Is Canon working on a large sensor, full frame, compact camera like the Sony RX1? Canon France has a page suggesting this may be happening and there are apparently compact camera developments involving both full frame and APS-C sensors. You can read the article on Canon France's website.
It will be interesting to see if Canon may be branching out with more offerings from their compact PowerShot camera lines. Perhaps this 'major event' that Canon has been sending out invitations for may touch on this development. Keep checking back for more news.