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Category: 3. Business

  • Are a record number of mom and pops going bankrupt? Kinda but not really | Gene Marks

    Are a record number of mom and pops going bankrupt? Kinda but not really | Gene Marks

    Are mom-and-pop stores going bankrupt at historically high levels? That would seem to be the impression you’d get from recent news reports referencing data released from Epiq Bankruptcy Analytics, a provider of legal services that specializes in bankruptcy services.

    Uh-oh! Some have seen this as proof that Donald Trump’s policies are bankrupting Main Street. Well, no, not quite.

    It is true that, according Epiq’s data, there were 2,221 filings for bankruptcy protection under a special provision for small businesses of the bankruptcy code – subchapter V – that was created for this purpose back in 2019. And it is true that the number of filings increased last year. But by how much? Ten. No, you’re not misreading this. There were 2,211 filings in 2024, 10 fewer than 2025.

    What about prior years? Between 2020 (the first year of inception of subchapter V) and 2023 there were an average of 1,379 filings, so you can make a case that, as the law became more well known, more filings were made by small businesses. However, let’s remember that there are more than 33m small businesses in the US, according to the Small Business Administration. The historically high 2,221 bankruptcies is statistically (and laughably) meaningless.

    And even if you consider all the bankruptcies filed for all business sizes, the numbers are still not a cause for concern. Bankruptcy filings by the end of the Biden administration in 2024 had risen more than 25% compared with when Joe Biden took office. Covid didn’t help. And yet those filings were still 25-50% lower than the bankruptcy filings from 2009 to 2019 and remained that way in 2025. The number of US businesses going bankrupt is still at historically low levels.

    But should they be this low?

    It’s common knowledge that the typical lifespan of a startup is two to five years, with 70% going out of business before reaching their fifth year. The period between 2019 and 2024 saw the largest spike in new business filings in US history, with more than 21m new business applications submitted during that period. Intuit says that side-gig activity is “booming” and “33% of US adults plan to start a business or side hustle next year – a 94% year-over-year increase”. LinkedIn reports that small business creation jumped 69% as “entrepreneurs bet big on growth”.

    Good for them. But where are all the busts? Given all these new companies and, given the rate of failure for such companies, shouldn’t there be more going out of business in those subsequent years? Why aren’t bankruptcy filings spiking as a result?

    One big reason is that bankruptcy filings are pretty rare for small businesses and startups. I’ve worked directly with hundreds of businesses over the past two decades and have hardly ever encountered one that files for bankruptcy. That’s because when a business goes belly up, many business owners walk away rather than paying the costs of bankruptcy. And because small businesses spend smaller dollars, their suppliers generally write off their losses, lick their wounds and move on. This doesn’t happen in every case, obviously. But for the most part, people know the risks they’re incurring and don’t want to throw money at lawyers to make up for their bad decisions.

    The reality is that most small businesses did pretty well in 2025 and a great majority are optimistic about the next year. The National Federation of Independent Businesses reports optimism higher than its 52-year average. Comerica Bank says that 79% of small businesses are expecting revenue growth next year. The US Chamber of Commerce reports a high level of confidence among its members heading into 2026.

    Sure, mom-and-pop bankruptcies under a special section of the bankruptcy code are now at a “historic high”. However, the numbers need to be put into a better context. There are plenty of other legitimate reasons to criticize Trump. An increase in mom-and-pop bankruptcies isn’t one of them.

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  • Walmart partners with Google Gemini on shopping tool

    Walmart partners with Google Gemini on shopping tool

    A Walmart sign hangs on the exterior of the store on Nov. 20, 2025 in Hollywood, Florida.

    Joe Raedle | Getty Images

    Walmart and Google said Sunday that shoppers will soon be able to use Google’s artificial intelligence assistant Gemini to more easily discover and buy products from the retail giant and its warehouse club, Sam’s Club.

    Incoming Walmart CEO John Furner and Google CEO Sundar Pichai announced that the companies have teamed up on stage at the National Retail Federation’s Big Show, an annual industry conference held at New York City’s Javits Center.

    The CEOs did not say when the new feature will launch or share financial terms. The company said the experience will start first in the U.S. and then expand internationally.

    With the Google deal, Walmart is boosting its effort to keep up with customers who are using AI chatbots to save time or look for inspiration. Walmart announced a deal with a rival to Gemini, OpenAI’s ChatGPT, in October to allow shoppers to make purchases with “Instant Checkout,” a feature that allows them to buy an item without leaving the AI chatbot. OpenAI recently launched that feature with Walmart and it has Instant Checkout deals with other retailers, including Etsy and several Shopify merchants like Skims, Vuori and Spanx.

    Walmart also has its own AI chatbot, a yellow smiley-faced assistant on its app called Sparky.

