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Potential contenders to replace Trudeau as Canadian prime minister
By David Ljunggren
OTTAWA (Reuters) – Canada’s ruling Liberal Party is looking for a new leader to replace Prime Minister Justin Trudeau, who announced on Monday he intended to step down.
The party has not released details on the leadership contest, which would typically take months.
Finance Minister Dominic LeBlanc said on Wednesday that he would not be running.
Here are some of the remaining top potential contenders.
FORMER FINANCE MINISTER CHRYSTIA FREELAND
Freeland, 56, was one of Trudeau’s closest allies during his nine years in power and had been serving as finance minister when she unexpectedly resigned last month after an argument over spending and penned a letter attacking the prime minister’s leadership and his love of “political gimmicks”.
Freeland, the most high-profile member of the government after Trudeau, had been finance minister since August 2020 and helped craft the government’s multi-billion dollar social spending program to help fight the COVID pandemic.
She had previously been foreign minister and led the Canadian team that successfully renegotiated a trilateral trade deal with the United States and Mexico after then-president Donald Trump threatened to tear up the agreement.
She joined the government in November 2015, first serving as trade minister. Before entering politics in 2013, Freeland worked as a journalist and in senior editorial roles with several media companies, including the Financial Times, the Globe and Mail, and Reuters where she worked from 2010 to 2013. She has also written two books.
FORMER BANK OF CANADA GOVERNOR MARK CARNEY
Carney, 59, is the only major candidate who is not part of the Trudeau government. Carney’s name has been circulating for years as a potential Liberal leader, largely thanks to his financial credentials. Carney said in a statement on Monday that he would be considering whether to run over the next few days.
He worked for Goldman Sachs before joining the Canadian finance ministry in 2004. He was named Bank of Canada governor in 2007 and quickly had to deal with the after-effects of the global crisis in 2008. In 2013 he took over as governor of the Bank of England, becoming the first person to ever head two major central banks.
Carney forecast the economic damage that would result if Britain left the European Union, prompting attacks from pro-Brexit advocates. After leaving the bank in 2020, he was appointed United Nations special envoy for climate action and finance. He is currently vice chairman at Brookfield Asset Management (TSX:).
FOREIGN MINISTER MELANIE JOLY
Joly, 45, is the most high-profile female member of cabinet now that Freeland is gone. She rose to prominence in 2013 when she ran for the post of Montreal mayor as an outsider, unexpectedly finishing in second place. Trudeau named her heritage minister in 2015 but after missteps in her home province of Quebec, she was demoted to the post of tourism minister in 2018. She returned to the spotlight in 2021 as foreign minister. Along with Freeland, she helped craft Canada’s strongly pro-Ukraine line after the Russia’s invasion in 2022, and also oversaw the launch of the government’s long-awaited policy on the Indo-Pacific region later that year.
INNOVATION MINISTER FRANCOIS-PHILIPPE CHAMPAGNE
Champagne, 54, is a trusted pair of hands who worked as a lawyer and a businessman before joining the government in 2015. Known for his ebullient manner and perpetual good humor, he served variously as minister of trade, infrastructure and foreign affairs before taking over his current role in January 2021. As innovation minister, Champagne led the effort to attract billions of dollars in foreign investment into the electric vehicle and auto battery sector. The effort has recently faltered in many parts of the world including Canada.
TRANSPORT MINISTER ANITA ANAND
Anand, 57, is a former law professor who entered parliament in November 2019 and became procurement minister. When the COVID pandemic struck in 2020 she led the effort to obtain supplies of personal protective equipment and tests at a time of enormous demand, and also pushed for vaccine deals. The endeavor was largely successful and in October 2021 Trudeau named her to the more high-profile role of defense minister, charged with trying to stamp out a culture in the military of what the government has acknowledged is sexual abuse. In July 2023 she was named head of the Treasury Board, which has overall control of government spending, and in September 2024 was also asked to be transport minister after her predecessor quit. Last month she was named minister of transport on a permanent basis.
Other possible contenders mentioned in the domestic media include current Natural Resources Minister Jonathan Wilkinson, 59, House leader Karina Gould, 37, and former British Columbia premier Christy Clark, 59.
Constellation Energy (NASDAQ:) Corp. is on the verge of acquiring Calpine Corp., a move that could mark one of the most significant transactions in the power generation industry, Bloomberg reported on Wednesday.
Baltimore-based Constellation is negotiating with Calpine’s private equity owners to finalize the terms of a deal that could place the value of Calpine at approximately $30 billion, including the assumption of debt, the report said, citing people familiar with the matter.
The potential acquisition, which could be announced within the next few weeks, is still subject to ongoing deliberations, report added.
Constellation’s interest in Calpine underscores the strategic moves within the power sector as companies seek to consolidate and expand their market presence.
While the exact terms of the deal are still being discussed, the acquisition’s completion would likely have considerable implications for both Constellation and the wider power generation sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By John Irish and Alexander Ratz
PARIS/BERLIN (Reuters) -European Union sanctions in Syria that obstruct the delivery of humanitarian aid and hinder the country’s recovery could be lifted swiftly, France’s foreign minister said Wednesday.
The United States on Monday issued a sanctions exemption for transactions with governing institutions in Syria for six months after the end of Bashar al-Assad’s rule to try to ease the flow of humanitarian assistance.
Speaking to France Inter radio, Foreign Minister Jean-Noel Barrot said the EU could take a similar decision soon without giving precise timing, while adding that lifting more political sanctions would depend on how Syria’s new leadership handled the transition.
“There are other (sanctions), which today hinder access to humanitarian aid, which hinder the recovery of the country. These could be lifted quickly,” said Barrot, who met Syria’s de facto leader Ahmed al-Sharaa on Friday with Germany’s foreign minister.
“Finally, there are other sanctions, which we are discussing with our European partners, which could be lifted, but obviously depending on the pace at which our expectations for Syria regarding women and security are taken into account.”
Three European diplomats speaking on condition of anonymity said the EU would seek to agree to lift some sanctions by the time the bloc’s 27 foreign ministers meet in Brussels on Jan. 27.
Two of the diplomats said one aim was to facilitate financial transactions to allow funds to return to the country, ease air transport and lessen sanctions targeting the energy sector to improve power supplies. A third said Germany had put forward a position paper on the potential sanctions to be lifted.
“Due to the new situation, existing sanctions are under scrutiny. Germany has already pitched ideas on this issue,” German foreign ministry spokesperson Christian Wagner said on Wednesday.
“The focus lies on economic questions and return of funds of the Syrian diaspora,” he said.
Syria suffers from severe power shortages, with state-supplied electricity available two or three hours per day in most areas. The caretaker government says it aims to provide electricity for up to eight hours per day within two months.
The U.S. waivers allow some energy transactions and personal remittances to Syria until July 7, but do not remove any sanctions.
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday that Nippon Steel’s blocked acquisition of U.S. Steel received a “thorough analysis” by an interagency national security review body that was sent to President Joe Biden.
Yellen, in a live interview on CNBC, said she could not discuss specifics of the review of the merger blocked by Biden last week that is now the subject of a lawsuit that alleges that the review by the Committee on Foreign Investment in the United States (CFIUS) was not conducted in good faith and was prejudiced by Biden.
“I think, as you know, there is ongoing litigation over this case, and as head of CFIUS, I regret there is very little substantive that I can say to you about this,” Yellen said. “Other than that, CFIUS did analyze the specifics, as it always does of this situation, and prepared a thorough analysis to go to the president.”
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