David Burrows’ Top Picks for Oct. 22, 2026

Published: October 22, 2026 at 2:44p.m. EDTBenjamin Klein, senior portfolio manager at Baskin Wealth Management, joins BNN Bloomberg to discuss the markets. NEW YORK -- The tab for the next round of the AI buildout came due on Thursday. Investors sold shares of Meta Platforms and a wealth of companies central to the AI trade, a day after Meta -- one of the so-called hyperscalers spending billions to build data centres and other infrastructure supporting the AI boom -- said it would issue a new class of shares that will help it raise funds. Meta fell eight per cent, its largest drop since July. SpaceX declined nine per cent and semiconductor giant Nvidia -- a bellwether of the AI trade -- dropped four per cent. The Nasdaq Composite was on track for its largest decline in four months. A 10 per cent plunge in shares of semiconductor company Lam Research following its results also weighed on sentiment and sent the semiconductor index to its largest decline since July. Latest updates on investing hereThe pullback is the latest test for the AI trade, focusing on the rising costs of a long-term project the payoffs from which remain uncertain and will likely be unevenly distributed.

Justine Hendricks, president and CEO of Farm Credit Canada, joins BNN Bloomberg to discuss how Canadian farmers are coping with trade tensions. Canada’s agriculture industry has an opportunity to unlock billions of dollars in revenue from new markets and customers as it adjusts to a reimagined trading relationship with the U. S., says the head of Farm Credit Canada (FCC). “We see an opportunity in terms of diversification of markets, and that opportunity has been quantified,” Justine Hendricks, president and CEO of FCC, told BNN Bloomberg on Thursday. “If you take a look over and above the north-south trade, which we know and recognize is important to this industry, there is a $12 billion opportunity that overall is there for us to go and get.”As a federal Crown corporation, FCC provides financing and advisory services to the agriculture industry, and reports to Canadians and Parliament through Canada’s Minister of Agriculture and Agri-Food. Canada’s wool industry looks inward after tariffs cut it off from the U. S. Hendricks noted that many Canadian agriculture products can still flow into the U. S.

Published: October 22, 2026 at 2:28p.m. EDTA Singapore-based mining company has entered an agreement to acquire the beleaguered Eagle Gold mine in the Yukon for $140 million, more than two years after it was shut down following a massive collapse, with plans to invest a further $1.4 billion in operations and other costs. A statement from Boroo Pte. says that if the deal is approved by the court, it would come with planned capital investment of about $800 million between 2027 and 2029 for environmental rehabilitation, water treatment infrastructure, geotechnical stabilization, and “phased restart activities.”The company says it would also spend more than $600 million over the initial life of the mine “to support and extend mining operations.”The 2024 failure at Eagle Gold’s heap-leach facility released about two-million tonnes of cyanide-laced ore and water into the environment, leading to control of the mine being taken over by a court-appointed receiver.

Published: October 22, 2026 at 2:07p.m. EDTBNN Bloomberg is Canada’s definitive source for business news dedicated exclusively to helping Canadians invest and build their businesses. Melanie Paradis is the president of Texture Communications and has worked at the intersection of mining and politics for 20 years. There is a tendency in Ottawa to think that if you permit a mine, the capital will flow. But those working in the mining industry and on Bay Street know it isn’t that simple. This week, Energy and Natural Resources Minister Tim Hodgson said the world is entering the “largest investment supercycle in the history of the metals and mining industry.” A supercycle refers to a long period of investment in new mines driven by significant shifts in the global economy. According to Hodgson, this supercycle is tied to increased demand for critical minerals generated by changes to the industrial strategies and economic policies of many countries. To leverage this, the federal government introduced Bill C-39, the Building Canada Strong Act, to compress into one year a federal approvals process that routinely takes several.

Company NewsPublished: October 22, 2026 at 1:46p.m. EDTCanada Post plans to expand community mailboxes in 2027 as it works to modernize operations and improve its financial position. OTTAWA — The head of Canada Post says it is showing “early signs” of financial recovery despite falling revenue and bigger losses in the first half of the year. CEO Doug Ettinger says the postal service is winning back some of the parcel delivery market that has slipped away since 2019 as it continues with shipping discounts for small businesses and pushes a new online marketplace for them to sell products directly to consumers. However, he says Canada Post remains “overbuilt” in cities and must be smaller in those urban areas in the future. Latest updates on company news hereSwitching the remaining four million addresses that still enjoy doorstep delivery to community mailboxes within about five years marks a key pillar of Canada Post’s plan to overhaul its business model in the face of declining letter mail and mounting financial losses.

Industry Minister Melanie Joly says Stelco owner Clevland-Cliffs has ‘spoken in favour of U. S. tariffs,’ putting Canadian jobs at risk. Industry Minister Melanie Joly has given Stelco 15 days to make good on its agreements with the Canadian government or face legal action. Joly made the demand in a letter to Stelco’s general counsel on Thursday. In an accompanying statement on X, she wrote that Cleveland-Cliffs, the American company that acquired the steel-producer in 2024, made legally-binding commitments which were key to allowing the transaction to move forward. “As we stand right now, the business is still taking steps to lay off 500 workers. Despite being given multiple opportunities, Cleveland-Cliffs has repeatedly failed to demonstrate that they are compliant with their undertakings. That is unacceptable.”Last month, Cleveland-Cliffs announced it would shut down part of its operation across the Hamilton and Lake Erie facilities, axing up to 500 jobs. At the time, the company cited low steel prices and tariffs imposed by U. S. President Donald Trump.