    “The transition from traditional web or app search to agent-led commerce represents the next great evolution in retail,” Furner said in a news release. “We aren’t just watching the shift, we are driving it.”

    In his remarks on stage, Furner, who will step into Walmart’s top role on Feb. 1, said Walmart is “rewriting the retail playbook” and, with AI, it’s “trying to close the gap between I want it and I have it.”

    Pichai said that Google is excited to work with Walmart and described the adoption of AI as a “transformative” moment.

    For Walmart, the evolution of customers’ shopping habits — such as searches that start in an AI chatbot rather than its own app or website — is reshaping the retailer’s digital strategy. In a statement, David Guggina, Walmart U.S.’s chief ecommerce officer, said agentic AI “helps us meet customers earlier in their shopping journey and in more places.”

    “Over time, these agents will make it easier for customers to find what they need, want and love,” he said.

    Walmart leaders have also been vocal about how AI will change the workforce and employees’ roles, comments that carry additional weight as the company is the largest private employer in the U.S.

    Walmart CEO Doug McMillon, who is retiring and will be succeeded by Furner, has spoken about the sweeping impact of the technology, saying that “it’s very clear that AI is going to change literally every job.”

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  • Google introduces personalised shopping ads to AI tools – Financial Times

    Google introduces personalised shopping ads to AI tools – Financial Times

    1. Google introduces personalised shopping ads to AI tools  Financial Times
    2. Google announces a new protocol to facilitate commerce using AI agents  TechCrunch
    3. New tech and tools for retailers to succeed in an agentic shopping era  blog.google
    4. Google and Walmart Join Forces to Shape the Future of Retail  ADWEEK
    5. Google Cloud Brings Shopping and Customer Service Together with Gemini Enterprise for Customer Experience  PR Newswire

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  • ‘Dangerous and alarming’: Google removes some of its AI summaries after users’ health put at risk | Google

    ‘Dangerous and alarming’: Google removes some of its AI summaries after users’ health put at risk | Google

    Google has removed some of its artificial intelligence health summaries after a Guardian investigation found people were being put at risk of harm by false and misleading information.

    The company has said its AI Overviews, which use generative AI to provide snapshots of essential information about a topic or question, are “helpful” and “reliable”.

    But some of the summaries, which appear at the top of search results, served up inaccurate health information, putting users at risk of harm.

    In one case that experts described as “dangerous” and “alarming”, Google provided bogus information about crucial liver function tests that could leave people with serious liver disease wrongly thinking they were healthy.

    Typing “what is the normal range for liver blood tests” served up masses of numbers, little context and no accounting for nationality, sex, ethnicity or age of patients, the Guardian found.

    What Google’s AI Overviews said was normal may vary drastically from what was actually considered normal, experts said. The summaries could lead to seriously ill patients wrongly thinking they had a normal test result, and not bother to attend follow-up healthcare meetings.

    After the investigation, the company has removed AI Overviews for the search terms “what is the normal range for liver blood tests” and “what is the normal range for liver function tests”.

    A Google spokesperson said: “We do not comment on individual removals within Search. In cases where AI Overviews miss some context, we work to make broad improvements, and we also take action under our policies where appropriate.”

    Vanessa Hebditch, the director of communications and policy at the British Liver Trust, a liver health charity, said: “This is excellent news, and we’re pleased to see the removal of the Google AI Overviews in these instances.

    “However, if the question is asked in a different way, a potentially misleading AI Overview may still be given and we remain concerned other AI‑produced health information can be inaccurate and confusing.”

    The Guardian found that typing slight variations of the original queries into Google, such as “lft reference range” or “lft test reference range”, prompted AI Overviews. That was a big worry, Hebditch said.

    “A liver function test or LFT is a collection of different blood tests. Understanding the results and what to do next is complex and involves a lot more than comparing a set of numbers.

    “But the AI Overviews present a list of tests in bold, making it very easy for readers to miss that these numbers might not even be the right ones for their test.

    “In addition, the AI Overviews fail to warn that someone can get normal results for these tests when they have serious liver disease and need further medical care. This false reassurance could be very harmful.”

    Google, which has a 91% share of the global search engine market, said it was reviewing the new examples provided to it by the Guardian.

    Hebditch said: “Our bigger concern with all this is that it is nit-picking a single search result and Google can just shut off the AI Overviews for that but it’s not tackling the bigger issue of AI Overviews for health.”

    Sue Farrington, the chair of the Patient Information Forum, which promotes evidence-based health information to patients, the public and healthcare professionals, welcomed the removal of the summaries but said she still had concerns.

    “This is a good result but it is only the very first step in what is needed to maintain trust in Google’s health-related search results. There are still too many examples out there of Google AI Overviews giving people inaccurate health information.”

