U.S. president-elect Donald Trump has threatened to impose 25-per-cent tariffs on all Canadian goods coming into the U.S.Alex Brandon/The Associated Press
Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.
Trump promises 25-per-cent tariffs on all products from Canada, Mexico
Donald Trump placed North American trade talks into a flurry this week with his plan to impose 25-per-cent tariffs on all products from Canada and Mexico as soon as he takes office. In a post on Truth Social, the U.S. president-elect said he will keep the levies in place until both countries crack down on drugs and immigrants entering the U.S. illegally. In response, Prime Minister Justin Trudeau convened a meeting of Canada’s provincial and territorial leaders, calling for a united front to tackle the measures. The reaction from Canadian industries, such as exporting or agriculture, has also been uneasy as it raises questions about the consequences for both domestic businesses and consumers.
Canada Post mediation temporarily suspended as union, employer remain ‘too far apart’ on issues
The Canada Post strike continues after negotiations between the postal service and its workers’ union broke down earlier this week, Vanmala Subramaniam reports. Federal Labour Minister Steven MacKinnon announced that a special federal mediator appointed by him had temporarily suspended mediation because both sides remained “too far apart on critical issues.” More than 55,000 Canada Post workers have been on strike since Nov. 15, at odds with their employer over a slew of issues related to wages, benefits and how to conduct weekend parcel delivery. The strike is taking place during the holiday shopping season, a critical time for retailers.
Striking Canada Post workers, represented by the Canadian Union of Postal Workers (CUPW), picket outside the Letter Carrier Depot in Surrey, B.C., on Nov. 28.Jennifer Gauthier/Reuters
Despite Trump’s tariff promises, the TSX is beating the world
It hasn’t been all economic doom and gloom since Mr. Trump’s tariff threat. The benchmark S&P/TSX Composite Index has risen more than 14 per cent over the past six months, leaving many global markets in the dust. It has even outpaced the America’s S&P 500 index. In fact, the S&P/TSX barely faltered after Trump’s tariff plan was announced. Why? Canada’s stock market has also been given a boost of late by the plunging loonie. In this week’s Decoder series, Jason Kirby takes a closer look at the numbers.
Canadian media companies sue OpenAI over alleged copyright infringement
A group of major Canadian news media companies filed a lawsuit against ChatGPT owner OpenAI, accusing the artificial intelligence giant of infringing on copyright by unlawfully scraping news articles for data to build its models. The plaintiffs include The Globe and Mail, the Canadian Broadcasting Corporation, Postmedia Network Inc., Toronto Star Newspapers Ltd., Metroland Media Group, the Canadian Press, and Radio-Canada. The media organizations are seeking damages that could amount to $20,000 per work that OpenAI has allegedly infringed upon, Joe Castaldo reports. The case is part of a wave of lawsuits against OpenAI and other tech companies by news outlets, authors, artists and other copyright owners over data used to train generative AI systems.
Ontario investigating recruiter in Alberta who helps supply low-wage foreign workers to Canadian Tire stores
Ontario’s Ministry of Labour is investigating an Alberta-based recruiter who was involved in bringing in temporary foreign workers to staff low-wage jobs at Canadian Tire stores across Canada, Vanmala Subramaniam reports. There is an open investigation into Allison Jones, the owner of a recruiting agency and an immigration consulting agency in St. Albert, who is a popular recruiter among franchisees of the Canadian Tire and Tim Hortons chains, according to a ministry spokesperson. One of her recruiting agency’s clients, a Canadian Tire location in Toronto, is also under provincial investigation over allegations that it mistreated employees.
One of Allison Jones' recruiting agency’s clients, a Canadian Tire location in Toronto, is under provincial investigation over allegations that it mistreated employees.Sammy Kogan/The Globe and Mail
CEO of the Year: All hail Neil Rossy and the almighty Dollarama
It’s been another year of chaos for Canadian companies, but not even the mayhem could overshadow outstanding performances from this year’s five CEOs of the Year – Global Visionary, Innovator, Newcomer, Corporate Citizen and Strategist – chosen after plenty of discussion among editors and reporters here at The Globe and Mail. Our overall winner is Neil Rossy, whose meticulous attention to everything has helped turn Dollarama Inc. into a darling of Canadian retail – one that does well in any sort of economy, Nicolas Van Praet reports.
Take our business quiz for the week of Nov. 29
d. About 25,000 times. During the year, U.S. border patrols stopped people who were trying to cross into the United States illegally from Canada 23,721 times. That was more than double the number the previous year but still a blip compared to the Mexican figures.
Get the rest of the questions from the weekly business and investing news quiz here, and prepare for the week ahead with The Globe’s investing calendar.