Good evening, let’s start with today’s top stories:
RCMP Commissioner Brenda Lucki told her counterpart in the Ontario Provincial Police that the federal government could ask them for a letter of support for the Emergencies Act after it had been invoked.
Text messages between Commissioner Lucki and OPP Commissioner Thomas Carrique were tabled at the inquiry studying the use of the sweeping legislation on Thursday.
In the texts spanning three weeks in February, Commissioner Lucki warned Commissioner Carrique that the government was considering invoking the Emergencies Act a week before it was used. Then days after Prime Minister Justin Trudeau made the public-order emergency declaration she suggested the federal government could ask for a letter of support for the act from the OPP.
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Ukraine attacks Russia’s hold on southern city of Kherson
Ukrainian forces attacked Russia’s hold on the southern city of Kherson on Thursday while fighting intensified in the country’s east. The battles came amid reports that Moscow-appointed authorities have abandoned the city, joining tens of thousands of residents who fled to other Russia-held areas.
Ukrainian forces were surrounding Kherson from the west and attacking Russia’s foothold on the west bank of the Dnieper River, which divides the region and the country.
As the battles unfolded, Russian President Vladimir Putin said that Moscow has no intention to use nuclear weapons in Ukraine, despite repeatedly warning that he was prepared to use all available means to defend Russia, including its nuclear arsenal.
- Soldiers raise the Ukrainian flag at reclaimed Borova, but its recovery will take time
- In its latest rivalry with Russia, the U.S. wins a West African promise
- Opinion: The longer the war in Ukraine continues, the likelier a Russian collapse grows
Shopify posts higher quarterly revenue and lower net loss than anticipated, raising shares significantly
Shopify Inc. posted a higher quarterly revenue and lower net loss than was widely anticipated by financial analysts, injecting optimism for shareholders who have seen the e-commerce company’s stock lose more than 75 per cent of its value this year.
On Thursday, the Ottawa company reported its revenue was up by nearly 22 per cent from last year to US$1.4-billion in the third quarter of 2022. Analysts had expected revenue to peak at US$1.3-billion this past quarter.
Shopify also saw a loss of 2 cents per share on an adjusted basis, which is much lower than the loss of 7 cents that was expected, according to consensus analyst estimates. Gross merchandise volume (GMV), a figure that shows the value of sales through Shopify’s platform, reached US$46.2-billion in the third quarter, growing by 11 per cent from last year, though slightly behind estimates of US$46.8-billion.
ALSO ON OUR RADAR
Ottawa’s deficit is smaller: The federal deficit for the 2021-22 fiscal year was $90.2-billion, down from $327.7-billion the year before during the height of the pandemic, according to official figures released Thursday in the Public Accounts of Canada.
Border agency clarifies which company received $1.2-million contract for ArriveCan work: The Canada Border Services Agency has revealed that it was Microsoft, not ThinkOn, that received a $1.2-million contract related to the ArriveCan app, but the agency says it will take until next week before it can announce the results of its full review of related contracts.
Brazil’s election approaches: Analysts predict that win or lose, Jair Bolsonaro’s legacy and influence, as well as Bolsonarism – his far-right populist movement – will remain a strong political force in the country.
Overheating rivers threatening Newfoundland’s wild Atlantic salmon: Anglers say the water in the Gander River has been noticeably balmy, part of a warming trend. In temperatures above 23 C, Atlantic salmon can become stressed, and anything beyond 28 C can be lethal.
Iran leaders try to link protests to gun attack killing 15: Iran’s supreme leader and its president tried to link the nationwide protests roiling the country to an Islamic State-claimed gun attack on a famous mosque that killed 15 people.
Prince Harry memoir: Britain’s Prince Harry’s memoir will be published on Jan. 10 with the title “Spare” and will tell with “raw unflinching honesty” his journey from “trauma to healing”, publisher Penguin Random House said on Thursday.
MARKET WATCH
The S&P 500 and the Nasdaq posted losses on Thursday, as investors juggled solid economic data and a mixed spate of corporate earnings.
The TSX ended with a modest gain of 72.35 points or 0.38 per cent at 19,352.11.
In New York, the Dow Jones industrial average was up 194.17 points or 0.61 per cent at 32,033.28. The S&P 500 index was down 23.30 points or 0.61 per cent at 3,807.30, while the Nasdaq composite was down 178.32 points or 1.63 per cent at 10,792.67.
The Canadian dollar traded for 73.82 cents US, compared with 73.72 cents US on Wednesday.
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TALKING POINTS
California’s homelessness disaster is a cautionary tale for us all
“What we are witnessing in California is what happens when society fails to grapple effectively with a huge, difficult problem.” – Gary Mason
The Trudeau government wants to regulate like it’s 1968
“The internet may have turned everything upside-down in the world of media, erasing borders, distance, spectrum scarcity and marginal cost, but inside Liberal Ottawa it is forever 1968.” – Andrew Coyne
Why do we allow Ontario’s Catholic school system to violate the Charter?
“In this province, children who cannot prove Catholicity may not be granted admission to publicly funded elementary schools (though some boards have relaxed their policies in recent years), and teachers who are otherwise fully qualified will be denied teaching positions if they belong to the wrong faith.” – Robyn Urback
LIVING BETTER
Vacation in Quebec City & Mont-Sainte-Anne
The Globe’s Jordan Chittley took his family on a ski vacation to Mont-Sainte-Anne in Quebec and his two daughters had so much fun, they cried on the drive back because they were sad to leave. The ski resort is about a nine-hour drive from Toronto and an adult day ticket costs $129. There are also options for half-day and night skiing. If you’re wondering where to stay, the Delta Mont-Sainte-Anne Resort is the closest building to the gondola and is maybe a 50-metre walk. Read the rest of Chittley’s family vacation experience and his tips on how to make the most of the ski resort offerings.
TODAY’S LONG READ
A&W CEO Susan Senecal won’t let a recession slow down the burger chain’s expansion
Susan Senecal CEO of A&WPooya Nabei/Supplied
Just a few years ago, you might have said that A&W’s prospects were sizzling. The first quick-service restaurant (QSR) in Canada held down second place in the burger-chain hierarchy, after McDonald’s. It had a bigger share of the market than Wendy’s and Burger King put together. And it had a major hit on its hands with its Beyond Meat Burger, a continent-wide first, which helped the brand make inroads with millennials. But the COVID-19 pandemic hit A&W harder than most QSR chains. Now CEO Susan Senecal –a 30-year A&W veteran – has some ground to make up, just as ill winds threaten to snuff the economy’s flame.
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.