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The sudden resignation of Justin Trudeau’s finance minister threw his leadership into doubt and his minority government into chaos Monday after Chrystia Freeland quit just hours before she was set to deliver a key fiscal update in the House of Commons. Instead, Freeland’s stunning resignation, her revelations that Trudeau wanted to yank her from the finance portfolio, that she and Trudeau had argued for weeks over “political gimmicks” in the fall economic update, and clashed over how best to ready Canada for the Trump administration’s threatened tariff war set the stage for a day of intense political drama on Parliament Hill. It stunned her cabinet and caucus colleagues and caused chaos among the Liberal ranks, with some like Liberal MP Chad Collins publicly urging Trudeau to resign for the first time. “It’s obvious that Canadians across the country feel the same and want him to leave,” he said. Freeland dropped the announcement on “X” — formerly Twitter — via a missive just as Housing Minister Sean Fraser announced he was quitting for “family reasons,” he said. It took him, too, by surprise. Finance officials had almost no notice of their minister’s plans which immediately threw the launch of the fall fiscal economic statement into disarray. The prime minister huddled with his top officials and cabinet ministers all morning. By midday, it was not clear whether the prime minister would address Canadians, or would have some other minister step in to deliver the speech about the fall statement after markets close at 4 p.m. In the end, House Leader Karina Gould presented the document in the Commons, as Public Safety Minister Dominic LeBlanc was being sworn in as the new finance minister at Rideau Hall. Immediately upon Freeland’s news, the Toronto stock exchange and the Canadian dollar dipped and hadn’t recovered by end of day before the fiscal update landed. When the document was finally tabled, it revealed a whopping $61.9 billion deficit for last year and an unfunded promise to deliver $250 cheques to Canadians. LeBlanc told reporters he was asked to take the role by Trudeau this afternoon, and dismissed questions about the prime minister’s leadership. Tasked with preparing the 2025 budget, the minister said the Trudeau government’s focus is on working on the issues that matter to Canadians. “My conversation with the prime minister today was entirely focused on the work that we want to do to support Canadians around affordability, obviously the threat of tariffs coming from an incoming administration, and what we need to do to protect the Canadian economy,” he told reporters. Freeland and Fraser’s departures from Justin Trudeau’s cabinet are a blow to the Liberal government and sowed more confusion in an unstable minority Parliament and reignited questions about the prime minister’s political future. Several of his most loyal ministers left cabinet without taking any questions. An emergency Liberal caucus meeting was to be held at 5 p.m. Freeland’s statement said Trudeau told her Friday he no longer wants her to serve as finance minister and offered her another unspecified position in cabinet, signalling she no longer had his confidence and leading to her resignation. Freeland, who was in Ottawa on Monday, said she intends to remain sitting as an MP and to contest her seat in the next election. The prospect of a snap election — which the Conservatives called for — could not be ruled out, given the explosive reaction to Freeland’s exit. The NDP, which has propped up the Trudeau minority government, did not pronounce on what comes next, only issuing a statement that accused the Liberals of being obsessed with infighting. “For the past number of weeks, you and I have found ourselves at odds about the best path forward for Canada,” Freeland said, adding that Canadians “know when we are working for them,” and “when we are focused on ourselves.” Citing the looming threat of U.S. president-elect Donald Trump’s promised tariffs, she said Canada faces a “grave challenge” from his policy of “economic nationalism” that requires fiscal discipline instead of “political gimmicks.” “That means keeping our fiscal powder dry today, so we have the reserves we may need for a coming tariff war. That means eschewing costly political gimmicks we can ill afford and which make Canadians doubt that we recognize the gravity of the moment.” The Trudeau government’s fall fiscal update — which was expected to unveil more than $1 billion in border security measures — comes amid heavy scrutiny over the federal government’s spending and its inability to stick to its own fiscal “guardrails” — the self-imposed spending guidelines Freeland had once set. The Trudeau government has been scrambling for three weeks to allay fears of tariff threats from the incoming Trump administration, and has promised to spend more on helicopters, drones, surveillance technology and manpower at the border. Freeland was offered a ministerial role to deal with Canada-U.S. relations, but the position would have given her none of the tools she had when she renegotiated NAFTA with the previous Trump administration, according