Are you dealing with the lost week? Here’s your weekly round-up of the globe’s most important business and investment stories, with insights and analysis, stock tips, portfolio strategies and more.
The Weston family has changed its private investment strategy after the $6.9-billion sale of Selfridges.
Loblaw Cos. Limited’s controlling shareholder, the Weston family owns billions of dollars worth of private equity in Whittington Investments Limited. That massive private portfolio is showing a tremendous turnaround since its $6.9-percent valuation. British luxury retailer Selfridges & Co.’s billion-selling portfolio funds more innovative sectors, including clean energy, early-stage technology companies and disruptive retail and consumer products companies, Sean Silkoff and Susan Kraszynski Robertson report.
The Canadian company Li-Cycle, the leader in EV battery recycling, is ready for a big challenge
At the forefront of the growing lithium-ion battery recycling industry since starting operations in Kingston, Li-Cycle Corporation is facing one of its biggest challenges. The plants that the company has opened (and most of them are in development) are known as “Spokes”, used batteries are broken down to produce black compost, a powdery substance that contains key minerals. Li-Cycle is preparing to open the first of its own “hubs” so that it can sell its minerals. Lee-Cycle CEO Ajay Kochhar made it clear to Adam Radwansky how much he is hanging on to the new hub project – which he hopes will enable the company to be profitable.
Global forces are key to the next level of Canadian inflation.
A new report from Statistics Canada, analyzing inflation over the past few years, shows that the Bank of Canada’s less-regulated earnings growth is adding to the country’s inflationary burden. Commodity prices, global commodity demand and supply chain disruptions have been significant drivers of the country’s inflation, meaning the bank must rely on other central banks’ inflation and foreign economic fluctuations.
Home buyers and homeowners struggle with ‘obnoxiously’ high construction costs
The cost of building homes and apartment buildings in 11 major Canadian cities increased by 54 per cent in the first three months of 2023 compared to the same period in 2019, according to new Statistics Canada data. Despite the easing of supply chains linked to Covid-19, there are labor shortages, materials are still expensive and rising interest rates have increased financing costs for developers. At the same time, demand for new housing remains strong amid record immigration and a strong economy. All this means higher construction costs for buyers and owners, Erica Allini reports.
I hope I’m wrong: why some experts see disaster in AI
Emeritus University of Toronto professor Geoffrey Hinton has been inundated with media inquiries after the superintendent suggested that AI could rule over humanity. In an interview with Joe Castaldo, Prof. Hinton said it was humor and his ability to understand AI that changed some of his core beliefs. In his view intelligence prevails and seeks to dominate. But he refuses to know exactly how AI threatens our existence. “This is uncharted territory and I don’t like to speculate on the details because there are so many ways this could happen,” he said.
How much rent should parents ask for adult children?
Do parents have to pay rent and if so how much? How involved should parents be in their adult children’s finances? These challenging and emotional questions around money are becoming more common across the country. With Canada’s household debt levels at an all-time high, some parents are struggling to shoulder the financial responsibilities of taking their children into adulthood, while also trying to find a middle ground between supporting their children financially and empowering them to “open up” to the real world. The world, Anna Pereira reports.
Now that you’re all caught up, get ready for next week with the Globe Investment Calendar.
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