AGP Executive Report

Digital Safety Overhaul: Canada tabled the “Safe Social Media Act” to bar under-16s from using social media unless platforms prove safeguards, while also tightening rules for AI chatbots and creating a Digital Safety Commission; penalties could reach the greater of $10M or 3% of global revenue. Monetary Policy Watch: The Bank of Canada held its policy rate at 2.25% for a fifth straight meeting, citing limited pass-through from higher energy prices but warning it may need to act if Middle East-driven oil shocks feed into broader inflation. Markets Sentiment: Canadian and U.S. stocks slid as tech weakened and oil rose on renewed U.S.-Iran tensions, with investors weighing inflation data and AI stock volatility. Aviation Credibility: An ex–Air Canada captain faces allegations he flew hundreds of flights for years using a fraudulent pilot licence, raising concerns about airline oversight and international trust. Housing Legal Risk: In a slower 2026 Milton market, buyers are being urged to get legal help to avoid contract and closing pitfalls as days-on-market rise. Local Business & Community: Sarnia Lambton Chamber of Commerce again topped fast-growing mid-sized chambers, while Cambridge announced its second Canada Day celebration with federal funding and major sponsors.

Canada–U.S. Trade & Infrastructure: Prime Minister Mark Carney says the Gordie Howe International Bridge may open later than planned, after Trump threatened to block it—Friday’s ribbon-cutting is set, but traffic timing could slip. Monetary Policy: The Bank of Canada held its policy rate at 2.25% for a fifth straight meeting, citing weak growth, rising inflation from higher energy prices, and a “dilemma” as it tries to avoid persistent inflation. Housing Costs: StatCan data shows asking rents easing in many metros, with notable drops in Toronto, Montréal, Vancouver and Ottawa–Gatineau. Telecom Regulation: Canada’s telecom-TV complaints watchdog (CCTS) reports most audited providers still fall short on public awareness rules. AI & Legal Services: A new report warns AI search tools are creating a “visibility gap” for Canadian law firms that don’t show up in AI-driven summaries. Business Expansion: CanAssistance and Desjardins announce a major 10-year strategic partnership, including CanAssistance’s acquisition of Assistel. Energy Markets: Woodfibre LNG’s CEO says global buyers are increasingly viewing Canada as a stable LNG supplier. Cyber Risk: Norton Rose Fulbright’s midyear survey finds cybersecurity and data privacy disputes are rising across major Canadian-linked sectors. Investment Climate: Canada ranks second globally for foreign direct investment confidence in 2026, behind the U.S. Local Business & Tourism: Banff is considering higher business licence fees for B&Bs to reflect their commercial impact on housing supply.

Canada–U.S. Trade & Infrastructure: Prime Minister Mark Carney says the Gordie Howe International Bridge will open by the end of the week, despite Trump’s earlier threats—an extra crossing aimed at easing one of the busiest border bottlenecks. Aviation & Compliance: Peel police have charged former Air Canada captain Geoffrey Wall with fraud and forged documents, alleging he flew 900+ domestic and international flights from 2009 to 2025 without the required airline transport pilot licence. Energy & Investment: ADNOC, via its XRG arm, is looking at Canada’s upstream and LNG opportunities, while Alberta’s Meadowbrook Carbon Storage Hub opened near Legal with plans to scale CO2 storage. Cybersecurity: CrowdStrike reports Chinese state-backed hackers are the top tech-sector espionage threat, with tech the most targeted industry. Sanctions & Geopolitics: France banned Israeli Finance Minister Bezalel Smotrich from entering, as Canada and other allies expand sanctions tied to West Bank settler violence. Labour & Pay Equity: A report using Upwork data finds Canada’s gender wage gap is bigger for white-collar freelancers, with women charging less on average. Markets & Finance: Apotex priced an upsized IPO at the top of its range, raising about C$1.3B. Business & Risk: A Canadian “late payment” tip highlights how small firms can protect cash flow with clear, lawful late-fee policies. Sports & Tourism: World Cup hotel-booking data suggests Canada and Mexico are outpacing the U.S. in match cities, even as price-sensitive fans hold back.

