Indigenous investing is on the rise

Just like a space probe hurtling through deep space, Indigenous investing is only going up.

What happened: The First Nations Bank of Canada — the largest Indigenous-owned bank in the country — announced a plan to raise as much as $50 million to reach more customers, expand its capital by as much as 50%, and double its loan book to $600 million.  

The fight over TikTok is just the beginning

Scientists enlist millions of gamers as research assistants

The human gut has a big impact on someone’s health, but exactly what that looks like is dictated by interactions between trillions of microbes that change drastically based on diet and lifestyle. All of those different variables can make researching it really complicated.

Not everyone is mad about the capital gains tax

No one gets stoked about taxes, but that doesn't mean it’s all doom and gloom in the tech sector right now.

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.

Uber pulls up to Newfoundland

Break out the bottle of Screech and reel in a kissable cod because Newfoundland has a new resident: Uber.

What happened: Uber is now servicing St. John’s, Newfoundland's largest city, and the accompanying Avalon Peninsula area. It is the first ride-sharing company to operate on the Rock since the province updated its Highway Traffic Act late last year to support such services. 

Can the competition watchdog get its groove back?

Canada’s competition watchdog is looking to regain its mojo after face-planting in its attempt to block a merger between Rogers and Shaw last year.

What happened: The Competition Bureau issued a report warning that Bunge’s impending US$8.2 billion acquisition of fellow agriculture company Viterra will seriously reduce competition in Canada’s agricultural sector, particularly in the grain and canola oil markets.

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. 

Sit, roll over, stay, choose your legal guardian

New laws in B.C. regarding pet custody are further proof that pets really are the new kids.

Driving the news: A provincial court ordered that custody of a golden retriever named Stella must be split week-to-week between her two owners who had broken up. It’s a landmark first ruling under new B.C. laws designating pets as family members, not property, in separation cases.

Québec Amazon warehouse attempts to unionize

Things coming to Canada this year: Shake Shack, the Eras Tour, and… a unionized Amazon warehouse? 

What happened: The DXT4 Amazon warehouse in Laval, Québec, could soon be the first in Canada to unionize after the Confédération des syndicats nationaux (CSN) — one of Québec's largest trade union federations — filed an application to represent 200 workers there.

A novel theory about the economy suggests rates need to come down to beat inflation

Central banks have a simple formula for fighting inflation: raise interest rates, wait for the economy to weaken and demand to fall, and inflation will soon follow suit. 

What if the formula is wrong?

Catch up: Some experts are making the case that higher interest rates are now driving stubborn inflation that’s sticking around both in the U.S. and Canada.

Feds pitch reluctant global grocery chains on move to Canada

The federal government is sending out invites asking foreign grocery chains to come to Canada, but like a sad birthday party, it’s doubtful anyone will show up.

Catch-up: Canada’s Industry Minister is trying to lure 12 different foreign grocery chains to set up shop in the Great White North, part of an effort to increase competition in the grocery sector, per The Wall Street Journal.

TikTok ban bill gets a shot in the arm

The TikTok bill is moving along with a tried-and-true strategy in U.S. politics: group a contentious bill with a bunch of unrelated stuff that’s more likely to pass. 

What happened: Tonight, the U.S. House of Representatives is expected to take another run at a bill that would force TikTok’s Chinese parent company, ByteDance, to divest the app or face a ban. 

Dan Skilleter on wealth inequality in Canada

 On this week’s episode of Free Lunch by The Peak, we sat down with Dan Skilleter from Social Capital Partners to talk about why Canada isn't that much more equal than the U.S.  

What to do this weekend

Swiss neutrality faces new tests

Switzerland is famous for keeping its nose out of the business of other countries, but some citizens are worried it’s starting to pick sides. 

What happened: Swiss parliament voted against joining an international task force to enforce sanctions against Russia. The decision comes as lawmakers and citizens grapple with what it means to be a neutral country in an increasingly tense Europe.

Meta’s new AI is about to be everywhere

Don’t get distracted by Mark Zuckerberg’s new look — Meta’s AI news is worth paying attention to.

Explain It Like I'm Five: Bitcoin halving

Halving is when the amount of bitcoin awarded for mining is cut in half. Mining is a metaphor for how bitcoin goes into circulation — put simply, computers run formulas to verify the code that keeps bitcoin transactions secure, and get shiny new bitcoin as a reward for their work. The reward is currently 6.25 bitcoin and will be cut to 3.125.

Hey, what’s going on at LinkedIn?

It’s easy to mock LinkedIn for its “hustle culture” posts and toxic corporate positivity, but that’s exactly what’s making the company a lot of money. 

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.