to a senior Liberal source. Ministers emerged grim-faced from the cabinet meeting with most offering no comment. Some gamely asserted they continue to have confidence in the government and said Canadians should too. Industry Minister François-Philippe Champagne told reporters “it is a serious moment” for the government. Asked if he still has confidence in the prime minister, Champagne said “the moment now is for us to focus on the best interest of Canadians, that’s what we’re doing.” Only a few others offered kind words about Freeland, with Fraser, who said he intends to step down on Monday due to family reasons, and Labour Minister Steve MacKinnon describing her as a respected friend. Before the meeting, just minutes after Freeland’s letter was put out, Treasury Board President and Transport Minister Anita Anand appeared on the verge of tears when asked to comment. “I’ll just say that Chrystia Freeland is a good friend, someone I work with very closely,” Anand said. “This news has hit me really hard, and I’ll reserve further comment until I have time to process it.” See my letter to the Prime Minister below // Veuillez trouver ma lettre au Premier ministre ci-dessous pic.twitter.com/NMMMcXUh7A But among the Liberal ranks, calls for Trudeau to resign resurfaced. Wayne Long, one of the MPs who has called on Trudeau to resign before, told the Star he hopes the resignation “opens the door to some cabinet ministers speaking up.” “How much more can the PM endure before doing the right thing and stepping down?” he said. Several Liberal MPs, speaking to the Star on the condition they not be named, expressed surprise and disappointment at the news, with one characterizing Freeland’s departure as a “devastating blow” for Trudeau, who earlier this fall survived a challenge from dozens of MPs who called for his resignation. Two other MPs who have not previously called on Trudeau to resign, said now is the time for him to go. One told the Star the best course for the Liberals now is for Trudeau to step down and then table a new throne speech under a new prime minister for a fresh start ahead of the next federal election. The other said it was understandable that Freeland would walk away, in light of how the Liberals are struggling and that their predicament is mainly because of Trudeau. The Star reported this summer that some Liberal MPs wanted Freeland out of cabinet. Freeland has long been rumoured to be a potential successor to Trudeau. Meanwhile, Trudeau’s political opponents in Parliament pounced on the shock resignation, with Conservative Leader Pierre Poilievre saying it is evidence that the “government of Canada itself is spiralling out of control.” He said it is now up to NDP Leader Jagmeet Singh to decide whether or not the government falls — and when. While Singh exited his parliamentary accord with the minority Liberals in September, his party has yet to declare a loss of confidence in the Trudeau government. Singh, for the first time, demanded Trudeau resign on Monday, but refused to say if he was prepared to help bring down the government. “All tools, all options are on the table. People are hurting, people are struggling, and so all options are on the table,” the NDP leader said. In Montreal, Bloc Québécois Leader Yves-François Blanchet declared the days of the Trudeau government were “over” and called for the prime minister to ask the Governor General to dissolve Parliament by the start of the new year. The chaos extended into question period in the House of Commons, where the Conservatives taunted the Liberals and Poilievre repeatedly asked “who is the Finance Minister?” In Toronto, asked if the premiers were concerned about Freeland’s stunning resignation Monday, Ontario Premier Doug Ford said: “We all are.” Ford, chair of the Council of the Federation, emphasized “this is a time for the premiers to step up, which we’re going to, and project unity across the country.” Fraser, in his own resignation press conference, said he only learned of Freeland stepping down following a reporter’s question. “This is news for me,” he said in French. The Nova Scotia MP, who held the immigration file before moving to housing, said he was not seeking re-election due to family reasons, but described his time in government as “the best job I can imagine having.” He said he made his decision earlier this fall following a surgery. “Our path to creating a family was a challenging one. We’ve experienced the highest of highs and the lowest of lows when it comes to our kids. We have had micro-preemies, lengthy hospitalizations, medical interventions, and know the pain of losing our one-day-old daughter, Ruth, who I miss every day and who I love very much,” he said. Freeland and Fraser’s resignations come as Trudeau prepares to shake up his cabinet after several ministers announced they won’t be seeking re-election this fall. Their resignations make it nine ministers in Trudeau’s cabinet who have stepped down or announced their intention to step down in recent months. The Trudeau government is also facing a byelection in B.C. Monday night where polls suggest they will lose the seat they previously held. With files from Robert Benzie.

