{"id":106191,"date":"2026-06-27T13:33:05","date_gmt":"2026-06-27T13:33:05","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/106191\/"},"modified":"2026-06-27T13:33:05","modified_gmt":"2026-06-27T13:33:05","slug":"canadas-historic-submarine-procurement-unions-ire-towards-carney-and-tolerating-trumps-trade-chaos-business-and-investing-stories-for-the-week-of-june-27","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/106191\/","title":{"rendered":"Canada\u2019s historic submarine procurement, unions\u2019 ire towards Carney and tolerating Trump\u2019s trade chaos: Business and investing stories for the week of June 27"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Members of the Canadian and South Korean Navies board the South Korean KSS-III submarine for a tour at Canadian Forces Base Esquimalt in May.Chris Helgren\/Reuters<\/p>\n

Getting caught up on a week that got away? Here\u2019s your weekly digest of The Globe\u2019s most essential business and investing stories, with insights and analysis on the biggest headlines, stock tips, personal finance strategies and more.<\/p>\n

Fifteen months into his tenure as Prime Minister, Carney is drawing the ire of union headsOpen this photo in gallery:<\/a><\/p>\n

Liberal Leader Mark Carney and UNIFOR president Lana Payne meet in Kitchener, Ont., March 26.Frank Gunn\/The Canadian Press<\/p>\n

In mid-April, the federal government revealed plans to review the Canada Labour Code. In labour circles, panic ensued.<\/p>\n

Ottawa has still not set a timeline for the review or for making any decisions to change the code. But to unions the message seems crystal clear: Labour voices are not a priority for Prime Minister Mark Carney\u2019s government.<\/p>\n

Vanmala Subramaniam reports on why, 15 months into Mr. Carney\u2019s tenure, union insiders, labour activists and lobbyists say that the Prime Minister\u2019s Office displays a stark lack of interest<\/a> in worker issues.<\/p>\n

Almost half of Ontario condo units are worth less than $500,000 as prices plunge, MPAC reportsOpen this photo in gallery:<\/a><\/p>\n

The sheer volume of newly built condos hitting the market in Ontario has contributed to price declines.Sammy Kogan\/The Globe and Mail<\/p>\n

Looking to buy a condo? Well, a report from the Municipal Property Assessment Corp. found that 46 per cent of Ontario\u2019s condos are now under the half-million-dollar mark<\/a>.<\/p>\n

That\u2019s nearly double the share at the peak of the pandemic real estate boom in 2022 when 24 per cent of Ontario condos were worth less than $500,000. The sheer volume is to blame, which has also led to an overall decline in home prices across all property types in the province.<\/p>\n

How companies stopped panicking about tariffs and learned to tolerate Trump\u2019s trade chaosOpen this photo in gallery:<\/a><\/p>\n

U.S. President Donald Trump arrives for a press briefing at the White House.Kevin Lamarque\/Reuters<\/p>\n

The share of corporate earnings calls in which tariffs were mentioned has fallen to the lowest level<\/a> since U.S. President Donald Trump won the 2024 election. It\u2019s a telling gauge of how executives, investors and analysts have adapted to the President\u2019s protectionist actions and threats.<\/p>\n

The same pattern has played out on both sides of the border, even though companies have plenty of reasons to remain anxious on the trade front.<\/p>\n

Canada\u2019s historic submarine procurement incites fierce industrial benefits competition<\/p>\n

Canada\u2019s purchase of 12 new submarines will be one of the biggest defence procurements in the country\u2019s history, inciting a fierce competition<\/a> between bidders. In a brazen attempt to woo the federal government, the two finalists – Germany\u2019s ThyssenKrupp Marine Systems and South Korea\u2019s Hanwha Ocean – have each promised tens of billions of dollars in economic benefits.<\/p>\n

It\u2019s a decision with extensive implications for Canadian industry, government, the Royal Canadian Navy and the country\u2019s strategic alliances. Now, with a decision expected any day, the question of who will come out on top, and what sweeping changes their bid will bring to companies and communities across the country, hangs heavy in the air.<\/p>\n

JPMorgan\u2019s Jamie Dimon plays down U.S.-Canada trade tensions as \u2018a bump in the road\u2019Open this photo in gallery:<\/a><\/p>\n

JPMorgan Chase & Co.\u2019s chairman and CEO Jamie Dimon at the company\u2019s Toronto office, June 25.Fred Lum\/The Globe and Mail<\/p>\n

For two decades, JPMorgan Chase & Co.\u2019s chairman and chief executive officer, Jamie Dimon, has overseen a burgeoning Canadian banking arm<\/a> that serves an increasing number of commercial and corporate clients doing cross-border business from Canada. <\/p>\n

What JPMorgan and other major lenders can\u2019t do is buy a large Canadian bank, because legislation caps ownership stakes – foreign or domestic – at 10 per cent. That rule grates against Mr. Dimon\u2019s free-market instincts. But it won\u2019t stop JPMorgan from further building its footprint in Canada from the ground up, and neither will trade tensions that have strained relations with the United States.<\/p>\n

Prepare for the week ahead with The Globe\u2019s investing calendar<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Members of the Canadian and South Korean Navies board the South Korean KSS-III…\n","protected":false},"author":2,"featured_media":106192,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[136,902,903,904,905,17,484,137,906],"class_list":["post-106191","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-appwebview","tag-aud-growth","tag-aud-headline","tag-aud-url","tag-business-roundup","tag-canada","tag-noastack","tag-yesapplenews","tag-yessnap"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/106191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=106191"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/106191\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/106192"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=106191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=106191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=106191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}