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Pension problems 📉 — CPPIB is struggling. China is buying Russia’s oil. Globalive has a new deal with Telus.
Description
The Canada Pension Plan Investment Board (CPPIB) posted a 6.8% return on investments this past fiscal year, but lost 2.9% last quarter alone amidst global pressure on public equities and stock market selloffs, particularly in China.
As the EU works toward banning Russian energy imports (increasingly unclear what this means anymore in response to the war in Ukraine, China is getting ready to hit the oil equivalent of a warehouse sale.
Globalive announced it has struck a 20-year agreement to access the Telus’ wireless network, which aims to assure that Freedom Mobile, if they acquire it, will be able to offer a quality, cross-country network that could compete with Rogers, Telus and Bell.
The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.