Latest News
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Canada - June 30
These are the 'top stories' from selected Canadian newspapers. The?reports?have not been verified and?we cannot vouch for the accuracy of these stories. THE GLOBE AND MAIL Theravance Biopharma, based in Dublin, is being acquired by Vancouver-based Zymeworks for C$1.32 Billion ($927.49 Million) cash. This marks the Canadian company's entry into the respiratory illness treatment market. The deadline for the submission of a proposal to the federal government for consideration is July 1. NATIONAL POST Alberta will unveil its proposal to build a new pipeline that would transport a million barrels of oil per day to the West Coast on Thursday. This is to diversify Canada's exports to Asian markets, in the face of tariffs imposed by U.S. president Donald Trump.
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What is the British Defence Investment Plan?
The UK unveiled their long-delayed Defense Investment Plan?on Tuesday. It outlines how they intend to spend an?growing budget for the military in the next few years, as they prepare for future conflicts. Here are some of the details that?the?government? has announced: BIG KIT and INFRASTRUCTURE The Global Combat Air Programme will receive PS8.6billion over the next 4 years. This is a joint British, Italian and Japanese project to develop a new jet fighter, also called Tempest by the British. The project is being led by BAE Systems, Mitsubishi Heavy Industries and Leonardo. - 63 billion pounds sterling over the next four-year period to fund the new Dreadnought, SSN-AUKUS and new warheads as well as the purchase of 12 F-35A jet fighters. - Upgrade naval bases over a period of 10 years for PS26 billion. - PS11billion on munitions, weapons and a variety of attack drones. These include long-range strike weapons and?low-cost missiles. 790 million pounds sterling over four years will be spent on new radars, sensors, anti-drones systems, and upgrading the air-defence weapons system of the Type 45 destroyers. NEW TECHNOLOGY 5 billion PS over a period of four years for funding drones in the armed services, including drone fighters, attack drones and armed drones that will work with Apache helicopters. - PS650mn of that investment is allocated to inexpensive, disposable autonomous systems. - 2 billion PS to integrate the armed forces via a "digital target web", in order to accelerate decision-making through AI and software. -?Britain also announced that its Royal Navy will become a hybrid navy, combining autonomous ships and AI with aircraft and warships. The government scrapped plans to replace Royal Navy Type '45 destroyers in favor of procuring at least six 'Common Combat Vessels' to act as control hubs for systems without crews, due to enter service by the 2030s. There will be new high speed boats for the Royal Marine Commandos. (Reporting by William James and Sarah Young, Editing by William Maclean and Alex Richardson) (Reporting and editing by William Maclean, Alex Richardson and Sarah Young)
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Images from Estonia show machine guns on Russian LNG carriers in Baltic
Estonia released photos of a Russian flagged liquefied gas carrier with machine guns and sandbags in the Baltic Sea in spring. This indicates a more confrontational approach by Moscow to protect its civilian fleet. Surveillance images show machine gun positions fortified on the?the?bridge roof of a civilian vessel, the Marshal Vasilevskiy. Its home port is Kaliningrad. Yoruk isik, a geopolitical expert who runs the Bosphorus Observer consulting, described it as "a crazy step" by civilian vessels operating in the Baltic. Isik said that "this is a hostile act by Russia" to send a signal to EU and NATO nations, saying it would actively oppose any attempts to detain its ships or inspect them. There is no justification to use a machine gun as a self-defence in the Baltic... It is clear that the seas are becoming more lawless. According to LSEG data, the Marshal Vasilevskiy - owned by Gazprom's Gazprom Flot LLC - has shipped LNG from a port in St Petersburg to Kaliningrad four times since 2025. The most recent time was May. The route follows the coastline of Estonia. A spokesperson from the Estonian Police Border Guard Service said that the images were taken in the spring of this year on the Baltic Sea... within Estonia’s area. Gazprom has not responded to a request for comment. We cannot allow the blocking of our main maritime routes. In an interview published in June 15, Nikolai Patrushev said that the Baltic and Black Seas handled a?majority' of our maritime trade. It is vital to ensure that the Russian fleet can counter all threats. Sanctions and Seizures Since the beginning of the year, nine suspected shadow fleet oil tanks - vessels with unclear ownership linked to Russia and sailing under flags to avoid Western sanctions - have all been seized in Europe. The most recent was by France on the 26th of June. The United Kingdom sanctioned the Marshal Vasilevskiy in October 2024. Canada sanctioned it in February 2025, and Australia in December 2020. Gazprom flot was sanctioned in April by the EU. Unofficially, a Baltic security official said that the vessel is unlikely to be confiscated as it doesn't fall under the shadow fleet category. It also sails under the Russian flag. The official stated that it was "hard to know what the Russians were thinking." Since the Baltic Sea was made a NATO lake in 2004, Russians are stressed by anything going on there. So maybe they're just overthinking it and overreacting. Ivo Vark, the Estonian Navy Commander, stated in April that Russia was increasing its military presence between Estonia and Finland, the route leading to the ports of St Petersburg where the bulk of Russia's exports are loaded. Vark said in April that Estonia had stopped trying to detain vessels with a Russian connection which do not?pose an immediate threat because the "risk of military escalation is too high". This week, the Estonian Navy failed to respond to a comment request. In January 2019, Putin inaugurated the Marshal Vasilevskiy which is capable of regasifying LNG directly into a gas pipeline. This was to provide a backup gas supply for Kaliningrad, a militarised exclave in Russia, in the event that gas supplies through NATO member Lithuania were disrupted. (Reporting and editing by Ros Russell in Vilnius)
