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Are Manulife and Loblaws in cahoots?

A recent announcement by Manulife Financial’s (TSX: MFC) has sparked concerns among pharmacare policy experts as the firm plans some changes to its coverage of certain prescription drugs, limiting access to medications through a preferred pharmacy network arrangement with Loblaw Cos. Ltd (TSX: L).

While the company contends that the transition, effective from January 22, is aimed at enhancing services for plan holders, critics argue that it may lead to reduced competition and limited options for patients.

You can read more on the matter here.

What’s going on?

• What Happens Now To Twitter Purchase After Judge Rules Elon Musk’s $55-Billion Tesla Pay Void? (theDeepDive)

• Oil poised for first monthly gain since September as Middle East on brink of wider conflict (CNBC)

• Universal Music To Pull Music From Taylor Swift, Harry Styles, Billie Eilish, and More On TikTok After Failing To Reach A Deal (theDeepDive)

• Fed to Hold Interest Rates Steady But Start Considering Cuts (Bloomberg)

• Evergrande Ordered To Liquidate: Is Chinese Property Market Price Discovery Coming Soon? (theDeepDive)

• How the US is preparing for a Chinese invasion of Taiwan (Reuters)

• Ontario To Refurbish Four Reactors At Pickering Plant (theDeepDive)

• Block and PayPal Are Cutting Staff (WSJ)

• Ottawa to Offer Low-Cost Construction Loans to Build More Student Housing (theDeepDive)

• Social media CEOs face Senate grilling on child safety (ABC)

• Two Canadians Implicated In Iranian Transnational Assassinations Network (theDeepDive)

What’s the latest?

• Post-Secondary Cries Foul: Two organizations representing 234 post-secondary institutions, Colleges and Institutes Canada and Universities Canada, have expressed "significant concern" about the federal government's decision to cap the number of student permits for the next two years. The cap, aimed at addressing allegedly under-resourced campuses, will result in a 35% reduction in approved undergraduate study permits for 2024.

• Canada GDP: The Canadian economy rebounded strongly in the final quarter of 2023, with GDP growing 0.3% in December, according to preliminary estimates from Statistics Canada. This follows a 0.2% expansion in the previous month, surpassing forecasts. The industry-based numbers indicate an annualized growth rate of 1.2% in the final three months of 2023, reversing a third-quarter contraction.

• PGA Investment: The PGA Tour is set to receive a $3 billion investment from Strategic Sports Group (SSG). The deal will result in the creation of PGA Tour Enterprises, with SSG as a minority partner. The move aims to give players access to over $1.5 billion as equity owners in the new entity. PGA Tour Commissioner Jay Monahan highlighted that making PGA Tour members owners of their league strengthens the collective investment of players in the success of the tour.

• Musk Loses: A Delaware judge has invalidated Elon Musk's record-breaking $56 billion pay package from Tesla, calling it "an unfathomable sum" that was unfair to shareholders. The judge found that the share-based compensation was negotiated by directors who appeared beholden to Musk. This ruling nullifies the largest pay package in corporate America.

• Desjardins Cuts: Desjardins Group plans to reduce its service centres and ATMs by 30% before 2027. The decision was made after analyzing the frequency of use of these outlets. Boards overseeing the 200-plus credit unions that make up Desjardins will decide which centres and ATMs in Quebec and Ontario will shut down.

The unseen struggles of international students in Canada

The stock market and stuff

• DOJ Announces Charges in $1.9 Billion HyperFund Cryptocurrency Ponzi Scheme (theDeepDive)

• H&M Replaces CEO as Shares Drop on Lackluster Earnings (WSJ)

• Novo Nordisk Begins Gradually Increasing Supply of Blockbuster Weight-Loss Drug Wegovy (WSJ)

• Sigma Lithium Improves Resource Estimate By 27% (theDeepDive)

In the juniors

• Global Helium Hits 1.1% Helium At Manyberries, Completes Earn-In Arrangement (theDeepDive)

• Collective Mining Hits 1.17 g/t Gold Over 497 Metres In New Gold Discovery (theDeepDive)

• Aurora Cannabis To Conduct 10 To 1 Reverse Split To Meeting Nasdaq Listing Requirements (theDeepDive)

• ATHA Energy Samples 11.3% U3O8 In Boulder Train (theDeepDive)

• Patriot Battery Metals Moves Listing From Venture To TSX Big Board (theDeepDive)

• First Phosphate Reveals 25,000 Metre Drill Program For Begin-Lamarche (theDeepDive)

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