Canada is a leader in AI research, but a laggard in adoption: minister

By Jordan Flegue
Published: July 28, 2025 

In the race to develop and disseminate artificial intelligence (AI) technology, Canada is a world leader when it comes to research, but a laggard in terms of adoption, says Canada’s new AI minister.

“Canada’s leading in our frontier research on AI and Canadians should know that – we have some of the best researchers,” Evan Solomon, Minister of Artificial Intelligence and Digital Innovation, told BNN Bloomberg in a Monday interview.

“We have pioneering frontier AI research, and we have some of the best companies in the world, but Canadians and Canadian companies are lagging on adoption; using AI to drive productivity and to drive growth.”

Solomon said the reason for AI hesitancy amongst many Canadian business owners may be due to a lack of tangible evidence showing the technology’s impact on overall profitability, though attitudes may be starting to shift, he noted.

“They’re not sure how it will address the bottom line; Canadians like to see the proof. (But) now they recognize, and I think you’re seeing accelerated rates of adoption, this is a new tool in the toolbelt to drive service and to help customers, and government are realizing the same thing,” he said.

Solomon, the former broadcaster serving his first term in public office after being elected as a Liberal member of parliament in the 2025 federal election, added that although the regulation of AI presents unprecedented challenges for lawmakers, progress continues to be made on that front.

“I think we should be careful about saying it’s either going to be regulated, like let’s try to put a saddle on the horse, or let’s just let it run wild, because there’s lots of room in between the two,” he said.

“For example, a lot of our existing regulations already work… but we will be making sure that you can protect Canadians’ data and can protect their privacy.”

Solomon said that the regulation of such transformative technology is a tough balancing act for any government, as regulations that are needlessly heavy-handed could stifle innovation. But he also acknowledged the negative risks posed by AI if bad actors aren’t kept in check.

“That’s tricky… we’re not sure yet the best way to do that but it doesn’t mean it’s impossible, there’s lots of regulations in Europe and here in Canada on people’s data and people’s privacy (which) are the most important things,” he explained.

“So, companies that are using AI; rest assured that consumers know that their data is being protected, it’s not the wild west out there, but our imperative as a government is to build a sovereign and secure AI infrastructure.”

Solomon’s ministerial portfolio is new; created by Prime Minister Mark Carney’s government following his electoral victory in April. Carney and the Liberal Party platform advocate for increased AI adoption in many areas and its use in the “economy of the future.”

The federal government intends to prioritize the building out of what Solomon called Canada’s “digital backbone,” which includes secure cloud computing and data centres across the country.

Solomon said Canadian companies need to be open minded about embracing AI to keep up with competitors around the globe, comparing this moment to other massive technological disruptions of the past, such as the advent of the internet or the printing press.

“I’ve called this a Gutenberg moment, like when the invention of the printing press happened, and that coincided with the reformation and a big political time, and things change,” he said.
“Many people watching have lived through the first great upheaval; the internet, where we turned information from a scares resource into an abundant resource… now we’re not just transforming information, we’re transforming knowledge.”



Jordan Flegue
Journalist, BNNBloomberg.ca

Air Canada flight attendants start voting on strike mandate

By The Canadian Press
Updated: July 28, 2025 

An Air Canada jet is manoeuvred on the tarmac at the airport, Wednesday, Nov.15, 2023 in Vancouver. THE CANADIAN PRESS/Adrian Wyld

MONTREAL — Air Canada flight attendants start voting today on whether to give a strike mandate to their union.

The vote, running through to Aug. 5, comes after the Air Canada component of the Canadian Union of Public Employees concluded the conciliation process with no deal reached.

The union represents more than 10,000 flight attendants who have been in contract talks since the start of the year.

The union’s bargaining committee told members it was seeking a strike mandate to fight for an industry-leading contract through collective power.

“This is where our strength lies and this is how we will show the company that we are united, serious, and will accept nothing less than the contract we deserve,” it said in a message to members.

Air Canada acknowledged the vote, saying it was a normal step in the negotiation process and does not mean a disruption will happen.

It noted that a strike can’t take place until after a 21-day cooling-off period after the 60-day conciliation period has expired, and in the meantime continues to work toward a deal.

“Air Canada is committed to the bargaining process and remains fully available to continue negotiations towards a fair and equitable collective agreement with CUPE that recognizes the contributions of its Flight Attendants and supports the competitiveness and long-term growth of the company,” it said in a July 25 statement posted on its website.

The union says that despite sustained efforts, including in the conciliation process with a federally-appointed mediator, key issues such as pay, unpaid work and pensions remain unresolved.

Last October, Air Canada’s 5,400 pilots voted in favour of a contract that will see them receive a nearly 42 per cent cumulative wage increase over four years.

