Canada is all in on EV battery production

Some folks collect baseball cards or stamps. Canada is collecting EV battery plants.

What happened: Swedish electric vehicle (EV) battery maker Northvolt — which has supply deals with BMW and Volkswagen — has secured the largest private investment in Quebec history to build a $7 billion factory near Montréal. 

The hottest tech launch of the fall

Apple’s iPhone 15 is officially the hottest release of the fall. And no, we’re not talking about its lightweight frame, USB 3.2 port, and exciting new button… 

What happened: One week after the release of the latest iPhone models, thousands of customers are reporting their phones are literally too hot to handle. The overheating issues seemingly affect Apple’s premium iPhone 15 Pro and Pro Max models, not the base model.

Why is Costco selling gold bars?

A 10-kg bucket of peanut butter. A box of 204 frozen croissants. A 24-karat gold bar. What do all of these items have in common? You can buy them all at Costco. 

Driving the news: Costco is now selling one-ounce gold bars online, and they’re getting picked up at a speed usually reserved for Taylor Swift tickets and new Air Jordans. On a recent earnings call, Costco CFO Richard Galanti said new bars typically sell out in hours.

The best travel hack is to plan ahead

If you’re looking to escape the frozen tundra that is winter in Canada (at a reasonable price), there are a few things you should keep in mind.

Driving the news: With Black Friday and Cyber Monday coming up in November, travel deals will be among the many savings on full display. But outside of those big flash sales, saving money on your travel always comes down to a couple of key factors, per The Globe and Mail.

Buy a beer from Amazon in seconds

Amazon’s new check-out concept means Canadian sports fans will still pay $13 for a beer, but at least they won’t have to wait in line for it. 

Driving the news: Just Walk Out, Amazon's checkout-free shopping system, is coming to Canada later this fall, with the technology rolling out at stadiums in Toronto and Calgary.

Hollywood writers go back to work

Do you hear that? It’s the sound of keyboards clacking, pens scribbling, and overpriced latte orders echoing across the Sunset Strip... which can only mean Hollywood writers are back. 

What happened: After 148 days on the picket line, Hollywood writers are returning to the word factory today after board members of the Writer’s Guild of America (WGA) voted to ratify a new collective bargaining agreement with studios and streamers.

Canadian tech agrees to AI code of conduct

While not quite as star-studded at the White House’s AI summit, the who’s who of Canadian tech companies have agreed to new rules concerning AI. 

What happened: A handful of Canada’s biggest tech companies, including Blackberry, OpenText, and Cohere, agreed to sign on to new voluntary government guidelines for the development of AI technologies and a “robust, responsible AI ecosystem in Canada.”

The FTC challenges Amazon

The FTC surely must be inspired by the story of David and Goliath, because the US regulatory body won’t stop picking fights with tech giants. 

What happened: The US Federal Trade Commission (FTC), alongside 17 states, has filed an antitrust lawsuit against Amazon, claiming the company is a monopoly that illegally crushes its competition, keeps prices inflated for consumers, and traps third-party sellers.  

Canada courts digital nomads

Picture the life of a digital nomad: You’re probably thinking of oceanfront workplaces, rainforest yoga, and drinking out of coconuts. But what about just heading to Toronto?

Driving the news: Per Bloomberg, the list of picturesque destinations cutting the red tape and offering remote work visa schemes is growing, including places like Barbados, Portugal, and Germany. Some are even extending visas in hopes of boosting business and innovation. 

The supershoe footrace heats up

The saddest six-word story ever written: For sale, $500 shoes, worn once.

What happened: The Adizero Adios Pro Evo 1s are now on sale. They’re Adidas’ newest running shoes, which runner Tigist Assefa wore when she shattered the women’s world marathon record last weekend. The price tag for these record-setting sneaks? US$500.

Are more strikes on the horizon?

As the calendar turns and labour unrest in Canada continues, the Summer of Strikes is evolving into the Autumn of Arbitration (which is way less catchy, but just as important). 

Driving the news: Per a new RBC report, amidst a surge of high-profile strikes, first-year raises for union workers are up 7.1% as of July — the highest rate since the early 1990s.

No recycled Lego bricks

The world’s largest toymaker is having a hard time making its little bricks eco-friendly. 

What happened: Danish Toymaker Lego has abandoned a high-profile effort to ditch oil-based plastics from its bricks after finding that its new material — made from recycled plastic bottles — would lead to higher carbon emissions, per the Financial Times.

ChatGPT finds its voice

OpenAI's latest ChatGPT update bestows the AI chatbot with the gifts of speech and sight.

What happened: ChatGPT can now converse with users — across five chipper voice options — and process images to help answer questions. The features will be available to paid users within two weeks and to those of us who are AI freeloaders in the near future.

New space rocks just dropped

Unlike many of us coming home from holiday, NASA remembered to bring back souvenirs from its latest trip.

Driving the news: The largest asteroid sample ever brought back to Earth touched down Sunday morning when NASA’s OSIRIS-REx capsule returned from a 7-year trip—a mission Canada played a crucial role in. 

Ford workers win big pay bump

Big congrats to anyone who works for Ford on your big raise. Next round is on you!

Driving the news: Workers at Ford’s Canadian facilities voted to ratify a deal negotiated between their union, Unifor, and the automaker that includes a 15% wage increase over the next three years.

What to this weekend

Our picks for what to eat, read, watch, and listen to this weekend.

Brendon Bernard on Canada’s labour market

On this week’s episode of Free Lunch by The Peak, we sat down with Brendon Bedard, Senior Economist at Indeed, to talk about the weakening labour market, and what it means.

NFTs are dead, long live NFTs

If you were kicking yourself last year for not getting in on the NFT craze, we’ve got good news... but if you have a stockpile of Bored Apes collecting digital dust, maybe skip to the Saturday crossword. 

Driving the news: A new report from crypto company dappGambl found that ~95% of all NFTs are now essentially worthless, with ~23 million people holding onto these “assets.”

TikTok plays matchmaker for its employees

Do NOT show your HR manager this: In China, companies are adding “helping you find your one true love” to their benefits packages, alongside dental coverage and vacation time.  

Driving the news: Forbes unveiled that TikTok parent company ByteDance has an internal channel on its shared work tool called Meet Cute. It lets employees post photos of friends, family, and acquaintances and advertise them as potential romantic partners to co-workers.

Alberta wants to ditch the CPP

Like Zayn Malik leaving One Direction, Alberta wants to break away from Canada’s national pension plan.

What happened: Alberta is looking to leave the Canadian Pension Plan (CPP) and establish its own provincial pension fund after a long-awaited report claimed the province would be entitled to a $334 billion asset transfer if it left in 2027 — over half of the CPP’s entire assets.