Here are five things you need to know this morning
Inflation in the spotlight Inflation takes centre stage today. Canada’s consumer price index for the month of February rose at a 2.6 per cent annualized rate. Inflation picked up as the federal government’s temporary tax break on many popular household products came to an end. The rate is up from 1.9 per cent in January. Higher global food prices and average gasoline prices also boosted February’s headline inflation print.
Carney warns of “limit” on tariff response Prime Minister Mark Carney is warning “there is a limit” to Canada’s tariff response to the U.S. At a news conference in the U.K., Carney said “We are not going to take an action that we think is not ultimately going to influence the United States, and certainly not one that is outright harmful to Canada. … There’s a limit to matching these tariffs, dollar -for-dollar, given the fact that our economy is a tenth the size the United States.” The statement followed meetings with French President Emmanuel Macron in Paris, followed by an audience with King Charles III and a meeting with U.K. Prime Minister Keir Starmer.
New directors at Parkland Parkland has appointed two new members to its board, as investors continue to push for changes at the Calgary fuel company. The new board members are Bed Bath & Beyond CEO Sue Gove and former Ecopetrol CEO Felipe Bayon. Parkland says it still welcomes major shareholder Simpson Oil to rejoin the board and participate in a strategic review.
Ultra-fast EV charging A Chinese automaker is shaking up the electric vehicle market. BYD has unveiled a line-up of vehicles based on a new battery and charging system that the company says is capable of providing around 400 kilometers of range in just five minutes of charging time. The company will start selling vehicles with the new technology next month. BYD already rivals Tesla as the world’s top EV seller – even in the face of prohibitive import tariffs in many countries, including Canada and the U.S.
Nvidia CEO speech Investors will be closely watching a speech from a key executive in the technology sector today. Nvidia CEO Jensen Huang will speak at an event in San Jose California at 10 a.m. PT. Nvidia’s annual GTC Developers Conference is sometimes called “AI Woodstock.” It started yesterday and had been expected to bring more than 25,000 in-person attendees. Analysts expect Huang to unveil the “Blackwell Ultra” today – an improved version of its most sophisticated chip for artificial intelligence applications.
