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Here are five things you need to know this morning<\/p>\n
Assessing Carney\u2019s tariff move: Business groups are still assessing the likely impacts of Prime Minister Mark Carney\u2019s announcement on Friday that Canada will remove retaliatory tariffs on imports from the U.S<\/a>. that are compliant with the CUSMA trade agreement. The Canadian Federation of Independent Business says it welcomes the move, calling it a \u201cstep in the right direction\u201d that will take some of the pressure off Canadian small businesses as trade talks continue. Similarly, the Business Council of Canada is calling the decision \u201ca necessary step to preserve and strengthen our preferential trade relationship with our most important trading partner.\u201d However, the Canadian Steel Producers Association is calling the announcement \u201ca disappointment,\u201d noting a significant volume of steel continues to enter Canada from the United States without a tariff of any sort.<\/p>\n Activist firm targets Cineplex: One of the largest shareholders of Cineplex Inc. is pressing the Canadian theater chain to initiate measures to buy back shares, sell non-core assets and prepare for an outright sale, arguing the stock could nearly triple. In a letter reviewed by Bloomberg News, Windward Management LP urged Cineplex\u2019s board and management team to act with urgency, contending the company\u2019s shares are deeply undervalued despite an improving industry backdrop and strong operational recovery. \u201cThe movie theater business isn\u2019t dying \u2014 it\u2019s on the verge of a major resurgence, and Cineplex is perfectly positioned to ride that wave,\u201d Windward founder and Chief Investment Officer Marc Chalfin said. \u201cWith the stock deeply discounted, now is the time to go on offense.\u201d<\/p>\n U.S. cancels wind farm: Shares in Danish wind farm developer Orsted plunged by about 17 per cent to a record low this morning after the U.S. government ordered the company to halt construction of a nearly completed project. Late on Friday the U.S. Bureau of Ocean Energy Management issued a stop-work order for the Revolution Wind Project off Rhode Island<\/a>. According to Orsted, the project is 80 per cent complete and 45 out of 65 wind turbines have been installed. Orsted says it will comply with the order and is considering options to resolve the issue and press ahead with construction.<\/p>\n SpaceX delays launch: Another setback for Elon Musk. SpaceX delayed a critical test flight of its Starship rocket roughly half an hour before liftoff<\/a> on Sunday, saying it needed to fix a liquid oxygen leak and that it would aim for another launch on Monday night. Starship was set to take off on its 10th major mission from SpaceX\u2019s South Texas launch facility. The mission had heightened stakes following a series of failures this year for Musk\u2019s reusable rocket.<\/p>\n