Here are five things you need to know this morning
U.S., Iran delay negotiations
The U.S. and Iran have delayed the start of negotiations over a permanent peace deal as well as Tehran’s nuclear program. The negotiations were set to take place in Switzerland today, and the delay comes amid intensified fighting in southern Lebanon. Iran has insisted on a ceasefire in Lebanon as part of the interim peace deal finalized with the U.S. earlier this week. There is no indication of a new start date for the discussions. It is not yet clear if the developments will affect the strait of Hormuz.
Canada April retail sales up 0.5%
Retail sales across the country saw an increase in April. Data from StatsCan shows retail sales rose 0.5 per cent, driven by increases at gas stations and fuel vendors. Sales were up in five of nine subsectors, with the largest provincial increase occurring in Ontario, due to higher sales at motor vehicle and parts dealers. Sales at food and beverage retailers as well as general merchandise stores saw a decline. In a flash estimate, StatsCan suggests retail sales likely rose one per cent in May.
Google: Canada’s data law changes not enough
Alphabet Inc.’s Google says Canada’s changes to Bill C-22, known as the Lawful Access Act, does not resolve concerns. The law is aimed at helping police obtain citizen data from private companies. Ottawa’s changes explicitly state it will not require decryption of encrypted information and will reduce the metadata retention period to six months instead of a year. Google, Apple and Meta have heavily criticized the law, citing security concerns and compromise to user privacy. Google says the Canadian government can support law enforcement without resorting to secret ministerial orders that put Canadians at risk.
MDA Space buying Blue Canyon Technologies
MDA Space is buying spacecraft technology builder, Blue Canyon Technologies. The all-cash transaction is valued at US$620 million. Under the terms, Blue Canyon will add spacecraft and satellite components worth $3.5 billion to MDA’s pipeline. The deal is expected to close by the end of the year.
5 golden growth opportunities?
Growth stocks often stumble. BNN Bloomberg contributor Jon Erlichman speaks with a growth investor about how to spot the struggling names with the potential to bounce back.
