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LimeWire Buys Fyre Festival Brand

File-sharing service LimeWire has acquired the infamous Fyre Festival brand for $245,000, the company announced Tuesday, promising to revive the disaster-plagued name with “real experiences” and transparency.

The purchase unites two companies with troubled digital histories, as LimeWire seeks to rehabilitate both its own legacy and that of the failed 2017 luxury music festival that became a symbol of influencer marketing gone wrong.

“We’re not bringing the festival back — we’re bringing the brand and the meme back to life,” said Julian Zehetmayr, CEO of LimeWire. “This time with real experiences, and without the cheese sandwiches.”

You can read more on the matter here.

What’s going on?

• Magnitude 7.8 Earthquake Strikes Russia’s Kamchatka Peninsula, Triggers Brief Tsunami Advisory (theDeepDive)

• Canada focused on tariff relief as it begins consultations on USMCA review, LeBlanc says (Globe)

• U.S. Plans $6 Billion in New Arms Sales to Israel (WSJ)

• Government Keeps Dental Plan’s Real Costs Hidden From Taxpayers (theDeepDive)

• Trump and Xi to meet in South Korea as US president hails TikTok deal (FT)

• Document Purports to Show Russian Senators Warning Putin About Economic Crisis (theDeepDive)

• Bank of Japan keeps interest rates steady, decides to start selling ETFs - as it happened (Reuters)

What’s the latest?

• Business: Cenovus offered MEG shareholders a 72% cash, 28% stock deal valued at $28.44 per share, a 39% premium to May prices and the highest ever for a pure-play steam-driven oilsands asset. Rival Strathcona’s revised hostile bid is 0.80 shares per MEG share, worth $30.86 when announced, with MEG holders owning 43% of the combined firm versus only 4% under Cenovus. Cenovus says its offer provides certainty, scale, and synergies, while Strathcona calls it “lopsided.” MEG’s board unanimously backs Cenovus ahead of an Oct. 9 shareholder vote.

• Neuralink: Two Canadian patients at Toronto’s University Health Network received Neuralink brain implants in the first trial outside the U.S., aiming to help people with paralysis control devices by thought. Critics object to partnering with Elon Musk’s company, citing his role in slashing U.S. foreign aid programs that The Lancet says could cause 14 million deaths in five years. Supporters argue patient benefit should outweigh politics, though concerns remain over Neuralink’s transparency and risks. The trial will recruit up to six participants with spinal cord injuries or ALS.

• Tariffs: Canadian auto exports were hit with over US$380M in tariffs in July, as U.S. levies took effect. Of the US$1.1B total tariffs on Canadian and Mexican vehicles, more than US$311M targeted Canadian autos and US$72M applied to parts. Only 36% of Canadian vehicles qualified for exemptions under CUSMA, down from 99% in prior months. Analysts warn these costs will soon raise consumer prices.

• Retail Sales : Canadian retail sales fell 0.8% to $69.6B in July, with declines in eight of nine subsectors, led by a 2.5% drop at grocery stores. Core retail sales slipped 1.2%, while vehicle and parts dealers rose 0.2%. StatsCan’s advance estimate points to a 1% rebound in August, though revisions are expected. Economists warn slowing jobs and wages could drive further consumer pullbacks in Q3.

• Politics: A federal judge in Florida dismissed Trump’s $15B defamation lawsuit against The New York Times as “improper,” citing its 85-page length filled with political rhetoric instead of legal claims. Judge Steven Merryday gave Trump 28 daysto refile a streamlined complaint, capped at 40 pages. The case also targets four Times reporters and Penguin Random House over a critical book. The Times said the suit lacks merit and vowed to defend press freedom.

First Majestic's Los Gatos Mine

The stock market and stuff

• Anglo American CEO Says No To Redomiciling To Canada For Teck Acquisition (theDeepDive)

• Nvidia Poised To Take 4% Equity Stake In Intel With $5B Investment (theDeepDive)

• Blackstone $135-billion bet on the U.K. is raising eyebrows (CNBC)

• Newmont Sells Stake In Orla Mining For $605 Million (theDeepDive)

In the juniors

• Perpetua Resources Sees US Forest Service Permit Stibnite Gold Mine Development (theDeepDive)

• Why $10K Gold No Longer Sounds Crazy | Dan Wilton – First Mining Gold (theDeepDive)

• The Pure Silver Set Up! | Joaquin Marias – Argenta Silver Corp (theDeepDive)

• Why $30,000 Gold Isn’t Crazy! | Simon Marcotte – Northern Superior (theDeepDive)

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