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Japan's Takaichi wants deeper India-Japan ties in trade and security
The Foreign Ministry in Tokyo announced that the Japanese Prime Minister Sanae Takaichi would visit India from Wednesday to hold talks with Prime Minister Narendra Modi. These discussions will focus on boosting trade and investment, as well as strategic cooperation between 'two Asian partners. Modi visited Tokyo in 2014, where Japan promised to double its investment to $61 billion within the next decade. This visit was a result of 'deepening economic relations. The 16th India-Japan Annual Summit will be held by the two leaders. This is a "mechanism" where the prime ministers from both countries meet alternately. According to a?foreign minister's statement, the?summit is expected to review progress in trade, technology and infrastructure, as well as defence, people-to-people relations, while also addressing global and regional issues. A source in India said that Modi and Takaichi would also attend business meetings with executives from both nations. Around 1,400 Japanese firms operate in India. Nearly half are in manufacturing. According to Indian government statistics, bilateral trade in fiscal 2025/26 reached $27.5 billion, and Japanese investment in India?totaled $3.2 billion from April 2025 until December 2025. Leaders are expected to also discuss?security co-operation and efforts to promote a free and open Indo-Pacific. India and Japan, along with the United States and Australia are part of the Quad Grouping. They have steadily increased their defence and strategic cooperation in recent years. Japan is one of India's biggest investors. It has backed major infrastructure projects, including a high speed?railway corridor between the cities?Mumbai & Ahmedabad. Japanese firms have increased their investments in Indian companies. A recent $1.6 billion deal was made for a 20 percent stake in Yes Bank. (Reporting and editing by Raju Gopikrishnan; Saurabh Sharma)
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Trump's Freedom Trucks celebrate the US 250th Anniversary with a 'gift of God' message
In the six "Freedom Trucks," which will travel across the nation to celebrate America’s 250th anniversary, an AI-generated George Washington welcomes visitors. He says: "Thy Rights are a Gift from God," under a ceiling that reads "In God We trust." The "Freedom 250", a fleet of mobile museums, have been parked from Washington State, on the west coast, to North Carolina, on the east coast, in anticipation of the Independence Day holiday. The trucks are part of what supporters call a 'year-long patriotic salute' to the American Revolution and nation it spawned. Freedom 250's spokesperson Rachel Reisner stated that the organization is "sparking a unifying motion across all 50 States which celebrates the American Spirit and showcases America at its best." The trucks have also sparked some criticism. Local media in Massachusetts reported in June that residents in one town had objected against a Freedom Truck visit and it was cancelled. The critics say that the Freedom Trucks and other celebrations present an overly-religious version of American History and gloss over issues such as slavery and racism. Democrats claim that private donations and taxpayer money for Freedom 250 and the trucks are not accountable. The Institute of Museum and Library Services (an independent federal agency) provided a grant of $14 million for six trucks, which was paired with $10 million by Freedom 250. On March 3, a group of U.S. Senate Democrats wrote to Interior Secretary Doug Burgum to ask why government funds were being directed to "a privately owned entity that is not accountable to the American people," and whether these funds are mixed with private funds, "potentially from foreign sources." According to Senate staff, they haven't yet received a reply. House of Representatives Democrats are investigating whether funds appropriated by Congress to fund "America 250" celebrations have been diverted instead to the White House Freedom 250 celebration. At a House of Representatives hearing, Democratic Representative Jared Huffman, of California, said that the soaring achievements of our secular, enlightenment based founding are obscured by a gauzy Christian nationalism fiction. He was speaking about Freedom 250 sponsored events, such as the truck museum. Republicans challenged Democratic characterisations during congressional hearings. Bruce Westerman of Arkansas reminded Democrats of a preamble to the Declaration of Independence that states: "We believe these truths are self-evident. That all men are equal, and that they are endowed with certain unalienable rights by their Creator." In May Public Employees for Environmental Responsibility filed a lawsuit against the U.S. Interior Department