Twitter faces increasing backlash, the billionaire has shown he’s not afraid to rule the platform with an iron fist. Celebrating something? Let u...

Danish beer titan Carlsberg is buying Canadian brewery Waterloo Brewing for a cool, crisp, and hoppy $144 million in the largest deal ever for a Canadian brewery. The US Justice Department and Securities Exchange Commission (SEC) charged eight finance influencers with defrauding investors of US$114 million through “pump and dump” schemes, in which they encouraged followers to sink money into penny...

Like many of us, the world’s central banks are ready for a re-brand in 2023: Out with the inflation-fighting fun-sucking and in with a cooler and more laid-back approach to rate hikes. Google heard all the clamour about ChatGPT (OpenAI’s AI chatbot that’s been heralded as a huge leap forward in the field) and how it could one day take on Google Search . In response, the company is telling everyone...

Today is the final day of the hearing that will decide t he fate of the Rogers-Shaw merger , a deal that has wide-ranging implications for competition in Canada’s telecoms industry. Please, stop us if you’ve heard this one before, but Elon Musk’s Twitter just made a big change involving safety and moderation leaving a whole bunch of people on bad terms. Feeling gloomy about the state of Canada’s e...

Could the sport that finally breaks the ranks of the Big Four North American Leagues really be one that’s named after a briny, preserved vegetable? If you thought things couldn’t get worse for the crypto world, this week may force you to think again. Seven interest rate hikes later, personal finances have seen better days. Celebrating something? Let us know here: https://thepeak.typeform.com/to/MN...

Québec became a destination for crypto mining, a practice often criticized for its high  energy use, by boasting some of North America’s cheapest energy prices. But now, Hydro-Québec has asked the province for permission to reallocate energy to other projects,  per *The Wall Street Journal .* According to Deloitte Canada, the average household will spend $1,520 this year on the holidays, 17% less...

The holiday season has always been a time for opening our hearts and wallets to charity, but this year, more Canadians are cutting giving out of the budget as they try to conserve cash. A dozen developing countries might spin into a debt crisis within the next year, spelling financial trouble for some of the world’s most vulnerable people, per The New York Times. The government is looking to imple...

We’ve come a long way since the 8.1% inflation rate seen in June (a near four-decade high), but if you ask the Bank of Canada (BoC), the economy still has some way to go. GoodLeaf, a Guelph-based indoor farm, raised $150 million from McCain and the investing arm of Quebec insurer Power Corp to expand its greens into a national brand. Canada has invested billions into the critical minerals mining s...

A corporate one-two punch has left the executive bench at Salesforce looking a bit empty . After the Canadian men flamed out of the World Cup, a new group is trying to keep soccer fever alive and well with a focus on Canada’s (historically way better) women players. The UN’s COP15 biodiversity conference commences today in Montreal with over 10,000 participants set to discuss how to protect and in...

Stablecoin group Circle has abandoned its plans to go public, one of the first signs that the fall of crypto exchange FTX is starting to hit even digital assets regarded as the least risky. Folks, Canada’s got a serious case of the ol’ [“inverted yield curve.”]( https://www.bnnbloomberg.ca/yield-curve-inversion-hits-widest-in-canada-since-early-1990s-1.1854997#:~:text=The yield on Canada's benchma...

OpenAI (the lab behind the AI-powered DALL-E image generator) launched its new AI chatbot ChatGPT  to the public as part of its beta test. China’s President  Xi Jinping  has publicly acknowledged the  protests  that have erupted across the country in response to the government’s strict anti-Covid measures. Volkswagen is setting its sights on Canada for a new electric vehicle (EV)  battery factory...

Elon Musk took a quick break from social media stardom to shift back to mad scientist mode, claiming that chips will start being implanted into human brains in as little as six months. You won’t be surprised to hear that Canada’s big banks are raking in cash during a positive earnings season, but some are doing unusually well and have higher interest rates to thank. These days you can’t answer you...

Happy Spotify Wrapped Day to all who celebrate! And apologies to all who don’t (hey there, Apple Music users) because your Insta stories are about to give you some major FOMO. Tough economic times mean that consumers have to take a good, hard look at what they buy, limiting purchases to only the essentials like groceries, rent, and… snowmobiles? Financial responsibility is becoming more attractive...

