Category: 3. Business

Updated information on the ways climate change will continue to impact Nova Scotia was released today, December 19.

Powering the Transition: Nova Scotia 2025 Climate Change Risk Assessment shows that Nova Scotia will continue to experience warming temperatures, stronger storms, rising sea level, changes in rain and snow patterns, and other effects.

The information can help homeowners, businesses, municipalities, first responders, supply-chain operators, infrastructure developers and essential service providers, including utilities and hospitals, prepare and make informed decisions to adapt, plan and prepare.

The update will also provide more detailed information at the local level to help guide action.

“Our best defence in the face of climate change is informed action and innovation,” said Timothy Halman, Minister of Environment and Climate Change. “The risk assessment helps inform where Nova Scotians need to be proactive to safeguard homes, businesses, infrastructure and communities. This will help keep people, our way of life and our economy resilient. We also know that climate change, while concerning, also drives economic and technological innovation. That is why our government is focused on developing wind, tidal and solar energy along with other green solutions that will reduce emissions and grow our economy.”

To help Nova Scotia achieve its greenhouse gas reduction targets and become energy independent, Nova Scotia is pursuing opportunities in clean energy such as onshore and offshore wind, green hydrogen, tidal energy and small modular reactors.

The Government of Canada has identified Nova Scotia’s Wind West as a nation-building strategy and has committed to working with the Province to develop the project further and help make it a reality.

Some sectors where the response to climate change can drive innovation and create economic opportunities are:

• responsible critical minerals resource development
• decarbonization technology
• clean energy, smart grids and energy storage
• sustainable fuel development such as biofuels and green hydrogen
• making homes and buildings energy efficient through innovative design, materials, upgrades and technologies.

The updated risk assessment, which shows how climate change could impact Nova Scotia between now and 2100, is available at: https://climatechange.novascotia.ca/sites/default/files/uploads/climate-change-risk–assessment-2025.pdf

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Quotes:

“We are pleased to see the updated risk assessment completed. Farmers are on the front lines of climate change and are already experiencing its impacts first-hand. Having this information helps our industry plan, adapt and be better prepared for what lies ahead – so we can continue producing safe, reliable food for our communities. We look forward to working with government to support practical, industry-led adaptation efforts.”
— Alicia King, President, Nova Scotia Federation of Agriculture

“Having an updated climate change risk assessment gives us the tools we need to make informed decisions, protect our communities and invest wisely in infrastructure and services. By understanding today’s risks, we are better prepared to reduce future impacts and build a safer, more resilient municipality for residents now and for generations to come.”
— Cecil Clarke, Mayor, Cape Breton Regional Municipality

“Severe weather events in 2024 caused over $9 billion in insured damage in communities across Canada, shattering the previous record of $6 billion from 2016. Natural catastrophes are not an abstract future threat, they’re today’s reality. Insurance Bureau of Canada supports this initiative to help residents, businesses and communities better understand their risks so they can protect what matters most.”
— Amanda Dean, Vice-President, Ontario and Atlantic Regions, Insurance Bureau of Canada

“Just as plants need soil to grow, growers need informed information to navigate the uncertainties of climate change. The more information I have, the better I can position my company for the uncertainties of climate change.”
— Luke den Haan, CEO, den Haan Greenhouses, Lawrencetown, Annapolis County

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Quick Facts:

• climate change risk assessments are globally recognized, evidence-based resources that help guide adaptation action
• the province’s first climate change risk assessment was released in 2022; an update is required every five years
• according to the Canadian Climate Institute, for every $1 invested in climate change adaptation, up to $15 in benefits and/or savings can be realized when there is a climate event like a storm or a wildfire; for example, reduced damage to infrastructure and crops, fewer supply chain disruptions, and less lost work time and income
• climate change is caused by greenhouse gas emissions; in 2021, through the Environmental Goals and Climate Change Reduction Act, Nova Scotia legislated a greenhouse gas emission reduction target of 53 per cent from 2005 levels by 2030
• through the act, the government committed to have 80 per cent of the province’s energy provided by renewable energy by 2030, and to get off coal-fired electricity

