Explain It Like I'm Five: CPUs and GPUs

A central processing unit (CPU) is a chip that acts like the brain of a computer, managing all of the tasks that keep a system going, from running programs to passing instructions to hardware. A CPU does this with a handful of “cores” — parts of the chip that quickly process data and handle instructions.

Independent web browsers are so trendy in Europe

It turns out the key to breaking Big Tech’s hold on the browser market is letting people know that other options exist.

Rogers Centre gets revamped

The Jays might have a losing record right now, but their stadium is turning into a real winner.

Driving the news: Toronto Blue Jays fans got their first taste of the latest Rogers Centre renos this week. Those seated in the 100-level bowl experienced cushier, wider seats (with cupholders!) and a better view of home plate. 

The government has been using AI… a lot

New mortgage rules for first-time home buyers

Today on “keeping up with federal budget announcements coming out weeks before the actual federal budget announcement” is a policy change covering housing affordability.  

What happened: Canada is rolling out new housing affordability measures for first-time homebuyers, including extending maximum mortgage amortizations to 30 years and increasing the amount that can be withdrawn from an RRSP to buy a first home to $60,000.

Canada has an accountant crisis

As if tax season wasn’t stressful enough, Canada is also dealing with an accountant shortage.

Driving the news: Canadian finance and accounting hiring managers are feeling overtaxed this tax season, with 90% reporting that they are experiencing challenges due to a widespread accountant shortage, according to a new survey by Robert Half. 

Track and field to pay its Olympic gold medallists

New hardest way to earn 50 grand just dropped: winning the Olympic 400-metre hurdles.

What happened: This year in Paris, track and field will be the first-ever Olympic sport to pay prize money to gold medallists. World Athletics, the governing body in charge of track and field, has set aside US$2.4 million to pay $50,000 to first-place finishers across 48 events. 

Canada holds interest rates steady

Let your friends with variable-rate mortgages know you’re thinking of them this week.

What happened: As expected, the Bank of Canada held the policy rate steady at 5% for the sixth consecutive meeting, noting that "inflation is still too high and risks remain" in the form of a resilient growth forecast, even though both inflation and the labour market are cooling.

What Google announced at Cloud Next

No better place than Las Vegas for Google to put a big bet on growing its cloud business.

Getting more cancer tests with faster scans

Prostate cancer is among the most common forms of the disease, with an estimated 25,900 new cases in Canada last year. It is highly treatable if caught early, but a diagnosis requires a three-stage MRI, with the last stage involving an injection of contrast dye to make the scan easier to read.

Digitizing an entire country

It’s important for you to digitally back up your photos and documents, a lesson some countries are putting into practice.

Canada leads the world in fossil fuel funding

Some of us are addicted to spending money on things like shoes or total solar eclipse memorabilia. Canada is addicted to spending money on oil and gas developments. 

Driving the news: A new study found that between 2020 and 2022, Canada led all G20 nations in foreign fossil fuel investments

Your bank is all in on AI

Artificial intelligence is coming to your mobile banking apps in a big way (unless you bank with Laurentian, or something). 

What happened: Three of Canada’s Big Five banks were ranked within the top 10 globally for AI innovation by Evident Insights, which crunched the numbers on AI-related research papers and patent filings as well as investments in AI startups over the last five months.  

It’s a good day to be a crab

Crab fishers in Newfoundland and Labrador are sick and tired of being pinched — not by crabs, but by what they feel are unfair industry pricing practices. 

What happened: Crab fishing season officially began in Newfoundland last weekend, but fishers who are members of the Fish, Food and Allied Workers Union (FFAW) are staying on dry land, protesting a crab pricing system they feel makes it impossible to earn a living.

The struggle to fix Canada’s refugee system

From Afghanistan to Haiti, a rash of global turmoil has led the number of asylum seekers to balloon, with Canada feeling the effects of an overburdened system.

Driving the news: Following a rise in asylum seekers who are ending up on the streets of major Canadian cities, the advocacy group Canadian Council for Refugees is calling on the feds to revamp Canada’s refugee system as it struggles with a historic influx of claimants. 

RBC fires CFO over personal relationship

While RBC has been focused on formalizing its new relationship with HSBC, a secret relationship among the bank’s highest ranks has shaken up the executive team.

What happened: Nadine Ahn, the now former CFO of Canada’s biggest bank, was fired after an investigation revealed that she had an undisclosed relationship with another high-ranking employee. The relationship reportedly led to special treatment, like raises and promotions.

Canada goes on the offensive with new defence funding

After catching flack for not spending enough on defence, the feds fished around their proverbial couch cushions and came up with a hefty chunk of change. 

What happened: As part of Canada's first major defence policy update since 2017, the Canadian Armed Forces (CAF) will receive an additional $8.1 billion in federal funding over the next five years.

Canada almost as unequal as U.S. when it comes to wealth

When it comes to inequality, Canada may not be so different from our southern neighbours after all.

Driving the news: The wealthiest 0.1% of Canadians own 12.4% of total wealth in the country, according to a new study by Social Capital Partners, a Toronto-based think tank.

Feds pledge billions for AI

The federal government sees your $20 per month ChatGPT subscription and raises it by a couple billion dollars.

What happened: The feds will spend $2.4 billion on AI investments in their upcoming budget, Prime Minister Justin Trudeau announced yesterday.

Michael Metzger on the future of batteries

 On this week’s episode of Free Lunch by The Peak, we sat down with Dr. Michael Metzger, an assistant professor and the Herzberg-Dahn Chair for Advanced Battery Research at Dalhousie University, to discuss the battery supply chain and Canada’s role in the sector’s ecosystem.