Health Policy & Pharma: Health Canada has approved GSK’s Nucala (mepolizumab) as an add-on maintenance treatment for adults with COPD who have raised blood eosinophils and are not adequately controlled on standard inhaled therapy, with the decision backed by Phase III MATINEE, METREX and METREO trial results. Public Safety & Community Support: The federal government is investing $3 million over two years to help Fierté Canada Pride strengthen safety and security for Pride festivals, citing rising hate and harassment risks and the cost of security and insurance. Trade & Macro: Canada’s merchandise trade surplus rose again in April, with economists saying higher energy prices boosted the headline numbers while other areas show more uneven momentum. Retail Expansion: UNIQLO will open five new stores across Canada this fall, adding locations in Winnipeg, Brossard, Tsawwassen, Richmond Hill and Waterloo. Aviation & Regulation: Peel Regional Police have charged a former Air Canada pilot accused of flying as an airline captain for years without the required airline transport pilot licence, while Air Canada says safety wasn’t compromised and no other cases were found in its audit. Tech & Investment: Nuvei is in advanced talks to buy Payoneer for about $2.7 billion, aiming to scale cross-border and B2B payments. EV & Capital Markets: Hypercharge was named co-winner of the Canada Growth Cup at Peterson Capital’s Growth Conference, following its acquisition that expanded its EV charging footprint. Data, Energy & AI Infrastructure: Alberta is pitching cheap natural gas to attract data centres for the AI boom, a move critics say could clash with Canada’s push for cleaner power to run new capacity. Elections Compliance: The Commissioner of Canada Elections has published six administrative monetary penalties tied to Canada Elections Act violations, including political financing breaches. Sanctions & Foreign Policy: Canada has added more individuals and entities tied to “extremist settler violence” in the West Bank, drawing pushback from Israel.

Canada Groceries and Essentials Benefit: The CRA has started one-time top-ups under the new program, sending $3.1B to about 12M low- and modest-income Canadians, with enhanced quarterly payments set to begin in July. Equal Pay Rules: Federally regulated employers must follow new equal pay provisions starting Oct. 20, 2026, covering substantially similar work across full-time/part-time and other employment-status differences. Trade Pressure: The U.S. says Canada isn’t enforcing its forced-labour import ban and is floating an extra 10% tariff on Canadian goods (with USMCA-compliant items exempt), raising questions about Canada’s domestic labour and immigration enforcement. Online Streaming Act: Broadcasters are pushing back on Ottawa’s plan to roll back parts of the Online Streaming Act, arguing foreign streamers shouldn’t get a free pass on funding Canadian content. Tech & Capital Markets: Thoma Bravo is set to buy Toronto software firm Kneat.com for about CAD $650M, continuing a wave of Canadian tech takeovers. Labour & Hospitality: Unifor members ratified a new Fairmont Empress contract with big wage gains and expanded mental health benefits. Food Security: Food Banks Canada named Egg Farmers of Canada, Loblaw and PepsiCo Foundation among top 2025 partners for product and funding support. Energy & Supply Chains: Canada tightened livestock import rules after new Texas screwworm cases, while cross-border connectivity deals (like Uniti Wholesale with Beanfield) underline ongoing data-centre buildout demand.

Aviation Relief: Ottawa is offering airlines loans of up to $150 million each to offset surging jet fuel costs, with conditions including buying Canadian and keeping jobs. AI Strategy: Canada launched “AI for All,” aiming to protect sovereignty, build public trust and scale up businesses, while critics warn the bigger issue is data gaps in sectors like food. Manufacturing Priorities: A new 2027 Advanced Manufacturing Outlook Survey is polling Canadian manufacturers on cost pressures, workforce constraints, supply-chain risk and asset performance. Cybersecurity Contracts: Plurilock landed $1.13M in new critical services work across semiconductors, consumer storage and mining. Defence Procurement: Canada is evaluating a mixed fighter plan of about 140 jets, pairing F-35s with Saab Gripens to reduce reliance on U.S. supply chains. Markets & Business: Canadian stocks stayed in positive territory as investors looked for bargains. Sports Economy: Toronto is preparing for World Cup crowds with a major police deployment and transit changes. Investing & IPO Buzz: Ontario Teachers’ Pension Plan could see a SpaceX IPO windfall worth up to about $11B. Local Growth: AAA Heating & Plumbing is expanding into Edmonton and Red Deer.