Pilots had voted overwhelmingly in support of a strike mandate, but a shutdown was avoided after their union reached a deal with the airline just before the cooling-off period ended.

 Ontario mortgage delinquencies on the rise and could climb higher still, experts warn

By Joshua Freeman
Published: July 26, 2025

A real estate sign is displayed in front of a house in Toronto in this file photo. THE CANADIAN PRESS/Evan Buhler

Mortgage delinquencies appear to be on the rise in both Ontario and the Greater Toronto Area and the numbers could get worse as Canada navigates choppy economic waters, experts say.

According to data prepared for the Canada Mortgage and Housing Corporation (CMHC) by Equifax Canada, mortgage delinquencies rose to 0.22 per cent in Ontario for the first quarter of this year. That’s up from 0.15 per cent in the first quarter of 2024 and 0.09 per cent in the first quarter of 2023.

In Toronto, the mortgage delinquency rate hit 0.23 per cent for the first quarter of 2025. That compares to 0.14 per cent for the first quarter of 2024 and 0.08 per cent for the first quarter of 2023.

Specifically, the data tracks the volume of 90-day mortgage delinquencies, which include defaults, but can also refer to late payments.

While the rate might not be terribly bad by historical standards, mortgage delinquencies haven’t been that high in Toronto since early 2013 and Ontario hasn’t seen levels this high since 2016.


Equifax reported in February that more than 11,000 mortgages in Ontario recorded a missed payment in the last quarter of 2024. The firm warned that Ontarians are struggling with their mortgages and that mortgage holders are struggling with other forms of debt as well.

“It’s concerning,” says Maria Solovieva, an economist at TD Bank.
Interest rates, uncertainty are factors

Experts say there are two main reasons why mortgage delinquencies are on the rise now.

First, the province is seeing a wave of mortgage renewals by people who bought homes with rock-bottom borrowing costs during the pandemic and are now having to renew at higher rates. But in addition to low interest rates, people also had forced savings during lockdown, Solovieva points out.

“So they had these extra funds available for them to put towards repayment,” she says.

In that sense, it was predictable that some people might have difficulty making their payments now.

“There’s definitely a rise in (delinquencies) associated with coming back to normalcy,” Solovieva says.

Jordan Nanowski, CMHC’s lead economist for the Greater Toronto Area, agrees.

“I think a rise in delinquencies is expected given that there’s a lot of mortgage renewals taking place, so (that) reflects higher mortgage costs,” Nanowski says.

The second thing driving up delinquencies, he says, is economic uncertainty finding its way into the labour market.


“There’s a lot of economic uncertainty that in itself is already manifesting certain negative impacts,” Nanowski says. “Especially in certain industries, we’re seeing some job cuts and that could be contributing as well. So it’s kind of a confluence of the two.”

While the data is not clear on this point, Nanowski says the softening of the condo market could well be playing a role in delinquencies if people looking to offload those properties find they are unable to get their money out because of the weaker market.

“There definitely could be individuals that are, let’s say, a little bit more tied to their property and if they have issues making payments and they’re looking to sell, it’s not that easy to sell,” he says. “So in that type of environment, they might be more likely to be in arrears for longer. So market dynamics are definitely playing a factor there.”
Ontario vulnerable as trade war remains unresolved

Both Solovieva and Nanowski agree that going forward, Ontario could be in for a rough ride if the ongoing trade war with the United States, sparked by U.S. President Donald Trump’s tariff threats, hits the job market.

“We do expect that Ontario specifically will be hit by the trade war a little bit more,” Solovieva says. “The unemployment rate is already at 7.9 and 7.8 per cent between the two months in May and in June (respectively), so it’s larger than average in Canada.”

Nationally, unemployment sat at 6.9 per cent in June.

“The economic uncertainty and impacts of potential tariffs could impact employment for a lot of individuals, and that could increase mortgage arrears,” Nanowski says.

He points out areas that support industries targeted by the U.S. for tariffs are particularly vulnerable.

“Windsor is probably the most exposed. Same with case Kitchener, Cambridge, Waterloo, St. Catharines, Niagara, Hamilton for steel,” Nanowski says. “Those are places that mortgage arears might pop up a bit higher if trade tensions and economic uncertainty persist, right? And we’re already seeing a bit of impact there. You’re seeing some job losses in certain sectors that are more unique to that area.”

CMHC could not provide the real number of mortgage delinquencies in Ontario. However, of the nearly 7 million outstanding mortgages in Canada, 0.22 per cent were in arrears in the fourth quarter of last year, according to the corporation. That translates into 15,259 mortgages across the country.

