Canadian and U.S. officials are working to resolve a potato fungus outbreak in Prince Edward Island that has shut down potato exports. 

Catch up: On November 21, Canada banned potato exports to the U.S. after discovering a fungus in the province. Don’t worry, the fungus isn’t harmful to human health, but it can reduce crop yields if it’s not controlled.  

• If Canada hadn’t stopped exports from PEI to the U.S. on its own, there’s no doubt that the U.S. would’ve suspended them. 

The suspension of potato exports means that lots of potatoes are stuck in Canada, pushing prices down. 

Why it matters: The island grows around a quarter of Canada’s potatoes and the potato industry, which contributes $1.3 billion to the province’s economy, employs around 5,000 people. The ban on exports is costing potato sellers around $2 million per week. 

What’s next: Canadian officials have said that they have sprayed Canadian potatoes to prevent the fungus, but the U.S. hasn’t provided a timeline for restarting exports. 

Some Canadian companies are rethinking vaccine mandates as they struggle to fill job vacancies. 

What’s happening: There are still over one million job vacancies right now, and employers are beginning to loosen requirements that all staff be vaccinated in order to fill those roles. 

TD and the Bank of Montreal set a deadline for all in-person staff to be vaccinated, but now say they will allow for unvaccinated employees to undergo regular rapid testing instead.

• For similar reasons, Ontario and Quebec ditched plans to mandate vaccines for healthcare workers.

But this can be a double-edged sword. Companies risk losing business if they have unvaccinated staff, but they also risk losing business if they don’t have enough workers.  

Big picture: Countries are grappling with tricky policies surrounding vaccine mandates in an effort to stop the spread of the emerging omicron variant. In the U.S., federal courts have challenged the Biden administration’s efforts to require vaccines for federal employees,  healthcare workers, and companies with at least 100 workers. 

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The Federal Trade Commission (FTC) sued to block a $40 billion chip company takeover.

What happened: Last September, Nvidia agreed to buy U.K.-based ARM, prompting the U.K., E.U., and China to review the takeover on concerns that it could stifle competition. 

Now the FTC is suing to block the acquisition, a major setback for the deal.

Why it’s happening: ARM creates the designs used on chips by dozens of chip manufacturers, including Apple, Huawei, Intel, and Samsung. 

• Meanwhile, Nvidia controls around 80% of the market for graphics cards and chips used for gaming. 

At the time of the deal, Nvidia said its acquisition of ARM would give it better access to the mobile chip market, but the FTC believes it would also give Nvidia access to the chip designs of its competitors, who together control over 45% of the mobile chip market.

Zoom out: Striking down Nvidia’s acquisition of ARM is FTC chair Lina Khan’s biggest move in the role to date. It’s a clear sign that the Biden administration’s aggressive stance on promoting competition shows no signs of slowing down. 

NASA selected a number of private companies, including Blue Origin, to build the replacement for the International Space Station (ISS).

Some context: NASA launched the ISS over 20 years ago as a research hub in low Earth orbit. The agency has permission to continue sending flights up to the ISS until 2024, but will have to shut it down by 2030. NASA can opt to extend the lifespan of the ISS, but the space complex is getting old and risks damage from space debris. 

What happened: NASA began combing through proposals from private companies interested in building the successor to the ISS. Last week, NASA finalized its decision to award over $400 million in contracts to Blue Origin, Nanoracks, and Northrop Grumman to build a commercial space station. 

• Blue Origin's space park, dubbed Orbital Reef, could be used for research and tourism.

Why it’s happening: NASA started out by awarding small contracts to private companies back in 2006, and now has become more confident in working with private companies on much larger projects, like the ISS. Working with private companies on its spacecraft has also saved NASA up to $30 billion in costs. 

• This arrangement lets private companies, like Blue Origin use parts of the space complex for space tourism ventures, while NASA uses other parts for research purposes and only pays for the space it needs. 

Zoom out: Burgeoning private space companies, like SpaceX and Blue Origin, are starting to compete with the government’s hold on the US-$424 billion space economy. 

A Chinese state-run newspaper claims that Canada Goose might have broken consumer laws.

What happened: A state-run outlet picked up a story of a customer who couldn’t get a refund for a parka, and claimed that Canada Goose doesn’t offer refunds on its products in China, even though it does in other countries. 

• Back in September, China fined Canada Goose $90,000 for allegedly misleading customers about the material in their parkas. 

Why it’s happening: Canada Goose has had a difficult time in the Chinese market ever since it opened its first store there in 2018. China's continued hostility towards Canada Goose could be the result of heightened tensions between China and Canada. Other brands like H&M, Nike, and Dior have also had difficulties navigating a difficult political climate in China.

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Earnings: GameStop and Dollarama will release their quarterly results on Wednesday, Empire, Lululemon, and Transat on Thursday, and Oracle on Friday. 

Economy: The Bank of Canada will tell us whether or not its changing its key interest rate on Wednesday. Economists say that the central won't budge on its interest rate until next year. 

• Canada's Trade Minister Mary Ng prepares for an uphill battle on the Biden administration's EV tax credits that could disadvantage Canada's auto sector. 
  
  
• Workers at one of Canada's largest beef plants negotiated a new contract, avoiding a strike.
  
  
• Hackers stole over US-$196 million from cryptocurrency exchange Bitmart.
  
  
• Amazon is DYIng containers, and leasing its own aircraft to get around shipping jams.
  
  
• Meta is testing out feature to help users split bills on Facebook Messenger.

• Scientists reported 23 species extinct this year.

• The Atlantic: "The Rise of Déjà Zoom"

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• Video: the scientist who worked on Frozen shows us how snowflakes are desgined. 

• The rich history behind terrariums. 

• The Strategist: "The Best Gifts for Teenage Girls, According to Teenagers"

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