Start your day off right with five things you need to know this morning.
Five things you need to know
Mark Carney has signed something he's calling a "Comprehensive Strategic Partnership" agreement with Japan that he claims will boost co-operation between the two countries on energy, trade, technology, defence and investment from pension funds. Carney, who delighted his hosts by saying a few words in Japanese, explained: “We do much, but we’re ready to do much more." One example, the prime minister's office said, could be Japan's involvement in training exercises in the Canadian Arctic.
Canada and Japan have signed a new strategic partnership agreement that aims to boost co-operation on defence, energy, trade and technology.#canada #japan #carney #trade #defencehttps://t.co/jZA0Ylfnyp
— 980 CJME (@CJMENews) March 6, 2026
RBC's CEO was paid $23.76 million last year, the bank has revealed. Dave McKay was handed the gigantic compensation package because RBC achieved record earnings, with total net income of $20.4 billion. The bank's directors, meanwhile, will also be getting a 22 per cent pay increase, bringing them up to $415,000 a year.
.@RBC nearly doubled CEO Dave McKay’s bonus following a year of record earnings. See how his total compensation stacks up against another big bank CEO.#CdnBanks #BankEarnings #ExecutivePayhttps://t.co/dPOE4ARoJs
— Canadian Mortgage Trends (@CdnMortgageNews) March 5, 2026
With the situation in the Middle East worsening day by day, countries around the world are starting to grow increasingly concerned about energy supplies. As prices increase, global leaders have been asking Canada if it can step in and fill the void left by absent Gulf suppliers. The answer, of course, is: no, not really, because Canada has for many years failed to build the infrastructure – pipelines, export facilities – necessary to sell its hydrocarbons overseas. Tristan Goodman, president and CEO of the Explorers and Producers Association of Canada (EPAC), told CBC News: "Can [Canada] in any way contribute in a large or significantly meaningful way to what is being lost? The answer is no, it cannot today." In which case, where could the world source its energy during this crisis? Some experts think Russia.
With a crucial oil artery blocked near Iran, can Canada fill the gap in global supply?
by u/Immediate-Link490 in canada
Right on cue, meanwhile, Canadian Natural Resources Ltd – the largest producer of heavy oil in Canada – has paused the planned $8.25 billion expansion at its Jackpine oilsands mine in Alberta, blaming the carbon tax and uncertainty over government policies. The project was expected to boost the company's production by 150,000 barrels a day. But the firm's president, Scott Stauth, said on Thursday that it was being shelved "due to lack of finalization of government regulatory policies around carbon pricing and methane, which creates uncertainty and economic burden for our long-term growth.” He said the company will wait until the Liberal government in Ottawa works out new rules with Danielle Smith's government in Edmonton before deciding whether the project is economically viable. He also called for the industrial carbon tax to be scrapped.
Canadian Natural pauses $8.25-billion oil-sands expansion, citing carbon policy uncertainty https://t.co/XUx6qpwYWs
— The Globe and Mail (@globeandmail) March 5, 2026
Not to worry, however, because a plurality of Canadians polled by Abacus Data has a solid plan: joining the European Union. The pollster found that 48 per cent of Canadians support the idea of Canada joining the European economic and political bloc, while just 28 per cent oppose it. Among those who back the Liberal government, meanwhile, 63 per cent said they'd like Canada to join the EU.
