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Noah Zivitz

Managing Editor, BNN Bloomberg

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We're getting another warning about fragile Canadian competitiveness today. A new report produced for the Business Council of Caada estiamtes 635,000 Canadian jobs are at risk because of U.S. tax reform. The stunning number comes hot on the heels of warnings by the CEOs and Suncor and CIBC - and raises the stakes ahead of Finance Minister Bill Morneau's fall economic update. 

TRUMP SOFTENS TONE ON CANADA 

There was a subtle change in tone from U.S. President Donald Trump yesterday afternoon when asked about trade negotiations with this country. “I think the deal with Canada is coming along very well,” he said. “We’ve all been dealing in good faith.” While that’s questionable considering his threat to cause the “ruination” of the Canadian economy with auto tariffs, it also suggests the door might be open a bit wider for an agreement. Question is whether Justin Trudeau and Chrystia Freeland will be drawn in. The foreign affairs minister said late yesterday a deal is “eminently possible”, while the PM reiterated he won’t accept a bad deal for Canada. We’ll watch how this plays out in Saskatoon today where the Liberal caucus is meeting.

LINTON’S LIFE BEYOND POT

He’s more than just the face of Canada’s cannabis industry. He also has a hand in making sure networks don’t get gummed up. Find out more about Bruce Linton’s life outside of pot when he joins us live from the TSX this morning, where his Martello Technologies is making its debut on the Venture.

FLORENCE WATCH

We’ll check in with CTV News’ Joy Malbon this morning for a live update from Wilmington, NC on preparations for Florence. As of the latest update from the U.S. National Hurricane Center, the category four hurricane is carrying maximum winds of 220 km/hour and is expected to hit the Carolinas tomorrow or Friday.

LIVE FROM APPLE LAUNCH

We’ve got in-depth coverage of Apple’s product launch courtesy of our Bloomberg partners at 1:00 p.m. ET. Their advance reporting indicates three new iterations of the iPhone X will be unveiled today, including one with an even larger screen and a low-cost version. Watch the news as it unfolds from Cupertino later today, and we’ll size up the Canadian pricing on The Real Economy.

OTHER NOTABLE STORIES

-Calgary-based ATCO is expanding in South America, announcing today it’s paying $450 million for a 40 per cent stake in port operator Neltume. 

-TD Bank has confirmed it is teaming up with U.S. fintech The Hydrogen Technology Corporation to bolster its WebBroker service.

-Mortgage Professionals Canada has released a report today that makes the financial case for owning instead of renting. We will stress test its findings. And yes, we'll keep in mind MPC represents the mortgage industry.

NOTABLE RELEASES/EVENTS

-Notable earnings: HBC, Roots

-Notable data: Canadian industrial capacity utilization, Teranet/National Bank Canadian home price index

-9:00 a.m. ET: BCE CEO George Cope presents at BMO Capital Markets conference

-10:00 a.m. ET: Former U.S. Federal Reserve Chairman Ben Bernanke, Former Treasury Secretaries Hank Paulson and Timothy Geithner discuss financial crisis anniversary at Brookings Institution event in Washington, D.C.

-11:45 a.m. ET: Liberal Party holds national caucus meeting in Saskatoon

-12:00 p.m. ET: Google Chief Economist Hal Varian delivers speech at Economic Club in Toronto

-1:00 p.m. ET: Apple holds product unveiling in Cupertino, California

-2:00 p.m. ET: U.S. Federal Reserve releases Beige Book

-2:30 p.m ET: Prime Minister Justin Trudeau meets with Saskatchewan Premier Scott Moe in Saskatoon

-4:00 p.m. ET: Media avail at NDP strategy session in Surrey, B.C.

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