Here are five things you need to know this morning
Tim Cook stepping down as Apple CEO
Tim Cook is stepping down as Apple’s CEO after 15 years in the role. John Ternus will be the next CEO. The hardware chief will take office on September 1, as Cook shifts to the role of executive chairman. The iphone maker says Cook will engage with policymakers around the world. Ternus has spent 25 years focused on product development at Apple and has served as the head of hardware engineering since 2021. Apple’s post-Cook future may hinge on how Ternus adapts the company to AI trends and the overall fast-evolving tech landscape.
U.S. Fed chair nominee hearing
U.S. Federal Reserve chair nominee Kevin Warsh will answer questions from the U.S. Senate Banking Committee today, beginning at 10am et. Warsh will be looking to convince lawmakers he can deal with a push from the White House for lower interest rates while preserving independence and objectivity in setting policy. The former Fed governor will face questioning over a variety of subjects, from monetary policy to banking regulation to his own complicated personal finances.
Feds mull southern pipeline route
The Globe and Mail is reporting the federal government is leaning towards a southern pipeline route to bring oil from Alberta to British Columbia. According to the report, the route could end at the port of Vancouver. It could also face fewer environmental hurdles and less resistance from indigenous groups. According to one source, Alberta expects Ottawa to designate the pipeline a project of national importance this fall.
UnitedHealth beats expectations
Shares of UnitedHealth traded higher in the premarket. The American insurer boosted its revenue forecast for the full year. First quarter profit and revenue also beat expectations. This comes as the healthcare company’s turnaround efforts continue with replacements in the executive leadership and substantial investments in AI. United says it will buy back at least US$2 billion worth of stock by the end of the second quarter this year.
$1.57 billion Canada Post loss
Canada Post reported a loss of $1.57 billion loss for 2025. The Crown corporation said the loss grew by a whopping $728 million, or 86.7 per cent, compared to the loss incurred in the previous year, calling it the company’s “largest loss before tax on record.” “Canada Post’s financial situation deteriorated significantly in 2025 as labour uncertainty weighed on the business, and decades-old rules and frameworks continued to impede the company’s modernization and its ability to compete,” the news release said. “The severity of the corporation’s financial situation underscores the urgency to transform and meet the modern needs of the country.” Last week Canada Post announced that it was restructuring operations by putting an end to door-to-door home deliveries nationwide.
