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

Key Points:

• Ottawa's 2026 federal budget proposes $151.5 billion in new spending over five years, funded largely by a revenue windfall from high global oil prices, aiming to boost private-sector investment and major infrastructure projects like doubling Canada's energy grid capacity.
• The U.S. midterm elections saw the Democratic Party regain control of Congress, with trade tensions, particularly the Canada-U.S. trade war and tariffs, playing a significant role in key Senate races in states heavily engaged in trade with Canada.
• Florida voters approved major property tax cuts favoring state residents' primary homes, which will increase the tax burden on Canadian snowbirds owning second homes there, although a cap on non-primary residence tax hikes starting in 2027 offers some relief.
• AMD announced a $2.9 billion acquisition of Toronto-based AI chip startup Taalas Inc., marking one of the largest Canadian tech takeovers; Taalas specializes in semiconductor chips for large language models used in AI systems.
• Alberta farmers like Creig and Jeannie Antliff are resisting offers from data centre developers like Beacon Data Centers, amid a surge in demand for land to power AI-focused hyperscale data centres, sparking community calls to slow rapid development in the region.