Luxembourg-based La ​Mancha Resource Capital ‍said on Friday that its fund ‍sold part ​of its stake in gold producer Endeavour Mining for about $605-⁠million. La Mancha said it sold 8.5 million Endeavour shares, or about ‌3.5 per cent of ‍the company, in a bought-deal ‌offering priced at $71.25 ⁠per share. The ​price represents a discount of about 8 per cent to Endeavour’s previous close on the Toronto ​Stock Exchange. La Mancha said it made the sale to reduce leverage and rebalance its ⁠portfolio after the ⁠fund’s exposure to Endeavour increased ‌significantly.

Les raffineurs chinois, coupés du pétrole brut vénézuélien depuis une semaine, se tournent vers un plan B plus cher : le Canada. Selon des négociants, les Chinois magasinent au Canada depuis la destitution du président Nicolás Maduro samedi dernier. Les variétés de pétrole canadien sont considérées parmi les meilleurs substituts au pétrole brut Merey du Venezuela. Sans préciser quels raffineurs chinois ont fait les premiers contacts, les négociants ont indiqué que les acheteurs réguliers de pétrole brut vénézuélien, notamment Shandong Chambroad, Shandong Dongming et Sinochem Hongrun, doivent trouver de nouveaux fournisseurs.

With safety programs stuck on lagging metrics that fail to prevent workplace injuries and death, here is what boards must do to shift to proactive, serious incident and fatality prevention. Workplace safety programs are stuck in a rut, tracking measurements that focus on the past while failing to help prevent injuries and deaths. As the annual rate of workplace fatalities remains flat, boards must help management lead organizations toward a new approach—one that goes beyond government compliance.

Statistics Canada says a boost in the number of people looking for work in December drove the unemployment rate higher at the end of the year. The agency said the economy added 8,200 jobs last month, topping economists’ expectations. The unemployment rate rose to 6.8 per cent in December, StatCan said, up from 6.5 per cent in November. The data showed job gains in Ontario and Quebec last month did not keep pace with labour force growth in both provinces, driving the jobless rate higher in those jurisdictions. Growth nationally was concentrated in full-time work, StatCan said, and the healthcare and social assistance sector led gains with 21,000 positions added in December. Also seeing increases were the construction industry and “other services” – a broad category that includes professions from hairdressers to auto mechanics.

Rio Tinto is poised to become the world’s largest miner, and by far the biggest player in Canadian critical minerals, by acquiring rival Glencore in a US$70-billion-plus takeover. On Thursday, Glencore and Rio Tinto said in separate statements that the two companies are in “preliminary discussions” on an all-share merger in which Rio Tinto would absorb its Baar, Switzerland-based rival. London-based Rio Tinto has a US$139-billion market capitalization, making it about twice the size of Glencore. The two miners published the statements after the Financial Times reported that they were in merger talks. Major mining companies have been consolidating and committing billions of dollars to develop properties containing copper and other critical minerals. 

​The proposed merger ‍of London-listed miner Anglo American and Canada’s Teck Resources is heading for antitrust ‍clearance in Europe ​after EU regulators signalled the absence of competition concerns, according to a European Commission filing. The EU competition enforcer ⁠is reviewing the deal, the second-largest ever in the mining sector, under a simplified procedure after the companies sought approval ‌on Tuesday. Such ‍a step means the EU ‍watchdog does not see ‌a merger giving rise to significant ⁠competition problems, leading it to conduct ​only a routine check. The Commission will issue its decision on the deal to form the world’s fifth-largest copper company by ​February 10. Canada has already cleared the deal.

Le distributeur et grossiste alimentaire de Saint-Bruno-de-Montarville Colabor a obtenu jeudi la protection contre ses créanciers pour mener un processus de vente en accéléré qui débouchera sur une transaction au printemps si tout se passe comme le syndic l’espère. Colabor soutient dans un document juridique obtenu par La Presse avoir reçu des indications d’intérêt de la part d’investisseurs potentiels et affirme même avoir obtenu une lettre d’intention concernant une offre d’achat de la part d’un acheteur intéressé. « Les discussions sont toujours en cours », est-il souligné. Ces pourparlers ont commencé avant que le processus d’insolvabilité soit officiellement déclenché. À partir de maintenant, c’est le syndic Raymond Chabot qui prend le processus de vente en charge. Et peu importe les discussions tenues jusqu’ici, Raymond Chabot entend solliciter le marché.

