AGP Executive Report

Philippines-Canada Ties: President Ferdinand Marcos Jr. landed in Vancouver for a July 1-4 official visit, aiming to deepen trade and security cooperation with PM Mark Carney and business leaders. USMCA Shock: The U.S. says it will not renew the US-Mexico-Canada deal “in its current form,” moving the pact into annual reviews and raising fresh uncertainty for Canadian exporters and consumers. Energy Efficiency Push: Dozens of countries, including Canada, backed energy efficiency as a cornerstone of policy at an IEA conference in Montreal, citing lower costs and stronger energy security. AI Financial Worries: Economists and central bankers warned the AI boom could amplify leverage and debt risks, potentially destabilizing markets and jobs. Canada’s Nuclear Gamble: Commentary questions Ottawa’s push toward a nuclear-heavy electricity future, including SMRs and faster approvals, over cost, safety, and security concerns. Finance Rules Update: Canada’s securities regulators finalized “access equals delivery” changes for annual financial statements and MD&A, with a Sept. 22, 2026 start date. World Cup Ripple: Canada’s historic run is already boosting local soccer interest in places like Regina.

USMCA/CUSMA Trade Talks: The U.S., Canada and Mexico have started the process to renew their North American trade pact, but automakers are bracing for possible rule changes as Washington pushes for more U.S. manufacturing content and talks with Canada are still not formal. Border & Drugs: U.S. officials say drug seizures at the U.S.-Canada border are down 55% year over year, even as drugs are increasingly found after routes through Mexico. Energy & Industry: First Mining won federal environmental approval for its Springpole gold project, clearing the way for major jobs and regional economic impact in Northwestern Ontario. Aviation: Air Canada and EPCOR signed a long-term support deal for the GTCP131-9A auxiliary power unit as the airline modernizes its fleet. Tech & Finance: Brock University is warning that prediction markets coming to Canada could reward insider info and even put “a price tag” on war and peace. Public Services & Cost of Living: Metro Vancouver raised TransLink fares on July 1, keeping bus costs low but increasing commuter costs under a zone-based system. Canada Day Disruptions: Heat and weather forced some Canada Day plans to shift, including a Sudbury call to move a water trailer to a city encampment. Sports & Culture: NHL free agency kicked off with major Canadian signings and extensions, while Canada’s Eurovision debut for 2027 was confirmed.

Corporate Filings: Jiminex Inc. filed amended and restated Q2 financial statements and MD&A after accountants flagged material omissions, including a corrected reference to the prior financial year. Food Prices & Competition: Canada’s Competition Bureau launched a broad review of the food supply chain—from farm inputs to grocery shelves—aiming to understand why prices stay high, with a report expected in 2027. Auto Insurance (Ontario): New rules starting July 1 make nine accident-benefit types optional, potentially lowering premiums but raising risk for drivers who opt out. Energy & Data Centres: A U.S. energy chief argued data-centre concerns are “overblown,” while Canada continues to debate how to power AI growth. Canada Day Weather (Ontario/Quebec): Severe weather risk has some celebrations in peril, with heat and storm threats prompting cooling-centre and beach/pool adjustments in Greater Sudbury. Markets & Bonds: Foreign investors bought a record amount of Canadian federal bonds in April, helping keep borrowing costs lower. Politics: Pierre Poilievre shuffled Conservative shadow-cabinet roles, including Michael Chong taking over as finance critic.

Canada-U.S.-Mexico Trade: Prime Minister Mark Carney says he expects a “constructive exchange” as the US signals it won’t renew USMCA on July 1, setting up a long review process. Federal Politics: Poilievre shuffled his front bench, naming MP Michael Chong as the new finance critic and moving others to new roles, amid an ethics committee review tied to Ottawa’s condo buyout plan with B.C. Economy Watch: StatCan reports Canada’s GDP rebounded 0.5% in April after a contraction, easing recession talk but not yet pushing the Bank of Canada toward rate cuts. Energy & Industry: Canada wrapped up the IEA Global Conference on energy efficiency in Montreal, while Ottawa also announced a $688M RADARSAT replenishment satellite contract with MDA Space. Markets: The S&P/TSX edged higher in late-morning trading as US stocks also rose. Local & Community: Winkler invited residents to a free Canada Day celebration July 1, and Foothills County completed a $1.6M energy-efficiency upgrade at a sports rink.

