HEADLINES

Maple Leaf Foods Shares Rise on 2026 Revenue Growth Outlook, Dividend Increase

Maple Leaf Foods shares rose after the company said it expects revenue to grow in 2026 and that it plans to raise its dividend, supported by gains in its sustainable meats business and continued investment in core brands and markets.

Shares rose 3.8% to C$25.80.

The Canadian consumer-packaged-protein company is targeting mid-single-digit revenue growth in 2026 over the prior year.

On the dividend side, the company plans to increase its quarterly payout to shareholders by 10% to C$0.21 a share.

USMCA Is 'Irrelevant,' Trump Says

The U.S.-Mexico-Canada Agreement is "irrelevant," President Trump said, dismissing America's largest trade agreement that he signed in 2020 and is up for review this year.

"I don't even think about USMCA," Trump said at a Ford assembly plant in Michigan.

Trump said that the pact is "no real advantage to us, it's irrelevant really," although Mexico and Canada would like to see it persist.

Building Permits Dropped 13.1% in November

Canadian building permits fell sharply in November with a pullback in both residential and non-residential construction plans.

The total value of building permits dropped 13.1% from the month before to a seasonally adjusted C$12.03 billion, Statistics Canada said. The retreat was sharper than the 6.5% decline expected for the month by economists, according to TD Securities, and rolls back much of the 15.7% jump in the value of permits in October.

Year-over-year, the overall value of permits issued was down 0.5%. In constant-dollar terms, building permits declined 13.3% for the latest month and 3.9% a year earlier.

Bausch Health to Affirm 2025 Guidance Toward Top End of Range

Bausch Health's full-year fiscal performance is set to come in at the higher end of the pharmaceutical company's target.

The Laval, Quebec, company in a filing with the U.S Securities and Exchange Commission said its management expects to reaffirm 2025 guidance for the company, excluding majority-owned eyecare company Bausch + Lomb.

Bausch Health shares rose 0.4% to C$10.43.

Cineplex Ends Year With Strong December Box Office, But Fourth Quarter Lags 2024

Cineplex capped off the year with a strong December box office driven by new releases, but fourth-quarter revenue still fell short of the same period a year earlier.

The Canadian movie theater chain reported December box office revenue of C$67 million, up from C$64.8 million in the prior December. October and November box--office revenue came in below the prior--year months, reaching 88% and 90% of those totals, respectively.

Together, the quarter's revenue came to C$140.7 million, below the C$147.7 million reported in the fourth quarter of 2024 and below Wall Street forecasts. According to FactSet, analysts were expecting a rise to C$167.5 million.

Cineplex shares fell 1.9% to C$10.89.

Global Atomic Shares Slide on C$75 Million Private Placements

Global Atomic shares fell sharply after it said it has raised another C$25 million in a second private placement.

Shares dropped 20% to C$0.76.

The Canadian uranium producer said it has entered into an agreement with Red Cloud Securities to purchase for resale 28.4 million units at a price of C$0.88 apiece.

The news follows late Monday's announcement that it will raise C$50 million through the sale of 56.8 million units. Red Cloud Securities also is acting as finder in connection with the C$50 million offering.

Total Energy Services to Lift Quarterly Dividend 20%

Total Energy Services plans to boost its dividend payout 20% this quarter.

The provider of drilling and transportation services for energy companies in North America and Australia said its board approved lifting the dividend to C$0.12 a share, beginning the quarter ended March 31.

TALKING POINT

Global Central Bankers Rush to Defend Fed's Powell

By Paul Hannon

Top global central bankers said they stand in "full solidarity" with Federal Reserve Chair Jerome Powell, an unprecedented step that underlines how seriously they view the threat to the independence of the U.S. institution.

The heads of the European Central Bank and its counterparts in the U.K., Sweden, Denmark, Switzerland, Australia, Canada, South Korea and Brazil issued a joint statement Tuesday. The signatories also include leaders from the Bank for International Settlements, a grouping of central banks.

