Canada’s COVID-19 existing aid programs are set to expire this weekend and will be replaced with new, trimmed down programs, Finance Minister Chrystia Freeland announced today. 

What happened: The feds will replace the Canada Recovery Benefit with a new benefit until next May that will pay $300 per week to workers who have to miss work due to lockdowns.

Some programs are staying, however: the government will extend its federal hiring program to help businesses that have struggled to find workers until next May, along with the Canada Recovery Sickness Benefit and the Canada Recovery Caregiving Benefit.

Zoom out: As the economy re-opens the feds are looking to wind down costly support programs, but it remains to be seen whether businesses and workers will be able to get by without the added support yet.

The public feud over Rogers’ board is getting spicy enough that it could serve as inspiration for the next season of Succession.

Catch up: Rogers chairman Edward Rogers has been trying to oust CEO Joe Natale, who joined Rogers in 2017, for weeks. Rogers claims the telecom’s business has been lagging relative to rivals Bell and Telus under Natale’s leadership. 

What happened: Rogers wanted to replace Natale with the telecom’s CFO, who has since left the company (and who inadvertently tipped off Natale to the scheme via a butt-dial). 

Rogers’ relatives were never on board with the idea of replacing Natale, however, and that’s caused a rift among the family. 

​Why it matters: While all families bicker here and there, it’s a bigger deal when it’s the Rogers family, which controls over 97% of the company's voting shares.

Wealthsimple is adding cryptocurrency options to its group retirement plans.

Get rich slow: That’s been Wealthsimple’s motto since its founding in 2014. But recently, the Toronto-based company that got its start as a robo-advisor has embraced the cryptocurrency market with open arms.

What’s new: Now, companies that have a retirement savings plan with Wealthsimple can add cryptocurrency options. They will be able to assign up to 3% of their portfolio to Bitcoin and Ethereum ETFs, both of which let retail traders dip their feet into the volatile cryptocurrency market. 

Why it matters: Wealthsimple’s trading platform is popular among younger clients, and adding cryptocurrency to their group retirement plans offers Wealthsimple to keep and grow their Gen Z and millennial client base. 

It’s been a… let’s say challenging… year and a half for all of us. With all this time spent at home, isn't it time to give yourself the home you deserve?

And if a home extension is on your wish list for next year, now is the time to get started, because planning a major home reno project the right way — like Billdr always does — typically takes 6-8 months.

And if you sign a construction contract with Billdr before the end of the year, they’ll fully refund your estimate fee. Do something nice for your future self: start planning your home reno with Billdr today.

You may not be able to buy that house IRL, but how about a nice plot of land in the digital world? Speaking of which, the world's first metaverse-based real estate investment trust (REIT) is set to launch.

Some background: Canadian cryptocurrency company Tokens.com bought a 50% stake in Metaverse Group earlier this week. Typically, REITs operate and finance real estate, like office or retail buildings. As part of this deal, the two companies will launch a Metaverse REIT for digital real estate. 

But why digital real estate? Digital real estate combines two of investors favourite buzzwords as of late: cryptocurrency and the metaverse. Just like real estate IRL, these digital worlds will have a finite supply of land to sell, which will (if you believe the pitch) grow in value over time. 

Big picture: The Metaverse REIT signals that investors are interested in the metaverse as an asset class, and not just a concept. We haven’t seen the full potential of the metaverse, but investors want first dibs on digital real estate anyway. 

Roku accused Google of demanding preferential treatment on its platform in order to access YouTube content yesterday. 

What happened: Roku had an agreement with YouTube TV that ended in April but hasn’t been able to negotiate a new contract with parent company Google. Now Roku claims that Google wants it to give YouTube preferential treatment in exchange for a deal, a practice Roku claims is anti-competitive.

Zoom out: Google and Big Tech companies often use their market power to bully smaller players like Roku, though these practices are coming under increasing scrutiny of late. 

With more and more baby boomers retiring and looking for an exit from their business, now is the perfect time for senior leaders in companies to consider management buyouts.

A management buyout could give you a chance to own your own business (and secure higher returns) while minimizing risk.

Read First West Capital’s Six Steps to Completing a Management Buyout to learn more.

Kick off your weekend by scoring a 5/5 (and bragging rights) on The Peak's news quiz​. 

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