Nanowski adds that while the diversified labour market within the Greater Toronto Area is something of a bulwark around Toronto, the GTA is still vulnerable in some places, such as Oshawa, where thousands of jobs are tied to the auto industry.

But while there’s reason for concern, Solovieva points out that for the time being, mortgage delinquencies still sit at less than a quarter of a percent.

“So it just tells you that, yes, there is strain, especially in those very not affordable regions,” she says. “But it’s not something that will basically, at this point, be a breaking point.”

Are you having difficulty making your mortgage payments? CP24 and CTV News Toronto want to hear from you.

Email us at torontonews@bellmedia.ca with your name, general location and phone number in case we want to follow up. Your comments may be used in a CP24 or CTV News story.

Joshua Freeman
Journalist, CP24.com

Turning cows into code: Ontario company wants to help farmers and cows with AI

By Joshua Santos
Updated: July 23, 2025

A Hamilton-based company aims to empower farmers with tools to make informed decisions by using artificial intelligence (AI) across all aspects of their operations.

CATTLEytics offers data-driven proprietary software tailored to dairy and livestock farmers to assist with breeding decisions, targeted animal health protocols, optimal management decisions and even staff scheduling and task management.

“If you’ve ever seen the movie Moneyball, you’re optimizing a baseball team. We want to do that for dairy cows. You’re making your dream team of cows with the data that you have, so next season, you’re going to have the best herd,“ Shari van de Pol, the company’s chief executive officer, told BNN Bloomberg in a Tuesday interview.

The company leverages digital twin simulations, streamlined protocols and custom analytics to enable producers to enhance efficiency, profitability and sustainability without expanding resources. She said farmers save about one to two hours a day with analytics.

“The concept with software these days is that we really try to create a digital version of everything that exists on a dairy (farm) in order to better connect with all the different interactions that would happen on that dairy (farm),” said van de Pol. “For instance, if there’s a treatment plan, we would have a digital version of the treatment plan. If there’s a drug to be used, we would have a digital version of the drug. If, for instance, there’s yes, a calf born, we’ll have a digital version of that calf. That helps us really connect all those different interactions so we can better model what’s happening on our dairy (farms).”

Farmers have used technology for many years. In fact, Canada was recognized as one of the global leaders in the agricultural technology industry with precision agriculture, according to Northbridge Consultants. The market value of precision agriculture in Canada reached $870 million in 2021. Precision agriculture refers to a suite of farm management technologies, as well as data and analytics used to increase efficiency, production, and sustainability, according to CIBC Thought Leadership. Tools include GPS, sensors, robotics, drones, autonomous vehicles, and software. van de Pol wants to build on top of advancements made on farms.

“In the 90s, there was precision agriculture then we moved on to have pedometers, because, you might know this, but most cows actually wear kind of like a Fitbit, so that you know how many steps they take,” said van de Pol. “We moved on into the AI age, but we need to continue, especially in Canada, all of these efficiencies in order to be able to provide the amazing, nutritious food that we provide for everybody every day.”

van de Pol grew up in a rural community before beginning her career in computer engineering and data analytics at large multinational companies. She later became a large-animal veterinarian. She created the company combining her passion for technology and veterinary medicine. Her company employees about 12 to 14 people depending on the season to help farmers run a farm while understanding the challenges farmers face.

“In order to run a farm like the actual people, they have to understand animal biology,” said van de Pol. “They have to run a business. They have to be able to service equipment and run equipment. There’s so much knowledge to this but then the workers themselves too, have to understand everything tied to animal husbandry.”

Farmers must also abide by strict protocols. Dairy Farmers of Canada, a national policy, lobbying, and promotional organization representing Canadian dairy producers, developed proAction, a national quality assurance program for the Canadian dairy sector. The program is mandated on all Canadian dairy farms.

“There’s really strict protocols,” said van de Pol. “In Canada, we have something called proAction that is kind of like the way that there’s a food inspection, we have that for dairy farms. There’s so much knowledge that goes into running one of these operations, it’s probably one of the most difficult types of farming out there”.


Joshua Santos
Journalist, BNNBloomberg.ca

$500M loan request top of mind as federal minister visits Algoma Steel

By Cory Nordstrom
Published: July 28, 2025 

Melanie Joly, the Federal Minister of Innovation, Science, and Industry, visited Sault Ste. Marie on Monday as the company faces huge U.S. tariffs.

Melanie Joly, the Federal Minister of Innovation, Science, and Industry, visited Sault Ste. Marie on Monday for a first-hand look at Algoma Steel’s prized possession – its new electric arc furnace.

Also on the agenda were talks about Algoma’s hopes for a $500 million loan to help it weather 50 per cent tariffs imposed on steel imports by U.S. President Donald Trump.

