ReportWire

Tag: Canada

  • Law (Taylor’s Version): 1st-ever Taylor Swift law course in Canada comes to Queen’s University  | Globalnews.ca

    Law (Taylor’s Version): 1st-ever Taylor Swift law course in Canada comes to Queen’s University | Globalnews.ca

    [ad_1]

    Queen’s University students with a Blank Space in their timetables may be pleased to learn that a first-of-its-kind entertainment law course will be offered later this year, centring on pop culture’s favourite Tortured Poet, Taylor Swift.

    Swift’s megawatt stardom is already evidenced by her economy-boosting Eras Tour, but her influence also continues to be felt in the academic world. Prestigious U.S. universities like Harvard, Stanford and Berkeley are already offering courses on the pop star in disciplines including English, political science and business. Queen’s University itself offered a course on Swift’s “Literary Legacy” in 2022.

    But this latest class promises to be the first Swift-focused law course in Canada, according to Mohamed Khimji, an associate dean of academic policy at Queen’s law school, who will be teaching it come September.


    Click to play video: '‘The Swift Effect’ being felt in Canada'


    ‘The Swift Effect’ being felt in Canada


    Khimji, a self-described Swiftie and corporate-lawyer-turned-law-professor, said he’s expecting heightened student interest in the class. In an interview with Global News, Khimji talked about the course content and his journey getting the class approved, all while dropping Swift lyrics along the way.

    Story continues below advertisement

    “I’m expecting a lot of enthusiasm and I’m really looking forward to it,” he said. “Taylor Swift would say, ‘I need to calm down.’”

    Khimji’s announcement of the course coincides with the release of Swift’s latest album, The Tortured Poets Department, a 31-song behemoth of a record on heartbreak and grief.


    Click to play video: 'Taylor Swift’s new album: The hidden meanings and references behind lyrics'


    Taylor Swift’s new album: The hidden meanings and references behind lyrics


    The class, called Law (Taylor’s Version), will cover core concepts in entertainment law, particularly contract, trademark and copyright law, while using Swift’s numerous interactions with the legal system as case studies.


    Breaking news from Canada and around the world
    sent to your email, as it happens.

    And no, it will not be an easy A.

    “It’s a serious course,” Khimji states, using “a very contemporary setting.”

    The idea for the class came about while Khimji was discussing the pop star’s re-recordings of her first batch of albums with a colleague.

    Story continues below advertisement

    “She asked me, ‘Why did Taylor re-record her first six albums?’ So I started explaining the business and legal reasons why an artist might want to do that. And it made me think, you know, my students would be interested in knowing this as well,” Khimji explained.

    “I started doing some research on Taylor’s other interactions with the legal system and decided that there was enough substance there for a course.”

    Swift launched her re-record venture after Scooter Braun’s company Ithaca Holdings bought her former record label Big Machine Records. Because of the purchase, Braun now owns the rights to Swift’s music catalogue up until her 2019 album Lover, which was released through Republic Records.

    In effort to own her music again, Swift has, thus far, released four “Taylor’s Version” projects, re-recording her Fearless, Red, Speak Now and 1989 albums.


    Click to play video: 'Taylor Swift announces ‘1989 (Taylor’s Version)’ at final U.S. concert to fans’ elation'


    Taylor Swift announces ‘1989 (Taylor’s Version)’ at final U.S. concert to fans’ elation


    “That’s a business decision that is framed by the copyright regime, and also framed by the specific agreement that she had with her first record company,” Khimji notes.

    Story continues below advertisement

    In the copyright portion of his class, Khimji will use this case study to explore the “distinction between ownership of the masters, which are the recordings, and ownership of the performance, which is the songwriting and so on.”

    He’ll also dive into two lawsuits Swift fielded for copyright infringement over her hit, Shake it Off.

    As for the section on trademarks, Khimji said he’d pull a case study from Swift’s orbit, and focus on Travis Kelce, her NFL boyfriend. Kelce filed five trademark requests to protect his name and some of his signature catchphrases like “Alright Nah” and “KillaTrav” in October 2023.


    Click to play video: 'Travis Kelce shares celebratory kiss with Taylor Swift as Kansas City Chiefs make Super Bowl'


    Travis Kelce shares celebratory kiss with Taylor Swift as Kansas City Chiefs make Super Bowl


    While teaching the core concepts of contract law, Khimji will also dive into Swift’s history with Spotify. Their legal feud resulted in Swift pulling her music off the streamer’s site for three years while bemoaning the meagre royalties that artists receive from the company per song play.

    Story continues below advertisement

    When Khimji pitched the Swift-themed course to the Queen’s Faculty of Law, he was initially shocked that there was skepticism around the idea.

    “I’m a Swiftie, right? So I just assumed the idea would be met with universal enthusiasm,” he said.

    He learned that making a “pop culture phenomenon the subject of a course at a professional school” would take some convincing. In the end he was able to prove the academic value of the class and get it approved.

    “Haters are going to hate and sometimes you have to shake things off,” he joked.

    “I’m a believer in pushing the envelope a little when it comes to what legal education looks like. Of course, I recognize that historical ideas have a lot of relevance today,” Khimji said, “But I also recognize that today’s students are going to be applying legal and business principles in a contemporary setting.”

    “There is value in making course material relatable, which is what this course is really trying to do.”

    Khimji notes that entertainment law is already an “appealing area for students” and he sees some future growth in this law specialization with the advent of social media “influencers.”

    “There’s a demand, I think, for fame and acquiring and engaging with it. And to that degree, the types of agreements that we see in the entertainment industry, I think, will be become more and more prevalent.”

    Story continues below advertisement

    A working paper from the U.S.’ National Bureau of Economic Research notes that the “influencer marketing economy” grew from being worth about US$2 billion in 2021 to almost US$13.8 billion in 2022. With approximately 50 million content creators worldwide, that’s a whole lot of brand deals and contracts to negotiate.

    But for Khimji, the main reason to offer a course like this is to get students “excited and engaged.”

    Law (Taylor’s Version) will be offered as an upper-year elective, open to second- and third-year law students, and will begin at the start of the next academic year in September.

    [ad_2]

    Kathryn Mannie

    Source link

  • Canada’s Trudeau government asks rich to pay more in pitch to Gen Z

    Canada’s Trudeau government asks rich to pay more in pitch to Gen Z

    [ad_1]

    Budget proposes higher capital gains taxes and billions in spending on education, housing, jobs and mental health.

    Canada will ask the wealthy to pay higher taxes as Prime Minister Justin Trudeau’s government seeks to shore up flagging support among young voters ahead of an election expected next year.

    Minister of Finance Chrystia Freeland said in the annual budget announcement on Tuesday that the wealthiest Canadians should pay more, while billions of dollars would be invested in education, housing, jobs and mental health services.

    The budget proposes 53 billion Canadian dollars ($38bn) in new spending over five years, much of it directed towards Millennials and Generation Z in the form of affordable housing, student grants and loans, rent subsidies and work placement programmes.

    Under the proposals, capital gains over 250,000 Canadian dollars ($180,804) would be taxed at 66.7 percent, up from 50 percent, raising nearly 20 billion Canadian dollars ($14.5bn) in revenue over five years.

    Freeland said the opportunity for young people to build a comfortable middle-class life had “always been the promise of Canada”.

    “But today, Millennial and Gen Z Canadians can get a good job, they can work hard, they can do everything their parents did and more, and too often the reward remains out of reach,” she said.

    “They look at their parents’ lives and wonder: ‘How will I ever be able to afford that?’”

    Freeland acknowledged that the tax hike would prompt some pushback but said the increase would ensure the wealthiest pay their fair share.

    “But before they complain too bitterly, I would like Canada’s 1 percent – Canada’s 0.1 percent – to consider this: What kind of Canada do you want to live in?” she said.

    The Business Council of Canada (BCC) slammed the proposed budget as “good politics to some” but “bad economic policy for all.”

    “Wealth redistribution is not wealth creation and the spending measures introduced today will saddle Canadians with debt without encouraging the strong and sustained economic growth they deserve,” BCC President and CEO Goldy Hyder said in a statement.

    The budget will need the backing of the left-leaning New Democratic Party, which is keeping Trudeau’s minority government in power, to pass through parliament.

    Trudeau’s Liberal government is badly trailing the Conservatives, led by Pierre Poilievre, ahead of general elections due to be held by the end of October 2025.

    Trudeau, who has led Canada since 2015, has seen his popularity severely dented amid widespread discontent over the cost of living and housing.

    In a poll by Nanos Research released in January, two in three Canadians said that Trudeau was doing a poor job of addressing the problem of unaffordable housing.

    Trudeau earlier this month announced plans to build nearly 3.9 million houses by 2031 to close the yawning gap between housing supply and demand.

    [ad_2]

    Source link

  • DOJ thinks Enbridge Line 5 pipeline is trespassing on tribal lands

    DOJ thinks Enbridge Line 5 pipeline is trespassing on tribal lands

    [ad_1]

    This coverage is made possible through a partnership with Grist and Interlochen Public Radio in Northern Michigan.

