Canadian Prime Minister Justin Trudeau on Monday accused conservative politicians of stoking fear that COVID-19 vaccine mandates for cross-border truck drivers are exacerbating supply chain disruptions and fueling inflation, Reuters reported. The United States imposed a mandate, meant to aid the fight against the fast spreading Omicron variant of the coronavirus, on Jan. 22, while Canada's started on Jan. 15. The trucking industry has warned the measure will take thousands of drivers off the roads during what is already a dire labor shortage in the industry.

Brazilian power company Companhia Energetica de Sao Paulo (CESP) on Monday said its board of directors has approved terms of a deal with conglomerate Votorantim SA and Canada Pension Plan Investments Board (CPPIB) to merge the trio's energy assets in Brazil, Reuters reported. CESP is expected to become a full subsidiary of Votorantim and CPPI's joint venture VTRM Energia once the deal is closed. The terms of the transaction, which valued CESP at about 9.1 billion reais ($1.67 billion), were disclosed this month. The company has also scheduled a shareholder meeting for Feb.

Applications to Laurentian University from Ontario high school students were down 43.5 per cent this year, compared to the same period in 2021, CBC.ca reported. The Ontario Universities' Application Centre reported the university received 2,791 applications from Ontario high school students in January 2022 to start their studies in the fall. In January 2021, 4,942 high school students from Ontario applied to Laurentian. North Bay's Nipissing University saw a small 0.2 per cent increase in Ontario high school applicants in January 2022, while Sault Ste.

If Laurentian University is required to submit privileged information to Ontario's Legislative Assembly, it would cause "irreparable harm," argue legal counsel for the Sudbury university, CBC.ca reported. During court proceedings Tuesday, Laurentian's lawyers asked Chief Justice Geoffrey Morawetz of the Superior Court of Justice to stay the execution of a Speaker's warrant against the institution. The Ontario Legislature voted unanimously on Dec. 9 to issue a Speaker's warrant that would compel Laurentian to provide the province with privileged documents related to its insolvency.

Canadian businesses reported widespread challenges with supply chains, labor shortages and their ability to meet strong demand in a Bank of Canada survey that will stoke worries about inflation and fuel expectations of a rate hike as early as next week, Bloomberg News reported. The central bank’s quarterly survey of executives paints a picture of an economy pressed up against its limits. Over two-thirds of respondents expect annual consumer price gains to surpass 3% over the next two years.

COVID-19 vaccine requirements for foreign truckers at the U.S.-Canada border still could cause supply-chain disruptions if both countries do not decide to allow exemptions, the head of the Canadian Trucking Alliance (CTA) said on Thursday, Reuters reported. Late on Wednesday, Canada dropped a vaccine mandate for Canadian truckers returning home from the United States that was supposed to kick in on Saturday, but unvaccinated non-Canadians will still be turned back at the border.

Royal Bank of Canada, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC) on Monday maintained their forecasts for growth in expenses this year despite expectations that inflation will remain elevated, Reuters reported. CIBC, Canada's No. 5 bank, said last month it expects mid-single-digit expense growth in fiscal 2022, after reporting a 13% increase in the fourth quarter, the highest in the industry.

Lawyers for insolvent Laurentian University continue to defend against a Speaker's warrant issued by the Ontario Legislature that aims to force the Sudbury school to give up privileged information to the auditor general, CBC.ca reported. A legislative committee tasked Bonnie Lysyk with a special audit last spring to look into how the university became insolvent.

CannTrust Holdings Inc., the troubled Canadian cannabis producer whose former executives have been charged with fraud, is preparing to wind down if it can’t find a way to fix a default by the end of the month, Bloomberg News reported. The Vaughan, Ontario-based company breached a minimum earnings covenant on its C$22.5 million ($17.7 million) bankruptcy loan, and is currently in negotiations with potential investors and strategic partners over ways to address the default and its liquidity shortfall, according to a Thursday statement.