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The Peak Daily

The Peak / Curiouscast

Fast Canadian business news. Get up-to-speed quick with a fun and smart breakdown of the three biggest Canadian and global business stories in less than 10 minutes.

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#1089
Friday · 7 min
This time, it’s personal 🍔 - Another Canadian prediction market, McDonald’s gets personal with pricing.
Canada could soon get another regulated prediction market as Verdx seeks approval to offer event contracts to retail and institutional investors — though strict rules barring bets on politics and sports could make it difficult to lure users away from offshore platforms. Plus, McDonald’s is using AI to recommend different prices for the same menu items based on each location’s customer base, fuelling concerns that algorithmic pricing is shifting from charging more when demand spikes to calculating exactly how much individual customers will tolerate. And in The Big Picture: Canada Rocket Company unveils plans for a homegrown rival to SpaceX’s Falcon 9, rogue AI agents target Library and Archives Canada, the Paramount–Warner Bros. merger gets the green light, Ottawa designates a West Coast oil pipeline as a project of national interest, OpenAI cuts ties with researchers accused of leaking confidential information, Broadcom offers Anthropic up to US$42 billion in financing, and more. The Peak Daily is produced in partnership with reframevid.com
#1088
Thursday · 6 min
Miner threat ⛏️ - A Canadian mining project is in peril, OpenAI gets sued over rogue AI agents.
Panama is considering reopening First Quantum Minerals’ Cobre Panama copper mine — but only long enough to fund its eventual closure — dealing a major blow to one of Canada’s largest miners and adding pressure to an already tight global copper supply. Plus, OpenAI is facing a first-of-its-kind lawsuit over its agents’ rogue cyberattack on Hugging Face, a case that could help determine who is legally responsible when autonomous AI systems break the law or cause harm. And in The Lab a new global study finds that infections caused 12% of all new cancer cases in 2024, highlighting how vaccines, treatment, and earlier screening could prevent hundreds of thousands of cases. The Peak Daily is produced in partnership with reframevid.com
#1087
Wednesday · 8 min
You can’t spell apocalyptic without IPO 🧟‍♂️ - Anthropic’s doomy IPO prospectus, Canada’s financial crime regime needs work.
Anthropic is targeting a record-breaking $2 trillion valuation for its expected November IPO, even as its prospectus reveals staggering losses, soaring infrastructure costs, and warnings from CEO Dario Amodei that the technology could pose an existential risk to humanity. Plus, Canada earned a passing—but far from glowing—grade from the global anti-financial crime watchdog, avoiding the dreaded grey list while facing persistent weaknesses in prosecuting money laundering and regulating financial institutions. And in The Big Picture: LNG Canada approves a $33 billion expansion, Canada’s economy flatlines in July, Saskatchewan unveils plans for two nuclear reactors, the U.S. bans $1 billion worth of Canadian goods, Oura delays its IPO, Bell and Cisco team up on sovereign AI infrastructure, and more. The Peak Daily is produced in partnership with reframevid.com
#1086
Tuesday · 8 min
New unicorn 🦄 - Canada has a new billion-dollar AI company, Prada turns tourism operator.
Toronto-based Biossil has become Canada’s newest AI unicorn after raising US$153 million in a round led by OpenAI, betting that artificial intelligence can find new uses for drugs that failed in late-stage clinical trials — and potentially turn pharmaceutical castoffs into medical breakthroughs. Plus, luxury brands like Prada, Chanel, and Louis Vuitton are spending millions to take their wealthiest customers on exclusive trips and experiences, as a slowdown among aspirational shoppers pushes the industry to focus on the small group of buyers who account for an outsized share of sales. And in The Big Picture: Nvidia launches a tool to rein in rogue AI agents, Canada’s competition watchdog investigates grocery pricing policies, SpaceX sends its massive Starship rocket into orbit, Stelco lays off 350 workers, the FBI offers a US$1 million reward in the Nijjar case, the U.S. and China remove tariffs on billions in goods, and more. The Peak Daily is produced in partnership with reframevid.com
#1085
Monday · 7 min
Time out ⏰- OpenAI pauses training for its new models, China has cracked the 5-minute EV charger.
