June 16-30, 2026

2026-06-30

[Bnn Bloomberg Canada]: Canadian economy bounces back

The Canadian economy has begun to pull out of its ‘technical recession’. Gross domestic product rose 0.5% in April on a monthly basis -- the fastest pace since July of last year. Goods-producing industries rose 1.2%, driven by oil and gas extraction, and the country’s manufacturing sector expanded 0.6%. As well, Statscan estimates GDP rose by 0.1% in May.

Globe: Alberta to propose pipeline without private backers

The Globe and Mail is reporting Alberta’s initial proposal for a new oil pipeline to the west coast will not be backed by any private-sector supporters. The province set a deadline of tomorrow to submit the proposal to the federal government’s major project office. The Globe reports Alberta will meet the deadline and will front its application. Alberta is facing opposition from B.C. premier David Eby and many Indigenous groups.

Dominion Dynamics raises $139 million

A defence technology company that has helped protect Canada’s north has raised $139 million in the largest Series A funding round for a Canadian defence company ever. Dominion Dynamics says the cash it raised will help the Ottawa-based firm expand rapidly. Dominion Dynamics, which was founded in June 2025, is best known for AuraNet, a network of sensors and a map-based platform that can collect, trace and transmit information from remote regions with no or patchy cell service.

Zymeworks buying Theravance for US$929 million

Zymeworks, a Vancouver-based biotechnology company, is buying Theravance Biopharma for US$929 million. The deal will give Zymeworks access to U.S. cash flows from lung-disease drug Yupelri. Zymeworks will also get Theravance’s pipeline of early stage research and development assets, which it may monetize at some point.

Westjet adding seats for flights to World Cup match

WestJet is adding seats to its Houston flights after the Canada’s national soccer team scored a historic World Cup victory, setting up a key matchup on Sunday in Houston. WestJet says it will use larger aircraft on eight flights between its hub in Calgary and Houston in the days leading up to the game and after, allowing it to board as many as 42 extra travelers per flight. The changes are being implemented “to make it easier for more Canadians to show up in full force and support our team on the international stage,” spokesperson Julia Kaiser said in an emailed statement to Bloomberg News.

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2026-06-29

[Bnn Bloomberg Canada]: Market jitters as the U.S. and Iran trade fire

Stocks diverged and oil prices edged higher on Monday after the U.S. and Iran exchanged fire over the weekend, underscoring the fragility of their agreement to end the war. While the U.S. said it had agreed with Iran to halt the attacks and continue talks, the strikes disrupted shipping through the vital Strait of Hormuz over the weekend.

Oil prices, which last week fell to pre-war levels, rose slightly on Monday. “The impact on oil prices remains relatively contained,” said Ipek Ozkardeskaya, senior analyst at Swissquote. “News that some key markets have even turned oversupplied thanks to the release of strategic reserves and oil tankers quietly making their way out of Hormuz has certainly helped investors react more moderately to the latest escalation,” she added. Investor confidence remained shaky, however, after last week saw markets whipsaw on growing concerns about a tech bubble fueled by the AI boom.

Tech firms were again in the spotlight, with South Korean chip makers SK hynix and Samsung extending last week’s selling and weighing on Seoul’s Kospi. South Korea said Monday it would invest nearly US$1.2 trillion -- equivalent to more than two-thirds of its GDP -- in a new chip-building hub and AI data centres over several years.

China claims new intelligence systems can challenge Anthropic’s Mythos

Chinese artificial-intelligence systems have matched the performance of Anthropic’s powerful model Mythos in some cybersecurity scenarios, a development poised to reset the global tech race and pressure the White House in its overhaul of U.S. AI policy.

Security researchers said that a new AI model, released this month by China’s Zhipu AI, also known as Z.ai, can match the latest U.S. models when it comes to finding security bugs, although it still lags behind Anthropic’s and OpenAI’s products in other tasks. Overall, the capability gap between top U.S. models and those built by Chinese companies has narrowed significantly, and use of Chinese AI systems has surged as businesses seek to rein in runaway costs. A host of companies, including Microsoft, are weighing how they can offer Chinese models on their platforms, a development that is set to alter the balance of power among tech companies.

