Canada is getting a sovereign wealth fund. What does that mean and how do they work?

Prime Minister Mark Carney announced the creation of the country's first-ever sovereign wealth fund on Monday, called the Canada Strong Fund.

Carney pitched the new fund as a way for Canadians to invest in nation-building projects in areas that include energy, infrastructure, mining, agriculture and technology.

Here's what you need to know about sovereign wealth funds and how they operate.

What is a sovereign wealth fund?

Prime Minister Mark Carney announces Canada’s 1st sovereign wealth fund

OTTAWA -

Prime Minister Mark Carney announced the country's first national sovereign wealth fund on Monday, pitching it as a way for Canadians to invest in nation-building projects.

Carney said the Canada Strong Fund will invest in major Canadian industrial projects in areas such as energy, infrastructure, mining, agriculture and technology.

The prime minister said the federal government will put up funds starting at $25 billion to invest alongside private investors. He said individual Canadians can also put money into the fund and suggested it would be similar to purchasing a government bond, where the initial investment is protected.

Court rules against Manitoba First Nation in barge battle with Crown corporation

A Manitoba judge has dismissed a request from Poplar River First Nation asking a federal Crown corporation be ordered to continue operating a barge on Lake Winnipeg, ruling the Court of King’s Bench does not have jurisdiction in the matter.

The federal government has been looking to divest itself of the Freshwater Fish Marketing Corp., which held a monopoly on fish marketing and sales in the country upon its creation in 1969. It has since lost economic power as provinces, including Manitoba, have opted out.

A government-appointed advisory council, established in 2018, recommended several years ago that regional fishing groups and processors, or an Indigenous economic development corporation, take the reins as a private, user-owned operation.

Poplar River is concerned the divestment will end the community’s use of the MV Poplar River barge, owned by the Crown corporation. The remote First Nation on the east shore of Lake Winnipeg relies on the barge to drive its economy through fishing.

Winnipeg to host three-day World Indigenous Business Forum in late October, delegates can expect ‘Manitoba experience’

After playing host to the World Indigenous Business Forum around the world, founder Rosa Walker is bringing the annual conference to her home city for the first time.

Winnipeg will host this year’s event Oct. 26-28. The conference will bring together Indigenous entrepreneurs, leaders, innovators and allies from across the globe to share knowledge, build relationships and explore opportunities for economic growth and collaboration.

Since launching the conference in 2010 in New York City, Walker has held the event in places such as Namibia, Guatemala and New Zealand. This year marks the third time a Canadian city has hosted.

Indigenous Leadership Development Institute, Inc., Walker’s non-profit company, is hosting the conference in collaboration with Winnipeg Economic Development & Tourism.

City failed to read the room before ditching Sals

If ever there were a moment to rethink how governments award contracts, this would be it.

Manitoba crypto companies say provincial plans would put them out of business

WINNIPEG - Manitoba's plan to charge cryptocurrency operations higher electricity rates and curtail power at peak times will drive businesses under, officials with two companies told a legislature committee.

"If this goes through, our business goes bankrupt and a lot of families will be impacted," Guildo Theriault, co-founder and chief executive officer of Gator Mining, told a committee hearing Wednesday night.

The government has introduced two bills in the legislature that are aimed at controlling the growing demand on Crown-owned Manitoba Hydro's electrical grid.

One bill would charge cryptocurrency operations and data centres up to 100 per cent higher rates for electricity. The other would allow Manitoba Hydro to temporarily reduce power to cryptocurrency operators at peak times in order to ensure stability of the grid.

High fuel prices driving up shipping costs for northern grocers

Whether it's Florida oranges, Colombian coffee or even homegrown items from another province, food has often travelled a long way before it reaches grocery stores in Canada.

The supply chain gets even longer for communities in the Far North.

Typically, groceries are loaded onto a truck and taken to a launch point in cities like Ottawa or Winnipeg. They're then flown, or shipped by sea, to finally reach the shelves of remote northern grocery stores.

It's an expensive journey. By the time groceries reach northern communities, the added transport costs mean items are priced significantly higher than what most Canadians pay at the grocery store — and even more for fresh and perishable produce.

