Good morning, It’s Wednesday, October 2nd. In today’s news, Iran strikes Israel with hundreds of rockets as IDF prepares a retaliatory response, Liberal capital gains tax hike could cost nearly $90 billion in lost GDP and over 400,000 jobs, Alberta announces legislation to protect women in sports and children from transgender surgery, UN ‘Pact for the Future’ draws concerns over CCP backing, and much more.
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Iran Strikes Israel with Hundreds of Rockets as IDF Prepares Retaliatory Response
Iran launched a large-scale missile attack on Israel, targeting cities like Tel Aviv and areas near the Dimona nuclear research center. Nearly 200 rockets were fired, with a total of 181 ballistic missiles aimed at Israel. The assault followed Israel's military action against Hezbollah leaders, leading to a heightened regional conflict.
The Iranian attack was framed as retaliation for the recent killings of key figures like Hezbollah's leader Hassan Nasrallah and Hamas's political bureau chief, Ismail Haniyeh. Israel has vowed a response but has not provided details on the timing or nature of its counterattack.
Global reactions include US military assistance to Israel, with American destroyers helping intercept Iranian missiles. Leaders worldwide condemned the escalation, urging de-escalation and ceasefires, while Iran called its strike a "legitimate response" to Israeli aggression. This attack represents the latest episode in the ongoing hostilities between Iran and Israel, rooted in decades of ideological and political conflict.
As of now, there have been no confirmed reports of Israeli casualties from the missile attack. Israeli military spokesperson Rear Admiral Daniel Hagari mentioned that he was unaware of any casualties, though the situation is still developing and details may change as more information becomes available. More
Liberal Capital Gains Tax Hike Could Cost Nearly $90 Billion in Lost GDP and Over 400,000 Jobs
The Liberals' capital gains tax hike is expected to cause more economic damage than previously thought, with new analysis projecting a $90 billion hit to Canada's GDP. Conservative MP John Barlow called the tax increase "devastating," citing a study that also predicts the loss of 414,000 jobs and a 3% decline in real per capita GDP.
The analysis, led by economist Jack Mintz, highlights the harmful effects of the tax hike, which took effect in June 2024. Mintz estimates that the increased taxation on capital will shrink Canada’s capital stock by $127 billion. He argues that the hike will discourage risk-taking and investment, further straining Canada’s already declining productivity.
Finance Minister Chrystia Freeland defended the tax as a "fair" measure to fund new spending, but many business leaders and healthcare professionals have raised concerns about its long-term impact. Despite claims that the hike would only affect a small portion of Canadians, polling suggests that nearly one in four expect to feel its effects.
Conservative Leader Pierre Poilievre has vowed to reverse the tax increase, warning that it will exacerbate Canada's economic struggles. More
Alberta Announces Legislation to Protect Women in Sports and Children from Transgender Surgery
Alberta Premier Danielle Smith has announced proposed legislation aimed at increasing parental involvement in school decisions related to gender issues and protecting women’s sports. The legislation includes a ban on gender reassignment surgeries for individuals under 18, and restricts the use of puberty blockers for those under 16, with additional consent requirements for 16 and 17-year-olds.
Key measures also include notifying parents if children under 16 request a change in pronouns that don’t align with their biological sex. For older teens, parental consent would still be required. Additionally, the legislation seeks to ban biological males from participating in women’s competitive sports at all levels.
Smith emphasized that the delay in gender-related procedures allows youth to fully understand their identity and future goals, such as having children. She also refuted claims that the rules are designed to target or harm individuals, stressing that they are intended to protect children.
