Canada’s prime minister brings his global view to the pre-eminent gathering of the world’s elite today at the World Economic Forum in Davos. Trudeau will deliver a keynote this morning on his G7 agenda; based on advance reporting by the Globe and Mail yesterday, he’ll pitch Canada as a destination for investment. He’ll get one-on-one face time with plenty of powerful execs who have the capacity to take him up on that sales pitch: today’s itinerary includes meetings and other events with the CEOs of Thomson Reuters, ABB Group, UBS, Credit Suisse and BlackRock.

CARA TO BUY KEG RESTAURANTS

We've got breaking M&A news this morning, with Cara Operations announcing it's buying The Keg for $200 million in cash and stock. We await a news conference later this morning in Toronto, and hope to speak with Cara's CEO sometime today.

CANADA’S TRADE ARBITRAGE 

While Trudeau pitches the world on Canada, his NAFTA negotiating team will get down to business in Montreal. Meanwhile, momentum is building for the so-called TPP11, with Japan’s economy minister saying today the group of nations that are pursuing the pact without the Americans will hold a signing ceremony in March. Recall Canada added some friction to the process a little while ago when Trudeau balked at an apparent agreement reached at the APEC summit in November. Against all of that backdrop, the Globe is reporting Brian Mulroney will make the case for NAFTA before the U.S. Senate Foreign Relations Committee next week.

 

TSUNAMI WARNING LIFTED

Environment Canada has lifted a tsunami warning for British Columbia that was issued after a massive earthquake off Alaska’s south coast (which is being reported as anywhere from a magnitude 7.9 to 8.2) led to warnings and watches in B.C., Alaska, California, Oregon and Washington. BNN's Jameson Berkow will look into implications for resource projects – including how/if this could be taken up by Trans Mountain opponents.

NETFLIX BOOMING

There's no slowing Netflix these days, with the company's stock surging in pre-market trading - putting it on pace to notch a US$100-billion market capitalization. Fourth-quarter subscriber growth came in way ahead of expectations, prompting the company to ramp up its spending on original content to as much as US$8 billion this year. If there's a wrinkle in the latest quarter, check out the US$39-million charge on content the company decided "not to move forward with".

OTHER NOTABLE STORIES:

-Bell Media (BNN’s parent) is taking its argument against the CRTC’s simsub ruling to the Supreme Court, seeking a stay on the regulator’s decision that prevents Bell from swapping out U.S. ads during the Super Bowl.

-Tesla Motors has disclosed a new 10-year compensation plan for Elon Musk that tethers his earnings to the company's market capitalization. Full vesting is predicated on Musk's ability to build the company's market capitalization to US$650 billion (compared with US$59B at the close of trading yesterday) while hitting some profit and revenue benchmarks in the process.

-Restaurant Brands International has moved CFO Josh Kobza into the role of chief technology and development officer, with continued responsibility for developing the Tim Hortons, Burger King and Popeyes brands.

NOTABLE RELEASES/EVENTS

-Notable earnings: CN Rail, AGF Management, Procter & Gamble, Johnson & Johnson, Texas Instruments

-9:00 a.m. ET: Parliamentary Budget Officer releases reports “Economic and Fiscal Monitor – January 2018” and “PBO and Finance Canada Long-term Projection Comparison”

-NAFTA talks resume in Montreal (runs to Jan. 29)

-World Economic Forum annual meeting in Davos (Trudeau delivers speech on Canada’s G7 agenda at 11:30 a.m. ET).

-Financial Accountability Office of Ontario releases assessment of household debt burdens and financial vulnerability in the province

-B.C. Premier John Horgan in Asia (trip runs to Jan. 30, stops in China, South Korea, Japan)

Every morning BNN's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.