Great Glebe Garage Sale returns
The Glebe was once again transformed into a treasure hunter's dream as thousands packed the Ottawa neighbourhood looking to score a bargain. CTV's Camille Wilson reports.
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National Post
an hour ago
- National Post
How a multibillion dollar defence bank could help Canada increase its military spending
A new multilateral defence bank aims to help Canada and its allies build their militaries to meet looming threats in an increasingly hostile world while also giving Canadian industry a leg up when it comes to producing weaponry and military kit to tackle those threats head on. Article content And its Canadian president is hoping it will have a major presence in Toronto. Article content Article content Announced this past spring, the new Defence, Security and Resilience Bank could solve financial problems for countries, including Canada, that are under pressure to increase military spending beyond two per cent of their gross domestic product (GDP). Some estimates peg the more likely target as five per cent of GDP as Russia and China grow increasingly belligerent on the world stage. Article content Article content 'We have to use our capital markets of allied nations for overwhelming force against our foes,' Kevin D. Reed, the new bank's president and chief operating officer, said in a recent interview. Article content Article content 'Hopefully that acts as a form of deterrent against big conflicts.' Article content The United Kingdom 'has emerged as the lead candidate to take this on,' according to Reed. 'That being said, we've … advocated to our Canadian government that there's a window here for Canada to take a co-leadership role with the U.K.' Article content Reed would like to see a branch of the bank located in Toronto. Article content If Canada chose to be the bank's host nation, or to co-host with London, 'you're probably looking at 2,500-3,500' banking jobs in Toronto, he said. Article content The bank would be owned by member nations, including NATO and Indo-Pacific countries. Article content 'They would capitalize the bank, we would get a triple-A rating, and we would take it to the bond market to raise money,' Reed said. Article content 'If we have all 40 nations in, we would expect about $60 billion of equity into the bank over time, and then subject to the bond markets we would seek to raise $100 billion at first, taking that up to about $400-500 billion over time.' Article content Article content For countries that don't have a triple-A credit rating, it would mean a lower cost to capital, he said. Article content It would also allow nations in immediate need of more defence dollars to tap the bank for money, rather than waiting for annual budget cycles. Article content 'The real driver in this is that it would provide credit guarantees to commercial banks to lend into the defence sector,' Reed said. 'Most commercial banks … unless you're a big prime (like Boeing), if you're a number two or three or four in the supply chain, you're almost unbankable, historically, because of ESG (an investing principle that prioritizes environmental and social issues, as well as corporate governance) and just a view of defence.'
CTV News
an hour ago
- CTV News
U.S. tourism is trying to woo back Canadian travellers. Is it working?
Canada's airports were bustling in April, but fewer passengers were flying to the United States, a sign that efforts by American destinations to win back Canadian tourists may be falling flat. A new Statistics Canada report found that for the third month in a row, the number of travellers screened to fly from Canada to the U.S. dropped compared to the same time last year. Meanwhile, traffic was up for both domestic and international travel. Canadian airlines appear to be pivoting in response. Air Canada recently announced its 'largest winter expansion,' with 13 new routes and 16 per cent more seat capacity to Latin America. The carrier is now offering more than 55 daily flights and over 80,000 weekly seats to the region. WestJet says it's adjusting, too. 'In response to shifting demand, WestJet did recently reallocate aircraft from some routes between Canada and the U.S. toward connectivity and frequency within Canada, internationally between Canada and Europe, and between Canada and popular sun destinations,' the airline said in a written statement to 'WestJet remains engaged with industry partners in conversations focused on lessening long-term impacts on travel and tourism — industries that we know rely on the sustained confidence and movement of people on both sides of the Canada-U.S. border.' 'California Loves Canada' In an effort to stifle the drop in visitors, some U.S. states have rolled out targeted campaigns aimed specifically at Canadians. Visit California, a nonprofit corporation formed to market California as a desirable tourism destination, teamed up with Expedia to launch the 'California Loves Canada' campaign in May. Organizers say it's been 'resonating with Canadians.' 'As of May 31, Canadian travellers have booked rooms at 1,740 California hotels that are offering exclusive deals for Canadians,' Caroline Beteta, president and CEO of Visit California, told in an emailed response. 'With most bookings set for travel this summer, we anticipate seeing a real uptick in Canadian arrivals as the year plays out.' Beteta says the campaign is driven by California-based industry partners offering special discounts to Canadians, adding the feedback has been positive. According to Beteta, saw traffic increase by more than five per cent in May, with engagement up nearly 15 per cent. 'Click-through rates from organic search are a whopping 2,800 per cent higher than what we typically see,' she added. Atlantic Canada seeing tourism spike Despite these efforts, one travel agent told that a portion of the market is still hesitant about travelling to the U.S., due to concerns about the border, politics, or just the general vibe. Jason Sarracini, founder and CEO of Landsby, a Canadian domestic travel website, says there may be some cross-border traffic in upstate New York, but his company isn't 'seeing anything meaningful.' However, Sarracini did say one spot within Canada is getting lots of attention. 'Atlantic Canada is the one that's really stood out this year,' Sarracini said. 'It's that destination, which is pretty intimate, gives you a really good sense of the people and the flavour, and is not as expensive as the West Coast and the Rockies in the summer.' Sarracini also stressed the growing importance of Indigenous tourism, which he says is attracting more interest from both Canadian and American travellers. '(Americans) don't necessarily want it to be their entire trip, but they do want components of that educational side, especially those who have maybe been to Canada before,' he said. Calling for accessible Canadian travel Julie Smigadis, owner of Travel Our World agency, says her U.S.