HEADLINES
Inflation Cooled to 2.8% in June as Gasoline Decelerated
Canadian inflation eased last month as drivers saw some temporary relief at the pumps.
The country's consumer-price index fell 0.4% in June, marking its steepest decline in 18 months thanks to a sharp drop in gasoline prices, Statistics Canada said. That left the annual pace of inflation at 2.8%, returning it to where it stood in April.
The 0.4-percentage-point drop in the index compared with a year earlier was steeper than that expected by economists, who had penciled in inflation of 3%, though gas prices remain elevated.
Bank of Canada to Remain Comfortably on Sidelines With CPI Data, Analyst Says
Fears of Energy-Cost Pass Through Yet to Materialize in Canada
Brookfield and CPP Investments to Buy LXP Industrial for $5.2 Billion
Brookfield Asset Management and Canada Pension Plan Investment Board have agreed to buy LXP Industrial Trust in an all-cash deal valued at about $5.2 billion, adding a portfolio of modern warehouse and logistics facilities to their holdings.
Under the deal, which includes net debt and preferred equity, LXP Industrial shareholders will receive $61.20 a share in cash, representing a more than 12% premium to the stock's 30-day volume weighted average price, the companies said Monday.
The transaction is expected to close during the fourth quarter, at which time LXP Industrial would become a privately held company, with shares no longer trading on the New York Stock Exchange.
Healthpeak Properties Sells Brookfield Minority Stake in $2.1 Billion Portfolio
Hut 8 Signs $9.8 Billion Lease, Fully Commercializing Texas Data Center
Hut 8 said a tenant at its data center campus in Nueces County, Texas, has doubled its contracted capacity, signing a 15-year, $9.8 billion lease for 352 megawatts of IT capacity.
The artificial-intelligence infrastructure developer didn't name the tenant, describing it instead as a high-investment-grade company that previously executed a lease during the data center's first phase of commercialization.
With the new lease, Hut 8 said its one-gigawatt Beacon Point data center campus is fully commercialized.
Hut 8 shares rose 10.7% to C$141.92 in Toronto.
Atco Gets Nod to Start Construction on $2.9 Billion Alberta Pipeline
Atco has received final approval from regulators to start construction on a $2.9 billion natural gas pipeline in Alberta.
The Canadian utilities company said that the Alberta Utilities Commission has given one of its subsidiaries, Canadian Utilities Limited, final approval for the Yellowhead Pipeline project.
The natural gas infrastructure project will support economic growth, industrial expansion and rising energy demand in Alberta, the company said. The pipeline will run from the Peers area to the Fort Saskatchewan area and one compressor station.
Orezone Gold Resumes Operations at Quebec Mine
Orezone Gold Corp. said it has resumed operations at its Casa Berardi mine in Quebec on Friday evening, ending a three-day, voluntary suspension due to nearby wildfire activity.
The company on Monday said a skeleton workforce remained on site during the temporary suspension to preserve the operation.
The crew also advanced certain planned maintenance activities that were originally scheduled to occur later in the year, Orezone said, adding that as a result, the company expects to benefit from reduced maintenance downtime in 2026.
Orezone shares ended Monday's trading session up 4.7% at C$2.21.
RTX's Pratt & Whitney Canada Gets $1 Billion Contract from V2X
The RTX subsidiary Pratt & Whitney Canada has been awarded a $1 billion contract from V2X to overhaul engines used to power the U.S. Joint Primary Aircraft Training System's fleet.
The company said that the nine-year contract will have it overhauling more than 750 PT6A-68 engines that power the system's T-6 trainer fleet.
V2X, based in Reston, Va., is the manager of maintenance and supple for the military's trainer plane fleet.
Kinaxis Names Herb Yeh Chief Financial Officer
Kinaxis named Herb Yeh as chief financial officer and chief strategy officer, effective July 27, an appointment that comes as the supply-chain company eyes global growth.
Yeh succeeds Blaine Fitzgerald, who in May left the company for a new opportunity.
Yeh joins the Ottawa-based company from Evercore, where he was senior managing director leading the firm's technology strategy advisory practice, focusing on software.
TALKING POINT
Carney Offered to Double Oil Exports to U.S. as Part of Potential Deal, Hoekstra Says
By Adrian Morrow of the Globe and Mail
The U.S. ambassador to Canada says that Prime Minister Mark Carney offered to double exports of Canadian oil to the United States as part of a prospective trade deal last year.
