Five things you should know before you start your work day on Feb. 5

Five things you should know before you start your work day on Feb. 5


Good morning, readers! From being locked out of your Tesla to being locked out of a lost $190 million crypto stash, from counting retirement pennies to those you’ve lost shorting banks, to turning many pennies into many plastics, these are the stories of the day. Please read and enjoy!

HAPPENS TO THE BEST OF US

In the bitter cold of last week, Tesla Model 3 owners discovered thattheir electric cars don’t perform all that well in a polar vortex. Owners took to social media to complain about drained batteries and frozen door handles. But to be fair, the batteries aren’t particular to Teslas, and the door handles have an easy solution. “My biggest concern is the cold weather drained my battery 20 to 25 miles overnight, one owner said, “and an extra five to 10 miles on my drive to work.” Elon Musk tweeted that his company was preparing over-the-air software updates that would improve how its cars hold up in cold weather.

EVERY PENNY

These are theeight sources of retirement incomeyou need to know about. But be careful, Ted Rechtshaffensays, the more sources of income, the more complicated your tax planning becomes. There are the obvious — CPP, OAS, RRSPs, TSFAs — but there are also less-frequently employed options.

SHORT SHRIFT

Short sellers have renewed their bets against the top 8 Canadian banksin 2019 — and so far they’re paying a high price. Short interest now stands at US$11.39 billion,Victor Ferreirareports, rising 16% between Jan. 1 and Jan. 29. But because of the January market rise, these investors have lost more than US$1.13 billion on the banks.

PUMPING PLASTIC

Pembina is entering a $4.5-billion ventureto revive the petrochemicals industry. Multiple projects are proposed in Alberta to soak up the huge supply of low-cost natural gas from the Montney formation,Geoffrey Morganreports. The new propane-to-plastics facility with Petrochemical Industries Co. of Kuwait will process 23,000 barrels of propane per day into polypropylene, a plastic used to make car parts, grocery bags and plastic-based currency.

LOST LOOT

Canada’s largest cryptocurrency exchange,Quadriga, is due in court today as it seeks creditor protectionafter the sudden death from health complications of its founder and chief executive in December and missing cryptocurrency worth roughly $190 million. Quadriga employees have been unable to locate or access the cryptocurrencies. It owes 115,000 customers $250 million.

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