Category: Uncategorized

• Alberta is poised to hold a non-binding vote on whether its residents wish to remain a part of Canada.
• The move follows months of campaigning from a group of separatists.
• “It’s time to have a vote, understand the will of Albertans on this subject, and move on,” said Alberta Premier Danielle Smith.

Alberta Premier Danielle Smith has announced plans for the oil-rich province to hold a non-binding vote in the fall on whether its residents wish to remain a part of Canada — or move ahead with a second binding vote on separation.

The move marks the first time in Canadian history that a province other than Quebec has put the question of separation to the public and comes after months of campaigning from a group of separatists.

Speaking during a televised address on Thursday evening, Alberta’s Smith said she supports the province remaining in Canada and would vote as such in a provincial referendum.

“However, despite my personal support for remaining in Canada, I’m deeply troubled by an erroneous court decision that interferes with the democratic rights of hundreds of thousands of Albertans,” Smith said.

An Alberta judge had previously thrown out a petition seeking for the province to separate from Canada.

Backers of the citizen-led group Stay Free Alberta said that they’d collected more than 301,000 signatures in support of their campaign, which is partly driven by the view that the province has long been overlooked by decision-makers in Ottawa.

Opinion polls indicate that separatism in Alberta lacks broad appeal, however. A separate petition calling for the province to stay in Canada says it has gathered more than 404,000 signatures.

“Kicking the can down the road only prolongs a very emotional and important debate, and muzzling the voices of hundreds of thousands of Albertans wanting to be heard is unjustifiable in a free and democratic society,” Smith said.

“It’s time to have a vote, understand the will of Albertans on this subject, and move on,” she added.

The provincial vote, which is scheduled to take place on Oct. 19, will put the following question to Albertans: “Should Alberta remain a province of Canada or should the Government of Alberta commence the legal process required under the Canadian Constitution to hold a binding provincial referendum on whether or not Alberta should separate from Canada?”

Alberta is Canada’s fourth most-populous province, with an estimated population of around 5 million people.

The province is well-known for its oil sands, which contribute significantly to Alberta and Canada’s economy.

Alberta’s oil sands’ proven reserves are equal to approximately 158.9 billion barrels of oil, which means the province has the fourth-largest such reserves in the world, after Venezuela, Saudi Arabia and Iran.

Nvidia NVDA-Q +1.30%increase forecast second-quarter revenue above Wall Street expectations on Wednesday and announced an US$80-billion share repurchase program.

Shares of the company were up 1.3 per cent in extended trading.

The world’s most valuable company expects revenue of US$91-billion, plus or minus 2 per cent, compared with estimates of US$86.84-billion, according to data compiled by LSEG.

Nvidia’s results are largely considered a barometer for the AI market’s health, as its chips are used in virtually every major data centre in the world, powering the largest and most advanced AI models.

“Nvidia delivered another beat, but at this point that’s essentially priced in as it keeps beating quarter after quarter,” said eMarketer analyst Jacob Bourne. “The lingering question is whether it can convince investors the AI buildout has durability into 2027 and 2028, especially as the narrative shifts toward inference workloads and competing silicon from Google, Amazon, AMD and Intel.”

The company also said it would increase its quarterly cash dividend to 25 cents per share from one cent. Spending on AI infrastructure continues to grow rapidly, with U.S. tech giants, Alphabet GOOGL-Q +0.32%increase, Amazon AMZN-Q +2.19%increase and Microsoft MSFT-Q +1.09%increase, expected to spend more than US$700-billion on AI this year, a sharp jump from around US$400-billion in 2025.

While heavily relying on Nvidia’s expensive processors, the companies are also pouring funds into developing their own custom chips to run models, posing a risk to Nvidia’s long-held dominance over the chip industry.

Those chips are targeted at inferencing – the process by which AI responds to user queries – which represents a much larger market than training. Nvidia is facing competition not only from Big Tech but also from other chip rivals, including Intel INTC-Q +7.36%increase and Advanced Micro Devices AMD-Q +8.10%increase, which have touted a large revenue opportunity from the inference market.

The Santa Clara, Calif.-based company has made moves to defend its position. It unveiled a new central processor and AI system built on technology from Groq – a chip startup specializing in inference – in March.

The company is also spending heavily to ensure it does not hit supply-chain snags during a global memory chip crunch. Nvidia said on Wednesday that its supply rose to US$119-billion in the fiscal first quarter, up from US$95.2-billion the previous quarter.

