HEADLINES
Canada Swung to Goods-Trade Deficit of C$583 Million in October
Canada swung back to a trade deficit in October with a recovery in imports and softer exports thanks to pullback in energy shipments.
The country recorded a merchandise-trade shortfall of C$583 million, Statistics Canada said.
The deficit was narrower than the C$1.5 billion gap economists anticipated, and came after Canada unexpected shifted to its first surplus in eight months in September, at an upwardly revised C$243 million.
The value of Canadian goods exports rose 2.1% from the month before to C$65.61 billion. After declining in September, overall imports increased 3.4% to C$66.19 billion, including a 5.3% jump in imports from the U.S. to C$39.31 billion.
Bragg Gaming to Layoff 12% of Workforce in Cost-Savings Push
Bragg Gaming Group will cut its workforce by about 12%, or roughly 60 jobs, as part of a restructuring that aims to improve the company's cost structure and put it on a quicker path to profitability.
"Given the increasingly complex regulatory compliance requirements, recent tax headwinds across key regions, emerging market opportunities, consolidation in the market and our increased focus on short-term profitability, we needed to take this step now," Chief Executive Matevz Mazij said.
The supplier to online casino, sports betting and lottery operators expects to incur approximately 1 million euros ($1.2 million) worth of charges tied to the restructuring. These charges, largely tied to personnel-related termination costs, are expected to hit during the first quarter.
Kinaxis Appoints Ex-Planview Head as CEO
Kinaxis appointed Razat Gaurav, the former chief executive of Planview, as the company's new CEO, effective Jan. 12.
Gaurav had been CEO of Planview since 2021 and was previously CEO of LLamasoft and held senior roles at Blue Yonder and i2 Technologies.
Interim CEO Bob Courteau will return to his role as non-executive board chair.
Gaurav's "twenty-five years of experience in supply chain solutions, his proven track record in advancing innovation-driven growth, and his passion for developing high-performing cultures make him uniquely qualified for this role," Courteau said.
Canopy Growth to Recapitalize Debt
Canopy Growth will recapitalize its debt through multiple transactions, extending the maturity date of all debt to January 2031 at the earliest.
The company will receive $150 million through a term loan maturing in January 2031 that carries an annual interest rate of 6.25% above the applicable term Secured Overnight Financing Rate. It will use the proceeds to repay its existing debt of $101 million due September 2027, for working capital and to fund potential acquisitions.
The company also agreed to exchange C$96.4 million of existing convertible debentures due May 2029 for a package of new convertible debentures, cash, shares and share purchase warrants worth C$80 million.
Curaleaf Proposes Domestication in Delaware
Curaleaf will seek shareholder approval for a proposed domestication to Delaware.
The company said Delaware's favorable corporate environment would further its strategic objectives and streamline its organizational and regulatory structure within the U.S.
The proposal must be approved by two-thirds of the votes cast to take effect. The company expects to hold the special meeting of shareholders on Feb. 23.
TALKING POINT
Trump Wants Greenland. Why He May Be Overestimating Its Value.
By Anita Hamilton for Barron's
It's no secret that the U.S. wants to make Greenland its own. But while there are many reasons driving President Donald Trump's effort to procure the large, sparsely-populated Arctic island, some experts think the benefits of doing so may be exaggerated.
"Everything that the United States could possibly want from Greenland it already has," says Robert Neil Huebert, a political science professor at the University of Calgary and Director of its Centre for Military, Security and Strategic Studies.
Located northeast of Canada at the junction of the North Atlantic and the Arctic Ocean, Greenland is ideally positioned to monitor submarines entering the Atlantic, detect long-range ballistic missiles, and serve as a base for satellite operations. "It is a strategically exposed island in the Arctic-an area that sees increased activity from Russia and China," Justina Budginaite-Froehly, a fellow at the non-partisan Atlantic Council think tank, told Barron's.
But the U.S. already has all those monitoring capabilities with its current arrangement. In addition to its Pituffik Space Base there, the U.S. has secured various treaties giving it broad access to the 836,000-square mile island, which happens to be owned by Denmark.
The Trump administration views annexing Greenland as giving the U.S. "more control over the Arctic region and ensuring that China and Russia and our adversaries cannot continue their aggression in this very important and strategic region," White House press secretary Karoline Leavitt told reporters Wednesday afternoon.
