Sponsored by Emerita Resources

French Retirees Out-Earn Workers

French retirees have achieved an unprecedented milestone among developed nations, with new data revealing they now out-earn working-age adults for the first time.

Data shows French retirees aged 65 and older receive approximately 1% more in average disposable income compared to working-age adults, contrasting sharply with other developed countries where working citizens typically earn 5-30% more than pensioners.

This places France as an outlier among OECD nations. In countries like Germany, Canada, and the United States, working-age populations maintain significantly higher average incomes than retirees.

You can read more on the matter here.

What’s going on?

• Freeland Is Free From Cabinet, Could Land Ukraine Envoy Stint (theDeepDive)

• Beijing says TikTok’s US app will use Chinese algorithm (FT)

• BC LNG Project Secures Provincial, Federal Approval (theDeepDive)

• Feds 'looking at' axing Chinese EV tariffs to ease canola tax (TS)

• Carney Says Public Service Cuts Will Come Through Attrition (theDeepDive)

• Canadian housing starts fall 16% in August -CMHC (Reuters)

• SEC Prioritizes Trump’s Push to End Quarterly Earnings Reports (theDeepDive)

• Appeals Court Rejects Trump Request to Remove Fed Governor Lisa Cook (WSJ)

• Ontario Regulator Sues Former iPro Realty Executives Over Alleged Trust Fund Theft (theDeepDive)

• US in talks to fund multibillion-dollar mining initiative for critical minerals (FT)

• Montreal Lawyer Seeks Class Action Against Grocers Over False ‘Made in Canada’ Labels (theDeepDive)

• Trump says US has a buyer for TikTok (Reuters)

What’s the latest?

• Meta: Meta is set to unveil its first consumer-ready smart glasses with a built-in display, expected to retail for about US$800, at its Connect event this week. Codenamed Hypernova and likely branded as Celeste, the glasses will feature a small digital display in the right lens for notifications, alongside a wristband for hand-gesture control. Analysts warn the high price and bulky design could limit adoption to only a few hundred thousand units. Meta has invested over US$60B since 2020 into augmented reality but continues to face heavy scrutiny over child safety issues tied to its platforms and AI policies.

• Real Estate: Canada’s housing starts fell 16% in August to a seasonally adjusted annual rate of 245,791 units, down from 293,537 in July, CMHC reported. Urban starts dropped to 223,728 units, while rural starts were estimated at 22,063. Despite the monthly decline, the six-month moving average edged up 1.6% to 267,259 units, and actual urban starts rose to 18,408, up from 16,775 a year earlier.

• Markets: U.S. stocks hovered near record highs Tuesday, with the S&P 500 up 0.1%, the Dow up 52 points (0.1%), and the Nasdaq up 0.1%, as markets awaited the Fed’s expected first rate cut of the year on Wednesday. Traders anticipate multiple cuts through 2025–26 amid a cooling job market and Trump’s tariffs pressuring growth. Retail sales rose more than expected in August, suggesting resilient consumer spending. Oracle gained 3.5% on TikTok deal speculation, while Dave & Buster’s plunged 15.4% after weak earnings.

• Economy : Canada’s inflation rate edged up to 1.9% in August, as a smaller annual drop in gasoline prices lifted the headline figure, Statistics Canada reported. Gas rose 1.4% month-over-month, though still down 12.7% annually, while grocery prices climbed 3.5%, led by a 12.7% surge in beef. Core inflation stayed near 3%, but short-term trends showed cooling. Economists say the data clears the way for the Bank of Canada to cut rates on Wednesday, with markets expecting a quarter-point move and potentially another cut in October.

• Politics: Chrystia Freeland resigned as Transport and Internal Trade Minister and will not run in the next federal election. She will remain an MP while serving as Canada’s Special Representative for the Reconstruction of Ukraine, working directly with Prime Minister Mark Carney and Ukrainian leaders on rebuilding efforts. This marks her second cabinet resignation in nine months, after stepping down under Justin Trudeau. Freeland, an MP since 2013 and former deputy prime minister, has held multiple high-profile portfolios including foreign affairs and international trade.

Barrick Mining Sells Their LAST Canadian Mine

The stock market and stuff

• Carney Requires Teck Buyer Must Relocate HQ To Canada (theDeepDive)

• Nestlé chair to step down weeks after dismissal of CEO (FT)

• Paramount Skydance Bid For Warner Bros Could Spark A Bidding War (theDeepDive)

In the juniors

• Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round (theDeepDive)

• EnCore Energy Sees EPA Deny Petition For Permitting Review At Dewey Burdock (theDeepDive)

• Surge Battery Metals Enters LOI For Joint Venture At Nevada North Lithium (theDeepDive)

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