Good morning! Today, we’re looking ahead, with stories on what AI will bring, what fresh hell might come in the trade wars, where the U.S. oil industry might be headed, and what plans tech giant Salesforce might have in mind for Canada. And there’s a cannabis financing story, surprisingly with the till-now reticent Desjardins. Read on.
EYES ON THE PRIZE
Never mind all the cannabis hype — the real buzz is around AI. Artificial Intelligence will reshape entire industries, Kevin Carmichael
writes; tens of thousands of jobs will be taken over by computers and (hopefully) at least as many will be created in the process. Remember how cryptocurrencies and blockchains were going to change the world in 2017? Exactly.
NEW TRADE WEAPON
Here’s a story of the nuclear-missile commander versus the Saskatchewan premier, involved in the debate over proposed U.S. curbs on uranium imports. Tom Blackwell writes that uranium has been largely overlooked in Trump’s trade wars, but many are now saying that quotas on uranium from here would not only hurt a viable Canadian export but actually undermine U.S. national security, as it would send buyers to less-than-secure countries.
THE BIG SLICK
A 14-year-long oil spill in Gulf of Mexico verges on becoming one of the worst in U.S. history. Since 2004’s Hurricane Ivan caused an undersea landslide, up to 700 barrels of oil a day has been leaking, and may do until the end of the century. Yet the Trump administration wants to open up the largest expansion ever of leases for oil and gas, including possibly most of the outer continental shelf (which has been off limits for more than a century and where hurricanes are far more frequent than in the Gulf).
DRIVING FORCE
Why is tech giant Salesforce cozying up to Canada? Co-chief executive Keith Block says its relationship with Canada goes far deeper than money, that it’s more about our mutual value-based cores. But, with Block’s promise of increased investment here, some local companies are wary of its growth, fearing it will poach customers, startups and talent in an already tight labour market. So what will happen from here?
RISK AVERSE
Desjardins has softened its stance on the cannabis industry after initially closing the door on any involvement whatsoever. Canada’s biggest financial co-operative is now accommodating clients who want to participate in the industry, Geoff Zochodne reports, whether through lines of credit, mortgages or long-term loans. But for now, the company’s a little unsure of putting money into the capital markets. “Do we want to invest in this market? Do we want to be a leader in this market? Totally, no,” CEO Guy Cormier said. “But we will be there to do business with members and clients that we know very well.”