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.
High-level trade talks between Canada and U.S. resumeOpen this photo in gallery:
Canadian and American flags fly near the Ambassador Bridge at the Canada-USA border crossing in Windsor, Ont.Rob Gurdebeke/The Canadian Press
Canadian and U.S. officials resumed trade talks in Washington on Wednesday. The Canadian delegation is seeking relief from U.S. tariffs on cars, metals, forest products and other exports vital to the domestic economy. Meanwhile, Prime Minister Mark Carney says Ottawa is not prepared to impose countertariffs against the United States while the talks are under way despite pressure from several premiers, including Ontario’s Doug Ford, unions and some in the corporate sector to hit back at the U.S. over its tariffs on steel, aluminum, autos and lumber.
Ottawa threatens to sue Stellantis over move to shift Jeep production to U.S.Open this photo in gallery:
Cars pass along the assembly line at the Stellantis plant in Brampton, Ont., in July, 2023. The plant, which has been closed for almost two years for retooling, was to produce the Compass SUV when it reopened.Chris Young/The Canadian Press
Speaking of autos, earlier this week, Stellantis NV announced it is moving production of the Jeep Compass to Illinois away from its plant in Brampton, Ont., as part of a US$13-billion plan to boost production in the United States. The Brampton plant has been closed for retooling for almost two years and was slated to produce the Compass SUV when it reopened. Industry watchers say Stellantis is trying to avoid President Trump’s 25-per-cent import taxes, which are costing U.S.-based automakers billions of dollars, driving down profits and snarling supply chains built on decades of free trade between Canada and the U.S. The move leaves the jobs of more than 3,000 unionized Stellantis employees in limbo.
Ottawa is threatening to sue the automaker over the move, and politicians like Mélanie Joly, Doug Ford and Patrick Brown have loudly criticized the decision.
Decoder: These provinces are boycotting U.S. travel the hardestOpen this photo in gallery:
Based on the licence plates of residents returning to Canada, PEI is boycotting U.S. travel the hardest, followed by B.C. and Quebec.DARRYL DYCK/The Canadian Press
Canadian travellers have held strong to their boycott of travel to the United States throughout the end of summer, blowing a sizable hole in the U.S. tourism sector. Canadian residents made 35 per cent fewer trips to the U.S. in September than the year before, according to Statistics Canada. The agency said Canadians made three million fewer trips to the U.S. during June to August – a 33.1-per-cent year-over-year decline.
But some provinces were sticking to the boycott more strongly than others. Based on the licence plates of residents returning to Canada, the province boycotting the hardest is Prince Edward Island, where residents slashed vehicle trips to the U.S. by more than half, followed by British Columbia and Quebec. Jason Kirby takes a look at the numbers and offers some hypotheses in the latest instalment of the Decoder series.
Ten charts that explain Canada’s messy and complicated housing marketsOpen this photo in gallery:
These townhomes in Delta, B.C., shadowed by Mount Baker in the distance, are recent arrivals to a B.C. real-estate market that has gradually come down from speculative highs.DARRYL DYCK/The Canadian Press
While the peak of real estate madness is behind us, there are tumultuous times ahead for Canada’s housing market. The Bank of Canada may have cut interest rates eight times since mid-2024, which is coaxing some homebuyers off the sidelines, and home sales have risen for five consecutive months. But the market for preconstruction condos has collapsed, the pipeline for future housing looks barren and homes are still prohibitively expensive for many buyers.
Matt Lundy, Jason Kirby and Rachelle Younglai explain where we are with Canada’s “messy and complicated” housing market in 10 charts, offering a look at housing affordability, average monthly asking rent for one-bedroom apartments, mortgage delinquency rates and more.
Canada wants to detangle its data from U.S. tech giants. Can it be done?Open this photo in gallery:
An employee works at OVHcloud’s data centre in Beauharnois, Que., one of the French company’s two data centres in Canada.Supplied
Canadian tech companies and policy makers are fighting for data sovereignty, as many industries look to lessen dependence on the United States. What does that mean, exactly? Well, broadly, sovereignty means that Canada has control over the chips, data centres, models and data that comprise cloud computing and artificial intelligence. But many factors are at play, such as the location of the data centres, the ownership of these facilities, the origins of the hardware inside of them, and where data is transferred and processed.
Prime Minister Mark Carney, for one, wants to build a sovereign cloud for Canada, saying it will bring “independent control” over computing power. A variety of Canadian companies are stepping up – from Bell and Telus getting into the AI data-centre business to Quebec company Hypertec Group and its partner 5C Group. Joe Castaldo and Pippa Norman report on just how achievable digital sovereignty is for Canada and the increasing discussions to keep domestic data secured at home, despite technological and legal challenges.
Peter Howitt, a Canadian economist, won a share of the Nobel prize for economics this week. What does his work focus on?
a. Innovation
b. Income inequality
c. Climate change
d. Government deficits
a. Innovation. Prof. Howitt co-authored the seminal 1992 paper entitled “A Model of Growth Through Creative Destruction.” It created a mathematical model of innovation and economic growth.
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.