Wednesday morning news drop
Soaring rents price out some Canadians Interest rates are rising and the house-buying market is cooling off, putting more strain on rentals (CBC)
US Crosses the Electric-Car Tipping Point for Mass Adoption Once 5% of new-car sales go fully electric, everything changes — according to a Bloomberg analysis of the 19 countries that have made the EV pivot. (Bloomberg)
Chaos Is Becoming the Rational Base Case in Market Ruled by Fear: Wall Street’s highest S&P 500 target tops lowest by a rare 50%; The post-pandemic world is hard to predict for Fed, businesses (Bloomberg)
Thirteen ‘Perfect Storms’ That Are Sweeping the World Right Now. How many times can the ‘perfect storm’ happen? Many industries have been hit by a bevy of challenges, leading to shortages, price spikes and other disruptions. On the podcast, the ‘perfect storm’ phrase has been invoked to describe everything from oil, grains, wooden pallets to coffee beans and even the shortage of bathtubs. (Bloomberg)
China’s Economic Engine Is About to Start Shrinking: The nation’s working-age population could decline by two-thirds or more by century’s end, according to new UN projections. (Bloomberg)
The Last Time Inflation Was This High: There was an energy crisis back then just like there is today. The Fed was tightening monetary policy to fight inflation in the early-1980s as well. And people were increasingly unhappy about the economic state of affairs. But there are many differences between now and the early-1980s/late-1970s. (Wealth of Common Sense)
The Case Against Elon: The depths of Musk’s legal troubles are clearly laid out in the complaint that Twitter’s attorneys filed in Delaware this week. The legal war is just starting. (Puck)
Twitter’s Suit Against Elon Musk: What Twitter’s 62-page lawsuit does is blow open a lot of the secrecy around the deal, which has already been subject to leaks (primarily from Musk himself) and endless speculation. Here are some of the biggest revelations from the suit. (New York Magazine)
How Hockey Canada used registration fees to build a fund to cover sexual-assault claims Special multimillion-dollar fund financed by registration fees of players across the country used to settle abuse claims with minimal outside scrutiny (Globe and Mail)