Melanie Joly, the Federal Minister of Innovation, Science, and Industry, visited Sault Ste. Marie on Monday for a first-hand look at Algoma Steels’ prized possession – its new electric arc furnace. (Cory Nordstrom/CTV News)

Last week, CTV News reported that Algoma Steel had submitted the $500-million loan application to the federal government to weather the storm while the trade war rages.

On Monday, Joly and Sault MP Terry Sheehan both said it was on the list of talking points before the minister toured the new electric arc furnace.

“We have started negotiations with the management,” Joly said, who said the talks are “ongoing.”

“(Algoma CEO) Mike Garcia and I … sat down this morning. We had very constructive conversations. And we want to make sure that the steel sector in Canada, which is the crown jewel of our manufacturing sector, is also able to fulfill all the needs of Canadians themselves.”

“Mike Garcia and I … sat down this morning. We had very constructive conversations. And we want to make sure that the steel sector in Canada, which is the crown jewel of our manufacturing sector, is also able to fulfill all the needs of Canadians themselves.”— Melanie Joly, Minister of Innovation, Science, and Industry

“The applications are in -- we had great discussions and we’re looking at different ways to support the steel industry,” Sheehan added.

“I’m confident that in the end that, you know, we will support the steel industry across Canada and the steel industry will not only, you know, be resilient today, but it will grow in the future.”

Melanie Joly, the Federal Minister of Innovation, Science, and Industry, visited Sault Ste. Marie on Monday for a first-hand look at Algoma Steels’ prized possession – its new electric arc furnace. (Cory Nordstrom/CTV News)

Sheehan said that he and his party have been for Algoma Steel in the past when the steelmaker faced major challenges.

“When I was first elected, I was called to a meeting that they were going into bankruptcy,” he said.

“We helped them with that -- we helped them modernize with an investment … We also invested heavily in there in 2018 when Trump first put the tariffs on. We continue to have the industry’s and the Steelworkers’ back. And we continue to today.”

Also on Monday, Joly toured the $800 million electric arc furnace, which fired for the first time earlier this month. She said the plant’s steel production is critical to the work her government has planned.

“This plant will be at the core, meeting the demand for all the new nation-building projects that we will soon be approving,” she said.

Key to defence sector

“This plant is key to our defence sector.”

As part of Bill C-5, Sheehan said the federal government believes the steel produced in the Sault could be used in many more projects than just defence.

“We know for a fact Algoma Steel produces military grade plate, and that is going to be used in shipbuilding programs, submarines,” Sheehan said.
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“It could be armoured vehicles, but there are other applications -- bridges, building beams for housing, even rail.”

In the meantime, times are tough, with U.S. tariffs on steel severely impacting Algoma’s bottom line.

It’s a company that does the majority of its business south of the border.


Cory Nordstrom
CTVNorthernOntario.ca Journalist

Algoma Steel seeking $500M in federal support amid ongoing concern over U.S. tariffs

By The Canadian Press
Updated: July 24, 2025 


Algoma Steel says it is seeking a large loan from the federal government to ensure its survival in the face of huge tariffs being imposed by the United States.


Algoma Steel Group Inc. is seeking $500 million in federal support as the company faces continued uncertainty from U.S. tariffs on Canadian steel.

The Sault Ste. Marie, Ont.-based steel producer said Thursday that it applied for the funding under the Large Enterprise Tariff Loan program, announced by Ottawa in March to support companies affected by tariffs and countermeasures.

“We are taking a measured and disciplined approach to evaluating the implications of sustained trade barriers,” said chief executive Michael Garcia in a statement.

“We continue to call for timely, prudent policy support to ensure Canadian steelmakers can remain viable contributors to the national interest.”Latest updates on investing here

The company says it remains concerned with the “significant impact” U.S. tariffs are having on its operations and outlook. The U.S. doubled its steel and aluminum tariffs to 50 per cent in June, a level the Canadian Steel Producers Association has said effectively shuts it out of the market.

Last year, Canadian steel producers exported just over half of their production, with over 90 per cent of it going to the U.S.

Algoma says it has enough capital in the near term, but given the uncertainty created by tariffs it is looking at various ways, including government support, to boost its liquidity.


It said the capital boost would help give it room to diversify its customer base as it explores potential investments that align with long-term domestic demand from industries like defence and construction.

The amount of additional financing it could seek will partly depend on the duration and severity of the trade dispute and how much the Canadian steel market “remains exposed to unfairly priced imports,” it said.

The federal government has already moved to reduce steel imports that the industry says are unfairly subsidized, especially from China.

