Good evening, let’s start with today’s top stories:
Trudeau warns against the use of force to resolve protests over Indigenous rights
Prime Minister Justin Trudeau called for patience Tuesday, describing the rail blockades as “a critical moment for our country and for our future,” Trudeau acknowledged the frustrations caused by the disruptions, but cautioned against extreme viewpoints.
“Those who would want us to act in haste, who want us to boil this down to slogans and ignore the complexities, who think that using force is helpful – it is not. Patience may be in short supply and that makes it more valuable than ever,” Trudeau said in a speech to the House of Commons, adding that his government remains open to discussions with First Nations to address their concerns.
Conservative Leader Andrew Scheer dismissed Trudeau’s words, saying they failed to denounce the actions of “radical activists” as illegal and failed to offer a plan of action.
Meanwhile, Via Rail says partial service is set to resume between Quebec City, Montreal and Ottawa beginning Thursday. Almost all other Via Rail services remain cancelled with the exception of Sudbury-White River and Churchill-The Pas, until further notice.
- John Ibbitson: Every day rail blockade lasts, Trudeau’s stock drops lower
- Andrew Coyne: Yes, the blockades are illegal. No, they should not be met with force
And read our Explainer: Wet’suwet’en chiefs vs. RCMP: A guide to the dispute over B.C.’s Coastal GasLink pipeline
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Michael Bloomberg surges with unconventional Democratic presidential campaign
While fellow moderate Joe Biden stumbles, and rising stars Pete Buttigieg and Amy Klobuchar fight for the middle ground, and firebrands Bernie Sanders and Elizabeth Warren trade barbs and continue to scare the bejesus out of Wall Street, media mogul and former mayor of New York Michael Bloomberg bides his time before jumping into the fray at Wednesday’s Nevada debate, and then beginning his delegate quest on Super Tuesday, March 3.
A poll from last week placed him behind Sanders and in a statistical dead heat with Biden. Bloomberg’s campaign is betting that voters will see him as having the best chance to defeat Donald Trump, with the candidate framing himself as the more capable of the two New York billionaires.
- Lawrence Martin: Like it or not, the Democrats will need Bloomberg’s billions against Trump’s money machine
- John Doyle: At last, a Democratic candidates TV debate worth watching: Bloomberg’s in
Meanwhile, Donald Trump, the current billionaire-in-chief, called for all cases stemming from Special Counsel Robert Mueller’s investigation into Russian interference in the 2016 election to be “thrown out” and suggested he could bring a lawsuit over the matter.
E-mails reveal network of Liberal officials involved in judicial appointments
Dozens of e-mails between ministerial staffers from 2017 and 2018 detail widespread partisan involvement in the selection of new judges, offering unprecedented insight into the inner workings of the current judicial appointment process. The e-mails show no evidence the government is breaking any rules, but show steps in the appointment process that are not laid out publicly on any government website.
Liberal MPs, ministerial staff members and even party volunteers have been involved in candidate vetting since the federal government revamped the process in 2016. Judges at the federal level are appointed by the prime minister on the advice of cabinet after a recommendation from the justice minister. The Liberals say changes they made ensure the process is transparent and merit-based.
ALSO ON OUR RADAR
Inside Bombardier’s decision to sell its rail business to France’s Alstom
Nearly five years after Alain Bellemare took the wheel as CEO and tried to turn the company around, Bombardier remained heavily indebted. Daily operations weren’t covering expenses, and if a major downturn came, its financial cushion could vanish. Directors did not see a path forward for the Canadian multinational short of a major asset sale.
Judge rules Alberta has 10 days to decide on Prosper oil sands project
The privately held company sued the government, saying the lengthy delay in making a final go-ahead decision following the project’s regulatory approval put it in financial hardship.
Canada’s banking regulator proposes new mortgage stress-test rule
The Office of the Superintendent of Financial Institutions is considering scrapping the current benchmark rate for five-year mortgages published by the Bank of Canada in favour of a new rate. The new standard would be a weekly median of five-year fixed rates on insured mortgages, drawn from applications for mortgage insurance made by major lenders, plus two percentage points.
