What’s In This Email

• Canada’s news industry is on the brink, should Ottawa help?

• Canada Jetlines has suspended all flights, and it’s not promising

• Moving forward we will only listen to music in 8D

• It’s OK* World Music Festival

• Notable Spotlight: Mandy’s Summer Salad Sale

• Notable Plug 🔌

✍️ TAKE NOTE

Canada's News Industry on the Brink: Should Ottawa Step In or Step Back?

Canada's news industry is in serious trouble, and the question is whether the government should intervene to save it. With Meta's decision to block news content in Canada, engagement with Canadian outlets has plummeted by over 40%, leaving an already struggling industry in even worse shape. Despite government efforts, such as subsidies and tax rebates, newsrooms continue to shut down, and the industry faces a bleak future.

Key Takeaways

• Meta's Impact: Meta's news ban has further weakened the reach of Canadian news, with significant drops in engagement across social media.

• Government Intervention: Ottawa has introduced various measures to support the industry, but these efforts have not stopped the decline of traditional media outlets.

• Market Challenges: The dominance of Google and Meta in the advertising market has crippled traditional revenue models for news outlets, leading to mass layoffs and closures.

• The Debate: Some argue that more aggressive regulation of tech giants is needed, while others believe the industry must adapt to survive without heavy government subsidies.

Why It Matters: The decline of Canada's news industry poses a significant threat to democracy, as fewer journalists mean less accountability for those in power. The ongoing debate about whether Ottawa should intervene more forcefully or allow market forces to take their course is critical. The future of Canadian journalism—and its role in holding power to account—hangs in the balance.

Read the full article here.

Canada Jetlines Grounds Operations Amid Financial Struggles, Plans to File for Creditor Protection

Canada Jetlines has announced the immediate suspension of all flights, marking another blow to Canada's already struggling commercial aviation industry. The airline, which primarily served sun destinations from Toronto, revealed that it could not secure the necessary financing to continue operations and plans to file for creditor protection. Passengers are advised to seek refunds through their credit card companies.

Key Takeaways

• Failed Financing Efforts: Despite exploring various financing options, including strategic transactions and equity, Canada Jetlines was unable to raise the funds needed to stay afloat.

• Leadership Exodus: The grounding comes shortly after the resignation of four key executives, including CEO Brigitte Goersch, signaling deep internal challenges.

• Industry Challenges: Canada Jetlines is the latest in a series of airline shutdowns in Canada, following the closures of Lynx Air and Swoop. The airline struggled to compete in a market dominated by Air Canada and WestJet.

• Financial Struggles: The airline reported a loss of $14.2 million over the past year and faced consistent challenges since its launch in 2022, including delays, layoffs, and difficulty in securing investment.

• Expert Insight: Aviation expert John Gradek commented on the airline's precarious situation, suggesting that the collapse was inevitable given its financial instability and operational challenges.

Why this matters: As the Canadian aviation industry faces significant turbulence, it's crucial for passengers and investors to stay informed. Monitor developments and explore alternative travel options to ensure your plans aren't disrupted. If you've booked with Canada Jetlines, contact your credit card provider to secure a refund promptly.


Read the full article here.

@itsok_world

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Mandy’s Summer Salad Sale

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🔌 NOTABLE PLUG

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🧠 Today We Learned: the EU is working on a "Digital Product Passport" so consumers can track where a product comes from, what it's made from, how to repair it, and how to dispose of it. This includes clothing, chemicals, and electronics.

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Notable Life is Canada for young professionals, entrepreneurs, and culture generators operated by The Notable Group. Notable Daily inspires ideas and sharpens the minds of over 40,000 top-tier professionals in competitive industries.

Disclosure: While we utilize artificial intelligence (AI) to assist with certain aspects of content development, all information provided in our content is thoroughly vetted and edited by our team of humans. We strive to ensure the accuracy and reliability of all information. However, we recommend that readers conduct research or seek professional advice to make informed decisions. This email may contain sponsored content.