Here are five things you need to know this morning
Gold and silver suffers biggest sell-off in years: Gold dropped as much as eight per cent to crash through $5,000 an ounce, while silver slumped below US$100 as the sell-off swept through the broader metals markets. Copper dropped more than three per cent in London, after surging above $14,000 a ton for the first time on Thursday, in its biggest intraday jump since 2008. The selloff came as the dollar rebounded after a report the Trump administration is preparing to nominate Kevin Warsh for Federal Reserve chair. The greenback’s rally undercut sentiment among investors who had been piling into metals after the president signaled a willingness to let the currency weaken. Chinese investors have led the charge, buying in such force that it prompted the Shanghai Futures Exchange to rush out measures to cool the surge in precious and industrial metal markets.
Bombardier responds to Trump’s threat: On Thursday, U.S. President Trump announced he was revoking certification for all aircraft manufactured in Canada including Bombardier’s Global Express business jet and warned of a 50 per cent tariff on Canadian aircraft until U.S.-made Gulfstream jets are are certified in Canada. Bombardier responded with this statement: “We have taken note of the post from the President of the United States to social media and are in contact with the Canadian government. Bombardier is an international company that employs more than 3,000 people in the U.S. across 9 major facilities, and creates thousands of U.S. jobs through 2,800 suppliers. Our aircraft, facilities and technicians are fully certified to FAA standards and renowned around the world. We are actively investing in expanding our U.S. operations, including a recent announcement in Fort Wayne, Indiana. Thousands of private and civilian jets built in Canada fly in the U.S. every day. We hope this is quickly resolved to avoid a significant impact to air traffic and the flying public.”
Ontario hoping to do more business in Dubai: Ontario’s Minister of Agriculture met with Dubai Chambers Jan. 30, to discuss enhancing bilateral cooperation in food technology, agriculture and import-export trade. Non-oil trade between Dubai and Canada reached AED10.2bn ($2.78bn) in 2024. With 1,042 new Canadian companies joining Dubai Chamber of Commerce membership in 2025, the total number of active Canadian companies registered reached 4,673 by the end of last year. Dubai Global Chamber opened a representative office in Toronto, Ontario’s capital, last year to support companies in both Dubai and Canada and promote Dubai’s competitive advantages as a global business destination.
Ryan Reynolds caught up in collapse of British financial company: The Canadian movie star’s Welsh soccer team, Wrexham AFC, that he co-owns with Rob McElhenney and backed by Apollo Global Management Inc., has been caught up in the collapse of UK currency brokerage Argentex. The club had placed £4.6 million ($8.5 million) with the London firm, which collapsed into a form of insolvency in July as a result of soured foreign-exchange trades, according to documents filed in the UK. The involvement of the club adds to the far-reaching nature of Argentex’s collapse. The firm’s unraveling, caused by a portfolio of high-risk US dollar trades imploding in April, tied up thousands of derivatives transactions. While administrators overseeing the wind-down are confident that customers in Wrexham’s category will be repaid, others may not be so fortunate, filings show.
Tech deals still exist when you dig deeper: Tech stocks have surged, making true bargains harder to find. But Evercore’s Mark Mahaney says value still exists for investors willing to dig deeper. In the latest episode of Ticker Take with Jon Erlichman, Mahaney explained why Amazon, Expedia, and DoorDash stand out as reasonably valued internet stocks in an otherwise pricey market.
