François-Philippe Champagne said Tuesday he expects to bring a “constructive spirit” to his planned conversation with U.S. Treasury Secretary Scott Bessent as G20 finance ministers gather in Asheville, N.C., but also expects to speak firmly about Canada-U.S. trade. (The Logic)
Yuma, which runs battery-swapping stations as alternatives to electric vehicle charging hubs, said the Series A round will help it achieve positive pre-tax earnings growth in fiscal 2027 as it expands across India. It’s a joint venture between the Ontario-based auto parts maker and Yulu, a Bangalore-based electric bike-share company. Yuma didn’t disclose any other investors in the round. (The Logic)
Rising oil prices and expectations of further interest rate hikes intensified a global sell-off in government debt. Canada’s 10-year government bond yield rose to 3.73 per cent Monday, one of its highest marks since early 2025, while Japan’s 10-year yield hit three per cent for the first time since 1996 and the U.S. 10-year Treasury yield climbed as high as 4.792 per cent, the highest since January 2025. (The Logic, Bloomberg)
Prime Minister Mark Carney named Dominic Barton, chair of global mining giant Rio Tinto and private equity firm LeapFrog Investments—and a former ambassador to China—as chair of Invest in Canada on a part-time basis. He also appointed private equity investor Gurinder Grewal as CEO of the federal investment agency. (The Logic)
Laurel Broten resigned effective Sept. 1, more than a year before her term was set to expire, Internal Trade Minister Dominic LeBlanc, the minister responsible for the arms-length federal investment agency, said in a post on X Monday. (The Logic, The Globe and Mail)
Unifor, which represents more than 4,600 workers at General Motors plants in Ontario, said Sunday its members voted to ratify three-year contracts with the Detroit Three automaker that included the commitments. (The Logic)
The Toronto-based legal and financial technology company, which was previously run by a committee of board directors, said Monday that chief operating officer Todd Schulte will be chief executive until the company makes a permanent appointment, while existing director Angela Zhang will lead the board. Zhang will take over for Mary Filippelli, who exited the company’s board just months after joining as chair in May. (The Logic)
The Montreal-based luxury fashion retailer plans to open a fulfilment centre in the U.S. to house inventory for American customers. The warehouse will let the company reduce steep duties on products that would otherwise be shipped from Canada. (The New York Times)
Financial Stability Board chair Andrew Bailey sent a letter to G20 finance ministers and central bank governors, urging them to make sure they can restore critical parts of the financial system from “bare metal” as AI makes disruptive cyberattacks easier and more likely. (The Logic)
A 2023 estimate prepared by the Via Rail subsidiary added 40 years of costs to run and maintain the planned high-speed rail line to the projected construction outlays of $60 billion to $90 billion. The draft document, obtained by The Globe and Mail, also estimated that four decades of passenger fares and other revenue would offset those costs by about $105 billion. (The Globe and Mail)