Five things you should know before you start your work day on Jan. 18

Huawei CFO Meng Wanzhou lives in Vancouver while she awaits word of extradition to the U.S.Darryl Dyck/The Canadian Press

Good morning, at the end of this week. Today’s roster ranges from the overlooked oil sector, the Husky bail-out, the un-American World Bank, the “everyman” investor, unusual house arrest,. All very interesting reads; please enjoy!

UNHAPPY NEW YEAR

Welcome to another year of stomping on Canada’s most important industry. The cannabis industry may hit $6 billion in contributions to GDP, and automakers $20 billion. But oil and gas? An apparently not-noteworthy $117 billion, Gwyn Morgan writes. The former oil executive offers his six biggest business headlines that should have been noted last year. His No. 1 story would have been “Canadians still can’t buy Canadian oil,” but this was, in his view, unfortunately overtaken by “Canadians can now buy cannabis.”

SHORT OF SUPPORT

MEG shares plunged 36% after Husky walked away from its hostile takeover bid. Husky blamed Alberta oil cuts and lack of pipelines, saying “several negative surprises in the business and economic environment” since it launched its bid 105 days ago created an uncertain environment.

Geoffrey Morgan reports that Husky still plans to sell its retail fuel business and a B.C. refinery.

CHALLENGE CONVENTION

It’s time for the U.S. to loosen its grip on the World Bank. Canada’s interests would be best served by lending its support to a candidate put forward by emerging economies, Kevin Carmichael writes. Jim Yong Kim’s surprise resignation as president of the World Bank is effective Feb. 1; if our government is true to its words, it will use the time to help find a qualified non-American to lead the institution for the first time in its 75-year history.

IN THE VANGUARD

Five pieces of advice from the man who brought investing to regular people. Jack Bogle transformed money management, making investing cheaper, simpler and more accessible. He saw early on that the people who really need the returns from investments were the ordinary folks just saving for retirement. That realization led him to create a multi-billion-dollar company but, in fact, he lived a long life being proud that he wasn’t a billionaire.

MANSION ARREST

For someone at the centre of a complex multi-national power game, and under house arrest in a tony neighbourhood of Vancouver, Huawei CFO Meng Wanzhou lives in luxury. Meng’s unusual bail terms let her go out as long as she wears a GPS monitor and sticks to her curfew. The U.S. has until the end of the month to formally request extradition, after which point the thorny hearings would begin. So Meng could be supporting Vancouver’s retail and resto scene for months or even years yet.

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