The government imposed 25 per cent tariffs on Chinese steel products last fall, while last week it announced increased protection measures, including 50 per cent tariffs on steel imports above certain thresholds, and a 25 per cent surtax on imports that contain steel that originated in China.

The added supports announced July 16 also included revised terms for the $10 billion Large Enterprise Tariff Loan program to allow targeted support for the steel industry.

Changes include reducing the proposed interest rate, extending the loan maturity, enabling the government to hold equity in companies, as well as requiring companies to prioritize worker retention.

At the time, the Canadian Steel Producers Association welcomed the supports, which also included other financial supports and explicit prioritization of domestic steel in federal projects.

“We appreciate the government’s support as the consequences are devastating from the unjustified trade action by the United States administration,” said chief executive Catherine Cobden in a July 16 statement.
Trade War coverage on BNNBloomberg.ca

Algoma which had about 2,800 employees at the end of last year, bills itself as Canada’s only independent and publicly-owned steelmaker, and says it is the only Canadian producer of steel plate.

The company reported a net loss of $24.5 million last quarter compared with a $28 million profit a year earlier. The company listed lower pricing, linked to a drop in demand because of trade uncertainty, along with higher input costs as major factors in the drop.

The company is almost done a $900 million project to switch to electric arc furnace steelmaking that should slash emissions by 70 per cent. The project was supported by $420 million in federal funding.

---

Ian Bickis, The Canadian Press

This report by The Canadian Press was first published July 24, 2025.

Albertans are the best in the country at saving money: Desjardins report

By Joshua Santos
Published: July 28, 2025 at 1:03PM EDT

As economic conditions evolve and regional pressures shift, Canadians are saving more money, but the amount depends on which province you live in, according to a new report.

As economic conditions evolve and regional pressures shift, Canadians are saving more money, but the amount depends on which province they live in, according to a new report.

Desjardins’ latest economic viewpoint found Albertans saved nearly nine per cent of their disposable income between 2020 and 2023, the highest in Canada, and well above the national average of under four per cent.

Researchers found Albertans were able to save more as they had, on average, a household disposable income of over $110,000 while affordability in the province was among the best in the country. Savings rates are also high in Saskatchewan and Quebec with levels approaching 10 per cent of disposable income in 2024. The national average disposal household income in 2024 was $100,000.

“You have Alberta close to $120,000 household disposable income and Saskatchewan is a bit above average,” Sonny Scarfone, principal economist for Desjardins told BNNBloomberg.ca in a Monday interview.

“I would say, for these two provinces, it’s a mix of high disposable income and relatively affordable housing compared to B.C. and Ontario, especially. For Quebec, it’s mostly on the spending side, just in absolute terms, spending less than other provinces.”


Households in Ontario and British Columbia meanwhile are navigating higher debt levels, driven by housing costs, mortgage renewals, and slower income growth, all of which may weigh on future consumption and savings.

Homeowners in the relatively more affordable Quebec housing market are less vulnerable to ongoing mortgage renewals than in other provinces. That however is starting to decline, Scarfone said.

“We do see affordability declining and more of a catching up. In absolute terms, prices have been increasing for housing, although on the relative basis that remains affordable compared to B.C. and Ontario,” he said . “We do forecast that the Quebec savings rate will remain somewhat elevated, of course, depending on the commercial tariffs outcome there.”

The average national savings rate, calculated as a percent of disposable income instead of spending, is expected to increase from 3.7 per cent in 2023 to six per cent in 2024 according to data from Statistics Canada and Desjardins Economic Studies.

Alberta had a savings rate of 8.8 per cent in 2023, Quebec was at 7.8 per cent and Saskatchewan was not far behind at 7.5 per cent in 2023.

Prince Edward Island was at 2.8 per cent, Ontario at 1.7 per cent, British Columbia at 0.6 per cent and Newfoundland and Labrador at 0.2 per cent. New Brunswick was down -1.6 and Nova Scotia was -3.7.
Canadians expected to save more

Desjardins predicts Canadians across the country will continue to save for the future despite ongoing income pressures. Albertans made over $115,000, British Columbians had $110,000 and Ontarians made $105,000 in 2024. Scarfone noted households saving more leads to higher resiliency especially in uncertain times such as U.S. President Donald Trump’s trade war.

“One of the reasons we’re interested in looking at saving behaviour is that in terms of uncertainty, saving for a rainy day can become self fulfilling in terms of uncertainty leads to households being more prudent in their spending,” said Scarfone. “That prudence itself contributes to lower consumption, which is reflected by lower GDP. So that behaviour is interesting in the context that we’re in today, and also it does help us in our forecast in terms of forward looking at who would be more financially resilientif a slowdown was to come.”

