8 Things You Need To Know For July 27
Including the Raptors' celebrity signing, the surprising economics of stripping & more!
The Toronto Raptors playing at Scotiabank Arena. Right: A stripper with a bright blue wig.
Good morning — Andrew from Narcity here! ☕
What's got me fired up this hump day? The Toronto Raptors reportedly signing Juancho Hernangomez, the Spanish forward who starred (quite credibly) opposite Adam Sandler in last month's Netflix drama Hustle.
Psst... You can now sign up for the (far superior) email version of the Canada Morning Brief right here.
In Case You Missed It
1. How Inflation Is Putting A Crunch On Your Summer Fun
According to a recent report by CIBC, Canadians are expected to spend about $1,900 on summer activities this summer — $400 more than the average expense in 2021. And if you've been to the grocery store lately, it's perhaps not much of a shock that 81% of respondents expect food to be a top expense this summer. Janice Rodrigues takes us deeper into the inflation crunch.
- On The Bright Side: Sure, everything's more expensive these days — but at least Ontarians looking to renew their passports before travelling this summer can now do so at two additional pickup locations, Sarah Crookall reports.
2. Canada's Interest Rates Are Expected To Get Even Worse
It doesn't look like borrowers will get relief from the Bank of Canada anytime soon. In fact, in a recent interview, BMO Capital Market's chief economist predicted that our central bank will hike the key interest rate three more times this year — Sept. 7, Oct. 26 and Dec. 7 — for an additional cumulative increase of 1%. Once again, here's Janice Rodrigues to explain everything.
- OK... So What? Ironically, added pressure on borrowing could make sticker prices a bit more affordable for prospective homebuyers. Janice notes another recent report, this time by RBC, that projects that Canada's house prices could cool by more than 12% from their high in early 2023.
3. A TikToker Took Us Inside The Economics Of Stripping
An Australian stripper — or "spicy dancer," as she charmingly put it — turned heads this week after baring everything... about her annual income in an exceptionally detailed spreadsheet. The TikToker revealed that despite averaging just under two days of work per week, her yearly earnings came out to the equivalent of CA $87,593 after taxes. Sameen Chaudhry breaks it all down for us, including which of the dancer's brightly coloured wigs proved to be the biggest money-maker.
- My Take: I need to start analyzing the quality of my newsletters relative to the colour of my wig.
What Else You Need To Know Today
🎉 HOLIDAYS
They may take our lives but they will never take our... duelling midsummer, Scottish-themed holidays; it's both National Scotch Day and Bagpipe Appreciation Day. And let's be honest, bagpipes are best appreciated after about seven glasses of scotch.
🎤 INTERVIEW
Ms. Marvel introduced many to the music of Pakistani-American pop star Ali Sethi — but judging by his multiple sold-out shows in Toronto this week, he'd made it long before getting the Disney+ stamp of approval. Alshaar Khan caught up with hit-maker to talk about his recent successes (and fav Toronto food joints).
🏖️ LIFE'S A BEACH
Dear reader, it doesn't really matter what I write here; once you realize this is a review of Ontario's only official nude beach by our own Katherine Caspersz, you'll be tripping over yourself to read about her experience — even though I can assure you that you will see absolutely no nudity.
💭 DREAM JOB
What exactly does a "Chief Candy Officer" do to justify a $100K salary? Brooke Houghton visited the "Candyologists" at Candy Funhouse to get to the sweet, nougaty centre of what their much-ballyhooed job posting is really all about.
🎂 BIRTHDAYS
38 is the new 37 for Orange is the New Black star Taylor Schilling. Maya Rudolph has officially been making the world laugh for half a century. The late Dungeons & Dragons co-creator Gary Gygax was born on this day in 1938. Legendary writer and producer Norman Lear, who brought sitcom classics like All in the Family, Sanford and Son and The Jeffersons to TV screens, turns 100 today.
Thanks for reading Narcity's Canada Morning Brief — the only newsletter published exclusively from the shores of Hanlan's Point.
Let me know what you liked (and disliked) about today's edition at andrew.potter@narcity.com.
Have a great day and see you back here tomorrow!