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Here are six things you need to know this morning
Canadians open to joining EU: New polling suggests a majority of Canadians think Canada ought to explore joining the European Union at a fraught time for geopolitical relations. A survey of 4,000 people conducted by Spark Advocacy’s polling arm in March found that one in four respondents thought it would be a good idea for Canada to formally join the economic and political bloc of European nations. A further 58 per cent indicated it was a proposal worth exploring further, while the remainder felt it was a bad idea. Spark’s chief strategy officer Bruce Anderson says the survey suggests Canadians are increasingly open to finding ways to buck Canada’s reliance on the United States after more than a year of tariffs under U.S. President Donald Trump’s second administration.
Overseas markets that are open mostly up: Asian markets that were open for trading mostly rose Monday, as investors continued to closely watch the war in Iran, soaring oil prices and what U.S. President Donald Trump might say next. Japan’s benchmark Nikkei 225 rose 0.6 per cent to finish at 53,413.68. South Korea’s Kospi gained 1.4 per cent to 5,450.33. Trading was closed in Australia for Easter; in Hong Kong and Shanghai for a traditional Chinese holiday, and in France, Germany and Britain in observance of Easter. Trump threatened to hit Iran’s critical infrastructure hard if the country’s government doesn’t reopen the Strait of Hormuz by his Tuesday deadline. But there was no sign Iran was easing its closure of the strait crucial to global oil supplies.
OPEC+ raising production — on paper: OPEC+ agreed on Sunday to raise its oil output quotas by 206,000 barrels per day for May, a modest rise that will largely exist on paper as its key members are unable to raise production due to the U.S.-Israeli war with Iran. The war has effectively shut the Strait of Hormuz – the world’s most important oil route – since the end of February and cut exports from OPEC+ members Saudi Arabia, the UAE, Kuwait and Iraq, the only countries in the group which were able to significantly raise production even before the conflict began. Crude prices have surged to a four-year high close to US$120 a barrel, translating into soaring prices for transport fuels which are pressuring consumers and businesses across the globe, and triggering government action to conserve supplies.
Tax relief for air travellers in Indonesia: Indonesia will slash the value-added tax on economy class tickets for two months to ease the burden of rising fuel surcharges on airfare to mitigate higher energy costs triggered by the Iran war. Fuel surcharges will jump to 38 per cent of the price of the most expensive airfare from 10 per cent, Coordinating Economic Minister Airlangga Hartarto said at a briefing on Monday. The government, though, is absorbing some of the cost by implementing a temporary tax cut to ensure overall ticket prices do not rise by more than 13 per cent, he said. Indonesian carriers last month pushed the government to raise fuel surcharges and airfare price ceilings to make up for rising jet fuel prices. Regulators and airlines have put on hold discussions over raising the ticket price cap after agreeing to the other policy changes, Transport Minister Dudy Purwagandhi said at the briefing. Policymakers want to ensure carriers remain financially stable while protecting consumers’ purchasing power, he said.
MDA gets overweight rating: JPMorgan analyst Seth Seifman initiated coverage of MDA Space with an Overweight rating and $34 price target, which implies 25 per cent upside. MDA’s satellite business has “significant potential for growth” due to new capacity give its exposure to both commercial and military demand, the analyst tells investors in a research note. The firm says the company’s legacy robotics business remains a leader while new observation satellites “should reinforce a profitable franchise amid rising demand.” MDA ended 2025 with minimal leverage and its recent equity raise leaves cash for acquisitions, adds JPMorgan.
Toys ‘R’ Us protecting trademarks: Toys ‘R’ Us Canada is battling a Calgary swingers club, tech giant Acer Inc., and a Russian business over trademarks the struggling retailer says will cause confusion with its own branding. The toy chain is opposing applications the three businesses filed in hopes of registering as trademarks a backwards R, the phrase “Club R” and the word “Wonderlab,” respectively, in their products or marketing. Toys ‘R’ Us Canada has said in its creditor protection filings that it is opposing the use of names and symbols linked to its brand to “protect its proprietary rights and goodwill.” Its lawyer did not respond to The Canadian Press’ requests for comment on the cases. It’s handling the cases even as the retailer remains in creditor protection and searches for investors for the business or buyers for assets, like the trademarks, which could be sold to help the company with its severe cash crunch. It owes at least $120 million to suppliers alone and says its landlords are also out “substantial” amounts.