    Millions of adults worldwide already struggle to access trusted health information, Farrington said. “That’s why it is so important that Google signposts people to robust, researched health information and offers of care from trusted health organisations.”

    AI Overviews still pop up for other examples the Guardian originally highlighted to Google. They include summaries of information about cancer and mental health that experts described as “completely wrong” and “really dangerous”.

    Asked why these AI Overviews had not also been removed, Google said they linked to well-known and reputable sources, and informed people when it was important to seek out expert advice.

    A spokesperson said: “Our internal team of clinicians reviewed what’s been shared with us and found that in many instances, the information was not inaccurate and was also supported by high quality websites.”

    Victor Tangermann, a senior editor at the technology website Futurism, said the results of the Guardian’s investigation showed Google had work to do “to ensure that its AI tool isn’t dispensing dangerous health misinformation”.

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    Google said AI Overviews only show up on queries where it has high confidence in the quality of the responses. The company constantly measures and reviews the quality of its summaries across many different categories of information, it added.

    In an article for Search Engine Journal, senior writer Matt Southern said: “AI Overviews appear above ranked results. When the topic is health, errors carry more weight.”

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  • Be the One reaches into student veteran community

    Columbia University suicide-prevention protocol shared with veterans at SVA National Conference.

    The mix of attendees in Dr. Keita Franklin’s suicide-prevention breakout sessions during the 18th Student Veterans of America (SVA) National Conference Friday and Saturday in Colorado Springs, Colo., ranged from those planning careers in mental health to some who had personally considered ending their lives. Almost all of them, by a show of hands, knew someone who died by suicide.

    Session participants included grad students, undergrads, faculty members, SVA chapter leaders, formerly homeless veterans, one who had been incarcerated, some who were recently discharged from service and others who had been out for years.

    From all the different perspectives, it was clear from both sessions that the learning experience would be a two-way street.

    In Saturday’s session of “Strengthening Suicide Prevention for Student Veterans Through the Columbia Protocol,” presented as part of the American Legion’s Be the One training mission with USAA Face the Fight grant support, Dr. Franklin began by asking for participants’ thoughts about why student veterans are at higher risk of suicidal ideation and attempts than others. A flurry of responses filled the air.

    “No mentorship.”

    “Ostracization.”

    “Unstable housing.”

    “Finances.”

    “Stigma.”

    “No hope for the future.”

    “Lost sense of meaning and purpose.”

    “No faculty experience with the veteran mentality.”

    “Tinnitus – it will drive you crazy.”

    Dr. Franklin discussed each factor – and more – into an area lacking in hard scientific data. She shared with the group that veterans age 18-34 (college age, for most) have the highest suicide rate among veteran age groups, and 46% of student veterans, according to some samples, reported symptoms of post-traumatic stress disorder (although less than half of veteran suicides are connected to a mental health diagnosis); 37% screened positive for depression; and about one-third reported experiencing severe anxiety.

    Transition from military structure to campus life can be tough and abrupt, as are the financial challenges of college, but belongingness was a common theme expressed by students and session leader alike.

    Dr. Franklin asked, “How do you go from being the first sergeant or the chief nurse to now get in line and read chapter 2. The transition – where do I fit in, and where do I belong? – does come into play. Meaning and purpose. We believe that veterans struggle with that when they leave the military. Is there a bigger meaning and purpose than serving and the work that many of you have already done?”

    A long career in this field, primarily with military and veteran communities, has put Dr. Franklin in the company of many who connect mental well-being with their sense of purpose. When she suggests finding something meaningful to do in the local community after serving in the Armed Forces, “Sometimes they will tell me it’s hard. They’ll say, ‘Yeah, I’m coaching soccer, but it’s not the same meaning and purpose that I had.”

    A college professor from Denver made the point Saturday that he was one of only two veterans out of 100 on the faculty at his institution. “A lot of veterans don’t feel any connection,” he said. “The number of faculty who are actually veterans is rare. The perception of a lot of professors is that we (veterans) are a threat. One of my points, when we talk suicide rates, is that the only threat is to themselves, not to the teachers. That seems like a major revelation to professors who have had zero contact to the military.”

    One student veteran told the group that she finds “that professors have a really hard time with the veteran mentality. I get remarks like, ‘You’re too direct.’ ‘You take over a conversation.’ Our leadership skills, our ability to go in and assess a situation and just problem-solve – anything that we did before in an area of operation or our normal day-to-day, how we have been trained, raised, built – we’re not supposed to do that anymore. So, that transition to the classroom … is very odd. You are now being reprimanded for who you are and what you’ve been trained to do … things you were so proud of. Your qualities, your skills. Don’t do that anymore.”