The legislation is partly inspired by "detransition" cases, including that of Kiera Bell, who sued the UK’s Tavistock Centre for failing to safeguard her from experimental treatments. The United Conservative Party plans to introduce this legislation in the upcoming fall session starting on October 28th. Additionally, Smith's party will propose amendments to the Bill of Rights to protect Albertans from medical discrimination, such as vaccine passports. More
UN ‘Pact for the Future’ Draws Concerns Over CCP Backing
Last week, the United Nations, with strong support from the Chinese Communist Party, adopted the Pact for the Future, an agreement expanding UN influence over global governance. The pact's 56 actions include empowering international institutions, controlling "misinformation" through a Global Digital Compact, and pushing for the phase-out of fossil fuels. While UN officials hailed it as a step toward solving global challenges, critics warn it undermines national sovereignty and prioritizes left-wing agendas. US lawmakers and grassroots leaders expressed concerns that the pact ignores urgent issues like the CCP’s growing influence and could lead to increased censorship and erosion of freedom. More
Security Advisory: Iran Is Hacking US Officials and Political Campaigns
Iran is engaging in malicious cyber activity against US government officials, political campaign staff, and others linked to Middle Eastern affairs, according to a joint cybersecurity advisory. The cyberattacks, attributed to Tehran’s Islamic Revolutionary Guard Corps (IRGC), use phishing and impersonation tactics to steal personal and business account information. Victims include former government officials, journalists, and political activists. The FBI and UK agencies have observed attempts to hack US political campaigns, with Iran-based hackers targeting the 2024 election. Recent sanctions have been issued against Iranian agents involved in election interference. More
Rutte Declares Ukraine ‘Top Priority’ as He Takes Over as NATO Head
Mark Rutte officially took over as NATO’s new secretary-general, making Ukraine’s victory against Russia his top priority. The former Dutch prime minister stepped into the role amid uncertainty about future Western support for Ukraine, particularly with the upcoming US presidential election. Rutte expressed confidence in working with any candidate, including Donald Trump, despite concerns Trump might cut support for Ukraine if re-elected. He also emphasized the importance of ramping up defence production and monitoring conflicts in Israel and Lebanon as part of his broader agenda. More
Chinese National Arrested After 3 Children Hurt in Switzerland Stabbing Attack
A stabbing attack in Zurich left one boy seriously wounded and two others injured as they headed to a daycare center. The incident occurred around midday when a 23-year-old Chinese man attacked the children with a blade. A daycare worker and a passerby intervened, overpowering the assailant until police arrived. The injured boys, all five years old, received medical attention and were taken to the hospital. The motive behind the attack remains unclear, and police are investigating. This rare incident in Switzerland sparked political commentary, with the Swiss People’s Party highlighting it as an example of "imported crime." More
Hunger in Haiti Reaches Famine Levels as Gangs Squeeze Life Out of the Capital and Beyond
Nearly 6,000 people in Haiti are facing starvation, with about half of the population experiencing crisis levels of hunger due to worsening gang violence. A report by the Integrated Food Security Phase Classification states that 5.4 million Haitians are affected, a rise of 1.2 million in just a year. Gang violence disrupts food transportation, leaving many unable to access supplies, while inflation has made food unaffordable, with costs rising over 11% in the past year. Gangs control 80% of Port-au-Prince, severely hampering aid deliveries. More
Thousands of Dockworkers Shut Down US East Coast Ports in Major Strike
Tens of thousands of dockworkers have gone on strike along the US East Coast, disrupting traffic at 36 ports from Maine to Texas and raising concerns about shortages and inflation ahead of the November presidential election. The strike, organized by the International Longshoremen’s Association (ILA), is the largest in five decades and stems from a labour dispute over a new contract after their previous one expired. ILA is demanding a 77% wage increase over six years and protections against automation, while the employers’ group, United States Maritime Alliance (USMX), has offered a 50% wage hike. If the strike continues, analysts warn it could cost the US economy between $4.5 billion and $7.5 billion each week. More
Boeing Eyeing $10 Billion Stock Sale as it Runs Short on Cash
