Catch Up on Important Business Insights

Lost track of the week’s major business headlines? Dive into this comprehensive roundup of Canada’s most essential stories, complete with expert analysis, stock recommendations, and investment strategies.

Awakening Canada’s Economic Giant

A silver lining in the U.S. tariff saga is that Canada is waking up to the need for greater self-reliance in trade. Leaders across the country now recognize the importance of diversifying away from dependence on the U.S. market. As Adam Radwanski points out, Canada must take advantage of this newfound patriotic momentum. Collaborating with provincial, territorial, and private sector partners will be vital for capitalizing on this critical opportunity. Discover the ten key areas where Canadian industries can enhance their global competitiveness.

Canadian Unions Take a Stand Against American Tariffs

Auto workers’ unions in Ontario are vocally opposing their American counterparts’ support for President Trump’s tariffs on the auto industry, which have already triggered layoffs. According to Vanmala Subramaniam, the UAW's advocacy for these tariffs, aimed at revitalizing U.S. manufacturing jobs, is deemed shortsighted by Canadian union leaders. James Stewart, president of Unifor Local 444, argues that this perspective fails to recognize the profound shifts in auto manufacturing over the past three decades.

Canadians Impacting U.S. Travel Industry

New statistics reveal a dramatic 32% drop in Canadian residents traveling back from the U.S. by vehicle, totaling 1.5 million in March alone. This decline is a direct result of rising tariffs and negative rhetoric from U.S. leadership. Jason Kirby highlights the potential fallout: a mere 10% reduction in the $30 billion Canadians spend annually on U.S. travel could lead to 14,000 job losses in the American travel sector, as warned by the U.S. Travel Association.

Hudson’s Bay Attracts Multiple Bidders

In a significant development, four interested parties have stepped forward to potentially acquire parts of Hudson’s Bay Co., Canada's oldest retailer, which faces $1.1 billion in debt. Following its court protection under the Companies’ Creditors Arrangement Act, the company is poised for a strategic shift. Susan Krashinsky Robertson reports that with binding sale proposals due by April 30, there is uncertainty about whether the bids will be accepted. The retailer is also contemplating the fate of its impressive collection of 17th and 18th-century artifacts.

Telecom Companies Rethink Infrastructure Ownership

Canada’s top telecom firms are reversing their long-held stance on owning infrastructure, joining global peers in cashing in on valuable assets like cellphone towers. Irene Galea explains this shift stems from strained balance sheets and evolving market conditions. One major carrier has already completed a multibillion-dollar deal, paving the way for others to follow suit in this strategic revaluation.