President Donald Trump said on Wednesday the 2027 U.S. military budget should be $1.5 trillion, significantly higher than the $901 billion approved by Congress for 2026, boosting defense stocks, but sparking skepticism among budget experts. Any such increase in the military budget would require congressional authorization, which could pose a challenge, although Trump's Republicans, who hold slim majorities in both the Senate and House of Representatives, have shown little appetite for objecting to Trump's spending plans. Trump said in a Truth Social post that he made the decision on 2027 military spending "after long and difficult negotiations with Senators, Congressmen, Secretaries, and other Political Representatives... especially in these very troubled and dangerous times."

The dot-com bubble burst of 2000 took stock options from a primary form of executive compensation to one that only companies with the highest of growth expectations continued to use. The global financial crisis and Dodd-Frank Wall Street Reform and Consumer Protection Act kicked off an era of compliance in which companies began following the market to design executive pay. In recent years, more companies are willing to design pay programs based on best fit rather than typical practice. As today’s corporate stewards prepare to pass the baton to the next generation, it is time to consider how executive compensation practices could further shift to fit future leaders’ generational differences and preferences.

Shorter CEO tenures are a hot topic in corporate governance right now, and will likely remain so in the years ahead, as business priorities shift towards the more immediate. You might have seen multiple news articles about this in 2025, each of them pointing to more data which backs up a definitive shift in the relationship between CEOs and the businesses they serve. Figures from agencies like Russell Reynolds and PwC reveal that the midpoint of this decade has seen us reach new levels of CEO turnover. Average tenures have slipped towards the seven-year mark among S&P 500 companies, for example. The idea that CEOs are meant to stay in the job for ten or more years and guide the business towards a long-term vision is fading. The bottom line is that we expect this trend to continue into 2026 and beyond. The challenges are getting bigger, and the patience among directors is wearing thinner.

Few phrases in finance are less pulse-quickening than “proxy adviser”. The drudge work of monitoring thousands of company filings and opining on mostly inconsequential shareholder votes sounds boring, and should be. Yet Institutional Shareholder Services and Glass Lewis are in the middle of a firestorm. Their opponents ought to proceed with caution. One foe is Donald Trump. The US president issued an executive order calling for onerous regulation of the two firms last month. The state of Texas has implemented laws that complicate their labours, although that faces a legal challenge. And in the corporate world, JPMorgan boss Jamie Dimon and Tesla chief Elon Musk are vocal proxy-bashers. 

Donald Trump a jugé mercredi que le budget de défense des États-Unis « pour l’année 2027 devrait être de 1500 milliards de dollars, et non pas de 1000 milliards de dollars », soit une augmentation de 50 %. « Après de longues et difficiles négociations avec des sénateurs, des élus, des ministres et d’autres responsables politiques, j’ai déterminé que pour le bien de notre pays, surtout en cette période très agitée et dangereuse, notre budget militaire pour l’année 2027 devrait être de 1500 milliards de dollars, et non pas de 1000 milliards de dollars », a écrit le président américain sur son réseau Truth Social. Donald Trump a affirmé que ce bond significatif était rendu possible par les recettes générées par les droits de douane qu’il a massivement imposés aux partenaires commerciaux des États-Unis depuis son retour au pouvoir il y a un an.

Canada recorded a smaller-than-expected trade deficit in October and the share of exports to the United States fell to its lowest ever non-pandemic level, official data indicated on Thursday. Statistics Canada recorded a deficit of $583 million as imports increased at a greater pace than exports. Analysts had expected a $1.36 billion deficit. Statistics Canada revised September’s surplus up to $243 million from an initial $153 million. The deficit was the eighth in nine months in 2025, a year when U.S. President Donald Trump imposed tariffs on a raft of imports from Canada and the federal government stressed the need for trade diversification. Exports to the United States in October accounted for 67.3 per cent of all exports, the lowest non-pandemic level since the current method of data calculation was established in 1997.