RBC is already the country’s largest bank by assets ($1.71T), but just because you’re the biggest doesn’t mean you can’t get even bigger by buying HSBC. Nestlé isn’t the first company that comes to mind when you think of Big Pharma. And considering how their rollout of a new allergy drug is going, it’ll probably stay that way. While you’re using DNA testing services to explore your neanderthal anc...

It’s been an up-and-down year for streamers as they struggle to diversify revenue streams. Now a radical, unprecedented idea has come to the fore: Playing movies in movie theatres. In the face of rising crime rates in Mexico, more Mexicans are looking to pack their bags and head north of the border… aaaand north of that border. Workers may want to stay remote, but employers want them in the office...

The public inquiry into the use of the  Emergencies Act to break up convoy protests earlier this year has officially come to a close. Starting in January, profits from sales of homes occupied for less than a year will be 100% taxable as income—barring exceptions like death or work relocation. When insurance giants listed “climate change” as their  biggest concern in a recent survey, they probably...

Canadians are projected to spend 13% less on gift-giving this year as they save money for essentials, but that doesn’t necessarily mean Black Friday will be a total bust for retailers. Dentalcorp , Canada’s largest consolidator of dental clinics, has launched a review of its business to determine how to best “unlock shareholder value,” to which one answer could be “just sell the thing.” Canada is...

Just a few days into the 2022 World Cup, feats of athleticism from the world’s best soccer players have been largely overshadowed by controversies and bold acts of defiance. The pain of rising interest rates is starting to spread across the housing market, and more people may soon find themselves facing larger monthly mortgage payments. Mercedes is now charging a US$1,200 annual subscription fee f...

Meta’s Oversight Board, an independent body that judges the company’s most high-stakes content moderation cases, just made a decision that could change how the company moderates content. In 2017, the government launched its National Housing Strategy to create more affordable housing, which includes a sub-plan aimed at cutting chronic homelessness in half by 2028. Canada’s biggest private unions ar...

The International Bureau of Weights and Measures (BIPM)-the group that quite literally decides what time it is -voted to [abolish the leap second]( https://www.nytimes.com/2022/11/19/science/time-leap-second-bipm.html#:~:text=It was devised as a,allow Earth to catch up.) . On December 1, a new law comes into effect guaranteeing ten paid sick days a year for employees in federally-regulated industr...

If you log onto Twitter these days, the vibe is akin to what we imagine being on the deck of the Titanic was like, you know,  riiiight  after it hit the iceberg. Qatar spent ~US$300 billion (roughly 6.8 Twitters) on World Cup 2022, making it  the most expensive FIFA contest ever . A disastrous presale of tickets for Taylor Swift’s upcoming tour has landed Ticketmaster (and its parent company Live...

According to a guy that’s seen the darkest side of the corporate world, the fallen crypto exchange FTX is the worst of it all. Last month Indonesia floated the idea of a so-called “ OPEC for nickel ”. Now, it’s shopping around for partners to make this cockamamie dream a reality. At the top of its list? Canada. You probably know that it rains a lot in Vancouver. What you might not know is that Can...

Is it the beginning of the end of Canada’s real estate downturn? RBC thinks so. Cult-favourite note-taking platform Notion launched a private alpha test for its newest product, Notion AI , which can generate written content with a single prompt. Canada is ill-equipped to detect ships in its Arctic waters , and the country’s Auditor-General is pointing fingers at the federal government for not doin...

The Bank of Canada (BoC) is on track to give “monetary tightening” a whole new meaning by losing between $5 billion and $6 billion over the next few years. As Black Friday rears its head, the world’s largest retailer is showing signs that the doom and gloom facing the retail sector this year may have been ( at least a little ) overhyped. A former researcher who worked in its electric batteries uni...

More Canadians than ever want to get behind the wheel of an electric vehicle (EV), but most won’t be able to plant their butt in a driver’s seat anytime soon. Still have some spare CERB money kicking around? Why not bring together your closest billionaire friends and buy a professional hockey team? Not long after warning of a slowdown around what is usually a busy holiday season, Amazon has become...