Prime Minister Mark Carney has unveiled a new set of nation-building projects designed to accelerate development across critical sectors and reduce Canada’s reliance on the United States. The latest list includes major energy, mining and transmission projects across British Columbia, Ontario, Quebec, New Brunswick and Nunavut. Although each project aims to strengthen long-term economic security, several face delays, funding gaps or opposition from local First Nations. The plan follows an earlier round announced in September, part of a broader strategy to fast-track key projects across energy, ports and public infrastructure.
Canada in Contention to Host Defence Finance Hub
Canada is now a contender to host the headquarters of a new multinational Defence, Security and Resilience Bank. The institution, expected to launch by 2026, will finance defence projects for NATO members and allies. If selected, Canada could gain about 3,500 high-skilled jobs and a central role in shaping global defence financing. With major financial institutions already committed to supporting the bank, member countries will contribute funding either upfront or through emergency reserves. Because contributions count toward NATO’s defence spending targets, the proposal carries strategic appeal.
Large Employers Driving Job Growth
Despite economic pressures, Canada’s job market has shown signs of resilience. However, most of the recent growth has come from companies with more than 500 employees. Large employers added over 592,000 positions this year, while smaller firms shed more than 300,000 jobs. This growing divide highlights the strain placed on Canada’s smaller businesses during the trade dispute with the United States. The trend has helped lower unemployment to 6.9 percent but suggests deeper structural challenges for Canada’s labour market.
Saab Confirms Talks to Build Gripen Jets in Canada
Saab’s chief executive confirmed ongoing discussions with Ottawa and Bombardier about producing Saab’s Gripen fighter jet in Canada. Talks are scheduled to advance during the upcoming visit of Sweden’s King Carl XVI Gustaf and Queen Silvia. Saab claims that domestic production could create up to 10,000 jobs and establish a research network for future aviation programs, including drones. Because the GlobalEye surveillance jet already relies on Bombardier airframes, the companies share a strong industrial link that Canada may leverage in future defence decisions.
Ruby Liu’s Attempt to Revive Hudson’s Bay Stores Falters
A controversial plan by B.C. real estate executive Ruby Liu to take over leases for former Hudson’s Bay locations has collapsed. Liu proposed replacing more than two dozen stores with a new chain branded under her own name. However, mall owners raised concerns about her lack of retail experience and the absence of a credible operational strategy. As the court-supervised liquidation process unfolded, inconsistencies between public promises and internal planning raised further doubts. Industry leaders said the plan was unrealistic and unlikely to succeed in a competitive retail sector.