U.S. employment growth slowed more than expected in December amid job losses in the construction, retail and manufacturing sectors, but a decline in the unemployment rate to 4.4% suggested the labor market was not rapidly deteriorating. The Labor Department's closely watched employment report on Friday also showed solid wage growth last month, bolstering economists' expectations the Federal Reserve would leave interest rates unchanged at its January 27-28 meeting. Economists have blamed sluggish job growth on President Donald Trump's aggressive trade and immigration policies, which they say have reduced both demand for and supply of workers. Businesses are also holding back on hiring, unsure of their staffing needs as they invest heavily in artificial intelligence. The economy is experiencing a jobless expansion, with growth and worker productivity surging in the third quarter, which was partly attributed to AI.

As we continue the journey into the second half of the decade, the challenges, complexities and uncertainties facing companies proliferate, the job of serving on corporate boards grows more complex, and expectations of individual directors persistently increase. The nominating and governance committee plays the starring role in this environment, ensuring that the board is fit for purpose to best oversee and support the management team and that governance practices are optimal for the board and responsive to shareholders. With these realities in mind, we have identified two key focus areas for nominating and governance committees in 2026.

US pharmaceutical group Merck is in talks to buy Revolution Medicines, a cancer drugmaker with a market capitalisation of more than $20bn in what would be the latest big deal in the red-hot biotechnology sector. Merck has not finalised a deal for the Redwood City, California-based biotech, said people familiar with the matter. A tie-up would be at least several weeks away, they added. A price tag of $28bn to $32bn was being discussed as part of negotiations, one of the people said. That would mark the biggest healthcare deal in at least two years since Pfizer’s $43bn takeover of cancer biotech Seagen. Other large pharmaceutical groups were circling Revolution Medicines and another suitor might prevail, the people added. A transaction is not a foregone conclusion. Shares in Revolution Medicines rose 4.6 per cent during Thursday’s trading session, after the FT’s report. They rallied another 15 per cent in extended trading, giving the company a market value of $24bn.

Soho House’s plan to go private hit a last-minute stumbling block this week, after a lead investor said it couldn’t meet its financial commitment by the expected closing date. MCR Hotels said that it wouldn’t be able to fully fund its $200 million equity commitment tied to the group’s proposed transaction to go private, according to a Thursday securities filing. The news stunned MCR’s partners in the deal, say people familiar with the matter. The investment community also seemed taken aback. Soho House shares were down around 17% at one point on Thursday, but the stock trimmed its losses in the afternoon to close down about 9.6% at $8.11. In August, a group of investors led by MCR, one of the country’s biggest hotel owners, struck a deal to take Soho House private through a transaction that implied an enterprise value of $2.7 billion, including debt.

MDA Space Ltd. has signed a deal with the U.S. Missile Defense Agency for the Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) program. The company has received an indefinite delivery/indefinite quantity contract. MDA says the award positions it to bid on future tasks and services that support the U.S. initiative. The U.S. Missile Defense Agency works on ballistic missile defence systems for the United States and its allies. Golden Dome signals change to Canada’s long-time opposition to joining U.S. missile defence U.S. President Donald Trump has announced plans for a “Golden Dome” missile defence program to protect the United States. Shares in MDA were up $1.96 or about seven per cent at $29.10 in trading on the Toronto Stock Exchange.

U.S. Treasury Secretary Scott Bessent on Thursday said he was confident in the ability to reconstitute any lost tariff revenue by imposing duties under other legal authorities ‍if the Supreme ​Court rules against President Donald Trump’s emergency tariffs, but a loss would undercut Trump’s flexibility and leverage. Bessent, speaking at an Economic Club of Minnesota event at which he touted the benefits of the administration’s economic agenda and discussed some of its plans in Venezuela following the removal of the South American country’s leader, defended the tariffs under the International Emergency Economic Powers Act as bringing China, Mexico and Canada to the negotiating table to curb fentanyl trafficking.

Le géant américain de la technologie Meta a annoncé vendredi avoir passé une série d’accords avec trois entreprises spécialisées dans le nucléaire afin de s’assurer de ressources en énergie suffisantes sur fond d’explosion de l’intelligence artificielle. Les accords, passés avec les compagnies américaines Vistra, TerraPower et Oklo, vont permettre de prolonger et d’étendre l’exploitation de trois centrales nucléaires et de favoriser le développement de nouvelles technologies nucléaires, fait valoir Meta, sans donner de précisions chiffrées sur ces partenariats. Avec Oklo et TerraPower, Meta entend contribuer au financement d’une nouvelle génération de réacteurs nucléaires, avec comme objectif la mise en service d’une première unité dès 2030.

