Dear valued client,
Markets rose again this week to new all-time highs. Even Apple’s stock faired well despite their disastrously-received new ad. The unveiling of its new iPad Pro through an ad titled “Crush!” has sparked widespread criticism and raised concerns about the company’s marketing strategy. The commercial, featuring a hydraulic press crushing various creative objects, drew backlash for its perceived insensitivity and departure from Apple’s iconic branding. With the ad receiving over 53 million views in just two days, Apple faced significant public scrutiny, prompting a rare apology and the decision to pull the ad from TV airing. This misstep comes at a precarious time for Apple, as it grapples with legal challenges, including a lawsuit from the Justice Department alleging monopolistic practices in the smartphone market.
In Canadian news, another carbon pricing dissident came forth in recent days. Mark Carney, former Bank of England governor, once considered carbon pricing a crucial tool in combating emissions. Not anymore, expressing shifting attitudes towards environmental policies. The prominent economist’s pivot away from carbon taxes underscores broader challenges facing such policies. While traditionally viewed as a less intrusive means of curbing emissions, carbon pricing has encountered growing resistance, reflected in its declining popularity. Carney’s departure from his previous position aligns with a trend seen in other political figures, such as NDP Leader Jagmeet Singh, who cited concerns about its impact on working-class individuals. Will the Trudeau Liberals continue to support this unpopular initiative amidst sinking poll numbers and higher fuel prices (have you been to the gas station lately?)?
The war between Israel and Hamas in Gaza, particularly the Israeli offensive into Rafah, has raised concerns regarding regional stability and its impact on humanitarian aid efforts. The control of key border crossings by the Israeli military has disrupted the flow of essential supplies into Gaza, exacerbating existing humanitarian crises. Despite international pressure, including from long-time ally the United States, Israeli Prime Minister Benjamin Netanyahu remains resolute in military action. Israel’s goal has been consistent: eliminate Hamas and return the 100+ hostages still being held captive.
Could this be the beginning of the end for Hamas?“Whoever fights monsters should see to it that in the process he does not become a monster.” – Friedrich Nietzsche
Have a terrific weekend,
PW