Magna Mining has a record quarter

Magna Mining (NICU.TO) shipped 91,724 tonnes of ore from its McCreedy West Mine to Vale Base Metals’ Clarabelle mill in Sudbury, Ontario, with four days remaining in the second quarter, the company said Monday.

The shipment is a quarterly record and beats the 84,953 tons of ore produced in the fourth quarter of 2025. The average grade of the 66,445 tonnes of ore shipped in April and May is 3.55% copper equivalent. Final assays are pending for ore shipped in June. Underground development at McCreedy West during the quarter is anticipated to exceed 2,350 feet, also a record under Magna ownership.

McCreedy West has achieved a Total Reportable Injury Frequency Rate (“TRIFR”) of 0.0. Jeff Huffman, COO of Magna, stated, “Our team at Magna has made several significant achievements during Q2, both operationally at McCreedy West as well as at our various development projects in the Sudbury Basin. In addition to achieving record quarterly tonnage shipped at McCreedy West, we anticipate the average grade during the quarter to be near the upper end of our 2026 annual guidance and we have also set a record in terms of underground development during the quarter which will help support production rates in the second half of 2026. Most importantly, we are now over one year of operations at McCreedy West without a reportable injury, an impressive achievement by our team which speaks to our strong safety culture.”

Canada’s first offshore wind farms move closer to reality

Development of Canada’s first offshore wind farms took a significant step forward late Friday when Nova Scotia’s offshore energy regulator released the names of companies qualified to bid on seabed licences.

The Canada-Nova Scotia Offshore Energy Regulator identified five companies and two groups of companies that won approval after taking part in a review process between October 2025 and January of this year. The eligible companies were required to meet certain financial, technical, legal and social criteria to prove they are capable of completing offshore wind projects. The regulator, however, said the companies that met eligibility requirements had the option of keeping their status confidential, which means the names of some participants may remain a secret at this stage. Meanwhile, the federal-provincial agency confirmed a formal call for bids will be issued some time later this year. And those bids will be subject to ministerial reviews at the federal and provincial levels. So far, the approved companies are based in Canada, Belgium, China, Ireland, Luxembourg, Singapore, Switzerland, South Korea and France. In January, a spokesman for one of the companies, Q Energy France, said its estimated timeline for commissioning offshore turbines would be sometime in 2035.

Comcast splitting into two companies

Comcast, just months after shedding most of its cable TV business into Versant Media, is cleaving itself into two separate companies: one housing its namesake cable and tech operations, and the other comprising NBCUniversal media biz. Under the proposed separation, announced Monday, Comcast intends to make a tax-free spin-off of NBCUniversal and Sky.

After the transaction is completed, Comcast shareholders will own shares in both Comcast and NBCUniversal. The split will create “two focused industry leaders, each with significant scale, strong financial profiles and distinct strategic opportunities,” the media conglomerate said. Comcast expects to retain a stake of up to 19.9% ownership position in NBCUniversal for up to one year after the completion of the spin, which it intends to monetize in a tax-efficient manner over time. Mike Cavanagh will be the CEO of NBCUniversal while Comcast’s former CFO Michael Angelakis will become the CEO of Comcast. Goldman Sachs and PJT Partners are serving as financial advisors to Comcast.

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2026-06-26

[Bnn Bloomberg Canada]: Carney pushes back on Hoekstra comments

Prime Minister Mark Carney says Canada will not accept a bad deal from U.S. President Donald Trump, but will work with the U.S. and Mexico to “modernize” the Canada-U.S.-Mexico trade agreement. Carney also pushed back on comments from the U.S. ambassador to Canada, Pete Hoekstra, who recently said Ottawa and Washington were nowhere close to a deal to renew the trilateral pact. Carney notes that progress on deals with Trump is hard to gauge, adding that Canada must be ready to cut a deal if an opportunity arises. The comments come less than a week before the July 1 deadline for all three countries to declare if they want to renew or review the North American pact. Trump has said he won’t renew the agreement.

