Friday morning news drop
Affordability target demands 570,000 new homes in B.C. Builders face an "insurmoutable challenge" without government support, an industry analysis finds (Western Investor)
Why the 1 Percent Buyback Tax Doesn’t Scare Investors: Democrats hope the tax will encourage companies to spend more on workers and operations, but strategists think it’s unlikely to deter corporations from repurchasing their stock. (New York Times)
4 Common Sense Rules of Investing: Almost 60% of all calendar years have seen gains in excess of 10%. More than one-third of all years have experienced returns of 20% or more. So you’ve been more likely to gain 20% or more than experience a down year in that time. (A Wealth of Common Sense)
Five Not-Quite-Impossible Things the Market Believes The two month rally in bonds and stocks—even putting the Nasdaq back into bull market territory—rests on a lot of people being wrong. (Wall Street Journal)
They Lost Crypto in the Crash. They’re Trying to Get It Back. In a frenzied effort, investors are trying to recover lost funds from Celsius Network, a crypto firm that imploded this summer. (New York Times)
Defamation Suit About Election Falsehoods Puts Fox on Its Heels: The suit, filed by Dominion Voting Systems, could be one of the most consequential First Amendment cases in a generation. (New York Times)
How many Russian soldiers have been killed in Ukraine? What we know, how we know it and what it really means: The estimates range from 1,351 and 43,000, but this much is clear: Russia has a manpower problem. (Grid)
The Squeeze on Russia Is Loosening: The latest numbers from the major manufacturing powers suggest that exports to Russia are rising. Exports to Russia from the major manufacturing economies have been rising rapidly since April. If the allies do not act swiftly to tighten the enforcement of sanctions and export controls, the Russian military may be able to replenish its losses of equipment and advanced ammunition—and prolong the war. (The Overshoot)
Gavin Newsom’s plan to save the Constitution by trolling the Supreme Court: A new California gun law should force the Supreme Court to confront the enormity of its worst decision in decades. (Vox)
LeBron James extension means the Lakers need to do whatever it takes to win now: The Lakers and LeBron James agreed to a two-year, $97.1 million contract extension, sources told The Athletic’s Shams Charania. The deal keeps James under contract with Los Angeles through at least the 2023-24 season. James has a player option for 2024-25, according to ESPN. His extension is worth up to $111 million over two years based on salary-cap rises. (The Athletic)