Canada's prime minister tells Trump: You'll never own us
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Canada's newly elected Prime Minister has a message for Donald Trump. You'll never own us, live from the UK. This is the Marketplace Morning Report from the BBC World Service. I'm Stuart Clarkson in Fort Leanna Burn. Good morning. Former central banker Mark Carney has been re-elected as Prime Minister of Canada in a snap election dominated by the country's relationship with the US. BBC's Least to Set reports from the country's capital, Ottawa.

It's an extraordinary moment in Canadian political history. Only months ago, the Liberal Party was trailing by double digits. Only months ago, the former banker Mark Carney had no political experience. But he has led his party to a fourth term, due in large part to his political rival who wasn't on the ballot, U.S. President Donald Trump, who has repeatedly threatened to take over Canada.

In his victory speech, Mr. Carney reiterated that would never happen. As I've been warning for months, America wants our land, our resources, our water, our country. Never. But these are not idle threats. President Trump is trying to break us so that America can own us.

That will never, that will never ever happen. Mr. Carney also stressed repeatedly that he would be a prime minister for all Canadians, including the millions who didn't vote for him.

He called for unity in a country which confronts its own internal problems, including regional tensions over Canada's future.

Well, President Trump's tariffs and repeated calls for Canada to become the US's 51st state, and what that means for Canada's economy, were major issues in the campaign. Michael Ignatieff is a former leader of Canada's Liberal Party. He says the incoming government would face challenges in moving away from the trading relationship with the US. It doesn't have immediate options. It's just very difficult to

take an economy that has had 85% of its market in the United States and build linkages in Asia or linkages in Europe. Everybody knows that that's what has to happen, but that's a 10-year project.

So Canada goes into those negotiations in some difficulty. But at the same time, I think Trump has underestimated the fury that he has awakened in Canada and the determination the whole country faces, regardless of how they voted in the election, to stand up to Trump. And there are some vulnerabilities on the American side. They're very dependent on Canadian energy, Canadian resources. And

And we make things together across the border and have done for 30, 40 years. And so there'll be pressure from American employers, American manufacturers, American auto companies.

on the US administration, getting them to understand the interdependence of the two economies and the fact that this is good for the United States. So Canada will fight hard on one side, and then I think they can count on quite a lot of support from American economic interests. That's the former leader of Canada's Liberal Party, Michael Inakityev.

Profits at British oil and gas giant BP halved in the first quarter of the year to $1.38 billion, hit by a slump in crude oil prices. Bosses there are under pressure from key investors to focus less on renewables and more on fossil fuels. Ashley Kelty is an oil and gas research analyst with Pamir Liberum.

They need to really ditch the low-margin renewables business. They're just clearly not very good at it. It doesn't generate the same returns that oil and gas want. I think investors want them to focus on oil and gas. The problem is renewable subsidies are going to be cut with the large push to rearm across Europe. So it's going to be bombs over wind farms, I think, for a few years. But for oil and gas, there is still high returns.

they are under pressure, but need to reduce costs. That's the energy analyst, Ashley Kelty. Now let's do the numbers.

And the German airline Lufthansa has reported a net loss of a billion dollars in the first quarter of 2025. It's blamed rising costs at airports, but says trade tensions between the US and Europe now make it difficult to forecast what will happen later in the year. And sports brand Adidas says its first quarter sales were up 14% in Europe and 26% in Latin America, but rose just 3% in North America.

Now, the European Court of Justice has ruled that Malta's so-called Golden Passport Programme that allows wealthy foreigners to obtain citizenship is an infringement of EU law. The scheme granted foreigners a passport and thereby the right to live and work in any EU country in return for an investment of around $1.14 million.

Officials in Spain and Portugal are investigating the cause of widespread blackouts that disrupted the countries yesterday. Engineers worked through the night to restore power. The operator of the Spanish power grid says it's now back on across most of the mainland. The BBC's Guy Hedgcoe is in Madrid. People in Madrid applauded when power returned after spending much of yesterday without electricity.

The blackout left many trains stranded and planes grounded as businesses were forced to close and children sent home from school. Mobile phone coverage was also severely affected. Portugal faced a similar situation. Despite power returning, the government has asked people to keep phone calls short and avoid travel where possible as the country returns to normal. Spain's King Felipe will preside a national security meeting today.

The cause of the blackout is still not known, with a cyber attack or a freak weather phenomenon seen as possible culprits. The Spanish government has said it's not ruling out any hypothesis. That's the BBC's Guy Hedgcoe in Madrid. Our producer today was Neil Morrow. Our editor is Naomi Rainey. In the UK, I'm Stuart Clarkson with the Marketplace Morning Report from the BBC World Service. Have a great day.

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