Canada-US Trade & Security: Two U.S. lawmakers unveiled a bill to block Chinese-connected vehicles from entering the U.S. via Canada and Mexico, citing data-collection and surveillance risks. Energy & Cost Pressure: Fuel prices are shaping summer plans as boaters weigh higher gasoline and diesel costs, while seafood shops report rising input and transport expenses feeding through to shoppers. AI & Data Infrastructure: An IBM study finds CIOs/CTOs are accountable for AI systems they don’t fully control, as governance lags behind faster enterprise deployment; separately, hyperscalers are tapping international bond markets to fund AI data centres. Federal Policy & Media: Ottawa is set to direct the CRTC to roll back key Online Streaming Act requirements for foreign streamers funding Canadian content. Defence Spending: Mark Carney says Canada is moving with “unprecedented speed” on record defence investment and pay hikes, aiming for NATO targets. Markets: Asia slid after a tech selloff, with inflation and the upcoming SpaceX listing in focus. Business & Growth: Vietnam and TFO Canada are shifting to a strategic trade partnership aimed at boosting SMEs, women-led and rural firms. Regional Watch: New Brunswick will require bilingual front-line services for federally regulated businesses, raising concerns for rural bank access.

Jobs & Rates: Canada added 88,000 jobs in May and cut unemployment to 6.6%, a stronger-than-expected labour market that could cool Bank of Canada rate-cut hopes. Inflation Watch: CPI rose 2.8% year over year in April, with gasoline and energy driving the jump—keeping pressure on household budgets and investor sentiment. Trade & Diplomacy: PM Mark Carney heads to Ireland and France ahead of the G7, with an eye on deepening trade, defence and tech ties as leaders grapple with how to “manage Trump” and rising tariff risks. Aviation & Connectivity: Air Canada and Abra Group signed an MoU to expand long-term partnership across the Americas, including codeshare and loyalty integration. Energy & Industry: LNG Canada expansion work moves ahead as Fluor/JGC’s venture gets a limited notice to proceed for Phase 2. AI & Real Estate: A proposed Hamilton industrial waterfront AI data-centre plan faces local pushback over environmental and land-use concerns. Wildfire Work Classification: Critics say Canada’s wildland firefighters are often misclassified under forestry rules, affecting recognition and status. World Cup Commerce: U.S. officials warn fans about counterfeit World Cup merchandise and banned items as security and trade enforcement ramp up.

Jobs & Rates: Canada added 87,800 jobs in May and unemployment fell to 6.6%, a bigger-than-expected rebound that could cool Bank of Canada rate-cut hopes. Cybersecurity Law: Parliament passed Bill C-8, creating a mandatory cybersecurity framework for critical infrastructure, while privacy watchdogs warn the government’s new powers may be too broad. Trade Uncertainty: The U.S., Mexico and Canada are set to miss the July 1 USMCA review deadline, extending a period of supply-chain and tariff uncertainty. Livestock Biosecurity: Canada temporarily banned Texas livestock imports after New World screwworm was detected in the U.S., with measures tied to animals’ recent presence in Texas. Postal Sector: Canada Post reported a $205-million pre-tax loss in Q1 as volumes and revenue fell, underscoring its transformation push. Small Business Tech Grants: Okanagan credit union partners are restarting “Level Up Local” grants of up to $3,000 for digital upgrades. AI Governance: Anthropic urged a coordinated pause option for advanced AI development as risks grow, while others argue pace should be set by governments. Energy Dealmaking: Kelowna’s RWT Capital helped broker the sale of Alberta’s H2Oil Energy to Ontario’s GFL Environmental, signaling continued consolidation interest in energy services.

