HEADLINES

Barrick Looks to Get Handle on North American Operations, Find Growth

Barrick Mining is diving into how its core gold operations in Nevada are being run and is looking for opportunities to boost production, steps that come after parting ways with its former chief executive.

Shares rose 5.3% to settle at C$48.89.

Mark Hill, Barrick's interim CEO, said that the mining company is determined to grow and not just replace the resources it digs up, and to produce gold and copper safely.

Since taking on the role and being named chief operating officer in late September, Hill said he has met with Barrick's teams around the world. He also spent several weeks in Nevada, which alongside an asset in the Dominican Republic, is a focus of the company's review.

Barrick Looking to Reset Safety Culture Barrick Continues Efforts to Free Workers Jailed in Mali

Burger King Strikes Joint Venture to Double Presence in China

Restaurant Brands International has struck a joint-venture deal with Chinese private-equity firm CPE to inject capital into its Burger King China business and help fuel growth overseas, executives told The Wall Street Journal.

Restaurant Brands shares settled at C$97.00, up 2%.

CPE has agreed to invest $350 million to support the opening of new Burger King restaurants in China, as well as marketing, menu innovation and general operations. As part of the deal, CPE will control 83% of Burger King China, with Restaurant Brands keeping the remaining 17% stake.

The firm, an early backer of the company behind the Labubu dolls craze, has committed to doubling Burger King's restaurant count in China to around 2,500 in five years, and to at least 4,000 locations within 10 years.

Canada Firms' Investment Outlook Remains Sour

The Conference Board of Canada's business-confidence index rose in the third quarter to a 2025 high but remains at historically depressed levels.

The board's index hit 69.4 in the third quarter, remaining below the 70 mark for three straight quarters. The last time it was above 80 was in early 2022.

The board said over 40% of firms intend to scale back business-investment plans, citing trade-policy uncertainty.

The board added the share of businesses expecting their financial position to deteriorate continues to exceed those expecting gains.

AtkinsRealis Buys Michigan Engineering Company C2AE

AtkinsRealis acquired Michigan-based architecture-and-engineering firm C2AE as the Canadian company looks to accelerate growth in the U.S. and extend its footprint in the U.S. upper Midwest.

The purchase price wasn't disclosed. The two companies have previously collaborated on several projects, said AtkinsRealis on Monday.

C2AE offers a range of engineering services to clients including state and local governments, transportation agencies, and private-sector organizations.

Village Farms Shares Rise After Earnings Beat Expectations

Shares of Village Farms International rose after the company reported third-quarter profit and sales above analysts' expectations.

Nasdaq-listed shares jumped 16.9%, settling at $3.46.

The agricultural greenhouse facility operator reported third-quarter net income attributable to shareholders of $10.2 million, or 8 cents a share, compared with a loss of $820,000, or 1 cent a share, the year prior. Analysts expected 3 cents a share, according to FactSet.

Sales rose to $66.7 million from $54.9 million. Wall Street expected $58 million.

Premium Brands Says Inflation, Higher Costs to Weigh in 2025

Premium Brands Holdings expects to generate higher revenue in the year, but said the higher price of beef and other ingredients will continue to weigh on profit into the fourth quarter.

The Canadian specialty-food manufacturing-and-distribution company said thanks to the momentum in its business, it is increasing its guidance for revenue to between C$7.4 billion and C$7.5 billion.

Previously, Premium Brands expected revenue of $7.2 billion to $7.4 billion. Analysts forecasted revenue closer to the top end of the previous guidance, estimating C$7.37 billion on average, according to FactSet.

Constellation Software Boosts Revenue With Acquisitions

Constellation Software logged a higher revenue in its latest quarter as the company grew from acquisitions.

The Canadian software giant posted a profit of $162 million, or $9.89 a share, for the third quarter, compared with $187 million, or $7.74 a share, a year earlier.

Revenue rose 16% to $2.95 billion. Analysts expected $2.97 billion.

Constellation attributed the increase to acquisitions. The company completed several acquisitions in the quarter for aggregate cash consideration of $281 million, including acquired cash, it said.

TALKING POINT

Lightspeed CEO Sees Holiday Spending Holding Steady Across Specialty Retail, Hospitality

By Adriano Marchese

Lightspeed Commerce Chief Executive Dax Dasilva said consumers are continuing to spend on dining out and specialty retail even after months of economic uncertainty, which he said bodes well for the holiday season.

"We haven't seen any tapering at all," Dasilva said. After a brief lull in January and February tied to heightened trade-policy tensions, sales momentum has returned and continued to trend up, he said.

"We've seen strong momentum since the early part of the year and it just continues," Dasilva said.

He said that, while inflation has made shoppers more value-conscious, inflation hasn't dampened demand. "It's built in that people need to look for deals. I don't think it's stopping people from shopping," he said.

