2026-06-23
[Bnn Bloomberg Canada]: .S. rolls back sanctions on Iranian oil
The U.S. has rolled back sanctions on Iranian oil, allowing dollar-based trade for the first time in more than four decades. The 60-day exemption will allow Iran to produce and sell crude oil in U.S. dollars until August 21. Under the so-called General License X, vessels and entities previously subject to U.S. sanctions are also cleared for transactions. The move could unlock an inventory of around 67 million barrels of Iranian crude stranded in the Gulf. The sanctions relief follows the Memorandum of Understanding signed between the two countries.
Couche-Tard posts higher fuel margins on Iran war
Alimentation Couche-Tard saw major gains in fuel margins in its latest quarter, due to the war in the Middle East. The gas station and convenience store operator also beat analysts estimates for sales and profit, with revenue jumping 20 per cent compared to the same period the year before. The owner of the Circle K brand also saw same-store sales growth in Canada that offset lower fuel volumes in the U.S. and Europe.
Toys ‘R’ Us Canada gets approval to sell parts of company
Toys ‘R’ Us Canada has received court approval to sell parts of the company to three firms, including its current owner. The approval will help the struggling retailer pay off some of its debt. Under the terms, ten store leases, the brand’s inventory, equipment and bank accounts will be transferred to a numbered company run by current owner Doug Putman. Toy brand manager Ad Populum will get the rights to the Toys “R” Us Canada and Babies “R” Us Canada names as well as the company’s trademarks. And foreign retailer, Fox Group Jumbo Canada, will acquire the lease for a Toys “R” Us store at Vaughan Mills. The value of the transactions has not been disclosed.
------
2026-06-16
[Bnn Bloomberg Canada]: Prime Minister Mark Carney did not hold a formal bilateral meeting with U.S. President Donald Trump at the G7. Carney notes, however, that he had discussions with the president over the course of the summit on a wide range of subjects, including the economy, AI and Iran. The summit is ending as the deadline to renew the Canada-U.S.-Mexico trade agreement draws near. Canada-U.S. trade minister Dominic Leblanc says progress on the pact was made at the summit.
Bloomberg: G7 agree to reduce reliance on China
Today marks the last day of the G7 summit in France. Bloomberg is reporting the group of seven is aiming to reduce reliance on China. According to the report, the leaders have agreed that no single country should supply more than 60% of imports of critical minerals by 2030. The countries plan to introduce binding quotas for companies in some industrial sectors as well as set up a platform to increase supply from recycling and new mining projects. China currently controls roughly 70% of the market for refining processes for critical minerals.
Canada, UAE enter new economic partnership
Prime minister Mark Carney says Canada and the United Arab Emirates will enter a new economic partnership, and are in active negotiations. Carney says the partnership will catalyze billions of dollars of new investment in major infrastructure projects. UAE investments in Canada currently exceed $30 billion across logistics, ports and energy. The UAE remains Canada’s largest export market across the Middle East and North Africa region.
CPPIB committing to strategic partnership with India
The Canada Pension Plan Investment Board is committing one billion dollars to a strategic partnership in India. CPPIB will invest $588 million to acquire an 8.2 per cent stake in CtrIS Datacenters Ltd. and will invest up to $441 million to form a joint venture to develop hyperscale data centre infrastructure across the region. Under the terms, the investment manager will own a 48 per cent stake in the project.
No comments:
Post a Comment