Submarine Race: Ottawa is expected to choose a winner in its massive patrol submarine procurement before the July 7 NATO summit, with Defence Minister David McGuinty warning that splitting the fleet between South Korean and German bidders could drive up costs and complicate maintenance. World Cup Fever: Canada’s historic 1-0 win over South Africa drew huge TV numbers, and fans are already lining up for Round of 16 viewing parties in Kelowna’s Waterfront Park. Energy Bills Help: B.C. is expanding no-cost home energy retrofits for lower-income households, including heat pumps, through a $222M program backed by federal and provincial funding. Pesticide Policy Fight: Critics say a new federal law could let cabinet authorize pesticide use for “economic security” or “national food security,” even if Health Canada previously banned certain products. Identity & Security Tech: LoginRadius launched Directory Sync to automate user onboarding and instant access revocation for B2B SaaS, aiming to reduce “orphaned” accounts. Markets & Trade: Oil prices moved on Middle East tensions, while Canada’s economy and trade outlook remain in focus amid CUSMA uncertainty.

Canada Greener Homes expansion: Ottawa is extending the Canada Greener Homes Affordability Program to Quebec, B.C., Nova Scotia and P.E.I., adding $500M total funding (with $300M federal) to retrofit 35,000+ low- and median-income households with heat pumps, insulation and air sealing at no up-front cost. AI infrastructure deal: HIVE’s BUZZ HPC has closed a three-year, ~$310M sovereign AI GPU contract with Bell AI Fabric and Cohere, building a production-grade “Canadian AI stack” in Merritt, B.C. Venture capital squeeze: RBCx says Canada’s VC market is tightening hard—Q1 2026 fundraising for early-stage startups is down 40% year over year, with capital increasingly concentrated in a few large funds. Natural hydrogen push in Quebec: Vema Hydrogen begins natural hydrogen test drilling in Quebec, aiming to assess geological hydrogen reservoirs using modified rigs and phased flow testing. Labour disruption warning: Jobs Minister Patty Hajdu says earlier engagement could help avoid labour disruptions that spill into critical industries and hurt Canada’s reliability as a trading partner. Business & markets: Light AI closed a $5M secured convertible debenture financing; Ninepoint Partners announced its final June cash distribution for the Ninepoint Cash Management Fund (NSAV). Sports: The Canucks acquired veteran forward Brendan Gallagher from the Canadiens.

World Cup Shock: Canada beat South Africa 1-0 in the Round of 32, with Stephen Eustaquio scoring a stoppage-time winner to reach the knockout stage for the first time ever; Alphonso Davies returned from injury as Canada set up a next match vs Netherlands or Morocco. Marcos in Canada: Philippine President Ferdinand Marcos Jr. will visit Canada July 1–4, meeting PM Mark Carney to discuss defense, economic resilience, energy and critical minerals, and a Canada–ASEAN free-trade push. Energy & Industry: Nova Scotia and Canada prequalified offshore wind bidders ahead of formal licensing later this year, while Health Canada approved Bavarian Nordic’s chikungunya vaccine for ages 12+. Aviation Safety: The FAA issued Boeing directives for aircraft operating in Canadian airspace due to 5G radio altimeter interference. Mining Update: Omai Gold Mines says metallurgical tests at its Guyana project point to gold recovery up to 95%, supporting stronger output plans.

World Cup Knockouts: Canada kicks off the Round of 32 Sunday vs South Africa (3 p.m. ET, Inglewood) after both teams made history—Canada’s first knockout-stage appearance and South Africa’s first time beyond the group stage—setting up a high-stakes clash with Canada listed as the favorite and Jonathan David among the top goal-scoring bets. Sports Fans & Rules: FIFA’s hydration breaks are drawing complaints from supporters who say they disrupt momentum, even as FIFA defends them as a heat-and-recovery necessity. Housing Politics: Pierre Poilievre is urging Parliament to probe Ottawa’s plan to help finance the purchase of 2,200 vacant B.C. condos, calling it a “condo bailout” for developers and investors. EV & Energy Storage: Moment Energy opened a Vancouver megafactory that repurposes retired EV batteries into grid-scale storage, while Geely’s Lotus EVs are set to arrive in Canada in July under a Carney-Xi tariff deal. Climate Impact: A new study warns climate change could make hail bigger and more damaging, with major cost implications for homes and infrastructure. Trade & Diplomacy: Trade talks continue as U.S.-Mexico-Canada renewal uncertainty looms, and the Philippines’ president plans a Canada visit with investment and free-trade negotiations on the agenda.