    In both sessions, Dr. Franklin went over the many factors that contribute to higher suicide rates among veterans and the effectiveness of the Columbia University Lighthouse Project protocol used in American Legion Be the One training.

    She explained that the treatment landscape has shifted substantially since she started her career in the 1990s, from emphasis on medical facility treatment to a public health model, where suicide prevention can reach people where they are, day in and day out. The approach of “scoop them up and get them into the hospital” led to an unexpected finding. “Those who were admitted to hospitals with suicide risk would leave with the same level of risk or higher. Putting people into inpatient psych care does not have them leave with reduced suicide risk. It’s not intuitive, but it’s true.”

    Medical treatment has a place when needed, she explained, but “we also need them to engage in a life worth living, and we need to prevent suicide where veterans work, live and thrive, not just at the hospital.” The public health model takes a broader approach, training all gatekeepers, such as employers and veterans groups.

    That’s why the program came to the SVA NatCon. “We’re taking suicide prevention to the streets,” she said. The mission, she explained, is “to really get the veterans service organizations more involved in preventing suicide. The American Legion has been a big champion of that. They have really taken it on. We have deputized a lot of Legionnaires to really get involved.”

    The American Legion’s Be the One suicide-prevention training program with Columbia has been completed by more than 20,000 people since its early 2025 launch.

    As data vary on the causes and prevalence, Dr. Franklin made some key points about suicidality:

    –              Suicide is the 10th leading cause of death in the nation

    –              Suicide is the 2nd leading cause of death for veterans under the age of 45

    –              73.5% of veteran suicides are by firearm, compared to 54.6% for non-veterans, suggesting space should be kept between ammunition/firing pins and weapons themselves

    “The numbers are tragic,” she explained, adding that accurate statistical knowledge has been improving since 2000 yet remains incomplete at best. But the fact remains that for every data point, she said, “Each and every one of them is a person. They are actually people, with family members.”

    She told the groups that for every one suicide, 135 others are exposed to it and become at risk. She added that alcohol and substance abuse, relationship issues, isolation and sleep deprivation are all part of a “grab bag” of factors that contribute to veteran suicidality.

    She explained that however difficult it might be, those who care about a veteran who may be at risk cannot be afraid to ask, directly, following the Columbia University Lighthouse Project Protocol, a set of six specific questions that detect risk and provide proven steps to help.

    The program is soon piloting a train-the-trainer component that Dr. Franklin said will debut through The American Legion’s Be the One mission early this year. “We’re designing so that everyday people can get it. In order to bring it to the streets, we want neighbors and teachers and people who work (with veterans) to know it. Anyone can do it.”

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  • The Real Winners in the S&P Best-Performing Asia-Pacific Bank Stocks

    The Real Winners in the S&P Best-Performing Asia-Pacific Bank Stocks

    The Pakistan Banks’ Association (PBA) extended its heartiest congratulations to the entire banking industry, and specifically to the seven Pakistani banks that have secured positions in the top 15 Asia-Pacific banks in 2025, as ranked by S&P Global Market Intelligence.

    This global accolade is not just an institutional victory; it is a win for the common man. With a combined total return of the seven top performing banks alone, the value creation is massive. It directly benefits the small investors holding over 1.5 billion shares at the Pakistan Stock Exchange (PSX), who are the real owners of this success story.

    In a statement the CEO and Secretary General of PBA, Muneer Kamal, highlighted that the sheer volume of shares rallying signifies that the benefits of this performance are reaching the grassroots level of the capital market.

    United Bank Limited (UBL) leading the industry with the highest market capitalization and continues to balance scale with exceptional returns proving that large-cap stability and agility can go hand in hand.

    Public Sector excellence & governance is very much evident in the rankings with historic performance by the public sector banks. The Bank of Punjab topping the entire Asia-Pacific ranking in terms of total percentage return, followed by the National Bank of Pakistan and The Bank of Khyber. This stellar turnout is a testament of good governance and strategic oversight on the part of the Government and the State Bank of Pakistan.

    The list also features the epic turn-around of Bank Makramah and emergence of Askari Bank, which have uplifted a massive shareholder base.

    In the Islamic banking space, Faysal Bank has set a new benchmark of returns, reinforcing the strength of the Shariah-compliant model.

    “It is a rarity that banks create such board-based shareholder value” Mr. Muneer Kamal noted. “Even more remarkable is the fact that this is achieved alongside creating real impact and fueling the real economy.”

    Citing the latest industry data, the PBA highlighted that banks are actively deploying liquidity to support economic recovery. In FY25, private sector credit grew by Rs. 1.1 trillion, a massive increase compared to Rs 470 billion in FY24, reflecting a strong uptick in both working capital and fixed investment loans.