Pete Hoekstra, speaking at a conference in Edmonton on Monday, said that Carney made the pitch during an Oct. 7, 2025, meeting at the White House. Interior Secretary Doug Burgum and Energy Secretary Chris Wright were eager to take the deal, Hoekstra said, but President Donald Trump held them back.
At the time, Carney was trying to reach a deal to get Trump to drop or reduce his tariffs on Canadian steel, aluminum, autos and other goods. No deal was ever reached, as Trump walked away from talks later that month over an anti-tariff advertisement from the Ontario government.
Hoekstra said that Carney's offer was for Canada to supply between three and four million more barrels of oil per day, which would roughly double current levels.
"The Prime Minister proposed, as part of a preliminary trade agreement, that Canada would be willing to ship three to four million barrels of oil to the United States, additional barrels of oil to the United States, " Hoekstra said in an on-stage interview with former Alberta cabinet minister Gary Mar at the Pacific Northwest Economic Region conference. "Doug Burgum and Secretary Wright had to be restrained by the President because they were so eager for getting more oil and getting it from Canada."
Hoekstra said Trump "had to advise them that crawling across the table and shaking Carney's hand" was "not necessarily the best negotiating strategy" and to "show a little bit more restraint, that we do have options."
The Prime Minister's Office did not immediately provide a response to Hoekstra's comments.
Canada is by far the largest supplier of crude oil to the U.S., accounting for nearly two-thirds of American imports. Its reliance on Canadian oil is the main reason for Washington's goods trade deficit with Ottawa, about which Trump frequently complains.
But Hoekstra said it would be a good idea for the U.S. to import more oil from Canada.
"We want oil, we need oil and we have found over the last couple of decades that one of the best places in the world to get oil from is Canada. It's close by, the people that we have to work with in Alberta are great business partners, they're good businesspeople," he said, adding that the U.S. wants to import more oil and "probably the region that can make the most compelling case for supplying more oil to the United States would be Saskatchewan and Alberta."
He also said that he believed a proposed cross-border pipeline by Canada's South Bow and the U.S.'s Bridger would move ahead, creating a new connection for sending Canadian crude to the U.S.
"I'm optimistic that the pipe coming down south, the pipe going north, that they're going to meet at the border, that they're going to be at the same place," he said.
Trump in April signed a permit for the project, which must still receive state-level regulatory approvals.
Calgary-based South Bow has said it received support from oil shippers for a proposed 550,000 barrel a day pipeline across the U.S. border, where it would feed a pipeline planned by Bridger Pipeline LLC. South Bow expects to make a final investment decision on the project around the middle of 2027.
Carney spent much of last year trying unsuccessfully to reach a deal with Trump to mitigate the worst of the U.S. President's trade war. Ultimately, Trump terminated the negotiations. The two countries resumed talks this spring but there has been little indication of progress.
Hoekstra has been one of Trump's most bombastic representatives on the world stage. Shortly after Ontario's anti-tariff ad, The Globe and Mail reported, Hoesktra screamed and swore at David Paterson, the province's representative in Washington, at a dinner in Ottawa.
--With reports from Jeff Jones and Reuters
Expected Major Events for Tuesday
05:00/JPN: Jun Convenience Store Sales
06:00/UK: Jun UK monthly unemployment figures
06:00/UK: Jun Public sector finances
09:05/GER: Jul ZEW Indicator of Economic Sentiment
12:55/US: 07/18 Johnson Redbook Retail Sales Index
14:00/US: Jun State Employment and Unemployment
20:30/US: API Weekly Statistical Bulletin
23:50/JPN: Jun Provisional Trade Statistics for the Month
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Tuesday
3M Co $(MMM)$ is expected to report $2.21 for 2Q.
ASA Gold & Precious Metals Ltd $(ASA)$ is expected to report for 2Q.
Ally Financial Inc $(ALLY)$ is expected to report $1.18 for 2Q.
Atlantic Union Bankshares Corp $(AUB)$ is expected to report $1.00 for 2Q.
Auburn National Bancorporation Inc (AUBN) is expected to report for 2Q.
Bank First Corp $(BFC)$ is expected to report $2.25 for 2Q.
Blue Ridge Bankshares Inc (BRBS) is expected to report for 2Q.
CSB Bancorp Inc (CSBB) is expected to report for 2Q.
Capital City Bank Group Inc (CCBG) is expected to report $0.90 for 2Q.
Charles Schwab Corp $(SCHW)$ is expected to report $1.49 for 2Q.
City Holding Co $(CHCO)$ is expected to report $2.22 for 2Q.
DR Horton Inc $(DHI)$ is expected to report $2.97 for 3Q.
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July 20, 2026 16:29 ET (20:29 GMT)
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