No house, no payments

Don’t get any ideas, but homeowners in China are boycotting their mortgage payments. 

High natural gas prices? Where?

The demand for natural gas has soared this year, but producers in Alberta have been unable to capitalize on higher prices (and are seeing billions lost in revenue). 

Unions want more money

Last month, Bank of Canada (BoC) Governor Tiff “T-Mack” Macklem pissed off quite a few people after telling business leaders to avoid adjusting wages to keep up with inflation.

Airbnb’s new party-pooping technology

Airbnb is introducing a new weapon in its war against fun by rolling out “anti-party technology” across Canada and the US. 

Zellers gets back to business

Almost a decade after Zellers left suburban malls across the country sitting empty, Hudson’s Bay Company (HBC) is looking to launch its Canadian discount chain back into relevance.

Canada looks to cash in on critical minerals

A lowkey provision of the recent US landmark climate bill could be a highkey win for Canada. 

Lab-grown diamonds are shining

Pandora, the world’s largest jewelry maker, is launching its first collection featuring lab-grown diamonds in Canada and the US, available later this month.

Gas prices pull back inflation

Inflation may have peaked, but still remains “far too high” according to a new op-ed penned by the Bank of Canada (BoC) Governor Tiff Macklem. 

China taps into tech algorithms

Some of China’s biggest tech companies, including ByteDance and Alibaba, have shared the inner workings of their algorithms with the Chinese government. 

Adam Neumann’s latest venture

If Jared Leto plays you in a mini-series, chances are your life has gone off the rails. That’s true of WeWork founder Adam Neumann, who oversaw the company’s disastrous IPO

But against all odds, he’s back at it again and bagging big funding.

Headlines from China

There’s so much important China news today but our job is to get you up to speed fast, so we’ve put together a rundown of what’s happening in the region and why it matters for the global economy. 

Get ready to see more iAdvertising

What is the one thing you’re missing on your Apple devices?

If you said “a headphone jack,” you’re unfortunately out of luck. But if “more advertising” is an idea that gets you jazzed, then we have good news: Apple is preparing to beef up its ad business and could roll out more placements across pre-installed apps like Maps, Books, and Podcasts.

Why it matters: Premium products, not advertising, have been Apple’s bread and butter since Steve Jobs set the company’s direction in the late 1990s. Expanding its ad business would be a significant shift in Apple’s strategy.

Canadian rents return to pre-pandemic highs

Sure, it may be very expensive to buy a home in Canada, but don’t forget it’s also very expensive to rent one—and getting pricier every month, as average rents across the country have returned to their pre-pandemic high of nearly $2,000, according to new data from Rentals.ca.

Why it’s happening: The reversal of two pandemic-era trends—the flight from cities and rock-bottom interest rates—is driving the rent surge.

Northern struggles with food insecurity

The global food crisis wreaking havoc on the world’s poorest nations is also taking its toll on Canada’s most remote northern communities.

Next round is on the groom

As the post-pandemic wedding boom picks up in Canada, so are bachelor and bachelorette festivities. The only problem? They’ve become more expensive than ever (thanks, inflation). 

Temporary help wanted

As Canadian employers face the lowest unemployment rate in decades, they’re moving to fill roles with temporary foreign workers (or TFW, for short), per The Globe and Mail. 

The housing correction picks up pace

The Canadian housing prices will fall by ~25% from recent all-time highs by the end of next year, according to a new report from Desjardins.

The CPPIB’s last quarter could have been worse

The Canada Pension Plan Investment Board (CPPIB) posted a loss of 4.2% last quarter, or roughly $16 billion—that sounds bad, but it actually outperformed the market (the S&P/TSX Composite Index fell nearly 9% in the same time frame) and other Canadian pension plans.

Russian oil is doing just fine

When Russia invaded Ukraine back in February, sanctions sounded like the right idea: Squeeze Russia’s economy until the fallout renders it unable to continue fighting the war.

But in reality, things have played out a little bit differently.