On July 6, 2026, Alberta Premier Danielle Smith and Ontario Premier Doug Ford announced the Northern Shield, a proposed oil pipeline from Hardisty, Alta., to Sarnia, Ont., with a capacity of 500,000 barrels per day. The project parallels the cancelled Energy East pipeline and faces skepticism over demand.
Pipeline proposal faces skepticism
Smith and Ford pitched the pipeline as a way to boost energy security and economic growth, but critics question demand. 'I don't see the demand,' said one analyst, reflecting broader doubts about the project's viability. The pipeline would transport crude from Western to Central Canada, reviving a concept previously abandoned due to regulatory and environmental hurdles.
Rogers becomes sole owner of MLSE
Rogers Communications Inc. signed a deal to acquire Kilmer Sports Inc.'s 25% stake in Maple Leaf Sports & Entertainment, making Rogers the sole owner. The transaction allows Rogers to consolidate its multi-billion-dollar sports and media assets into a single entity. According to Rogers, the move streamlines operations and enhances value for shareholders.
Foreign homebuyer ban may expire
The federal government's ban on foreign ownership of Canadian housing expires in six months, and real estate circles hope Ottawa will let it lapse. Garry Marr argues that removing the ban won't save the market, as other factors like high interest rates and affordability constraints persist. 'It's time to get rid of the foreign buyers ban on housing, but don't expect it to save the market,' Marr wrote.
Stock attachment dangers highlighted
Investor Martin Pelletier warns against becoming too attached to stocks, noting that emotional ties can lead to poor decisions. 'Instead of evaluating an investment based on its current risk and return profile, we begin to defend it,' Pelletier said. He advises focusing on fundamentals rather than purchase price.
Bank of Canada surveys show rising inflation expectations
The Bank of Canada's quarterly Business Outlook Survey and Canadian Survey of Consumer Expectations found that both businesses and consumers expect inflation to rise above 3% over the next year. Elevated oil and energy prices are driving these expectations, according to the central bank. The surveys highlight persistent inflationary pressures despite previous rate hikes.