OpenAI has paused training on its most powerful models as it and Anthropic investigate tens of thousands of incidents involving rogue agents bypassing safeguards, escaping sandboxes, and taking actions they were never instructed to perform — raising fresh questions about whether even the industry’s top labs can reliably control frontier AI. Plus, China’s Geely has unveiled an EV battery that can charge from 10% to 70% in just four and a half minutes, giving Chinese automakers another edge over North American and European rivals as Canada’s battery sector struggles with delays and cancelled projects. And in The Big Picture: British police foil an alleged terrorist plot targeting a U.S. air base, Boeing faces scrutiny over a new 737 MAX software glitch, U.S.–Iran talks are set to resume, Apple is ordered to pay a record patent award, McDonald’s rolls out an AI drive-thru bot, and more. The Peak Daily is produced in partnership with reframevid.com
#1084
September 25 · 8 min
We’ll take it from here 👐- AI giants link up to regulate each other, Empire agrees to end property controls.
Three of the world’s biggest AI companies are forming their own safety group to set standards for frontier models, as a string of rogue-agent hacking incidents raises pressure on the industry to prove it can control the technology it is building. Plus, Empire has reached a legally binding deal to end property controls in its leases, opening more retail space to rival grocers and removing one barrier to competition — even if it won’t bring down grocery prices overnight. And in The Big Picture: Mark Carney says Canada’s shift away from the U.S. will outlast Donald Trump, Trump and Xi signal warmer relations, Cohere and Bell launch an AI cybersecurity model, Starbucks closes more locations, Flock Safety considers a sale, and more. The Peak Daily is produced in partnership with reframevid.com
#1083
September 24 · 9 min
Vouch for me 👍- LinkedIn rolls out features to fight fake profiles, Cineplex gets a new CEO.
LinkedIn is rolling out new tools to crack down on fake identities, bogus work histories, and invented credentials, including a feature that lets former colleagues and classmates vouch for one another and a way for companies to flag people falsely claiming employment. Plus, Cineplex has named Bill Walker as its new CEO and launched a strategic review that could lead to a sale, as a resurgent box office draws interest from foreign theatre chains and puts Canada’s dominant cinema operator in play. And in The Big Picture: Canada’s population growth falls to its slowest pace in more than a century, Meta reportedly uses human contractors to complete tasks for its Muse AI agent, Health Canada suspends a Grifols plasma collection site, the U.S. weighs a diesel export ban, Narendra Modi plans a trip to Canada, and more. The Peak Daily is produced in partnership with reframevid.com
#1082
September 23 · 8 min
High gear ⚙️- BlackBerry runs the auto software game, Helping companies break into defence.
BlackBerry’s comeback is shifting into high gear with a landmark US$100 million-plus deal for its new automotive software, a bet that the former smartphone giant can turn its foothold in connected vehicles into a much bigger business. Plus, Canadian defence accelerator Vimy Forge is teaming up with Toronto’s MaRS Discovery District to help startups navigate the costly, complicated process of selling to the military as Ottawa ramps up defence spending. And in The Big Picture: B.C. Premier David Eby calls a snap election, Ottawa offers Indigenous groups a stake in the Trans Mountain pipeline, OpenAI brings in outside evaluators to test model safety earlier, the U.S. plans new military bases in Greenland, Apple eyes a screenless fitness tracker, and more. The Peak Daily is produced in partnership with reframevid.com
#1081
September 22 · 8 min
Meet me in the middle 📍- Carney pushes his middle powers pitch, Greek discount chain comes to Canada.
Canada is rallying middle powers and developing countries around a new coalition aimed at strengthening cooperation on security, trade, AI, and global challenges — the latest step in Mark Carney’s push to build alliances that don’t revolve around Washington. Plus, Greek discount retailer Jumbo is opening its first Canadian store in Vaughan, joining a wave of international bargain chains betting that cost-conscious shoppers are hungry for more budget-friendly options. And in The Big Picture: Ottawa moves to fast-track major projects, B.C. sues OpenAI over its handling of violent ChatGPT conversations, Canada’s military taps domestic AI companies, U.S. states clear a hurdle for the Paramount–Warner Bros. Discovery merger, and more. The Peak Daily is produced in partnership with reframevid.com
#1080
September 21 · 6 min
Rock and roll 🤘- Newfoundland draws Hollywood productions, Parliament is back in action.