Wooden elevator reduced to rubble after towering over Austin for 75 years

With the demolition of the wooden grain elevator in Austin, a community about 130 kilometres west of Winnipeg, the Manitoba Historical Society estimates there are only 114 such structures remaining in the province.

Boeing commits $36M for Winnipeg projects

Canada’s next Air Force planes will be built with the help of a burgeoning workforce: robots.

AI-driven app like a grain market ‘analyst in your pocket’

Mark Lepp grew up on a 5,000-acre grain farm near Elm Creek, but he never took to farming the way his father and two younger brothers did.

“I probably frustrated everyone around me,” he said. “The real art of farming — I was not that artist.”

That hasn’t stopped the entrepreneur from making a name for himself in agriculture. In 2004, he co-founded FarmLink Marketing Solutions, which pioneered the business of providing personalized marketing recommendations for Western Canadian farmers.

“I always liked the economics part (of farming),” Lepp said. “I liked the business part.”

Jury finds that Ticketmaster and Live Nation had an anticompetitive monopoly over big concert venues

NEW YORK (AP) — A jury found Wednesday that entertainment giant Live Nation, which hosts tens of thousands of concerts a year, and its Ticketmaster subsidiary had a harmful monopoly over big venues.

The ruling, in a lawsuit brought by dozens of states, won’t immediately bring relief for concertgoers who have long complained about high ticket prices. But it could cost Live Nation hundreds of millions of dollars and perhaps force the company to sell some of its concert venues when the judge hands out penalties later.

Among other things, the jury found Ticketmaster's anticompetitive practices led to people in 22 states paying an extra $1.72 per ticket, which the judge could order the companies to pay back.

A jury in New York deliberated for four days before reaching its decision. State attorneys general who sued Live Nation said the verdict could potentially lead to lower ticket prices for music fans.

EPA may ease regulation of chemical plastic recycling, and environmentalists worry

The Environmental Protection Agency is reconsidering whether facilities that recycle plastic chemically should be held to the same strict air pollution standards as incinerators.

The possible change is alarming environmental advocates who say it would lead to more dangerous pollution spewing into communities, with fewer or no checks at the federal level. The plastics industry disputes that, saying it would clear up confusion while still controlling emissions.

The world is pumping millions of tons of plastic pollution into the environment every year. While dozens of countries and many environmental groups have urged caps on production, industry and several big oil-producing countries have resisted, arguing instead for improvements in reuse and recycling.

Chemical recycling uses heat or chemicals to break down plastics. The main method, a process known as pyrolysis, has long been regulated as incineration by the Clean Air Act. The EPA limits emissions from incinerators of nine air pollutants, including toxic particulates, heavy metals and dioxins.

Tesla leader believes Shanghai factory operations will play a role in robot mass production

SHANGHAI (AP) — A Tesla Inc. leader said Tuesday he believes its Shanghai factory operations will help resolve the challenges in achieving mass production of the company's humanoid robots as the U.S. electric vehicle giant pivots to robotics.

Wang Hao, Tesla's vice president, said the Shanghai facilities, like other Tesla factories, will contribute after the company enters an era of robots.

Wang, who also serves as president of Tesla China, told reporters on a government-organized tour of one of its Shanghai factories that CEO Elon Musk once noted having production at scale is a critical challenge in manufacturing humanoid robots.

Wang said he believes the Shanghai manufacturing arm “is a golden key to solving this challenge," but did not specify how the operation will support the company's robotic business.

Crop-enhancement firm eyes potato prosperity

Of all the research labs in all the cities in all the world, Kinneret Shefer walks into St. Boniface Hospital’s.

The researcher and entrepreneur is the co-founder of GeneNeer Ltd., an agricultural biotechnology company from Israel. Earlier this year, the company established its North American operations at the Albrechtsen Research Centre in the central Winnipeg hospital.

“We moved to Canada because our technology developed, we are moving to implementation and we have some business agreements in negotiation,” said Shefer, who holds a PhD in genetic counselling from the Hebrew University of Jerusalem.

GeneNeer launched its Canadian operations in January. The company converted laboratory facilities at the research centre and had them operating within two weeks, allowing research activities to begin almost immediately.

