First class

Good morning. Depending on what side of the generational divide you sit on, the name The Littlest Hobo either evokes fond memories sitting in front of the TV set or elicits confusion, and perhaps images of a scruffy vagabond with a bindle shrunk down to the size of a bug. 

For those unfamiliar, it refers to a Canadian television show about a wandering, ownerless German Shepherd who helps people in need. Now, Seth Rogen and his longtime creative partner Evan Goldberg are rebooting it as a new series that will stream on Crave. 

We hope that either a crossover episode with The Studio or Heated Rivalry is in the works.

Today’s reading time is 5 minutes.

Markets: Canada’s main stock index rebounded yesterday, hitting its second record closing high of the week, thanks to higher gold prices and positive investor sentiment regarding economic data and Middle East peace prospects.

In a year that’s seen soaring fuel costs, a deadly crash, and angering Quebec to the point that its CEO decided to retire, Air Canada is hoping its new jet can deliver a W. 

What happened: Air Canada showcased its first A321XLR plane from Airbus ahead of its maiden commercial voyage next week. The single-aisle aircraft consumes 20% less fuel than its predecessor and can fly up to 4,700 nautical miles, meaning AC can use it to launch more routes to Europe and South America, which are growing in demand, at a lower cost.

Why it matters: Fuel efficiency and more routes are nice, but the main goal of these new planes is premium offerings. The A321XLR is introducing an upgraded version of business class with 14 lie-flat seats, and the new Dreamliners’ business classes are even fancier. 

Zoom out: This trend holds true for the aviation industry writ large. Business class has long made up the bulk of airline trip revenue, but the growing economic divide has now made it an even bigger focus. —QH 

Ottawa unveils its $2.3 billion AI strategy. Prime Minister Mark Carney released the long-awaited federal AI strategy that includes funding for homegrown startups, AI literacy training for Canadians, and more AI infrastructure investments through the feds’ new sovereign wealth fund. One line item that stood out: The government will "provide access to trusted AI agents for every post-secondary student." If only the AI agents could go to class for the kids, too! (CBC News)

SpaceX sets its target valuation at US$1.77 trillion. The company officially set its terms for next week's public offering, which will offer up 555,555,555 shares at $135 each (strangely specific). At that price, SpaceX will have doubled its valuation from six months ago to $1.77 trillion. The IPO, which is expected on June 12, will almost certainly be the largest public offering of all time. (Wall Street Journal)

The U.S. House voted to stop the war in Iran. Four Republicans voted in favour of a war powers resolution that would end the military intervention in Iran, joining Democrats in a rare rebuke of President Trump’s foreign policy. The resolution is unlikely to pass the Senate, but it does represent a symbolic and legal step to prevent further military action in the region. Meanwhile, the militant group Hezbollah has rejected a U.S.-mediated ceasefire deal that both the Israeli and Lebanese governments agreed to. (BBC News)

📡 What else is on our radar: 

Five years in, our inaugural Launchpad Companies spotlight the workplaces producing Canada's best emerging talent, and Burson made the cut in a big way, landing four names on this year's Emerging Leaders List.

This is proof of a culture that backs young talent and empowers them to lead work that sets the standard across Canada. Congrats to:

Congratulations to all four, and to Burson, one of the first names on our Launchpad list.

Berkshire Hathaway pulled off a pair of megadeals this week. The behemoth holding company bought U.S. homebuilder Taylor Morrison Home for US$6.8 billion, and agreed to make a $10 billion share purchase of Google parent company Alphabet. 

Why it matters: The two deals, which came within a couple of days of each other, are among the biggest deals that Berkshire has closed in recent years (after quietly sitting on the sidelines and building up a more than US$380 billion cash stockpile). They’re also the first significant deals made under new Canadian-born CEO Greg Abel, who has been working to win over shareholders since taking over for the legendary Warren Buffett in January.

In the spirit of David Foster Wallace, Canada's seafood capital is asking its youngsters to consider the lobster. 

Driving the news: Nova Scotia is launching a new school program this fall that will teach students in grades 7 to 12 all about the province’s seafood industry, part of an effort to get more young people interested in fishery careers. 

Catch-up: As Canada's top seafood exporter, fishing is big business in Nova Scotia. Last year, the province’s seafood exports, including lobster, shellfish, and its world-famous Digby scallops, hit ~$2.2 billion. 

Why it matters: Many of Nova Scotia’s ~19,000 seafood industry workers are nearing retirement age, and the province desperately needs some youngsters to take the reins. One industry report estimated that Atlantic Canada will need 7,500 new workers to fill vacancies in the fisheries industry by 2030. 

Zoom out: Nova Scotia is one of only three provinces that actually sees interprovincial migration gains, but it has historically struggled to keep its young people from leaving (especially after post-secondary). Getting students excited about their career prospects at home — whether it's in fishing or not — is a crucial piece to solving that puzzle.—LA 

🌎 Hint: Once a small fishing village, this coastal town has grown into one of Europe’s most popular summer destinations, attracting visitors with fresh seafood, vibrant beach bars, and a historic old town of whitewashed buildings. It’s famous for its boat trips to sea caves and hidden coves, and gets 300 days of sunshine a year. 

Think you have an idea where we took you this week? Lock in your guess here.

🇨🇭 10 million. Population cap that Switzerland is proposing, a policy that citizens will vote on next week. Many Swiss locals have blamed rapid population growth for rising housing prices and strained public infrastructure, with some recent opinion surveys suggesting the referendum could succeed. 

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Then, keep the good times going with today’s mini-crossword, the daily sudoku, Codebreaker, and Who’s Who!