Chery, BYD, Geely and Shanghai Launch Automotive Technology are all willing to explore creating joint ventures to manufacture electric vehicles in Canada, Industry Minister Mélanie Joly said Monday after meeting with the companies during her recent visit to China. (The Logic)
The consumer price index increased 3.2 per cent in May from a year earlier, as gasoline surged 33.2 per cent, Statistics Canada reported. Excluding gasoline, the index rose 2.2 per cent, near the Bank of Canada’s target of two per cent. (The Logic)
The $56.7-million deal with Celestial Acquisition Corp. will see the U.S.-centred spinout from Nokia Bell Labs, called Modul8, listed on the TSX Venture Exchange as an Ontario company. Celestial is a capital-pool company whose purpose is to find a business to take public. The new board is to be chaired by Kevin Ford, the recently retired CEO of Calian, and include former astronaut Chris Hadfield and ex-Conservative leader Erin O’Toole. (The Logic)
The provincial privacy commissioner has never received a single privacy impact assessment from a police force over its use of software that snoops on people’s smartphones and other devices, Christopher Parsons, the office’s director of research and technology policy, said at the National Cybersecurity Consortium conference in Montreal on Thursday. (The Logic)
Ontario Superior Court Justice Anne Molloy found businessman Frank Stronach guilty of two counts related to two complainants. He will be sentenced in September. Molloy found Stronach not guilty of three other charges based on allegations from a third complainant. (CBC)
Google spokesperson Shay Purdy says the changes to Bill C-22 don’t address core issues with the bill. The government tabled the proposed law to make it easier for law enforcement agencies to access digital records, but the company says it creates cybersecurity and privacy risks. (The Logic)
The big telcos’ various fees for services like “device handling,” “device setup,” shipping and SIM cards are legitimate customer charges, they argued in separate letters to the Canadian Radio-television and Telecommunications Commission. The regulator had asked the companies to explain the fees, suggesting they violate a recent policy against spurious fees that make it more difficult to change cellphone plans or providers. (The Logic)
MDA is buying the Colorado-based maker of satellites and related components from Raytheon to boost its U.S. presence and “capitalize on growing demand in the U.S. government market for defence space missions,” it said in announcing the all-cash agreement. The deal is expected to close later in 2026 and MDA said it expects Blue Canyon will immediately improve earnings and free cash flow. MDA’s share price rose about four per cent after the news. (The Logic)
The Office of the Superintendent of Financial Institutions lowered the domestic stability buffer—which sets how much extra capital banks hold to guard against economic shocks—to three per cent from 3.5 per cent, the first change since June 2023. It also lowered the buffer’s range to zero to three per cent from zero to four per cent. (The Logic)
The Liberal government used its majority powers to limit debate on the controversial Bill C-22, which will give police easier access to digital records. MPs on the House of Commons public safety committee sat until well after midnight voting on amendments, which were passed in the House on Thursday without a vote. (The Logic)