Two more top American business leaders have quit U.S. President Donald Trump's American Manufacturing Council. Under Armour CEO Kevin Plank and Intel Chief Brian Krzanich announced their decisions late yesterday, following in Merck CEO Ken Frazier's footsteps after he left the council in protest over Trump's handling of the violence this weekend in Charlottesville, Virginia.
Plank indicated in his statement he was loath to be dragged into a political debate: "Under Armour engages in innovation and sports, not politics."
Krzanich stuck his neck out a bit more in his blog post last night. "I resigned because I want to make progress, while many in Washington seem more concerned with attacking anyone who disagrees with them...it is clear even to me that nearly every issue is now politicized to the point where significant progress is impossible."
And that’s where we’ll pick up our coverage today. Has the hyper-politicization of seemingly every issue in D.C. derailed the potential for progress on files that helped inspire investor confidence since November 9?
NORTH KOREA HITS PAUSE ON MISSILE THREAT
North Korean Leader Kim Jong-un is apparently opting to hold off on a strike near Guam for now. The state news agency is reporting Kim was briefed on his military’s plans, but will wait to see what “the foolish Yankees” do before acting on last week’s threat for a mid-month launch toward the U.S. territory. Safe haven assets like gold are losing ground this morning on the abatement in hostilities.
OTTAWA ASKS CRTC TO RECONSIDER TV LICENSE TERMS
The federal government is asking the CRTC to reconsider the TV license renewal decisions it made earlier this year, citing the need to strike "the right balance of investment in content and in the ability to compete." The news release doesn't offer many details, but according to The Globe and Mail, there's a point of contention around spending requirements for so-called programs of national interest. We've got requests for comment out to Bell, Rogers and Corus. Also seeking additional info from Heritage Minister Melanie Joly.
METRO'S WAGE WARNING
Another company is taking aim at Ontario’s plan to jack up the province’s minimum wage to $15 per hour by 2019. Metro’s CEO is warning today the new wage rule will “put significant pressure” on the entire industry next year.
OTHER NOTABLE STORIES:
-If you want to invest like Warren Buffett, take note that his Berkshire Hathaway has ditched its GE shares, according to a regulatory filing late yesterday. We'll parse through this and other 13F filings showing the comings and goings of some of the biggest names in investing.
-Canada Goose wants you to wear another layer of its wares. The parka maker is branching out into sweaters; the knitwear line will cost as much as $650 a pop.
NOTABLE RELEASES/EVENTS
-Notable earnings: Metro, Home Depot, TJX,
-Notable data: U.S. retail sales (8:30 a.m. ET), CREA monthly home sales update (9:00 a.m. ET)
-10:00 a.m. ET: Foreign Affairs Minister Chrystia Freeland holds NAFTA consultation with labour industry representatives in Toronto.
-2:15 p.m. ET: Natural Resources Minister Jim Carr holds teleconference in St. Andrews by-the-sea, NB, after Energy and Mine Ministers' Conference
Every morning BNN's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.
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