Good evening, let’s start with today’s top stories:
Victorious Hong Kong pro-democracy candidates vow to press on with demands
Pro-democracy candidates won by a landslide in Hong Kong elections yesterday for district council seats, following months of protests that have included violent clashes over Chinese rule in the semi-autonomous city. With an unprecedented 71-per-cent voter turnout, they gained 389 of 452 seats – up from just 124 – and took command of 17 of 18 district councils.
The Globe and Mail’s Asia correspondent Nathan VanderKlippe spoke with one winning candidate, Carmen Lau, who said the election is “not the end.” She listed issues that remain unresolved, including demands from demonstrators that Hong Kong’s leadership has dismissed and protesters still inside a university, with police maintaining a siege at the exits.
Carrie Lam, the Beijing-backed chief executive of Hong Kong, acknowledged that “quite a few are of the view that the results reflect people’s dissatisfaction with the current situation and the deep-seated problems in society.”
Opinion: “Hong Kong is meant to be different from the mainland, a capitalistic island in a socialist sea. Beijing should throw away the stick and work on sweetening the carrots.” - Frank Ching, Hong Kong-based journalist
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Day 7 of the CN strike hits grain exports, fertilizer production
The strike at Canadian National Railway Co. took a bigger toll on the economy today, forcing a fertilizer company to plan production cutbacks while grain exporters warned buyers they cannot fulfill sales terms.
Nutrien, the world’s largest fertilizer company, says it will halt output at its largest potash mine – in Rocanville, Sask. – for two weeks beginning Dec. 2, as the impact of the strike widens. Meanwhile, at least 35 vessels are waiting at Canada’s West Coast to load grain shipments.
The Teamsters Canada union said it was no closer to an agreement than it when roughly 3,200 of its members walked off the job seven days ago. Striking conductors and yard workers are demanding improved working conditions.
Big deals in business include Charles Schwab buying TD Ameritrade, plus LVMH acquiring Tiffany
Charles Schwab Corp. is acquiring rival discount brokerage TD Ameritrade Holding Corp. for US$26-billion in an all-stock deal that creates a financial service giant with US$5.1-trillion in client assets.
Toronto-Dominion Bank owns 43 per cent of TD Ameritrade, and will swap its shares for a 13.4-per-cent stake in Schwab. The transaction is expected to close in the second half of 2020.
Opinion: “Doing a deal with Schwab, rather than doubling down again on U.S. discount brokerages, is a winning bet.” - Andrew Willis, on TD CEO Bharat Masrani’s strategy
Luxury goods: Louis Vuitton owner LVMH has agreed to buy Tiffany & Co. for US$16.2-billion in its biggest acquisition yet, as the French company aims to restore the U.S. jeweller’s lustre by investing in stores and new collections.
Mining: Kirkland Lake Gold Ltd. is acquiring Detour Gold Corp. in an all-stock deal worth $4.9-billion that sees one of the industry’s best-performing gold companies buy a turnaround play.
ALSO ON OUR RADAR
Last-minute talks set as Metro Vancouver transit strike looms: Last-minute contract talks have been scheduled for tomorrow between Unifor and TransLink as commuters in Metro Vancouver face a transit strike later this week.
Conan gets hero’s welcome from Trump: Conan, the U.S. military dog that played a starring role in the raid that killed Islamic State leader Abu Bakr al-Baghdadi, was honoured with a medal, a plaque and heaps of praise from President Donald Trump at the White House today.
Uber London licence stripped: The Uber ride-hailing service was stripped of its London operating licence today for the second time in just over two years, subject to appeal, after the regulator found a “pattern of failures” on safety and security.
Trump intervened on Navy SEAL’s case: U.S. President Donald Trump ordered the Pentagon to let Edward Gallagher, a Navy SEAL convicted of battlefield misconduct, keep his Trident pin designating him as a member of the elite force, instead of holding a review board, defence secretary Mark Esper says. Esper fired Navy Secretary Richard Spencer yesterday over his handling of Gallagher case.
Former Desjardins leader Claude Béland dies: Former Desjardins Group president Claude Béland has died at 87, according to the Quebec-based financial institution, which described him as a “humanist and philosopher,” whose influence extended far beyond the world of finance.
Grey Cup parade tomorrow: A parade is planned in Winnipeg tomorrow for the Grey Cup-winning Blue Bombers after the team beat the Hamilton Tiger-Cats 33-12 to win its first CFL championship in nearly 30 years.
Each of Wall Street’s three major averages kicked off the trading week by closing at record highs today, as revived hopes the United States and China could soon sign an interim deal to end their prolonged trade war lifted investor sentiment. The Dow Jones Industrial Average rose 190.85 points to 28,066.47, the S&P 500 gained 23.35 points to 3,133.64 and the Nasdaq Composite added 112.61 points to 8,632.49.
Canada’s main stock index rose for the first time in six sessions, as appetite for riskier assets improved around the globe. The Toronto Stock Exchange’s S&P/TSX composite index closed up 78.02 points at 17,032.86.
Looking for investing ideas? Check out The Globe’s weekly digest of the latest insights and analysis from the pros, stock tips, portfolio strategies and what investors need to know for the week ahead. This week’s edition includes Blue-chip dividend hike, cannabis stocks’ sudden spike and BMO’s rosy TSX outlook.
The ‘OK boomer’ revolution will not be televised
“Instead of being bravely honest, many boomer shows and films focus on how we’re not loosening our grip on power, not admitting we’re aging. Will we be the first generation to grow older without growing wiser?” – Johanna Schneller
Canada lost this year but is a Davis Cup favourite for years to come
“That Pospisil & Co. surpassed expectations is not the point. That they cared enough to have expectations is. This team reminded the rest of us how wonderful it feels to be represented so well on the world stage.” – Cathal Kelly
The workplace is considered to be a setting where we keep emotions in check, so when an employee breaks the taboo and cries at work, many managers are at a loss for how to handle it. Human resources adviser Nora Jenkins Townson offers some tips if you have to give tough feedback or even let someone go:
- Prepare: Try to avoid all-glass rooms. If you can’t, yourself to face any transparent walls or doors or strategically blocking windows with movable items: whiteboards, coat racks, etc.
- Observe and act: If you see tears welling up, pause the conversation. Leaving the room for a minute, say to get them some water, gives them a moment to compose themselves, which may be all they need to continue.
- Don’t waiver: While you can be an empathetic boss, it’s not your job to be their friend. Don’t backtrack on the statements you’ve made, and avoid the urge to pile on praise to ease the tension.
LONG READ FOR A LONG COMMUTE
Life hacks I’ve picked up from the death notices
I spend Saturday mornings with a coffee in one hand and my newspaper’s death notices in the other. I have turned my obsession into an art, scanning for ink that lures with promises of quirks and vulnerabilities. Stuff that gets to the grit of a person, rather than the window-dressing of their professional titles.
What is it that makes me want to know these people? I have been asking myself the same question for a decade. Here are 10 lessons First Person essayist Tamara Vukusic has learned from the dead. They include:
1. Ditch the ego and participate
“… [she] tolerated tennis for the sake of the company.” – Katherine Moulton Stevens (1917-2019)
Too often I say “no” to going mountain biking. I might hold others up, I might tire out before the ride is over, it might be too steep. It’s the lines from an obituary such as this that make me bench the ego and get on my bike.