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Adobe ToS changes cause user revolt

Adobe (Nasdaq: ADBE) is facing backlash from users after an update to its Terms of Service suggested that the company may access user content through manual and automated methods, including machine learning techniques, to improve its services and software. 

The update, which went into effect on February 17, 2024, raised concerns among users who feared that their creative work, including confidential and NDA-protected projects, could be used as training data for Adobe’s AI tools without proper credit or compensation.

You can read more on the matter here.

What’s going on?

• Congo Beats Canada to LNG Exports (theDeepDive)

• Trudeau to call vote on contentious tax change this week (BNN)

• FBI Raid in Atlanta Unveils Alleged Rent Price Fixing Scheme (theDeepDive)

• US Supreme Court to hear Facebook bid to scuttle shareholder lawsuit (Reuters)

• Tax collectors owed more than $300-million over alleged fuel fraud on First Nations reserves (Globe)

• Kate Middleton “May Never Come Back” To Royal Duties (theDeepDive)

• Macron dissolves the French parliament and calls a snap election after defeat in EU vote (APNews)

• Google Announces $100 Million Distribution to Canadian News Companies (theDeepDive)

• FDA panel reviews Eli Lilly Alzheimer's drug ahead of agency decision (Reuters)

• Canada’s Average Rental Asking Price Reaches Record High With BC Topping The List (theDeepDive)

• Apple faces pressure to show off AI following splashy events at OpenAI, Google and Microsoft (CNBC)

• Angela Merkel “Concealed” Russian Blackmail Threat Over Nord Stream 2 (theDeepDive)

What’s the latest?

• Capital Gains: Prime Minister Justin Trudeau's government is set to vote this week on increasing the capital-gains tax inclusion rate from 50% to 66.67%, effective June 25, aiming to raise nearly $20 billion over five years. The detailed legislation, including concerns from venture capitalists, startup founders, and junior mining companies, will be addressed in a future bill expected in September.

• Cannabis Regs: The federal government is proposing several changes to cannabis regulations aimed at reducing the regulatory burden and saving approximately $41 million annually in administrative and compliance costs. Health Canada's proposed changes include allowing different colors for lids and containers, transparent packaging, QR codes for product information, and packaging multiple products together within the 30-gram limit.

• Consumer Confidence: Pessimism about the Canadian economy is starting to thaw, with the Bloomberg Nanos Canadian Consumer Confidence index rising to 54, the highest since May 2022. This improvement in economic sentiment comes as Canadians feel more positive about their personal finances, job security, the economy, and real estate prices.

• Sugar Drives Exports: Despite Canada's inability to grow enough sugar domestically, it has attracted significant investment in its confectionery industry due to high U.S. sugar prices driven by protectionist measures. Companies like Hershey, Blommer Chocolate, and Mondelez are expanding operations in Canada to take advantage of lower sugar costs and avoid U.S. tariffs on raw and refined sugar. This shift has led to a surge in Canadian candy production and exports to the U.S.

• Tesla Vote: Tesla's upcoming June 13 annual meeting is turning into a critical referendum on Elon Musk's $56 billion pay package following a Delaware court's rejection of the deal. The company is rallying support from its substantial retail investor base, who generally favor management but often don't vote. Tesla is conducting an extensive outreach campaign, including engaging online influencers and offering factory tours to encourage voting.

Silver surges in 2024

The stock market and stuff

• Amazon Accused of Breaching Russian Sanctions with Facial Recognition Technology (theDeepDive)

• Shein's pre-IPO charm offensive hits roadblocks in Europe (Reuters)

• Global Reserve Managers Flock to US Dollar, Yuan Demand Stalls: OMFIF Survey (theDeepDive)

• Great ‘Bear Market’ in Diversification Haunts Wall Street Pros (Bloomberg)

• Adobe’s Terms of Service Update Sparks Outrage Among Users Over Privacy Concerns (theDeepDive)

In the juniors

• Power Nickel Begins 8,000 Metre Exploration Program Targeting Lion Discovery (theDeepDive)

• Blue Sky Uranium Options Out Main Deposit At Flagship Asset For US$35 Million In Project Spend (theDeepDive)

• F3 Uranium Sees Board Of Directors Approve Spinout Transaction (theDeepDive)

• Nevada Copper Tosses In The Towel, Files For Chapter 11 Bankruptcy (theDeepDive)

FULL DISCLOSURE: Sterling Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Sterling Metals. The author has been compensated to cover Sterling Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.