President Donald Trump has called for US defence spending to be increased to $1.5tn (£1.1tn) in 2027 for what he called "these very troubled and dangerous times". That would be more than 50% higher than this year's $901bn budget, which was approved by Congress in December. "This will allow us to build the 'Dream Military' that we have long been entitled to and, more importantly, that will keep us SAFE and SECURE, regardless of foe," Trump said on social media on Wednesday. In separate posts, the president said he would crack down on payouts to bosses and shareholders of major US defence contractors unless the firms speed up deliveries of armaments and build new manufacturing plants. Shares in major US defence equipment makers Lockheed Martin, Northrop Grumman and Raytheon rose by more than 5% in extended trading in New York trade after Trump made the announcements. Economists have previously warned that the gap between US spending and its income has reached unsustainable levels.

BlackRock will renew its focus on long-term financial performance and take a more pragmatic approach to environmental policies at investee companies in 2026, according to its updated US Stewardship guidelines for 2026, as proxy advisers and companies continue to react to political pressure. The revisions arrive after the asset manager received public criticism from New York City comptroller Brad Lander, who in 2025 urged city pension boards to consider dropping BlackRock, Fidelity and PanAgora over what he described as inadequate decarbonization plans. Against that backdrop, BlackRock’s latest guidance reads as both a defense of its approach and a signal of how it intends to navigate growing political, regulatory and investor pressure.

This is not a happy new year for Jonathan Simpson-Dent, chair of Edinburgh Worldwide Investment Trust (EWIT), which offers exposure to technology companies including Elon Musk’s SpaceX. He is the latest target of Boaz Weinstein, a US activist investor who has accused him of tolerating “years of dire underperformance” at the FTSE 250 trust. Weinstein’s Saba Capital is nothing if not persistent. It was overwhelmingly defeated by other shareholders last year in its effort to restructure the trust’s board, but it has increased its stake to 30 per cent and is trying again. There is an unspoken message: if you alienate him, he will not go away. Weinstein is the fiercest face of US activism in his rolling campaign against sleepy trusts. But he is far from alone these days: hedge funds have been agitating for change at many UK companies, from BP to Smith & Nephew, and are increasingly powerful. They don’t always get what they want, but they are difficult to ignore.

Frontier Group parent company of Frontier Airlines, said on Thursday the board appointed James G. Dempsey as its Chief Executive Officer. Last month, the company announced the departure of longtime CEO Barry Biffle and named insider Dempsey as interim chief. Frontier also said it now expects adjusted earnings per share in the fourth quarter to be at the higher end of its previous forecast of between 4 cents and 20 cents, reflecting strong revenue performance as the quarter progressed while overcoming the impact of the government shutdown. Shares of the Denver, Colorado-based company were up 2.5% before the bell. Dempsey, who has been the company's president since October 2023, oversaw Frontier's commercial operations, customer care and its operations research, design and planning functions. He joined Frontier as CFO in 2014, prior to which he held senior management roles at Ryanair Holdings and various management roles at PricewaterhouseCoopers.

Quebec’s engineering order says it has revoked the professional licence of former SNC Lavalin CEO Jacques Lamarre and fined him $75,000 after finding him guilty of corruption last year. In a ruling Wednesday, the society’s disciplinary council said the penalties stem from breaches during his tenure at the helm of the Montreal-based engineering firm, now known as AtkinsRéalis Group Inc., between 2001 and 2009. Those transgressions include payment of financial benefits to obtain contracts in Libya, with some $2 million going to its ruling family — largely for expenses racked up in Canada in 2008 by Saadi Gadhafi, son of former Libyan dictator Moammar Gadhafi. The tribunal also found Lamarre guilty in August of “collusion and corruption” in relation to SNC’s political financing activities in Montreal, where it sought to win contracts in exchange for party payoffs. Lamarre says he was disappointed with the decision but does not plan to appeal.