The Peak Daily

Shopify’s no-good, horrible, very-bad year only got worse after the company announced it was laying off 10% of its workforce , sending shares cratering by ~15%. Unilever increased prices across its 400 brands, from Dove soap to Hellmann’s mayonnaise, by 11%, as executives try to battle an “unprecedented cost landscape” without losing customers to cheaper alternatives . The Kardashians aren’t happy...

Yesterday, Rogers execs went to the House of Commons, received a stern talking to, explained what went wrong, and laid out some measures to prevent another major outage. Grocery chains and suppliers have said the government may need to intervene to help create a national code of conduct for the industry, per the Financial Post. The US Senate has voted to advance a US$280 billion package of subsidi...

DALL-E 2, the image generator that took the internet by storm, has become more widely available. Snap shares fell 35% yesterday after the company reported lacklustre growth and revenue results, despite an increase in daily active users of 18% to 347 million . Ukraine and Russia signed an agreement to reopen three key Ukrainian ports for the shipment of grain, in an attempt to avoid plunging the gl...

Ontario wants Toronto and Ottawa’s mayors to become the country’s first ‘strong mayors ’—and no, that doesn’t mean they need to hit the gym. Facebook-parent company Meta has revamped the Facebook app to make it feel a lot more like you’re browsing TikTok Within hours of each other, Canada and the US launched trade complaints against Mexican energy policies unfairly excluding foreign firms under th...

Canada’s consumer price index (CPI)  surged to 8.1% in June , the biggest annual increase in almost 40 years, mostly driven by high gas prices (up 54.6% since last year). Russia said that the Nord Stream 1 pipeline, Europe’s main gas delivery system, would resume operations today after a scheduled maintenance shutdown, likely at reduced capacity. The federal government has announced a $2 billion e...

Temperatures in Britain hit 40 degrees for the first time in recorded history and wildfires continued to sweep through Southern Europe, showing the huge economic toll climate change can take. On the heels of its first drop in global subscribers in more than a decade, Netflix is expected to lose over a million captive eyeballs—the largest quarterly loss in its history. Canada took the next step in...

Small business groups are calling on the federal government to change the tax system in order to crack down on multinational companies that are not paying their fair Canadian tax share, in response to some of Amazon’s tactics for tax avoidance coming to light. As Russia continues to squeeze Europe’s energy supplies (as revenge for siding with Ukraine in the ongoing war), the European Commission is...

Travel insurers  are seeing jumbo-jet-sized losses thanks to an onslaught of claims from Canadian travellers experiencing flight delays and cancellations. The Bank of Canada (BoC)  kind of  underestimated just how bad inflation was getting—and is now playing catch-up as it serves up a series of jumbo rate hikes. Long hospital wait times may be the bain of Canada’s health care system, but they’re ...

It’s  EVWeek in Canada  and to celebrate the government announced funding announcements for ~950 new electric vehicle (EV) charging stations. Amazon wants to  make a deal with EU regulators : The company will limit its use of marketplace seller data and make changes to ‘Buy Box’ rankings, in exchange for a truce (and avoiding a fine worth up to 10% of its global revenue). Anyone else finally feeli...

If cheese and milk regularly appear on your grocery list, get ready for higher even bigger bills at the checkout this fall.  as two Canadian food suppliers notified grocery stores their dairy products are going to cost more . Statistics Canada just dropped the latest census data so we thought we’d dig a bit deeper into some of the income data and why it matters to you—and trust me, we’ll make it f...

As we navigate the Post Rogers Blackout Era (PRBE), the federal government has stepped up to make sure future service shutdowns aren’t so apocalyptic. Big private equity firms are drilling for value and finding Canadian dental clinics. At 10:00 AM (ET) the Bank of Canada will kick things off with its decision on the  overnight interest  rate target. The Peak Daily is produced by  306 Media Product...

There’s a new content creator on the TikTok block: Energy companies. Ever wonder where all the  nasty   stuff  that accumulates on cruise ships ends up? Turns out a lot of goes right into the beautiful waters just off the BC coast, according to a  new report  examining the cruise industry’s environmental impact. The latest victim of crashing tech valuations: Buy now, pay later, or BNPL firms. The...

