Lucas Arender

Intact will start fireproofing houses

Property insurer Intact is launching a pilot program to reduce wildfire damage to homes in Western Canada this year. 

Driving the news: Intact’s partner, Wildfire Defense Systems, will monitor wildfires in Alberta and B.C., and send a team to fireproof insured homes that are considered to be at risk. 

Feds levy record fines for foreign worker exploitation

The feds are hoping hefty fines will teach some “bad actor” employers a lesson.

Driving the news: New government data shows Ottawa handed out record-high penalties to nearly 200 Canadian businesses last year for breaking the rules of temporary foreign worker (TFW) programs, including wage theft and workplace abuse, per The Globe and Mail.

TD probe revolves around U.S. drug trafficking case

For well over a year, Bay Street wondered what TD had done to find itself at the heart of a U.S. money laundering probe. After a long, mysterious wait, we’ve got some answers. 

Driving the news: A U.S. Justice Department probe into TD Bank is reportedly tied to the drug trafficking operation of a Chinese crime group that laundered at least US$653 million in profits from the sale of illegal narcotics, including fentanyl, at U.S. banks.

Wegovy comes to Canada

After filling doctors' prescription pads in the U.S., Wegovy is taking its talents north of the border. 

Driving the news: Novo Nordisk’s weight loss drug Wegovy will be available in Canada starting today, a move that will relieve the high demand for Ozempic, a sister drug also owned by Novo, and boost Canadians' access to both treatments. 

Canadian carbon capture project bites the dust

As one Canadian company has learned the hard way, taking carbon out of the atmosphere is easier said than done.

What happened: Alberta’s Capital Power is scrapping its $2.4 billion carbon capture project, one of the largest in Canada. The decision to pull the plug for financial reasons is another red flag about the long-term viability of carbon capture.

Ontario launches high school trades program

Ontario is hoping the promise of less time sitting in the classroom will convince more students to swap their notebooks for hard hats. 

What happened: The Ontario government is launching a fast-track program in the fall designed to get more high school students into the trades, offering Grade 11 and 12 students the option of spending 80% of their would-be class time in apprenticeships.

The business trip is back

After a years-long hiatus, business travellers are wiping the dust off their old carry-ons and saying sayonara to their home offices. 

Driving the news: The age-old business trip is seeing a resurgence as companies in Canada and the U.S. move on from virtual meetings and send their employees back into boardrooms and conferences around the world. 

Trans Mountain expansion is finally ready to roll

For the last decade, the Trans Mountain pipeline has been like the kid that just keeps asking their parents for more money. Today, it finally has something to show for all that cash. 

What happened: The Trans Mountain pipeline expansion (TMX) officially launches operations today, a long-awaited feat that promises to boost Canadian oil exports and marks the finish of Canada’s most expensive — and frequently delayed — infrastructure project.

AI-powered weapons stoke new fears

Remember the Transformers movies? Experts from around the world are looking for ways (aside from hiring Shia LaBeouf) to keep it from becoming a reality. 

What happened: Civilian, military, and technology leaders from more than 140 countries met in Vienna yesterday to discuss how to check the growing risks associated with autonomous and AI-powered weapons. 

Canada’s got a GDP per capita problem

Even with AI tools, highly caffeinated beverages, and a roster of podcasts eager to tell us all how to work “smarter,” Canadians are in a bit of a productivity slump. 

Driving the news: Canada’s economic output per person has fallen below its long-term trend by 7% — a loss of around $4,200 per person — according to a new report by Statistics Canada.

Pop brands join the drink industry’s health kick

The way things are trending, a nice fizzy drink could soon replace your morning vitamins.

Driving the news: Legacy pop brands like Coca-Cola, Pepsi, and Sprite are dropping new low-cal, bold-flavoured drinks in an effort to keep up with newer brands that are catering their fizzy beverages to younger and health-conscious consumers. 

Teacher shortage prompts perfect grades

Some parents might be less than thrilled when they find out their kid's perfect grade on a biology midterm was more of a participation trophy. 

Driving the news: A group of grade 12 students at Ontario’s St. Maximilian Kolbe Catholic High School walked out of their biology and business midterms with perfect grades as the school board grapples with a teacher shortage that has left classes without full-time educators.

