Fishy business

Good morning. It’s our favourite day of the year here at Peak HQ. No, Christmas hasn’t come early — we’re of course talking about the launch of the 2026 Emerging Leaders list! 

Check out all of this year’s honourees and see the up-and-coming young go-getters ready to shape Canada’s economy, culture, and society.

Today’s reading time is 5½ minutes.

Earnings to watch: AI darling Broadcom will report its results on Wednesday, while Lululemon — which recently reached an agreement with its founder and activist shareholder, Chip Wilson, to appoint two new board members — will hold its earnings call after the bell on Thursday.

It’s a settled matter that now is not a good time to be an entry-level worker, but contrary to popular belief, that may not be the fault of AI.

What happened: A new paper argues that the rise of remote work is more to blame than AI for the pullback in hiring of entry-level knowledge workers. 

Why it’s happening: The authors theorize that employers are reluctant to hire entry-level workers for remote jobs, as it’s more difficult to train and manage them. In this telling, employers would rather hire someone more senior for remote jobs than struggle trying to get a junior hire up to speed through Zoom calls and Slack messages.

Why it matters: Remote work has its appeals, like avoiding stressful commutes and saving money on lunches, but it may be hurting the career prospects of younger workers.

Yes, but: The researchers don’t claim that AI won’t also hurt younger workers, only that it’s premature to blame the technology for the lousy job market they’re currently experiencing.—TS

Ottawa is reportedly planning to buy 60 Swedish Gripen fighter jets. According to a report by La Presse, the federal government will purchase 60 of Saab’s Gripen fighter aircraft. Ottawa is already in negotiations with Saab to buy its GlobalEye surveillance jet. If Ottawa buys the Gripens as well, the Swedish defence giant has reportedly committed to manufacturing the aircraft in Canada, which could create around 9,000 new jobs. (La Presse) 

B.C. Conservatives elect Kerry-Lynne Findlay as the party’s new leader. After four ballots, Findlay was elected as the Conservatives’ new leader with 51% of the vote, narrowly defeating Caroline Elliott. Findlay is a lawyer and served under former prime minister Stephen Harper as the minister of national revenue. The Conservatives nearly won the last provincial election in 2024, but internal rifts over the party’s direction have since shrunk the caucus from 44 members to 39. (CBC News)

Wildfires break out across the Alberta oil sands. Alberta Wildfire says there are currently six out-of-control blazes in the Lac la Biche region, where many of the province's oil sands are concentrated. At one point last summer, wildfires in the province shut down about 7% of Canada's oil production. No evacuations have been made as of writing, but residents in the town of Conklin have been told to prepare to evacuate. (Bloomberg News)

What else is on our radar: 

For the sixth year running, we set out to find the next generation of leaders shaping Canada; and this year's class reflects the full range of what that means.

The Peak’s 2026 Emerging Leaders List is live. Across 14 categories spanning AI to social impact, healthcare to public affairs, we've spotlighted the bold, driven, and quietly brilliant people building something worth watching.

They were nominated by peers, then vetted, and chosen because their work speaks for itself.

This year's honourees span the country and represent a generation redefining leadership, in startups and city halls, research labs and courtrooms, boardrooms and non-profits.

Explore the full class and meet the people making moves across Canada. And if someone in your orbit is already doing the kind of work that turns heads? File that away for next year, they could be on next years Emerging Leaders list!

Meet the 2026 Emerging Leaders

🤖 Feds to unveil new AI strategy. Mark Carney said his government’s national AI strategy will be released this week after several delays. In its spring economic update, Ottawa announced six pillars of its AI policy but these were light on details, and has also said AI training, privacy, and sovereignty will be priorities. So far, the federal government’s largest AI program is its Sovereign AI Compute Strategy, which sets aside $2 billion over five years to expand domestic compute infrastructure, like data centres.

📊 New jobs numbers. The latest employment data from StatsCan arrives on Friday and is expected to show the unemployment rate holding steady around the 6.9% mark. A weak start to the year for the economy could weigh on hiring, but the labour market has been fairly resilient so far outside of sectors affected by U.S. tariffs. Speaking of the U.S., the latest JOLTS report tomorrow is expected to show the unemployment rate south of the border remaining at multi-year lows.

🏆 Finals in the NHL and NBA. The Stanley Cup Final begins tomorrow between the Carolina Hurricanes and the Vegas Golden Knights. The Hurricanes are betting favourites to win, having lost just one game this postseason, but the Golden Knights are no pushovers (and — much to the chagrin of Leafs fans — have the postseason points leader in ex-Leafs star Mitch Marner). Meanwhile, the NBA Finals tip off on Wednesday between the New York Knicks and San Antonio Spurs. The Knicks have won 11 games in a row now and swept their last two playoff series, but are still underdogs against the Spurs, led by 7’4” Victor Wembanyama. And if that isn’t enough sports for you, the French Open wraps up on the weekend. 

A food once reserved for grandparents, soldiers, and doomsday survivalists suddenly has a cult following. 

Driving the news: Demand for sardines has skyrocketed over the past year, driven by viral videos touting the little fishes' health benefits and low cost. Searches on Pinterest for "sardines breakfast" are up over 1,800% from last year, while on TikTok, there are almost 100,000 videos with the #sardines tag, some of which have racked up billions of views.  

Why it’s happening: The sardine craze can be traced to a few factors: everyone’s newfound obsession with protein (a tin of sardines has as much as many protein bars), the proliferation of more colourful, aesthetic packaging, and rising prices for fresh meat and fish. Viral videos also make the case that sardines — which are rich in omega-3 fatty acids — are “skincare in a can.”

Why it matters: Whether it’s sardine-maxxing, sleep-maxxing, or gym-maxxing, Gen Z has become hyperfixated on self-improvement. As traditional milestones like buying a home or starting a family become less financially attainable, optimizing one’s health is an investment many young people can still afford to make.—LA

🍅 21%. Increase in tomato prices in Canada compared to last year, the highest year-over-year price jump for any grocery item. Experts have pointed the finger at U.S. tariffs and inconsistent crop yields. The high prices have (tragically) forced some Canadian restaurants to take tomato dishes off their menus.

Another day, another puzzle gauntlet with your name on it: We’ve got today’s mini-crossword, the daily sudoku, Codebreaker, and Who’s Who.