From today, cannabis is legal in Canada; Uber eyes huge IPO, and more top news
LinkedIn Daily Rundown (Canada)
The news Canadian professionals need to know now.
The news Canadian professionals are talking about now, curated by LinkedIn’s editors. Join the conversation by clicking the hashtags below.
Canada today becomes the first G7 country to legalize and regulate marijuana for recreational use. The Cannabis Act allows adults 18 years or older to possess up to 30 grams of legal cannabis in its fresh or dried form, in public. In British Columbia, one shop selling cannabis opened Wednesday; Quebec is expected to open 12 outlets and Alberta could have fewer than 24. Ontario won't have any stores selling marijuana but consumers will be able to buy cannabis online from federally-licensed producers. • Here’s what people are saying.
Uber has been valued as high as USD$120 billion for an initial public offering that could take place early next year. Goldman Sachs and Morgan Stanley gave the ride-hailing company the valuation proposals last month, reports The Wall Street Journal, nearly doubling Uber’s valuation from two months ago. Lyft, Uber's biggest competitor in the U.S., is also expected to go public in the first half of 2019 with a valuation predicted to top the previously reported USD$15.1 billion. • Here’s what people are saying.
Tesla CEO Elon Musk’s settlement with the Securities and Exchange Commission over fraud allegations has been approved by a judge. In addition to stepping down as chairman for at least three years, Musk must pay a USD$20 million fine to the SEC. The agreement was reached in September, when the agency sued Musk over a Twitter post claiming he'd secured funding to take the electric-car company private. Musk will remain Tesla’s chief executive. • Here’s what people are saying.
Walmart lowered its profit target for the year, as the world’s largest retailer absorbed its biggest acquisition ever in Flipkart, the Indian e-commerce site. The $16 billion purchase will also result in just 10 store openings next year. Walmart expects online sales to ramp 35% higher this year, while it sees same-store sales growing between 2.5% and 3%.• Here’s what people are saying.
After decades of increasing tuition, universities are going the other way — either by flattening costs or bringing them right down. The combination of fewer students applying for college and more grants being out given means that higher education is not as expensive as it used to be. Yet, according to the College Board, the “sticker price,” or the actual price of college, continues to rise — it's just fewer students are paying it. • Here’s what people are saying.
Idea of the Day: Ditch your mobile devices when at home with your family, writes USC Annenberg School for Communication and Journalism Dean, Willow Bay.
“I'm adamant about not bringing my phone to the dinner table. I’ve also been known to bring out a festive red basket during holiday get togethers and ask everyone to deposit their phones.”
What's your take on today’s stories? Share your thoughts in the comments.
(IREM), CLO, FRI (REIC)
6yThe Feds have legalized this drug in Canada but apparently have failed to address the ramification as it affects the two lower levels of government including appropriate funding for law enforcement.
Contributing Writer & Editor - Defence and Aviation
6yNo kidding. PM Selfie Socks is a disgrace. His Mr. Dressup antics embarrass patriotic Canadians. More liberal social experimentation. And he hates the military, just like his father. Make sure you hold your candidate in the upcoming federal election accountable to repeal this insane legalization of cannabis.
Director at VR Operation Engineering Group
6yToday cannabis are legal ...wait for some more time cocain, LSD, math etc are lined up .... Also it makes every body travel difficult because we Can@@@an are drug dealer
Sole remaining original member of The Nylons.
6yI’ve been smoking marijuana every day for the past 30 years, and I haven’t found it to be habit forming!
Sole remaining original member of The Nylons.
6yI think they must have picked the date from a hat. 6 months + would have been 4/20. Easier to remember for those of us with compromised short term memories. 🤔