Sponsored by Big Gold

Freshii to cut remote cashiers after backlash

Freshii, the Canadian food franchise, has announced its decision to eliminate its controversial virtual cashier system, known as “Percy,” from its establishments in the coming weeks.

This move comes after public outrage stemming from a Toronto Star investigation that revealed the company’s practice of outsourcing cashier responsibilities to employees in Central America through a third-party entity named Percy.

At the time of its launch, the company touted the “innovation” as a way to tackle the post-pandemic staffing crunch that plagued the restaurant industry.

You can read more on the matter here.

What’s going on?

• Dave Portnoy Reacquires Barstool Sports After Selling It 6 Months Ago (theDeepDive)

• German Exports to Countries Neighboring Russia Surge Amid Concerns Over Sanctions Circumvention (theDeepDive)

• Norfolk Southern agrees to boost safety at Ohio derailment site, US says (Reuters)

• China’s Trade Unexpectedly Plummets Amid Weaker Global Demand (theDeepDive)

• U.S. mortgage rates spike to highest since November, approach 22-year high (Reuters)

• Elon Musk’s Neuralink Gets Fresh $280 Million Handout In A Peter Thiel-Backed Funding Round (theDeepDive)

• First American City to Tame Inflation Owes Its Success to Affordable Housing (Bloomberg)

• Italy Shakes European Banking with 40% Windfall Tax on Rising Interest Profits (theDeepDive)

• Mexico Replaces China as the US’ Top Trading Partner (theDeepDive)

• China’s Trade Unexpectedly Plummets Amid Weaker Global Demand (theDeepDive)

What’s the latest?

• China's Deflation: China's consumer and producer prices decreased in July, indicating deflationary pressure attributed to reduced demand. Both the Consumer Price Index (CPI) and the Producer Price Index (PPI) saw declines, reflecting economic uncertainty.

• US Agricultural Trade Deficit: US agricultural exports and imports experienced a significant drop in June, resulting in the largest monthly trade deficit on record. Agricultural exports and imports declined, leading to a monthly deficit. This trend prompts consideration of the potential impact on trade dynamics.

• Niger Junta Accuses France Amid Crisis: Niger's junta accuses France of destabilizing the country by violating its airspace, escalating tensions and dimming hopes for quick diplomatic resolution. The accusation comes after a recent coup and amid emerging internal resistance. Anti-French sentiment and international pressure complicate the situation, while France denies the claim.

• Russia's Grain Port Challenges: Russia faces overflowing grain ports amid bumper harvests, risking disruptions to global grain trade. Bottlenecks and storage issues in the Black Sea region impact wheat exports.

• Hollywood Writers' Strike Reaches 100 Days: The Hollywood writers' strike marks 100 days, fueled by contract disputes over compensation, minimum staffing, residual payments, and concerns about artificial intelligence. The strike's impact on production and the industry's dynamics intensifies, reflecting the evolving landscape and writers' push for a share in new revenue streams.

China’s influence in politics

The stock market and stuff

• Amazon To Launch New Credit Card Venture with Banco Bradesco in Brazil (theDeepDive)

• Toshi-back Or Toshi-bye: Will The $14-Billion Buyout Offer Save The Troubled Toshiba? (theDeepDive)

• Roblox dives 19% as engagement, user growth disappoints (SA)

In the juniors

• WeWork Won’t Work Anymore? Firm Sounds “Substantial Doubt” To Stay In Business (theDeepDive)

• Trulieve Posts Q2 Net Loss Of $407 Million Due To Asset Impairments (theDeepDive)

• Big Gold Begins Phase 2 Exploration Program At Tabor Project (theDeepDive)

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