It’s not easy being Greenland

Good morning. The Yukon Quest dogsled race, a storied contest once dubbed “the most gruelling race on Earth,” will not take place this year as there is no one left to organize it. The event has been in turmoil for several years due to various dramas that we detailed last year.

As some dog sled fans hope for a return next year, two veteran mushers have started a new 100-mile race called the Yukon Odyssey that will take place in February. If you’re one of our Yukon readers, or just looking for an out-there winter holiday, maybe you should check it out.

Today’s reading time is 5 minutes.

Markets: Canada’s top stock index fell yesterday after two straight days of topping record highs. After a scintillating hot streak, the materials sector finally cooled off, while the energy sector continued to post losses. Meanwhile, Alphabet’s market cap surpassed Apple’s for the first time since 2019. 

The U.S. appears to be set on taking control of Greenland. Whether it does so with its wallet or its military is up in the air. 

What happened: Less than a week after ousting the leader of Venezuela in a military operation, the Trump administration says it is now willing to use military force to annex Greenland, an escalation that has prompted fears about the future of NATO. 

Why it’s happening: The U.S. says it needs to take control of Greenland to ward off threats in the Arctic from Russia and China, but the island also happens to be incredibly rich in oil and critical minerals (tell us if you’ve heard this story before).

Why it matters: The U.S. government’s position is that the entire Western Hemisphere is essentially theirs. While Trump’s 51st state rhetoric has died down, this cavalier approach to the sovereignty of its allies is raising serious alarm bells here in Canada.

Our take: Secretary of State Marco Rubio said this week that the U.S.’s primary goal is still to buy Greenland. It feels more likely than not that threats of military intervention are a ploy to get Denmark to the negotiating table… for now.—LA

Mark Carney will make his first trip to China next week. It will be the first time in eight years that a Canadian prime minister will make the trip to Beijing, as Ottawa tries to patch things up with the world's second-largest economy. Carney is planning to meet with Chinese President Xi Jinping over his two days in the country, though expectations of any trade deal emerging from the talks are low. (CBC News)

The U.S. plans to take complete control of Venezuela’s oil sales. President Trump says the U.S. will take over the country’s oil operations indefinitely, adding that the profits from oil sales will flow to both the U.S. and Venezuela. Trump said earlier this week that Venezuela will give the U.S. up to 50 million barrels of previously sanctioned oil (though “give” doesn’t seem like the most accurate term). The U.S. also seized two more oil tankers yesterday that they say were linked to Venezuela. (Associated Press)

Novo Nordisk will sell its own generic versions of Ozempic. It’s not every day you see a company trying to sell a cheaper version of its own product. With the Canadian patents on its weight-loss drugs now expired, the Danish drugmaker has registered cheaper versions of the treatments, called Plosbrio and Poviztra. At least nine drugmakers have applied to also sell generic versions of the weight-loss drugs in Canada. (The Logic)

ChatGPT is officially in the health business. OpenAI announced its new ChatGPT Health product yesterday, a dedicated platform for users to chat specifically about their own healthcare. The company says over 230 million users already ask health and wellness questions to the chatbot each week. (TechCrunch)

Warner Bros. still doesn’t want Paramount’s money. The studio has rejected Paramount’s revised US$108 billion buyout offer, reiterating that it will move forward with its Netflix merger. In other words, they’re just not that into you, Paramount. (Reuters)

Ubisoft is shutting down its Halifax office. The European video game maker will eliminate 71 jobs as part of the move. The Halifax office helped build the mobile version of the popular game Assassin’s Creed. (The Canadian Press)—LA

One day soon, mid-century predictions about flying cars will come true.

What happened: Joby Aviation bought a 700,000-square-foot plant in Ohio to be the home of its new manufacturing facility. The Toyota-backed air taxi startup is seeking to double production by 2027 and secure U.S. Federal Aviation Administration (FAA) certification this year.

Catch-up: Joby is one of the top names in the emerging electric vertical takeoff and landing aircraft (eVTOL) space. Looking like a cross between a helicopter, a car, and a children’s drawing, some in the aviation industry believe eVTOLs are the future of short-haul air travel. 

Plus: eVTOLs have less bougie use cases than private taxi services. The World Economic Forum has highlighted the potential of the aircraft for remote transport and healthcare delivery. These areas are the focus of Canadian hybrid eVTOL startup Horizon Aircraft.  

Why it matters: Last year, Canada joined a handful of countries, including the U.S., in a joint roadmap for the certification of advanced air mobility aircraft, such as eVTOLs. This implies that any FAA certifications portend potential future certifications in Canada.—QH

✈️ 41%. Increase in airplane turbulence over North America since 1979, according to a new analysis. For flights travelling over the North Atlantic, turbulence was 55% more severe over the same period. Researchers point to a warming atmosphere as a contributing factor.

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Here is today’s mini-crossword and the daily sudoku.

And for our helpful games testers, the bonus mini. Thanks for all your feedback yesterday, we are making updates every day based on your comments.