Canada hosts global plastic treaty negotiations

A group of delegates will spend the week in the nation's capital comparing notes on why plastic is, in fact, not so fantastic. 

Driving the news: Ottawa will play host to delegates from 174 countries this week for the fourth round of United Nations plastic treaty negotiations. The committee will look to make progress on a plastic-reduction agreement ahead of final talks in South Korea in November. 

CEO looks to take 23andMe private

The DNA test kit that once made Oprah’s list of favourite things (alongside sheepskin slippers and pre-made chicken pies) has fallen on tough times.

What happened: 23andMe CEO Anne Wojcicki is planning to take the company private following a disastrous three years, during which its valuation crashed ~98%. The company’s stock has fallen so far that it has been on the verge of being delisted from the Nasdaq. 

NHL scores a record-breaking year

The only thing more impressive than the players' soon-to-be-grown playoff beards is the total at the bottom of the NHL balance sheet this year. 

Driving the news: The NHL playoffs are kicking off this weekend, but the league is already set to walk away as the real winner — though it won’t be hoisting a silver cup — after raking in a record US$6.2 billion this season thanks to a number of lucrative sponsorship deals.   

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.

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.

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. 

Tesla slashes prices for self-driving software

Tesla is hoping that a good old-fashioned sale will get more customers to buy into the whole self-driving car thing. 

Driving the news: Tesla is slashing the price of its Full Self-Driving (FSD) software subscription from US$199 to US$99 per month in the U.S., part of a larger effort to boost customer subscriptions amid tough financial times for the EV maker. 

Bird flu makes its way to mammals

Birds have already given us food, inspiration for band names, and countless sports mascots. Unfortunately, they might also be giving us a nasty virus.

Driving the news: A recent outbreak of bird flu in U.S. cattle has now spread to a human, with at least one person in Texas testing positive for the virus. It’s the latest worrying development in an outbreak that has infected millions of animals around the world.

RBC puts the finishing touches on HSBC takeover

If you spotted an RBC on your commute this morning you could have sworn was an HSBC, don’t worry, you’re not going crazy… 

Driving the news: We hope you’ve said your final goodbyes to HSBC’s Canadian arm, since this week you’ll find that dozens of HSBC branches transformed into RBCs overnight, marking the final stages of the 2022 $13.5 billion acquisition by the country’s largest bank. 

Schools take their social media gripes to court

The fight to get kids to stop scrolling on TikTok has gone from the classroom to the court. 

What happened: Four of Canada’s largest school boards have filed $4.5 billion worth of lawsuits against the owners of Snapchat, TikTok, and Facebook and Instagram, accusing them of deliberately harming students and interfering with their ability to learn. 

Canada takes a work trip to Vietnam

Canada is hoping to take its relationship with Vietnam to the next level. 

What happened: Canada sent its largest-ever delegation — including the trade minister and hundreds of Canadian business people — to set up some coffee chats in Vietnam this week as it looks to strengthen trade ties with one of the fastest-growing Southeast Asian economies.

Marineland stays in hot water

Marineland’s marketing team might’ve forgotten to consult the animals before deciding to stick with the famous “Everyone loves Marineland” jingle.

Driving the news: Marineland has denied claims that it’s closing down, despite a tumultuous month that has included animal cruelty charges and reports of two more dead whales, bringing the park’s tally of whale deaths to a gut-wrenching 17 since 2019. 

Air passenger rights head to Supreme Court

Canada’s top court is hearing a case about an oh-so-common travel nightmare: flight cancellations. 

What happened: Members of the airline industry are appealing Canada’s air passenger protection rules in the Supreme Court, arguing that the feds don’t have the right to impose rules on foreign carriers and that compensation amounts go beyond passengers’ losses. 

Ottawa braces for potential Trump trade tax

A drastic Donald Trump campaign promise has got the feds in a frenzy (and no, it’s not about building a really big border wall). 

Driving the news: Over a dozen Canadian diplomats spent last week in Washington meeting with U.S. lawmakers to discuss the implications of a potential Donald Trump presidency. 

Apple slapped with antitrust case

Apple just got thrown into a real-life game of Monopoly that it probably wants absolutely no part of. 

What happened: The U.S. Justice Department and 16 jurisdictions filed an antitrust lawsuit against Apple that alleges the tech giant uses its dominance in the smartphone market to deter and prevent iPhone users from accessing rival software, services, and devices. 

