Canada imported $73.6 billion worth of goods in June—a 0.2 per cent increase over May. Statistics Canada said Tuesday that was due to about $3 billion worth of imported computers and parts—a 59 per cent single-month increase in that category driven mainly by purchases of processing units from the U.S. typically used in data centres. (The Logic)
The Montreal-based asset management giant said the value of its interest in Wealthsimple rose 15 per cent in the second quarter, citing the Canadian fintech’s “continued business momentum.” Power Corp. controls Wealthsimple through a 52.3 per cent ownership stake held directly and through Power subsidiaries and affiliates including IGM Financial, Great-West Lifeco and Toronto venture capital firm Portage Ventures. (The Logic)
Health Canada authorized the first tests in humans of the company’s vaccine against Bundibugyo virus disease, the cause of the ongoing Ebola outbreak, the largest ever in the Democratic Republic of the Congo. Phase 1 clinical trials test pharmaceuticals in healthy people, mainly to look for unexpected side effects and harms. Moderna said Tuesday it has already begun the trial. (The Logic)
The pipeline giant is now forecasting a 51-billion cubic feet per day increase in North American natural gas demand by 2035—rising about 40 per cent from 2025 levels of roughly 130 billion cubic feet per day to 181 billion cubic feet per day. Previously, TC forecasted demand would reach 170 billion cubic feet per day by 2035. The revision is primarily driven by accelerating power demand—including from AI data centres—as well as from liquefied natural gas exports and industrial growth. (The Logic)
Councillors for the Greater Toronto Area city voted Wednesday to ban the “establishment of major digital infrastructure facilities” for a year while city staff study planning, zoning and other applicable policies to ensure they address environmental, tax and other issues. Meanwhile, Toronto city councillors called for further review of proposed data centres in suburbs Etobicoke and Scarborough. (Toronto Star, The Logic)
Almost all workers knew about tools like ChatGPT as of March, but only 35.9 per cent employed them, according to data from Statistics Canada’s Labour Force Survey (LFS). Among those that did, 63.5 per cent were using them for some but not most of their tasks. (The Logic)
The country’s largest grocery chain owner reported a 4.1 per cent increase in revenue to about $15 billion in the second quarter. Its discount locations outperformed its other retail brands, with same-store sales at No Frills and Maxi up almost four per cent from the same period a year earlier, compared to 1.6 per cent growth across all Loblaw grocery stores. (The Logic)
The Toronto-based fintech reported approximately $17 billion in net inflows during the second quarter, lifting assets under administration to $155.6 billion, up 25 per cent from the previous quarter and 84 per cent year over year. (The Logic)
The Montreal-based e-commerce and point-of-sale technology firm posted a US$2.4-million net loss in the first quarter of fiscal 2027, down from US$49.6 million a year earlier, as revenue rose 17 per cent to US$322.7 million. Shares fell about 14 per cent in midday trading Thursday. (The Logic)
Prime Minister Mark Carney dismissed the idea that Canada should restrict exports of Canadian oil and other natural resources to the U.S. to counter the threat of additional 50 per cent tariffs. “Being a reliable supplier is important,” Carney said Wednesday in Red Deer, Alta. “One of the biggest commodities, arguably the best, is trust,” Carney said. When Canada is a supplier of vital commodities, “you’ve got to think really hard about not supplying.” (The Logic)