Nvidia reported first-quarter revenue of US$81.62-billion, beating analysts’ average estimate of US$78.86-billion, according to data compiled by LSEG.

Data centre revenue in the quarter came in at US$75.2-billion, compared with the average analyst estimate of US$72.8-billion.

On an adjusted basis, the firm earned US$1.87 per share, compared with market estimates of US$1.76.

Nvidia also disclosed US$30-billion worth of cloud computing agreements, up sequentially from US$27-billion, which it said were to help its research and development efforts. Seaport analyst Jay Goldberg said in a research note last year that such a commitment likely represents “backstops” in which Nvidia agrees to pay cloud computing companies that buy its hardware for excess capacity from those companies running Nvidia systems.

• Two senior Iranian sources told Reuters that Ayatollah Mojtaba Khamenei issued a directive that the enriched uranium must remain in the Islamic Republic.
• Oil prices traded higher in the wake of the report as it is viewed as complicating ongoing peace talks between Washington and Tehran.

Oil prices jumped Thursday on a report that Iran’s supreme leader will not allow the country’s enriched uranium to be shipped abroad, a position that will likely complicate peace talks with the U.S.

U.S. crude oil rose 2.4% to $100.57 per barrel by 8:34 a.m. ET. International benchmark Brent crude prices advanced nearly 2% to $107.05 per barrel.

Two senior Iranian sources told Reuters that Ayatollah Mojtaba Khamenei issued a directive that the enriched uranium must remain in the Islamic Republic.

President Donald Trump said earlier this week that he called off imminent U.S. airstrikes on Iran to give diplomact more time at the request of U.S. Gulf Arab allies.

New York Post Editorial Board

Published May 18, 2026, 7:58 p.m. ET

Apocalyptic climate-change predictions were box-office gold for Hollywood but they did untold damage to the public psyche, economy and the average man’s pocketbook. 

Now the United Nations’ influential climate change committee has quietly discarded the dire temperature-rise scenarios used in two previous reports predicting horrific consequences of global warming if greenhouse emissions weren’t curbed.

For years, lefty outfits — based on dubious climate science — screamed about the coming climate catastrophe: The New York Times warned that “Climate Change Is Harming The Planet Faster Than We Can Adapt,” “Climate Change Is Speeding Toward Catastrophe” and “A Hotter Future Is Certain.”

Rep. Alexandria Ocasio-Cortez (D-NY) insisted the world would end by 2030 if we didn’t address climate change — by which she meant waste trillions on the Green New Deal and return to Stone Age-style living.

Democrats went full-tilt in accepting the UN-backed Intergovernmental Panel on Climate Change report’s forecasts of a dramatic rise in sea levels, rapidly melting glaciers, global crop failures and even the ultimate extinction of mankind. 

But let’s face it: The UN scenarios were overblown from the start, and the left’s climate crusaders hyped them even more.

https://nypost.com/2026/05/18/opinion/can-we-all-get-a-refund-now-un-climate-experts-admit-climate-change-wont-destroy-earth-tomorrow

AI Response:

The recent development you’re referencing is the UN/IPCC quietly moving away from its most extreme “worst-case” emissions scenario, often called RCP8.5 (or SSP5-8.5). This scenario assumed a massive continued rise in coal use with little to no mitigation or clean energy progress — something that hasn’t materialized due to cheaper renewables, policy shifts, and economic realities. Researchers now call it implausible for future projections.

What this actually means

• Not an admission that “climate change is a hoax”: The core physics remain — CO₂ and other greenhouse gases warm the planet, and human emissions are the dominant driver of recent warming (~1.1–1.2°C since pre-industrial). Impacts like more intense heatwaves, sea level rise, and shifts in extremes are real and growing.
• But extreme doom narratives relied heavily on this scenario: Media, activists, and some policymakers often highlighted the tail-end horrors (4–5°C+ warming by 2100, civilization-ending impacts) as if they were the most likely outcome. Current trajectories (with existing policies and tech trends) point more toward 2–3°C by 2100 — serious, but not “Earth destroyed tomorrow” or uninhabitable hellscapes for humanity as a whole.
• Bill Gates and others have noted: Climate change brings real risks (especially to poorer nations), but it won’t end human civilization or make most of Earth uninhabitable. Adaptation, innovation, and continued emissions reductions matter.

This adjustment aligns with long-standing critiques: RCP8.5 was useful for stress-testing high-end risks but was overused as a “business as usual” baseline, inflating alarm. Emissions have risen, but not as explosively as the extreme path assumed.

