Union Pacific tops estimates on pricing strength, flags hit from high fuel costs

OTTAWA - More than 50 of Canada’s top scientists and scholars are warning that Prime Minister Mark Carney’s marquee legislation aimed at fast-tracking major projects needs to be amended, or the federal government is risking “costly and potentially irreversible harm,” to the environment. In an open letter published Thursday, 56 fellows from the Royal Society of Canada outline six specific amendments they say need to be made to Bill C-39, the Building Canada Strong Act. The scientific experts write that while they support the bill’s central aim of streamlining project assessments, there are several clauses within the legislation that need to be altered or scrapped entirely. They say the changes are needed for the government to keep its promise to protect species at risk, delicate ecosystems, natural resources and human well-being. “Bill C-39, as drafted, really puts aside a lot of the environmental regulations and laws that we have in place in Canada to protect nature and protect our waters, protect our air,” said Dr. Sarah Otto in an interview with CTV News.

Published: October 22, 2026 at 3:14p.m. EDTOTTAWA — The Conservatives are calling on the government to implement temporary resident exit tracking, boost collaboration with the provinces and further reduce permanent residency admissions in the coming immigration levels plan. Conservative immigration critic Michelle Rempel Garner outlined these and other demands in a press conference today, and blamed government policy for a rise in anti-immigrant sentiment in recent years. She said the government should be putting more emphasis on integrating newcomers to restore faith in the system and ease social tensions around immigration. Prime Minister Mark Carney said Wednesday the government “will not budge” on its goal of making immigration numbers sustainable and its plan is “getting them to that level now.”Last year’s immigration levels plan, which set a target of admitting 380,000 permanent residents annually between 2026 and 2028, also included two programs aimed at giving permanent status to more than 130,000 temporary residents who aren’t included in the broader target. The government must provide an updated levels plan in the next few weeks.

Published: October 22, 2026 at 2:58p.m. EDTKeith Buchanan, partner and senior portfolio manager at Globalt Investments, joins BNN Bloomberg to share his Hot Picks in financials. The U. S. financial sector offers a window into business activity and consumer finances. Trading, initial public offerings, advisory work and credit trends help reveal the economy’s health. BNN Bloomberg spoke with Keith Buchanan, senior portfolio manager at Globalt Investments, about his three financial stock selections and how he evaluates opportunities across banking and insurance. How to set BNN Bloomberg as your preferred source on GoogleKey TakeawaysProfitable underwriting and investment income support Travelers’ appeal as a source of relatively stable earnings, Buchanan said. Travelers’ geographic reach helps diversify exposure to concentrated risks, including weather-related losses. Aflac faces pressure from rising Japanese interest rates and a weaker yen, but Buchanan said those concerns have also helped improve its pricing environment. Wells Fargo’s asset cap removal creates an opportunity to grow earnings and narrow its valuation gap with other major banks, provided it executes effectively.

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.