Here are five things you need to know this morning
Barrick goes ahead with IPO of North American gold assets: Barrick Mining is going ahead with plans to spin off its North American gold assets into a separate unit. The world’s second‑biggest gold producer plans to include interests in Nevada and the Dominican Republic in the spinoff, with assets worth as much as $62 billion dollars. Barrick will sell a minority stake in the new company, but will retain significant control. The Toronto-based company says the new listing is expected to be completed by late 2026. Barrick also named Mark Hill as president and chief executive officer. Hill has been doing the top job on an interim basis since September following the departure of Mark Bristow.
Profit beat at BCE: BCE posted profit in its latest quarter that topped analyst estimates, but saw operating revenue fall below expectations. For the full year, the telecom giant says it expects higher revenue and profit, driven by improvement in wireless pricing, a boost in product sales, and growth in its AI-powered segment. We’ll find out more when we speak with Curtis Millen, BCE’s chief financial officer, today at 1 PM eastern time. BCE is the parent company of BNN Bloomberg through its Bell Media division.
Feds to scrap EV mandate: Prime Minister Mark Carney will be in Woodbridge, Ont. this morning for an auto announcement. There are multiple reports that he will announce new electric vehicle policies. Carney is expected to scrap the electric vehicle sales mandate in favour of new vehicle emissions standards, while also reviving the popular EV rebates program, which was halted last year. The new policies will be part of a broader automotive strategy that aims to keep manufacturing jobs in the country and provide better market access to companies that build in Canada.
Thomson Reuters rebounds: Shares of Thomson Reuters traded higher in the premarket, after the Toronto-based digital information company reported quarterly results that came in slightly above expectations. Thomson Reuters shares have seen a steep selloff of late, amid worries that AI will erode much of its business. The Thomson family holding company owns about 70 per cent of the company’s stock. The share price slide means they have seen more than $51 billion of their net worth evaporate since July of last year.
Goose flying low: Shares of Canada Goose are trading sharply lower in the premarket. The parka maker’s profit slipped in its latest quarter as heavier marketing spending and one-time charges outweighed revenue gains in its key holiday period. Adjusted earnings missed analyst forecasts. Selling, general and administrative costs jumped by more than $60 million, largely due to a bad debt charge tied to a U.S. wholesale partner, and higher retail and marketing costs.
