AGP Executive Report
Last update: 7 hours agoEnergy Deal: Strathcona Resources will buy Greenfire Resources in a deal worth up to C$2.9 billion including debt, expanding its Alberta oil-sands business. The companies expect to close in early 2027, subject to approvals. Financial Sanctions: The U.S. Treasury sanctioned eight Canadian money-services businesses over alleged transactions linked to Iran. The action raises compliance risks for firms handling international payments; the companies’ responses were not reported. Jobs and Growth: Canada lost 4,700 jobs in October and unemployment rose to 6.7%, clouding the outlook for households and businesses. Separately, the Ivey PMI edged up to 58.3 in October, signalling continued but modest business expansion. Federal Budget: Ottawa’s 2026 budget sets out C$142 billion in tax changes and a major push for investment, infrastructure and economic sovereignty, alongside plans for a new sovereign wealth fund. Trade: Canada returned to China’s import expo as companies sought new commercial opportunities, while the two countries prepare to resume high-level economic and financial talks after an eight-year gap.
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