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Members of the Canadian and South Korean Navies board the South Korean KSS-III submarine for a tour at Canadian Forces Base Esquimalt in May.Chris Helgren/Reuters
Getting caught up on a week that got away? Here’s your weekly digest of The Globe’s most essential business and investing stories, with insights and analysis on the biggest headlines, stock tips, personal finance strategies and more.
Fifteen months into his tenure as Prime Minister, Carney is drawing the ire of union heads
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Liberal Leader Mark Carney and UNIFOR president Lana Payne meet in Kitchener, Ont., March 26.Frank Gunn/The Canadian Press
In mid-April, the federal government revealed plans to review the Canada Labour Code. In labour circles, panic ensued.
Ottawa has still not set a timeline for the review or for making any decisions to change the code. But to unions the message seems crystal clear: Labour voices are not a priority for Prime Minister Mark Carney’s government.
Vanmala Subramaniam reports on why, 15 months into Mr. Carney’s tenure, union insiders, labour activists and lobbyists say that the Prime Minister’s Office displays a stark lack of interest in worker issues.
Almost half of Ontario condo units are worth less than $500,000 as prices plunge, MPAC reports
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The sheer volume of newly built condos hitting the market in Ontario has contributed to price declines.Sammy Kogan/The Globe and Mail
Looking to buy a condo? Well, a report from the Municipal Property Assessment Corp. found that 46 per cent of Ontario’s condos are now under the half-million-dollar mark.
That’s nearly double the share at the peak of the pandemic real estate boom in 2022 when 24 per cent of Ontario condos were worth less than $500,000. The sheer volume is to blame, which has also led to an overall decline in home prices across all property types in the province.
How companies stopped panicking about tariffs and learned to tolerate Trump’s trade chaos
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U.S. President Donald Trump arrives for a press briefing at the White House.Kevin Lamarque/Reuters
The share of corporate earnings calls in which tariffs were mentioned has fallen to the lowest level since U.S. President Donald Trump won the 2024 election. It’s a telling gauge of how executives, investors and analysts have adapted to the President’s protectionist actions and threats.
The same pattern has played out on both sides of the border, even though companies have plenty of reasons to remain anxious on the trade front.
Canada’s historic submarine procurement incites fierce industrial benefits competition
Canada’s purchase of 12 new submarines will be one of the biggest defence procurements in the country’s history, inciting a fierce competition between bidders. In a brazen attempt to woo the federal government, the two finalists – Germany’s ThyssenKrupp Marine Systems and South Korea’s Hanwha Ocean – have each promised tens of billions of dollars in economic benefits.
It’s a decision with extensive implications for Canadian industry, government, the Royal Canadian Navy and the country’s strategic alliances. Now, with a decision expected any day, the question of who will come out on top, and what sweeping changes their bid will bring to companies and communities across the country, hangs heavy in the air.
JPMorgan’s Jamie Dimon plays down U.S.-Canada trade tensions as ‘a bump in the road’
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JPMorgan Chase & Co.’s chairman and CEO Jamie Dimon at the company’s Toronto office, June 25.Fred Lum/The Globe and Mail
For two decades, JPMorgan Chase & Co.’s chairman and chief executive officer, Jamie Dimon, has overseen a burgeoning Canadian banking arm that serves an increasing number of commercial and corporate clients doing cross-border business from Canada.
What JPMorgan and other major lenders can’t do is buy a large Canadian bank, because legislation caps ownership stakes – foreign or domestic – at 10 per cent. That rule grates against Mr. Dimon’s free-market instincts. But it won’t stop JPMorgan from further building its footprint in Canada from the ground up, and neither will trade tensions that have strained relations with the United States.
Prepare for the week ahead with The Globe’s investing calendar.