Business

At Davos, leaders faced signs of a changing global order after U.S. President Donald Trump said he would not use force over Greenland and dropped related tariff threats; Prime Minister Carney warned the world is "in the midst of a rupture, not a transition."

Global shares slipped after U.S. President Donald Trump threatened extra tariffs on eight European countries over Greenland, and TSX futures were lower ahead of Canadian December CPI data due at 8:30 a.m. ET.

Market stress remained high after a global rout in bonds, driving investors toward gold while futures pointed to modest gains for Wall Street and the TSX ahead of scheduled economic reports and a presidential speech.

The UNCCD COP16 Presidency launched the Business4Land (B4L) Champions' Council to bring business and policy leaders together on land restoration, and Saudi Arabia's Ministry of Industry and Mineral Resources, with the WEF, announced the Lighthouse Operating System to accelerate manufacturing transformation.

Landslides struck a campground at the base of Mount Maunganui and a nearby house on New Zealand's North Island, and emergency crews were conducting rescue operations with a small number of people reported missing.

Ontario Premier Doug Ford urged consumers to boycott Chinese-made electric vehicles and said he doubts those companies will establish manufacturing in Canada; he made the remarks at a news conference with automotive industry leaders.

Saskatchewan producers welcomed the lifting of China's ban on Canadian beef, saying shipments have begun and the announcement follows a recent tariff agreement between Ottawa and Beijing.

Canada and China reached a trade agreement that will cut Chinese tariffs on Canadian canola seed to about 15% from roughly 84% by March 1, and Saskatchewan producers said the move provides greater predictability for planting and sales.

Prime Minister Mark Carney and China’s Xi Jinping agreed to allow 49,000 Chinese electric vehicles into Canada at a 6.1% tariff and to reduce several Chinese tariffs on Canadian exports; critics in Ontario worry the move could affect local auto manufacturing.

The European Commission approved a €200-million commitment to support renewable hydrogen production in Atlantic Canada and to unlock matching Canadian funds for fuels destined for Germany, completing a regulatory step in the Canada‑Germany clean hydrogen cooperation.

China will remove tariffs on canola meal, lobsters, crab and peas from March until at least the end of 2026 and reduce tariffs on canola seed to 15%; B.C. producers welcome relief while some products, such as geoducks, remain uncertain.

Premier Tim Houston says Nova Scotia Power's coal plants should be reassessed after filings show a $700-million net book value; the utility's plan to securitize those assets is under review by the Nova Scotia Energy Board and the province will file a closing submission by the end of the month.

After ministerial energy talks, Canada says Chinese officials expressed interest in buying more Canadian energy products; analysts say Chinese investment in a proposed northwest B.C. bitumen pipeline is possible but faces political and financial hurdles.

A Toronto resident sold a hybrid SUV after repeated battery problems and has spent several months living without a car, using walking, cycling, car-share and public transit; the transition has brought both practical savings and occasional anxiety.

Mark Carney's Davos speech drew wide international attention, and the article notes his experience as a central banker and a likely near-term political boost.

Spot gold rose to a record $4,887.19 an ounce as safe-haven demand climbed amid geopolitical tensions over Greenland and turmoil in Japanese sovereign debt markets.

Fortune magazine named AECOM one of the World's Most Admired Companies for the twelfth consecutive year. AECOM reported $16.1 billion in revenue for fiscal year 2025.

The 2026 Super Bowl (Super Bowl LX) will be held Feb. 8, 2026 at Levi's Stadium in Santa Clara, California, and will air on NBC with streaming on Peacock and DirecTV; kickoff is scheduled for 6:30 p.m. ET.

A Reuters poll of 100 economists found most expect the Fed to keep its policy rate at 3.50–3.75% at the Jan. 27-28 meeting and to hold through March or possibly until Chair Jerome Powell's term ends in May. The poll cites strong U.S. growth and inflation remaining above the Fed's 2% target as reasons against near-term cuts.

President Trump said Venezuela would release up to 50 million barrels after US forces captured Nicolás Maduro, and the prospect of Venezuelan heavy crude reaching Gulf Coast refineries has widened the discount on Canadian crude, affecting Alberta's oil revenue outlook.

Charles Schwab reported fourth-quarter net income of US$2.46 billion and net revenue of US$6.34 billion, a 19% year-over-year rise, supported by higher net interest revenue and trading activity.

Prime Minister Mark Carney used his first Davos speech to invoke Václav Havel and to urge middle powers like Canada to reassess reliance on the existing rules-based order while pursuing new alliances, trade diversification and stronger domestic economies.

European Union leaders addressed the World Economic Forum in Davos ahead of U.S. President Donald Trump, who has threatened tariffs over a dispute involving Greenland; the EU has scheduled an emergency summit in Brussels on Thursday to discuss a collective response.

Motivair by Schneider Electric says its new MCDU-70 is the company's highest-capacity cooling distribution unit and is designed to scale to 10MW+ for GPU-heavy AI factories; the CDUs use Schneider Electric's EcoStruxure software and operate as a centralized system.

U.S. Treasury yields jumped to a four-month high after renewed transatlantic trade tensions, raising questions about higher U.S. funding costs and potential pressure on mortgage rates ahead of the mid-term elections.

Chevrolet has revived the Bolt for the 2027 model year with a new X76 drive unit, an LFP 65-kWh battery and faster charging; the base price is reported as $39,999 before freight and pre-delivery inspection.

Spot gold rose to a record, up 2.4% to $4,878.22 an ounce, while silver and platinum also hit near-record levels; the article links the gains to rising tensions after the US threatened tariffs on several European countries over opposition to a US plan involving Greenland.

The article reports that Zhipu AI and MiniMax saw large share gains after Hong Kong listings, but companies are facing rising losses and constraints from US export controls on advanced AI chips.

Outform Group has launched Outform Hospitality to consolidate interior design, procurement, technology integration and project management for hotels, restaurants and leisure operators; the initiative is supported by partnerships with firms including SZ Design and Mejor Group.

Taiwan's economic growth was driven last year by rising AI hardware and semiconductor exports, while traditional manufacturers reported falling exports and pressure from US tariffs and a stronger Taiwan dollar.