China sees fall in coronavirus deaths but WHO urges caution
World Health Organization Director-General Tedros Adhanom Ghebreyesus said Chinese data “appears to show a decline in new cases” but any apparent trend “must be interpreted very cautiously.”
Departing shows Schitt’s Creek and Anne with an E grab the most Canadian Screen Award nominations
Though shut down last year after its third season, the Netflix-CBC drama based on Lucy Maud Montgomery’s novel Anne of Green Gables gathered the second-most 2020 nominations behind Schitt’s Creek’s 26 nods and ahead of the 14 handed to the CTV crime drama Cardinal.
MARKET WATCH
Gold rose and global equity markets slid on Tuesday after Apple Inc. said it was unlikely to meet its sales guidance because of the coronavirus outbreak in China, a warning highlighting the epidemic’s threat to global growth and corporate profits.
China reported its fewest new coronavirus infections since January and its lowest daily death toll in a week, but the World Health Organization said data suggesting the epidemic had slowed should be viewed with caution.
Gold climbed more than 1 per cent to a two-week high as investors sought safety in the wake of Apple’s warning. The price of Brent, the global crude benchmark, fell below US$57 a barrel but later rebounded on reduced supply from oil-rich Libya.
The Toronto Stock Exchange’s S&P/TSX Composite Index was up 9.98 points, or 0.06 per cent, at 17,858.34. The materials sector, which includes precious and base metals miners and fertilizer companies, added 2.1 per cent as gold futures rose. Leading the index were Eldorado Gold Corp., up 10.5 per cent, Ballard Power Systems Inc., up 9.4 per cent, and B2Gold Corp., higher by 8.4 per cent.
The Dow Jones Industrial Average fell 165.89 points, or 0.56 per cent, to 29,232.19, the S&P 500 lost 9.87 points, or 0.29 per cent, to 3,370.29 and the Nasdaq Composite added 1.57 points, or 0.02 per cent, to 9,732.74
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TALKING POINTS
Are net-zero emissions pledges, from Justin Trudeau and oil executives alike, a new form of greenwashing?
Adam Radwanski: “It’s relatively easy to make a promise that may only be judged a success or failure long after current CEOs or politicians are gone from positions of power.”
Canadians deserve a Conservative Party leadership race animated by ideas, not ideology
Hugh Segal: “Ad hominem attacks on Prime Minister Justin Trudeau, or questions about his motivation, may feel good for some in the base. But the results of the last election underline how little wood it chops in the cities and major population centres.” Hugh Segal is the Mathews Fellow in Global Public Policy at the Queen’s School of Policy Studies and senior adviser at Aird Berlis LLP. In 1998, he was runner-up on the first ballot of the Progressive Conservative leadership convention that chose Joe Clark. In 2005, he was appointed to the Senate and sat as a Conservative from Ontario.
LIVING BETTER
I’m tired of fighting my kid about doing homework. Should I let it go?
Sarah Rosensweet weighs in, arguing that taking charge of your child’s homework can result from your anxiety about what the future holds for him. Most of the time we are “catastrophizing,” she says, adding that our fears are unfounded and that allowing him to learn to take responsibility for himself is actually the best way to avoid any imagined bad outcomes.
Winter travel deals: It’s not too late to plan a March Break getaway
Whether you’re looking for the sun and sand of Cancun or Florida, a weekend in a downtown Toronto hotel or perhaps hoping to venture further afield by booking a pre-Olympics tour of Japan, we’ve gathered some of the best hotel and activity deals on the market.
LONG READ FOR A LONG COMMUTE
Northern Labrador’s housing shortages and tuberculosis are two faces of the same crisis
Several times over the decades, Nain has been a cramped and poor place to live as disease displaced the region’s Inuit. Now, locals and health officials are trying to stop the cycle from beginning again.
This edition of Evening Update was compiled by Andrew Saikali. If you’d like to receive this newsletter by e-mail every weekday evening, go here to sign up. If you have any feedback, send us a note.