Good evening, let’s start with today’s top stories:
Deputy PM Chrystia Freeland testifies at the Emergencies Act inquiry
Canadian bank CEOs warned Deputy Prime Minister Chrystia Freeland on the eve of the federal government’s invocation of the Emergencies Act about risks to the country’s reputation, saying that Canada was being called a “joke,” as several key border crossings remained blocked by protesters.
During a Feb. 13 call, one bank chief executive relayed the comments of an investor who had said, “I won’t invest another red cent in your banana republic in Canada.” A read-out from the call was tabled with the inquiry studying Ottawa’s invocation of act. The leaders’ names are redacted.
Freeland said that the economic threat to Canada escalated when convoy protesters in early February blocked the Ambassador Bridge at Windsor, Ont., a key trade hub between the United States and Canada. On Feb. 10, she spoke with Brian Deese, a high-level adviser in the Biden administration. In an e-mail summarizing the conversation, she wrote, “they are very, very, very worried.”
Opinion: It’s Trudeau’s show and Friday he will have to answer for it - Shannon Proudfoot
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No heat, no water, no WiFi: Ukraine remains resilient despite hardships inflicted by Russia
Senior international correspondent Mark MacKinnon describes life in Kyiv at the start of the 10th month of Vladimir Putin’s war against Ukraine, the day after Russia struck the country’s civilian infrastructure with yet another barrage of cruise missiles and suicide drones. Electricity, water and gas supplies were disrupted in almost every major city in the country, and all four of Ukraine’s active nuclear power plants were briefly disconnected from the grid.
Despite the bravado displayed by Ukraine’s political and military leaders – and the heroic stoicism of the population – life under Russia’s long-range siege is unquestionably becoming grim.
Opinion: The only path to a lasting peace: stepping up our support for Ukraine - Timothy Garton Ash
World Cup developments: Angry Chinese fans, Chris Hadfield sighting, plus more
This World Cup has left a particularly bitter taste in the mouths of many Chinese fans: It is not only a reminder of how China isn’t participating in international football - having crashed out of qualifiers in February - but how the country itself is cut off from the rest of the world under COVID-19 restrictions.
In Canada’s tournament opener yesterday, you may have seen a familiar face on the sidelines. Former astronaut Chris Hadfield, wearing a Canadian team jacket, was standing shoulder to shoulder with coach John Herdman belting out O Canada before kickoff. Herdman invited Hadfield to speak to the team ahead of the match against Belgium, which Canada lost 1-0.
In today’s action, Portugal’s Cristiano Ronaldo made history, becoming the first male player to score at five World Cups in a 3-2 win over Ghana.
Cathal Kelly:
- Canada coach John Herdman’s new strategy seems to be making enemies with Croatia ahead of Sunday’s game
- Alphonso Davies’ crucial penalty miss may be Canada’s pivotal moment
Ahead of the Game podcast: Canada’s 1-0 loss to Belgium, a missed penalty by Davies and the glory of shock upsets
Read more: Peek inside a $200-a-night ‘room’ at the World Cup
ALSO IN THE NEWS TODAY
Toronto Star battle settled: Jordan Bitove will take ownership of the Toronto Star and Metroland Media Group, according to two sources familiar with the matter, after a bitter falling-out with business partner Paul Rivett earlier this year led to mediation and arbitration.
Alberta releases fiscal update: Record-high oil and gas prices continue to bolster Alberta’s books, with the province forecasting a $12.3-billion surplus for 2022-2023 in its midyear fiscal update, released Thursday.
RIP Borje Salming: Hall of Fame defenceman Borje Salming, who starred for the Toronto Maple Leafs over 16 NHL seasons, has died at 71 after a battle with ALS. Read Cathal Kelly’s column on the moving tribute earlier this month when the hockey legend got his own Lou Gehrig moment.
Former Toronto Maple Leaf Borje Salming, with wife Pia, is honored during a pregame ceremony at the Scotiabank Arena in Toronto on Nov. 11, 2022BRUCE BENNETT/Getty Images
MARKET WATCH
Canada’s main stock index rose today to its highest closing level in more than five months, led by gains for the technology and materials sectors, as optimism grew that the U.S. Federal Reserve would slow the pace of interest rate hikes.
The Toronto Stock Exchange’s S&P/TSX composite index advanced 61.81 points or 0.3 per cent to 20,344.07. The loonie traded at 74.98 U.S. cents.
Wall Street markets were closed today for U.S. Thanksgiving.
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TALKING POINTS
The hateful rhetoric of our toxic culture wars can have deadly consequences
“It would also be irresponsible to pretend there is no connection between the hate speech that has become so ubiquitous – and somehow acceptable in some polite company – and the mass shootings that target specific communities.” - Marsha Lederman
Danielle Smith’s inflation-relief package is a pre-election goodie bag
“If there is one province in this country whose hallmark has been reckless, indulgent spending over the last several decades, it’s been Alberta.” - Gary Mason
LIVING BETTER
What to stream this weekend: With Andor, the Disney empire has finally delivered a new Star Wars show that rivals George Lucas’s initial trilogy in its depth and inventiveness, film editor Barry Hertz writes. The first two episodes are a bore and can be skipped, he advises, but then the entire production levels up to the point of extreme binge-ability.
TODAY’S LONG READ
Why Black Friday deals are looking extra good this year
Shoppers walk past Hudson’s Bay’s Christmas display at the downtown Toronto location on Nov. 16, 2022.Christopher Katsarov/The Globe and Mail
Excess inventory and fears of a looming recession are leading retailers to offer bigger and longer-than-usual Black Friday deals across North America.
After struggling to keep the shelves stocked because of global supply chain snags during last year’s holiday season, the retail industry has swung to the other extreme, with warehouses now piled high with merchandise. And companies are under pressure to draw down on that inventory before the end of the holiday season, when consumer malaise is likely to set in amid high inflation and a slowing economy, said Kostya Polyakov, national industry leader for consumer and retail at consultancy KPMG.
For shoppers, that means extra generous promotions and a wider-than-usual selection at discount outlets, as retailers offload more of their merchandise there. But while the deals started earlier and are expected to last well beyond the usual Black Friday period this holiday, lingering logistical headaches could result in delivery delays, and shipping surcharges owing to high fuel prices will erode some of consumers’ savings. Read Erica Alini’s fully story.
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