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The Purge: Xi Jinping Edition

A different plague is sweeping over China’s highly secretive government: mysterious deaths and disappearances. Politico reports that hundreds of government and military officials have gone missing in a purge that once again conjures comparisons to Russia’s Joseph Stalin.

“Since his reign began in 2012, Xi Jinping’s endless purges have removed millions of officials — from top-ranked Communist Party ‘tigers’ down to lowly bureaucratic ‘flies,’ to use Xi’s evocative terminology,” Politico wrote.

But this wave of purges is bolder, with targets coming from not just the opposition, but also from within his inner circle — including high-ranking members hand-picked by Xi himself. Recent high-profile disappearances include former foreign minister Qin Gang, who has not been seen since July, and former defense minister Li Shangfu who was officially removed from his post in October but had disappeared earlier.

You can read more on the matter here.

What’s going on?

• Canada’s CPI Holds Steady At 3.1% In November (theDeepDive)

• Macklem Sees Bank of Canada Cutting Rates Sometime in 2024 (Bloomberg)

• Iceland Volcano Erupts After Weeks of Seismic Activity (theDeepDive)

• Statistics Canada reports record population growth in Q3, population grows by 430,000 (BNN)

• Canada Poised to Mandate Zero-Emission Cars by 2035 in New Electric Vehicle Standard (theDeepDive)

• Senator ‘disappointed’ in staffer allegedly filmed having sex in hearing room (TG)

• A Car Dealership in California Is Using ChatGPT for Customer Support, and People…Took Advantage (theDeepDive)

• Your Devices Are Listening To You, Claims Media Agency (theDeepDive)

• An earthquake in northwestern China kills at least 127 people and is the deadliest in 9 years (CNBC)

• Borrowers Turned to Nonbank Lenders for Mortgages — And It’s Costing Them (Bloomberg)

• Canada To Join Red Sea Mission Despite The Lack Of Capability (theDeepDive)

What’s the latest?

• November Inflation Print: In November 2023, Canada's inflation rate held steady at 3.1% from a year earlier, aligning with October's rate. This steadiness was unexpected, as forecasts predicted a slight decrease. On a monthly basis, the index rose by 0.1%.

• Population Boom: Canada experienced its fastest pace of population growth in a single quarter since 1957, with an increase of over 430,000 people in the third quarter, bringing the total population above 40.5 million. This surge surpassed the total growth of any full year, including the previous record set in 2022. The growth is primarily attributed to international migration, contributing to an increase of approximately 313,000 people in this category.

• Forced EV Sales: Canada's Environment Minister, Steven Guilbeault, is set to detail plans for phasing out the sale of gas-powered vehicles in the country. Regulations to be published later this week will introduce a mandate for auto manufacturers, requiring that by 2026 at least 20% of their vehicle sales must be fully electric or plug-in hybrids. This requirement will increase to 60% by 2030 and reach 100% by 2035, meaning all vehicles sold in Canada will need to be zero-emission.

• Google Settlement: Alphabet's Google has agreed to a $700 million settlement to resolve antitrust claims brought by U.S. states and consumers. The settlement includes a $630 million fund for consumers and a $70 million fund for states. This agreement follows accusations that Google imposed unlawful restrictions on app distribution on Android devices and charged excessive fees for in-app transactions, although Google did not admit to any wrongdoing.

• Kia’s Sales Problem: Kia Canada is reportedly withholding new vehicles from its Ontario dealerships, and possibly across the country, as part of a strategy to manipulate its sales numbers for the year. According to a video obtained by Go Public, not all vehicles will be released to dealerships despite being in country, with some remaining in storage until the new year. This approach aims to control the company's wholesale and retail performance for 2023, preventing the appearance of overachievement in the eyes of Kia's headquarters in Korea.

The unseen struggles of international students in Canada

The stock market and stuff

• Alphabet, States Reach $700 Million Deal in Google Play Feud (BNN)

• IBM aims to boost AI offerings with $2.3B acquisition (FOX)

• Organigram Shares Slump On Q4 2023 Financials: Net Loss Widens By 437% (theDeepDive)

• Toshiba to be delisted after 74 years, faces future with new owners (Reuters)

• Apple Races to Tweak Software Ahead of Looming US Watch Ban (Bloomberg)

In the juniors

• Alaska Energy Metals Hits 310 Metres Of 0.32% Nickel Equivalent At Nikolai (theDeepDive)

• Verses Pens Open Letter To OpenAI For AI Collaboration (theDeepDive)

• Skeena Resources Announces Flow Through Financing Hours After Closing Financing Package With Franco-Nevada (theDeepDive)

• First Lithium Acquires New Ontario Project, Expands LSL (theDeepDive)

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