Canada’s largest financial institutions delivered stronger than expected third quarter results, defying concerns over escalating trade disputes and global uncertainty. The banks, reporting earnings for the three months ending July 31, collectively beat analyst forecasts as their stock values climbed 24 percent earlier this year.
The positive financial news comes as Ottawa prepares to impose counter tariffs on nearly 900 American products valued at approximately $28 billion. Set to take effect September 8, the retaliatory measures target goods ranging from fishing equipment to industrial machinery following unsuccessful trade negotiations with Washington.
Where will Canada source its munitions as NATO demand surges? A new explosives manufacturing plant in Belledune, New Brunswick, offers an answer. Nalagx Corp., headed by former Quebec MP Patrick Gagnon, secured commitment for 1,500 acres of Crown land to build the facility, which could reach $2 billion in value as production expands.
The munitions project emerged from recognized shortages across NATO countries, particularly for 155mm artillery shells used extensively in Ukraine’s conflict with Russia. Gagnon and business partner Jared Mintz conceived the factory concept in 2025 after identifying the market gap. Several provinces competed for the project during a year long selection process.
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