"We stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell," the statement said. "The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve."

U.S. prosecutors are investigating Powell over his testimony last summer about the central bank's building-renovation project. The Fed received grand jury subpoenas from the Justice Department on Friday that threaten a criminal indictment.

Powell on Sunday accused the Trump administration of using the threat of criminal prosecution to pressure the U.S. central bank into lowering rates.

"Chair Powell has served with integrity, focused on his mandate and an unwavering commitment to the public interest," the group of central bankers said. "To us, he is a respected colleague who is held in the highest regard by all who have worked with him." The group said it is critical to preserve the Fed's independence, "with full respect for the rule of law and democratic accountability."

Should the Trump administration succeed in pressuring the Fed to lower its key interest rate, economies around the world could feel the consequences.

In a speech Monday, Bank of France Gov. François Villeroy de Galhau warned of "the possibility of a fall in the dollar if the Fed's independence is challenged." That would likely lower inflation in the eurozone and elsewhere, but also weaken exports to the U.S.

Former Fed chairs Alan Greenspan, Ben Bernanke and Janet Yellen on Monday rushed to defend Powell and the Fed's ability to set monetary policy free from political influence, calling the investigation "an unprecedented attempt to use prosecutorial attacks to undermine that independence."

Write to Paul Hannon at [paul.hannon@wsj.com]

Expected Major Events for Wednesday

00:01/UK: Dec UK Nations and Regions Growth Tracker

06:00/JPN: Dec Preliminary Machine Tool Orders

12:00/US: 01/09 MBA Weekly Mortgage Applications Survey

13:30/US: Nov PPI

13:30/US: Nov Advance Monthly Sales for Retail & Food Services

13:30/US: 3Q International Transactions

15:00/US: Oct Manufacturing & Trade: Inventories & Sales

15:00/US: Dec Online Help Wanted Index

15:00/US: Dec Existing Home Sales

15:30/US: 01/09 EIA Weekly Petroleum Status Report

19:00/US: U.S. Federal Reserve Beige Book

23:50/JPN: Dec Corporate Goods Price Index

All times in GMT. Powered by Onclusive and Dow Jones.

Expected Earnings for Wednesday

$Bank of America Corp(BAC-N)$ (BAC) is expected to report $0.96 for 4Q.

Calavo Growers Inc $(CVGW)$ is expected to report $0.37 for 4Q.

Citigroup Inc (C) is expected to report $1.67 for 4Q.

Cogeco Communications Inc (CCA.T,CGEAF) is expected to report $2.08 for 1Q.

Cogeco Inc (CGO.T) is expected to report for 1Q.

Community Trust Bancorp Inc $(CTBI)$ is expected to report $1.41 for 4Q.

Compass Diversified Holdings (CODI) is expected to report $0.06 for 3Q.

Corus Entertainment Inc - Class B (CJR.B.T,CJREF) is expected to report for 1Q.

First Quantum Minerals Ltd (FM.T,FQVLF) is expected to report for Full year.

HB Fuller Co $(FUL)$ is expected to report $0.97 for 4Q.

Home BancShares Inc (HOMB) is expected to report $0.60 for 4Q.

Office Properties Income Trust (OPITQ) is expected to report for 3Q.

Plumas Bancorp (PLBC) is expected to report $1.28 for 4Q.

RF Industries Ltd (RFIL) is expected to report $0.02 for 4Q.

Rocky Mountain Chocolate Factory Inc $(RMCF)$ is expected to report for 3Q.

United Community Banks Inc (UCB) is expected to report $0.71 for 4Q.

Velan Inc (VLN.T,VLNSF) is expected to report for 3Q.

Wells Fargo & Co $(WFC)$ is expected to report $1.66 for 4Q.

Powered by Factset and Dow Jones.

We offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox. If you would like to sign up, please go to https://newsplus.wsj.com/subscriptions.

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

January 13, 2026 16:30 ET (21:30 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.