    Those involved in the Line 5 pipeline controversy have been waiting for the United States Department of Justice — and the Biden administration — to come forward with its opinion on a case that involves tribal sovereignty and foreign relations.

    But when the legal brief came down on Wednesday, no one was satisfied.

    The Justice Department amicus brief backed claims from a Wisconsin tribe that Enbridge, a Canadian company, was trespassing on its lands by continuing to operate the Line 5 pipeline there. The 71-year-old pipeline carries up to 540,000 barrels of oil and natural gas liquids daily from Superior, Wisconsin, to Sarnia, Ontario.

    The DOJ also agreed that Enbridge has been trespassing on the band’s lands for over a decade, and specified the company should pay more than the court-ordered $5.15 million to the band, since the company has made over $1 billion in that time.

    “We are grateful the U.S. urged the court not to let Enbridge profit from its unlawful trespass,” said Robert Blanchard, chairman of the Bad River Band of the Lake Superior Chippewa Indians, located in northern Wisconsin.

    But, Blanchard added in a statement, they’re disappointed the U.S. didn’t call for the company to stop trespassing immediately: “Enbridge should be required to promptly leave our Reservation, just like other companies that have trespassed on tribal land.”

    The legal trail began in 2019, when the band sued Enbridge for trespassing. The district ruling came out last June. Both Enbridge and the band appealed.

    In their appeal, Enbridge and the Canadian government pointed to the 1977 Transit Pipeline Treaty between the United States and Canada, which promised an uninterrupted flow of oil and gas products between the nations.

    Both Enbridge and Canada argue that shutting down the pipeline before relocating it would violate the pipeline treaty, and would impact energy supplies across the northern U.S. and Canada.

    The court waiting for the DOJ brief, the Seventh Circuit Court of Appeals, was looking for guidance on that question.

    But the department stopped short of saying how the court should interpret the 1977 treaty, only recommending that the case be sent back to the district court to more fully consider public interests, including diplomatic relations with Canada, energy concerns around Line 5, and protecting the band’s sovereign rights.

    “The brief does not provide an interpretation of the transit treaty’s provisions, and that was pretty stunning, given that the court asked specifically for that interpretation,” said the band’s attorney, Riyaz Kanji.

    The Bad River Band disagrees with Enbridge and Canada’s interpretation of the pipeline treaty. The band refers to its 1854 treaty with the U.S., which recognizes its sovereign authority over those lands.

    Even if the pipeline treaty applies, according to the band, it still allows for pipelines to be regulated, including for pipeline safety and environmental protection.

    That has worried the band’s supporters. Some say the U.S. is failing to meaningfully support tribal sovereignty, instead protecting its interests with Canada.

    “From the point of view of the tribe and its allies, this is incredibly concerning that the United States is not advocating for the shutdown or removal of that pipeline” said Matthew Fletcher, a citizen of the Grand Traverse Band of Ottawa and Chippewa Indians and a law professor at the University of Michigan.

    Other Great Lakes tribes have argued that accepting Canada and Enbridge’s interpretation of the pipeline treaty would undermine foundational principles of tribal sovereignty and would have major implications for property rights.

    In a letter to the Biden administration in late February, representatives from 30 tribal nations across the region said the U.S. should fulfill its trust responsibility by rejecting that interpretation of the pipeline treaty.

    Enbridge declined Grist’s request for an interview. In an emailed statement, company spokesperson Ryan Duffy said, “The Government of Canada has made its position clear. Such a shutdown is not in the public interest as it would negatively impact businesses, communities and millions of individuals who depend on Line 5 for energy in both the U.S. and Canada.”

    The band, Enbridge, and Canada have until April 24 to respond to the DOJ’s brief. The Seventh Circuit Court of Appeals will then decide how to move forward.

    Editor’s note: Enbridge is an advertiser with Interlochen Public Radio. Advertisers have no role in IPR’s editorial decisions.

    [ad_2]

    Izzy Ross, Interlochen Public Radio

    Source link

  • Toronto Wants to Manage Storms and Floods—With a Rain Tax

    Toronto Wants to Manage Storms and Floods—With a Rain Tax

    [ad_1]

    This story originally appeared on Canada’s National Observer and is part of the Climate Desk collaboration.

    A plan to charge Toronto homeowners and businesses for paved surfaces on their properties is creating a public backlash, a deluge of negative international media attention, and even derisive comments from Donald Trump Jr.

    The outcry reached such a crescendo last week, the city canceled public hearings on the tax, which is intended to help offset the hundreds of millions spent managing stormwater and basement flooding.

    Dubbed “the rain tax” by critics, including the former US president’s son on X, a SkyNews host also condemned the plan and discouraged people from visiting Canada’s largest city saying: “You thought it couldn’t get any worse … Don’t go to Toronto because they’re going to tax you when it rains.”

    The amount of hard surface area would determine the contentious stormwater charge on a property which does not absorb water, such as roofs, driveways, parking lots, or concrete landscaping.

    “When we get a big rainstorm, basements flood, roads flood, sewage overflows and runs into the lake or on our rivers,” said Toronto mayor Olivia Chow in an online video post on X. “Stormwater slides off paved surfaces instead of absorbing into the ground. It overwhelms our water infrastructure, causes damage to your home and the environment.”

    The new fee would adjust water bills to reduce water consumption rates and add a stormwater charge based on property size and hard surface area.

    Online public consultations were to be followed by public meetings. However, after less than a week, the online consultations were paused and public meetings canceled. The city claims the delay is needed so staff can find a way to marry the new fee with the city’s broader climate-resilience strategy.

    Chow said she would prefer the city offer residents financial incentives to plant gardens in their backyards or install permeable pavement to help drain the rain.

    “I don’t think it’s fair to have a stormwater policy that asks homeowners to pay while letting businesses with massive parking lots off the hook,” said Chow. Many businesses with large paved areas, such as parking lots, pay no water bills and therefore do not contribute to stormwater management.

    “That is why I am asking Toronto Water to come back to city council with a plan that supports more green infrastructure, prevents flooding, and keeps your water bills low,” Chow said.

    In last year’s city budget, a 10-year plan (2023 to 2032) allocated $4.3 billion for stormwater management, including the $2.11 billion Basement Flooding Protection Program. Last year alone, the city invested $225.3 million in the basement program.

    Other nearby cities, like Mississauga, Vaughan, and Markham, have had stormwater charges for a long time.

    In an email response, the City of Vaughan said its stormwater charge supports numerous programs and initiatives across the city to help protect the environment, property, and water quality. Vaughan’s 2024 stormwater rate is $64.20 annually for a detached single residential unit, an increase from last year’s rate of $58.63, the city said.

    [ad_2]

    Source link

  • 58-year-old grandmother of 12 breaks world planking record after holding position for more than 4.5 hours

    58-year-old grandmother of 12 breaks world planking record after holding position for more than 4.5 hours

    [ad_1]

    There’s a new world record for the longest plank ever held by a woman – and it was broken by a grandmother in Canada. 

    Guinness World Records announced late last month that 58-year-old DonnaJean Wilde, a mother of five and grandmother of 12 in Canada, broke the women’s world record for the longest time in an abdominal plank position after holding it for 4 hours, 30 minutes and 11 seconds – 10 minutes longer than the previous record established in 2019. She spent that entire duration with her forearms and toes touching the ground and her body remaining lifted and straight. 

    Wilde, who is now retired, completed the event at the high school where she previously served as vice principal. She told Guinness that the first two hours were relatively quick, but by the end, there was a bit of a struggle. 

    “My elbows hurt pretty bad,” Wilde said. “I was so worried about losing my form and I think that’s why my quads hurt because I was just really tense.” 

    The last hour “was the most challenging,” she said, but by “breathing, staying calm and not shaking,” in the last 30 minutes, she was able to persevere. Her main motivator was her dozen grandchildren, all of whom attended the record-breaking event. 

    But breaking a world record doesn’t come easy. Wilde spent every day planking for up to three hours, during which time she would watch movies and even study for her master’s degree. In preparation for the attempt, she did that three-hour exercise twice a day. 

    “I realized that I could read and do things when I was planking and fell in love with it,” she said.

    Wilde has been planking for more than a decade, getting into the activity after she broke her wrist 12 years ago and couldn’t run or lift weights while she was in a cast. 

    And she did it all while dealing with chronic pain in her hands and arms. She suffers from transverse myelitis, a condition in which both sides of a section of the spinal cord become inflamed, sending pain to those areas she relies on to hold a plank. Her husband Randy told Guinness, however, that he believes the pain she regularly experiences ended up being more helpful than hurtful when it comes to breaking a world record. 

    “That chronic pain and numbness that she deals with every day has helped her to be able to plank through the pain,” he said. “…I think the model for someone whose done a world record is officially amazing, but she’s been officially amazing her whole life.” 

    After all the time spent training and finally breaking the record, Wilde says the only feeling she’s left with is “overwhelming.” 

    “I actually still can’t believe it,” she said. “It feels like a dream.” 

