Canadian banks beat analysts’ expectations, takeaways from a tariff counterpunch and a New Brunswick site picked for new explosives factory: Must-read business and investing stories for the week of Aug. 29

Getting caught up on a week that got away? Here’s your weekly digest of The Globe’s most essential business and investing stories, with insights and analysis on the biggest headlines, stock tips, personal finance strategies and more.

Four takeaways from Canada’s tariff counterpunch in place

Following the dramatic collapse of trade talks with the United States last week, the Canadian government has unveiled the list of American products Canada will target with retaliatory tariffs as of Sept. 8.

The countertariffs, aimed at close to 900 items, run the gamut from fishing rods to industrial equipment and cover roughly $28-billion worth of goods.

Jason Kirby and Dexter McMillan break down the main takeaways from Canada’s countertariffs, including what they could mean for consumer purchases, and the share of each U.S. state’s exports to Canada subject to the retaliatory tariffs.

A breakdown of the big banks’ third-quarter earnings

Canada’s biggest banks reported their third-quarter earnings this week, covering the three months that ended July 31, and all beat analysts’ expectations.

Canadian bank stocks have surged 24 per cent this year in the lead-up to posting third-quarter results as the lenders withstood mounting concerns over trade uncertainty and geopolitical tensions.

We compiled a breakdown of all the third-quarter earnings, including the banks’ adjusted EPS and dividends.

New Brunswick site picked for new Canadian explosives factory as NATO demand grows

A new Canadian company led by former Quebec MP Patrick Gagnon has picked New Brunswick for an explosives plant that will help put Canada back on the munitions map as demand for artillery shells soars.

The New Brunswick government has provided Mr. Gagnon’s private company, Nalagx Corp., with a commitment letter to provide 1,500 acres of largely empty Crown land in Belledune, on the Baie des Chaleurs in the province’s north, for the factory.

The selection follows a year-long process that saw several provinces make pitches for the project, whose value could reach about $2-billion over time as the product line is expanded and extra fabrication modules are built.

Mr. Gagnon and his business partner, Jared Mintz, devised the idea in 2025 to build an energetics factory. Their analysis determined that they would find a ready market in many NATO countries, most of which face severe shortages of munitions such as the 155mm artillery shells used by Ukraine against Russia.

Canadian securities regulators decline to oversee sports, entertainment contracts for prediction markets

Canada’s securities and investment industry regulators are declining to oversee sports and entertainment bets on prediction markets, saying those trades don’t belong under securities law and won’t be offered through regulated investment platforms.

In a joint statement, the Canadian Securities Administrators said that bets relating to sports and entertainment events should not be regulated under securities and derivatives legislation, while the Canadian Investment Regulatory Organization said it doesn’t consider it appropriate to approve or facilitate an application by its dealer members to trade those types of contracts.

The guidance brings some clarity to a question that has been hotly debated in Canadian legal and financial circles: whether sports and entertainment prediction contracts should be regulated by securities regulators or gaming commissions. It remains unclear whether such types of prediction bets could still be made available in Canada by other means.

Young Canadians are borrowing to pay for cosmetic surgeries. Here’s what it costs

Interested in a tummy tuck or liposuction? Be warned: These surgeries cost thousands of dollars (the former averaging between $10,000 to $15,000, the latter $6,000 to $12,000) and are rarely covered by provincial health care.

But the demand in Canada is there, with esthetic surgery procedures generating revenue of $4.4-billion in 2023. And while you can pay for a procedure with a bank loan or a credit card, some predominantly younger clients are turning to alternative financing companies that offer up to $50,000. They provide quick and easy access to money, while traditional bank loans can be harder to secure.

The trade-off is the cost. An alternative cosmetic and medical lender will charge anywhere from 10 to 29.99 per cent annual percentage rate, depending on the borrower’s credit profile.

Prepare for the week ahead with The Globe’s investing calendar.