    This growth is inclusive, with the sector achieving a 57% surge in the SME borrower base and amount to SMEs doubling in two years. Simultaneously, the agriculture sector saw a historic rebound, with the borrower base growing from 2.7 million to nearly 3 million, which was on a sliding slope since 2019, and disbursements reaching a record PKR 2.58 trillion. PBA emphasized that this success is powered by cutting-edge digital solutions like ‘Zarkhez-e’.

    While the banking sector has shown this robust performance, certain sections of the media have unfortunately misreported the factual position regarding credit flows in the first half of FY26. Contrary to claims of a decline of 79% in Private Sector Credit, the sector credit expanded by Rs 654 billion in the same period (until December). The decline of 79% is based on misreported number of Rs. 395 billion growth in credit in FY26 while comparing last year’s flows. The total private sector loan book actually grew by 6.75% in FY26 (Jul-Dec). This support to Private Sector Credit, particularly Priority Sector Lending persisted despite intense fiscal crowding out, as banks financed a massive Rs 1.95 trillion government borrowing, proving that the sector remains the primary engine of economic support.

    Moving forward, PBA vowed to remain focused to continue value-addition for the people of Pakistan. The overarching goal remains twofold: continuing to reward the small investors, holding these billions of shares, and expanding financial inclusion to ensure that the economic benefits reach every corner of the nation.


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  • Texas-based Shiner releases non-alcoholic version of its flagship beer – Houston Public Media

    Shiner Bock non-alcoholic
    Shiner Bock non-alcoholic (Courtesy | Shiner Beer)

    A new year often marks the start of Dry January for many.

    Texas-based Shiner Beer announced a new non-alcoholic version of its flagship Shiner Bock is hitting the shelves at retailers across the United States this month.

    The brew contains less than .05% Alcohol by Volume (ABV) and will come in 12-ounce cans. The packaging will retain the signature yellow look as the original Shiner Bock, but will feature a distinct blue and silver “non-alcoholic” banner.

    Shiner first rolled out a non-alcoholic beer series in 2023.

    More businesses across the U.S. have launched non-alcoholic beer, wine and spirits over the last several years as more people try to limit their drinking. Some research indicates that Generation Z is drinking less alcohol than previous generations.

    “We’re seeing a generational shift in how people enjoy beer,” said Nick Weiland, brand director of Shiner Beer in a press release. “Long-time fans and new drinkers alike can enjoy the ritual of an ice-cold Shiner, regardless of alcohol content.”

    Beverage alcohol data tracker IWSR found non-alcoholic beverages displayed strong sales growth in 2024, with no-alcohol beer volume up around 9% that same year.

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  • ‘I was stunned’: Verner couple win $1M in HSN 50/50 draw

    ‘I was stunned’: Verner couple win $1M in HSN 50/50 draw

    December’s HSN 50/50 take-home grand prize of $1,041,848 has been won by Dale and Thérèse Ackerland of Verner.

    “I was out grabbing a coffee at my brother’s house when my phone rang and I got the news,” said Dale, in a press release. “I was stunned, I think my brother realized I had won before I did!”

    “When he got home, he handed me a piece of paper with the jackpot amount on it and said ‘We got a call’,” said Thérèse. “ I never imagined it was something like this.”

    The two have been playing the HSN 50/50 since the summer of 2020 and always considered it a way to contribute to a cause they feel is important.

    “Whether you win or lose with these 50/50s, it doesn’t really matter because you know where the money is going and that it makes a difference,” said Dale. “Health care is only getting more important, especially as we age.”

    You can watch an excerpt of the HSN Foundation’s call to the couple as well as footage from their visit to HSN in this video.

    Proceeds of the HSN 50/50 support priority medical equipment purchases, cutting-edge medical research, and the future health care needs of Northeastern Ontario through Health Sciences North Foundation.

    Proceeds from the HSN 50/50 have been used to purchase equipment for the Pediatric Step-Up Unit (PSUU) at Health Sciences North.

    This specialized unit, located in the NEO Kids and Family Program Pediatric Unit at HSN, is essential for children who require more than standard acute care, but not intensive care.

    These young patients often rely on continuous monitoring, breathing support, and around-the-clock attention – care that was only available outside the region before the PSUU was made possible through donor and lottery player support.

    “The Pediatric Step-Up Unit has transformed the way we care for children in Northeastern Ontario,” says Dr. Sean Murray, pediatrician at HSN.

    “Before it opened, many of our sickest patients had to be transferred hours away to receive the level of care they needed. Now, we can provide that care here, surrounded by their families and support systems. The PSUU has also strengthened our relationship with hospitals like SickKids, allowing our team to benefit from their expertise, training, and ongoing collaboration.