Election reform en route in Ottawa

Canadians who say they don’t have the time to vote could soon be left looking for a new excuse. 

What happened: The government has tabled an election reform bill that looks to increase voter turnout, an effort that is reportedly part of the supply-and-confidence agreement between the Liberal and NDP that has kept the Trudeau government in power.

AstraZeneca scoops up Canadian cancer drug maker

One of Canada’s top biotech prospects has been called up to the big leagues. 

What happened: British pharma giant AstraZeneca is acquiring a promising Canadian biotech firm, Hamilton-based Fusion Pharmaceuticals, in a deal worth up to $3.26 billion. 

Canada inks hydrogen pact with Germany

Canada is buddying up with its pilsner-drinking, schnitzel-eating ally to kick-start a new clean energy trade market. 

What happened: Canada and Germany agreed to help accelerate the creation of a global market for clean hydrogen gas — a low-emission energy source used to power industrial machines, heavy vehicles, and residential heating — and connect Atlantic Canada producers with EU buyers. 

Canada’s got a measles problem

File this story under “diseases you thought you could stop worrying about”: Experts are worried that a recent surge in measles cases could soon get worse as kids return from the March break holidays. 

Driving the news: New modelling projections from researchers at Simon Fraser University show that Canada has a high chance of experiencing a significant measles outbreak, potentially infecting thousands.

Nestlé’s future may involve healthier snacks

In a reversal of the famous slogan, Nestlé’s shareholders are telling the company to take a break from the KitKats. 

Driving the news: Nestlé is facing demands from its shareholders to sell more nutritious foods. The coalition is led by a responsible investing charity that has criticized the world’s biggest food maker for relying too “heavily on sales of less healthy foods.”

Loblaw lays down new security measures

If you thought the security line was bad at Toronto’s Pearson Airport, wait until you see the queue of customers just trying to leave your local Loblaws. 

Driving the news: Loblaw-owned grocery stores, including Superstore and Zehrs, are now testing receipt scanning systems at four locations in Ontario, part of the company’s efforts to beef up security as thefts at grocery stores and retailers rise across Canada. 

American meat labelling rules puts Canada in the crosshairs

Some new ground rules from our southern neighbour are putting Canadian cattle at risk of losing their honourary dual citizenship. 

What happened: This week, the U.S. issued new, more restrictive guidelines for when “Product of USA” labels can be used on meat, poultry, and eggs. The move is meant to help U.S. farmers, but experts expect it to hit Canada’s agriculture sector hard in the process. 

Canada’s tourism industry has a China-sized hole

Niagara Falls, the CN Tower, and even the world’s largest coffee pot aren’t enough to lure Chinese tourists back to Canada.

Driving the news: Last year, only 225,100 Chinese visitors came to Canada, down from ~750,000 tourists seen before the pandemic, according to recent StatCan data. The loss in the big-spending Chinese market is a blow for Canada's still-recovering tourism industry. 

Surge pricing could be coming to restaurants despite Wendy’s backlash

The plan to bring the excitement of day trading to the experience of buying a Baconator didn’t pan out for Wendy’s, but the concept could be coming to more restaurants soon. 

Driving the news: Wendy’s backtracked on its plan to implement so-called surge pricing into its fast-food joints, but some in the restaurant industry say dynamic pricing — where prices fluctuate frequently based on demand — could soon become commonplace.

Canada’s IPO drought celebrates one-year anniversary

The last time the IPO market in Canada was this bad, the sitcom Friends debuted, Forrest Gump hit theatres, and a guy named Jeff Bezos launched a little book shop called Amazon. 

Driving the news: It’s been one year since the Toronto Stock Exchange saw its last initial public offering, with one analyst telling Bloomberg that the “economy isn’t focused on the sectors where investors want to put their money,” including technology and healthcare.

Investments that (literally) perform

Here's one way to really make your TFSA returns sing: Invest in Beyoncé’s next hit song. 

Driving the news: If you’re looking to brag about owning 0.01% of “Single Ladies” at your next dinner party, a startup called JKBX has launched a digital marketplace that will let you buy shares in popular songs from artists including Taylor Swift and Major Lazer.

Rate cuts are on the horizon

“Babe, wake up, Tiff Macklem is dropping the rate decision today…,” if this isn’t how your partner woke you up this morning, let us get you up to speed. 

