Good morning,
These are the top stories:
Simple name changes have deceived securities regulators and allowed offenders to escape prosecution
Criminals are using fake names to commit repeat offences because of oversight gaps in Canadian securities enforcement, a Globe and Mail investigation has found (for subscribers). In one case, the BC Securities Commission levied a fine on Mark Goldman, a man who had stolen more than $2-million from the public through online investment fraud. But it turned out Mark Goldman was just an alias: Alyn Waage was the real person behind the scheme, and he would have gotten away cleanly if not for U.S. investigators tracking him down in Costa Rica. Waage was sentenced to 10 years in prison in the U.S., but B.C. regulators have yet to collect a penny from their $133,803 fine issued 16 years ago.
The Globe determined serial offenders are 4.2 times more likely to use an alias than one-off offenders. As those criminals move across the country, provincial regulators are often unable to keep track.
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Wilfrid Laurier University exonerated teaching assistant Lindsay Shepherd
The school's president says Shepherd should never have been disciplined for showing her class a video clip of a debate on gender pronouns that featured controversial professor Jordan Peterson. Shepherd's case made headlines last month, sparking a debate about academic freedom at postsecondary institutions. Laurier then commissioned an independent investigation, which found no student in Shepherd's tutorial ever filed a complaint. "It's become clear to us that there was significant overreach for invoking one of our policies on campus," Laurier president Deborah MacLatchy said.
Opioid-related deaths in Canada could exceed 4,000 by the end of the year
That would be a 40 per cent increase compared to the 2,861 people who died from opioid-related overdoses last year. By comparison, about 2,000 people die from car accidents every year. Roughly one-third of this year's deaths are expected to be in B.C., the province that's struggled the most with Canada's opioid crisis. Fentanyl continues to be the main illicit drug fuelling the epidemic: it was linked to 74 per cent of overdose deaths in the first six months of 2017. The new data come from a federal report that described the opioid crisis as "serious and growing."
The U.S. says North Korea was behind the WannaCry cyberattack
"The attack was widespread and cost billions, and North Korea is directly responsible," said Tom Bossert, a homeland security adviser to U.S. President Donald Trump. When it was unleashed this past May, the WannaCry attack affected hospitals, banks and other companies worldwide. The North Korean-linked group believed to be behind the attack is the same one that carried out the 2014 Sony hack, which saw top studio executives depart after private exchanges were leaked.
The White House decision to name and shame North Korea comes as tensions build over the rogue state's nuclear capabilities. Justin Trudeau is meeting today with U.S. Secretary of State Rex Tillerson to map out plans for a major international meeting on North Korea set to take place in Vancouver early next year.
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IN CASE YOU MISSED IT
Several people are dead after an Amtrak train derailed in Washington State
The very first run of a faster route from Seattle to Portland, Ore., was cut short when the train derailed and careened off a bridge and onto a highway. At least three people died and roughly 100 were injured. No motorists were among the dead. It's not yet clear whether the derailment was connected to the new route, which was launched as part of a $181-million (U.S.) project meant to reduce travel time. The track had been inspected and tested for weeks, the state's transportation department said. This isn't the first fatal Amtrak derailment: In 2015, eight people died in Philadelphia after the driver got distracted by radio transmissions.
MORNING MARKETS
Global stocks steadied on Tuesday after their biggest jump in almost six months on U.S. tax cut hopes had added to what is already one of the strongest and longest global bull runs on record. Tokyo's Nikkei was down 0.1 per cent, Hong Kong's Hang Seng was up 0.7 per cent and the Shanghai composite was up 0.8 per cent. In Europe, London's FTSE 100 gained 0.2 per cent by about 6 a.m. ET, while Germany's DAX, and the Paris CAC 40 were both down marginally. New York futures were up and the Canadian dollar was trading at 77.78 cents (U.S.). Brent crude edged up towards $64 a barrel, supported by the Forties pipeline outage in the North Sea.
FYI: The Globe now provides all users access to real-time stock quotes for both Canadian and U.S. markets. Go here to find out about the major changes to our Globe Investor site.
WHAT EVERYONE'S TALKING ABOUT
Why people don't drink: It's none of your business
"It's holiday season, a time of year for celebration. So here's a friendly reminder that 'holiday' and 'celebration' need not be synonyms for 'drinking.' … One in four Canadian adults is a teetotaler – seven million in total – and that number is growing. The holidays can be hellish for them, given the relentless social pressure to imbibe and the constant interrogations. There are many reasons people don't drink. None of them are any of your business." André Picard
Boomers and their progressive policies squeezed millennials out the housing market
"I used to think the Toronto housing market was like bitcoin. One day the bubble is bound to burst, and everybody who bought at the top of the market will look like idiots. But the last housing bust here was a generation ago. Now I'm convinced that Toronto and Vancouver are like San Francisco – permanently unaffordable for everyone but the upper-upper middle class, and the folks who live in social housing. Over the long run it's only going to get worse. The only way to change the fundamentals is to introduce a plague virus that will wipe out all the boomers. You can only hope. Who did this? We did. I and my generation of oh-so-progressive NIMBYs, and the progressive politicians we elected, and the progressive bureaucrats we hired." – Margaret Wente
Ten things about television that must be stopped
"[For one:] CBC News management blockhead behaviour: The CBC's firing of Victoria B.C. legislative reporter Richard Zussman passeth all understanding. He was writing a book about politics in B.C. There was an investigation by CBC. "That investigation revealed Mr. Zussman had breached a number of our policies," says the CBC darkly." What exactly? For years, CBC allowed its on-air journalists to make paid appearances, and only changed its rules after embarrassing disclosures about possible conflicts of interest. Now it gives the impression that book writing is a dangerous activity. No wonder CBC News seems so terribly disconnected from Canada and common sense." – John Doyle (you can read the other nine here)
HEALTH PRIMER
Three things to know about age-related hearing loss
As you reach your 40s and 50s, your hearing may start to worsen. Damage can come from listening to loud music, but also thanks to changes in blood flow to your inner ear. It's possible to pass a hearing test but still have trouble hearing, since the results can't always detect all forms of damage. And there are other options besides hearing aids to assist you on a daily basis.
MOMENT IN TIME
Inauguration of the transatlantic cable
Dec. 19, 1961: The historic phone call started as any other: "Hello?" prime minister John Diefenbaker said. But, as he uttered this standard greeting, his voice was carried across the Canadian Transatlantic Telephone (Cantat) cable, officially opening the telephone link between Canada and Britain. "Are you there, Mr. Prime Minister?" the Queen asked from Buckingham Palace. "I am delighted to be able to speak to you on this new cable from my home in London." Their prim and scripted conversation, broadcast by CBC Radio, was witnessed by a cluster of dignitaries gathered at Diefenbaker's side at the Château Laurier hotel in Ottawa. The final splice of the underwater cable, running from Oban, Scotland, to the outskirts of Hampden, Nfld., was completed Nov. 22. It was the first section of a Commonwealth cable system, linking Canada with Australia and New Zealand. "Your Majesty," Diefenbaker added. "This day indeed marks an achievement." – Wency Leung
Morning Update is written by Arik Ligeti.
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