In Quebec, the average household disposable income was just under $84,000 in 2024, comparable to New Brunswick and lower than all other provinces, yet they were one of the highest savers in the country.

Changes to personal income tax

Researchers expect national-level household disposable income growth to accelerate in 2025 in part supported by recent federal personal income tax changes.

The government recently announced a plan to reduce the personal income tax rate from 15 per cent to 14 per cent as of July 1. It will also be the rate for most federal non-refundable tax credits.

Desjardins noted Quebec and Alberta households are likely to face less pressure from mortgage renewals than households in British Columbia and Ontario.
Households to spend less on luxury goods

While researchers anticipate an increase in savings, they also expect a broad slowdown in consumer activity in the coming quarters, with the steepest declines in spending on luxury items.

Households are likely to scale back on big-ticket purchases due to the combined impact of the ongoing trade war, through higher prices and increased uncertainty, and a soft housing market.

Joshua Santos
Journalist, BNNBloomberg.ca

Alberta taxpayers hit with $143M bill in first of multiple coal policy settlements

By Mark Villani
 July 23, 2025 at 11:52AM EDT


Alberta taxpayers are on the hook for more than $140 million, as the province settled one of five lawsuits filed against it over coal mining policies.

The Alberta government’s multimillion-dollar settlement with a coal company is drawing backlash from environmental groups, opposition MLAs and Indigenous leaders, who say the payout reflects years of policy flip-flopping that left taxpayers on the hook.

Five coal companies were part of a $16-billion legal action launched after the province abruptly reversed its coal policy multiple times between 2020 and 2024.

In 2020, the province nixed land protection rules that dated back to 1976, prompting public backlash which forced the UCP government to reverse its decision the following year.

The government then cancelled leases which were earmarked for potential new mines and declared an indefinite moratorium on coal exploration.

That decision did not sit well with Atrum Coal Limited, one of the plaintiffs in this lawsuit which was the first to disclose a settlement publicly, confirming in a statement this week that it had reached a $142.8 million agreement with the province.

The agreement includes $6 million being withheld until the company completes site reclamation.

Other companies involved including Evolve Power Ltd. have also reached a settlement but have declined to comment further at this time on what the amount is.

Cabin Ridge Project Ltd., Black Eagle Mining Corp., and Northback Holdings Corp. are the other companies involved in the lawsuit which have yet to reach an agreement with the province.

“Atrum has stated they will surrender all their Alberta coal leases to the Government of Alberta,” Energy Minister Brian Jean said in a statement to CTV News.

“These leases are in Category 2 lands under the 1976 Coal Development Policy. The government has no intention to further lease these rights Atrum has stated it will complete necessary reclamation works as part of the settlement, this will support our stated commitment to protect the foothills and Rocky Mountains.”

The province says additional agreements are still being finalized but declined to share further details.

Opposition slams province

“This latest payout is another example of how this UCP government doesn’t know what they’re doing,” said Alberta NDP Leader Naheed Nenshi.

“Taxpayers are on the hook for nearly $150 million, directly as a result of this government’s flip-flopping on their coal policy.”

“We also don’t know how much more taxpayers will have to pay,” Nenshi added. “The government has announced none of these settlements itself. We are only hearing from the coal companies.”


“The terms of these settlements remain privileged, and we cannot discuss details related to the settlements, related discussions or any other active litigation at this time,” Jean said.

Alberta Environment Minister Rebecca Schulz said her ministry is also focused on improving policy certainty for industry.

“The work being done on the coal Modernization Initiative is really to make sure that we do have policy certainty moving forward,” Schulz said. “We take our environmental standards very seriously.”

Concern over long-term impacts

Sarah Elmeligi, the NDP’s shadow minister for environment, said the government’s approach has caused widespread confusion in industry and the public.

“The government has created a complete disaster of this coal file,” Elmeligi said. “Flip-flopping and poor consultation has led to a lot of confusion in the sector.”

“When the coal policy was rescinded, companies started putting in development applications,” she said.

“But then those applications were not valid anymore when the coal policy was put back in place and now Alberta taxpayers have to pay $148 million in this one settlement. That’s money that could have been spent on health care or hiring educational assistants, improving our education system, or reducing surgical wait times.”

Environmental groups also raised questions about the long-term consequences.

“It’s really unclear how the settlement amount was calculated,” said Katie Morrison, Executive Director of CPAWS Southern Alberta.

“Is the government just bowing to coal companies and paying them off with public funds much beyond what they’re actually owed?”

Morrison said companies are already “years behind on their reclamation requirements” and questioned whether the $6 million holdback is sufficient.

“That could become a public liability,” she said.

Nicole Johnston, a member of the Piikani Nation, said the lack of formal disclosure from the province raises broader concerns about accountability.

