{"id":125762,"date":"2026-07-11T13:28:07","date_gmt":"2026-07-11T13:28:07","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/125762\/"},"modified":"2026-07-11T13:28:07","modified_gmt":"2026-07-11T13:28:07","slug":"carney-chooses-german-submarines-metas-13-billion-alberta-data-centre-and-revenge-of-the-tsx-business-and-investing-stories-for-the-week-of-july-11","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/125762\/","title":{"rendered":"Carney chooses German submarines, Meta\u2019s $13-billion Alberta data centre and revenge of the TSX: Business and investing stories for the week of July 11"},"content":{"rendered":"

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

Prime Minister Mark Carney makes an announcement at HMC Dockyard in Halifax on Monday.Darren Calabrese\/The Canadian Press<\/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

Canada picks Germany\u2019s TKMS over South Korea\u2019s Hanwha to build submarine fleetOpen this photo in gallery:<\/a><\/p>\n

Prime Minister Mark Carney, right, and TKMS CEO Oliver Burkhard, centre, tour a submarine-building facility in Kiel, Germany, in August, 2025.Christinne Muschi\/The Canadian Press<\/p>\n

Prime Minister Mark Carney announced Monday that Canada has picked Germany\u2019s TKMS<\/a> to build its first significant submarine fleet over South Korean defence contractor Hanwha. He said the purchase of up to 12 diesel-electric submarines will be the largest defence procurement in Canadian history. <\/p>\n

The agreement will give Canada an unprecedented ability to patrol its coastal waters undetected and create a new defence partnership for Canada with Germany and Norway. But it is an early step in a long procurement process, especially since TKMS\u2019s selection does not guarantee a final contract. The German company is now the preferred supplier, and negotiations for a contract will get under way.<\/p>\n

Meta to spend $13-billion to build AI data centre in AlbertaOpen this photo in gallery:<\/a><\/p>\n

Alberta Premier Danielle Smith announced a new Meta AI data centre will be built in Sturgeon County.AHMED ZAKOT\/The Globe and Mail<\/p>\n

On Wednesday, Meta Platforms Inc. confirmed plans to build a massive artificial intelligence data centre<\/a> in Sturgeon County, north of Edmonton. The tech giant behind Facebook, Instagram and WhatsApp says it\u2019ll spend $13-billion on the facility, which would consume 1 gigawatt of electricity. For scale, the entire city of Edmonton draws about 1.4 gigawatts. It\u2019ll be built on 1,750 acres of land, well over the size of Stanley Park in Vancouver.<\/p>\n

To meet the facility\u2019s electricity needs, a $4.6-billion natural gas plant will be built in Sturgeon County by Pembina Pipeline Corp., Morgan Stanley Infrastructure Partners and Kineticor Asset Management. <\/p>\n

Around 70 data centre proposals have been announced in Canada since 2024, but only a handful<\/a> have started construction, according to data from Aterio, a Vancouver-based company that tracks the industry. Bell is building a 300-megawatt data centre campus<\/a> in Saskatchewan, while Telus is constructing two in Vancouver<\/a>, including a 100-megawatt facility.<\/p>\n

Air Canada names Scandinavian Airlines chief Anko Van der Werff as next CEOOpen this photo in gallery:<\/a><\/p>\n

Scandinavian Airlines CEO Anko van der Werff, pictured last week in Copenhagen, Denmark, was named Air Canada’s next CEO on Wednesday.Tom Little\/Reuters<\/p>\n

Air Canada has named Anko Van der Werff<\/a> as its next chief executive officer. Mr. Van der Werff, who is Dutch, has been the CEO of Scandinavian Airlines (SAS) since 2021, and has held senior roles at several other international airlines. He replaces Michael Rousseau, who announced his retirement<\/a> in March after coming under fire for an English-only condolence video after a fatal LaGuardia crash.<\/p>\n