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Additional Resources:

Environmental Goals and Climate Change Reduction Act: https://nslegislature.ca/sites/default/files/legc/statutes/environmental%20goals%20and%20climate%20change%20reduction.pdf

Our Climate, Our Future – Nova Scotia’s Climate Change Plan for Clean Growth: https://climatechange.novascotia.ca/sites/default/files/uploads/ns-climate-change-plan.pdf

Government of Nova Scotia tools and supports to help Nova Scotians adapt to climate change:

The Future of Nova Scotia’s Coastline: The plan to protect people, homes and nature from climate change along our coast: https://novascotia.ca/coastal-climate-change/

Nova Scotia’s offshore wind energy plan, Wind West: https://novascotia.ca/wind-west/

Nova Scotia’s plan to phase out coal use and transition to clean energy, Clean Power Plan: https://novascotia.ca/clean-power-plan/

Stories about Nova Scotians adapting to climate change: https://transitionsstories.ca/

Canadian Climate Institute: https://climateinstitute.ca/

Environment and Climate Change on X: https://x.com/ns_environment

XRP seems to be favored by both ChatGPT and Grok.

Pi Network’s PI, Ripple’s XRP, and Cardano’s ADA are three of the most trending cryptocurrencies, which have millions of holders worldwide.

They all had their glory moments earlier this year, but their recent performance has been quite the opposite. We decided to check whether these digital assets can deliver substantial gains in 2026 and which one is best positioned to outperform. For additional insight, we consulted four of the most popular AI-powered chatbots.

PI is the ‘Wildcard’

ChatGPT estimated that XRP has the “cleanest setup” and has the best chance for “sustained, risk-adjusted gains” throughout 2026. It claimed that institutional interest towards the asset has been growing, while the regulatory clarity has improved following Ripple’s victory in the legal battle against the US SEC.

The chatbot described Cardano’s native token as a “strong contender.” It highlighted the “methodical” development of its ecosystem and devoted community and predicted that it can quickly catch up in case the broader crypto market heads north.

Pi Network’s PI is seen as a “wildcard.” ChatGPT argued that the token poses the highest risk and uncertainty, forecasting that its potential rally next year will depend heavily on real utility, increased adoption, and clear tokenomics.

“If those pieces fall into place, PI could massively outperform – but if not, expectations may deflate quickly.”

Grok, the chatbot integrated within X, also claimed that XRP has the strongest potential among that pack. It went even further, envisioning a new all-time high for Ripple’s native token in 2026, driven by its real-world utility in cross-border payments and favorable regulatory tailwinds.

According to Grok, ADA could post steady growth through tech upgrades, whereas PI (“being new and more speculative”) might deliver volatile pumps but faces a higher risk of a further decline.

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More in Favor of XRP

Perplexity agreed with the thesis of the aforementioned AI-powered chatbots. It claimed that Ripple’s cross-border token has the strongest potential and could explode to a new record above $8.60 next year.

It was more conservative regarding Cardano’s cryptocurrency, stating that its potential rally would hinge on the launch of a spot ADA ETF in the USA. PI is seen as the underdog since its price is limited by supply pressure and the lack of support coming from leading exchanges like Binance.

Google’s Gemini estimated that all cryptocurrencies in question have great potential. It claimed that XRP could flip Ethereum (ETH) next year if institutional adoption picks up, whereas ADA might jump to uncharted territory if the ecosystem continues to evolve.

Gemini was surprisingly bullish for PI, too, calling it the asset with “the highest moonshot” upside. At the same time, it warned that it has the highest risk of crashing to virtually zero sometime in 2026.

