3M lifts profit forecast as AI push deepens, shares rise

Published: October 20, 2026 at 4:38p.m. EDTBNN Bloomberg is Canada’s definitive source for business news dedicated exclusively to helping Canadians invest and build their businesses. Netflix issued a weaker than expected forecast for fourth quarter profit on Tuesday, days after the streaming pioneer laid off six per cent of its workforce and replaced two of its top programming executives. Shares of Netflix fell nearly seven per cent to US$63.99 in after-hours trading. The stock had fallen more than more than 40 per cent in a year before the earnings report. Third-quarter revenue rose 11.8 per cent to US$12.87 billion, in line with Wall Street forecasts, but the lowest rate of increase in nearly three years. The company forecast fourth-quarter net income of US$2.79 billion and EPS of 67 cents, below the average analyst forecast of US$3.07 billion and 73 cents. Latest updates on company news hereNetflix reduced its advertising forecast for 2026 to roughly US$2.7 billion, down from about US$3 billion. Some ad product capabilities rolled out slightly slower than expected, executives said in their quarterly letter to shareholders.

Finance Minister Francois-Philippe Champagne announced during question period in the House of Commons that the federal budget will be unveiled on Nov. 5. OTTAWA - Finance Minister François-Philippe Champagne will table the federal budget on Nov. 5, he announced in the House of Commons on Tuesday. “This plan will unlock investment, create high-paying jobs across our nation, and strengthen our economy and our country for generations to come,” Champagne declared as he unveiled the date. The fall budget, which provides Canadians with the federal government’s economic blueprint, will be the second under Prime Minister Mark Carney. Last month, Carney said his government is on track to balance its operating budget by 2027-28, one year earlier than he first promised. Finance and National Revenue Minister Francois-Philippe Champagne looks on as Prime Minister Mark Carney responds to a question during an announcement on Parliament Hill in Ottawa, Tuesday, April 14, 2026.

Finance Minister Francois-Philippe Champagne announced during question period in the House of Commons that the federal budget will be unveiled on Nov. 5. OTTAWA - Finance Minister François-Philippe Champagne will table the federal budget on Nov. 5, he announced in the House of Commons on Tuesday. “This plan will unlock investment, create high-paying jobs across our nation, and strengthen our economy and our country for generations to come,” Champagne declared as he unveiled the date. The fall budget, which provides Canadians with the federal government’s economic blueprint, will be the second under Prime Minister Mark Carney. Last month, Carney said his government is on track to balance its operating budget by 2027-28, one year earlier than he first promised. Finance and National Revenue Minister Francois-Philippe Champagne looks on as Prime Minister Mark Carney responds to a question during an announcement on Parliament Hill in Ottawa, Tuesday, April 14, 2026.

Trade WarUpdated: October 20, 2026 at 3:46p.m. EDTPublished: October 20, 2026 at 3:32p.m. EDTPresident Donald Trump speaks in the Oval Office of the White House on Tuesday, Oct. 20, 2026, in Washington. (AP Photo/Jacquelyn Martin) A lawsuit challenging U. S. President Donald Trump’s tariffs targeting Canada has been filed in the United States Court of International Trade. The lawsuit, filed Tuesday by the non-profit Liberty Justice Center on behalf of U. S. food importer Gellert Global Group, argues Trump’s use of a Depression-era trade statute exceeds his power as president. Trump used Section 338 of the Tariff Act of 1930 to slap an array of Canadian goods with a 50 per cent levy after trade talks broke down in August. The same statute was used the following month to ban the import of other Canadian goods, including motorcycles and some alcohol and dairy products. Liberty Justice Center CEO Sara Albrecht says in a news release that no president should have the power to pull a dormant statute off the shelf and use it to impose sweeping tariffs or import bans. The lawsuit asks the court to declare the tariffs unlawful and order a refund. Kelly Geraldine Malone, The Canadian Press

Trade WarUpdated: October 20, 2026 at 3:45p.m. EDTPublished: October 20, 2026 at 3:32p.m. EDTPresident Donald Trump speaks in the Oval Office of the White House on Tuesday, Oct. 20, 2026, in Washington. (AP Photo/Jacquelyn Martin) A lawsuit challenging U. S. President Donald Trump’s tariffs targeting Canada has been filed in the United States Court of International Trade. The lawsuit, filed Tuesday by the non-profit Liberty Justice Center on behalf of U. S. food importer Gellert Global Group, argues Trump’s use of a Depression-era trade statute exceeds his power as president. Trump used Section 338 of the Tariff Act of 1930 to slap an array of Canadian goods with a 50 per cent levy after trade talks broke down in August. The same statute was used the following month to ban the import of other Canadian goods, including motorcycles and some alcohol and dairy products. Liberty Justice Center CEO Sara Albrecht says in a news release that no president should have the power to pull a dormant statute off the shelf and use it to impose sweeping tariffs or import bans. The lawsuit asks the court to declare the tariffs unlawful and order a refund.

Published: October 20, 2026 at 3:09p.m. EDTBNN Bloomberg is Canada’s definitive source for business news dedicated exclusively to helping Canadians invest and build their businesses. Toymaker Hasbro raised full-year forecast for both overall revenue and its digital gaming business on Tuesday, as its flagship trading card game, “Magic: The Gathering,” powers demand ahead of the crucial holiday season. The Play-Doh maker has posted seven straight quarters of gains in digital gaming, which also includes Monopoly Go!, while stronger sales of collectibles linked to Marvel, K-Pop Demon Hunters and Transformers boosted demand for traditional toys. Its shares were up five per cent. The Wizards of the Coast and Digital Gaming segment, the company’s second-largest revenue generator, grew 31 per cent during the third quarter. Revenue from the consumer products segment rose four per cent. Latest updates on company news hereQuarterly revenue from “Magic: The Gathering” gaming franchise topped US$600 million for the first time, up 34 per cent from a year earlier, fueled by premiere sets — The Hobbit and Reality Fracture.