Jobs & Rates: Statistics Canada says Canada added 87,800 jobs in May and the unemployment rate fell to 6.6%, with full-time hiring driving the surprise—an outcome that could shift Bank of Canada rate-cut expectations. Local Labour: Greater Sudbury also saw a jobs mix improvement: 900 full-time positions added in May, offset by 600 fewer part-time roles, while unemployment edged up to 6.4%. Energy & Trade: Prime Minister Mark Carney spoke with Indonesia’s President Prabowo Subianto, focusing on energy-market impacts and pushing forward the Canada-Indonesia CEPA to cut tariffs and expand clean tech, agri-food, critical minerals and financial services. Aviation & Travel: Air Canada is suspending Cuba service indefinitely amid political and economic uncertainty. Defence Industry: South Korea’s HD Hyundai broadened its Canada Patrol Submarine bid pitch in Ottawa, tying submarines to wider energy and industrial supply-chain offers. Labour Organizing: Walmart warehouse workers in Canada signed the first-ever collective agreement with the retailer, a major step for union drives in distribution. World Cup Business: FIFA reversed part of its water-bottle stance, allowing sealed bottles in U.S. and Canada stadiums after backlash.

AI Strategy Launch: Prime Minister Mark Carney unveiled “AI for All,” aiming to lift AI adoption from just over 12% to 60% by 2034, add $200B in growth, and create 250,000 AI jobs, with new legislation and literacy programs to build trust and protect Canadians. Trade & Uncertainty: Canadian business leaders are split on how to handle USMCA talks, with some urging faster certainty and others warning against concessions without guarantees as July 1 review deadlines loom. Cost of Geopolitics: A report estimates Iran conflict-driven fuel spikes could cost Ontario households about $648 more this year, pushing gasoline and diesel higher. Food & Agriculture: CFIA backed down on proposed beef traceability changes after industry backlash, while also moving to limit livestock imports from Texas after a confirmed flesh-eating screwworm case. Markets & Jobs: Canada’s economy added about 88,000 jobs in May and unemployment fell to 6.6%, even as investors weigh rate and recession chatter. Retail & Consumer: Loblaw confirmed No Name frozen juice from concentrate is returning nationwide ahead of late June. Sports Business: UFC is shifting Canadian numbered-event main cards to Paramount+ starting in 2027, ending the pay-per-view model for those events.

Jobs & Recession Debate: Canada added about 88,000 jobs in May and cut unemployment to 6.6%, but the C.D. Howe Institute says it’s too early to call a recession despite two quarters of GDP contraction. Monetary Policy Watch: A Reuters poll suggests the Bank of Canada is likely to hold its policy rate through 2026 as core inflation risks from energy look manageable. USMCA Uncertainty: The U.S., Mexico and Canada are set to miss a July 1 USMCA renewal deadline, raising the odds of months of trade haggling and tariff uncertainty. AI Push: Ottawa launched “AI for All,” targeting $200B in economic gains, 250,000 AI jobs, and faster work-permit processing for AI professionals. Telecom & Infrastructure: A new analysis argues Canada’s telecom remains overly private versus peers, while Spartan Controls opened a Kitimat facility to support growing industrial and energy demand. Energy & Resources: A Canadian miner is betting on rare-earth refining in Brazil to reduce China dependence, and a lobster exporter warns of collapsing margins amid weak global demand.

AI Strategy Rollout: Prime Minister Mark Carney unveiled “AI for All,” aiming to lift business adoption from just over 12% to 60% by 2034, create up to 250,000 jobs, and add as much as $200B in economic growth, backed by a $500M fund for AI firms and major data-centre compute plans. Labour & Trust Debate: Critics and unions say the plan underplays job-loss risk and regulation, while polling suggests a public trust gap. Finance & Labour: Canada Post workers ratified new collective agreements through Jan. 31, 2029, ending a two-year dispute that included strikes and federal intervention. Trade & Supply Chains: Canada and South Korea deepened an energy and critical-minerals partnership with potential CA$100B economic impact, while Ottawa also moves to reinforce forced-labour import measures amid U.S. tariff threats. Forestry Shake-up: Forest ministers agreed old timber approaches won’t work, pointing to homegrown barriers like regulation and underinvestment, with an action plan coming. Aviation Safety: Transport Canada issued an emergency order over possible PW210 turboshaft crack risks on AW169 and S-76 helicopters. Banking Deal: Scotiabank announced plans to acquire U.S. MapleMark Bank, pending approvals.

