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CBC approves bonuses after conducting layoffs

The Canadian Broadcasting Corporation (CBC) and Radio-Canada board of directors has greenlit performance bonuses for select employees, despite recent job cuts and opposition from Members of Parliament. This decision, announced on the broadcaster’s website, affects 1,194 eligible staff members for the 2023-24 fiscal year.

While the exact amount of the payouts remains undisclosed — the company has released information about bonuses in previous years under access-to-information law — CBC spokesperson Leon Mar said that this information is part of internal financial operations. The public broadcaster maintains that these bonuses are contractually obligated performance pay, tied to the achievement of specific company goals.

You can read more on the matter here.

What’s going on?

• Korea Hydro & Nuclear Power Selected for $22 Billion Czech Nuclear Project (theDeepDive)

• WTO Cites Lack of Transparency on China Industrial Subsidies (Bloomberg)

• WATCH: Toronto Region Flooded By Major Storm, Infrastructure Failing (theDeepDive)

• US online sales hit $7.2 bln on first day of Amazon Prime Day event, Adobe says (Reuters)

• UK Competition Watchdog Investigates Microsoft’s Inflection AI Recruitment (theDeepDive)

• IRS Sweetens Offer for Land Tax-Break Deals It Has Blasted (WSJ)

• Ontario Accelerates Expansion of Alcohol Sales, Pushing OPSEU To Take A Loss Amid Strike Action (theDeepDive)

• Pentagon leaker Jack Teixeira to face trial by court-martial (Reuters)

• Biden to Announce Nationwide Rent Control Plan (theDeepDive)

• Loan Issuers Build in Their Own Rate Cuts as They Wait for Fed (Bloomberg)

• Canada To Go After Monopoly In Digital Wallets, Urges Competition Bureau To Act (theDeepDive)

• Paris mayor swims in River Seine to prove its cleanliness (Globe)

What’s the latest?

• Robotaxi’s: Ark Investment Management's Cathie Wood predicts Tesla's autonomous taxi platform could catalyze a 10-fold increase in its share price, describing it as an "$8 trillion to $10 trillion global revenue opportunity." Wood believes platform providers like Tesla could capture up to half of this market, shifting investor perception of Tesla beyond just an electric-vehicle maker.

• Capital One: Capital One has committed $265 billion over five years to lending, philanthropy, and investment if its takeover of Discover Financial Services goes through. The plan includes $200 billion for lending to low-and-moderate income consumers and communities, $35 billion for affordable housing, and $15 billion for small business lending. This commitment is aimed at addressing critics' concerns and securing approval from regulators.

• Air Canada Lawsuit: Air Canada may have to pay $100 million to about 2,200 former workers after a Quebec court ruled in their favor in a class action lawsuit. The lawsuit pertains to lost wages, benefits, and moral damages related to the closure of Aveos, Air Canada’s former maintenance contractor, in 2012. The plaintiffs argue that Air Canada violated a federal law by not maintaining certain maintenance operations.

• Netflix Slowdown: Netflix is projected to have added around 4.82 million subscribers in the second quarter, the lowest in five quarters, following a crackdown on password sharing and competition from summer sports events like the Euro soccer tournament as per LSEG data. Despite this, the company's revenue likely rose 16.4% to $9.53 billion, the fastest growth since Q2 2021, driven by strong ad revenue growth from its lower-priced ad-supported tier.

• Ukraine Aid: Germany plans to halve its military aid to Ukraine in 2025, reducing it to 4 billion euros from around 8 billion euros in 2024. This decision comes amid concerns about potential changes in U.S. support for Kyiv, particularly if Donald Trump returns to the White House. German Finance Minister Christian Lindner stated that Ukraine's financing is secured for the foreseeable future, thanks to European instruments and G7 loans.

18M ounces of silver at $10 an ounce: GoGold's growth plan

The stock market and stuff

• Former Galaxy Digital Partner Apologizes for Gambling Away Investor Funds: “I Really F*cked Up” (theDeepDive)

• Capital One pledges $265 billion in lending, philanthropy as it tries to clinch Discover deal (Reuters)

• Stocks Get Hit Amid Selloff in Global Chipmakers (Bloomberg)

• Are Spot ETH ETFs About to Be Approved? (theDeepDive)

In the juniors

• Benton Resources Hits Earn-In Target For 70% Ownership In Great Burnt Copper Project (theDeepDive)

• Baselode Energy Discovers New Zone of Radioactivity Six Kilometres Northeast of ACKIO (JMN)

• Florida Canyon Sells Mexican Business Unit, Including Operating Mine, For US$5 Million One Day After Go-Public (theDeepDive)

• Plurilock Adds Former CrowdStrike Director To Advisory Council (theDeepDive)

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