Sponsored by Rua Gold

Is Air Canada Shutting Down?

The Canadian Federation of Independent Business (CFIB) has raised concerns about the potentially devastating effects of a looming work stoppage at Air Canada, as the airline faces a labour dispute with its pilots. As negotiations between Air Canada and the Air Line Pilots Association (ALPA) continue, the possibility of flight disruptions could send shockwaves through Canada’s economy, particularly for small businesses.

Air Canada, the nation’s largest airline, serves as a vital conduit for both passenger travel and cargo transport across the country and internationally. Each day, nearly 120,000 travelers rely on Air Canada to reach their destinations, and many of these trips are tied to business and tourism. The Canadian tourism and hospitality industries, already struggling to recover from the impacts of the COVID-19 pandemic, are facing an especially critical juncture as the summer travel season comes to an end.

You can read more on the matter here.

What’s going on?

• 96% of Boeing Machinists Vote to Strike, Rejecting Company’s Offer (theDeepDive)

• RSV shot will be offered widely in Ontario and Quebec, but not in Western provinces (Globe)

• Jagmeet Singh Unveils NDP Plan to Break Away from Carbon Tax (theDeepDive)

• US targets trade loophole used by ecommerce groups Temu and Shein (FT)

• Small Businesses at Risk as CFIB Warns of Potential Air Canada Shutdown (theDeepDive)

• Musk’s X Deemed Too Small for EU Crackdown on Big Tech’s Power (Bloomberg)

• Timber Shortage and US Tariffs Push Canfor to Shut Down Vital BC Mills (theDeepDive)

• Americans lost a record $5.6 billion to crypto scams last year, says FBI (CNBC)

• Amazon’s Satellite Network Faces Skyrocketing Costs in $20 Billion Gamble (theDeepDive)

• WHO clears Bavarian Nordic’s vaccine for mpox, sets up access scheme (Globe)

What’s the latest?

• China: China will gradually raise the retirement age starting January, extending it from 60 to 63 for men, 55 to 58 for women in white-collar jobs, and 50 to 55 for blue-collar women over 15 years. The changes aim to address the country's aging population and labor shortages, with the old-age dependency ratio expected to rise to 52% by 2050. Additionally, the pension contribution period will increase from 15 to 20 years starting in 2030.

• Boeing: Boeing's U.S. West Coast factory workers went on strike after rejecting a proposed contract, halting production of the 737 MAX. The strike, the first since 2008, involves around 30,000 workers and was backed by 96% of voters, who demanded a 40% pay rise over the proposed 25% increase. The strike could cost Boeing $3 billion to $3.5 billion in cash flow if it lasts 50 days, further straining the company's finances amid regulatory scrutiny and production delays. Boeing's shares fell 2.8% following the strike news, and the company has $60 billion in debt.

• Tariffs: The U.S. Trade Representative approved new tariffs on $18 billion of Chinese goods, including EVs and semiconductors, effective in two weeks. Announced by Biden in May, these tariffs follow a review of those imposed by Trump in 2018. The decision faced delays due to public feedback.

• Consumer Sentiments: U.S. consumer sentiment reached a four-month high in early September, rising to 69 from 67.9 in August, with expectations for lower borrowing costs and the lowest short-term inflation outlook since 2020. Consumers expect prices to rise 2.7% over the next year, down from 2.8% last month. Concerns about unemployment have grown, aligning with expectations that the Federal Reserve may lower interest rates soon.

• Politics: Donald Trump announced he would not participate in a third presidential debate against Kamala Harris ahead of the November 5 election, following several polls showing Harris won their recent debate. Although Trump claimed victory, a Reuters/Ipsos poll found 53% of voters thought Harris performed better, with 54% saying one debate was enough. The debate drew 67.1 million viewers, and Harris expressed willingness to hold another debate.

First Majestic's silver surge

The stock market and stuff

• Tiger Global plans to join OpenAI’s funding round at more than $150 billion valuation (CNBC)

• First Majestic’s Silver Surge: Gatos Acquisition and Navidad Discovery with Mani Alkhafaji (theDeepDive)

• Oracle shares rise as it expects to cross $100 billion in fiscal 2029 sales (Reuters)

• B2Gold Still Targets 2025 First Gold Pour at Goose Project Despite 23% Cost Increase (theDeepDive)

In the juniors

• Gold Company: No Financing, No Warrants, & Money in the Bank! with John-Mark Staude of Riverside Resources (theDeepDive)

• M&A Surge: Unlocking Value in Junior Miners with Craig Parry of Inventa Capital (theDeepDive)

• Plurilock’s Behavioral Biometrics: Next-Gen Cybersecurity with Scott Meyers (theDeepDive)

FULL DISCLOSURE: Rua Gold is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Rua Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.