Pump prices on the rise as OPEC+ cuts oil production

Canadians had a brief respite from summer's record-high gas prices, but new cuts to global supply mean filling your tank will leave your wallet considerably lighter once again. 

Alberta gets a new premier

Danielle Smith, the newly-elected leader of Alberta’s United Conservative Party (UCP), will be sworn in as the province’s premier today.

Why it matters: Smith campaigned for the job on an “Alberta First” slogan and promises to adopt a more antagonistic posture towards the federal government. 

Xi tries to three-peat

China’s most important political event begins this week, a twice-a-decade Communist Party gathering that will likely see President Xi Jinping secure a precedent-breaking third consecutive five-year term in office. 

Why it matters: Who leads China for the next five years (and their policies) will have enormous consequences for the global economy, which has come to depend on the Chinese economy as a critical manufacturing hub and consumer market.

The supply chain is healing

The sun is up, the birds are chirping, and maybe—if you look at a few key prices—the world’s battered supply chain is beginning to heal from the shock of the pandemic and war in Ukraine. 

Driving the news: Recent data suggest that some critical parts of global supply chains are functioning better than they have in years.

The CRA’s missing $75 million

Six years after the release of the Panama Papers, it’s not totally clear if the government has collected any tax-evasion-money found hidden in Central American offshore accounts. 

Meta employees aren’t interested in the metaverse either

Have you been spending time in the metaverse? No? That makes you and Meta employees.

The face-off around grocery greedflation

The feds are going to take a long, hard look at Canada’s biggest grocers to see if they’ve been stocking lies and deception alongside meats and produce in their stores.

Alberta adopts the Texas playbook

A nurse, an accountant, and an engineer walk into a province. They all get jobs.

That’s one of several cheeky ads, paid for by the government of Alberta, taking over Canada’s busiest transit stations lately. It’s all part of a $2.6M “Alberta is Calling” campaign, which aims to lure skilled workers to the province with affordable housing and high wages.

Robot safety

Do you get really scared watching videos of those scarily agile robot dogs

Of course you do! In that case, you’ll be happy to know that the people who make them have promised that they will never let them hurt you.

Save the MBA for another day

Wannabe McKinsey consultants and Bay Street executives are starting to realize that in today’s red-hot labour market, an MBA might be nothing more than a nice-to-have.

No oil for Joe Biden

OPEC+, the Saudi-led energy cartel that accounts for 40% of the world’s oil supply, will cut its collective output by an amount that roughly amounts to 2% of global output.

That’ll be 2.4% more, please

You gotta spend money, to spend money… is an accurate saying starting today, as businesses in Canada get the go-ahead to pass credit card processing fees onto customers. 

Cable could be getting more expensive

If you stayed loyal to your cable company during the cord-cutting frenzy of 2016, they’ve found the perfect way to thank you: a more expensive bill, which could be arriving soon if the CRTC approves a price bump for "skinny" cable packages. 

Send tweet. And cheques.

Selling out has a new meaning

Phil Collins and Genesis no longer have publishing rights to their recordings. They weren’t robbed, or anything… they’re just the latest musicians to sell them for a hefty sum. 

HSBC-ya

HSBC has launched a review into its Canadian business that could end in a US$9B sale, as the bank faces pressure to ditch less profitable markets to focus on Asia and Europe.

Retailers have too much stuff

From Nike to Canadian Tire, the world’s biggest retailers and brands are drowning in more merch than they know what to do with as consumers pull back on spending. 

All eyes on Credit Suisse

Whether you’re a regular person or a large Swiss bank, you know things have gone south when you’re left with no option but to change your name

… which may end up as the plan for Credit Suisse as the bank lurches from one crisis to another.   

What’s ahead for Legault’s second term

François Legault, Leader of the Coalition Avenir Québec (CAQ), will stay on as the premier of Québec after winning a majority government in a landslide victory. 

Catch up: Legault started his political career in the separatist, social democratic Parti Québécois (PQ) before founding the CAQ a decade ago. The new party dropped calls for independence in favour of a nationalist agenda and pro-business views.