Bloomberg: Lutnick intervened to delay bridge opening

Bloomberg is reporting that U.S. Commerce Secretary Howard Lutnick intervened to delay this month’s opening of the Gordie Howe bridge. According to the report, Lutnick is also pressing to renegotiate for a larger share of the toll revenue as well as other provisions. Canada paid $6.4 billion for the bridge. Under the current deal, the federal government will collect the tolls until the costs are recovered, after which they would be split with Michigan. The white house is on board with Lutnick’s changes.

RBC fined for consumer violation

The Royal Bank of Canada has been fined for a violation of the Bank Act. The Financial Consumer Agency of Canada fined RBC $4.25 million for violating a consumer provision by failing to transfer credits from deactivated credit card accounts to customers’ new accounts. The agency says the violation occurred when RBC deactivated and migrated credit card accounts when fraud was reported. A total of 227,947 accounts has been affected between 2001 and 2024. The lender has since paid the penalty and has transferred and refunded more than $22 million.

Corus posts deeper loss in Q3

Corus Entertainment posted a deeper loss in its third quarter. Revenue fell 16 per cent during the period, falling short of analysts’ estimates. The broadcast company also saw revenue in its radio segment decline 15 per cent compared to the same period the year before. Corus says it continues to see pressure on linear television advertising demand. On the upside, profit topped estimates and Corus saw significant savings from cost management initiatives.

Why Wall Street loves Amazon

Amazon has long been one of the most loved stocks among analysts. That’s partly because of the company’s commitment to reinvention, which is on full display again in the AI era. BNN Bloomberg contributor Jon Erlichman shares the Ticker Take breakdown on Amazon’s stock.

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2026-06-25

[Bnn Bloomberg Canada]:  easing on Chinese tariffs on canola, peas and seafood may be coming

International Trade Minister Maninder Sidhu says more relief from Beijing’s tariffs that remain on Canadian canola, peas and seafood will be on the negotiating table when he meets with his Chinese counterpart in the fall. The meeting will likely take place in November in Shenzhen, GD., the site of this year’s Asia-Pacific Economic Cooperation Summit (APEC) hosted by China. Earlier this year, Prime Minister Mark Carney was able to secure lower tariffs on agriculture and food products, in exchange for slashing Canadian duties on Chinese EVs and allowing an annual quota of 49,000 electric vehicles into the domestic market. While the EV deal lasts five years with quotas increasing annually reaching 73,000 vehicles by 2030, the reduction of duties on canola products only lasts until the end of 2026. Sidhu says the government wants to “present certainty to our farmers,” and that he will be sitting down with his Chinese counterpart and his deputy minister to discuss the issue. The minister made the remarks during a 15-minute interview with CTV News in Tokyo, where Sidhu is hosting a Team Canada Trade Mission to Japan. Sidhu was asked if the Chinese wanted more access for their EVs, in exchange for better terms for Canadian canola. “I would say that’s a conversation that I’m not going to probably have through the media,” he said. “But I mean, we’re going to continue to have conversations with the Chinese on what more we can do economically together.”

Micron rising on stellar forecast

Micron Technology Inc., the largest U.S. maker of computer memory chips, surged in premarket trading after its quarterly sales forecast crushed Wall Street estimates, signaling that an AI-fueled growth run remains strong. Revenue will be approximately $50 billion in the fiscal fourth quarter, which runs through August, the company said in a statement Wednesday. Analysts estimated $43.2 billion on average. Excluding some items, profit will be about $31 a share, compared with a projection of $25.31. Micron also has secured 16 strategic customer agreements, which average three years in length. That suggests the company can mitigate the boom-and-bust cycles that have plagued the memory chip industry, said Bloomberg Intelligence analyst Jake Silverman. “This should sustain upward pricing revisions through at least 2027, albeit at a decelerating pace,” he said in a note. “The agreements can also reduce pricing volatility as supply catches up to demand by around 2029, we calculate.” Micron shares climbed about 17 per cent in early trading before markets in New York opened Thursday. They had already more than tripled this year, outpacing all other major U.S. chip stocks.

