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Here are five things you need to know this morning
U.S. tariff relief “unlikely”: PM: Prime Minister Mark Carney says if U.S. President Donald Trump wanted to sit down as soon as this weekend to “hammer out” sectoral deals to ease tariffs hitting certain industries, Canada is “ready,” while conceding the chances of short-term relief for steel, aluminum and lumber sectors is unlikely. At a news conference Thursday, Carney said that, given trade talks remain terminated, the federal government anticipates those negotiations will roll in to the broader Canada-U.S.-Mexico Agreement (CUSMA) review process kicking off in 2026. “We’re less likely, we’re unlikely, given the time horizons coming together, to have a sectoral agreement,” Carney said “Although, if the United States wants to come back on that in those areas, we’re always ready.”
Retail sales down: Retail sales in Canada fell for a second straight month in October, led by a drop in the food and drink segment. Sales declined 0.2 per cent from the previous month. However, there are already signs of a turnaround. StatCan’s advance estimate for November indicates a surge of 1.2 per cent, which would be the biggest gain in five months.
Blackberry revenue disappoints: Shares of Blackberry traded lower in the premarket. The Canadian tech legacy company posted profit and revenue in its latest quarter that came in above Bay Street expectations, but investors may be focused on the decline in revenue. Sales fell nearly 1.3 per cent compared to the previous year. On the upside, the company raised its full-year earnings outlook, boosted by growth in its QNX division, which makes automotive applications.
TikTok deal: TikTok is being bought by a group of buyers led by Oracle Corp, with the company and ByteDance signing binding agreements to create a U.S. joint venture, according to reports on an internal TikTok memo. The U.S. joint venture will operate as an independent entity controlling data protection, content moderation, and algorithm security, with a new seven-member majority-American board of directors. The deal is expected to close on Jan. 22, 2026.
WildBrain cashes in on Peanuts: And a small Canadian media company is cashing in on its investment in the Peanuts franchise. Toronto-based WildBrain is selling its 41 per cent stake in Snoopy, Charlie Brown and friends to Sony for $630 million in cash. Wildbrain says the funds will fuel growth in its wholly owned franchises, including Strawberry Shortcake and Teletubbies, as well as expand its digital network and ad footprint.