A rash of bad third-quarter results from key listed companies hit the Stock Exchange of Thailand (SET) in November, leading to relatively subdued trading activity during the month. External factors also loomed large. The US presidential election affected the SET significantly for the first two weeks of November, and we saw foreign fund outflows that continued through the rest of the month. With Donald Trump winning, investors expect the US economy to strengthen, with all roads pointed towards the US bourses. However, enthusiasm seemed to fade in the second half of the month. SET fundamentals were actually weak in November, but brisk trade in the large-cap Delta Electronics Plc kept the index from falling too much. In fact, every 1-baht change in the DELTA share price was roughly equivalent to a 1-point index change. DELTA shares were supporting the SET until the last week of November, when the stock was placed on a trading alert list and subsequently fell 28 points in one day, pushing the main gauge down 22 points. The Thai market continued to weaken, hitting its low for the month at 1,421.96 points before clawing back to end the month at 1,427.54, down 2.6% from a month earlier. Average daily turnover was 43.1 billion baht, down by 19.6%. Foreign net selling for November was 13.7 billion baht, compared with net buying from local institutions of 3.8 billion baht and retail investors of 8.5 billion baht. Vayupak Fund activities also appear to have pulled back in November. Trump Trade 2.0 has been the talk of analysts since his election win. Both corporate and personal income tax are expected to be reduced, with import tariff hikes specifically for products from China, Mexico and Canada. These increases are expected to lift inflation in the long term and mean the Fed may not be able to decrease interest rates as much as previously expected. The US 10-year bond yield surged to almost 4.5% in early November, while US stock markets reached new highs in the immediate aftermath of the election. Other than the Trump victory, the other big factor influencing the SET in November was the third-quarter results of listed companies. They were mostly negative, with less than 30% of the results beating market expectations. Roughly 30% of the results were in line with forecasts, while more than 40% missed market expectations. This worsened SET sentiment, signalling downward revisions in market earnings forecasts for this year and next. Thus far in December, negative sentiment has continued to pressure the SET. However, we believe investments from tax-saving Thai ESG funds could act as a saviour for the SET at the end of the year. The tax allowance was raised to 300,000 baht and the holding period reduced to five years, seeking to entice investors to buy TESG funds, similar to tactics for long-term investment funds in the past. Net buying of shares by local institutions has picked up in early December and we believe these to be from TESG funds. DECEMBER PICKS Our investment theme this month focuses on companies that could be targeted by TESG funds and should benefit from the festive season, namely Airports of Thailand (AOT), the IT retailer COM7, 7-Eleven operator CPALL, and Siam Commercial Bank (SCB). In the transport space, AOT will enjoy a boost from the tourism high season. In 2025, we expect the number of tourists to grow 14%, while management conservatively projects revenue growth of 10%. AOT's expansion plan is on track and should increase capacity at its six airports to 70 million passengers, up from 60 million currently. We appreciate that as the expansion will happen gradually, capital expenditure should also be booked gradually, rather than in big chunks. With an ESG rating of A and CG rating of 5, we believe AOT will be targeted by TESG funds. The IT retailer COM7 is enjoying its quarterly peak for the year. While its third-quarter net profit of 709 million baht was 10% below our expectations, the launch of the new iPhone 16 has been a hit and that revenue will be fully recognised in the fourth quarter. The company also started a new business line -- solar cells -- and is expecting to enter the SET50 index starting next year. The convenience store giant CPALL continues to be a top pick. We remain focused on domestic retail and expect the company to benefit from a buoyant tourism industry. Moreover, we believe CPALL will benefit from the next round of the government's 10,000-baht handout at the beginning of 2025. Ready-to-eat products continue to be outperformers, offering higher margins. With an ESG rating of AAA and CG rating of 5, CPALL should be another target for TESG funds. Lastly, we like SCB, one of the few banks to report better than expected third-quarter earnings (10.9 billion baht, up 13% year-on-year and 9% quarter-on-quarter). SCB is preparing for lower interest rates; management expects every 1% decline in the policy rate to impact its net interest margin (NIM) by 25-30 basis points for both loans and savings. As SCB expects rates to fall by 50bps, the downside to its NIM should be only 12-15bps. With a yield of 9% per year, SCB's high dividend payout is one of its key selling points.

