2025-12-19
[Bnn Bloomberg]: U.S. tariff relief “unlikely”: PM: Prime Minister Mark Carney says if U.S. President Donald Trump wanted to sit down as soon as this weekend to “hammer out” sectoral deals to ease tariffs hitting certain industries, Canada is “ready,” while conceding the chances of short-term relief for steel, aluminum and lumber sectors is unlikely. At a news conference Thursday, Carney said that, given trade talks remain terminated, the federal government anticipates those negotiations will roll in to the broader Canada-U.S.-Mexico Agreement (CUSMA) review process kicking off in 2026. “We’re less likely, we’re unlikely, given the time horizons coming together, to have a sectoral agreement,” Carney said “Although, if the United States wants to come back on that in those areas, we’re always ready.”
Retail sales down: Retail sales in Canada fell for a second straight month in October, led by a drop in the food and drink segment. Sales declined 0.2 per cent from the previous month. However, there are already signs of a turnaround. StatCan’s advance estimate for November indicates a surge of 1.2 per cent, which would be the biggest gain in five months.
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2025-12-18
[Bnn Bloomberg]: are five things you need to know this morning
U.S. signals changes for CUSMA: U.S. trade officials are signalling that Canada will need to make policy changes if it wants long-term certainty under the Canada-U.S.-Mexico Agreement (CUSMA), as the trade deal comes up for mandatory review next year. U.S. Trade Representative Jamieson Greer told members of U.S. Congress Thursday that, while the trade deal has delivered benefits for American exporters, Washington is not prepared to automatically extend it for another 16 years without addressing “specific and structural issues.” “(CUSMA) has been successful to a certain degree,” he said, according to a document shared after Greer’s closed-door meeting, adding the gains do not outweigh what he described as “structural shortcomings.” The United States is calling on Canada to expand access to its dairy market and address concerns about exports of certain industry products.
More pressure for Lululemon: Shares of Lululemon traded higher in the premarket, after reports that activist investor Elliott Investment Management has built a stake of more than US$1 billion in the clothing retailer. Lulu is currently facing a strategic overhaul and is searching for a replacement for its current CEO, who will step down in January. According to Bloomberg, Elliott has been working with a former Ralph Lauren executive who is viewed as a potential CEO candidate.
Transat tops expectations: Transat posted revenue in its latest quarter that topped estimates, as well as profit that beat expectations. The Montreal-based airline says for fiscal 2026, it expects a capacity increase of up to eight per cent compared to 2025. Transat says despite certain impacts during the quarter, it still delivered earnings growth for the year. Transat recently reached a labour agreement with its pilots … and is facing a board challenge from investor Pierre Karl Peladeau.
U.S. inflation cools: U.S. inflation cooled in November, giving investors hope that inflationary pressures may be cooling enough for the U.S. Fed to keep cutting interest rates. The consumer price index rose at a 2.7 per cent annualized rate last month, a delayed report from the Bureau of Labor Statistics showed. The October report was cancelled – in September CPI rose at a three per cent rate.
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2025-12-17
[BNN Bloomberg, Terry Cain - Canada]: Watching Carney: We are watching
Ottawa for two expected events today. The Canadian Press is reporting the
federal government and Ontario are set to sign a deal that will reduce the
regulatory burden on large projects, including the road to the Ring of Fire
area in Northern Ontario. The report says Ottawa has committed to completing
its impact assessment on the same timeline as the province’s environmental
assessment, as two First Nations groups say they are set to begin building the
roads in 2026. Meanwhile, CTV News has confirmed PM Mark Carney will host a
virtual First Ministers Meeting today. Recently these meetings have been held
to update the Premiers on trade talks between Canada and the U.S. The last
meeting was Nov. 17.
Trump’s Venezuela blockade: Oil and gold traded higher this morning as
U.S. President Donald Trump ordered a blockade of sanctioned oil tankers going
into and leaving Venezuela. The move severely targets the country’s economy but
will have a less profound impact on global markets due to the diminished status
of its oil industry. The OPEC member’s crude output could potentially rebound
if the governing regime were to change. The Maduro government has characterized
the U.S. actions as a grab for Venezuela’s oil reserves, the biggest in the
world.
Transalta ordered to operate power plant: A Canadian company has come
into the crosshairs of the Trump administration. U.S. Energy Secretary Chris
Wright has issued an emergency order directing TransAlta to keep Unit 2 of the
Centralia Generating Station in Centralia, Washington available to operate.
Unit 2 of the coal plant was scheduled to shut down at the end of 2025. The
energy department says reliable supply of power from the Centralia coal plant
is essential for grid stability in the U.S. Northwest.
Scotia to revive metals trading desk: Bank of Nova Scotia is planning to
revive the metals trading desk it dismantled at the peak of the pandemic. The
new desk will trade, lend and hedge raw materials including precious and base
metals. The bank has hired recruiters to reach out to commodities traders,
sales specialists and strategists to staff the unit. The move follows
record-breaking rallies in gold, copper and silver that have renewed interest
in metals trade.
[Investopedia,
USA]: More Homebuyers Are Using the
Mortgage Option That Set Off the 2008 Housing Crisis
·
Approximately 10% of borrowers in
September took out an adjustable-rate mortgage to purchase a home.
·
Adjustable-rate mortgages contributed
significantly to the 2008 housing crisis, as many borrowers with poor credit
struggled to make payments when their rates increased.
·
However, mortgage experts said lending
standards have improved since then, reducing the likelihood of widespread
impacts on the housing market.
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2025-12-16
[Investopedia,
USA]: Job Growth Slumps as Unemployment
Hits Highest Level Since 2021
·
The U.S. economy lost 105,000 jobs in
October and added 64,000 in November.
·
The unemployment rate rose to 4.6% in
November, higher than the 4.5% expected.
·
The report, which was delayed by the
government shutdown, showed that the job market's recent slump was deepening.
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