Wednesday morning news drop
B.C. budget projects billion dollar deficits in each of the next 3 years as part of COVID-19 Total debt to rise from $87 billion to $127 billion in the next 3 years (CBC)
B.C. Budget 2021: The winners in government pandemic spending spree Construction and health workers to benefit from B.C. budget (Vancouver Sun)
Bank of Canada Set to Dial Back Bond Buying: Decision-Day Guide The Bank of Canada is poised to pare back its asset purchases amid a stronger-than-expected economic recovery, taking one of the biggest steps yet by a developed country to reduce emergency levels of monetary stimulus. (Bloomberg)
Companies can’t stop talking about higher costs Pent-up demand due to the pandemic and elevated household savings suggest price increases in certain end markets may be digested initially, but for how long? While it’s premature to draw conclusions around corporates’ ability to pass on costs into the reopening, we think this is a potential risk to margin expectations worth monitoring. (yahoo.finance)
Why Should Equities Be Fairly Valued? Cheap or expensive: The underlying view seems to be ‘the market’ will identify this anomaly, creating the opportunity to profit from a revaluation. This presumes most investors are engaged in an effort to calculate the fair value of an asset, they are just coming up with different answers. This is some distance from reality. (Behavioural Investment)
Super League on verge of extinction Atletico Madrid, Inter Milan, Juventus, and AC Milan all drop out on Wednesday (CBC)
Battle Over Super League Begins With Letters, Threats and Banners The founding members of a league that would reshape soccer have warned the sport’s leaders that they will fight any effort to block their plans (New York Times)
You Are In or You Are Out,’ FIFA Tells Super League Clubs As opposition mounts to a breakaway European league, Paris St.-Germain opted out and an Italian team president called a rival backing the plan “a Judas.” (New York Times)
Boxing industry's issues will remain long after the novelty of Jake Paul wears off
Popular novelty bouts don't affect boxing's entrenched self-sabotage habit (CBC)
The state of the plant-based food industry Plant-based meat sales grew by 45 percent and plant-based milk sales were up 20 percent from 2019. We’re eating more meatless meat than ever, but it’s still not much. (Vox)
Netflix Is Losing Market Share. But Is It Losing Customers? Netflix’s share of the online video market is shrinking. That’s the takeaway from two new reports out this past week, the first of which comes from Parrot Analytics, a startup that measures audience interest in online TV shows. According to Parrot, Netflix accounted for about half of the original series people around the world wanted to watch online in the first quarter of 2021. (Bloomberg)
Vans Announces New Sustainability Goals and Initiatives Vans recently announced new global commitments to environmental sustainability and responsibility that will be achieved by 2030. Vans will move towards creating circular products and systems that use regenerative and recycled materials, designed to reduce waste and keep products in use and out of landfills. (Kicks on Fire)