Air Canada said in a statement that Mr. Van der Werff was chosen in a \u201ccomprehensive global search\u201d that included \u201ca number of performance criteria, including the ability to communicate in French.\u201d The airline said he has also learned Spanish, Italian and Swedish at different levels over the course of his career. Mr. Van der Werff assumes his new role by the end of January.<\/p>\n

Revenge of the TSX: How the Canadian stock market quietly became a world beater Open this photo in gallery:<\/a><\/p>\n

Canada\u2019s place at the top of the global stock market leaderboard is unexpected for a country many thought was doomed.Aaron Vincent Elkaim\/The Canadian Press<\/p>\n

Over the past two years, the Canadian stock market has gained nearly 55 per cent, after factoring in inflation. That ranks among the very best two-year stock rallies in history, such as the dot-com boom of the 1990s and the rebound from the global financial crisis beginning in 2009.<\/p>\n

That\u2019s far better than global stocks have managed over the same period. And it\u2019s nearly double the growth in the S&P 500 index, even though it\u2019s stacked with trillion-dollar giants.<\/p>\n

Canada\u2019s place atop the leaderboard is an unexpected twist for a country many thought was doomed. But the story the stock market is telling is that corporate Canada has learned to thrive in an era of perpetual crisis. Here\u2019s a closer look at some of the big-name Canadian stocks<\/a> that have defied the odds.<\/p>\n

How Halifax\u2019s \u2018defence city\u2019 dreams are running into a riptide of infrastructure risksOpen this photo in gallery:<\/a><\/p>\n

Halifax Mayor Andy Fillmore walks along the Halifax Harbour waterfront. He says the city is stretched thin because of it’s recent growth spurt, due in part to an influx of new residents during the COVID-19 pandemic.Darren Calabrese\/The Globe and Mail<\/p>\n

Halifax is being touted by local politicians as \u201cCanada\u2019s defence city.\u201d It is poised to anchor a generational economic boom driven by the federal government\u2019s plan to invest billions of dollars into its defence sector, including this week\u2019s submarine fleet announcement. <\/p>\n

There is a widespread conviction across Halifax that the region will ultimately capitalize on this massive influx of defence spending. It represents a chance to catch strong economic wind \u2013 more jobs, more investment, more growth. <\/p>\n

But Halifax is fighting institutional undercurrents that risk proving just as strong. The region\u2019s basic civic infrastructure can barely handle the status quo, leaving serious questions<\/a> about whether a city built on a 19th-century foundation can support the weight of its newest national ambitions.<\/p>\n

\nCompanies are competing to expand cryptocurrency trading in Canada, but what is not yet clear is how investors will respond. How has bitcoin, the best-known cryptocurrency, performed over the past year?\n <\/p>\n

a. It has lost about 40 per cent of its value<\/p>\n

b. It has gained about 20 per cent<\/p>\n

c. It has held its value but with considerable volatility<\/p>\n

d. It has held its value with next to no volatility<\/p>\n

a. Bitcoin has lost about 40 per cent of its value in Canadian dollar terms over the past 12 months, but that hasn\u2019t stopped companies from seeking to cash in<\/a> on investors\u2019 willingness to trade digital tokens. On June 30, Webull Canada announced it would offer cryptocurrency trading after receiving approval from the Canadian Investment Regulatory Organization. One day later, the U.S-based brokerage Robinhood Markets, officially launched its popular trading app in Canada with a focus on crypto. <\/p>\n

Get the rest of the questions from the weekly business and investing news quiz<\/a> , and prepare for the week ahead with The Globe\u2019s investing calendar<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Prime Minister Mark Carney makes an announcement at HMC Dockyard in Halifax on…\n","protected":false},"author":2,"featured_media":125763,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[98],"tags":[136,902,903,904,905,111,484,137,906],"class_list":["post-125762","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mark-carney","tag-appwebview","tag-aud-growth","tag-aud-headline","tag-aud-url","tag-business-roundup","tag-mark-carney","tag-noastack","tag-yesapplenews","tag-yessnap"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/125762","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=125762"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/125762\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/125763"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=125762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=125762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=125762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}