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Trudeau to lead investigation on Chinese interference

The Canadian government, through Order P.C. 2023-883 dated September 7, 2023, has officially designated the inquiry on China’s possible interference with Canadian elections. The order sets the motion of the Public Inquiry into Foreign Interference in Federal Electoral Processes and Democratic Institutions as a department under the Financial Administration Act.

The catch: Prime Minister Justin Trudeau has been appointed as the appropriate minister for this commission.

This move has raised eyebrows, as Trudeau has designated himself as the Governing Minister of the inquiry, thereby giving him authority over every aspect of the investigation into alleged foreign interference in federal electoral processes.

You can read more on the matter here.

What’s going on?

• Biden Administration Announces $6 Billion in Funding for High-Speed Rail Projects in the US West (theDeepDive)

• Venezuela Gives ExxonMobil 90 Days To Leave Disputed Waters Off Guyana Coast (theDeepDive)

• Salesforce Signals the Golden Age of Cushy Tech Jobs Is Over (Bloomberg)

• FabFitFun Tried to Go Anti-Woke and Of Course It Backfired (theDeepDive)

• China's exports grow for first time in 6 months in relief for factories (Reuters)

• Ontario Gov’t Employee Who Stole $47.4 Million Repaid $30 Million, To Serve Up To 10-Year Jail Sentence (theDeepDive)

• Mountain Dew Makes a 4chan Joke Come True with New AI-Powered Marketing Campaign on Twitch (theDeepDive)

• Biden forgiving nearly $5B in student loan debt just in time for the holidays (FOX)

• Canadian Produce May Now Be Cheaper in the US Thanks to ‘Galen Weston Math’ (theDeepDive)

• Elon Musk’s Startup X.AI Files for $1 Billion Equity Offering… Or Is It A Rescue Plan For X? (theDeepDive)

• Russian spies targeting politicians with ‘malicious’ cyber campaign to undermine democracy, UK says (CNBC)

• CBC President Doesn’t Rule Out Bonuses for Executives Despite Cutting 600 Jobs (theDeepDive)

What’s the latest?

• Liberals Target Oil: Canada's oil and gas industry is facing a significant emissions reduction requirement, with a new federal policy mandating cuts of 35 to 38 per cent from 2019 levels by 2030. While industries can utilize offset credits or contribute to a decarbonization fund to lower this requirement to a 20 to 23 per cent reduction, the move is a historic step in Canadian environmental policy.

• Grocery Basket Costs To Rise: Food prices in Canada are projected to continue rising in 2024, but at a slower pace compared to previous years, as per the latest Food Price Report by several Canadian universities. While overall food inflation is expected to moderate, the report anticipates that prices for bakery, meat, and vegetables will see the most significant increases, ranging from five to seven percent.

• US Jobless Claims Rise: Last week, U.S. initial jobless claims rose slightly to 220,000, reflecting a modest increase in unemployment benefits claims. This data aligns with reports of a gently slowing labor market due to heightened borrowing costs. Unadjusted claims also saw an uptick, rising by 93,761 to 293,511, with notable surges in claims in states like California, New York, Texas, and Georgia.

• Canada Focuses On Renewables: The Canadian government is streamlining the development of offshore wind projects along the Atlantic coast, transferring control of land tenure and regulation for these projects to Newfoundland and Labrador's provincial government. This move, part of efforts to boost renewable energy, aims to reduce regulatory duplication and create a more stable investment environment.

• US Targets High Drug Costs: The Biden Administration has introduced a new policy that enables the government to seize patents for medications developed with federal funding if they are priced excessively. This policy outlines the government's "march-in rights," a previously unused authority that permits granting additional licenses to third parties for federally funded products if the original patent holders fail to offer them at reasonable prices.

A cure for that hangover?

The stock market and stuff

• Wall Street Says GTA VI Could Be Released As Early As March 2025 (theDeepDive)

• Google shares pop 5% after company announces Gemini AI model (CNBC)

• Jack Dorsey’s Block Furthers Bitcoin Foray With New Hardware Wallet (Bloomberg)

• Laurentian bank misses every financial target, will take restructuring charge (BNN)

• PayPal shares slide after Amazon drops Venmo as payment option (CNBC)

In the juniors

• ATHA Energy To Acquire Two Uranium Issuers To Create Leading Canadian Explorer (theDeepDive)

• First Phosphate Enters MOU With Lithium Australia For Joint Development Of LFP Facilities (theDeepDive)

• Curaleaf Receives Approval For TSX Listing (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.