Sponsored by Cytophage Technologies

Apple wants to take over your car

The United States government has filed a lawsuit against Apple (NASDAQ: AAPL), alleging that the tech behemoth engages in anticompetitive practices aimed at solidifying its dominance in the smartphone market and extending its reach into various industries, including automotive, entertainment, and financial services.

The firm finds itself at the center of the sweeping lawsuit filed by the United States government and a coalition of states, including New Jersey, Arizona, California, Connecticut, and others. The crux of the complaint revolves around Apple’s alleged efforts to maintain a stranglehold on its iPhone platform and ecosystem, thereby stifling competition and innovation.

You can read more on the matter here.

What’s going on?

• Pro-Nuclear Nations Rally for Industry Revival at Brussels Summit (theDeepDive)

• Congress Rushes to Beat Deadline for Partial Government Shutdown (WSJ)

• EPA Seems To Keep Pushing EVs That “Consumers Don’t Want” (theDeepDive)

• Illegal immigrants storm US border in El Paso, knock over guards amid standoff over Texas law (FOX)

• Apple CarPlay “Will Take Over All Of The Screens” Says Lawsuit (theDeepDive)

• Haiti gang leader killed as transition council nears completion (Reuters)

• Bell Media Has Cut 1 In 4 Positions Since 2020 as Parent Company Keeps Dividend Rolling (theDeepDive)

• Over 1m Ukrainians without power after major Russian assault on energy system (TG)

• Texas School Fund Pulls $8.5B from BlackRock, Alleging Fossil Fuel Boycott (theDeepDive)

• 440,500 Starbucks-branded holiday mugs recalled due to burn and cut risks (CNN)

• Conservative Party Ramps Up Fight Against Carbon Tax Hike, Poilievre To Introduce Motion Of Non-Confidence (theDeepDive)

What’s the latest?

• Retail Sales: Canada in January experienced a 0.3% decrease in retail sales to $67 billion, driven by a 2.4% fall in motor vehicle and parts dealers' sales, marking the category's first drop in five months. Core retail sales, excluding gas stations and motor vehicle and parts dealers, saw a 0.4% rise, buoyed by a 3.0% increase in sales at sporting goods, hobby, musical instrument, book, and miscellaneous retailers.

• Cannabis Review: A federal panel has recommended that Canada review and potentially revise its cannabis excise tax structure, suggesting a shift to a model that taxes products based on THC content, aiming to reduce consumption of high-THC products. The current fixed tax rate, deemed a "substantial burden" for producers, is either $1 per gram or 10%, a scale set when prices were expected to be around $10 per gram.

• End to QT?: The Bank of Canada's Deputy Governor Toni Gravelle has stated that quantitative tightening is expected to conclude in 2025, marking a shift in the central bank's balance sheet management towards a normalized range of settlement balances between $20 billion to $60 billion. Gravelle highlighted that despite temporary funding pressures, the central bank's strategy remains consistent with past announcements, aiming to decrease the current level from around $100 billion.

• Immigration Cuts: Canada is implementing a strategic shift in its immigration policy by setting a target to reduce temporary resident arrivals by about 20% over the next three years, aiming to decrease their number from over 2.5 million to approximately 2 million. This move, announced by Immigration Minister Marc Miller, marks the first time the country will set annual targets for temporary immigrants to better align immigration planning with community capacity, labor market needs, and support predictable population growth.

• Funding Deadline: The U.S. Congress faces a critical deadline to prevent a government shutdown, with the Republican-led House and Democratic-majority Senate working to pass a $1.2 trillion funding bill by midnight. This bill aims to sustain government operations through September, concluding a prolonged dispute over fiscal year spending that began on October 1. The legislation, spanning 1,012 pages, notably allocates $886 billion to the Defense Department, among other agencies.

Nickel in Quebec

The stock market and stuff

• El Salvador’s Bukele Resumes Buying One Bitcoin A Day (theDeepDive)

• Cathie Wood’s Ark Takes Tiny Bite of Reddit During Trading Debut (Bloomberg)

• 7% of Canadian Crypto Holders Used Assets for Ransom Payments (theDeepDive)

• Trump social media company will go public as DWAC shareholders approve merger (CNBC)

• Robinhood Shares Jump On Crypto Wallet Launch On Android, UK Debut (theDeepDive)

• “Why Were The Bitcoins Missing?”: FTX CEO Lambasts Bankman-Fried’s Claim That The “Harm… Is Zero” (theDeepDive)

In the juniors

• Golden Cariboo Closes Out $2.0 Million Financing (theDeepDive)

• StrategX Elements Expands Nagvaak Critical Metals and Graphite Discovery with 45.6m Drill Core Interval (JMN)

• Founders Metals Hits 10.9 g/t Gold Over 38 Metres (theDeepDive)

FULL DISCLOSURE: Cytophage Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cytophage Technologies. The author has been compensated to cover Cytophage Technologies 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.