Zuckerberg reaches out
Mark Zuckerberg is, in a sense, the leader of one of the world’s biggest populations.
And it’s heartwarming to see the Facebook chief, and brand new dad, reach out in the midst of the hate sparked by Donald Trump.
Mr. Zuckerberg’s Facebook post this week is well worth reading, as he uses his significant influence as a countervoice.
It’s also another sign of a prominent business leader coming to the fore on issues of social significance, as Google’s Sergey Brin did on the issue of rights in China.
Or as many other business leaders did when Indiana threatened the rights of the LGBTQ community.
“I want to add my voice in support of Muslims in our community and around the world,” Mr. Zuckerberg wrote in his post.
“After the Paris attacks and hate this week, I can only imagine the fear Muslims feel that they will be persecuted for the actions of others,” he added.
“As a Jew, my parents taught me that we must stand up against attacks on all communities.”
Mr. Zuckerberg did not mention Mr. Trump, or the San Bernardino shootings, but he did make a welcome pledge:
“If you’re a Muslim in this community, as the leader of Facebook I want you to know that you are always welcome here and that we will fight to protect your rights and create a peaceful and safe environment for you.”
Canada cools markets
Canada’s new government is raising the minimum down payment for new insured mortgages to 10 per cent from 5 per cent for the portion of house prices above $500,000.
Finance Minister Bill Morneau, who announced the change in Ottawa today, said the new rules will take effect on Feb. 15. Down payment rules for mortgages for properties below $500,000 will be unchanged.
Mr. Morneau said the rule change is intended to target high-priced properties and should have less of an impact on first-time home buyers, The Globe and Mail's Bill Curry and Tamsin McMahon report.
Dow, DuPont strike deal
DuPont and Dow Chemical have struck a massive merger deal that will see the new company split into three separate concerns.
The agreement unveiled today puts the combined market cap at about $130-billion (U.S.).
The two giants said they plan to split into three separate publicly traded companies through tax-free spinoffs, as soon as possible, one for agriculture, another for material science and the third for specialty products.
“This transaction is a game changer for our industry and reflects the culmination of a vision we have had for more than a decade to bring together these two powerful innovation and material science leaders,” said Dow chief executive officer Andrew Liveris.
Oil glut to continue
Global oil markets will remain oversupplied through 2016 as demand growth slows and OPEC producers keep their taps wide open, the International Energy Agency said today.
The Paris-based agency delivered more bad news to battered oil producers, who have seen prices slump below $40 (U.S.) per barrel and hit their lowest point since the deep global recession of 2008-09, The Globe and Mail's Shawn McCarthy reports.
“Global inventories are set to keep building at least until late 2016, but at a much slower pace than observed this year,” the IEA said.