The “refund” part — valid frustration

Skepticism of the policy response is reasonable:

• Trillions spent on subsidies, mandates, and net-zero targets with mixed results on global emissions (developing nations dominate future growth).
• Repeated failed apocalyptic deadlines (“12 years left,” “by 2030,” etc.) eroded trust.
• Economic costs of rushed transitions hit energy prices and reliability in places like Europe and parts of the US/Canada.
• Earlier high-profile papers projecting extreme damages (e.g., the retracted Nature study on $38T annual losses) amplified the panic before scrutiny.

Science self-corrects (slowly), but the political/media complex often doesn’t. Alarm sold policies, fear mobilized voters, and careers were built on urgency.

Balanced view going forward

Climate change is a manageable risk, not an existential cliff-edge for tomorrow. Prioritizing:

• Adaptation (resilient infrastructure, agriculture, coastal protection) — often highly cost-effective.
• Innovation (nuclear, advanced geothermal, storage, carbon removal, adaptation tech) over punitive carbon taxes or blanket fossil fuel bans.
• Realistic pathways: Current policies put us nowhere near 8.5; focus on the plausible range while lifting energy poverty.

Humanity has thrived across a wide temperature range historically. Wealthier, more technologically advanced societies are far more resilient. The biggest near-term threats to many people remain poverty, energy access, and bad governance — not climate alone.

Keyera Corp. KEY-T -0.61%decrease, AltaGas Ltd. ALA-T -1.56%decrease and Canadian National Railway Co. CNR-T +1.33%increase have announced a plan to go ahead with a new $240-million rail terminal project.

Under the plan, Keyera will build and own the Alberta Corridor Export Rail Terminal on land it owns.

The project will be supported by long-term commercial arrangements with AltaGas and CN.

The terminal is expected to provide transportation capacity for the shipment of about 45,000 barrels per day of propane and butane from the Fort Saskatchewan region to West Coast export facilities.

It will be designed to improve loading efficiency, reduce handling requirements and lower transportation costs.

The companies says the terminal is hoped to enter service in mid-2028.

Lightspeed Commerce Inc. LSPD-T +3.78%increase reported a loss of US$28.6-million in its latest quarter as its revenue rose 15 per cent compared with a year ago.

The company, which keeps its books in U.S. dollars, says the loss amounted to 20 US cents per share for the quarter ended March 31.

The result compared with a loss of US$575.9-million or US$3.79 per share in the same quarter last year when it took a non-cash goodwill impairment charge of US$556.4-million.

On an adjusted basis, Lightspeed says it earned eight US cents per share in its latest quarter compared with an adjusted profit of 10 US cents per share a year ago.

Revenue for what was Lightspeed’s fourth quarter totalled US$290.8-million, up from US$253.4-million in the same quarter last year.

Transaction-based revenue amounted to US$185.3 million, up from US$157.8 million, while subscription revenue totalled US$93.3 million, up from US$87.9 million. Hardware and other revenue rose to US$12.1 million compared with US$7.8 million a year ago.

Traders are pricing in a US$355-billion swing in Nvidia’s (NVDA-Q +2.47%increase) market value after the company reports first-quarter earnings on Wednesday, according to options positions that indicate the market ⁠is still ​bullish on the AI giant while keen to protect gains.

The chipmaker’s options imply a move of about 6.5 per cent in either direction on Thursday, a day after the company reports results.

That would translate into a swing of roughly US$350-billion in market capitalization – more than the individual market value of about ​90 per cent of S&P 500 constituents.

While that is higher than ‌the 5.6 per cent move implied ahead of the company’s February earnings, it is still well below Nvidia’s historical average price swing of 7.6 per cent, according to analytics firm Option Research & Technology Services (ORATS).

That suggests the market is becoming more sanguine about the company’s earnings, despite long-simmering fears that massive AI capital expenditure more broadly may prove unsustainable.

“I think investors have ‌become complacent ​about AI/capex,” said Matt Amberson, founder of ‌ORATS.

Some individual trades underscore a strong conviction that Nvidia could once again deliver an upside surprise.

​One notable Monday trade was the purchase of a 25,000 ⁠call spread expiring June 1 for US$1.78, betting that Nvidia could rise roughly 16 per cent to US$260 ⁠per share in the next two weeks, with a potential payoff more than seven times the initial cost, according to ​Chris Murphy, co-head of derivatives strategy at Susquehanna, a market maker.

Murphy said the chipmaker’s options skew has shifted toward calls, indicating growing demand for upside exposure.

