Here are five things you need to know this morning
Air Canada CEO to retire: Air Canada CEO Michael Rousseau will retire by the end of September. The move follows backlash after he released a condolence video for victims of the LaGuardia Airport crash in which he did not speak French. The company says the search for a new CEO is underway, and that the ability to communicate in French will be considered in the decision.
Oil surges amid new Trump threats: The price of oil is surging again as U.S. President Donald Trump threatens Iranian energy sites if the Strait of Hormuz is not reopened soon. In a post on social media, Trump said the U.S. would respond by “blowing up and completely obliterating” Iran’s power plants, oil wells, and Kharg Island if the Strait remains closed. The remarks come after a brief pause in attacks on energy infrastructure as the two countries held talks aimed at easing tensions. Crude prices traded up by as much as two per cent.
Plans to save Glencore Quebec smelter: Bloomberg News is reporting the federal government is working with Quebec to prevent the closure of Canada’s only copper smelter, after Glencore threatened to shut it over new pollution‑control requirements. Last month, the company suspended plans to invest nearly US$1 billion in its Quebec operations after talks on reducing arsenic emissions collapsed. Quebec is now proposing legislative changes to address some of Glencore’s concerns.
$1.5B in defence contracts awarded: The federal government has awarded L3Harris Technologies and Airbus three long‑term defence contracts worth a combined $1.5 billion. L3JHarris secured two of the contracts totaling about $1.1 billion, while Airbus received the third worth roughly $370 million. The agreements cover in‑service support for Canada’s new tanker fleet, including medical evacuations, air‑to‑air refueling, and passenger transport.
New NDP leader: Avi Lewis has been elected leader of the New Democratic Party. A former journalist and activist, Lewis ran on a populist platform aimed at pulling the NDP further to the left. His proposals included ending new oil production, introducing a wealth tax and offering public options for groceries and banking.