    “This not only improves patient outcomes but also enhances our ability to deliver specialized pediatric care in the North. The PSUU exists because of community generosity. Philanthropy has turned an urgent need into a reality, and it’s making a life-changing difference for our patients every day.”

    January’s HSN 50/50 is a short and sweet draw that’s encouraging players to put their best foot forward to kick off 2026! This month’s three-week draw features two $15,000 early bird prizes, and a monthly grand prize of half of the ticket sales taking place on Jan. 30.

    The jackpot is updated online in real-time and continues to grow as more people buy tickets. Each month, half of the total ticket sales support priority equipment purchases, funding leading edge research, and supporting the future healthcare needs of Sudburians and residents of Northeastern Ontario – the other half goes to one lucky winner.

    Residents across Ontario over the age of 18 can purchase tickets for a chance to win. Tickets for the January draw are available to purchase right now, with sales ending at 11:59 p.m. Jan. 29. The grand prize winning ticket will be drawn on Friday, Jan. 30, 2026 at 10:00 a.m. and posted online at www.hsn5050.ca.

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  • Lawmakers are preparing to try again on major bill. What can happen next

    Lawmakers are preparing to try again on major bill. What can happen next

    The US Capitol in Washington, DC, US, on Thursday, Dec. 11, 2025.

    Daniel Heuer | Bloomberg | Getty Images

    Lawmakers this week plan to revisit efforts to pass a market structure bill that will determine the crypto industry’s future in the U.S. — reviving legislative efforts that stagnated last year.

    On Thursday, the Senate Agriculture and Banking Committees are expected to hold hearings on their respective parts of the crypto bill, where they might revise the text. This will lay the groundwork for establishing legislative guardrails for digital assets in the U.S. — a potential watershed moment for the crypto industry.

    This is what you need to know about the market structure bill and efforts to pass it.

    The bill’s objective

    The so-called Clarity Act aims to provide legislative guardrails for the multitrillion-dollar crypto market and big digital asset firms — which could accelerate the adoption of blockchain technology and crypto in the U.S.

    It seeks to clarify the Securities and Exchange Commission’s and Commodities Futures Trading Commission’s roles in regulating cryptocurrencies, in addition to creating more well-defined token classifications. It also aims to outline registration and compliance standards for a wide range of crypto brokerages, exchanges and other entities, enabling them to operate more easily in the U.S.

    Those guardrails could help the U.S. court more digital assets companies to set up shop stateside, stimulating the economy and boosting the crypto market, according to Summer Mersinger, CEO of crypto trade group Blockchain Association.

    “We’ve seen this massive movement of companies and activity back on shore because there is a friendly administration to crypto,” Mersinger said. But, without a market structure law, “that could all go away, especially if there’s a change to an unfriendly administration.”

    That said, the bill’s implications for digital asset companies, crypto holders and other investors won’t be 100% clear until the draft legislation’s language is finalized. 

    What’s happening this week

    Lawmakers will attempt to hash out three key issues this week: stablecoin-linked rewards; the treatment of decentralized finance platforms and their developers; and the matter of blocking elected officials such as President Donald Trump from profiting off of crypto ventures. Trump-affiliated entities have launched both a memecoin and nonfungible token in the past.

    The stablecoin issue is “the biggest outstanding issue” for negotiations on the Hill, said Cody Carbone, CEO of crypto trade association Digital Chamber.

    “Stablecoin rewards, interest, yields, whatever you want to call it, will be addressed in the bill,” Carbone said. “Both Republicans and Democrats have come to that conclusion.”

    In early January, the American Bankers Association’s Community Bankers Council wrote to Senate members, asking them to prevent stablecoin issuer affiliates from offering rewards to customers. The stablecoin products, they said, exploit a loophole in the stablecoin-centric Genius Act passed last year that prohibits dollar-pegged tokens that offer yields to holders — which pose an attractive alternative to high-yield savings accounts and other traditional products. 

    On the DeFi front, crypto advocates are fighting to ensure developers do not face prosecution when their technology is used for illicit activities like money laundering.

    “We’re very conscious of how illicit finance is treated in the bill… but we need to make sure that there are not obligations put on codes instead of person, or make sure that there isn’t some inadvertent way that the technology is burdened in a way that it can’t comply,” DeFi Education Fund chief legal officer Amanda Tuminelli told CNBC. 

    DeFi advocates also want to ensure the market structure bill contains language allowing individuals to self-custody their crypto. In addition, they want provisions from the Blockchain Regulatory Certainty Act that call for software developers and blockchain service providers who do not control or custody customer funds to be exempt from registering as money-transmitting businesses. 

    Finally, some lawmakers like Sen. Elizabeth Warren (D-Mass.) want to prevent public officials from profiting off of digital asset ventures while they serve.

