Sponsored by Cytophage Technologies

Denmark’s $1T Bid for California

A Danish activist group known as Denmarkification is causing a stir with its tongue-in-cheek proposal to purchase the state of California from the United States for $1 trillion. The idea emerged in response to former President Donald Trump’s own suggestion of acquiring Greenland, an autonomous Danish territory.

Organizers point to warm weather, palm trees, and a desire for “more sunshine and roller skates” as core reasons for their quest to bring California into the Danish realm—an initiative that has garnered over 198,000 signatories so far, with the group aiming to surpass 200,000.

You can read more on the matter here.

What’s going on?

• Senator Urges Democrats to Block Trump Nominees, Warns of A ‘Constitutional Crisis’ (theDeepDive)

• Trump says Canada’s and Mexico’s responses to his tariff threats are ‘not good enough’ (Fortune)

• CMHC Data Shows Housing Affordability Target Now Out Of Reach (theDeepDive)

• Hamas accuses Israel of ceasefire violations, says it will delay next hostage release (Globe)

• Trump Delays Suspension of De Minimis Provision Against China (theDeepDive)

• OpenAI Has Spoken to Government Officials About DeepSeek Probe (Bloomberg)

• Did Trump Also Freeze the US International Development Finance Corp? (theDeepDive)

• McDonald’s U.S. Sales Drop as Customers Spend Less (WSJ)

• First Majestic Finalizes The Gatos Silver Purchase – Full Breakdown (theDeepDive)

• Toronto buyers left in lurch as preconstruction condos now worth less than original value (Globe)

What’s the latest?

• New Trump Tariffs: President Trump announced a new 25% tariff on all steel and aluminum imports, set to be detailed on Monday, with reciprocal tariffs following midweek. The impact on existing duty-free exemptions and quota arrangements remains unclear. Canada supplies 79% of U.S. primary aluminum imports, and Quebec’s premier has called for early free trade renegotiations. Trump also warned that Canada and Mexico must strengthen border security by March 1 to avoid broad 25% tariffs on all their exports.

• Treasury: U.S. Treasury yields edged lower, with the 10-year yield at 4.477% (-0.01) and the 2-year yield at 4.256% (-0.023). Key economic data releases this week include core inflation (Wednesday), producer price index and jobless claims (Thursday), and retail sales (Friday). Fed Chair Jerome Powell will testify before Congress, and investors await Trump’s 25% tariff announcement on steel and aluminum imports. Economists warn tariffs could slow hiring, weaken income, and strain consumer spending amid high inflation.

• AI: France announced €109 billion ($112.6 billion) in private AI investments, including €30-50 billion from the UAE for a one-gigawatt AI data center. This follows the U.S. "Stargate" project, a $500 billion AI investment by OpenAI, Oracle, and SoftBank. The AI Action Summit in Paris features global leaders, including EU President Ursula von der Leyen and Google CEO Sundar Pichai, discussing AI competition and regulation. Chinese AI firm DeepSeek’s new model has sparked debates about AI infrastructure costs, with estimates suggesting over $500 million in hardware spending.

• TD Bank: Toronto-Dominion Bank is selling its entire 10.1% stake in Charles Schwab, raising approximately $14 billion. The sale, the largest secondary share offering of 2024, follows TD’s $3.1 billion U.S. money-laundering settlement. TD will use C$8 billion ($5.6 billion) for share buybacks and invest the rest in its businesses. Analysts view the move as freeing up capital for higher-return opportunities, with TD’s net income expected to drop by about 7%, offset by the repurchase of 100 million shares (6% of outstanding shares).

• BP Shares: BP shares surged nearly 7% on Monday amid reports that Elliott Management has acquired a stake in the company, potentially pushing for strategic changes. BP has underperformed its peers, with shares down 9% over the past year compared to Shell’s 6% gain. The company warned of higher costs and weaker refining margins in its Q4 update and plans to cut 4,700 jobs to save $2 billion by 2026. Analysts speculate Elliott may push for leadership changes or a restructuring of BP’s oil, gas, and renewable energy segments.

Why coffee prices are soaring

The stock market and stuff

• TD Bank To Sell 10.1% Interest In Charles Schwab, Spend C$8 Billion On Share Buyback Program (theDeepDive)

• Nippon Steel considering 'bold' revision to US Steel buyout, government spokesperson says (Reuters)

• Federal Judge Forces Coinbase to Confront Broker-Dealer Allegations (theDeepDive)

• Gold Passes $2,900 to Record as Trump Tariffs Spur Haven Buying (Bloomberg)

• Porsche Shifts Back to Gas Engines as EV Sales Slump (theDeepDive)

In the juniors

• Canadian Copper Sees Positive Results From Early Metallurgical Testwork (theDeepDive)

• Aurora Cannabis Rallies On 316% Earnings Jump In Q3 2025 (theDeepDive)

• Goliath Hits 12.03 g/t Gold Equivalent Over Ten Metres, Discovers Five Stacked Gold Veins (theDeepDive)

FULL DISCLOSURE: Cytophage Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cytophage Technologies. The author has been compensated to cover Cytophage Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.