Driving the news: The Bank of Canada is widely expected to hold interest rates steady today for the fifth consecutive rate announcement. This is even as the inflation rate dropped to 2.9%, far from its 8.1% peak in 2022 and within the bank’s target range of 1% to 3%.

Cities are looking for a place to park new homes

In the midst of a housing shortage, city officials are looking to build homes on top of some of the country's ~97 million parking spaces.

Driving the news: Toronto is the latest Canadian city to look into converting public parking lots into housing, following the examples of Vancouver, Calgary, Windsor, St. Catharines, and London. Roughly 74 parking lots, about a quarter of the city's lots, could be up for grabs. 

Canada looks for answers to mineral slump

Canadian miners could be getting a shiny new pricing system that may help even the playing field with their competitors overseas. 

Driving the news: A federal cabinet minister says the government is exploring a way to manage prices of critical minerals, like nickel and cobalt, to mitigate the impact of a production boom overseas that’s sent mineral prices plunging.

Greenland wants to cozy up with its neighbours

A history of using Danish schnapps to smooth over land disputes could set the tone for a budding friendship between Greenland and Canada. 

Driving the news: Greenland, a 57,000-person island nation that also happens to be the 12th-largest country in the world, is looking to strengthen political and economic ties with Canada and the U.S. as part of a larger push to become more economically independent. 

First phase of Canadian pharmacare plan introduced

If you’ve ever longingly wondered why Canada can’t be more like Sweden, maybe a new pharmacare bill will help you feel a bit better.

Driving the news: The federal government has tabled the Pharmacare Act, which, if passed, would give Canadians access to free diabetes medication and birth control.

Sports cards reel in big bucks

Sure, trading stocks is cool and all, but have you tried trading your old sports cards? 

What happened: This week, an unopened case of hockey cards rumoured to have more than two dozen rare Wayne Gretzky rookie cards sold for $5 million at an auction.

Chinese money lures miner out of Canada

In response to a crackdown on Chinese investment in Canada’s critical mineral industry, major miners are deciding to drop the “Canada” part of their business.  

What happened: According to The Globe and Mail, Canadian miner SRG Mining plans to relocate to the United Arab Emirates, a move the company said will stop a national security review that could have put the brakes on its financing deal with a Chinese energy firm.

Germany legalizes recreational cannabis

This year’s Oktoberfest celebrations could have a much chiller vibe, and it’s all thanks to some weed-loving lawmakers in Germany.

Driving the news: Germany is the latest country to legalize cannabis for recreational use, a move that lays the groundwork for commercial legalization by 2030 and opens the door for Canadian producers looking to cash in on weed sales within the EU’s biggest economy. 

Another budget airline bites the dust

In what’s probably the most rational decision the company’s made since changing its name from Jet Naked, Lynx Air has decided it’s time to throw in the towel. 

What happened: Budget airline Lynx Air officially stopped flying last night, winding down operations after just two years in the skies. It's the latest discount airline to fall flat in an increasingly difficult Canadian aviation market. 

Google’s new AI model has an image problem

Google’s newest AI model may be the company’s “most capable” yet, but it might need to re-take some history classes. 

What happened: Google has paused its Gemini AI model from generating images of people after it produced inaccurate gender and racial depictions of historical figures — a flaw the company says was an unintended consequence of prioritizing diversity in the model’s training. 

Uber launches delivery robots in Japan

A new army of robots is coming… but don’t worry, they’re not trying to take over the world. They’re just here to deliver your McDonald’s. 

What happened: Starting next month, some Tokyo residents will have their Uber Eats orders delivered by an adorable autonomous robot. Japan is already known as the home to many restaurant robot servers, but it’s the first international market to adopt robot delivery on Uber. 

Alberta tourism gets new immigration stream

As people keep flocking to Alberta’s picturesque mountains, the province is struggling to find enough workers to keep the tourism industry afloat. 

What happened: Alberta is opening up a new path to permanent residency specifically for temporary foreign workers in the province’s tourism industry. Chefs, travel guides, and hotel receptionists are among the roles that will be eligible for the program starting in March.

Reddit cuts mystery AI licensing deal

It turns out Reddit threads aren’t just a valuable way to crowdsource advice from strangers, they’re also worth tens of millions of dollars to at least one AI company.