    “ It’s a really hard issue,” Mersinger said. “They ended up kind of punting [on] it in the House because it was really difficult to put on the bill. A lot of Senate Democrats have said, ‘We’re not going to punt on this issue.’” 

    ‘Key window’

    The Senate Agriculture and Banking Committees are expected to put out new drafts of the market structure bill, with the aim of discussing and revising details of the proposed legislation Thursday at markup, according to Mersinger. 

    Later, they will join the two documents to create one big crypto bill. That draft will go to the Senate floor, where discussions could take several weeks, before potentially making its way through the rest of the lawmaking process to become law.

    Crypto proponents want to see the bill passed before the 2026 midterm elections in case some of the industry’s allies are unseated in November and to avoid losing momentum on the Hill, Mersinger told CNBC. 

    “There’s a lot of other priorities Congress has on the books for this year, and so this is kind of the key window that they see to get something to move out of committee onto the floor and have the time that’s needed to get it done,” Mersinger said. 

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  • Illegal drugs advertised on social media; more airline competition taking off: CBC Marketplace cheat sheet

    Illegal drugs advertised on social media; more airline competition taking off: CBC Marketplace cheat sheet

    Miss something this week? Don’t panic. The CBC’s Marketplace rounds up the consumer and health news you need.

    Want this in your inbox? Get the Marketplace newsletter every Friday.

    We’re back!

    Good morning. This is Bobby Hristova.

    We’re back to give you consumer news, tips and insider info to help you save cash and stay healthy.

    Next Friday, we’ll be back on air with a new episode about lab diamonds.

    They look identical to natural diamonds, but are lab diamonds changing the jewelry game or just the price tag? We reveal what’s really behind that sparkle. Plus, does the product match the promise? We’re testing fast-food marketing from popular restaurants to find out which chains come up short.

    You can watch on Jan. 16 and 8 p.m. local time and 8:30 p.m. in Newfoundland and Labrador on CBC-TV and CBC Gem.

    ‘It’s like on Amazon’: Illegal drugs advertised online, delivered by Canada Post

    WATCH | Websites are selling illegal drugs online. Here’s why it’s so hard to stop them:

    Websites are selling illegal drugs online. Here’s why it’s so hard to stop them

    Advertisements on popular social media platforms are promoting illegal drugs for sale online, then shipping them through Canada Post. The problem, experts say, is much bigger than a few ads, or stopping some parcels.

    It’s like Amazon for hard drugs: cocaine, heroin and ecstasy, paid for with credit cards and e-transfers, delivered by Canada Post.

    For weeks, CBC Ottawa and Radio-Canada exchanged messages with nearly a dozen people who have been buying these drugs online. Eventually one came forward, offering to talk about their experience.

    “The first time I was like, ‘OK, it’s not true, it’s a scam,’” John said. CBC News has agreed to withhold his real name because he fears the impact of his drug use on his family and his job.

    “You go on the website and it’s very easy.”

    We started seeing ads offering pure cocaine pop up on Facebook and Instagram, with images of white powder. Pretty soon our social media feeds were flooded with them.

    These narcotics are highly addictive and highly illegal, but the ads claim the drugs are tested and safely delivered.

    The drug ads appear on social media platforms including Instagram and Facebook, owned by parent company Meta, which makes more than 90 per cent of its profits from advertising.

    Meta refused an interview request from the CBC. Instead, a spokesperson responded with an email.

    “Content that attempts to buy, sell or trade illicit drugs is not allowed on our platforms. We have removed the flagged ads and pages, disabled the ad accounts, and restricted the account admins from running ads in the future,” the spokesperson wrote.

    Meta says it uses AI and specialized consultants to flag and stop the ads. LegitScript is one company that specializes in flagging ads that sell illegal content online.

    Canada Post also refused requests for an in-person interview, and instead sent the CBC a statement.

    “When our postal inspectors confirm that an item contains an illegal drug, they remove the item from the mail stream and turn it over to the police,” the Crown corporation wrote.

    CBC News reached out to the RCMP over several weeks. Canada’s national police force refused our repeated requests for an interview, but a spokesperson replied in an email.

    “Through co-ordinated investigations, advanced cyber tools, and strong partnerships … we are actively targeting individuals and networks profiting from the sale of illicit substances online,” the spokesperson wrote.

    Read more from the CBC’s Omar Dabaghi-Pacheco and Ryan Garland.

    Viral video on WestJet plane sparks debate over passenger legroom, calls for more regulation

    WATCH | WestJet goes viral over new, tightly configured seating plans:

    Viral video sparks WestJet legroom complaints

    An Alberta family is speaking out after a video showing them struggling to sit in a tight new WestJet seating arrangement went viral. The airline is facing criticism for putting profits before people with the tightly configured, non-reclining seats.