“It wasn’t long ago when Danielle Smith stated how she was protecting the taxpayers from lawsuits when they lifted the ban on the eastern slopes,” Johnston said. “But the lawsuits didn’t go away and now this settlement is also going to be taking away from the taxpayers.”

“She’s just trying to go out of her way to take to cover the mistakes and the decisions she’s made, which is not good for the people in Alberta,” Johnston said.

Northback Holdings, another company with a coal project in the Crowsnest Pass, also filed a separate lawsuit earlier this year.

In a brief statement, the company said it remains committed “to developing high quality steelmaking coal in Alberta, adhering to the highest environmental standards while delivering economic benefits to Albertans.”

Evolve Power, another firm involved in the original joint lawsuit, declined to comment.

Elmeligi said the fundamental issue remains unresolved.

“We don’t have a government that has made it clear and has taken a clear position that there should not be coal mining on the eastern slopes,” she said. “We need a government that will just say no.”

Mark Villani
Video Journalist, CTV News Calgary

CLIMATE CHANGE / GLOBAL WARMING

Newfoundland farmer says he’s never seen anything like this year’s drought, ‘not even close’

By Garrett Barry

July 27, 2025 at 5:00AM EDT

Steve McBridge collects water as drought conditions hang over Newfoundland and Labrador.

MOBILE, N.L. – An unseasonably warm and dry stretch across much of Newfoundland and Labrador has left crops and animals parched — and farmers hoping for a steady dose of rain.

Eastern parts of the island have received less than half of normal precipitation, while St. John’s has seen temperatures between 2 to 4 degrees warmer than usual, according to an analysis by Agriculture Canada.

Its Canadian Drought Monitor measurement system found much of the province classifies as abnormally dry, while a northeastern stretch including St. John’s, Bonavista and Gander is in a moderate drought.

“We’ve been here, on the homestead pretty much off the grid for 12 years now, and I’ve never seen anything like this,” said Steve McBride. “Not even close.”

Steve and his partner Lisa McBride are homesteaders. They try to produce as much of their own crops, eggs, milk and other food as possible.

Between his turkeys, goats, ducks and bees, it all adds up to a lot of work for the couple.

“I’ve got a million mouths to feed and water over the course of the day,” Steve said.

Since early June, McBride’s well has been dry, and he’s seeing the colour leave his grass and other plants too.

His animals are also showing signs that they’re struggling with weather conditions, drinking about twice as much water as usual, and his goats are avoiding the sunshine by hiding in the shade and staying in their shelters

“A dry duck is not a happy duck,” he added.

To compensate, Steve and Lisa McBride have begun once-or-twice daily trips to a local freshwater pond to fill up 5-gallon buckets of water and bring them home to their animals.

“This is going to be the reality until September,” Steve McBride said. “Barring getting a water truck to come in and fill up a 1000-litre tote for us, or something like that, which is an added expense. That’s it.”

At Lester’s Farm Chalet in St. John’s, owner Jim Lester is also scratching his head.

This summer, he’s been working Agriculture and Agri-Food Canada’s Living Labs program to track moisture content in his soil.

Ideally, he said, you’d get a measurement of about 10 per cent. As of the end of July, his soil is reading just three per cent.

“Once upon a time, irrigation was kind of not needed here in Newfoundland,” Lester said. “Then, you know, about 15 years ago it became a luxury to have irrigation. But now it’s truly a necessity.”

The yellowed, short grazing fields on his farm are testament to how difficult the year has become. Lester said he’ll likely have to consider either selling some of his animals or buying more hay later this year.

Either approach could mean extra costs.

He’s had to supplement summer feeding with hay before — but only because it’s been too wet in the past, never because it’s been too dry.

“You’ll see lots of fellows having to bring their cattle and their sheep home from the community pastures, whereas normally we can leave them out until the 1st of December or at least the end of October.”


Garrett Barry
Journalist, CTV National News

‘A second look to this merger’: Public policy expert on proposed purchase of Canadian crypto firm

By Joshua Santos
Published: July 25, 2025

Concerns over Canada’s economic sovereignty in financial institutions has a public policy expert calling for consumer protection after a mammoth deal is set to be approved for a U.S. company to take over a Canadian cryptocurrency firm.

