Boomerang generation

Good morning. And happy 100th birthday to the voice of nature, David Attenborough. 

The British broadcaster and natural historian, who has lent his calming yet authoritative timbre to countless nature docs including Planet Earth, crossed the century mark today. It’s rare for a celebrity to not only live this long, but live this long and still be universally beloved.

To celebrate this momentous occasion, we recommend watching this clip from Planet Earth II: Islands, which, in our humble opinion, is the greatest scene in television history.

Today’s reading time is 5½ minutes.

Markets: Canada’s main stock index fell yesterday after hitting a two-week high the day prior as many investors looked to cash out on a high note ahead of today’s Canadian and U.S. jobs data releases.

Canada is increasingly a nation of 30-year-olds living in their parents' basement.

What happened: Canadians aged 25 to 39 — millennials, that means you — were twice as likely to live at home with their parents in 2021 compared to the same age group in 1991, according to a new report from Statistics Canada.

Why it’s happening: Unaffordable housing is mostly to blame. Even after adjusting for inflation, home prices nationwide increased by 142% between 1991 and 2021. 

Why it matters: In addition to being a potential source of intrafamily tension, young people crashing at home for longer is also connected to delays in their realization of traditional life milestones, like finding a partner and starting a family.

What’s next: It’s too soon to say for sure what housing fate awaits Gen Z, but so far they’re living at home at even higher rates than millennials.—TS

Ottawa is shutting down an Arctic naval facility. The federal government is scrapping the Nanisivik Naval Facility on northern Baffin Island, a base that was announced in 2007 but never began operations. The project was plagued by delays, cost overruns, and maintenance issues, and officials say it’s no longer needed for Canada’s Arctic operations.

The U.S. and Iran traded blows in the Persian Gulf. Iran attacked U.S. warships and the U.S. struck targets in Iran, but Donald Trump said the ceasefire between the two countries was still in effect. Both sides are still reportedly negotiating a framework that could reopen the Strait of Hormuz and form the basis of a peace deal. (BBC)

Trade court rules against Trump tariffs. A U.S. court ruled that Donald Trump’s 10% global tariffs are not legal, but blocked them only for the plaintiffs in the case — they will remain in place for everyone else while an expected appeal by the administration runs its course. (CBC News)

What else is on our radar:

Every day, people count on public services to access benefits, keep food safe, protect communities, and respond when disaster strikes.

But Prime Minister Carney’s government is cutting those services, leaving workers and their families who are already stretched thin, without support. The consequences are real: longer waits, growing backlogs, and greater uncertainty when support is needed most.

Great nations aren’t built through austerity – they’re built by investing in the public services people rely on and the workers who deliver them.

If this government is serious about a strong Canada, it should invest in strong, reliable public services.

For you, for your loved ones, for your community — For You, Canada.

Prediction market Kalshi raises US$1 billion at a $22 billion valuation. The Series F funding round was led by investment management firm Coatue Management, with participation from big names in the VC space like Sequoia Capital and Andreessen Horowitz. 

Why it matters: With this cash injection, Kalshi will look to move beyond catering to just individuals betting on the weather and municipal elections and firm up its place in the wider financial system. Kalshi is pitching its services to more institutional investors — trading by this segment has jumped 800% over the past six months, per the company.

Ontario could be getting a nuclear power plant that rivals even Springfield’s.

What happened: Ontario has paved the way to build what could be the world’s largest nuclear power plant, with the Crown corporation in charge of the province’s electricity market signing a cost-sharing pact with nuclear energy firm Bruce Power valued at ~$300 million. 

Zoom in: Dubbed Bruce C (not to be confused with horror icon Bruce Campbell), the plant will be Ontario’s first new large-scale nuclear project in 30 years. With a proposed nuclear capacity of up to 4,800 megawatts, the station could power as many as 4.8 million homes.

Why it matters: While Bruce C isn’t on Ottawa’s Major Projects roster, it could be the first of other large-scale nuclear buildouts that do make Ottawa’s special list. Last month, Energy Minister Tim Hodgson listed expanding nuclear energy as a top priority for the new office. 

Bottom line: As energy demand expands across the country — both from consumers and all those data centres — nuclear energy will increasingly be touted as a viable solution, though critics still argue that it's costly and impractical.—QH

🌎 Hint: This city sits atop the world's largest known gold reef, which transformed a dusty mining camp into a metropolis. The city also has a vibrant art scene, boasts sprawling markets, and serves as the gateway to the Cradle of Humankind — a UNESCO World Heritage Site where some of the oldest hominin fossils ever found were unearthed.

Think you know where this is? Lock in your guess here.

Know someone who's rewriting the rules, building something meaningful, or quietly becoming one of Canada's most important young business voices? Today is your last chance to put their name forward.

The Peak's Emerging Leaders program recognizes the driven Canadians under 40 who are shaping what business looks like next.

Nominate someone who deserves the spotlight, or throw your own hat in the ring. Nominations close tonight.

Submit your nomination here.

📈 42. Companies that materially contributed to the S&P 500’s performance last week, according to analysts at UBS — that’s a record low and a far cry from the typical average of 100. Of them, just five tech stocks — Alphabet, Nvidia, Amazon, Broadcom, and Apple — have accounted for more than half of the index’s recent gains.

Congratulations to the winners of last week's cartoon caption contest and thanks to everyone who submitted!

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And don’t forget the mini-crossword, the daily sudoku, Codebreaker, and Who’s Who!