Bank of Canada says don’t put much weight on GDP data showing technical recession
The Bank of Canada on Monday cautioned against putting too much weight on recent GDP data which showed two consecutive quarters of decline on an annualized basis.
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AI giant Anthropic confidentially files for U.S. IPO as investors bet big on AI future
AI giant Anthropic said on Monday it has confidentially filed for a U.S. initial public offering, teeing up what could become the watershed moment for Wall Street’s AI frenzy.
South Korea’s Hanwha to use Algoma Steel material to build military vehicles in Canada
A South Korean defence company, Hanwha, has announced that it will use steel made at Algoma’s Sault Ste. Marie plant to build armoured weaponized military vehicles in Canada.
What to watch as Ottawa plans to release AI strategy
Ottawa will release its AI strategy this week, to outline how the government will balance the fast-growing industry along with safety and data sovereignty concerns.
S&P/TSX composite index down more than 100 points, oil heads higher
Canada’s main stock index was down more than 100 points in late-morning trading and the price of oil climbed higher as the ceasefire between Iran and the U.S. was strained by the latest fighting.
Oil prices rise, but not by enough to drag Wall Street far off its records
Oil prices are rising following the latest fighting to threaten the U.S.-Iran ceasefire, but U.S. stocks are hanging near their records in Wall Street.
Two Quebec towns battle to become international ‘capital of maple syrup’
Two cities in Quebec have found themselves in a sticky situation, with both claiming to be the 'capital of maple syrup.'
Canadian factory sector grows on likely war-linked stockpiling
Canada’s manufacturing sector expanded for a second straight month in May as the potential for higher prices and product shortages due to the war in the Middle East likely boosted client demand, data showed on Monday.
Motorola targets rogue drones with US$1.5 billion D-Fend deal
Motorola Solutions said it would buy Israeli startup D-Fend Solutions for US$1.5 billion as governments and critical infrastructure operators worldwide rush to defend against the growing threat of rogue drones.
Apotex looking to sell about $1 billion in shares in initial public offering
Drug company Apotex Health Corp. says it is looking to sell about $1 billion worth of shares in its initial public offering.
Cogeco to take $1.7B non-cash charge related to U.S. telecom business
Cogeco Communications Inc. and Cogeco Inc. say they expect to take a non-cash impairment charge of about $1.7 billion related to its U.S. telecommunications segment.
JetBlue flags higher fuel costs, benefits from Spirit shutdown
U.S. carrier JetBlue raised its second-quarter fuel costs forecast on Monday as the global aviation industry grapples with rising jet fuel prices amid disruptions from the closure of the Strait of Hormuz.
EasyJet says possible U.S. bid ‘highly opportunistic’ as shares jump
EasyJet shares rose 10 per cent on Monday after Castlelake said it was considering a potential takeover bid, with the British budget airline calling the U.S. investment firm’s timing “highly opportunistic” given the impact of the Iran war.
African EV firm Spiro raises US$215 million for electric mobility expansion
African electric vehicle firm Spiro has raised US$215 million in equity financing to expand its battery-swapping and electric mobility infrastructure across Africa, the company said Monday.
Gas generator maker ERock aims for US$5 billion valuation in U.S. IPO
ERock, which makes natural gas generators for critical facilities, is targeting a valuation of up to $5 billion in its initial public offering in the United States, it said in a regulatory filing on Monday.