Good evening, let’s start with today’s top stories:
As Russia’s invasion of Ukraine enters its third month, Canada’s government says it plans to give itself the power to sell off foreign assets seized by sanctions and turn them over to affected victims or pay for rebuilding warn-torn countries, reports Steven Chase.
This could mean that funds or property seized from Russia could be paid out to help in the rebuilding of Ukraine or to compensate those affected by Moscow’s invasion.
The change would make Canada’s sanctions laws the first among Group of Seven countries to allow this course of action.
Meanwhile, Russian oligarch Igor Makaro recently avoided Canada’s sanctions by selling a $121.5-million stake in oil and gas producer Spartan Delta Corp. just days before being targeted by Ottawa. Makaro’s move demonstrates the difficulties governments face in trying to influence Russian policy with sanctions, according to experts.
As the conflict in Europe continues, the U.S. announced that it will send more heavy weaponry to Ukraine, during talks at a German air base on Tuesday.
Read more:
- Opinion: Building a war-crimes case against Vladimir Putin
- UN ambassador Bob Rae condemns Security Council veto after historic General Assembly vote
- Busking helped reunite this Ukrainian refugee with her 10-year-old brother in Poland
Ryerson will be called Toronto Metropolitan University after board approves name change
Ryerson University will change its name to Toronto Metropolitan University after approval by the institution’s board of governors in a meeting on Tuesday afternoon.
The Toronto Metropolitan name was recommended by Ryerson president Mohamed Lachemi from a shortlist developed by a committee of professors, administrators, students and alumni.
The process to rename the school began last year after a task force examined the legacy of the university’s namesake, 19th-century educational reformer Egerton Ryerson.
Due to Ryerson’s connection to the establishment of residential schools in Canada, the task force decided his name had become linked for many people with a system that that has been called an act of cultural genocide, because it forcibly separated Indigenous children from their families.
The new name, says Dr. Lachemi, reflects the wishes of community members who said they wanted to highlight the university’s location and its values.
Questions remain over whether Elon Musk can deliver on his vision for Twitter after deal
Elon Musk’s vision for improving the 16-year-old company leans heavily on a pledge to make speech “as free as reasonably possible” on the platform. While some celebrate that vision, others worry that Musk’s leadership will encourage agitators who spew hate and harmful content, making the platform too toxic for advertisers and average users.
Musk hasn’t offered too many assurances on that front and experts who have studied content moderation and researched Twitter for years have expressed doubt that Musk knows exactly what he is getting into.
- Explainer: Why is Elon Musk buying Twitter? What you need to know about the $44-billion deal
- RBC and CIBC join banking group helping to finance Elon Musk’s bid for Twitter
- Musk’s Twitter deal could test Tesla executive bench
This is the daily Evening Update newsletter. If you’re reading this on the web, or it was sent to you as a forward, you can sign up for Evening Update and more than 20 more Globe newsletters here. If you like what you see, please share it with your friends.
ALSO ON OUR RADAR
Analysis: Why Germany is looking to Canada for hydrogen: Hydrogen is where Germany is pinning hopes for both long-term energy security and transition to a greener economy. The country won’t be able to produce nearly enough on its own, and is eyeing what it sees as a potentially abundant Canadian supply.
The royals’ itinerary: Prince Charles and his wife Camilla will visit St. John’s, Ottawa and the Yellowknife area when they come to Canada in May during a trip filled with military ceremonies and meetings with Indigenous communities.
Can Canada compete in the battery metal industry?: Despite big developments in the battery metal industry, Canada lacks much of the infrastructure it would need in order to compete with the world’s battery behemoths, writes Niall McGee.
Air Canada’s revenue more than triples: The airline reported first-quarter financial results Tuesday and said revenues rose to $2.6-billion from $729-million in the same period of 2021, as passengers resumed flying, albeit in smaller numbers than in prepandemic days.
Jeopardy! champ Mattea Roach makes her family proud: Toronto-based tutor Mattea Roach held onto her streak last night – the eighth longest in “Jeopardy!” history – putting her one win closer to ascending through the ranks of the quiz show’s all-time greats.
MARKET WATCH
North American stock markets ended sharply lower on Tuesday, with the Nasdaq closing at its lowest since December 2020, as investors worried about slowing global growth and a more aggressive Federal Reserve.
The Dow Jones Industrial Average fell 809.28 points or 2.38% to end at 33,240.18 points, while the S&P 500 fell 120.92 points or 2.81% to 4,175.2.
The Nasdaq Composite dropped 514.11 points or 3.95% to 12,490.74.
The Canadian benchmark stock index was swept up in the selling, falling for its fifth day in a row and hitting its lowest level in nearly three months. The S&P/TSX composite index ended down 321.08 points, or 1.5%, at 20,690.81.
The Canadian dollar was trading 0.6% lower at 1.2805 to the greenback, or 78.09 U.S. cents, after touching its weakest level since March 15 at 1.2827. It was the fourth straight day that the loonie lost ground.
Got a news tip that you’d like us to look into? E-mail us at tips@globeandmail.com. Need to share documents securely? Reach out via SecureDrop.
TALKING POINTS
First Nations court case in B.C. could be Canada’s game-changer
“Canadians should follow the Nuchatlaht trial closely, as it could represent the first tile in the Aboriginal rights game of dominos. A court’s recognition of Indigenous title and empowerment of First Nations governments would have national repercussions.” – Ken Coates
Canada has a major role to play in advancing global COVID-19 vaccine equity
“As the Canadian government has repeatedly stated, this crisis isn’t over anywhere until it is over everywhere. It is time we backed up words with the requisite action.” – Stan Houston and Stephanie Yanow
‘Disease X’ is inevitable. Another global pandemic is not
“While there will always be an element of unpredictability when faced with disease outbreaks, let’s take charge of what is in our control and what we can predict for through a new pandemic treaty. There will be no excuses the next time around.” – Kim Campbell
LIVING BETTER
How crucial are warm-ups and cool-downs when it comes to exercising? And what makes a good one? In theory, raising the temperature of your muscles should offer many benefits, enhancing blood flow and oxygen delivery to improve your performance. But more isn’t always better. Warm-ups can be helpful but could also burn valuable energy you need later. Alex Hutchinson shares how to find the right balance.
TODAY’S LONG READ
This fishing captain is combining Inuit knowledge with scientific expertise to fight climate change in the Far North
The sea ice begins to break off the coast of Labrador, 2022Jamie Pye/The Globe and Mail
Inuit fishing captain Joey Angnatok is an important part of the global effort to monitor the effects of climate change in the Far North, which has been more severely affected than the rest of the world by rising temperatures. He uses both a traditional Inuit spear as well as modern sensor technology to determine the thickness of the ocean’s frozen surface in Nunatsiavut, on the northeastern edge of Labrador. The ever-shrinking measurement indicates the terrifying progress of climate change in the Far North. In the off-season, when Angnatok isn’t fishing, he operates his 60-footer as a marine research vessel, working with scientists to collect data that help with long-term tracking of sea ice and wildlife trends. His Inuit knowledge and science skills kept afloat many research projects that would have otherwise not been able to continue during COVID-19. Read the full story about Angnatok and his work.
Evening Update is written by Prajakta Dhopade. If you’d like to receive this newsletter by e-mail every weekday evening, go here to sign up. If you have any feedback, send us a note.