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Ottawa urges pensions to spend more at home

The feds are hoping Canada’s top pension funds will consider spending a little more of their ~$2 trillion in assets at home. 

Driving the news: Ottawa is enlisting former Bank of Canada governor Stephen Poloz to spearhead a new working group tasked with getting Canadian pension funds to invest more in their own backyard, particularly in housing and infrastructure.

Retro sneakers are all the rage

Business at Adidas is booming this year. If you’re wondering why, just go for a walk around town and count how many pairs of Sambas you see walking the street.

What happened: Shares in the German sports giant hit a two-year high — fully recovering from the financial tumult caused by their break-up with Kanye West in 2022 — after a smashing first quarter led by sales for its retro Samba, Gazelle, and Campus sneakers.

Raptors scandal highlights worries about sports betting

After one of its worst seasons in franchise history, Canada’s only NBA team now has the indignity of seeing one of its players kicked out of the league. 

Driving the news: Toronto Raptors player Jontay Porter has received a lifetime ban from the NBA after an investigation found he broke the league’s gambling rules by betting on games and, more seriously, manipulating games that he played to benefit sports bettors.

Budget aims to build momentum for Canadian innovations

The government’s plan to support Canada’s innovation sector is less about opening its own wallet and more about sparking investments from elsewhere.

Growing muscles for robots

It’s hard to get robots to move smoothly. All of those rigid parts make for stiff movements and a lot of wasted energy, which — besides looking silly — doesn’t make them all that useful for the commercial settings they are being developed for.

The next AI models could be trained by gig workers

New side hustle alert: teaching ChatGPT how to be a better writer.

Shoppers pharmacists sue over shady practices

Class-action lawsuits can be a real headache, but luckily Shoppers Drug Mart executives have an unlimited supply of extra-strength Tylenol at their disposal. 

What happened: An ex-Shoppers Drug Mart pharmacist has filed a proposed class-action lawsuit against his former workplace, and its parent company Loblaw, claiming that the chain breached franchising deals by coercing pharmacists into “unsafe and unethical" behaviour.

Tim Hortons has entered the pizza game

Canadians' favourite spot for a double-double and an old fashioned glazed doughnut is trying its hand at a new endeavour: pizza. 

What happened: Today, a line of flatbread pizzas — including cheese, pepperoni, "bacon everything," and chicken Parmesan varieties — is launching at Tim Hortons locations across Canada. It’s part of the brand’s bigger push to get customers into cafes after breakfast.

Taxing times call for taxing measures

With so much spending already announced, we were left wondering what the feds would actually end up unveiling at this year’s budget meeting. 

The answer? A new tax to pay for all those plans, obviously.     

What happened: The federal government unveiled its 2024-25 budget yesterday. The biggest news to come out of it was an increase in the capital gains tax inclusion rate. Starting June 25, gains over $250,000 will be taxed at a two-thirds rate, up from one-half. 

Meta bets on virtual learning

It might not be long until parents are adding virtual reality headsets to their kid's back-to-school shopping lists. 

What happened: Meta is trying to bring Grade 9 algebra lessons into the metaverse by launching a new education hub for its Quest VR headsets. 
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