    [ad_2]

    Source link

  • Huge crowds await a total solar eclipse in North America. Clouds may spoil the view

    Huge crowds await a total solar eclipse in North America. Clouds may spoil the view

    [ad_1]

    ECLIPSE? ANTOINETTE THEY NEED TO KNOW THAT THEY NEED TO GET THOSE SUNGLASSES. EXCUSE ME? THE SOLAR ECLIPSE GLASSES, THE SUNGLASSES. THEY’RE NOT GOING TO CUT IT TODAY. SO AGAIN, YOU GOT TO BE PREPARED IF YOU’RE LOOKING FOR THE LAST MINUTE. I ACTUALLY HAVE THREE PAIRS. SO MY DMS ARE OPEN IN MY PRICES. THEY ARE VERY REASONABLE. AND THE REASON YOU HAVE TO DO THAT IS BECAUSE DOCTORS SAY JUST A LITTLE BIT OF LOOKING INTO THE SUN CAN REALLY CAUSE SOME DAMAGE. THE THOUSANDS, THE SUNGLASSES, EXCUSE ME, THE SOLAR ECLIPSE GLASSES, THEY ARE THOUSANDS OF TIMES DARKER THAN THE DARKEST SUNGLASSES. AND THEY DO COMPLY WITH THE ISO STANDARD. A RETINA SPECIALIST WITH MASS EYE AND EAR SAYS EVEN A QUICK GLANCE AT THE ECLIPSE CAN CAUSE EYE DAMAGE IF YOU DON’T HAVE THE RIGHT GEAR. SO NO MATTER YOUR AGE, THE SUNLIGHT CAN BE EXTREMELY DAMAGING. IF YOU DO STARE AT THE SUN, YOU’RE GOING TO GET A CRESCENT SHAPED BRANDING OF THE SHAPE OF THE SUN BURNED INTO THE LIGHT SENSING CELLS IN YOUR RETINA, AND IT CAN CAUSE PERMANENT VISION LOSS IN THAT AREA. SO. SO FOR PEOPLE LIKE UP KELLY ANN IN THE PATH OF TOTALITY, THEY DON’T NEED THE SOLAR ECLIPSE GLASSES. DURING THAT BRIEF TOTAL PHASE OF THE ECLIPSE. BUT FOR THOSE OF US HERE IN BOSTON, YOU GOT TO KEEP THOSE GLASSES ON THE WHOLE TIME TODAY. AND IT’S REALLY IMPORTANT. PARENTS, TO REMIND THAT TO THE CHILDREN, SOME SCHOOL DISTRICTS, THEY ARE DOING SOME ADJUSTED POTENTIAL RELEASES TO ALLOW THOSE KIDS TO SEE THIS. BUT AGAIN, YOU GOT TO EXPRESS TO THOSE EXCITED CHILDREN THEY GOT TO KEEP THOSE GLASSES ON HERE IN BOSTON THE ENTIRE TIME. RE

    Huge crowds await a total solar eclipse in North America. Clouds may spoil the view

    Millions of spectators along a narrow corridor stretching from Mexico to the U.S. to Canada eagerly awaited Monday’s celestial sensation – a total eclipse of the sun – even as forecasters called for clouds.What to know: An estimated 32 million people across the U.S. live within the path of totality, or locations where the moon will completely block the face of the sun from view for a few moments.It will take just 1 hour and 40 minutes for the moon’s shadow to race more than 4,000 miles across the continent.Clear skies are only promised in northern New England to Canada. During the eclipse, the moon will pass in front of the sun and obscure it for up to 4 1/2 minutes.The rest of North America will see a partial eclipse, weather permitting.The best weather was expected at the tail end of the eclipse in Vermont, New Hampshire and Maine, as well as New Brunswick and Newfoundland in Canada.It promised to be North America’s biggest eclipse crowd ever, thanks to the densely populated path and the lure of more than four minutes of midday darkness in Texas and other choice spots. Almost everyone in North America was guaranteed at least a partial eclipse, weather permitting. The show gets underway in the Pacific shortly before noon EDT.Video above: Total solar eclipse informationIn Texas, the south-central region was locked in clouds, but it was a little bit better to the northeast, said National Weather Service meteorologist Cody Snell.”Dallas is pretty much a 50-50 shot,” he said.The cliff-hanging uncertainty added to the drama. But the overcast skies in Mesquite near Dallas didn’t rattle Erin Froneberger, who was in town for business and brought along her eclipse glasses.”We are always just rushing, rushing, rushing,” she said. “But this is an event that we can just take a moment, a few seconds that it’s going to happen and embrace it.”Sara Laneau, of Westfield, Vermont, woke up at 4 a.m. Monday to bring her 16-year-old niece to nearby Jay Peak ski resort to catch the eclipse after a morning on the slopes.”This will be a first from me and an experience of a lifetime,” said Laneau, who was dressed in a purple metallic ski suit with a solar eclipse T-shirt underneath.At Niagara Falls State Park, tourists streamed in under cloudy skies with wagons, strollers, coolers and lawn chairs. Park officials expected a large crowd at the popular site overlooking the falls.Video above: Preview before the eclipse in Erie, PennsylvaniaFor Monday’s full eclipse, the moon was due to slip right in front of the sun, entirely blocking it. The resulting twilight, with only the sun’s outer atmosphere or corona visible, would be long enough for birds and other animals to fall silent, and for planets, stars and maybe even a comet to pop out.The out-of-sync darkness lasts up to 4 minutes, 28 seconds. That’s almost twice as long as it was during the U.S. coast-to-coast eclipse seven years ago because the moon is closer to Earth. It will be another 21 years before the U.S. sees another total solar eclipse on this scale.Extending five hours from the first bite out of the sun to the last, Monday’s eclipse begins in the Pacific and makes landfall at Mazatlan, Mexico, before moving into Texas, Oklahoma, Arkansas and 12 other U.S. states in the Midwest, Middle Atlantic and New England, and then Canada. Last stop: Newfoundland, with the eclipse ending in the North Atlantic.It will take just 1 hour, 40 minutes for the moon’s shadow to race more than 4,000 miles across the continent.Eye protection is needed with proper eclipse glasses and filters to look at the sun, except when it ducks completely out of sight during an eclipse.The path of totality – approximately 115 miles wide – encompasses several major cities this time, including Dallas; Indianapolis; Cleveland; Buffalo, New York; and Montreal. An estimated 44 million people live within the track, with a couple hundred million more within 200 miles. Add in all the eclipse chasers, amateur astronomers, scientists and just plain curious, and it’s no wonder the hotels and flights are sold out and the roads jammed.Experts from NASA and scores of universities are posted along the route, poised to launch research rockets and weather balloons, and conduct experiments. The International Space Station’s seven astronauts also will be on the lookout, 270 miles up.

    Millions of spectators along a narrow corridor stretching from Mexico to the U.S. to Canada eagerly awaited Monday’s celestial sensation – a total eclipse of the sun – even as forecasters called for clouds.


    What to know:

    • An estimated 32 million people across the U.S. live within the path of totality, or locations where the moon will completely block the face of the sun from view for a few moments.
    • It will take just 1 hour and 40 minutes for the moon’s shadow to race more than 4,000 miles across the continent.
    • Clear skies are only promised in northern New England to Canada. During the eclipse, the moon will pass in front of the sun and obscure it for up to 4 1/2 minutes.
    • The rest of North America will see a partial eclipse, weather permitting.

    The best weather was expected at the tail end of the eclipse in Vermont, New Hampshire and Maine, as well as New Brunswick and Newfoundland in Canada.

    It promised to be North America’s biggest eclipse crowd ever, thanks to the densely populated path and the lure of more than four minutes of midday darkness in Texas and other choice spots. Almost everyone in North America was guaranteed at least a partial eclipse, weather permitting. The show gets underway in the Pacific shortly before noon EDT.

    Video above: Total solar eclipse information

    In Texas, the south-central region was locked in clouds, but it was a little bit better to the northeast, said National Weather Service meteorologist Cody Snell.

    “Dallas is pretty much a 50-50 shot,” he said.

    The cliff-hanging uncertainty added to the drama. But the overcast skies in Mesquite near Dallas didn’t rattle Erin Froneberger, who was in town for business and brought along her eclipse glasses.

    “We are always just rushing, rushing, rushing,” she said. “But this is an event that we can just take a moment, a few seconds that it’s going to happen and embrace it.”

    Sara Laneau, of Westfield, Vermont, woke up at 4 a.m. Monday to bring her 16-year-old niece to nearby Jay Peak ski resort to catch the eclipse after a morning on the slopes.

    “This will be a first from me and an experience of a lifetime,” said Laneau, who was dressed in a purple metallic ski suit with a solar eclipse T-shirt underneath.

    At Niagara Falls State Park, tourists streamed in under cloudy skies with wagons, strollers, coolers and lawn chairs. Park officials expected a large crowd at the popular site overlooking the falls.

    Video above: Preview before the eclipse in Erie, Pennsylvania

    For Monday’s full eclipse, the moon was due to slip right in front of the sun, entirely blocking it. The resulting twilight, with only the sun’s outer atmosphere or corona visible, would be long enough for birds and other animals to fall silent, and for planets, stars and maybe even a comet to pop out.

