Imax-maxxing

Good morning. New videos have emerged of the cast in the upcoming four-part Beatles biopic series recreating the iconic Abbey Road album cover. To jog your memory, each movie will focus on a different Beatle (yes, even Ringo), and all four will be released simultaneously in April 2028. 

We know that movie magic will probably spiff things up a bit, but we must say, the wigs they’re wearing in these photos look like they came from Temu.

Today’s reading time is 5½ minutes.

Markets: Canada’s main stock index fell from its record high yesterday as a hotter-than-expected monthly inflation report sent a slight chill through the markets.

Move over, Robert Pattinson — a Canadian company has had maybe the best summer of anyone in Hollywood. 

Driving the news: Christopher Nolan’s The Odyssey hit theatres in mainland China over the weekend and grossed US$19.3 million across Imax showings; that accounted for 53% of the film’s gross in the country, despite the fact that Imax makes up just 1% of Chinese screens.

Zoom in: In total, the movie made $47 million globally via Imax screenings last weekend, falling just shy of its fifth-straight week of making $50 million or more just through Imax. Prior to this streak, Imax had never had more than one $50 million weekend in an entire year.

Why it matters: Cinemas are shifting toward “premium formats” to make more money per screening and tempt viewers like the sirens on the rocks; The Odyssey is supercharging this trend. In the second quarter of this year, Imax already did its most installations in a decade.

What’s next: Earlier this year, the Wall Street Journal reported that Imax was searching for a buyer to go private, looking to sell high after recent success. However, at that time, shares were flagging slightly, down roughly 7% on the year. Since that report, its stock has shot up about 55% — any potential sale prices that were discussed have surely been revised.—QH

Inflation jumped to 3% in July. Canada’s annual inflation rate ticked up from 2.8% in June, driven almost entirely by a 25% spike in gas prices compared to the same month last year. The oil supply shortage sparked by the war in Iran hasn’t just hurt Canadians at the pump: airlines passed on their higher jet fuel costs to flyers, with airfare prices jumping 12% in July. The good news? Grocery inflation cooled to 3.1%, down from 3.9% in June. We’ll take it! (The Canadian Press)

BHP is in talks to invest in landmark Saskatchewan uranium project. Canadian uranium miner NexGen Energy says it has held discussions with the mining giant about taking an equity stake in its Athabasca Basin project, which promises to be one of the world's largest uranium mines. NexGen is looking to drum up US$1 billion over the next nine months for the mine, which broke ground last week. The Athabasca Basin is home to the world's largest known deposit of uranium. (Reuters)

Mark Walter shops stake in Chelsea. A week after agreeing to sell the L.A. Lakers for a record US$12.5 billion, the billionaire is reportedly looking to cash out of his Premier League soccer club as well. Walter, who also owns the Los Angeles Dodgers and the Professional Women's Hockey League, is reportedly trying to raise billions to pay down loans tied to his various businesses that sparked a U.S. Justice Department investigation. (Bloomberg News)

📡 What else is on our radar: 

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What they’re saying:  “So what do they offer to Quebecers if it’s not this agreement? Where will they find the 10,000 megawatts we are bringing to Quebec?” Premier Christine Fréchette rhetorically asked the Parti Québécois (PQ) after the province signed a non-binding deal with Newfoundland and Labrador to share hydropower from the Churchill Falls generating station.

Why it matters: The deal would give the two provinces the green light to launch new energy projects worth more than $50 billion and to export power from Newfoundland to the U.S. through Quebec. However, the PQ — the party projected to win Quebec’s October provincial election — says it will renegotiate if it takes power, calling the deal “humiliating” for Quebec.

Russian disinformation farms have found a new target: Alberta. 

Driving the news: New research from the University of Regina found that Russian content farms are targeting Alberta residents with online disinformation campaigns encouraging them to vote in favour of separation. Between July 17 and July 30, the research lab found that 80% of analyzed disinformation posts were linked to Russia.

Catch-up: A separate report in April found a collection of "deliberately inauthentic” social media accounts that peddled disinformation and promoted the idea of Alberta joining the U.S. — those videos had already amassed 40 million views when the report was published. 

Why it matters: Fewer than one in five Albertans support the idea of separation, according to Ipsos polling, but misinformation campaigns like these, which exaggerate the support for a political movement, can generate real momentum. Researchers found that Russian disinformation campaigns played a role in swaying public support in favour of Brexit. 

Our take: The separatist movement is losing financial and public support among Albertans. The noise on social media may be getting louder, but that won’t necessarily translate to genuine support come referendum day.—LA

🇨🇦 50%. Increase in people who received Canadian citizenship between April 1 and May 31, driven by Americans using the new “Lost Canadian” law to receive a certificate. Under the new rules, anyone who can prove they have a Canadian ancestor can obtain citizenship, even if that ancestor left the country several generations back.

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