Speaking to reporters in Ottawa on Friday, Prime Minister Mark Carney said that the Defence, Security and Resilience Bank (DSRB), which will be headquartered in Canada, has secured a “critical mass” of international support and that he looks forward to discussing it with whoever replaces the departing Keir Starmer. (The Logic)
B.C. Premier David Eby will cut short a trade trip to China to return to Vancouver on July 2 for a “potential announcement of a finalized MOU,” he said Thursday. It could involve federal funding for the George Massey Tunnel replacement in Metro Vancouver, and the North Coast Transmission Line, BC Hydro’s multibillion-dollar project to expand the electrical grid in northern B.C., among other projects, he said. (The Logic)
In a letter to the Canadian broadcasting regulator, Quebecor vice-president Peggy Tabet said if the commission wants to preserve Corus’ assets for the Canadian broadcasting system, it should favour a takeover bid by someone with knowledge of the industry. (The Logic)
The U.S. commerce secretary wants to renegotiate the 2012 agreement that would have Canada collect toll revenue on the new Windsor-Detroit crossing until it recoups the $6.4 billion cost of construction, which co-owns the bridge. Citing unnamed sources, Bloomberg reported that Lutnick stepped in to push for a greater share of toll fees. (Bloomberg)
Focus groups in 11 Canadian cities revealed that “many” believe that the consumer price index—the gauge the Bank of Canada uses to set interest rates—understates the cost of goods and services. (The Logic)
Prime Minister Mark Carney said the controversial $1.45-billion plan to buy 2,200 vacant condos in British Columbia and convert them into affordable housing should be judged on the economics of individual transactions, if they actually happen. (The Logic)
The Waterloo-based company reported US$152.9 million in revenue in the quarter ending on May 31, a 26 per cent year-on-year increase and above the US$140 million in revenue the company expected. Adjusted operating earnings increased 144 per cent to US$36.3 million. The company previously forecasted operating earnings of between US$14 million and US$22 million. (The Logic)
Daniel Friedmann took over last week, said Sanctuary communications head Katie Staeger. He has been a board member of the Vancouver-based firm since last June and chair since November. Friedmann replaces James Wells, who is leaving Sanctuary. (The Logic)
The French company raised more than $780 million in a round led by Prosus, the Amsterdam-based tech investing subsidiary of South Africa’s Naspers. Ontario Teachers’ Pension Plan, was a returning investor after leading its series E round. Alan said it plans to double the size of its Canadian team, which has 27 full-time staffers, over the next two years, by expanding from Toronto to Montreal. (The Logic)
Prime Minister Mark Carney suggested on Thursday that President Donald Trump could move quickly when he is ready to make a deal—despite his envoy to Ottawa claiming negotiators are “not anywhere close” to a resolution on the Canada-United States-Mexico Agreement (CUSMA). (The Logic)