    The out-of-sync darkness lasts up to 4 minutes, 28 seconds. That’s almost twice as long as it was during the U.S. coast-to-coast eclipse seven years ago because the moon is closer to Earth. It will be another 21 years before the U.S. sees another total solar eclipse on this scale.

    Extending five hours from the first bite out of the sun to the last, Monday’s eclipse begins in the Pacific and makes landfall at Mazatlan, Mexico, before moving into Texas, Oklahoma, Arkansas and 12 other U.S. states in the Midwest, Middle Atlantic and New England, and then Canada. Last stop: Newfoundland, with the eclipse ending in the North Atlantic.

    It will take just 1 hour, 40 minutes for the moon’s shadow to race more than 4,000 miles across the continent.

    Eye protection is needed with proper eclipse glasses and filters to look at the sun, except when it ducks completely out of sight during an eclipse.

    The path of totality – approximately 115 miles wide – encompasses several major cities this time, including Dallas; Indianapolis; Cleveland; Buffalo, New York; and Montreal. An estimated 44 million people live within the track, with a couple hundred million more within 200 miles. Add in all the eclipse chasers, amateur astronomers, scientists and just plain curious, and it’s no wonder the hotels and flights are sold out and the roads jammed.

    Experts from NASA and scores of universities are posted along the route, poised to launch research rockets and weather balloons, and conduct experiments. The International Space Station’s seven astronauts also will be on the lookout, 270 miles up.

    [ad_2]

    Source link

  • Women’s pro sports is a ‘global phenomenon’ — and Canada is finally joining in – National | Globalnews.ca

    Women’s pro sports is a ‘global phenomenon’ — and Canada is finally joining in – National | Globalnews.ca

    [ad_1]

    Women’s professional sports is a growing phenomenon worldwide, and Canada is increasingly joining in the action.

    After the launch of the Professional Women’s Hockey League this year with three of the six teams from Canadian cities, another six Canadian women’s teams have applied to join a new national Division 1 women’s soccer league in the country.

    Called Project 8, it will be the first domestic professional women’s soccer league Canada has ever seen and is a “big deal,” women’s sports advocates told Global News.

    So far, Vancouver, Toronto and Calgary have announced they have applied to the league, and three other teams will be revealed in the coming weeks, according to Project 8. The league is set to launch in 2025 and has Canadian Tire, CIBC, DoorDash and Air Canada as founding partners.

    “The timing (for its launch) couldn’t be better with the growth of viewership and popularity of women’s sports in general,” Kim Brassor, the founder and executive director of Oakville, Ont.-based Future Girls Soccer, told Global News.

    Story continues below advertisement

    “If the right business partners come along and players come along, I think it’s going to be a terrific venture for Canada Soccer.”


    Click to play video: 'Shooting star: Caitlin Clark becoming all-time college basketball great'


    Shooting star: Caitlin Clark becoming all-time college basketball great


    Brassor helps coach girls ages eight to 12 in soccer, and said having a professional league in Canada will be a huge inspiration for players. Before Project 8, the only hope for playing the sport professionally would be to go to other countries to play in their leagues, she said.


    The email you need for the day’s
    top news stories from Canada and around the world.

    Now the goal of playing professionally will be much more tangible and provide young players with role models, according to Brassor.

    The new league is being created by retired Olympic player Diana Matheson and her business partner, Thomas Gilbert. It comes as women’s sports is rapidly gaining popularity around the world, according to Allison Sandmeyer-Graves, the CEO of non-profit Canadian Women and Sport.

    Story continues below advertisement

    “It’s a global phenomenon,” she said. “The fandom is growing in terms of the viewership online, on TV, engagement on social media, attendance at events.”

    Nielsen reported in July 2023 that interest in women’s sports is growing at a “meteoric pace,” with the final game of the NCAA Women’s Division between Iowa and LSU drawing in a record-breaking 9.9 million views, up 103 per cent from the year before. Deloitte has predicted that women’s elite sports will surpase US$1 billion in revenue in 2024 for the first time.

    Sandmeyer-Graves said Canada is actually behind in terms of women’s sports offerings compared to other places such as the U.S. and Europe, and says there is a massive opportunity for investment and partnerships. She said women athletes are now building their own profiles and fanbases similar to how male athletes have done for decades — and brands are taking notice.

    The new league will only help with growth by creating more visibility and air time, she said.

    “Investors seeing the business opportunity that (women’s sports) represents and starting to put their money toward it is making a profound difference,” she said. “There’s a tremendous business opportunity here that has not been tapped into yet.”


    Click to play video: 'Growing interest in women’s sports'


    Growing interest in women’s sports


    Similar to how local sports, such as the Raptors G-League in Mississauga, are making inroads of their own, women’s sports provides its own twist that fans seem to be eating up.

    Story continues below advertisement

    Brassor said stands are constantly filled at games, and often it is families who hope to provide some inspiration for their children. But it isn’t only inspiration on show but actual talent, she noted.

    “It’s a great game,” she said. “When you watch it, you’re entertained.”

    There are still obstacles to women’s sports, though. Sandmeyer-Graves mentioned that sports has been dominated by men for so long that there is “gender bias” baked into the decision making and policies, also given leadership in sports is still very much male.

    Women’s sports — along with sports more broadly — also have faced high-profile sexual abuse and misconduct issues that have been unearthed in recent years, including in water polo, gymnastics and hockey.

    Both Sandmeyer-Graves and Brassor say there is still a long way to go to eradicate the problem completely.

    “We have to stand up for victims and give them a neutral spot where they can tell their truth without being victimized again,” Brassor said. “We’re still not there.”

    Curator Recommendations

    &copy 2024 Global News, a division of Corus Entertainment Inc.

    [ad_2]

    Eric Stober

    Source link

  • 2024 World Happiness Rankings: USA Falls Out of Top 20, Youngest Hit Hardest

    2024 World Happiness Rankings: USA Falls Out of Top 20, Youngest Hit Hardest

    [ad_1]

    What are the top 20 happiest countries in the world? How do mental health and well-being trends look in the United States and Canada? The 2024 World Happiness Report is in!


    The World Happiness Report is a research initiative to compare happiness levels between different countries.

    The project first launched in 2012, surveying more than 350,000 people in 95 countries asking them to rate their happiness on a 10-point scale.

    Each year they release a new report and the 2024 full report was just published a few weeks ago. There are some interesting findings in it that are worth highlighting.

    First let’s look at the happiness rankings by country.

    Top 20 Happiest Countries

    Here are the top 20 happiest countries in 2024 according to the report.

    The scores are on a scale of 1-10. Each participant was asked to think of a ladder, with the best possible life for them being a “10” and the worst possible life being a “0.” They were then asked to rate their current lives. The final rankings are the average score for each country.

    (By the way, this simple test for measuring subjective well-being is known as the “Cantril Ladder,” it’s a common tool used in public polling especially the Gallup World Poll.)

    The results:

      1. Finland (7.741)
      2. Denmark (7.538)
      3. Iceland (7.525)
      4. Sweden (7.344)
      5. Israel (7.341)
      6. Netherlands (7.319)
      7. Norway (7.302)
      8. Luxembourg (7.122)
      9. Switzerland (7.060)
      10. Australia (7.057)
      11. New Zealand (7.029)
      12. Costa Rica (6.955)
      13. Kuwait (6.951)
      14. Austria (6.905)
      15. Canada (6.900)
      16. Belgium (6.894)
      17. Ireland (6.838)
      18. Czechia (6.822)
      19. Lithuania (6.818)
      20. United Kingdom (6.749)

    The top 10 countries have remained stable over the years. As of March 2024, Finland has been ranked the happiest country in the world seven times in a row.

    There was more movement in the top 20 rankings. Most notably, this is the first year that the United States dropped out of the top 20 (from rank 15 to 23 – an 8 place drop).

    More alarming are the age gaps in happiness reports. In both the U.S. and Canada, those above the age of 60 report significantly higher rates of happiness than those below 30.

    Above age 60, the U.S. ranks 10 overall on the world happiness rankings. Below age 30, the U.S. falls to rank 62, just beating out Peru, Malaysia, and Vietnam.

    Could this be a sign of a continuing downward trend in places like the U.S. and Canada?

    Potential Factors Behind Life Evaluation

    How to measure happiness is always a controversial topic.

    To this day, psychologists and social scientists don’t really have a reliable way to determine happiness besides simply asking someone, “How happy are you?”

    However, the World Happiness Report attempts to take the above findings and break them down into six main factors that contribute to overall life evaluation on a societal level.

    These factors don’t influence the final rankings, they are just a way to make sense of the results:

    • GDP per capita – A general measure of a country’s overall wealth.
    • Life expectancy – A general measure of a country’s overall health.
    • Generosity – The level of a country’s trust and kindness through charity and volunteering.
    • Social support – The level of a country’s social cohesion and community.
    • Freedom – The level of a country’s freedom to live life as a person sees fit.
    • Corruption – A general measure of government competence and political accountability.

    Each factor helps explain the differences in overall happiness between countries, with some countries performing better in certain areas over others.