Digital asset platform WonderFi Technologies recently announced it will be acquired by Robinhood Markets Inc., a U.S. fintech company for $250 million, after the Supreme Court of British Columbia signed off on the transaction. Robinhood would now have Bitbuy, Coinsquare and more than $2.1 billion in assets under its control.Latest updates on company news here

“WonderFi already consolidated a lot of digital exchanges in Canada to achieve their size, but now that we’re probably losing it to the U.S., it’s hard to get elements like that back,” Vass Bednar, managing director of Canadian SHIELD Institute for Public Policy told BNN Bloomberg in a Thursday interview. “One person likened it to selling off the Toronto Stock Exchange, but in terms of size, it would be kind of similar to allowing the U.S. to purchase the Big Five Canadian banks, and then saying to citizens “well, you have other choices, right?” Which you do, but they’re not comparable, or not yet comparable, in terms of scale and size.”

Bednar wants Canada to reduce U.S. influence and foster economic influence at home. She co-authored The Big Fix: How Companies Capture Markets and Harm Canadians. The book details how corporate concentration is growing across many industries.

WonderFi owns Coinberry, Bitvo Inc., Coinsquare, CoinSmart and Bitbuy. Bednar said WonderFi is one of the last major Canadian owned players in the digital platform space.

She is especially worried as U.S. President Donald Trump continues his tariffs trade war while spearheading legislation to create a regulatory regime for stablecoins, a U.S.-dollar pegged cryptocurrency, paving the way for digital assets in everyday transactions.

“I don’t think we can ignore we are in a trade war, and in this very kind of hostile, volatile environment, we’re seeing President Trump move to sort of encode U.S. stablecoin dominance,” said Bednar. “That’s why I think potentially giving a second look to this merger, or just putting it in that context, is really important for us”.Latest updates on crypto news here

Bednar said the Bank of Canada has shelved work on regulating digital assets stablecoins in the country but says many are hoping the central bank will give it a second look to clarify a path forward.

“We kind of can’t afford to keep waiting,” said Bednar. “We often take a wait and see approach, which is not the worst thing in the universe, but when you’re dealing with a new economy, you have to be brave too, and you have to sort of get out there and put forward proposals and be maybe a little bit scrappier from a regulatory perspective. I think the GENIUS act certainly forces Canada to try to do that.”

‘A bit of a bidding war’: Cenovus Energy said to be working on bid for MEG Energy

By Joshua Santos
Published: July 25, 2025 

Cenovus Energy is said to be preparing a competitive bid for MEG Energy Corporation setting the stage to potentially challenge a lucrative offer from Strathcona Resources, according to a report in the Financial Post.

MEG Energy, valued at $6.8 billion on the TSX, has established a Monday deadline for interested parties to submit bids. Cenovus is believed to be seeking financing to support its offer though there is no guarantee it will proceed.

“There could be a bit of a bidding war here, but ultimately I think the stronger party here could win,” Julian Klymochko, Accelerate CEO & Chief Investment Officer told BNNBloomberg in a Thursday interview.

MEG Energy urged shareholders to reject an offer from Strathcona on June 16 after the company previously announced a $6 billion cash-and-stock takeover offer for MEG in May.

MEG said its board of directors have determined that Strathcona’s “unsolicited bid to acquire all of the issued and outstanding MEG shares is inadequate, opportunistic, and not in the best interests of MEG or its shareholders”. The offer remains open until Sept. 15.

“MEG Energy Board of Directors officially opposed the hostile takeover,” said Klymochko. “In addition, they launched a strategic review of alternatives, which means they put up the for-sale sign. That looks like that’s all coming to a head.”

Klymochko said Cenovus can emerge as a “white knight,” representing a friendlier bid to Strathcona’s “hostile takeover.” He referenced a time when Husky Energy made a bid to acquire MEG Energy for $6.4 billion but that bid did not go through. Husky was then acquired by Cenovus for $23.6 billion two years later.

“The main potential white knight here, and in M&A parlance, that means a friendly bidder to top the hostile offer here would be Cenovus, which totally makes sense, because if we rewind back to 2018, Husky Energy, back when it was independent, made a hostile takeover bid for MEG Energy, which ultimately failed, but then Husky was acquired by Cenovus, and there’s a lot of synergies there because the assets really line up,” said Klymochko.

He said the last time a company had a hostile takeover was when Suncor bought Canadian Oil Sands in 2016 for $6.6 billion. The acquisition increased Suncor’s ownership stake in Syncrude, a major oilsands project, and involved a combination of cash and Suncor shares for COS shareholders. The deal was initially proposed in October 2015.

“That transaction started out hostile, and then ultimately, there’s no other bidders for that asset, so the acquirer just bumped the price and got a friendly deal in hand,” said Klymochko. “That could happen here, but if you’re Strathcona, you’re going up against a much larger, much more financially competitive interloper in Cenovus.”

BNNBloomberg.ca reached out to Cenvous and MEG Energy for comment on Friday but has not yet received a response.


Joshua Santos
Journalist, BNNBloomberg.ca