Prime Minister Mark Carney has unveiled six new large-scale projects set for fast-track review as Canada works to reduce economic dependence on the United States. The list includes LNG development in British Columbia, the Crawford nickel project in Ontario, new mining efforts in New Brunswick and Quebec, a major hydro project in Iqaluit and a transmission line in the northwest of B.C. Although these initiatives aim to expand national capacity, some face opposition, delays or substantial financial challenges.
Defence Bank Headquarters Could Land in Canada
Canada is among the contenders to host the headquarters of a new multinational Defence, Security and Resilience Bank set to launch by 2026. The proposed institution will involve up to 40 member nations and could bring thousands of defence finance jobs to the country. Major global banks have signed on to help build the organisation, which intends to support NATO allies through project financing. Contributions would count toward defence spending commitments, offering both economic and strategic advantages.
Job Growth Comes Mostly from Large Employers
Canada’s latest employment data shows strong hiring, yet the gains are mostly driven by major companies rather than small businesses. Establishments with more than 500 employees created more than half a million new jobs this year, while smaller firms shed hundreds of thousands of positions. Although the hiring trend has lowered the national unemployment rate, it highlights the uneven impact of the trade dispute with the United States and the strain it places on domestic competitiveness.
Saab in Talks with Ottawa and Bombardier
Saab’s chief executive confirmed that the Swedish aerospace company is holding discussions with the federal government and Bombardier about producing the Gripen fighter jet in Canada. The talks are expected to continue during the visit of Sweden’s King Carl XVI Gustaf and Queen Silvia. Saab believes the move could generate thousands of jobs and strengthen Canada’s aviation sector. The company already works closely with Bombardier on the GlobalEye surveillance aircraft, which is built on Bombardier’s large business jet platform.
Ruby Liu’s Bid for Hudson’s Bay Stores Collapses
A major retail proposal from B.C.-based executive Ruby Liu failed after mall owners rejected her plan to take over more than two dozen former Hudson’s Bay locations. Liu hoped to launch a national chain of department stores under her own name. However, landlords raised concerns about her lack of retail experience and the absence of clear operational details. The court-supervised restructuring process eventually revealed deeper inconsistencies, leading to the collapse of her bid and ongoing debate about the future of Canadian retail spaces.