-bound bookings have slowed in recent months, with some would-be clients choosing to cancel outright. 'I had a large anniversary trip to Disney cancelled,' she said in a video interview with 'It was an (LGBTQ2S+) couple and they just felt very unsafe and kind of not very welcome. They ended up rebooking into Mexico, even though they lost a little bit of money on the file.' Instead, Smigadis says more of her clients are opting to explore Canada, especially destinations like Banff, Alta., Vancouver, Newfoundland and Labrador and Prince Edward Island. But affordability is a challenge, even for domestic trips. 'The pricing and the availability is so crazy,' Smigadis said. 'It's unfortunate because, especially as a travel agency, I do want to show off this gorgeous country of ours and especially in this moment where we come together as Canadians.' She says greater cooperation between governments, airlines and hotels is needed to make Canadian travel more accessible. 'I wish the Canadian companies, Canadian airlines, and Canadian hotels would incentivize Canadians to stay within Canada,' she said. 'There has to be some way for us to make it more accessible — for our dollars to be used here as opposed to going abroad.' Data from Expedia supports the broader trend. According to the company's first-quarter earnings call, Canada's inbound travel to the U.S. was down nearly 30 per cent in the first quarter. 'While we've been seeing recent fluctuations in U.S. search activities, Canadians are still eager to travel and have been rediscovering all the beauty Canada has to offer,' said Melanie Fish, head of Expedia Group brands public relations in the company's Summer Travel Outlook. 'This is a very emotional thing' Some American tourism operators say they're feeling the downturn directly. 'This isn't something you solve with a few dollars off. This is a very emotional thing,' said Paul Dame, owner of Bluff Point Golf Resort in Plattsburgh, N.Y., in a video interview with 'The stuff that's being said is just downright not nice to Canadians, and unfortunately, that has definitely put a damper on our business.' Dame's resort, just an hour south of Montreal, typically relies on Canadian visitors. But those numbers are down sharply this year. 'The start of the season, April and May, we were 30 per cent behind last year,' Dame said. 'Lodging reservations were 22 per cent down … I would say about 25 per cent of our regular guests have decided not to return.' He said he's personally reached out to dozens of long-time customers, many of whom have visited for more than a decade. 'They said, 'We love you, we love Bluff Point, but we're not going to be coming back to the United States this year,'' he said. 'That was 49 out of about 130 groups.' The resort is still seeing some large group bookings go through, but individual golfers and day trippers have dropped off drastically. 'We would usually see 25 to 30 cars a day in the parking lot. Now we're seeing one, maybe two,' Dame said, adding the daily golfer is second-guessing a trip to the U.S. Despite the challenges, Dame said he's working on a new outreach video to reconnect with Canadians. 'I hope that we at least start to move in the right direction, so that we can rebuild the greatest cross-border relationship anywhere in the world,' he said. 'We've been friends and partners for decades … it would be great for both sides to just move forward, make amends, and hopefully continue a friendship that was a long time made.'
CBC
2 hours ago
- CBC
$33B in construction spending for Labrador megaprojects is welcome news for industry
While shovels aren't yet in the ground and no labour contracts are signed, billions of dollars in planned construction spending for a new megaproject has many optimistic about the positive impact the new Churchill Falls deal will have on Newfoundland and Labrador. A memorandum of understanding for Churchill Falls hydroelectric plant and other projects was announced in December and is set to be finalized in April 2026. It will require approximately $33 billion in construction contracts between Churchill Falls and Gull Island. "Thirty-three billion [dollars'] worth of construction is significant, no question," Trades N.L. executive director Bob Fiander told reporters while attending Energy N.L.'s annual conference in downtown St. John's earlier this week. Stéphane Jean, a senior director with Hydro-Quebec, says construction on Gull Island's temporary infrastructure, like the work camps and roads, will begin next year, while construction at the Churchill Falls extension will begin in 2029. Fiander says his members need this work. "We're about 70 per cent unemployed," he said. "We're looking forward to getting shovels in the ground and that's important for us because, you know, when our members are not working, they're not getting paid. They're looking elsewhere." While there haven't been any signed labour agreements, he says he's looking forward to what lies ahead. Fiander says he also welcomes the news from Prime Minister Mark Carney on fast-tracking projects deemed "nation-building." "Fortunately for Newfoundland and Labrador, we have a number of projects that could be nation-building projects," said Fiander. 'Optimistic about the future' Energy N.L. CEO Charlene Johnson says the investment will mean a lot of work for her members through construction, environmental work and building transmission lines. "That's very exciting for our members because really we're at a little bit of a lull in the industry now and I'm very optimistic about the future," she said. Johnson added Bay du Nord won't have a decision on its future for some time, making the Churchill Falls deal the next big project in the province. She says Energy N.L. members will have to be ready soon for work on the camp, roads and bridges needed in Labrador. "They said they want to move quickly because all of this has to happen in very short order if they're going to have this power in place within 10 years," she said. Brad Forsey, director of business development for the Cahill Group and vice-chair of Energy N.L. board of directors, says there's going to be a lot of long-term construction work ahead of the sector. "It's a great opportunity for us to be involved from the beginning all the way to the end. We've been involved in similar type projects in this industry and adjacent industries. And we look forward to the opportunities that we have here in front of us," he said. Forsey agreed with Johnson that these projects are important. "There is a bit of a lull right now, but we need to make sure that we're ready and we need to communicate and show to them that we're ready."
