Business & Industry
Canada and the European Union launched an "Alliance for the Future" aimed at deepening trade, research and critical-technology ties. The deal opens new market, financing and infrastructure pathways for Canadian firms, while reshaping Ottawa’s economic strategy amid strained relations with the United States.
The long-expected two part transaction that transfers Laurentian Bank’s commercial operations to Fairstone and its retail and SME portfolios to National Bank closed on November 1, 2026. The deal removes a historic Montreal-based retail competitor from the market and shifts customers, branches and jobs as Canada’s banking sector adjusts to a new competitive map.
A dispute between Canada and the U.S. owner of Stelco has escalated into a formal compliance fight under the Investment Canada Act, after Cleveland-Cliffs told Ottawa it is meeting its commitments while the industry minister demands a concrete plan to return laid-off workers.
The White House changes to a 50 percent tariff list for Canadian imports take effect Oct. 30, shifting which products face steep duties and creating fresh uncertainty for exporters, processors and supply chains across Canada.
Ottawa audit package tabled in Parliament on October 29, 2026 includes reviews of the CBSA’s CARM import system, FINTRAC enforcement activity and federal procurement for call centres, raising fresh questions for importers, financial firms and Crown corporations about compliance, costs and oversight.
The Bank of Canada will release its decision on the overnight rate and publish the October Monetary Policy Report on October 28, 2026, with markets widely expecting the central bank to hold the policy rate while weighing higher energy prices and cross border trade tensions.
Umios will acquire High Liner Foods for C$27 a share, keeping the company based in Nova Scotia and positioning the deal as a platform for North American expansion. The transaction faces shareholder and regulatory approvals and could close in early 2027.
As millions of Canadians vote in municipal elections on October 26, 2026, business leaders and developers say outcomes could reshape local housing fees, infrastructure spending and project viability across provinces, with Ontario already tying provincial grants to lower development charges.
More than 1,200 unionized workers at Teck Resources’ Highland Valley Copper mine began strike action on October 24, 2026, forcing the mine to operate at reduced capacity. The stoppage threatens near-term copper output from Canada’s largest open pit copper operation, with implications for regional employment, Teck’s near-term production guidance, and supply for industries tied to the energy transition.
Industry Minister Melanie Joly has formally demanded Cleveland-Cliffs reverse temporary layoffs affecting up to 500 workers at Hamilton’s Stelco or face court action, saying the U.S. owner appears to have breached employment commitments tied to its 2024 acquisition.
Great Place To Work published its 2026 provincial Best Workplaces lists on October 23, highlighting 375 recognized employers and survey responses from more than 117,000 Canadian workers. The release underlines where Canadian employers are investing in culture as inflation, skills shortages and AI reshape hiring and retention.
On October 22, 2026 the Parliamentary Budget Officer published a revised Economic and Fiscal Outlook showing slower growth, higher borrowing needs and rising debt-service costs, a development that reshapes Ottawa’s budget calculus ahead of the government’s November fiscal plan.
The federal government announced funding to expand Xona Space Systems Canada in Montreal, aiming to strengthen Canada’s positioning, navigation and timing capabilities, create skilled jobs and bolster the domestic defence and space supply chain.
Sherritt International said on October 20, 2026 that the United States Treasury granted a narrowly tailored OFAC license allowing fuel shipments to its Moa nickel mine in Cuba, a step that could enable restart of material processing at its Alberta refinery but leaves financing and further U.S. approvals unresolved.
Eco Atlantic Oil and Gas completed a direct equity subscription worth US$7.7 million on October 19, 2026, strengthening its balance sheet as it advances exploration plans on Atlantic margins. The funding comes from existing institutional investors and will support continued appraisal and portfolio activity.