Boeing is considering selling around $10 billion in new stock to improve its balance sheet, according to Bloomberg. This potential stock sale comes after a difficult year for the company, marked by production issues and a recent strike involving 33,000 machinists that is costing Boeing about $50 million per day. The stock sale's timing hinges on the resolution of the strike, which has significantly impacted production and deliveries. Despite generating $77.8 billion in revenue last year, Boeing reported a negative free cash flow of over $4 billion in Q2 and has seen its stock plummet nearly 40% this year, closing at $152.04 per share. More
TD Bank to Pay More Than $28 Million in Settlement for Market Manipulation
TD Bank Group has agreed to pay over $28 million following an investigation into market manipulation involving US Treasuries by a former trader. The deferred prosecution agreement with the US Department of Justice reveals that the employee placed "spoof orders"—bids and offers that were cancelled before completion—creating a false impression of market supply and demand. The spoofing involved tens of billions of dollars and aimed to artificially inflate market prices. As part of the resolution, TD will pay approximately $12.6 million in civil penalties, $9.4 million in criminal penalties (the statutory maximum), $4.7 million in victim compensation, and $1.4 million in forfeiture. More
Vertical Strawberry Farm in Virginia Uses AI to Create Maximum Berries With Peak-Season Flavor Year-Round
In Virginia, Plenty Unlimited has launched what it claims is the world's first indoor strawberry farm. Utilizing an AI-based system, the farm can produce strawberries with peak-season flavour year-round while using 97% less land and up to 90% less water than traditional farming. The farm analyzes over 10 million data points daily across 12 grow rooms, adjusting conditions to meet the plants' needs. It employs a patent-pending pollination method using controlled airflow, which is said to be more effective than using bees. The facility, which occupies less than 40,000 square feet and features 30-foot-tall vertical towers, aims to produce over 4 million pounds of strawberries annually. Plenty will exclusively grow Driscoll's brand strawberries, with the first crop expected in stores by early 2025. More
Gut Bacteria Form Communities To Outsmart Medications, New Study Finds
Researchers at EMBL Heidelberg found that the impact of medications on gut bacteria diminishes when these bacteria form communities. In a Cell study, they discovered that certain drug-resistant bacteria can protect sensitive ones through "cross-protection," allowing them to thrive in drug-rich environments. However, at high drug concentrations, this resilience decreases, leading to "cross-sensitization," where resistant bacteria become vulnerable. The study highlights how bacterial interactions can inform personalized medicine, potentially minimizing drug side effects by considering the microbiome's dynamics. More
Attorney Says 120 Accusers Allege Sexual Misconduct Against Sean 'Diddy' Combs
Attorney Tony Buzbee announced he represents 120 individuals alleging sexual misconduct against Sean "Diddy" Combs, who is currently awaiting trial on sex trafficking charges. The claims involve 60 males and 60 females, including 25 minors, with allegations dating back to 1991. Buzbee criticized the extended duration of such conduct, stating it has left many victims "injured, scared, and scarred." Combs's attorney, Erica Wolff, denied all allegations as false and defamatory, emphasizing his eagerness to prove his innocence in court. The accusations primarily involve incidents at parties in New York, California, and Florida, where individuals were allegedly drugged. Buzbee's firm received over 3,280 reports from alleged victims, with many clients already having spoken to the FBI. More
Rebuilding With Dignity: Ujiri Shows His Cards for Raptors' 2024-25 Intentions
Toronto Raptors president Masai Ujiri announced the team's rebuilding focus for the upcoming 2024-25 season, following a disappointing 2-19 finish last year. He emphasized the importance of developing young talent, particularly around 23-year-old Scottie Barnes. Ujiri acknowledged the challenges of avoiding past mistakes in roster construction, highlighting the need for additional star players. While the Raptors seek to cultivate a competitive culture, they may need to accept a poor record to secure top draft picks for long-term success. More
Texas Man Pays $4,000 for ‘Autographed’ Taylor Swift Guitar at Auction Then Smashes it to Pieces with Hammer - The incident, captured on video at the Ellis County Wild Game Dinner, went viral after the audience cheered him on.
A Junk Dealer’s Wife Hated This ‘Horrible’ Painting — Turns Out, it was a $6 Million Picasso - Even though Luigi’s wife found the painting to be hideous, he put it in a cheap frame and displayed it on the living room wall at his home in Pompeii and kept it up for decades.
Russian Cosmonaut Spends Record-Breaking 1,111 Days in Space - 60-year-old Oleg Kononenko — is now the person with the most time ever spent in space.