But acquiring Greenland could both increase tensions with Europe-Denmark has said the territory isn't for sale and a takeover would violate the North Atlantic Treaty Organization's collective security guarantee-while emboldening Russia and China to make similar territorial claims in Europe and Asia.
The U.S. also is interested in Greenland to extract minerals from there, but those benefits may be overstated, too.
Greenland has some of the largest rare earth element $(REE)$ deposits in the world by weight, notes Kathryn Goodenough, principal geologist at the British Geological Survey. These include unusual ones such as the gemstone eudialyte and steenstrupine, which contains other rare earths used in high-tech devices. However, they are also lower grade than many such ores mined elsewhere across the globe, Goodenough notes.
Mining those reserves is particularly tough. "They are very complex ores with highly unusual mineralogy, and some of them have relatively high contents of the radioactive elements uranium and thorium," Goodenough notes. "As yet, no company has successfully opened a REE mine in the region, due to a combination of geological, environmental, engineering, economic and social acceptance challenges."
There's also oil in Greenland, as much as 13 billion barrels according to a recent estimate from advisory firm Sproule ERCE, but so far companies have been unable to access it.
The territory banned new oil drilling there in 2021, largely over environmental concerns. Licenses granted before the moratorium have opened up the possibility of a new revenue source that could help Greenland become financially independent from Denmark, which currently subsidizes the semiautonomous territory.
Greenland could use an influx of cash. It faces a slowing economy and modest growth, according to a Tuesday report from Denmark's national bank. A shortage of skilled workers and rising healthcare costs amid an aging population have contributed to an expected deficit in 2025. Healthcare is free in Greenland, paid for by the government.
"Greenland offers a density of critical natural resources that is virtually unmatched," says Robert Price, CEO of the Texas-based oil-drilling company March GL, which is looking to extract oil from Greenland's Jameson Land basin. (March GL will become Greenland Energy Company following its planned merger with Pelican Acquisition Corp. ) Greenland would get a cut of any profits from oil that potentially gets extracted.
Such enthusiasm is helping to propel the accelerated timeline for working out a deal with Denmark. Secretary of State Marco Rubio said Wednesday that he is meeting with Denmark next week to talk about Greenland.
Diplomacy is always the "first option," Leavitt said Wednesday, after floating the prospect of military action on Tuesday.
"I see military involvement as rather unlikely," says the Atlantic Council's Budginaite-Froehly. "More feasible could be behind-the-scenes pressure on Denmark and Europe, potentially in combination with the ongoing Ukraine peace negotiations."
Talks could be helped along by the prospect of losing U.S. business if it fails to cooperate. More than 20% of Danish exports go to the U.S., including drugs from pharmaceutical firm Novo Nordisk, Danske Bank economists noted on Wednesday.
Write to Anita Hamilton at [anita.hamilton@barrons.com]
Expected Major Events for Friday
00:01/UK: Dec BRC-Sensormatic IQ Footfall Monitor
05:00/JPN: Nov Indexes of Business Conditions - Preliminary Release
07:00/GER: Nov Foreign Trade
07:00/GER: Nov Industrial Production Index
07:45/FRA: Nov Industrial production index
07:45/FRA: Nov Household consumption expenditure in manufactured goods
09:00/ITA: Nov Retail Sales
13:30/US: Sep New Residential Construction - Housing Starts and Building Permits
13:30/US: Oct New Residential Construction - Housing Starts and Building Permits
13:30/CAN: Dec Labour Force Survey
13:30/US: Dec U.S. Employment Report
15:00/US: Jan University of Michigan Survey of Consumers - preliminary
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Friday
Beta Bionics Inc (BBNX) is expected to report for 4Q.
Bio-Path Holdings Inc $(BPTH)$ is expected to report for 3Q.
Black Titan Corp $(BTTC)$ is expected to report for 3Q.
Hurco Cos $(HURC)$ is expected to report for 4Q.
Lifecore Biomedical Inc (LFCR) is expected to report $0.16 for 2Q.
Sonder Holdings Inc $(SONDQ)$ is expected to report for 3Q.
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January 08, 2026 16:25 ET (21:25 GMT)
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