Here are five things you need to know this morning
U.S. signals changes for CUSMA: U.S. trade officials are signalling that Canada will need to make policy changes if it wants long-term certainty under the Canada-U.S.-Mexico Agreement (CUSMA), as the trade deal comes up for mandatory review next year. U.S. Trade Representative Jamieson Greer told members of U.S. Congress Thursday that, while the trade deal has delivered benefits for American exporters, Washington is not prepared to automatically extend it for another 16 years without addressing “specific and structural issues.” “(CUSMA) has been successful to a certain degree,” he said, according to a document shared after Greer’s closed-door meeting, adding the gains do not outweigh what he described as “structural shortcomings.” The United States is calling on Canada to expand access to its dairy market and address concerns about exports of certain industry products.
More pressure for Lululemon: Shares of Lululemon traded higher in the premarket, after reports that activist investor Elliott Investment Management has built a stake of more than US$1 billion in the clothing retailer. Lulu is currently facing a strategic overhaul and is searching for a replacement for its current CEO, who will step down in January. According to Bloomberg, Elliott has been working with a former Ralph Lauren executive who is viewed as a potential CEO candidate.
Transat tops expectations: Transat posted revenue in its latest quarter that topped estimates, as well as profit that beat expectations. The Montreal-based airline says for fiscal 2026, it expects a capacity increase of up to eight per cent compared to 2025. Transat says despite certain impacts during the quarter, it still delivered earnings growth for the year. Transat recently reached a labour agreement with its pilots … and is facing a board challenge from investor Pierre Karl Peladeau.
U.S. inflation cools: U.S. inflation cooled in November, giving investors hope that inflationary pressures may be cooling enough for the U.S. Fed to keep cutting interest rates. The consumer price index rose at a 2.7 per cent annualized rate last month, a delayed report from the Bureau of Labor Statistics showed. The October report was cancelled – in September CPI rose at a three per cent rate.
Trump Media getting into nuclear fusion: Trump Media & Technology Group, the company behind Truth Social, is getting into nuclear fusion. The company says it will merge with TAE Technologies, a closely held fusion developer founded in 1998, in a transaction valued at more than US$6 billion. Shareholders of each company will own about 50 per cent of the combined business after the all-stock deal is completed, Trump Media said in a statement. The deal marks another dramatic pivot for the company linked to the family of President Donald Trump, which has previously diversified into offering financial products. Trump Media shares jumped as much as 40 per cent in pre-market trading in New York.
