Shopify Shares Surge to Overtake RBC as Canada's Largest Stock
The e-commerce provider's market capitalization rose to C$275 billion, surpassing Royal Bank of Canada in value once again. Shopify eclipsed Bloomberg Terminal the bank five years ago but lost the No. 1 spot in 2022, when it fell victim to what was known as the Canadian market curse. The curse is a reference to other public companies that have edged past the country's largest bank and subsequently saw their shares drop dramatically, including BlackBerry Ltd., Encana and Nortel Networks.
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New federal entity to prioritize Canadian-made, affordable housing projects
OTTAWA — Prime Minister Mark Carney's promised new entity to spur massive amounts of housing construction will prioritize the building of affordable housing and the use of Canadian materials, says a consultation document published by the government on Monday. The document shared by Canada's housing department says Build Canada Homes is also intended to accelerate the speed at which federal lands are converted to housing, and to stress the use of materials, manufacturing and construction methods that reduce the cost and environmental impact of building. It says financial and non-financial tools being explored include loans, equity investments, real property and housing investments, loan guarantees and contributions. The department is still working on the program's design and says it's accepting feedback from the public until the end of the month. The document, released as part of a consultation process with builders and other industry stakeholders, says Build Canada Homes is positioned to support projects that deliver a "significant number" of affordable housing units. It also says the government will look at projects that expand the supply of housing run by organizations like co-ops, non-profits and Indigenous housing providers. The document says the government will look for opportunities to use Canadian-made materials and regional production hubs, and to boost the efficiency of public dollars through tools like below-market-rate loans or private or philanthropic capital. It will also prioritize projects that use new methods of construction, like prefabricated or 3D-printed construction. Housing affordability was a major issue in the recent federal election, as there haven't been enough homes built in Canada to keep up with population growth. The Canada Mortgage and Housing Corporation said in a June report that Canada needs to build between 430,000 and 480,000 new housing units over the next decade, to bring housing costs back to where they were before the pandemic. Carney promised in his election platform that his government would invest $6 billion in the Build Canada Homes initiative. The platform said Build Canada Homes would act as a developer to build affordable housing at scale, including on public lands. It also promised to provide over $25 billion in financing to prefabricated homebuilders in Canada, support affordable homebuilders and incentivize companies to hire apprentices and recent graduates by establishing new requirements on federal contribution agreements to major projects. Caroline Desrochers, parliamentary secretary to the minister of housing and infrastructure, said in a recent interview with The Canadian Press that the government is exploring options for Build Canada Homes, which could potentially become a separate agency or a unit within Housing, Infrastructure and Communities Canada. She said the government is aiming to launch the program in the fall and is "going to start doing work right now with what we have already" while exploring the best governance for the entity. Desrochers said the goal is to not create "more layers of bureaucracy and approvals." Desrochers said representatives from the government and the CMHC are on a task force created to develop the options for the new program. She said the government is also in discussion with several promoters and modular and prefabricated home companies to see what projects are ready for funding and to be built. This report by The Canadian Press was first published Aug. 11, 2025. Catherine Morrison, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Puck to drop on LeBreton Flats arena as Sens, NCC announce land sale
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Trump meets with Intel CEO after demanding he resign
US President Donald Trump on Monday said he had a "very interesting" meeting with the chief of US chip maker Intel, just days after calling for his resignation. Trump said on his Truth Social platform that he met with Lip-Bu Tan along with Secretary of Commerce Howard Lutnick and Secretary of Treasury Scott Bessent. "The meeting was a very interesting one," Trump said in the post. "His success and rise is an amazing story." Trump added that members of his cabinet are going to spend time with Tan and bring the president "suggestions" next week. Intel did not respond to a request for comment. Trump demanded last week that the recently-hired boss of Intel resign "immediately," after a Republican senator raised national security concerns over his links to firms in China. "The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem," Trump posted on Truth Social last Thursday. Tan released a statement at the time saying that the company was engaged with the Trump administration to address the concerns raised and ensure officials "have the facts." Intel is one of Silicon Valley's most iconic companies but its fortunes have been dwarfed by Asian powerhouses TSMC and Samsung, which dominate the made-to-order semiconductor business. In a statement, Tan said there has been "a lot of misinformation circulating" about his past roles at Walden International and Cadence Design Systems. "I have always operated within the highest legal and ethical standards," Tan said. The Malaysia-born tech industry veteran took the helm at struggling Intel in March, announcing layoffs as White House tariffs and export restrictions muddied the market. Intel's niche has been chips used in traditional computing processes, which are steadily being eclipsed by the AI revolution. gc/bjt Sign in to access your portfolio