Newfoundland’s film and television industry is booming as Netflix’s Below becomes the latest Hollywood production to shoot in the province, bringing jobs, local spending, and the potential for a major tourism boost. Plus, Parliament returns with the Carney government preparing to fast-track major projects and overhaul federal labour laws — ambitious moves that could accelerate investment while provoking pushback from unions, Indigenous groups, environmental advocates, and local communities. And in The Big Picture: airport privatization could raise travel costs, Canada and France deepen their space partnership, European intelligence officials warn of a possible Russian attack on NATO territory, New Brunswick adds AI literacy to its school curriculum, Google’s Gemini reportedly breaks containment, tensions rise between the Houthis and Saudi Arabia, Germany’s AfD wins another state election, and more. The Peak Daily is produced in partnership with reframevid.com
#1079
September 18 · 7 min
📈 Mr. Carney goes to Strasbourg
Mark Carney lays out a bold vision for a new Canada–EU alliance — from seamless digital trade and critical minerals cooperation to shared AI safety protocols and sovereign compute. We’ll break down what “sovereignty” really means in this context, why Europe seems newly open to deeper partnership, and how Washington could respond. Then, daylight saving time edges closer to extinction: Manitoba joins a growing list of provinces and territories moving to permanent time, and with the U.S. debating a similar shift, Ontario and Quebec could be next. We dig into the real reasons DST has stuck around, and what the research says about the health and productivity costs of changing the clocks. Plus in The Big Picture: OpenAI flags concerning model behavior, EDC argues Canada needs more domestic processing to boost exports, and Stellantis labor tensions rise. The Peak Daily is produced in partnership with reframevid.com
#1078
September 17 · 7 min
📈 Get it together
Canada’s AI champion Cohere moves to scale up and stake its claim in “sovereign AI” by finalizing merger terms with Germany’s Aleph Alpha — a deal that could reshape the AI landscape. Plus, Salesforce launches an AI shopping agent as “agentic” commerce heats up and brands race to get recommended by chatbots. Also in the Big Picture: talk of Canada becoming the EU’s first “associate member,” the US Fed hikes rates for the first time in three years, and the projected cost of Alberta separation. The Peak Daily is produced in partnership with reframevid.com
#1077
September 16 · 7 min
📈 Super → Mega
In today’s episode of The Peak Daily, Jay breaks down Ottawa’s new “Productivity Mega Deduction” and what it could mean for major projects like pipelines, mines, data centres, and infrastructure. Then, Airbnb launches a $250M fund to help stalled multi-family rentals cross the finish line — amid ongoing debate over short-term rentals’ impact on housing affordability. Plus, in The Big Picture: Canada’s biggest airports open to private investment, Nvidia and Salesforce introduce a reasoning model built for business tasks, OpenAI explores Canada for future data centre partnerships, and more. New episodes daily — business news in under 10 minutes. The Peak Daily is produced in partnership with reframevid.com
#1076
September 15 · 7 min
Appetizers are served 🍤- The Investment Summit Gets Underway, Controlling AI
The first day of Canada’s Investment Summit brought a wave of new commitments from banks, investors, and businesses, offering early signs that Ottawa’s push to unlock as much as $1 trillion in capital may be gaining momentum — even if most of the pledges aren’t binding. Plus, Cohere CEO Aidan Gomez and a Chinese state-backed newspaper are pushing back against calls from Silicon Valley’s biggest AI companies to slow development, arguing that safety concerns could be used to entrench dominant firms and constrain their competitors. And in The Big Picture: Canada’s annual inflation rate holds at 3%, Africa’s largest-ever IPO is set to make Aliko Dangote even richer, Google adds AI-powered protections for Canadian minors, companies race to trademark “Elbows Up,” Kawhi Leonard’s return to the Raptors is finalized, and more. The Peak Daily is produced in partnership with reframevid.com
#1075
September 14 · 7 min
Taking it slow 🐢- AI companies hit the pause button, Carney’s investment summit kicks off.
AI’s biggest companies are pledging to slow the development of frontier models and open their systems to independent evaluators, an unprecedented attempt to keep increasingly powerful technology from outrunning the industry’s ability to control it. Plus, Mark Carney’s Canada Investment Summit will pitch more than 160 energy and infrastructure projects to hundreds of global investors, testing Ottawa’s plan to unlock up to $1 trillion in capital and kick-start a Canadian investment boom. And in The Big Picture: Donald Trump signals a Canada-U.S. trade deal could be close, Sweden’s centre-left bloc wins the parliamentary election, attacks shut down a key Saudi oil pipeline, Texas halts approvals for new data centres, Canadian boxing legend George Chuvalo dies at 89, and more. The Peak Daily is produced in partnership with reframevid.com
#1074
September 11 · 7 min
Order in the court 👩‍⚖️ - Canada’s courts want to stop throwing out cases, AI doomsday fears grow.