AI Strategy: Prime Minister Carney unveiled “AI for all,” aiming to close Canada’s AI adoption gap with free AI training, new rules for safer chatbot interactions, and privacy protections—plus a C$500M tech growth fund to help homegrown AI firms scale. Retail & Consumer Tech: Walmart+ launched in Canada with a 30-day free trial, offering delivery and Crave Standard bundled for $8.97/month or $89/year. Energy & Jobs: Oil and gas drillers are “making money” with May’s busiest drilling activity since 2014, as rig demand rises with higher prices. Markets Watch: CIRO issued multiple trading halts and resumptions across TSX/TSX-V names including TransAlta (TA), Power & Infrastructure Split (PWI), PROREIT (PRV.UN), Stuve Gold (STUV) and Touchstone Exploration (TXP). Payments & Fintech: Zoth secured FINTRAC MSB registration to expand regulated stablecoin-based cross-border payments in Canada. Business & Hiring: As AI changes hiring, more Ontario employers are seeking independent verification of credentials and experience. Sports & Travel Economy: Air Canada is banking on efficient Airbus aircraft as it explores new routes. Local Business: Bennett’s Furniture marks 100 years in business.

Energy & M&A: TransAlta will buy two Blackstone-backed Colorado gas-fired peaking plants for about $1B, adding 318 MW of long-term contracted capacity and targeting cash-flow growth tied to data-centre demand. Trade Policy: Canada will extend U.S. steel and aluminum tariff-rate quotas and relief for one year, aiming to protect workers while seeking longer-term certainty as sectoral tariff talks continue. Economy Watch: New data keeps the “technical recession” debate alive after GDP flatlined for a second straight quarter, with analysts pointing to broader uncertainty beyond the headline numbers. Culture & Regulation: Ottawa ordered the CRTC to revisit its plan to triple required contributions from foreign streamers like Netflix to Canadian content, with the government saying it will instead invest hundreds of millions to keep culture affordable. Labour & Social Support: The GST credit top-up starts landing for eligible Canadians, adding 50% to the annual amount received over the last GST credit period. Business & Capital Markets: Bell amended cash tender offers to repurchase multiple series of debentures, while B.C.’s securities regulator issued its first whistleblower award under a new program. Forestry Crisis: Federal ministers announced another $130M for forestry as a task force warns the sector’s “existential risk” is driven largely by homegrown structural problems. Cyber & Data Centres (Global): Multiple market reports highlight fast growth in industrial cloud, penetration testing, security assurance and data-centre colocation as cloud and cyber risk rise.

Trade & Supply Chains: Prime Minister Mark Carney says Canada will soon introduce forced-labour legislation after the U.S. proposed new tariffs of at least 10% on 60 trading partners, including Canada, tied to forced-labour supply-chain claims; Carney calls the goal to eliminate forced and child labour “overall” supported, with the tariff plan reportedly not applying to goods compliant under CUSMA. Culture Policy: Ottawa is telling the CRTC to reverse its plan to triple streamers’ Canadian-content contributions, opting instead for $600M in federal support to keep Canadian culture “accessible and affordable.” Energy & Infrastructure: Brookfield is pushing into AI infrastructure at scale, drawing questions about how it hedges against tech disruption. Climate Tech & Industry: Canada’s forest-sector transformation push highlights jobs and community support as ministers meet to tackle fibre supply and trade pressures. Business & Capital Markets: Concert Properties and a Brookfield affiliate form a JV for a roughly $1B Canadian industrial portfolio. Mining & Nuclear: Orano Canada and Cameco agree to jointly acquire TEPCO’s 5% stake in the Cigar Lake JV, boosting Orano’s ownership to 42.582% and Cameco’s to 57.418%.