World Cup Shock & Money: South Africa’s historic World Cup knockout berth sets up a high-stakes Round of 32 vs Canada, with a reported potential R309M windfall if Bafana win—plus big per-player payouts. Canada–China EV Security: A new warning argues China’s EV push into Canada could carry sabotage and grid-disruption risks, as Lotus/Geely shipments are set to arrive under the Carney–Xi deal. Immigration & Students: Canada’s student intake from India is slipping amid visa caps, higher rejections, and tougher financial requirements, while a separate report says Canada is warning ineligible travellers at the U.S. border will be sent back. CRA Service Delays: The CRA ombudsman is investigating long waits on complex T1 tax adjustments, citing potential Taxpayer Bill of Rights issues. Trade & Growth: CPTPP talks move toward Costa Rica and Uruguay membership, with preparatory steps for the Philippines, Indonesia and the UAE. Health Recall: Health Canada warns to stop using certain Amana through-the-wall units due to burn and fire hazards. Energy & Industry: Saskatchewan backs a western/northern critical minerals strategy aimed at faster approvals and better infrastructure. Finance Habits: A piece on Warren Buffett’s “save first” rule says many high-earning Canadians struggle with savings because spending rises right after pay.

World Cup Spotlight: Canada and South Africa meet in the Round of 32 on Sunday in Los Angeles, with South Africa celebrating its first-ever knockout qualification and Canada aiming to carry momentum after a group-stage win over Qatar; Richie Laryea is expected to be key if Alphonso Davies can’t go. Canada–Africa Ties: Prime Minister Mark Carney spoke with South Africa’s Cyril Ramaphosa about trade, investment, energy and agriculture ahead of the match. EV Trade Deal: China’s Geely says Lotus EVs will ship to Canada in July under the Carney–Xi agreement allowing up to 49,000 Chinese EVs annually at reduced tariffs. Energy & Industry: Nova Scotia’s offshore regulator has approved bidders for Canada’s first offshore wind farms, with seabed licence bids coming later this year. Public Safety: U.S., Canadian and Japanese coast guards coordinated the rescue of three people from a disabled sailing vessel in the North Pacific. Finance/Crime: A Punjab-origin man in Brampton faces fraud-related charges tied to a $1.4M Ponzi-style scheme targeting elderly victims. Environment/Climate: Saskatchewan backs a new Western and Northern critical minerals strategy focused on infrastructure, faster approvals and moving supply to market.

Philippines-Canada Trade Push: President Ferdinand Marcos Jr. will visit Canada July 1–4, with talks expected to speed up negotiations for a Philippines-Canada free trade deal and a Canada-ASEAN FTA, alongside defense, energy and critical minerals cooperation. NATO Ally Ties: Turkish and Canadian foreign ministers say they’re working to lift relations to a strategic level ahead of NATO’s Ankara summit, with trade, energy, defense and people-to-people links flagged as key pillars. AI Data Centres in Ontario: NorthVault AI announced plans for an Ontario data centre campus, starting with 4MW of grid power now and targeting 43.75MW by Q3 2027, with a path to 120MW. RBC Penalty: Canada’s financial regulator has imposed a $4.25M administrative penalty on RBC over a Bank Act consumer provision violation. Fraud Crackdown: Peel police arrested a Brampton man accused in a $1.4M Ponzi-style scheme targeting elderly investors. Mining Clean-Tech Funding: Sudbury’s Cambrian College received $1M+ to convert a diesel underground loader into a battery-electric vehicle for real-world testing.

World Cup Round of 32: Canada will face South Africa on Sunday in Inglewood, with coach Jesse Marsch and defender Alistair Johnston calling it a tough test after South Africa’s 1-0 upset of South Korea. It’s also historic for Canada: the host nation will play its first-ever World Cup match outside its borders. Trade & CUSMA: Prime Minister Mark Carney says “bad deals” have been on the table for Canadian industries for months as CUSMA talks continue under tariff pressure. Energy & inflation: Canada’s inflation hit a 29-month high of 3.2% in May, driven mainly by higher gasoline prices, while core measures stayed steadier. Nuclear push: Energy minister Tim Hodgson announced up to $73M for 12 projects to speed critical minerals and related infrastructure, alongside a broader nuclear strategy aimed at adding up to 10 reactors by 2040. Rail update: VIA Rail postponed its annual public meeting to Aug. 25. Business: Cascades released its 2026-2030 sustainability plan with 10 measurable targets, tying ESG priorities to business goals.

