Canadian Tire to buy Hudson's Bay's iconic stripes, logos
Canadian Tire is buying Hudson's Bay's iconic stripes, coat of arms, various company names, logos and related intellectual property in a $30-million deal, as Hudson's Bay liquidates its stores and winds down operations.
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Federal policy bill brings hope in challenging economic times: expert
Michael Dobner, National Leader of Economics & Policy Practice at PwC Canada, joins BNN Bloomberg to discuss the outlook for M&A activity in Canada. Sorry, we're having trouble with this video. Please try again later. [5006/404] An economic and policy analyst is hopeful proposed legislation from the federal government will aid companies amidst global uncertainty and a cooling domestic outlook. Michael Dobner, national leader of economics and policy practice for PwC Canada predicts there could be a pickup in mergers and acquisition activity in 2026, particularly if Ottawa passes Bill C-5 aimed at faster project approvals. 'We are optimistic because we are hearing good signals from the federal government,' said Dobner. 'Bill C-5 is suggesting that the government is very serious about moving projects much faster.' A report from PwC Canada states Canadian companies announced 1,068 deals totaling $227 billion. However, the report notes a decline in inbound and locally sourced deals in Canada due to persistent uncertainty from U.S. President Donald Trumps tariffs. PwC's baseline projection for Canadian GDP growth in 2025 remains below one per cent. Bill C-5, the One Canadian Economy Act, establishes a statutory framework to remove federal barriers to the interprovincial trade of goods and services and to improve labour mobility within Canada. It aims to fast-track major projects deemed of national interest. 'We will see probably more investment starts to come in, especially if the signals from the government are continuing to show that it's serious and it's overcoming all the difficulties that it may face in trying to transform the Canadian government,' said Dobner. The firms note the bill is part of a suite of policy priorities shaping Canada's new vision. It states key priorities such as streamlined regulations, large-scale infrastructure projects, increased investment in defence and Arctic development, the removal of interprovincial trade barriers, fast-tracked integration of artificial intelligence and a changed immigration system to focus on attracting highly skilled individuals will address Canada's productivity and competitiveness challenges. 'The government has an agenda for housing, especially modular housing,' said Dobner. 'Let's not forget the defence sector, which is going to benefit from a big boost. So those are areas that we are seeing definitely a potential for further investments in 2026.' The report notes that if early policy actions are interpreted by market players as genuine, practical and decisive, PwC Canada suggests that meaningful improvements in Canada's economic outlook could begin as early as 2026. Dobner expects increased investment in mining, infrastructure, housing, and defence. 'We have seen critical minerals, which we think is a big catalyst for the Canadian economy, being a key central point in the G7 discussion, as well as the discussion or negotiation between the U.S. and Canada,' said Dobner. 'On the basis of the government showing seriousness and giving good signals, and the fact that our allies are coalescing around critical minerals, defence and AI, we are more optimistic about what would happen in 2026.' He acknowledged concerns that projects will be rushed. The Chiefs of Ontario are concerned it would undermine Indigenous rights and environmental protections. 'We are in an economic emergency,' said Dobner. 'I'm not putting out a political view, but from an economic standpoint, it may make sense.' While the report highlights good reason for cautious optimism, it notes that the global environment remains unpredictable. Potential global crises, financial crisis from a weakening U.S. dollar, or disruption of entire sectors by emerging technologies.
CTV News
15 minutes ago
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‘Forgetful' $40M lotto winner from Vancouver had winning ticket sitting in his bag for weeks
Daniel Chau, who won a $40 million LottoMax jackpot is shown in this photo provided by the B.C. Lottery Corporation. B.C.'s newest multimillionaire claimed his prize Thursday, describing the fateful moment last month when he purchased the winning ticket for the May 23 draw after a run in Burnaby's Central Park. 'Something really pushed me to buy that ticket without any planning,' he said. That ticket would sit in his bag for another three weeks until a tickle in his throat prompted him to reach for a cough drop earlier this week. 'I buy lots of tickets but I rarely check them. To be honest, I'm very forgetful,' he said, adding that he scanned one ticket that didn't win anything before scanning the second. 'I literally dropped my phone. I have never seen that many zeroes in my life.' Chau has since shared the news with his partner, who he says was incredulous when presented with a screenshot from the BC Lottery Corporation app. 'It took like an hour to convince them this was my ticket,' Chau said. 'We are, like, walking on cloud nine. We are so happy.' Amid the overwhelming emotion, Chau said he is also trying to be rational and practical – saying he will be hiring a financial planner to help him figure out how to manage the windfall responsibly. His plans for the money so far include buying a home for himself and his partner, and one for his parents. 'I want to contribute back to the community, because I know this might be a life-changing experience to me, and I want to use a part of it to change other people's life as well,' Chau said. Checking some destinations he's been saving up money to travel to off of his 'bucket list' is also something Chau says he looks forward to doing. For now, he said he's just trying to enjoy the ride. 'It's like a roller coaster. I love roller coasters,' Chau said. The odds of winning the LottoMax jackpot are one in 33,294,800 per $5 play, according to BCLC. Chau's win marks the second time in a month that someone in B.C. has taken home tens of millions of dollars. Surrey resident Justin Simporios claimed an $80-million prize in the May 9 draw, making him the winner of the largest jackpot ever claimed by a single Canadian.
CTV News
15 minutes ago
- CTV News
Minister Leblanc ‘optimistic' about making progress with U.S. negotiations
Watch Minister of Intergovernmental Affairs Dominic LeBlanc says he is having ongoing conversations with U.S. officials to negotiate a deal.
