It is Tuesday, May 5. Here are the top stories we are following today.
Canada Swings to Trade Surplus for First Time in Six Months
Canada recorded a trade surplus for the first time since September 2025, driven by a rebound in exports and a decline in imports. Gold and oil were key contributors to the surplus, according to data released Tuesday.
Shopify Stock Tumbles as Company Predicts Growth Slowdown
Shopify Inc. shares slumped by about nine percent on Tuesday morning after the company reported first-quarter revenue growth but warned of a slowdown ahead. The stock has fallen more than 20 percent in 2026, reflecting investor concerns over artificial intelligence disruption.
Competition Bureau Challenges Keyera's Natural Gas Deal
The Competition Bureau is opposing Keyera Corp.'s proposed acquisition of natural gas assets in Alberta, arguing that the deal could harm energy producers and increase costs across the supply chain. Keyera says the acquisition would enhance domestic energy infrastructure and energy security.
Interest Rate Hikes Possible if Inflation Persists, Tiff Macklem Tells MPs
Bank of Canada Governor Tiff Macklem told the finance committee that the central bank stands ready to respond as needed if high energy prices begin to pass through to other goods and services. He indicated that rate hikes could be necessary if inflation and high energy prices become persistent.
Carney's Fiscal Update Plays a Charming Tune, but Falls Off at the End
Kim Moody criticizes Mark Carney's fiscal update, writing that Canada was not built by a marketing campaign and will not be saved by one. The update, while appealing, ultimately fails to address key economic challenges.