We quantify the effects of large-scale stock purchases by a central bank and compare these to bond purchases, using an estimated dynamic stochastic general equilibrium macro-finance model with nominal and real rigidities and portfolio rebalancing effects. The latter arise from imperfect substitutability between stocks and short- and long-term government bonds in mutual funds’ portfolios. Since households’ consumption-savings decisions are tied to expected portfolio returns, the required returns on all three assets affect overall demand in the economy. The model shows that the central bank’s equity purchases would lower the risk and term premiums on stocks and long-term bonds, respectively, and thereby stimulate economic activity. Since stocks comprise a larger share in asset portfolios and are less substitutable for short-term securities than long-term bonds are, the effects of stock purchases on aggregate demand are larger than those of similar-sized bond purchases.

Incorrectly declared milk in Strong branded mini jelly cup products

Friday, 19 December 2025

Alert Summary
Allergy Alert Notification:	2025.A48
Allergen(s):	Milk
Product Identification:	Strong branded mini jelly cups; pack size: 360g.
Batch Code	All batch codes and best before dates.

Message:
Milk is not emphasised in the ingredients list of these Strong branded mini jelly cup products. This may make the batches unsafe for consumers who are allergic to or intolerant of milk and therefore, these consumers should not eat the implicated batches. The affected batches are being recalled.

The 2026 risk debate reflects a broader economic philosophy, with “you win, I lose” global equity flows connected to AI-bubble risks and the U.S. dollar. The consensus view of a the U.S. soft-landing favors a win-win environment, where strong corporate earnings create a positive-sum outcome, allowing various sectors to thrive together and helping the rest of the world, too.

Proponents of this view see opportunities beyond tech giants, arguing that collaboration and a long-term focus can benefit everyone. But fears of an AI crash and renewed U.S.–China trade conflict highlight downside risks, where a “conflict or trade” choice could disrupt global markets. Political zero-sum debates also loom, with U.S. partisanship and key elections for Brazil and beyond reshaping how investors view long-term growth. Renegotiation of the U.S.–Mexico–Canada Agreement (USMCA) may prove pivotal in settling trade and investment direction.

The bearish case for equities starts with stretched technology valuations and turns to which alternatives can manage the rotation. iFlow shows 65% of equity exposure in the U.S. markets and under 1% in China. Markets want a win-win scenario that includes Financials, Industrials and Consumer Staples, but each requires its own economic and policy setups. The outcome will rest on FOMC rates, U.S. midterm elections and global policy tweaks.

Digging into the AI risks continues to be the main exercise for equities into 2026.

AI and the temporal problem. Time remains a uniquely human concept, which is why many argue AI remains far from artificial general intelligence (AGI) – the kind that can think and adapt like a human. In theory, a system with vast knowledge should be able to interpret time through a historical lens, identify patterns and apply them to current conditions. But modern markets reward deep specialization over generalist knowledge, creating silos where micro-level narratives can unexpectedly drive macro outcomes. As a result, AI must evolve in how it compares disparate information sets. At the same time, there is a risk that marketing-fueled investment may be oversupplying data centers and chip capacity, echoing the excesses of the late-1990s dot-com bubble.

Data centers and energy. The biggest IPO in 2026 will be SpaceX, with valuation estimates ranging from $1tn to $1.5tn. The company is challenging the communications industry, from AT&T and Verizon to Charter Communications and Comcast. The biggest surprise of the IPO is its longer-term goal to put data centers into space. Solar power and space cooling could offset the cost of putting centers into orbit. There is also a security benefit, as Earth-related disasters are ongoing and costly.

LLM battles and winner-take-all thinking. OpenAI is set to launch the second-largest IPO of 2026, estimated at $1tn. The risk of another China DeepSeek moment seems high heading into this event. In the same vein, the battle between OpenAI, Google, Anthropic and others is wide open, with winner-take-all concerns rising as large-language models (LLMs) link to consumer and corporate demand. The interlinked ecosystem matters: Microsoft owns 27% of OpenAI, which is also one of Nvidia’s largest customers. Oracle and CoreWeave’s AI data center buildouts add to circularity concerns, as OpenAI has committed $1.4tn to future expansion, financed through blended investment and commercial agreements.