    A viral video showing an Alberta family’s tight squeeze on a recent WestJet flight is prompting conversations about passenger legroom on Canadian airlines and whether the federal government needs to get involved.

    On Dec. 26, 2025, Amanda Schmidt, her mother and her father were flying on WestJet from Edmonton to Toronto, en route to the Dominican Republic.

    The family bought ultra-basic economy seats, which were non-reclining, and found their seating circumstances quite cramped.

    A video posted to TikTok by Amanda shows her father, Manfred Schmidt, who is 6’3″ and approximately 220 pounds, appearing uncomfortable in his seat.

    “I could not get into the seat. I mean, I tried to get my knees in front of me … I’m a little bit taller than normal, maybe, but not a lot,” Manfred said.

    “It was going to be like a four-hour flight. I was concerned about, OK, well, what are we gonna do? I mean, you can’t recline, you can’t move. You’re jammed in there like a sardine.”

    Manfred said flight attendants later allowed him to sit in a seat with more legroom, but Amanda wants to see some accountability from the airline.

    “It’s inhumane, basically, to make people travel like this, and then also that it is a health and safety concern,” she said. “When you buy a seat for a human, you should be able to expect it to fit a human safely.”

    WestJet declined an interview request, but said in an email to CBC News that the airplane in the video is “one of our newly reconfigured aircraft.”

    The airline said it is trying to make air travel available to more Canadians by trying new products, such as aircraft that accommodate an extra row by changing seat pitch, which is the distance between the back of a seat, to the back of the seat in front of it, thereby reducing legroom for passengers.

    Some rows on certain WestJet aircraft have a 28-inch pitch (about 71 centimetres). According to John Gradek, an aviation expert at McGill University, a 30-inch pitch (about 76 centimetres) is typical in the Canadian airline industry.

    Read more from the CBC’s Julia Wong.

    Canadian airlines could be forced to ‘up their game’ as Ottawa allows more competition from Middle East

    WATCH | Eased restrictions on Middle East flights puts pressure on Canadian airlines:

    Eased restrictions on Middle East flights puts pressure on Canadian airlines

    As the federal government eases restrictions on the amount of flights from the Middle East, experts say Canadian airlines may face pressure to upgrade their planes and service level to stay competitive.

    Airlines in Canada could soon be under pressure from customers to improve their services as the federal government opens its skies to more competition from the Middle East.

    Ottawa is loosening restrictions on the number of flights coming from Saudi Arabia and the United Arab Emirates after past diplomatic spats had limited flights.

    Aviation expert John Gradek said airlines from the Middle East are considered the “envy of the world” because of the services they offer, which will force Canadian airlines to do more if they want to go head-to-head with these foreign carriers.

    “Canadian carriers are going to have to up the ante and up their game to be able to compete,” said Gradek, who is a lecturer of aviation management at McGill University in Montreal.

    “It’ll push Air Canada, it’ll push WestJet and may push our friends over at Air Transat to kind of look at the service level they’re offering on board the airplane, and the amenities and actual configuration of the airplanes.”

    Canadian MPs and senators, through parliamentary committees, have studied a series of issues hitting Canada’s airline industry in recent years, including a lack of competition, high fares, accessibility complaints and passengers’ rights.

    Some airlines, like Emirates, are famous for their first-class seats. Videos created by YouTubers and influencers have garnered millions of views showing off Emirates’ caviar meals, fancy sleeping pods and showers onboard.

    Read more from the CBC’s Ashley Burke.

    What else is going on?

    Quebec Superior Court approves class action against Ticketmaster over service fees

    Law firm says pricing scheme is abusive, with fees based on ticket prices rather than actual cost of service

    Nestlé recall of some baby formulas does not apply to Canadian products, company says

    Nestlé voluntarily recalled the formula — mostly in Europe — due to potential contamination

    Cheaper obesity medications could come to Canada this summer, as Health Canada reviews generics

    Having generics that might significantly reduce the price is welcome, obesity physician says

    Why car costs keep going up, and what it might take to bring them back down

    The average price of buying a car has increased by more than 40 per cent since 2018

    Warner Bros. rejects revised Paramount bid, tells shareholders to stay with Netflix

    Warner Bros. board says offer hinges on ‘extraordinary amount of debt financing’

    Marketplace needs your help!

    A woman on a phone.

    Have you complained to the consumer protection office in your province or territory? If so, we want to know how it went. Email us at marketplace@cbc.ca.

    A man on a phone

    Are you planning on calling customer service for your cell, cable or internet provider? Or are you looking to cancel your service? Before you do, Marketplace wants to hear from you! Email us at marketplace@cbc.ca.

    Catch up on past episodes of Marketplace on CBC Gem.

    Continue Reading