    One benefit of this model is that it looks beyond GDP (or “Gross Domestic Product”) which has long been the overall benchmark for comparing countries in the social sciences. The U.S. has the highest GDP in the world and frequently ranks in the top 10 per capita, but the happiness rankings show there is more to the picture.

    Conclusion

    The World Happiness Report is a good guideline for comparing happiness and well-being between different countries. How does your country rank? It will be interesting to see how these rankings change over the next few years, do you have any predictions?


    Enter your email to stay updated on new articles in self improvement:

    [ad_2]

    Steven Handel

    Source link

  • Coinbase receives dealer license in Canada

    Coinbase receives dealer license in Canada

    [ad_1]

    Cryptocurrency exchange Coinbase has received a license to operate in Canada.

    According to CNBC, the license allows the crypto platform to increase its presence outside the U.S. as it faces a regulatory crackdown in its home market.

    Coinbase has received registration in Ontario as a limited dealer under the Canadian Securities Administrators (CSA), the umbrella organization of Canada’s provincial and territorial securities regulators.

    “It’s something we’ve been working on for almost three years here in Canada, specifically with the Ontario Securities Commission over the last 12 months.”

    Lucas Matheson, Coinbase’s country director for Canada

    According to Matheson, registration in Canada makes Coinbase the first international and most significant cryptocurrency exchange registered in Canada, putting the platform in an excellent position to help millions of Canadians access the digital economy.

    “We have a strong brand here in Canada as a publicly traded company committed to compliance, and registration more broadly in the world.”

    Lucas Matheson, Coinbase’s country director for Canada

    Late last year, Coinbase received a license to operate in France. The French stock market regulator (AMF) made the decision to issue a permit to Coinbase. The crypto exchange will now be able to provide virtual asset service provider (VASP) services in France.

    In addition, in April 2023, Coinbase received approval from the Bermuda Monetary Authority (BMA) to operate as a regulated entity in the British Island Territory. 


    Follow Us on Google News

    [ad_2]

    Anna Kharton

    Source link

  • The science and controversy behind Netflix’s ‘3 Body Problem’ – National | Globalnews.ca

    The science and controversy behind Netflix’s ‘3 Body Problem’ – National | Globalnews.ca

    [ad_1]

    Netflix’s 3 Body Problem has sparked fascination and controversy.

    Based on the 2008 novel by Liu Cixin and brought to the small screen by Game of Thrones creators D.B. Weiss and David Benioff, the series tells the story of an impending alien invasion of Earth.

    The show portrays some science that left some viewers with questions and some historical events that have upset some people in China.

    Global News spoke to experts to separate fact from fiction and history from hysteria.

    What is a three-body problem?

    A three-body problem refers to three astronomical bodies, like planets or suns, and how each object’s gravity impacts the other’s orbits.

    Story continues below advertisement

    But it’s easiest to understand if we start with a two-body problem.

    “The closer objects are, the stronger is the gravitational pull,” York University professor emeritus of physics and astronomy Paul Delaney said.

    The sun is about a million times larger than the Earth, according to NASA, and so its gravity holds our planet in orbit around it.

    The orbit is stable, making it predictable, Delaney said.

    This is a two-body problem, just like the moon and the Earth, and it’s a problem that’s been solved since Sir Isaac Newton’s work on gravity.

    “We can theoretically figure out where (the two objects) will be as a function of time,” Delaney told Global News.

    “There are complications with angular momentum and tidal forces and friction,” he said, speaking from Tuscon, Ariz., “but to all practical intents and purposes, the moon will stay in a stable orbit.

    There are other planets in the solar system and the moon orbits Earth. Delaney told Global News, though, that these objects are so far away and have such small mass compared with the sun that they don’t significantly influence the Earth’s orbit.

    A three-body problem involves another astronomical object, like another sun.

    Story continues below advertisement

    “The stability of the planetary orbit around the two stars,” he said, “is not stable.”


    Click to play video: '‘We’re charting a course to Mars’: Canadian astronaut Jeremy Hansen reflects on moon mission'


    ‘We’re charting a course to Mars’: Canadian astronaut Jeremy Hansen reflects on moon mission


    That instability means the orbit becomes less predictable because the changing distances and forces that the objects exert on each other would also alter the speed.

    “Therefore, predicting where they will be as a function of time (is) doable, but much more difficult,” Delaney said.

    So, three-body problems do exist and can get even more complicated, with even eight stars.

    An “n-body” problem, Delaney explained — where “n” represents any number of objects exerting gravity on each other — is “horrendous” to calculate.

    An n-body problem could eventually result in one of the objects colliding with another, or being ejected off into space, according to Delaney.

    Story continues below advertisement

    And the different gravities pulling on a planet in an n-body problem of two or more could disrupt, if not destroy, life on the planet.


    The email you need for the day’s
    top news stories from Canada and around the world.

    It could affect tectonic plates and cause earthquakes, alter tides and change the water cycle and weather, Delaney told Global News.

    “If our surface temperature fell below zero consistently for just years, let alone centuries or beyond, yeah, we’d be toast,” he said.

    The three-body problem in the Netflix show refers to three suns, with the Trisolaran people living on a planet caught between them.

    “Tri” comes from the Latin and Greek language and means “three,” while “solar” comes from the Latin word for “sun.” Their planet is caught between the gravity of the three suns and their civilization is perpetually destroyed.

    The aliens want to invade Earth to live on a planet with a stable two-body problem.

    To view their potential future home, the Trisolarans use a proton to project and receive information across the universe from Trisolaris to Earth using something called “quantum entanglement.”

    Story continues below advertisement

    “The moment you put the word ‘quantum’ in front of anything, everybody goes, ‘ooh,’ and anything seems possible,” Delaney said.

    Quantum entanglement is real, he added, but it doesn’t work — as far as we know — how the show portrays it.


    Eiza González as Auggie Salazar in Episode 103 of ‘3 Body Problem.’ Courtesy of Netflix © 2024.

    Protons are positively charged subatomic particles. Along with neutrons, which have no charge (as in, “neutral”), they make up part of an atom’s nucleus.

    For example, an atom of hydrogen comprises one proton and one negatively charged electron in a probability field around it.

    Protons are not “small lumps of matter that just sits there,” Delaney said. They have specific characteristics, involving, among other things, the electrons around them and their own spin.

    “That information, we believe, can be entangled to other particles, so that all of the exact states of this particular particle are mimicked by (that) particle,” Delaney said.

    Story continues below advertisement

    “And if you change this (proton’s) state, (the other proton’s state) changes instantaneously regardless of distance.”

    He said this was an example of one of the frictions between quantum mechanics and the regular atomic theory of matter, which states that anything can only move as fast as the speed of light.

    “If you’re 400 light years apart, then it takes 400 years” to get there, travelling at the speed of light, Delaney said.

    Entanglement ignores that distance – but it doesn’t mean information can be transmitted.

    “The proton isn’t exactly scanning Earth, picking out photographs and transmitting information about its local environment,” he said.

    At one point, a human character in the show proposes detonating a series of nuclear bombs in space to propel a spaceship forward.

    Story continues below advertisement

    This, it turns out, is theoretically possible.

    “We looked at that option back in the ’60s when nuclear warheads were common,” Delaney told Global News.

    It was called Project Orion.

    The craft would have been “powered by successive explosions of hydrogen atomic bombs,” according to the American Air and Space Museum website. The crew compartment would be “well shielded from the blast and radiation” and shocks of the blasts were absorbed through water-cooled springs.

    The site says the U.S. government cancelled Orion in 1964 after seven years of work “mainly because of the Nuclear Test Ban Treaty of 1963, which outlawed nuclear testing in the atmosphere.”

    Delaney said the design looked untenable and dangerous, with a giant irradiated plate permanently situated behind the astronauts and a need for many nuclear bombs.

    The show has drawn attention not just for its science fiction but also for its portrayals of political events.

    Story continues below advertisement

    The series opens with a scene set in the 1960s in China during the Cultural Revolution.

    In it, Red Guards beat a scientist to death.


    Episode 101 of ‘3 Body Problem.’ Cr. Ed Miller/Netflix © 2024.

    “The first scene made my jaw drop,” one person wrote on Weibo, a Chinese social media platform.

    “Westerners fundamentally can’t accept the idea of Chinese people inventing cutting-edge technology,” another person wrote on the ratings and social network site Douban.

    The Cultural Revolution began in China in 1966 when the leader of the Chinese Community Party (CCP) and country, Mao Zedong, mobilized Chinese youth against the bureaucracy, according to Carleton University professor emeritus Jeremy Paltiel.

    Mao believed he was being frozen out of power, he said, and believed he could purge the people he didn’t like while also inoculating China against losing its revolutionary zeal by having young people toss out the old.

    Story continues below advertisement

    “It became quickly extremely violent because nobody was sure who the right targets were,” Paltiel said.

    He said the CCP never fully counted the dead, but “certainly we’re talking about tens of thousands of people who were beaten to death.”

    “People were beaten to death in public,” he said, and some were “cannibalized.”