Data from the Montreal-based commerce platform, which is drawn from hundreds of thousands of independent retailers across North America and Europe, shows that roughly two-thirds of consumers plan to shop over the Black Friday-Cyber Monday period, with many getting a head start as early as mid-October.

Last week, Lightspeed raised its outlook after seeing steady same-store sales growth across its two main markets. Dasilva said categories that had cooled since the pandemic, like outdoor gear, cycling and home and garden, are now making a comeback, while European hospitality remains strong after a packed summer season.

"People are buying bikes again. They're buying home and garden products, " he said. "And we're still seeing strong spending in restaurants and bars in Europe."

Dasilva's view of the specialty retail economy suggests resilience heading into 2026, particularly among consumers with discretionary income. "Perhaps specialty retail is faring better," Dasilva said, "because those that can spend are spending."

Write to Adriano Marchese at [adriano.marchese@wsj.com]

Expected Major Events for Tuesday

00:01/UK: Oct BRC-KPMG Retail Sales Monitor

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

04:30/JPN: Oct Corporate Insolvencies

05:00/JPN: Oct Economy Watchers Survey

07:00/UK: Oct UK monthly unemployment figures

10:05/GER: Nov ZEW Indicator of Economic Sentiment

11:00/US: Oct NFIB Index of Small Business Optimism

13:55/US: 11/08 Johnson Redbook Retail Sales Index

23:50/JPN: Oct Money Stock, Broadly-defined Liquidity

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

Expected Earnings for Tuesday

ACCESS Newswire Inc $(ACCS)$ is expected to report $-0.08 for 3Q.

Aemetis Inc (AMTX) is expected to report $-0.02 for 3Q.

Altius Minerals Corp (ALS.T) is expected to report for 3Q.

Amdocs Ltd (DOX) is expected to report $1.54 for 4Q.

Atara Biotherapeutics Inc (ATRA) is expected to report for 3Q.

Atossa Therapeutics Inc $(ATOS)$ is expected to report $-0.06 for 3Q.

Aya Gold & Silver Inc (AYA.T) is expected to report for 3Q.

Bengal Energy Ltd (BNG.T) is expected to report for 2Q.

Caribou Biosciences Inc (CRBU) is expected to report $-0.35 for 3Q.

Celldex Therapeutics Inc $(CLDX)$ is expected to report $-0.90 for 3Q.

Cenntro Inc $(CENN)$ is expected to report for 3Q.

Century Therapeutics Inc $(IPSC)$ is expected to report $-0.19 for 3Q.

EVI Industries Inc (EVI) is expected to report $0.16 for 1Q.

Fathom Holdings Inc (FTHM) is expected to report $-0.14 for 3Q.

Finning International Inc (FTT.T) is expected to report $0.97 for 3Q.

Genprex Inc $(GNPX)$ is expected to report for 3Q.

Gulf Island Fabrication Inc $(GIFI)$ is expected to report $0.00 for 3Q.

KalVista Pharmaceuticals Inc $(KALV)$ is expected to report $-1.02 for 3Q.

Karnalyte Resources (KRLTF,KRN.T) is expected to report for 3Q.

Lightpath Technologies Inc - Class A $(LPTH)$ is expected to report $-0.06 for 1Q.

Macrogenics Inc $(MGNX)$ is expected to report $-0.45 for 3Q.

MeiraGTx Holdings PLC $(MGTX)$ is expected to report $-0.50 for 3Q.

MicroVision Inc $(MVIS)$ is expected to report $-0.06 for 3Q.

Navios Maritime Partners LP (NMM) is expected to report $2.10 for 3Q.

Nu Ride Inc (NRDE) is expected to report for 3Q.

NuVista Energy Ltd (NVA.T) is expected to report $0.26 for 3Q.

Palvella Therapeutics Inc (PVLA) is expected to report for 3Q.

Piedmont Lithium Inc (PLL,PLL.AU) is expected to report for 3Q.

Prelude Therapeutics Inc (PRLD) is expected to report $-0.35 for 3Q.

QuickLogic Corp $(QUIK)$ is expected to report $-0.27 for 3Q.

Smart Sand Inc (SND) is expected to report $0.15 for 3Q.

Solesence Inc $(SLSN)$ is expected to report for 3Q.

SoundThinking Inc $(SSTI)$ is expected to report $-0.06 for 3Q.

Stereotaxis Inc $(STXS)$ is expected to report for 3Q.

Sypris Solutions Inc (SYPR) is expected to report for 3Q.

United States Antimony Corp (UAMY) is expected to report $0.01 for 3Q.

Vista Gold Corp (VGZ,VGZ.T) is expected to report for 3Q.

Wilhelmina International Inc (WHLM) is expected to report for 3Q.

Workhorse Group Inc $(WKHS)$ is expected to report for 3Q.

Xtant Medical Holdings Inc (XTNT) is expected to report $-0.01 for 3Q.

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

(END) Dow Jones Newswires

November 10, 2025 16:30 ET (21:30 GMT)

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