Here are five things you need to know this morning
Inflation holds steady: Inflation in Canada held steady last month, as slowing price growth for services was offset by rising costs of goods. Inflation rose to a 2.2 per cent yearly pace in November, matching the rate in October. Lower prices for travel tours and accommodation, as well as slower growth in rent prices, put downward pressure on headline inflation. Higher costs of groceries, as well as a smaller decline in gasoline prices, were the main upside contributors.
Real estate activity still sluggish: Home sales across the country saw a decline last month along with home prices. Data from the Canadian Real Estate Association indicates national sales fell 10.7 per cent in November compared to the year before. Home prices, meanwhile, fell 0.4 per cent month-over-month. The association says housing activity has turned into a holding pattern heading into the new year, adding that continued trade tensions with the U.S. have weighed on buyers’ confidence. New listings also saw a decline in November.
Cannabis deal: Shares of Canopy Growth traded higher in the premarket. The Canadian cannabis company is buying Quebec-based MTL Cannabis for $125 million. Canopy says the deal is aimed at strengthening its medical cannabis business and boosting capacity to serve growing international demand.
Transat to hold special meeting: Montreal-based airline and vacation provider Transat AT will hold a special shareholder meeting on March 10, 2026, about proposed changes to the board after Quebec billionaire Pierre Karl Peladeau pressured for partial control earlier this month. In a statement, Transat said: “The board feels this is particularly important to protect fundamental principles of shareholder democracy in the present circumstances where shareholders will be asked to make a clear decision about the future governance of Transat.” Peladeau’s family office, Financière Outremont has requested an investor meeting and proposed cutting the board to six directors, including three of its own nominees.
Roomba malfunction: Roomba maker iRobot has filed for bankruptcy and proposed handing over control to its main Chinese supplier. Its common stock will be wiped out under the proposed plan, which will allow it to remain as a going concern. iRobot has sold more than 40 million robot vacuums but has been grappling with earnings decline following COVID-19. The slowdown is due to supply chain issues and cheaper competitors.
