Federal ministers expected to announce sole-source deal for Boeing patrol plane today
BNN Bloomberg
Federal ministers are expected to announce today that Boeing is the company of choice to replace the military's aging patrol planes in a multibillion-dollar deal.
The decision to go with a sole-source contract would close the door on Quebec-based business jet maker Bombardier, which has been pushing for an open bid.
Two sources familiar with the matter who were not authorized to speak publicly say that, following cabinet approval last week, the Treasury Board held a special meeting Tuesday and rubber-stamped the purchase of 16 P-8A Poseidon surveillance aircraft to replace the half-century-old CP-140 Auroras.
The procurement department has stated that Boeing's off-the-shelf reconnaissance plane is the only currently available aircraft that meets Royal Canadian Air Force needs, particularly around submarine-hunting technology.
In the latest episode of Ticker Take on YouTube, I spoke with Madden, chief investment officer at First Avenue Investment Counsel, about how his team searches for companies that score well across multiple investment disciplines.
Oil prices steadied on Friday on the intensifying Iran war to around US$110 a barrel, while global shares were mixed following Wall Street losses.
With energy markets reeling due to the U.S.-Israel war on Iran, there are calls for British Columbia to ramp up its production of liquefied natural gas.
Iran intensified its attacks on oil and natural gas facilities around the Gulf on Thursday, raising the stakes in a war that is sending shock waves through the global economy.
Canadian and U.S. stock markets fell on Thursday as higher oil prices stoked inflationary fears.
Canadian securities regulators on Thursday announced a pilot project to allow smaller issuers to voluntarily adopt a semi-annual financial reporting framework, in a bid to ease the regulatory burden for public companies.
ETF strategies shift to defensive sectors while targeting growth opportunities as volatility and geopolitical risks reshape investor sentiment.
When U.S. President Donald Trump returned to office last year, he launched a crusade to shift the country away from renewable energy, drastically undoing the climate-friendly policies of his Democratic predecessor to focus instead on oil and other fossil fuels as the answer to his goal of American energy dominance.
Markets remain resilient despite oil surge from Middle East conflict, as investors watch inflation risks and potential supply disruptions.
The federal government is buying 30,000 new modular assault rifles for the Canadian Army from Colt Canada in a $307 million procurement deal.
Here are five things you need to know this morning.
The CEO of natural gas pipeline operator TC Energy Corp. says Canada risks missing out on opportunities to provide global markets with a secure supply of energy if permitting timelines aren’t significantly shortened.
Canada’s population decline is easing rental demand and weighing on housing as interest rates remain elevated and activity stays subdued.