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CTV Fires Staff Over Poilievre Video

CTV News has terminated the employment of two staff members following an investigation into an altered video clip of Conservative Leader Pierre Poilievre that aired in a recent national news report. The network announced this decision in a statement posted on social media, citing a breach of editorial policies and practices.

The controversy arose from a news segment that first aired on Sunday, which included a manipulated clip of Poilievre during a media scrum. According to the Conservative Party, the edited clip gave the misleading impression that Poilievre was proposing a non-confidence motion to eliminate the Liberal government’s dental care program.

You can read more on the matter here.

What’s going on?

• CTV News Dismisses Two Staff Members Over Altered Poilievre Video Clip (theDeepDive)

• Sputtering Canadian economy fuels calls for big rate cut (Globe)

• US consumer sentiment hits highest level since April (FT)

• AI Giant OpenAI Plans Shift to For-Profit Model, Altman to Receive 7% Stake (theDeepDive)

• Statistics Canada reports real GDP grew 0.2% in July (BNN)

• Canada budget deficit over first four months of 2024/25 jumps to C$7.3 bln (Reuters)

• Chinese Nuclear Submarine Sinks, U.S. Officials Claim Beijing Covered Up Incident (theDeepDive)

• Hurricane Helene kills at least five, weakens while moving north from Florida to Georgia (Globe)

What’s the latest?

• Hurricane Helene: Hurricane Helene hit Florida as a Category 4 storm with 140 mph winds, causing at least 1 fatality and leaving over 1 million without power. It weakened to 75 mph as it moved into Georgia, but officials warned of 20-foot storm surges and up to 15 inches of rain. Estimated insurance losses range from $3 billion to $6 billion, with severe damage expected across multiple states.

• Putin: Putin warned that Russia may use nuclear weapons if Ukraine strikes deep inside its territory with Western missiles. He extended nuclear-use criteria to include large-scale conventional attacks, lowering the threshold for a potential nuclear response. While some experts believe he's bluffing, others emphasize the seriousness of his threat, warning that the situation should not be underestimated.

• Economy: Canada's GDP grew by 0.2% in July, driven by retail trade, but August is expected to show no growth. Strength in oil and gas was offset by weakness in manufacturing and transportation. Economists predict the Bank of Canada may cut interest rates by 50 basis points in October, depending on upcoming labor market and inflation data.

• US Inflation: Economists expect U.S. inflation to reach the Federal Reserve's 2% target by early 2024, aligning with the Fed's recent projections. The core personal consumption expenditures (PCE) price index is also forecast to average 2.2% next year. Unemployment is expected to rise slightly, averaging 4.4% in 2025. Both the Fed and economists foresee further interest rate cuts, bringing rates down to 3%-3.25% by the end of 2025. While the chance of a U.S. recession has decreased slightly, economic growth is predicted to slow, with GDP expected to average 1.8% in 2025.

• OPEC: OPEC+ is cracking down on compliance with output cuts as members like Iraq, Kazakhstan, and Russia have repeatedly overproduced. Saudi Arabia postponed returning 2.2 million bpd of voluntary cuts to December, while oil prices fell to $71.44 per barrel amid concerns that Riyadh might abandon its $100-per-barrel target. Saudi Arabia's budget break-even price is estimated at $96.20 per barrel, with the OPEC+ monitoring committee set to review compliance on October 2.

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The stock market and stuff

• Federal Reserve’s preferred inflation measure falls more than expected to 2.2% (FT)

• Aramark potential sale to Sodexo seems unlikely (SA)

• DoorDash to End Partnership with Payfare’s DasherDirect (theDeepDive)

• Murdoch’s REA Makes Fourth Bid for UK Housing Site Rightmove (Bloomberg)

• Oil steady but set for weekly drop on higher supply outlook (Reuters)

In the juniors

• Aston Bay Intersects 22.9m @ 8.5% Cu in Nunavut’s Storm Project (theDeepDive)

• Masivo Successfully Drills Hole Number 5 at Promising Skarn Deposit (JMN)

• Giant Mining’s Majuba Hill: 1.35% Copper Over 66.4m from Surface (theDeepDive)

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