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Firing off: Canada's wildfires have gotten even worse

Firing off: Canada's wildfires have gotten even worse

10/1/23 7:00PM

Firing off

Canada’s wildfire season, which we were charting about back in August, was already the country’s worst on record. However, in the past week — when, historically, wildfire rates should decline as temperatures start to drop — it’s gotten even worse.

Fires have ravaged forests across five Canadian provinces and territories, from British Columbia to the Northwest Territories to Nova Scotia, continuously throughout the last 21 weeks of long, hot summer. Indeed, the past week alone has seen a total land area burned comparable to nearly an entire typical fire for Canada.

Up in smoke

The recent fires have brought the total for the season to nearly 18 million hectares — equivalent to the state of Washington or about 80% the size of Minnesota — resulting in more than 230,000 people being evacuated and over 4,300 international firefighters being brought in to quell the out-of-control blazes. Beyond the devastating loss of land, the fires have also tripled the record for carbon emissions from previous wildfire seasons: Canadian fires have emitted almost 410 megatons of carbon in 2023, accounting for over a quarter of the year’s global wildfire emissions to-date.

Smoke from the fires is expected to blanket regions of the Northeastern US in the next few days, including New York. Alongside currently managing severe flooding, NYC is forecast to suffer through an Air Quality Index of around 55 — still much lower than the recordings seen in June, when wildfire-borne plumes from Canada caused New York to briefly have the worst air quality of any city in the world.

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Amazon is testing adding GM electric vans to its EV delivery fleet dominated by Rivian

Rivian may have some competition in its electric delivery van division: Bloomberg reports that Amazon is testing a small number of GM’s BrightDrop vans for its fleet.

According to Amazon, the test currently only includes a dozen of the vehicles. Amazon’s fleet also contains EVs from Ford, Stellantis, and Mercedes-Benz.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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