Business

At the World Economic Forum in Davos, Prime Minister Mark Carney said middle powers like Canada should act together as the international order shifts; his address drew a standing ovation ahead of a speech by U.S. President Donald Trump.

Princeton Mayor Spencer Coyne sent an open letter saying the town's fuel price was 141.9 cents per litre and noted it is higher than nearby communities.

At the World Economic Forum in Davos, Prime Minister Mark Carney gave a stark speech urging Canada to secure economic sovereignty and to help build coalitions of middle powers to resist economic coercion. He said the international rules-based order is diminished and warned against protectionism.

Officials say the Canada-China trade deal could encourage Chinese electric vehicle production in Canada; critics have voiced concern and the outcome depends on upcoming trade talks with the United States.

At Davos, German Chancellor Friedrich Merz said Germany's 20th-century trajectory ended in catastrophe and linked that history to today's great‑power tensions; he outlined priorities including a planned increase in defence spending and measures to boost European competitiveness.

In a national address in Quebec City, Prime Minister Mark Carney responded to U.S. President Donald Trump's World Economic Forum comment by saying, "But Canada doesn't live because of the United States. Canada thrives because we are Canadian." The remarks came as he opened a two-day cabinet planning forum focused on diversifying trade and international partnerships.

The Sioux Honey Association and Smoothie King donated about three tons (several thousand bottles) of Sue Bee clover honey to be redistributed by Second Helpings Atlanta to families experiencing food scarcity.

Canada's ETF assets topped $700 billion last year, rising nearly 38% year over year, as advisors increasingly use ETFs and active ETF offerings expand.

IKEA is presenting at the Interior Design Show Toronto from Jan. 22–25 with an immersive, kitchen-focused booth and product reveals including the TERRSJÖ door and discussion of STOCKHOLM 2025.

A Jan. 19 presidential decree created a ministerial-level post to oversee Mali's mining sector and named Hilaire Bebian Diarra, a former Barrick executive, to the role.

Chery Automobile appears to be preparing to sell electric vehicles in Canada after Ottawa agreed to cut tariffs on a limited number of Chinese-made EVs; recruiters say Chery is hiring for roles and plans a Toronto-area office, while federal officials have provided few details.

Ontario Premier Doug Ford said he would ease his threat to remove Crown Royal from the LCBO if Diageo presents a written plan to replace jobs lost by the Amherstburg bottling closure. Diageo has said it will keep a significant footprint in Canada but has not confirmed any job-replacement proposal.

Homeland Security investigators and FBI agents arrested Nekima Levy Armstrong and Chauntyll Louisa Allen in connection with a reported coordinated incident at Cities Church in St. Paul, officials said; Secretary of Homeland Security Kristi Noem said Armstrong is being charged under the federal Civil Rights Conspiracy statute (18 U.S.C. 241). Current court or scheduling details were not provided.

General Motors said it will end China production of the Buick Envision and build the next-generation model at its Kansas City-area plant starting in 2028.

Richmond, B.C.-based General Fusion will merge with Dallas-based Spring Valley Acquisition Corp. III in a deal valuing the company at $1 billion USD, and the company plans to begin trading on Nasdaq once the transaction closes.

The Canada Pension Plan Investment Board disclosed about a $416 million investment in Elon Musk's xAI, maker of the Grok chatbot; Grok has been linked to reports of non-consensual deepfake images and faces at least one lawsuit.

US officials including Jared Kushner and President Donald Trump presented a plan at the World Economic Forum in Davos proposing a rebuilt Gaza with waterfront towers and at least $25 billion in investment. A UN official has warned that many Gazans are living in inhumane conditions after widespread damage and displacement.

Foreign investors held a net US$27.6‑trillion 'long' position in U.S. assets, and official U.S. Treasury figures show foreigners bought a net US$1.27‑trillion of U.S. securities in the first 11 months of last year.

Ontario Premier Doug Ford has rallied the provincial auto sector to oppose Prime Minister Mark Carney's proposed agreement with China that would allow 49,000 Chinese electric vehicle imports at about a six per cent tariff in exchange for eased canola levies.

The Commerce Department revised U.S. GDP growth to a 4.4% annual rate for the third quarter, citing strong consumer spending and a contribution from net exports.

IperionX said it received a prototype purchase order for U.S. Army heavy ground combat systems, and the company's release included forward‑looking statements that outlined risks and uncertainties.

Rocket Lab completed its first launch of 2026 and its 80th Electron mission, deploying two Open Cosmos satellites into a 1,050 km circular orbit from Mahia, New Zealand.

Toronto saw its lowest new home sales on record in 2025, totaling about 5,314 units, and industry groups warn the slump risks large job losses and reduced future construction; next steps by governments are undetermined at this time.

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.