Blackberry comeback continues

BlackBerry shares were up on the news it lifted its fiscal 2027 outlook on higher first-quarter results, driven by embedded-software growth and expanding opportunities with artificial intelligence. BlackBerry, whose name was once synonymous with the early smartphone era, sees growing opportunities in its general embedded management platform, which helps run AI-enabled industrial and robotic systems as companies look to bring AI into machinery. Investors have increasingly focused on the technology’s potential as a new growth avenue beyond BlackBerry’s core automotive software business, a trend that has helped drive the stock to more than double since the start of the year. BlackBerry now sees fiscal 2027 revenue of $594 million to $621 million, higher than its previous forecast of $584 million to $611 million. The increase comes partly from higher QNX revenue targets, now at $295 million to $312 million, up from $290 million to $307 million previously, but still in line with analyst guidance of $301.1 million, according to FactSet. On an adjusted basis, which strips out exceptional items and one-off costs, earnings came to 4 cents a share, ahead of both its own guidance range of 2 cents to 3 cents, and analyst expectations of 3 cents a share, according to FactSet. Revenue rose 26 per cent to $152.9 million, topping its own guidance range of $132 million to $140 million and analyst expectations of $137.2 million.

Jamieson Wellness may be going private

Jamieson Wellness Inc., the Canadian vitamins and supplements maker, is working with Bank of Montreal and Canaccord Genuity Group Inc. to explore a sale. The Toronto-based company has begun reaching out to prospective bidders, including private equity firms and corporate suitors, according to people familiar with the matter who asked not to be identified discussing confidential information. Jamieson confirmed it has started a process with its bankers by issuing a statement late Wednesday following a Bloomberg News report. The company said it’s received an unsolicited proposal, and there’s no assurance any talks will result in a deal. “If it does not, the Board of Directors remains committed to, and confident in, its current strategic plan.” Jamieson rose 0.3 per cent to C$36.39 in Toronto trading Wednesday, giving the company a market value of about C$1.5 billion ($1.1 billion). Jamieson sells vitamins, minerals and supplements under its namesake brand as well as youtheory, Progressive and Smart Solutions. The company reported first-quarter revenue growth of more than 16 per cent year over year. Representatives for BMO and Canaccord declined to comment.

Oil back to pre-war prices

Oil prices slipped back to levels seen before the Iran war as tanker traffic through the Strait of Hormuz picked up and a wave of supply trapped inside the Persian Gulf for months started flowing again. The most actively traded Brent futures contract, which expires in July, fell 1.3 per cent to $72.88 a barrel in midmorning European trading on Thursday, while the U.S. oil gauge West Texas Intermediate was down 1.2 per cent to $69.44 a barrel. Both benchmarks have fallen nearly 30 per cent so far this month. “The market is likely extrapolating the swift, thus far, recovery of Mideast supply and already pricing expected future surpluses,” analysts at Goldman Sachs said. The reopening of the key waterway and a U.S. waiver on Iranian oil sales following an interim deal between Washington and Tehran marked a significant turning point for Gulf crude markets. Transits of Middle Eastern crude via Hormuz have risen to about 4.9 million barrels a day so far in June, according to data provider Kpler. That remains well below the 2025 average of roughly 13 million barrels a day, but marks a clear rebound from the depressed levels seen during the war. The pickup in transit reflects both an increase in vessel crossings through the waterway and a greater share of ships turning their tracking signals back on.

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.

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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.