An Ontario manufacturer that makes casing connections for pipes used in U.S. energy infrastructure is getting welcome relief after Ottawa granted indefinite remission from its 25 per cent counter-tariffs for many more steel mill products not made in Canada. (The Logic)
The new capital will let the “neo-prime” defence company advance its plans to build drones to accompany crewed military planes and to create a resilient communication platform for remote and difficult environments like the Arctic, founder Eliot Pence said. Dominion will also seek to expand abroad and sell to Canadian allies. (The Logic)
Gross domestic product rose 0.5 per cent from March, and Statistics Canada said early data suggest the economy grew 0.1 per cent in May, amid strength in oil and gas, finance and government spending. (The Logic)
The all-cash deal for Vancouver-based Zymeworks to take publicly traded Theravance private is financed by a US$350-million loan from OMERS and US$219 million of Zymeworks’s own money; the remainder of the payout to Theravance’s shareholders is to come from Theravance’s own cash on hand. At US$17 a share, the deal prices Theravance at a discount from its closing price on Friday. (The Logic)
The startup investment arms of major firms did 60 deals last year, down 20 per cent year over year, according to an analysis by Deloitte Ventures. Of those, 20 were Canadian companies, a 23 per cent annual drop, while 30 were U.S.-based investments, down nine per cent. (The Logic)
Fatih Birol, executive director of the International Energy Agency, told international energy ministers in Montreal that the energy crisis has reduced supply, but trust in suppliers is even more scarce. He said that creates a huge opportunity for Canada to play a big role in supplying the world’s energy, as international governments look for more trusted partners. (The Logic)
The two companies are among the first corporate buyers of North America’s inaugural certified direct air capture (DAC) carbon credits, marking an early start on a technology viewed as critical to achieving net-zero emissions despite its high costs and limited scale. (The Logic)
Beijing-based Zhipu AI’s GLM-5.2 system is just as good at finding gaps and bugs as Anthropic’s Mythos, according to researchers. It’s still not as good as tools offered by the Claude maker or OpenAI at other tasks, though. (The Wall Street Journal)
There might be a window to renewing the Canada-United States-Mexico Agreement (CUSMA) this fall should the Trump administration desire “some kind of win” before the November elections, Steve Verheul said Monday, but he thinks it is more likely discussions will stretch into next year. (The Logic)
Gemini and ChatGPT both produced harmful content, including explicit advice about how to self-harm, in response to 62 per cent of requests, according to an audit by the Centre for Media, Technology and Democracy at McGill University. Anthropic only provided harmful responses two per cent of the time. (The Logic)