What happened: Reddit has cut a ~US$60 million licensing deal to sell access to the user-generated content from its platform to an unnamed AI company, per Bloomberg. 

Another blow for driverless cars

You think you had a rough week? Waymo had one of its cars literally set on fire in the middle of San Francisco — and that’s not even their biggest problem. 

Driving the news: Alphabet’s self-driving vehicle unit Waymo yesterday recalled 444 of its autonomous vehicles after a software issue caused cars to wrongly predict the movements of towing vehicles. In some cases, the errors led to collisions, including two in Arizona.

Lululemon the latest to face greenwashing complaint

Everyone’s favourite yoga pant maker is in some hot water over its ‘green’ claims.

Driving the news: Lululemon is facing a complaint from a climate-focused non-profit alleging the athleisure company is misleading customers about its environmental impact, joining the growing list of companies facing investigations over so-called “greenwashing.” 

Honey, I’m home… in Alberta

Like when Jerry Seinfeld’s beloved Bee Movie character Barry B. Benson finally settled down with a nice florist, Canadian honeybees have found themselves a loving home.

Driving the news: Alberta may be known more for raising cattle and pumping out barrels of oil, but it’s also the province that produced nearly $105.6 million worth of honey last year — good for setting a new Canadian record, according to the CBC. 

Feds ordered to address Canada’s judge shortage

Housing isn’t the only shortage facing the federal government these days: It turns out there are about as many judges in Canada as there are apartments for under $1,500. 

What happened: Ottawa has been ordered to start appointing judges across the country more quickly, according to the Toronto Star. The ruling found that vacant judicial slots have backlogged the legal system, in some cases leading to criminal cases being tossed out. 

Sony buys MJ rights as music catalogues become chart-topping investments

The competition might’ve been tough for the King of Pop’s music library, but Sony and its big chequebook told the other investors to beat it. 

What happened: Sony is acquiring half of Michael Jackson’s music catalogue for around US$600 million, a deal that will make it the most valuable catalogue ever sold, per Axios.

Bud Light goes back to its sporty roots

Months after a consumer boycott that lost Bud Light the status as America’s top-selling beer to Modelo, the beer brand has chosen the Super Bowl as the next stop of its comeback tour. 

Driving the news: Per The Wall Street Journal, Bud Light is banking on a 60-second Super Bowl ad slot to get back in with the guys. The brand is attempting to recover from backlash for its campaign with transgender influencer Dylan Mulvaney, which led to a slump in sales. 

Google drops a new chatbot

Now that Google and the federal government have squashed their beef over paying news publishers, the search giant is giving Canadians access to its shiny new chatbot. 

What happened: After snubbing Canada on the initial rollout of its first chatbot, Bard, Google will offer its improved and renamed AI chatbot, Gemini, to Canada.

Canadian miners look to Ottawa for help

Like anyone under the age of 40 trying to buy a house, Canadian miners will need a little bit of financial help if they want to set themselves up for the future.

What happened: As prices for critical minerals like lithium and nickel plummet, miners are warning that if the federal government doesn’t step up to help fund new projects, Canada could fall behind in production to rivals like China for good, per The Globe and Mail. 

Meta tackles AI-generated content

With AI deepfakes becoming more common on Facebook than old high school classmates promoting their multi-level marketing schemes, Meta has decided it’s time to step in. 

Driving the news: As deepfakes impersonating the likes of U.K. Prime Minister Rishi Sunak, Canadian treasure Michael Bublé, and pop star Taylor Swift come into the mainstream, Meta will roll out AI detection and labelling features across its platforms.

Canada tops global rankings for EV battery outlook

After a big year of spending, Canada’s no longer the underdog in the EV battery space.

What happened: Canada has surpassed China as the world’s most promising country for lithium-ion battery production, according to a new global ranking — a sign that its efforts to become an EV manufacturing hub are starting to pay off, per The Globe and Mail. 

Spotify shakes up podcasting world with new deal

Done with the days of throwing millions at anyone with a microphone and a few Instagram followers, Spotify is taking a new approach to its podcast business. 

Driving the news: Joe Rogan has reached a new multi-year deal with Spotify that will distribute The Joe Rogan Experience — the world’s most popular podcast — across all major audio platforms, the latest move in the company’s shift away from keeping its shows off of rival platforms.