Adidas wins patent fight with Nike… this time

While losing a case in the Supreme Court might sound like a big deal for most people, it’s just another day in the life of the world’s biggest footwear brands. 

What happened: The US Supreme Court has refused to hear a complaint by Nike in a  decade-long sneaker design dispute with its archrival Adidas, per Reuters.  

Should the “sandwich generation” let their kids struggle?

If you’ve been on the internet for more than three weeks, you’ve likely come across the phrase “Okay, Boomer.” We’ve been blaming baby boomers for a lot of stuff lately, but the truth is, they might be keeping entire families afloat. 

You’re telling me a robot made these drugs?

Have you heard about INS018_055? No, it’s not the name of Grimes and Elon Musk’s newest child. It’s a potentially groundbreaking AI-designed drug.  

What happened: Biotech company Insilico Medicine has moved to a phase two clinical trial (the stage determining an experimental drug’s efficacy) for its lung disease drug called INS018_055—a first for a drug that’s entirely “AI-discovered-and-designed.” 

Construction costs are sky-high

The cost of raising a roof is going through the roof. 

Driving the news: The average cost of building a home or apartment complex in 11 major Canadian cities was up 54% in the first three months of 2023 compared with the same timespan in 2019, per The Globe and Mail.

Fake meat isn’t meeting expectations

Even though it’s making headlines, lab-grown chicken is the least of the plant-based meat industry’s concerns right now. 

Driving the news: Plant-based meat is the latest victim of high-interest rates and inflation, with a rash of startups lining up for the slaughterhouse as investments dry up, production costs surge, and shoppers looking to cut grocery bills opt for the real, cheaper thing.  

Vladimir Putin had a chaotic weekend

When your colleagues ask how your weekend was, you can say, “Much more chill than Vladimir Putin’s, that’s for sure.”

Driving the news: Russia was engulfed by unrest over the weekend when mercenary leader Yevgeny Prigozhin led his Wagner Group troops to within a few-hours drive of Moscow before abruptly abandoning his mutiny and going into exile.

What to do this weekend

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

Canada’s accounting shake-up

This week, the groups representing accountants in Ontario and Quebéc told Canada’s national accounting organization, “it’s not you, it’s us… well, it’s also you.” 

Driving the news: CPA Ontario and Québec CPA Order have made the dramatic decision to withdraw from Chartered Professional Accountants of Canada, per The Globe and Mail. 

Chatbots help Indians sidestep red tape

Most of us use AI chatbots for mundane, day-to-day tasks like drafting memos or meal planning. But in India, they’re giving the nation’s poorest populations a leg up. 

Driving the news: A new wave of AI chatbots in India can help citizens seek legal justice, advice, and career support. One developer found that some people had given up on getting aid or information due to language barriers and bribe demands from government officials. 

Canada Bread ordered to pay record fine

If you thought 37$ chicken breasts were bad, just wait until we tell you about Canada Bread.

Driving the news: One of Canada’s biggest bread producers, Canada Bread, plead guilty to a years-long price inflation scheme unveiled by a Competition Bureau crackdown. The firm will be on the hook for a $50 million fine—the highest ever imposed by a Canadian court. 

What happens when no one wants oil?

A new report about the future of Canada’s energy sector begs the question: What are we going to sell in a world where nobody wants oil? 

Driving the news: For the first time, Canada’s national energy regulator looked into what would happen to Canadian oil and gas revenues if the world met its net-zero goals. While plenty of countries are still more than happy to buy Canada’s oil—for now, at least—the report shows the country’s oil production could plummet 76% below 2022 levels by 2050. 

The fight of the century: Musk vs. Zuck

Standing in this corner, coming in at 6 foot 1, 200 pounds. The Pride of Pretoria. The Man With a Million Titles. Twitter owner Elooooooon Musk! 

And in this corner, coming in at 5 foot 6, 155 pounds. The Master of the Metaverse. The Harvard Haymaker. Meta CEO Maaaaark Zuckerberg!  

What happened: Elon Musk and Mark Zuckerberg have agreed to a cage fight. No, this isn’t a story from an abandoned April Fool’s edition, but somehow the actual reality we’re living in.

The stock market is getting very top-heavy

Are we setting ourselves up for another 90s dot-com market bust? A gap between the top ten S&P 500 stocks and the other 490 has some experts worried that investors are putting all their investment eggs into too tech-centric of a basket. 

Sub search turns up empty

Fears are growing that time has run out for the missing submersible Titan and its five passengers.

The latest: The search-and-rescue mission underway in the North Atlantic has yet to find the vessel, and US Coast Guard officials say its air supply will likely be gone around 6 am Eastern time.

A sweet tooth, in this economy?

Today in not-so-sweet news, the price of your favourite grocery impulse buy is on its way up. 

Driving the news: Cocoa prices have been steadily climbing as the demand for chocolate’s main ingredient outstrips supply. Cocoa futures—the pricing mechanism used to determine what to pay cocoa farmers—are up ~21% so far this year.

The IMF has some advice for Canada

Are moviegoers tired of Pixar and superheroes?

Twin box office flops this past weekend involving pillars of modern moviegoing—Pixar and superheroes—paint a concerning picture for studio execs trying to get butts in theatre seats.

What happened: Pixar’s Elemental had the worst opening weekend ever in Canada and the US for the fabled animator, earning just US$29.5 million on a $200 million budget. DC’s latest The Flash also disappointed, falling ~$15 million short of the studio’s expectations. 

Ozempic ads are here, there, and everywhere

You’ve probably heard of Ozempic—the diabetes drug that has become a fave of celebs and border-hopping Americans for its weight loss capabilities—because it’s literally everywhere. 

Driving the news: From sports to social media, advertisements for pharma giant Novo Nordisk’s smash hit are inescapable, which has left some medical professionals worried about a wave of overprescriptions, leading to shortages and an uptick in nasty side effects.

Publishers want Big Tech to pay up

Big Tech is learning (the hard way) that the internet isn’t one big free for all. 

Driving the news: Several tech companies, including OpenAI and Google, want to gain access to content from the world’s biggest news outlets to help train the language models behind their popular chatbots, ChatGPT and Bard, per the Financial Times.  

What will central banks do next?

About a year into their bare-knuckle brawl against inflation, the world’s central banks have found themselves in the middle of the least fun game of ‘would you rather’ ever. 

Driving the news: Central bankers across the world are making like degenerate gamblers and hammering the over on inflation, prepping for further interest rate hikes as they bet prices will stay elevated even as red-hot food and energy costs have cooled, per The WSJ.