Good morning. McDonald’s is revamping its beverage offerings to include energy drinks, crafted sodas, and fruit-flavoured refreshers. The new items will be available later this year in the U.S., and include a Red Bull Dragonberry Energizer, a Mango Pineapple Refresher, and a Dirty Dr Pepper.
We hope the menu comes to Canada, because we can’t imagine a better way to start the day than with a Red Bull Dragonberry Energizer — perhaps double-fisting it with a Tim Hortons Protein Latte.
Today’s reading time is 5½ minutes.
MARKETS
| ▲ | TSX |
33,879.24 |
+0.54% |
|
| ▲ | S&P 500 |
6,886.24 |
+1.02% |
|
| ▲ | DOW JONES |
48,218.25 |
+0.63% |
|
| ▲ | NASDAQ |
23,183.74 |
+1.23% |
|
| ▼ | GOLD |
4,762.6 |
-0.52% |
|
| ▲ | OIL |
98.01 |
+1.49% |
|
| ▲ | CAD/USD |
0.73 |
+0.37% |
|
| ▲ | BTC/USD |
73,204.08 |
+2.59% |
Markets: Canada’s main stock index neared a six-week high as optimistic investors continued to believe a U.S.-Iran peace deal would happen despite recent setbacks.
TRANSPORT
Waymo plots its Canadian expansion
Source: Waymo.
Driverless taxis could soon be cruising the streets of Canada’s biggest city.
What happened: Robotaxi operator Waymo is planning to apply for Ontario’s automated vehicle pilot program, per the Toronto Star, paving the way to eventually launch its commercial ride-hailing service in Toronto.
Waymo, which has seen its weekly ridership double to 500,000 over the past year, is already operating in 11 U.S. cities and is looking to expand into 20+ more, including Tokyo and London.
Why it matters: If it’s cleared by the Ontario government, Waymo’s Toronto launch would mark Canada’s first-ever driverless taxi fleet. The upside of bringing autonomous ride-hailing to the country is compelling, but it isn’t without its critics.
Waymo claims its cars reduce fatal crashes by 92% and will eventually cut the cost of rides for consumers. While they’re still more expensive than Uber or Lyft, the price gap between Waymo and other ride-hailing services is shrinking quickly.
On the other hand, many people — including Toronto Mayor Olivia Chow — are concerned robotaxis would displace taxi and ride-hailing jobs.
Zoom out: Ontario giving Waymo the green light could have a ripple effect across the country. Waymo is lobbying the B.C. government to change its rules around driverless cars (which are currently banned) to allow it to expand to the province.
Our take: Waymo’s had some high-profile blunders — including power outages that left vehicles stuck in traffic — but it's clear this technology has already reached the point where, on average, it’s far safer behind the wheel than we are.—LA
BIG PICTURE
Source: @MarkJCarney / X.
Liberals secure a majority government after byelection wins. After his party swept all three byelections yesterday, Prime Minister Mark Carney will hold a working majority for the first time since taking office. Having control over the House of Commons (and its committees) will help the Liberals pass bills on bail reform, cybersecurity, and border security that have so far been stalled by opposition MPs. (CBC News)
Lululemon is being investigated in the U.S. for its use of “forever chemicals.” The Texas attorney general launched a probe into the Canadian retailer, looking into whether its products contain harmful chemicals known as PFAS, which are linked to health issues. Lululemon says it's co-operating with the investigation and that it phased out the use of PFAS in its apparel in 2023. (Bloomberg News)
Meta is set to overtake Google as the largest ad platform in the world. The social media company is now expected to surpass Google’s net ad revenue by the end of the year, according to a new research report. Google’s ~US$240 billion ad business, which includes its search platform and YouTube, has dominated since the early days of internet search, but has faced stiffer competition as of late from Amazon and AI chatbots. (Wall Street Journal)
📡 What else is on our radar:
Donald Trump says a U.S. blockade of the Strait of Hormuz is underway.
The Jeff Bezos-backed EV truck maker Slate raised US$650 million as it nears its first production cycle.
Facing a cash crunch, auction house Sotheby’s has started offering sellers interest on their sale proceeds if it can hold onto their money a little longer.
WHAT THEY’RE SAYING
Source: Warner Bros. Studios / Wikimedia Commons.
What they’re saying: “The result will be fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences… around the world,” were words co-signed by over 1,000 film workers in an open letter opposing the Warner Bros.-Paramount merger. Signatories include Ben Stiller, Jane Fonda, and Denis Villeneuve.
Why it matters: Paramount CEO David Ellison has pushed against the criticisms levied here — downplaying layoffs and promising to increase, not decrease, the annual number of theatrical releases. However, industry experts are skeptical, especially considering the Trump administration seems primed to rubberstamp the merger without a second thought.
BUSINESS
Let us count all the discount grocery stores
Source: Raysonho / Wikimedia Commons.
Canada’s grocers are in a race to open the most discount locations.
Driving the news: Last week, Empire — owner of Sobeys, Farm Boy, and other grocery chains — entered a deal to buy Mayrand, a discount grocery chain based in Quebec. The move is the latest play from a Canadian grocer looking to expand its discount footprint.
Zoom out: Last fiscal year, Loblaw, Metro, and Empire — Canada’s Big Three grocers — opened a combined 61 new discount grocery stores, according to data compiled by The Logic. They show no signs of slowing and are on track to open at least 49 more this year.
According to a report from research firm Kantar Retail, Canada now has ~1,200 discount grocery stores, excluding Dollaramas, compared to ~2,500 conventional grocery stores and supermarkets. Just seven years ago, it was a 1,000 to 2,700 split.
Why it matters: Years of punishing food inflation have sparked a fundamental reorientation of the grocery market, where shoppers are discarding previous preferences and focusing almost entirely on price.
Discount grocery stores are now popping up in more affluent neighbourhoods. Take Montreal’s posh Outremont borough getting a Maxi, or the firmly upper-middle-class Toronto enclave of Roncesvalles exchanging its Loblaws for a No Frills.
Our take: One positive takeaway is that society might finally be shedding its needless stigma around discount shopping. On the other hand, it’s not a great sign that a growing number of people can’t afford to shop at regular grocery stores. It could also mean a rise in dumpier stores, even ones that sell goods past their best-before date. —QH
ONE BIG NUMBER
🚔 7. Toronto police officers who are now facing criminal charges following an undercover police corruption sting called Project South. The officers are accused of accepting bribes, leaking confidential information to organized-crime groups, and protecting drug-trafficking networks.
PEAK PICKS
Alberta is testing an AI drone to help combat its wild boar problem.
Long listen: The complete history of Ferrari.
Two of Dragons’ Den’s biggest success stories share their advice for building a business.
The Rolling Stones have seemingly released a new single under a mysterious pseudonym.
10 easy springtime salad recipes.
Watch: BBC Earth caught a baby penguin taking its first steps.
We’ve got games galore with today’s mini-crossword. the daily sudoku, Codebreaker, and Who’s Who!
