Mark Carney says Canada’s trading relationship with the U.S. was ‘once a strength,’ but ‘now a weakness’

Prime Minister Mark Carney has reached an agreement with Alberta to develop a new heavy oil pipeline from the province's oil sands to the Pacific coast, a project that is expected to face significant opposition, particularly from First Nations groups and environmental advocates.

Prime Minister Mark Carney has reached a tentative agreement with Alberta's Premier Danielle Smith regarding the lifting of climate laws to facilitate the construction of a new pipeline in the province. This move is part of Carney's broader initiative to reduce Canada's economic reliance on the United States.

Canada’s stock market closed higher, with the S&P/TSX Composite index rising by 0.05%. This slight increase reflects a stable trading environment as investors navigate ongoing economic conditions.

Foreign direct investment in Canada has declined in the third quarter, marking the lowest level in a year and a half, as reported by Bloomberg. This downturn reflects ongoing economic challenges and uncertainty in the investment climate.

Economists have expressed concerns regarding the UK budget presented by Chancellor Rachel Reeves, which includes a £26 billion tax increase aimed at stabilizing the economy. The budget has been criticized for its reliance on back-loaded tax rises that may not materialize, raising doubts about its sustainability and effectiveness in addressing economic challenges.

The Canadian government has announced new support measures for the steel sector, which are expected to boost steel stocks in the country. This initiative comes as part of a broader effort to protect industries adversely affected by tariffs and trade challenges.

Poland has announced plans to purchase AIM-120D-3 missiles from the United States to enhance its F-35 fleet. This acquisition is part of Poland's ongoing efforts to modernize its military capabilities and strengthen its defense posture.

The U.S. is poised to meet the energy demands of a $2.5 trillion A.I. datacenter building boom through diverse energy sources, including solar, batteries, natural gas, and nuclear power. This adaptability in energy infrastructure is crucial as the A.I. sector continues to expand rapidly.