Ottawa’s federal budget bets, one of Canada’s largest tech takeovers and Florida’s property tax vote vs. snowbirds: Must-read business and investing stories for the week of Nov. 7

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.

Ottawa bets spending boost will deliver future economic gains

In the 2026 federal budget, Ottawa is taking a bet that a spending boost will deliver future economic gains. Through tax cuts and other business supports, the budget aims to boost private-sector investment and major nation-building projects, including doubling the capacity of Canada’s energy grid.

Finance Minister François-Philippe Champagne’s 2026 budget outlines $151.5-billion in new spending over five years compared with the spring economic update. It reveals a major revenue windfall driven largely by soaring global oil prices. The government plans to spend nearly all of it, leaving its bottom line largely unchanged with a deficit of $62.3-billion in 2026-27 and projected annual deficits in the $50-billion to $60-billion range over the next five years.

Here are the top highlights from our reporters, alongside charts to help visualize the spending, the debt and everything in between: including new immigration plans, an ease in defence spending, new housing policies and changes to boost competition in the banking sector. Plus, how will Ottawa’s plan affect your wallet? From a new tax deadline and a rethinking of registered retirement savings plans, here are six ways.

What role did the Canada-U.S. trade war play in some key midterm races?

The Democratic Party won back control of the U.S. House of Representatives and the Senate after voters in midterm elections vented their anger at President Donald Trump over high prices driven by his war on Iran and tariffs on nearly every country in the world, including Canada.

Tuesday’s midterm election results placed another spotlight on the trade war with Canada. Five of the states that were up for grabs in the Senate – Michigan, Maine, Ohio, Texas and Kansas – all trade billions annually in goods and services with Canada.

Business reporter Joy SpearChief-Morris asks: What role did the trade war with Canada play in some races? She takes a look at how tariffs are affecting some of the states most vulnerable to trade relations.

Canadian snowbirds miss out on Florida’s biggest tax cuts

In Tuesday’s U.S. midterm elections, Florida residents voted to pass major property tax cuts that may shift more of the burden onto Canadian snowbirds who own property in the state. By a 62-per-cent majority, Floridians approved a sweeping state constitutional amendment that will give property-tax relief to state residents who use their Florida property as their primary residence.

Most Canadian snowbirds who own property in the state – typically second homes – won’t qualify for the exemptions. Instead, these non-residents would be required to pay full freight on the assessed value of their homes, making up the difference as the higher homestead benefits take effect.

There is a small silver lining in the amendment: Starting in 2027, the maximum annual tax on properties that aren’t primary residences will fall from 10 per cent to 5 per cent, which could slow future property tax increases for Canadian owners. But experts say it doesn’t outweigh the other expenses associated with owning a vacation home in Florida, including high insurance premiums, condo fees and the weak Canadian dollar.

AMD to pay $2.9-billion for AI chip firm Taalas in one of the largest Canadian tech takeovers

In one of the largest acquisitions in Canadian technology history, U.S.-based Advanced Micro Devices Inc. announced this week that it will pay about US$2.9-billion for Toronto-based semiconductor startup Taalas Inc.

AMD’s acquisition of Taalas is the largest known transaction involving a Canadian technology company since Ecolab Inc. of St. Paul, Minn., agreed to acquire Calgary-based CoolIT Systems for US$4.75-billion in March.

AMD announced the deal in August, and in a securities filing Wednesday it disclosed the price of the cash-and-stock acquisition. It said US$1.4-billion of the purchase amount is dependent on unspecified conditions. The deal has yet to close and is subject to regulatory approval and other conditions.

Taalas develops specialized semiconductor chips that can run the large language models (LLMs) used in artificial-intelligence systems. It was founded just three years ago.

A data centre developer wanted to buy their Alberta farm. They said no

Creig Antliff, a 75-year-old farmer, and his wife, Jeannie, live on an organic farm in a rural community about 30 minutes outside downtown Calgary.

He was eating lunch at his kitchen table when a shiny black SUV rolled up his driveway on a sunny Saturday morning in May. He’d been expecting to hear from some out-of-town businessmen.

The visitors were from Beacon Data Centers Inc., and they’d come to discuss their plans for a natural gas plant nearby. The 1,494-megawatt project would create enough power to fuel a city the size of Edmonton. Its purpose: to power a neighbouring hyperscale data centre used for artificial intelligence.

The visitors started talking about the benefits of the project. Then, the conversation quickly turned to Beacon’s true objectives for the visit, Mr. Antliff said. They wanted to buy their land. But the Antliffs were not easy to convince.

Landowners such as the Antliffs are being caught up in a race to capitalize on demand for data centres in Alberta, as the world’s technology giants drive a global gold rush. Alberta is determined be a top location for these massive investments as the centres. Kate Helmore, Mariya Postelnyak, Joe Castaldo and Emma Graney report on the speed of data centre development in Alberta and growing calls from communities to slam the brakes.

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