World Cup Shock: Switzerland beat Canada 2-1 in Vancouver to win Group B, sending Canada to the Round of 32 in Los Angeles against South Africa. Immigration Planning: Federal and provincial ministers met to shape Canada’s 2027–2029 immigration levels, aiming to balance labour needs with sustainability and system integrity. EV Storage Boom: Moment Energy opened what it calls the world’s largest EV battery repurposing megafactory in Canada, targeting 1 GWh of battery energy storage annually by 2030. AI Infrastructure Push: Toronto firm OpsGuru launched an “Energy Lakehouse Accelerator” to speed up building AI data infrastructure for Canadian businesses. Housing Fight in Media: Quebecor filed to block Corus’s proposed debt restructuring, warning it would weaken Canada’s media industry. Energy Policy Debate: An opinion piece attacks Ottawa’s National Electricity Strategy as relying on demand assumptions and risking budget-busting failures. Corporate Finance: Airwallex raised $320M in a Series H at an $11B valuation to expand AI-native payments and finance software. Local Safety: Toronto police are investigating a fatal escalator-related industrial accident at a North York shopping plaza.

M&A Watch: Merck KGaA has agreed to buy Bio-Techne for about $11.3B, aiming to expand multi-omics tools and end-to-end life-science workflows. Energy & Industry: Moment Energy has officially opened Megafactory 1, billed as the world’s largest EV battery repurposing plant, turning retired packs into grid storage. Payments & Fintech: Kinfos Events launched Instant Payments Summit Canada 2026 in Toronto, focusing on real-time payments, fraud prevention, and cross-border money movement. Food Safety: CFIA says it stopped more than 150,000 kg of misrepresented food from reaching Canadian shelves through targeted testing and enforcement. Finance Regulation: FCAC fined RBC $4.25M over credit-card credit transfer errors affecting 227,947 accounts. Housing in B.C.: Prime Minister Mark Carney defended a rent-to-own plan to convert unsold condos into affordable housing, saying it’s about helping buyers, not bailing out developers. Saskatchewan: Student aid applications opened for 2026-27, and the province also announced a rent-to-own transfer of ten social housing units in Regina. Sports: PWHL star Marie-Philip Poulin will undergo ACL surgery next month and is expected to be out indefinitely.

Canada-Africa Trade: Canada opened its 6th Canada-Africa Business Conference in Lagos, with Prime Minister Mark Carney and Trade Minister Maninder Sidhu pushing deals in energy, critical minerals, agriculture and clean tech. World Cup Shock: Switzerland beat Canada 2-1 in Vancouver to top Group B, sending Canada to the Round of 32 in Los Angeles after a first-ever knockout-stage qualification. Nuclear Push: Turkey’s foreign minister is visiting Canada, starting with a tour of Darlington, as both sides seek deeper cooperation on trade, energy and defence. Court Approval for Mining Deal: Ontario’s Superior Court approved a US$2.2B consolidation of Canadian gold projects in Guyana, setting up a July close and potential TSX delisting. Tech & Data Sovereignty: Montreal AI firm Unryo says it lets network operators run agentic AI inside their own environment without handing over telemetry to a vendor cloud. Energy & Climate Debate: LNG Canada faces renewed criticism after imaging claims emissions and flaring are higher than expected. Local Jobs: Lynden Door plans a new Aylmer manufacturing plant, aiming to create 60–100 jobs. Business & Markets: Prologis made an unsolicited bid for UK data-centre landlord Segro, while Algoma Steel shareholders backed executive compensation despite union backlash.

Bank of Canada Watch: Officials held the policy rate at 2.25% despite a surprise Q1 contraction, saying the economy still shows resilience and that uncertainty (including Iran and the North American trade review) remains the bigger issue. Telecom & Public Safety: Yukon says cellular service “deficiencies” are hurting safety, emergency response and the economy, and has written Bell, the CRTC and Industry Minister asking for stronger regulatory tools. Health Canada & Cannabis Oversight: Health Canada says it adjusts surveillance as needed after a Lakehead University study flagged gaps in tracking new cannabis products and inconsistent potency labeling. Wildlife Emergency: The Syilx Okanagan Nation has filed for an emergency order to protect southern mountain caribou, arguing habitat loss from logging is undermining recovery. Energy & Industry: Moment Energy opened what it calls the world’s largest EV battery repurposing “Megafactory 1” in Surrey to turn retired batteries into grid storage. Nuclear Build-Out: Ottawa is starting steps to potentially list a deep geological repository near Ignace as a project of national interest under the Building Canada Act. Business & Separatism: A Calgary Chamber poll finds nearly half of members would consider relocating if Alberta separates, while SaskPower reports a $114M loss despite a $187M grant.