    He told Global News he was an exchange student in 1974, after the violence ended.

    “In our dorm, the shower stalls had no doors left on them because they’d been taken off during the Cultural Revolution to form armour (for) the students who were fighting each other.”

    The country is still ruled by the CCP and Mao remains a revered leader. As such, Paltiel said, the Cultural Revolution is “not very well taught.”

    “(The CCP) says it’s a mistake, but they don’t dwell on it” because it’s a period of suffering and humiliation for the party.

    He suspected the criticism some in China have levelled at the Netflix series likely stems from surprise from people unfamiliar with what happened, in a country where history and the internet are heavily censored. He also suggests some may be outraged because it seems like foreigners are embarrassing China by showing such a tumultuous time.

    Story continues below advertisement

    But the novel that forms the source material for the Netflix show was written by a Chinese author, Liu Cixin, and initially published in China before being translated into English.

    The novel won the prestigious Hugo Award for science fiction and fantasy in 2015.

    While the decision to adapt the book faced criticism in 2020, with five Republican senators calling on Netflix to reconsider over comments by Liu about Uyghur Muslims, Netflix defended the decision in a statement reported on by Variety that year.

    “Mr. Liu is the author of the books, not the creator of this series,” Netflix was quoted as saying.

    – with files from Reuters

    Curator Recommendations

    [ad_2]

    Nathaniel Dove

    Source link

  • Joni Mitchell’s music back on Spotify 2 years after boycotting platform  | Globalnews.ca

    Joni Mitchell’s music back on Spotify 2 years after boycotting platform | Globalnews.ca

    [ad_1]

    Joni Mitchell’s music is back on Spotify more than two years after the songwriter pulled it off the platform in protest of other content available on the popular streaming service.

    Mitchell herself did not release an official statement announcing the return to Spotify, but a search for her content on the app reveals her complete discography is available to play again.

    Mitchell pulled her music from Spotify in January 2022 in solidarity with fellow Canadian music icon, raised in Winnipeg, Neil Young, who removed his catalog to protest the company’s decision to give controversial podcast host Joe Rogan an exclusive platform.


    The email you need for the day’s
    top news stories from Canada and around the world.


    The email you need for the day’s
    top news stories from Canada and around the world.

    Young had given Spotify an ultimatum over concerns Rogan was spreading COVID-19 vaccine misinformation on his show.

    Young announced earlier this month he was coming back to Spotify, saying on his website that the same “disinformation podcast” is now featured on various streaming platforms and he can’t leave them all.

    Story continues below advertisement

    Rogan signed a new deal with Spotify in February, which the Wall Street Journal estimated was worth as much as US$250 million over several years.

    This report by The Canadian Press was first published on March 23, 2024.

    — with files from The Associated Press


    Click to play video: 'Taking a look at the musical history of Manitoba'


    Taking a look at the musical history of Manitoba


    &copy 2024 The Canadian Press

    [ad_2]

    Source link

  • Canopy Growth shares—predicted to hit zero last year—surge as Germany decriminalizes cannabis

    Canopy Growth shares—predicted to hit zero last year—surge as Germany decriminalizes cannabis

    [ad_1]

    Last summer, the survival of Canopy Growth was in doubt. This week, the Canadian cannabis company watched its stock rise by about 114%. 

    On Friday, Germany passed a measure decriminalizing possession and home cultivation of cannabis, starting on April 1. The measure won final passage in the Bundesrat, the upper chamber of Germany’s parliament, after some uncertainty.

    “The removal of narcotic status for cannabis is expected to accelerate growth of the German medical cannabis market,” the company said in a statement.

    Canopy, whose stock rose nearly 36% on Friday upon the news, owns the Germany-based vaporizer firm Storz & Bickel, giving it exposure to Europe’s largest economy. It also offers medical cannabis products through its Canopy Medical unit.

    The Friday rally added to an earlier one sparked by U.S. President Joe Biden’s State of the Union address on March 7, in which he mentioned the rescheduling of cannabis. Vice President Kamala Harris followed up by saying marijuana’s “absurd” Schedule I classification—which includes heroin and LSD—should be rescheduled “as soon as possible.”

    Other cannabis firms, including Tilray Brands and Cronos, also jumped after the news from Germany. 

    Low times

    Last summer, things looked far bleaker for Canopy. In late June, Benchmark analyst Mike Hickey slashed the price target on the company to zero, saying it “may not be able to continue operations and meet its financial obligations.” At the time, Canopy shares had fallen 78% for the year, and the company had acknowledged a going concern risk in its annual report. 

    Benchmark wasn’t alone in warning about Canopy’s prospects. CIBC Capital Markets analyst John Zamparo wrote that the company was “burning cash despite multiple cost-cutting programs,” adding that even the U.S. legalizing marijuana, if it happened, would be “no savior.” 

    In February last year, Canopy cut its workforce by 60%. CEO David Klein cited competition from Canada’s black market, which he estimated accounted for 40% of the nation’s cannabis sales.

    “Today, there are two very different cannabis markets in Canada,” he said at the time. “One that’s legal, highly taxed and regulated, and one that’s thriving and illicit.” 

    Canada legalized the use of recreational marijuana in 2018, the same year that beer-and-wine giant Constellation spent $3.8 billion for a 38% stake in Canopy. That deal sent Canopy’s market valuation soaring, putting it in the same league as plane maker Bombardier Inc. 

    Disappointment and uncertainty followed, but Canopy appears to be on steadier ground now.

    Subscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up for free.

    [ad_2]

    Steve Mollman

    Source link

  • Gambling.com to Acquire XLMedia Betting Assets in $42.5M Deal

    Gambling.com to Acquire XLMedia Betting Assets in $42.5M Deal

    [ad_1]

    Gambling.com Group, an award-winning performance marketing company serving the iGaming industry, has entered into an agreement to acquire XLMedia’s sports betting business in Europe and Canada. The $42.5 million deal comes in the wake of the signing of a new $50 million credit facility with Wells Fargo.

    Under the deal, Gambling.com will pay a fixed sum of $37.5 million, plus up to $5 million more, depending on the assets’ performance. The fixed consideration will be paid in three installments, including an initial payment of $20 million upon the completion of the deal, $10 million after 6 months and $7.5 million after a year. The potential earn-out will be paid out together with the final installment.

    To fund the purchase, Gambling.com will tap into its cash reserves, borrowings under its recent credit facility and future cash flow.

    The transaction will see XLMedia divest brands, such as Freebets.com, Nettikasinot.com, Vedonlyonti.com and WhichBingo.co.uk, among others smaller affiliates. Gambling.com expects the new assets to generate up to $10 million in revenue and approximately $5 million in incremental adjusted EBITDA from April, when the deal is set to close, to December.

    Gambling.com, however, will not acquire XLMedia’s North American business, which was the main driver of revenue in 2023. XLMedia will use the proceeds to cover transition costs, pay taxes and dividends, and supply the aforementioned NA business with capital. The deal aligns with the latter company’s goal to reorganize its business and focus on more profitable markets.

    The Deal Will Benefit Both Companies

    Charles Cillespie, Gambling.com’s group CEO, commented on the deal, saying that the new acquisitions will complement his company’s existing website portfolio in a number of key markets.

    The deal, he believes, will provide Gambling.com with opportunities to grow in high-margin jurisdictions.

    By operating these assets on our technology platform, we expect to unlock their full potential. We are confident that this latest acquisition will create incremental shareholder value in the same way we have done with previous acquisitions.

    Charles Cillespie, group CEO, Gambling.com

    Marcus Rich, XLMedia’s chairman, also commented on the matter, calling the sale an “excellent outcome” for XLMedia and its shareholders. He pointed out that the sale price is equal to two times the current market capitalization of the whole company.

    Importantly, this transaction will allow the company to clear legacy liabilities, provide working capital and return cash to shareholders.

    Marcus Rich, chair, XLMedia

    In other news, Gambling.com recently joined five like-minded US affiliates, namely Better Collective, Catena Media, Oddschecker Global Media, Spotlight Sports Group and XLMedia, to form the Responsible Gambling Affiliate Association (RGAA). The association seeks to promote regulatory improvements across US jurisdictions.

    [ad_2]

    Angel Hristov

    Source link

  • Read the full story here >>

    Read the full story here >>

    [ad_1]

    Read the full story here >>

    [ad_2]

    Source link

  • Shareholder payouts hit a record $1.7 trillion last year as bank profits surged

    Shareholder payouts hit a record $1.7 trillion last year as bank profits surged

    [ad_1]

    Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2024.

    Brendan Mcdermid | Reuters

    LONDON — Global dividend payouts to shareholders hit a record $1.66 trillion in 2023, according to a new report by British asset manager Janus Henderson.

    The Global Dividend Index report, published Wednesday, said payouts rose by 5% year-on-year on an underlying basis, with the fourth quarter showing a 7.2% rise from the previous three months.

    The underlying figure adjusts for the impact of exchange rates, one-off special dividends and technical factors related to dividend calendars, along with changes to the index.

    The banking sector contributed almost half of the world’s total dividend growth, delivering record payouts as high interest rates boosted lenders’ margins, the report found.

