The Big Three: Maple Leaf CEO blasts Trump; David Calhoun's first day at Boeing CEO; China delegation comes to D.C.
Iran’s admission on Saturday that Ukraine International Airlines Flight 752 was downed by a missile fired due to “human error” unleashed a wave of protests in Tehran this weekend and raised Canadian Prime Minister Justin Trudeau’s ire. Meanwhile, Maple Leaf Foods CEO Michael McCain took to his company’s corporate Twitter account to blast U.S. President Donald Trump (without naming him) and mourn the Canadians, including the family of one of his colleagues, who he described as “collateral damage of this irresponsible, dangerous, ill-conceived behavior.” Social unrest in the streets of Iran is becoming an increasingly important geopolitical aspect of this story, and we’ll aim to address that with our Bloomberg partners today.
CALHOUN TAKES REINS AT BOEING
Today is David Calhoun’s first day on the job as chief executive officer of Boeing. He’s inheriting one of the most daunting clean-up tasks in recent corporate history as the fate of the company’s 737 Max program rests in the hands of global aviation regulators. Aside from working to win back their trust, Calhoun also must rebuild relations with Boeing customers and the flying public.
UBER UNIONIZATION DRIVE
Approximately 300 Uber Black drivers in Toronto are applying to organize via The United Food and Commercial Workers Union, citing wage demands and a desire to be recognized as employees. We’ll explore Uber Technologies’ approach for managing attempted unionizations and the broader considerations for so-called “gig economy” workers.
PAY DAY AWAITS MEGHAN AND HARRY
Prince Harry and Meghan Markle’s decision to step away from the scrutiny of the Royal spotlight could potentially set them up for massive pay days. Jon Erlichman has pieced together a report on what the future holds for the Duke and Duchess of Sussex (including important tax-planning considerations if they put down roots in Canada). Watch for that today on BNN Bloomberg and BNNBloomberg.ca
OTHER NOTABLE STORIES
-Cott Corporation today announced it’s buying Primo Water Corporation for US$14.00 in cash and stock. Total deal value is US$775 million and it underscores the company’s desire to become a pure play on water after recently disclosing the review of alternatives for its coffee and tea business.
-Lululemon Athletica shares are inching higher in pre-market trading after the company bumped up its fourth-quarter sales and profit forecasts.
-Brookfield Renewable Partners today disclosed an unsolicited all-stock bid for the outstanding shares of Nasdaq-listed TerraForm Power that it doesn’t already own and also said it’s raising its quarterly distribution.
-Notable earnings: Shaw Communications
-10:30 a.m. ET: Bank of Canada releases Business Outlook Survey and Survey of Consumer Expectations
-10:30 a.m. ET: Finance Minister Bill Morneau launches Budget 2020 consultations at Ryerson University in Toronto (plus avail)
-12:00 p.m. ET: Prime Minister Justin Trudeau meets with B.C. Premier John Horgan in Victoria
-12:00 p.m. ET: Sidewalk Labs CEO Dan Doctoroff and Waterfront Toronto chair Stephen Diamond discuss Quayside development proposal at Toronto Board of Trade
-2:00 p.m. ET: Transportation Safety Board of Canada chair Kathy Fox and director of investigations Natacha van Themsche hold news conference in Ottawa on Flight 752 investigation
-2:45 p.m. ET: Deputy Prime Minister Chrystia Freeland meets with Atlantic premiers in St. John’s
-4:10 p.m. ET: U.S. President Donald Trump departs White House en route to Joint Base Andrews
Every morning BNN Bloomberg's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN Bloomberg'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.bnnbloomberg.ca/subscribe.