Sarah Bartnicka

A $43B bid to become the world’s largest copper miner

If you’re anything like us, you’re probably not that well-versed in the business and legal drama that’s engulfed the global mining industry in recent days, but the proposed takeover of miner Anglo American by competitor BHP is a US$43 billion story worth paying attention to. 

What happened: BHP, an Australian miner, is attempting to buy Anglo American, a British miner, in a bid to create the world's largest copper miner.

New mortgage rules for first-time home buyers

Today on “keeping up with federal budget announcements coming out weeks before the actual federal budget announcement” is a policy change covering housing affordability.  

What happened: Canada is rolling out new housing affordability measures for first-time homebuyers, including extending maximum mortgage amortizations to 30 years and increasing the amount that can be withdrawn from an RRSP to buy a first home to $60,000.

Canada holds interest rates steady

Let your friends with variable-rate mortgages know you’re thinking of them this week.

What happened: As expected, the Bank of Canada held the policy rate steady at 5% for the sixth consecutive meeting, noting that "inflation is still too high and risks remain" in the form of a resilient growth forecast, even though both inflation and the labour market are cooling.

Your bank is all in on AI

Artificial intelligence is coming to your mobile banking apps in a big way (unless you bank with Laurentian, or something). 

What happened: Three of Canada’s Big Five banks were ranked within the top 10 globally for AI innovation by Evident Insights, which crunched the numbers on AI-related research papers and patent filings as well as investments in AI startups over the last five months.  

The solar eclipse economy is booming

Total Solar Eclipse 2024: A once-in-a-lifetime chance to witness the celestial event, and a great excuse to stick an Oreo on a doughnut and charge extra for it.

Driving the news: On Monday, the sun will disappear behind the moon for roughly four minutes, spanning parts of Ontario, Québec, New Brunswick, P.E.I., Nova Scotia, and Newfoundland and Labrador. People are excited, and the eclipse business is booming. 

Disney wins its boardroom battle

Disney can return to making magic after showing its critics that Bob Iger is here to stay.  

What happened: One of the world’s most important entertainment companies and its CEO Bob Iger prevailed in a boardroom battle against the activist investor Nelson Peltz, marking the end of a dramatic (and expensive) campaign to secure the confidence of shareholders. 

Trump’s legal costs pile up

Donald Trump claims he has almost “$500 million in cash” at his disposal, which sounds like a lot until you realize what the guy is forking over in legal fees. 

What happened: Yesterday, investors approved a plan to take Trump’s struggling social media business public next week, which would unlock a potential US$3 billion windfall for the former U.S. president as he looks to drum up cash to cover his massive legal costs. 

Young Canadians are not OK

Money can’t buy happiness. But enough of it can buy you a home, which we’re slowly learning is pretty much the same thing. 

What happened: This year’s rankings of the world’s happiest countries revealed that while Canada is still one of the happiest in the world — ranking 15th overall — the happiness gap between younger and older populations is the widest seen in every country on the list.

Russians head to the polls this weekend

The Russian election is perhaps the only one this year for which the results had been reported well before the first ballots had been cast. 

Driving the news: People in Russia and occupied Ukraine are heading to the polls this weekend to vote in the national election, but given the lack of genuine opposition to current President Vladimir Putin, the Russian leader is all but guaranteed another six years in power. 

Ireland to vote on changing womens’ duties

Of all the days to decide how the constitution should define the duties of women in society, Irish voters headed to the polls on International Women’s Day to cast their votes. 

Driving the news: Yesterday’s referendum posed two questions to citizens — to vote “yes” or “no” to loosen the definition of family and to remove references to a woman’s role being solely as a caregiver within the home, long seen as crucial to the “common good” of society.  

Israel releases a post-war plan for Gaza

Nearly five months into a war between Israel and Hamas, officials in Israel, Egypt, the U.S., and Qatar are struggling to move towards a solution. 

What happened: Israeli Prime Minister Benjamin Netanyahu has put forward a post-war blueprint for Gaza that calls for an indefinite Israeli security presence in the enclave.

America’s economy keeps booming

We’ve said it once and we’ll say it again: Even if it defies all logic, never underestimate the strength of the U.S. economy. 

What happened: The American economy created 353,000 jobs in January, which was *checks notes* roughly double the number expected by economists. Tom Simons, U.S. economist at Jefferies, told the Financial Times the data left him “near speechless.”