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International student visas get capped

Canada’s Immigration Minister Marc Miller has announced a two-year freeze on international student admissions, aiming to reform a system he claims is exploiting high tuition fees and delivering substandard education in some cases. This significant policy shift will result in a 35% reduction in new study visas this year, with provinces like Ontario experiencing a steeper cut of over 50%.

The cap, according to Miller, is designed to allow both federal and provincial governments time to address issues within the current framework. Part of the reform includes barring students at institutions operating under a private-public model from obtaining postgraduate work permits, effective September 1.

You can read more on the matter here.

What’s going on?

• Putin Declares Sale of Alaska to the US Illegal, Wants To Reclaim Land (theDeepDive)

• U.S. Seeks to Shut Down Hamas-Linked Currency Exchanges (WSJ)

• Brampton Mayor Calls On The Feds To Limit Number Of International Students (theDeepDive)'

• Alberta farmers face growing risk of soil erosion events as drought persists (BNN)

• UPDATED: Ron DeSantis Drops Out From 2024 Presidential Race (theDeepDive)

• H&M pulls ad after complaints over sexualisation of school girls (Reuters)

• Cargo theft spiked over 57% in 2023 vs. 2022, new data shows (CNBC)

• Ross Gerber Thinks Elon Musk Doesn’t Live in the Real World, Shouldn’t Blackmail Investors Into Doing What He’s Supposed to Do Anyway (theDeepDive)

• SolarEdge to lay off 16% of workforce to trim operating costs (Reuters)

• Putin Declares Sale of Alaska to the US Illegal, Wants To Reclaim Land (theDeepDive)

• Japan Leaders Meet to Amplify Call for Wage Gains at Small Firms (Bloomberg)

What’s the latest?

• Student Cap: Canadian Immigration Minister Marc Miller announced a two-year cap on international student admissions, aiming to address issues within the educational system that he believes exploit international students through high tuition fees while sometimes providing substandard education. This cap will result in a 35% reduction in new study visas for this year, with some provinces like Ontario experiencing reductions of 50% or more.

• Rate Expectations: The Bank of Canada is expected to maintain its key overnight rate at 5% in its upcoming meeting, with markets adjusting expectations for rate cuts due to persistent inflation. Despite previous declines, headline inflation accelerated to 3.4% in December, pushing money markets to delay predictions for a rate cut, now seeing a unanimous 25-basis-point reduction by June, with a lesser likelihood of a cut in April.

• More Boeing Problems: The U.S. Federal Aviation Administration (FAA) has issued a safety alert for operators of Boeing 737-900ER jets, advising inspections of door plugs to ensure they are properly secured. This comes after reports of bolt issues during maintenance checks, following a January 5 incident where an Alaska Airlines MAX 9 jet experienced a mid-air panel blowout, leaving a large hole in the aircraft.

• Algoma Steel Falls Apart: Shares of Algoma Steel dropped in Monday morning trading following a weekend incident at their coke-making facility in Sault Ste. Marie. The incident involved the collapse of a structure supporting utilities piping, leading to a coke oven gas main failure, abnormal gas flaring, and air emissions. Additionally, some effluent leaked into an adjacent waterway, with containment efforts in progress.

• Pipeline Merger: Sunoco announced its plan to acquire NuStar Energy in a deal valued at approximately $7.3 billion, including debt. The equity component of this acquisition is around $2.99 billion, with NuStar shareholders set to receive 0.400 of a Sunoco share for each NuStar unit, valuing Sunoco's shares at $23.78 each.

The Houthis' impact on Red Sea trade

The stock market and stuff

• Terraform Labs Files Chapter 11 Bankruptcy Following TerraUSD Collapse (theDeepDive)

• Wilson Racket Maker Seeks as Much as $1.8 Billion in US IPO (Bloomberg)

• Sunoco to buy NuStar Energy in $7.3 billion deal (Reuters)

• Ishares Bitcoin Trust Acknowledges Risks of Stablecoin Market Manipulation (theDeepDive)

• Sony ends $10 billion deal to merge India assets with Zee, plans legal action (Reuters)

In the juniors

• Hercules Silver Plans 20,000 Metre Drill Program For 2024 To Follow Up On Copper Discovery (theDeepDive)

• Brunswick Exploration Sees Winter Drill Program At Mirage Get Underway (theDeepDive)

• Element 29: A Rising Star For The Copper Boom (theDeepDive)

• Adventus Mining Granted Environmental License For El-Domo Copper Gold Project (theDeepDive)

• Libero Copper Set To See Chairman, Director Resign (theDeepDive)

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