Bank of Canada governor warns of growing global imbalances
Bank of Canada Governor Tiff Macklem warned Tuesday that widening global imbalances could 'sideswipe' Canada, as the financial system evolves and becomes faster and less regulated. Speaking to the Chambre de commerce France-Canada in Paris, Macklem said imbalances are growing at a time when the financial system is also undergoing significant changes.
Ballard Power Systems buys U.K. hydrogen producer for $515 million
Ballard Power Systems Inc. has acquired U.K.-based GeoPura Ltd. for $515 million in a strategic pivot to address the lack of access to hydrogen, a key hurdle to selling its hydrogen fuel cells. The combination will create an entry point to the market for zero-emission backup power solutions, allowing Ballard to offer both hydrogen fuel cells and hydrogen fuel.
Canadian trips to the U.S. climb for first time in Trump's second term
In April, Canadian residents took 2.4 million trips to the United States, a 1.8 per cent increase from the same month a year earlier, according to Statistics Canada data. This marks the first increase in Canadian travel to the U.S. during President Donald Trump's second term.
Canada's AI strategy criticized for taxation mistakes
Kim Moody argues that Canada's artificial intelligence strategy is long on words and designed to achieve political objectives rather than economic ones. The federal AI strategy glaringly misses how founders, engineers and investors building Canada's AI future will be encouraged to take necessary steps and risks, compounding taxation mistakes the government is already making.
Ontario startup QEYnet aims to secure communications against quantum threats
Maple, Ont.-based QEYnet is developing a method to securely transmit encryption keys from space, aiming to solve what may be the biggest threat to globally secure communication. Many fear quantum computers will be able to decrypt today's encrypted data within the next decade, but QEYnet wants to use quantum physics to turn the table.
