News of the day: AC upgrades, Allied Gold sale fails, pipeline investments, NYC tourism discounts, stock market FOMO and more

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Or sign-in if you have an account.Doing nothing about AC units could become less of an option if cities like Toronto have their way, but the reality is someone is going to have to pay for the upgrade and it's not clear the grid can even handle it. Photo by James Andrews/Getty ImagesIt’s Wednesday, July 29. Here are the top stories we’re following today.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountForcing property owners to pay for costly retrofits could have unintended consequences for apartment dwellers, writes Garry Marr. Since the original deal was announced on Jan. 26, the price of gold has dropped by more than 20 per cent from US$5,090 per ounce to about US$4,030 per ounce as of July 29. Photo by GEORG HOCHMUTH/APA/AFP via Getty Images filesToronto-based Allied Gold Corp. said Wednesday that it has terminated its $5.5 billion agreement to be acquired by China’s Zijin Gold Co. Intl. Ltd. No immediate reason was given, but Allied Gold Corp. said “both companies have concluded that there is no reasonable likelihood that the conditions relating to completion of the Transaction will be fulfilled.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again Cenovus Energy Inc. says it’s on track to produce the equivalent of a million barrels of oil per day in July, due in part to record production at its oilsands projects. Photo by Brent Lewin/BloombergCenovus Energy Inc. chief executive Jon McKenzie says Canada has a major investment opportunity in front of it with proposals for new and expanded pipelines to match the company’s giant production milestone. New York City said it is focused on growing Canadian visitation and regaining market share ‘as the city works to return this important international market to previous visitation levels.’ Photo by TIMOTHY A. CLARY/AFP via Getty ImagesNew York City is offering discounts to tourism and hospitality businesses as it looks to attract Canadian tourists back to the city. The city on Tuesday announced the summer travel incentive for Canadians called “NYC’s Northern Neighbour Deal,” which offers a 30 per cent discount at more than 85 participating hotels, Broadway shows, attractions, restaurants, museums and more. The Wall Street Bull in the Financial District, home to the New York Stock Exchange, in Manhattan, in New York City. Photo by Spencer Platt/Getty Images filesWith the current bull market now into its fourth year, investors could be forgiven for wondering when the party will end. They are trapped between the “rock” of FOMO (fear of missing out) and the “hard place” of FOL (fear of losses), writes Noah Solomon.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.