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Senator Eric Schmitt, R-Mo, joins 'Faulkner Focus' to discuss Biden's decision to commute death sentences of 37 inmates and considering extending migrant protections. Social media erupted on Monday after President Biden announced he would commute the sentences of nearly all the inmates on federal death row. Of the 40 inmates on federal death row, according to DeathPenaltyInfo.org, Biden is commuting 37 individuals sentenced to death, reclassifying their sentences to life without the possibility of parole. "Why did Biden commute the sentences of m*rderers and r*pists? Why?" Florida's Voice assistant news director Eric Daugherty asked on X . "Typical of whoever is actually president right now, the alleged Biden administration decided that the death penalty is immoral except when it's not. He didn't commute all the sentences but instead leaves a few leftist killer favorites standing. What a disgrace," Townhall senior columnist Kurt Schlicter tweeted . BIDEN SETS RECORD WITH FIRST-TERM CLEMENCY GRANTS, HERE'S HOW OTHER PRESIDENTS RANK Social media erupted on Monday after President Biden announced he would commute the sentences of nearly all the inmates on federal death row. (Reuters/Kevin Lamarque/File Photo) Schlicter then suggested the decision would give President-elect Trump more "political standing" to pardon January 6 prisoners, calling it "possible good news" resulting from Biden's "moral idiocy." Author Miranda Devine urged others not to let Biden "off the hook" by blaming the move on his administration and close allies. "As a Catholic, I recognize performative Catholicism. Pure Biden. His 'conscience' requires him to commute death sentences for child killers but allows him to promote child killing in abortion. Makes sense in a macabre way," she added. 'SQUAD' DEM APPLAUDS BIDEN FOR SPARING MURDERERS FROM 'RACIST' DEATH PENALTY IN 11TH-HOUR CLEMENCY MOVE Republican lawmakers were unsurprisingly outraged by the news. "Once again, Democrats side with depraved criminals over their victims, public order, and common decency," Sen. Tom Cotton, R-Ark., wrote on x. "Democrats can't even defend Biden's outrageous decision as some kind of principled, across-the-board opposition to the death penalty since he didn't commute the three most politically toxic cases. Democrats are the party of politically convenient justice." Pennsylvania Congressman Dan Meuser called the decision an "outrageous" example of the Biden administration's "upside down and backward ideology." The three inmates not included in Biden's commuting spree are Robert Bowers, who is responsible for the mass shooting at the Tree of Life Synagogue in 2018, Dylann Roof, a White supremacist who killed nine Black parishioners at Emanuel AME Church in South Carolina, in 2015 and Dzhokhar Tsarnaev, who worked with his now-deceased brother to perpetuate the 2013 Boston Marathon bombing that killed three people and injured hundreds. CLICK HERE FOR MORE COVERAGE OF MEDIA AND CULTURE Biden, who only supports the death penalty at the federal level for "terrorism and hate-motivated mass murder," said this move will prevent President-elect Donald Trump's administration from "carrying out the execution sentences that would not be handed down under current policy and practice," according to the White House statement. (AP Photo/Susan Walsh) "One just knew Biden was gonna do this: Commute the sentences of 37 murderers, including several multiple killers (one sentenced for involvement in 12 murders), but skip the three that would have caused a political problem," Fox News contributor and Washington Examiner chief political correspondent Byron York tweeted in response to the news. Biden, who only supports the death penalty at the federal level for "terrorism and hate-motivated mass murder," said this move will prevent President-elect Donald Trump's administration from "carrying out the execution sentences that would not be handed down under current policy and practice," according to the White House statement. CLICK HERE TO GET THE FOX NEWS APP Among the list are convicted murderers who will now escape execution, including Marcivicci Barnette, who killed a man in a carjacking and his ex-girlfriend; co-defendants Brandon Basham and Chadrick Fulks, who kidnapped and killed a woman after escaping prison; Anthony Battle, who killed a prison guard; Jason Brown, who stabbed a postal worker to death; Thomas Hager, who committed a drug-related killing; David Runyon, who participated in the murder-for-hire plot of a Naval officer; Thomas Sanders, who kidnapped and killed a 12-year-old girl; Rejon Taylor, who carjacked, kidnapped and killed a restaurant owner; and Alejandro Umana, who killed two brothers inside a restaurant. Fox News' Elizabeth Pritchett contributed to this report. Nikolas Lanum is an associate editor for Fox News Digital.Title: Alibaba Data Center Fire: Official Statement Confirms No Casualties, Blaze Extinguished

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Strengthening Counter-Cyclical Adjustment beyond the Norm: Monetary Policy Emphasizes Moderate Easing Again! A Detailed Explanation of Next Year's Economic Work Unveils More Proactive Macro Policies