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Canada's Sovereign Wealth Fund to Cost $750M Per Year in Debt Charges

Canada’s new sovereign wealth fund is expected to cost $750 million a year in debt interest charges, according to figures from the department of finance. Prime Minister Mark Carney announced Canada’s first sovereign wealth fund, the Canada Strong Fund, on April 27. The federal government will contribute $25 billion over three years to the fund and accept investment from the private sector and individual Canadians. However, the government’s Spring Economic Update did not say where the initial $25 billion for the fund will come from. Finance Minister François-Philippe Champagne had suggested on April 28 that the money would be borrowed, saying Canada’s strong credit rating allows it to borrow cheaply.

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Anand Meets Chinese Counterpart, Says Both Countries Must Address ‘Critical Issues’ to Ensure People’s Security

Foreign Affairs Minister Anita Anand met with her Chinese counterpart Wang Yi in Ottawa on May 29, and said both Canada and China have to address “critical issues” regarding people’s safety. Anand made the public comments to Wang before the start of their meeting at the Global Affairs Canada headquarters. Wang also met with Carney after meeting Anand but neither offered public comments and media access was limited.

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Canada Post Reports It Lost $205M Before Taxes in First Quarter

Canada Post says it lost $205 million before taxes in the first quarter of the year as the postal service moves forward with reforms meant to address its ongoing struggles. The Crown corporation saw its revenue fall by $181 million or 14.3 percent compared with the same three-month period in 2025, as its total losses [...]

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Kenneth Law Pleads Guilty to 14 Counts of Aiding Suicide in Ontario

A Mississauga, Ont., man accused of selling deadly products online to people at risk of self-harm has pleaded guilty to 14 counts of counselling or aiding suicide. Kenneth Law entered the pleas in a Newmarket, Ont., courtroom on May 29 in connection with operating websites that sold sodium nitrate and other toxic substances between 2020 [...]

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Canadian, Ukrainian Drone Firms Forge Pact to Supply Ukraine’s Military

Drones made in Canada could be headed for the battlefield in Ukraine, thanks to a new corporate partnership between Canadian and Ukrainian drone makers. The defence ministers of Canada and Ukraine signed an agreement to support the co-production of drones on the margins of the CANSEC defence trade show in the nation’s capital this week. […]

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Voting Ends in BC Conservatives Leadership Race After 95 Percent Turnout

The official voting period for the next leader of the BC Conservatives has ended, with 95 percent of those eligible casting a ballot. Conservative Party of British Columbia executive director Angelo Isidorou posted the turnout results during a late night social media update on May 28. “25,000 BC Conservatives have now voted. 95% turnout of eligible voters,” he said on X. The seven-day voting process that began on May 23 officially wrapped up on May 29 at 8 a.m. local time, and the announcement of the winner will take place on the evening of May 30. The candidates seeking to fill the spot left vacant by John Rustad’s resignation as Conservative leader last year are former B.C. Liberal cabinet minister Iain Black, commentator and think tank senior fellow Caroline Elliott, former federal MP Kerry-Lynne Findlay, businessman and philanthropist Yuri Fulmer, and current MLA Peter Milobar, who is now the only sitting legislator seeking the leadership of the official Opposition.

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Canada Enters Technical Recession as GDP Growth Stalls

Canada’s economy saw no growth in the first quarter of 2026 following a decline in the final quarter of 2025, according to Statistics Canada data released on May 29. When annualized, the data points to GDP contraction in two consecutive quarters, which meets the technical definition of a recession. Before the data was released, economists [...]

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