Noah Zivitz

Managing Editor, BNN Bloomberg

Archive

Uber’s new chief executive is doing clean up on a massive hack last year that exposed 57 million users’ data, including names, email addresses and phone numbers. “We took immediate steps to secure the data and shut down further unauthorized access by the individuals,” Khosrowshahi wrote in a blog post. “We subsequently identified the individuals and obtained assurances that the downloaded data had been destroyed.” Adding insult to injury, Uber reportedly paid the cyber raiders $100,000 to help conceal the breach. We’ll chase reaction to crisis control at Uber, and look into whether Canadian regulators are probing the breach and reported cover-up. We’ll also try to determine which cloud service provider Uber uses.   

NATIONAL HOUSING STRATEGY

Social Development Minister Jean-Yves Duclos will announce the Liberal government’s National Housing Strategy this afternoon. We already know some of what the NHS will comprise. The latest federal budget earmarked $11.2 billion over 11 years for housing investments, including $5 billion for a National Housing Fund to “better support vulnerable citizens.” And CMHC’s CEO discussed the merits of the NHS in a speech earlier this year. Meanwhile, the NHS isn’t expected to bring much relief for millennials and other first-time home buyers that dream about white picket fences in Toronto or Vancouver. More on that here. 

QUEBEC KEEPING CLOSE EYE ON HOUSING

Lost among among the headlines about tax relief, program spending and a balanced budget in Quebec, the province’s finance minister is reiterating he’s paying “close attention” to the real estate market, but there’s “no signs of a speculative market that would warrant Quebec government intervention.” The government also said it will make legislative changes to monitor property transactions involving foreign investors.

NAFTA ROUND WRAPS WITH A WHIMPER

A joint statement from the three NAFTA nations says “progress was made in a number of chapters” during the fifth round of negotiations in Mexico City. The standalone statement from U.S. Trade Representative Robert Lighthizer is far more ominous. “I remain concerned about the lack of headway. Thus far, we have seen no evidence that Canada or Mexico are willing to seriously engage on provisions that will lead to a rebalanced agreement,” he said. And with that, the dirty work gets punted to the next round, which is slated for January 23-28 in Montreal. In the depths of winter.

OTHER NOTABLE STORIES:

-The price of oil rose as high as US$57.98 per barrel in early trading after American Petroleum Institute data reportedly showed U.S. inventories fell by more than six million barrels last week. WTI futures haven’t traded above US$58 since July 1, 2015.

-BCE’s CEO told us the CRTC’s ban on simultaneous substitution in the Super Bowl remains a “hot button issue” for him and that he’s “hoping over time we’ll get in changed.” See the full interview here: 

-Health Canada revealed details of its regulatory plans for recreational cannabis, including packaging restrictions. The framework is now subject to public consultations until Jan. 20.

NOTABLE RELEASES/EVENTS

-Notable earnings: Metro, Deere & Co.

-Notable data: U.S. durable goods orders, U.S. consumer sentiment

~7:00 a.m. ET: World Bank releases report on evolution of Canada’s public pension plans 

-9:00 a.m. ET: CVCA releases third-quarter venture capital and private equity report

-11:00 a.m. ET: Alberta Premier Rachel Notley holds media call from Ottawa

-12:30 p.m. ET: Former BMO CEO Bill Downe among recipients at 2017 Philanthropy Award luncheon in Toronto

-2:00 p.m. ET: CMHC holds technical briefing on National Housing Strategy

-2:00 p.m. ET: U.S. Federal Reserve releases minutes from last meeting

-3:00 p.m. ET: Social Development Minister Jean-Yves Duclos announces Canada’s National Housing Strategy in Vancouver

-3:00 p.m. ET: Justin Trudeau makes announcement on housing alongside Mayor John Tory in Toronto, plus media avail

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.