~12 million Canadians were affected by Friday’s  Rogers network outage  and they piled into their neighbourhood Starbucks to wrap up work for the week. Ireland’s Data Protection Commission is moving forward with a decade-old data transfers complaint against Meta this week, by forwarding a decision to other agencies for review that would crack down on the company’s ability to transfer its data from...

Canada’s construction sector is facing a  serious labour crunch  that’s causing companies to turn down or cancel projects and threatening the long-term prospects of the entire industry. In a sign that Russia is hunkering down for a long fight in Ukraine, the government is shifting the economy to a wartime footing. Amazon is betting big on  Amazon Live , a livestream shopping feature where influenc...

Home prices around the globe (including in Australia, New Zealand, the US and UK) are on the verge of decline, according to Capital Economics, a research group. In the case of international trade, longtime pals Canada and New Zealand are bickering over new Canadian dairy policies that are hampering New Zealand’s export ambitions. Twitter is taking on the world’s largest democracy and suing the Ind...

Russia is set to switch off the taps to one of Europe’s largest natural gas pipelines—and Germany is worried! As students get back to campuses and workers to offices, already overheated rental markets across the counry are starting to feel the heat, with  Rentals.ca  reporting average monthly rents reaching  $1,888 in May  (a 10.5% increase from last year). At least two new things are coming to th...

The Bank of Canada (BoC) released its newest quarterly surveys on consumer expectations and business outlooks yesterday and one thing was clear: both groups are still hyper-focused on inflation, but not yet panicking about a potential recession. Some good news in the long fight against supply chain disruptions: After two years of high demand, sales of some semiconductor chips are starting to wane—...

TikTok is once again fighting for its survival in Western markets as it faces growing criticism over its relationship with China’s government and how it handles user data. We hope the scourge of inflation this year didn’t spoil the long weekend for you, but you might have noticed paying more for pretty much everything you need for a successful ‘BBQ. Meta, the parent company of Facebook and Instagr...

Scotiabank, Tim Hortons, Telus, and Canadian Tire have suspended funding for Hockey Canada following the organization’s mishandling of sexual assault allegations against its players. If you’re a fan of haggling with salespeople at car dealerships, we have bad news: Ford plans to shake up the tried-and-tested dealer model of car sales, using the sale of electric vehicles (EVs) as a testing ground f...

The federal government is “doubling down” on its supercluster innovation program , slapping on a fresh coat of paint and publicly reasserting its importance in driving Canadian innovation. Asset management behemoth Blackstone made it clear it has no interest in investing in single-family homes as part of its expansion into Canadian real estate, but the same can’t be said for other big investors. I...

On Sunday, G7 nations said they were standing with Ukraine for “as long as it takes” in their fight against Russia. On Monday, they translated those words into action with a plan to cap the price of Russian oil , depriving Vladimir Putin of a key revenue source. We’ve all heard calls to save the bees and now we might be hearing calls to save the berries too as declining bee populations mean Canadi...

The rumour about Netflix’s next big move is true and, no, it’s not the one you heard about them bringing back your fave cancelled show (#GLOWSeason4Now):  Ads are officially coming to the platform . Hybrid work may seem like a nice compromise between employers who want workers in seats and employees who’d rather not spend hours commuting every week but CEOs are starting to disagree. Mover over Gam...

Amazon has introduced its first  fully-autonomous mobile robot  designed to safely and easily lift and move large carts around its warehouses, part of a larger effort to automate its sprawling fulfillment centres. Canadian airlines will soon need to  offer customers a refund  for cancelled or delayed flights, even if the reason for the disruption is beyond the airline's control thanks to changes t...

Loblaws has partnered with DoorDash to launch a new rapid grocery delivery service that promises to get customers their fave foodstuffs in 30 minutes or less, available in 12 Canadian cities by the end of August. Shopify is rolling out over 100 new products and features as the company looks to get a leg-up on its biggest threat, a scrappy young upstart called Amazon. Inflation jumped to 7.7% last...

TikTok announced that Oracle’s cloud servers will be the new home of US users’ data , but a new report from Buzzfeed detailing how state-side user data was repeatedly accessed from China . Canada’s healthcare system is teetering on the brink of crisis and governments must act swiftly to avoid a full-blown meltdown, according to a growing chorus of top doctors and medical leaders. Canadian moviegoe...