    Last year, major banks including JPMorgan ChaseWells Fargo and Morgan Stanley announced plans to raise their quarterly dividends after clearing the Federal Reserve’s annual stress test, which dictates how much capital banks can return to shareholders.

    “In addition, lingering post-pandemic catch-up effects meant payouts were fully restored, most notably at HSBC,” Janus Henderson’s report added.

    “Emerging market banks made a particularly strong contribution to the increase, though those in China did not participate in the banking-sector’s dividend boom.”

    However, the positive impact from banking dividends was “almost entirely offset by cuts from the mining sector,” according to Janus Henderson.

    The report noted that large dividend cuts by some major companies such as BHP, Petrobras, Rio Tinto, Intel and AT&T diluted the global underlying growth rate for the year by two percentage points, masking significant broad-based growth in many parts of the world.

    ‘Key engine of growth’

    Around 86% of listed companies around the world either increased dividends or maintained them at current levels in 2023, Janus Henderson said.

    A total of 22 countries, including the U.S., France, Germany, Italy, Canada, Mexico and Indonesia, saw record payouts last year.

    Europe was described as a “key engine of growth,” with payouts rising 10.4% year-on-year on an underlying basis.

    For 2024, Janus Henderson expects total dividends to hit $1.72 trillion, equivalent to underlying growth of 5%.

    — CNBC’s Hugh Son contributed to this report.

    [ad_2]

    Source link

  • Fogo Island: A far away comeback story | 60 Minutes

    Fogo Island: A far away comeback story | 60 Minutes

    [ad_1]

    Fogo Island: A far away comeback story | 60 Minutes – CBS News


    Watch CBS News



    A small island off the coast of Newfoundland is redefining itself with the help of a local businesswoman who combined deep pockets with a deep appreciation for the island’s past.

    Be the first to know

    Get browser notifications for breaking news, live events, and exclusive reporting.


    [ad_2]

    Source link

  • Why did the USWNT-Canada match continue? Explaining the rules around postponing games

    Why did the USWNT-Canada match continue? Explaining the rules around postponing games

    [ad_1]

    American soccer has dealt with two high-profile instances of extreme weather disrupting professional games in the last week. In both cases, despite conditions making it impossible to play at anything close to normal, the games went on.

    The most recent of the two happened on Wednesday, when steady and heavy rains flooded the field at Snapdragon Stadium in San Diego, Caif. before the U.S. women’s national team’s Gold Cup semifinal match against Canada. Conditions meant the ball could not travel on the ground farther than a couple of feet in most parts of the field, which played a direct role in the United States’ opening goal.

    “It was honestly insane,” Shaw said. “We had such a good warmup … the ball was moving really fast, and we were excited to just play and have a really intense game, and then we came back out and we were like, ‘What’s happening?’”

    Asked if the game should have been played, USWNT interim head coach Twila Kilgore said, “Probably not.”

    The previous Saturday, an MLS match between Real Salt Lake and Los Angeles FC was similarly affected, but by a different form of precipitation. That game, which was held at America First Field in Sandy, Utah, was delayed first by high winds and then again shortly after kickoff by lightning. Once the game began in earnest, snow had started to fall, resulting in accumulation of up to four inches and whiteout conditions by the end of Salt Lake’s 3-0 win.

    “It was one of the worst professional sporting events I’ve ever seen in my life,” LAFC head coach Steve Cherundolo said after the match, comments for which he was fined $10,000 by the league this week for violating the league’s public criticism policy. “I feel terrible for the players that we put them through this. The game could have and should have been called (off). In my opinion, it was an absolute disgrace we had to play today.”

    Why were these games allowed to play on?

    In North America, soccer games are usually only called off or delayed when there is lightning within a certain radius of the field or any sort of weather that would impact the structural integrity of the stadium. While baseball and tennis (which saw a recent competition postponed due to rain) are at the more delicate end of the cancellation, soccer is generally about as likely to play through bad weather as American football.

    There are numerous examples of professional and international soccer games played through bad conditions, with perhaps the most prominent example being the U.S. men’s national team’s World Cup qualifier against Costa Rica in Commerce City, Colo., just outside of Denver (dubbed by many U.S. fans as the “SnowClásico”). In the 2022 World Cup qualifying cycle, the U.S. hosted Honduras in St. Paul in February, with the temperature at kickoff hovering around 2 degrees Fahrenheit (-16 Celsius). That game, too, was played as planned.


    Herculez Gomez takes a corner in 2013’s ‘SnowClásico’ (Dustin Bradford/Getty Images)

    The fact that Saturday’s game continued to be played came as a surprise to new RSL signing Matty Crooks, who has spent his whole professional career in the United Kingdom.

    “Back in England, I’d probably say after about 10 minutes it would’ve been called off,” Crooks said. “But to be fair, no one in the changing room even mentioned it being called off, so it was like, ‘Alright, we’re going to play through it.’”

    USWNT forward Alex Morgan pointed out how the conditions on Wednesday turned a game that is largely played on the ground into something else entirely.

    “It’s just hard to even call it a game of soccer tonight, especially the first half,” she told the media afterward. “Your instincts are to dribble, and then you can’t dribble, you’ll lose the ball. Your instincts are not to hit it long when you have shorter options but we saw from the goal that Jae scored … that it’s anyone’s game and just to put instincts aside and just really grind this win out.”


    Alex Morgan tackled by a Canadian defender (Sean M. Haffey/Getty Images)

    What are the rules for W Gold Cup matches? Is that different from NWSL?

    Many professional games throughout the world are generally overseen by a person whose job it is to make sure that all the logistical things required to play are in place. This includes but is not limited to ensuring on-time arrival of both teams and the officiating crew, inspecting the field of play, ensuring security arrangements are met, and acting as the organizers’ representative on the ground. In CONCACAF, that person is called the match commissioner and is usually stationed on the sideline between the benches.

    CONCACAF rules for the W Gold Cup state that the decision on whether or not to play a game in case of inclement weather is up to the match referee (except in cases of lightning), but in practice it is the match commissioner who has the final say.

    “Technically and practically by law it is always in the ultimate decision of the referee to make that decision,” professional referee and CBS rule analyst Christina Unkel said during the halftime broadcast. “That being said, practically speaking, there is a match commissioner at each of these CONCACAF matches. As we saw within the first minutes of this game, the referee went and demonstrated that the ball was not in fact rolling when she went over to near the fourth official station, which is where the match commissioner stands. It was very clear from her demonstrative showing that she does not necessarily think this is a safe condition, but is being told to continue this match by that match commissioner.”

    CONCACAF did not respond to questions from The Athletic about the decision-making process that led to Wednesday’s game playing on.

    In the NWSL, weather delay decisions are made by a weather delay committee, according to the league’s 2023 rules and regulations. The committee is comprised of the referee, representatives from each team (usually the head coaches), and stadium staff.


    The 2012 Eastern Conference semifinal at Red Bull Arena was postponed due to Superstorm Sandy, and was eventually played in a Nor’easter (Jeff Zelevansky/Getty Images)

    What are the rules for MLS matches?

    According to MLS policy, “Matches may be delayed or postponed when circumstances exist such that the start or continuation of play would pose a threat to the safety and well-being of participants or spectators.”

    “The determination of whether a match is considered ‘delayed’ or ‘postponed’ shall be made by the League Office in its sole and absolute discretion,” the policy reads. The league generally makes that determination with input from meteorologists, staff at the venue and both competing teams.

    MLS says it considers safety for players, officials, staff and fans first, followed by competition-related factors like the playability of the field. The league also takes logistical factors into consideration, like availability of the venue and match officials if the game is played the following day. Broadcast implications and other commercial aspects are considered after the aforementioned factors.

    When rain flooded the Los Angeles area last February around the start of the MLS season, the league rescheduled its highly touted El Trafico between LA Galaxy and LAFC due to “safety considerations resulting from inclement weather” – factors that included flooded parking lots around the stadium. The game was rescheduled to take place months later, on July 4. LA had recorded its fourth-highest average rain total (6 inches). This February, LA saw 12.6 inches of rainfall — an inch less than the 1988 record.

    What’s the reaction been like?

    After the Real Salt Lake vs. LAFC game, LAFC defender Ryan Hollingshead said that the MLS Players’ Association would be notified of the players’ complaints.

    “My lower back is killing me,” he said.. “It’s just like trying to run on an ice rink. You’re sliding and slipping the whole time. The whole goal is just to not fall over and hurt yourself. It will absolutely be taken to the players association. I know our rep will be having that conversation immediately.”

    Reached on Thursday, an MLSPA spokesperson told The Athletic: “We’re continuing to discuss things that need to be done better with the players and the league. At this time, we have no further statement.”

    Reaction on social media to the playing conditions was universally negative. Former USWNT player Julie Foudy posted, “This is so insane. STOP THE MATCH.” San Diego Wave head coach Casey Stoney, whose NWSL team plays at Snapdragon Stadium, was concerned for the players on the field — including multiple representatives from the Wave — writing, “So dangerous!! Make the right call for player safety!”

