Private Credit's Problems Just Got Real

Canada Rethinks Selling Its Crown Jewel Pipeline Authored by Charles Kennedy via OilPrice.com, The Canadian federal government may reconsider a plan to privatize the Trans Mountain oil pipeline. Since the expanded TMX pipeline launched in 2024, exports to Asia—especially China—have surged, with up to 70% of shipments from British Columbia heading to Asian buyers by late 2025. Officials now see TMX as a highly profitable “strategically important asset,” with potential for further expansion The Canadian federal government may reconsider a plan to privatize the Trans Mountain oil pipeline and keep it state-owned amid a...

AI Is Causing A Tidal Wave Of Job Cuts At Crypto Firms Layoffs are spreading across crypto and fintech — and executives increasingly say AI is part of the reason, according to Bloomberg. Coinbase, PayPal, Gemini, and Crypto.com have all recently cut jobs while emphasizing efficiency and automation. On Tuesday, Coinbase CEO Brian Armstrong framed the shift in stark terms, warning that “the biggest risk now is not taking action” as the company tries to become “lean, fast, and AI-native.” Bloomberg writes that the trend gained momentum after Block, Inc. — the...

CFPB Orders Remote Employees To Relocate To Washington Or Lose Jobs Via American Greatness, The Consumer Financial Protection Bureau (CFPB) has directed hundreds of employees who live outside the Washington area to relocate to the agency’s new headquarters or face losing their jobs, a move that could significantly reduce the bureau’s workforce. Acting Director Russell Vought notified employees in a memorandum Tuesday that approximately 450 remote workers must commit to relocating to Washington by July 14. Employees who agree to the move are scheduled to begin reporting to the bureau’s new headquarters September 6. According...