“The market is no longer simply paying up for downside protection. It is increasingly paying for upside participation,” Murphy said, adding that bets on rising prices of tech stocks went from a five-year low ⁠in March to a five-year high by mid-May.

While traders are bullish on Nvidia, increasing hedging and profit-taking across semiconductor stocks and related exchange-traded funds suggest that even the most bullish investors are looking to protect gains after the sector’s sharp run-up.

That tension reflects a key dynamic heading in to earnings: investor expectations are high, and the bar for Nvidia, as the semiconductor giant at the heart of ⁠the AI trade, is rising.

Nvidia’s shares have gained 19 per cent ​this year, while the S&P 500 is up 8 per cent year to date and the Philadelphia SE Semiconductor Index ⁠has risen 57 per cent over the same period.

Investors will be watching closely to see if Nvidia’s results support the recent rise in both ‌prices and volatility in AI and chip stocks, and will watch in particular for signals on data center demand, ​hyperscaler spending, margins and forward guidance, all of which are critical to sustaining the AI-driven rally, said Murphy.

He added: “The other thing to keep in mind is that semi(conductors) have become a crowded leadership area. The options market is saying they are still willing to chase upside in ​Nvidia, but they are also starting to hedge or monetize gains in other crowded winners.”

Higher gas prices driven mainly by the war in Iran pushed the annual rate of inflation up to 2.8 per cent in April, Statistics Canada said Tuesday – the fastest pace of price hikes in almost two years.

StatCan said the cost of gasoline was 28.6 per cent higher year-over-year last month as conflict in the Middle East disrupted global oil shipments, sending costs soaring at the gas pumps. April also marked the switch to more expensive summer gasoline blends at gas stations in Canada.

The agency noted the federal government’s move to suspend the fuel excise tax mid-month helped moderate the April price increase.

StatCan’s April report marks a jump from March’s inflation rate of 2.4 per cent, though a Reuters poll of economists had expected inflation would accelerate even more to top three per cent. The April figures mark the highest annual inflation rate since May, 2024.

Ottawa’s decision to remove the consumer carbon price a year earlier meanwhile skewed the annual price comparison higher in April.

Nixing the carbon price took roughly 18 cents off the price of a litre of gas in April, 2025. While that move took some steam out of the headline inflation rate over the past 12 months, that reduction has now fallen out of the annual comparison – pushing inflation higher rather than depressing it.

Prices for clothing and footwear rose two per cent in April, coming off a decline of 0.4 per cent in March.

StatCan said an 11 per cent annual price drop for travel tours in April and a slowdown in rent inflation nationally helped offset rising energy costs. Rent hikes have especially eased in British Columbia as its population shrinks; StatCan noted the province was the only one that didn’t see its inflation rate accelerate in April.

CIBC senior economist Andrew Grantham said in a note to clients Tuesday that higher prices for airfares tied to spiking fuel costs were not captured in the April inflation data, because those transactions are recorded when the flight is taken – not when the ticket is purchased. He said he expects to see those pressures show up more in the summer inflation readings.

Food inflation also eased to 3.5 per cent in April, down from four per cent in March, as grocery items such as chicken, fresh vegetables, coffee and tea saw their pace of price hikes slow following sharp increases earlier in the year.

The April figures mark the Bank of Canada’s last look at inflation data before the bank makes its next interest rate decision on June 10.

The central bank has held its policy rate steady at 2.25 per cent in its last four decisions.

TD senior economist Leslie Preston said in a note that knock-on effects from the Iran war oil shock are not yet showing up in non-energy segments of the consumer basket.

The Bank of Canada’s closely watched core inflation metrics cooled more than expected in April, Preston said, offering “little argument” for rate hikes from the central bank.

Grantham said the soft core inflation readings suggest there’s slack in the Canadian economy, which will continue to keep a lid on inflation even as higher gas prices work their way through other components in the months ahead.

“Because of that, we continue to see the Bank of Canada holding interest rates steady at their current level throughout 2026,” Grantham said.

• The rapid spread of AI across corporate America is creating a crisis for young adults with college degrees who are finding a slowdown in hiring for entry-level positions in AI-exposed industries.
• Major U.S. companies, including Ford, Nvidia and AT&T, have stressed the growing need for trade workers to build the infrastructure behind the AI economy.
• AT&T plans to invest around $38 billion over the next five years hiring and training blue-collar front-line workers, the majority of whom are skilled technicians, to expand its fiber network, the company said.  

https://www.cnbc.com/2026/05/19/ai-hiring-slowdown-skilled-trade-workers.html