    “Why are the players being put in this situation? No chance these are safe playing conditions,” former USWNT player Sam Mewis posted.

    (Top photos: Getty Images)

    [ad_2]

    The New York Times

    Source link

  • Company that runs Just for Laughs festival owes nearly $22.5 million: court documents  | Globalnews.ca

    Company that runs Just for Laughs festival owes nearly $22.5 million: court documents | Globalnews.ca

    [ad_1]

    Court documents show the company that runs the Just for Laughs comedy festival owes nearly $22.5 million to creditors.

    Groupe Juste pour rire Inc. announced Tuesday that it was seeking creditor protection and cancelling this year’s festival in Montreal, and said Wednesday that the Toronto event would be getting the axe too — at least temporarily.

    The papers filed in Quebec’s Superior Court show Juste pour rire owes $16.6 million to the National Bank of Canada.

    It also owes nearly $2 million to the Business Development Bank of Canada and more than $2.5 million to the Societe de developpement des entreprises culturelles, a Quebec government agency.


    Breaking news from Canada and around the world
    sent to your email, as it happens.

    A spokesman for the company declined to comment on the financial situation.

    Juste pour rire announced Tuesday that it had laid off 75 employees — roughly 70 per cent of its workforce — as it looks to restructure.

    Story continues below advertisement

    The company says it hopes the festivals will resume in 2025 once it has finished restructuring the business.

    The event in Montreal typically happens in July, and the Toronto festival had been scheduled for September.

    Juste pour rire blamed its financial woes on a number of factors, including the COVID-19 pandemic, inflation and the changing entertainment industry, though court records show a bailiff seized more than $800,000 in assets from the company last week after it failed to make a court-ordered payment to a former employee.

    That employee is not on the list of debtors filed in court.

    That list does include Equipe Spectra, a Montreal festival producer that is owed more than $611,000; and Bell Canada, which is owed more than $237,000. Bell Canada owns a 51 per cent stake in Juste pour rire with event promoter Evenko.

    Evenko and Equipe Spektra are both part of Groupe CH — a company headed by Geoff Molson, who sits on the board of Juste pour rire.

    &copy 2024 The Canadian Press

    [ad_2]

    Source link

  • Canada’s Most Popular Sport for Betting 2024 – Insights into Bettors’ Favorites – Southwest Journal

    Canada’s Most Popular Sport for Betting 2024 – Insights into Bettors’ Favorites – Southwest Journal

    [ad_1]

    Logically, every country in the world has its favorite sport. It is one of those sports that are popular for that climate, are played the most, and thus in some way penetrate the culture of the people.

    About Canada, a nation synonymous with maple syrup, politeness, and… ice hockey? Well yes, it can be said that hockey is the most popular sport to watch on TV, and therefore the most popular sport to bet on.

    For Canadians, hockey isn’t just a sport. It is better to say that it’s woven into the fabric of national identity. This deep-rooted passion translates to the betting world as well, making ice hockey the undisputed king of Canadian sports betting in 2024.

    Proof of that is the largest number of global and local betting services that say that Canadians enjoy this sport, so they are active in betting during the season. On the other hand, when it comes to site visits, Canadians also like to review sites such as hockey sites but also bet precisely because of hockey.

    It is clear to us that it is a passion for every Canadian to be addicted to this sport, but what makes this sport so special? What exactly fuels this national obsession with wagering on the ice? Let’s delve into the factors that solidify ice hockey’s position as the top dog in Canadian sports betting. Let’s start with a review of the factors.

    This Is the Nation that Has Skates Everywhere!

    This Is the Nation that Has Skates Everywhere!

    We can confirm one thing! Canada boasts a long and storied history with ice hockey. We can all see this fact from the past, especially from the last century when Canada had great success in hockey as a sport. From humble beginnings on frozen ponds to the bright lights of the NHL, the sport has captured the hearts of Canadians for generations.

    With that alone, each subsequent generation loves hockey more and more, and with that alone, the need and love to place one’s bet in bookmakers is born. This widespread love affair translates into a deep understanding of the game, making Canadians well-equipped to analyze games and place informed bets, but also to receive excellent monetary gains.

    The National Ice Hockey League Is the National Love of All of Canada

    The NHL, widely considered the premier ice hockey league globally, holds a special place in the hearts of Canadians. Yes, the world loves this ice hockey league, but not nearly as much as the people of Canada. Witnessing their hometown heroes battle it out on the ice to win first place generates immense excitement and national pride.

    It is for this reason that group viewings are organized every year, as well as visits to betting services online to place your bet on your favorite team or the best. This emotional connection fuels the desire to engage with the game beyond just watching, making betting an attractive option for many fans, and even for families who are so excited about the NHL.

    Hockey Is Not a Difficult Sport to Bet On, Especially in Canada

    Hockey Is Not a Difficult Sport to Bet On, Especially in CanadaHockey Is Not a Difficult Sport to Bet On, Especially in Canada

    The legalization of single-game sports betting in Canada in 2021 opened the floodgates for a previously untapped market. From here you can see the ease of placing a bet in a betting shop on any of the hockey matches. On the other hand, it is much easier and more accessible to analyze to give one’s opinion on the course of the match or the outcome.

    Numerous online and retail sportsbooks have emerged, offering convenient and accessible platforms for Canadians to place their bets. Nothing better than having everything organized and easily accessible like hockey available to bet on for every Canadian right?

    Betting Is Just a Tradition, and The Emotions Toward the Team Are the Ones that Prevail

    If in the world there are a large number of people who are lovers of sports, but not to such an extent that it hurts them to lose their team even though their bet was won. For many Canadians, betting on hockey goes beyond the potential financial gains. They want their team to win, even though they bet according to analytics and what is predicted.

    It’s about adding another layer of excitement to the viewing experience, to fully enjoy betting, but also watching the championship matches. The thrill of following a game with a wager on the line intensifies the emotions involved, fostering a deeper connection to the sport and the teams.

    This is the case with the Canadians with hockey, the English with football, the Americans with basketball, but also with a large number of other nations with their favorite sports, on which they bet.

    There Are Special Options for Canadians when It Comes to Hockey as A National Sport

    There Are Special Options for Canadians when It Comes to Hockey as A National SportThere Are Special Options for Canadians when It Comes to Hockey as A National Sport

    The beauty of hockey betting lies in its variety, and if you wonder why, the answer lies in the bookies. They offer a huge number of opportunities for anyone who wants to place their bet. From simple moneyline bets on the winner to complex player prop bets and futures bets on playoff champions, there’s something for every type of bettor.

    Each of the options is logical enough if you know the team, useful enough if you want to win and get money, but it is not unique, that is, you can choose any of the other options to guess the outcome.

    This diverse landscape caters to both casual fans looking for a fun way to engage with the game and seasoned bettors seeking intricate wagering opportunities. Everyone wants to win, and bookmakers offer a unique chance precisely through the options.

    Conclusion

    Canadians have a lot to brag about, and that’s great hockey, but also a lot of betting opportunities that make watching hockey a real holiday, as well as a tradition that everyone enjoys. Today we saw how great the love for national sports can be, but also how much and how the sport affects the popularity of hunger when it comes to it from the fans’ point of view.

    [ad_2]

    Oskar Zamora

    Source link

  • Beer Sales Flatten Thanks To Marijuana

    Beer Sales Flatten Thanks To Marijuana

    [ad_1]

    Observations gave an indication in California, but now Canada has the data. Legal marijuana is taking some of the foam and market share from beer.  But beer lovers, don’t panic yet, it is still the #3 most popular drink in the world behind water and tea. IT has been the king of hot days, after work hangouts and college campuses.  But a new era has emerged.

    RELATED: The Most Popular Marijuana Flavors

    This research, published last week in the journal Drug and Alcohol Dependence, not only marks a significant shift in the alcohol market but also raises questions about the broader implications of cannabis legalization on alcohol consumption habits.

    Photo by 2H Media via Unsplash

    Already, Gen Z has changed their drinking habits. Data shows alcohol has a smaller appeal to a strong percentage of Gen Z drinking-age adults (aged 21-24). A total of 27% say they never drink alcoholic beverages. Gen Z adults who drink do so more frequently than older adults – 47% of all Gen Z adults (21+) drink alcohol daily to weekly. Baby Boomer drinkers drink the least frequently, with 35% of all Boomers drinking alcohol at least weekly.

    Beer also has a few disadvantages as opposed to marijuana. Beer has higher calories, filling and, comparatively, a bit more expensive.  A quick gummy on a Monday night can take the edge off the day with less weight gain and a more filling wallet.

    The study’s authors concluded that the legalization of non-medical cannabis was linked to an immediate downturn in beer sales, a trend which persisted into the post-legalization period. This indicates a potential shift in consumer behavior, with individuals increasingly turning to legal cannabis as an alternative to beer.

    RELATED: People Who Use Weed Also Do More Of Another Fun Thing

    This is a positive societal sign as marijuana legalization spread. While not health food, cannabis has fewer harmful side effects and has proven medical benefits.

    [ad_2]

    Sarah Johns

    Source link