Canada’s Supreme Court is weighing whether judges can use alternative remedies instead of throwing out criminal cases when trials take too long, a change that could prevent thousands of cases from being stayed while still protecting defendants’ Charter rights. Plus, Anthropic says it blocked users — including state actors — from using its AI tools to develop weapons, spy on dissidents, and research biological threats, spotlighting the immediate danger of humans misusing today’s models amid growing fears about what future AI could do. And in The Big Picture: Mark Carney’s investment summit will pitch more than 160 projects, Canada and Ukraine sign a 100-year defence and trade pact, Iran reportedly resumes ballistic missile production, Ontario expands tariff relief, the Canadian Armed Forces undergo a major reorganization, and more. The Peak Daily is produced in partnership with reframevid.com
#1073
September 10 · 9 min
Alarm bells 🔔 - Ex-Anthropic employee gives grave AI warning, BMO comes for challenger banks.
Anthropic researchers are warning that frontier AI systems could pose an existential threat within the next decade, as concerns grow that models are nearing the ability to improve themselves while leading labs remain locked in a race to build them first. Plus, BMO will become the first of Canada’s Big Five banks to offer commission-free stock, options, and ETF trading, a bid to win younger investors and blunt the advantage enjoyed by digital brokerages and challenger banks. And in The Big Picture: Apple unveils its US$2,000 foldable iPhone, Unifor asks Ottawa to penalize companies that shift Canadian production to the U.S., Iran and the U.S. escalate attacks around the Strait of Hormuz, OpenAI adds a government AI safety adviser to its board, Enbridge nears a major pipeline deal, and more. The Peak Daily is produced in partnership with reframevid.com
#1072
September 9 · 7 min
Keep your friends close 🇪🇺 - Canada and the EU deepen ties, Standardized test scores take an alarming dip.
Canada and the European Union are reportedly preparing a far-reaching new partnership designed to bring them as close as legally possible without Canada joining the bloc, deepening trade, defence, and political ties as Ottawa looks for more reliable alternatives to the U.S. Plus, Canadian students’ math, reading, and science scores have fallen to their lowest levels ever measured by the OECD, with pandemic disruptions, social media, and heavy AI use all contributing to a decline that could weigh on future earnings. And in The Big Picture: Mark Carney warns Canadians of economic pain as retaliatory tariffs take effect, Houthi strikes on Saudi oil facilities escalate the Middle East conflict, and Meta launches a new AI agent for Instagram, Facebook, and WhatsApp. The Peak Daily is produced in partnership with reframevid.com
#1071
September 4 · 7 min
Choo choo 🛤️ - Via Rail is getting a makeover, Canada looks into Indian snack warehouse raids.
Ottawa is spending $4.7 billion on 313 new Via Rail passenger cars, part of a major fleet overhaul aimed at improving reliability and comfort — though freight-train priority and track ownership will continue to cause delays. Plus, Canadian food regulators are investigating an illegal relabelling operation in India after a bag of chips with an English-French label was found in a warehouse raid, raising concerns that expired products could be bound for Canada. And in The Big Picture: Ukraine’s former defence minister is launching a Palantir-backed defence tech startup that will use the country’s wartime experience to build technology for Ukraine and its allies. The Peak Daily is produced in partnership with reframevid.com
#1070
September 3 · 6 min
Trauma bond 📉 - Bond market troubles continue, Ontario fines SeatGeek under new ticket law.
Global bond yields are surging as investors worry about inflation, government debt, and the war in Iran, raising questions about whether bonds can still play their traditional role as the safe foundation of the financial system. Plus, Ontario has issued its first fine under a new anti-scalping law, but SeatGeek’s $25,000 penalty highlights how difficult it is to enforce a ban on ticket resales above face value. And in The Big Picture: OpenAI faces more lawsuits tied to the Tumbler Ridge shooting, the Bank of Canada holds its benchmark rate, Meta disables cameras on tampered smart glasses, Ottawa extends its fuel-tax holiday, Canadian Tire and Tim Hortons link loyalty programs, and more. The Peak Daily is produced in partnership with reframevid.com

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