Northern trade corridor top of mind as Manitoba premier plans meeting with PM

WINNIPEG - Manitoba Premier Wab Kinew is planning to go to Ottawa next week for a meeting with Prime Minister Mark Carney.

Kinew says it's part of a plan the two men have to meet roughly every three months, primarily to discuss the possibility of a northern trade corridor through the Port of Churchill on Hudson Bay.

The project recently made a list of projects being considered as “transformative” by the federal government.

Studies are underway to gauge private-sector interest and examine the use of icebreakers to extend the port's short shipping season.

Energy-hungry Nova Scotia companies nearly doubled their solar power capacity in 2025

HALIFAX - Energy-hungry companies in Nova Scotia are heading toward the light.

New statistics from the province's private power utility show that commercial-scale players — which includes municipalities and First Nations — grew their capacity to generate solar energy by 82 per cent last year.

Energy consultant David Brushett says that’s partly because legislative changes a few years ago have allowed companies to install solar systems 10 times larger than before. The “net-metering” system gives firms a credit on their power bills for the electricity they generate, offsetting their own usage. Even with the new rules, they are not allowed to generate more power than their operations consume.

The program allows solar projects of up to one megawatt for commercial customers. Brushett says that size makes more financial sense. “So that allowed much larger installations,” Brushett said in an interview.

‘Long overdue’: Prairie farmers welcome renewal of poison to target pesky gophers

Prairie farmers say a move by Ottawa to temporarily lift a ban on a rodent poison is a good start to address rampant gopher populations that have decimated crops and injured livestock.

"I suspect maybe if the Bible had been written in Saskatchewan, it wouldn't have been locusts. It would have been gophers," Jeremy Welter, a farmer near Kerrobert, Sask., said Tuesday.

"I think (lifting the ban) is one of those things that is long overdue."

On Monday, federal Health Minister Marjorie Michel and Agriculture Minister Heath MacDonald announced producers can again start using two per cent liquid strychnine until November 2027 to control gophers, also known as Richardson's ground squirrels.

Manitoba Hydro reduces remote work; decision raises fears among employees at other Crown corporations

Manitoba Hydro’s decision to cut remote workdays from two to one per week for eligible employees is causing concern for other public-sector workers who worry hybrid arrangements will be eroded.

Canada not worried U.S.-Mexico trade talks will upend trilateral deal, LeBlanc says

OTTAWA - Canada-U.S. Trade Minister Dominic LeBlanc said on Monday he isn't worried Mexico will sign a trade agreement with the Americans that excludes Canada.

LeBlanc told reporters at a news conference that the Mexicans are also committed to a trilateral deal as the countries work to renew the Canada-U.S.-Mexico Agreement on trade, better known as CUSMA.

"We've also said all along that there will be a bilateral element to these discussions and there will also be a trilateral element," he said.

"The American administration and our government and the Mexicans have also been clear that there are bilateral issues that properly will be worked on together by two countries and it will necessarily form part of the discussion around the trilateral review of CUSMA as well."

‘Massive operation’: Canadian driller, shipper enlisted to help tap Greenland oil

CALGARY -

The promotional video shows a small creek trickling through a mossy patch in an otherwise brown, barren landscape, icebergs looming just offshore.

A petroleum engineer dips a hand into the stream, then takes a sniff.

"It smells like crude oil," he says, grinning at the camera.

Procurement ombud slams Indigenous procurement strategy outcomes in ‘shocking’ report

OTTAWA - Indigenous Services Canada and other departments are failing to uphold their own Indigenous procurement strategy and may be allowing contractors to use shell companies to access contracts reserved for Indigenous businesses, the federal procurement ombudsman said Thursday in a new report.

In a scathing analysis, Alexander Jeglic said Indigenous Services Canada failed to provide timely answers to procurement officers' questions in some cases and allowed some contracts to go out to companies not listed in the Indigenous Business Directory.

The report also cites a lack of oversight on contracts to ensure 33 per cent of the value of the work is done by an Indigenous contractor.

"Non-Indigenous businesses may use Indigenous businesses as shell companies — entities that meet the minimum ownership requirement on paper but do not actually perform the work — allowing them to unfairly access contracts intended to be set aside for Indigenous businesses," the report reads.