refused to answer a Freedom of Information Act Request for documents about Freedom 250 funding and activity. The group is also investigating reports that federal workers are being used to promote private entities, funds are being used to push a political agenda and Trump's access is being sold. Aaron Lloyd, senior counsel at PEER, said that all the decisions about what events to attend, how much money to spend, and where money goes are in a "black box". "I want to see the documents from the government that show where money was spent." The White House didn't directly respond to questions regarding the role of religion within the truck exhibitions or 250th anniversary celebrations. In an email statement, Davis Ingle stated that "2026 will see a renewed patriotism" and "national pride." A "JUBILEE of PRAYER" On May 17, a Freedom Truck with its side painted in the iconic painting "Washington Crossing the Delaware" was parked only blocks from the U.S. Capitol. It served as the anchor for a "Rededicate 250 : A National Jubilee of Prayer Praise and Thanksgiving." The White House website features a Freedom 250 page entitled "America Prays." The site encourages visitors to spend an hour per week in prayer for the U.S. The site lists "pray.com", as a participant organization. The social network for religious organizations says that it collects data about its users, which it could share with other firms. Freedom Trucks was developed by Hillsdale College - a private Christian liberal arts school - and PragerU - a non-university that creates "edutainment", or content, promoting Judeo-Christian principles. PragerU created a video that?explores the ways in which elections can be robbed, showcasing mail-in ballots as a suspect, echoing Trump's widely debunked claims since he lost to Democrat Joe Biden in 2020. "Pride Month: Why do we do this?" Another video. The June celebrations of LGBTQ communities were questioned. PragerU has not responded to requests for comment regarding financial arrangements that it obtained from Freedom 250. A RELIGION INFLUED BIRTHDAY CELEBRATION? Some historians question the relevance of religious presentations to the celebration of the 250th anniversary by the Trump White House. Kate Carte is a Southern Methodist University professor of history who specializes in early American history. She noted that, during the American Revolution both Protestant "British" loyalists in the American colonies and the opposing "patriots", believed they were following their religious values. Carte said in a phone interview last week that "the conflict between Britain's colonies and Britain really had nothing to do with the religion." She added that America's founding fathers were "very aware" that religion can be divisive and decided to avoid establishing a central religion. A study conducted by the Pew Research Center in 2023-2024 found that 62% of U.S. adult citizens identify themselves as Christians. The evangelical Protestants make up 23% of this group. This is more than any single faction. Around 29% of American adult are "religiously non-affiliated". Atheists, agnostics, and 19% of Americans who say they are "nothing" in particular make up this group. The semiquincentennial of the United States is not just about religion. The Trump administration is embroiled in court cases for its attempts to remove interpretive material from national parks, including exhibits on slavery and climate changes. People who remember the 1976 U.S. Bicentennial remember it as a more peaceful celebration. Alan Spears is the senior director of Cultural Resources at the National Parks Conservation Association. He said that 50 years ago the U.S. did not engage in public discussions about the contributions made by its African American and indigenous people. Spears added that "the 1980s changed this," adding that the country has moved away from portraying its history as "guys riding horses with swords." (Reporting and editing by David Gregorio; Richard Cowan)
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Romania detonates Russian fragments of drones near the Ukraine border
The Romanian defence ministry announced on Tuesday that it had safely detonated fragments of a 'drone found in the village of Rachelu in the south-east, near to?the border with Ukraine. These debris were linked to an April attack by Russia on Ukrainian port infrastructure. EU and NATO member Romania which shares a border of 650 km (400 miles) with Ukraine said that Russian drones had breached their airspace 29 different times since Moscow began attacking Ukrainian ports on the other side of the Danube River after its full-scale invasion 2022. 15 of these incursions occurred in this year alone. Two people were injured in late May when a drone crashed into an apartment building. This was the first time that a heavily populated area within a NATO nation had been struck and caused injury during Russia's conflict in Ukraine. The Romanian Defence Ministry announced on Thursday that a local resident reported the drone fragments. These contained explosives, and had to be detonated. Romania has asked NATO allies to provide additional anti-drone capability to Romania. This includes low-altitude radars and interceptor drones. In a statement earlier this month, the?defence ministry announced that it had integrated a U.S. developed Merops interceptor drone system into its national air defences. Romania will also be boosting its air defence through the EU's SAFE rearmament Initiative. (Reporting and editing by Ros Russell.)
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Polish grid asks utilities to increase capacity during heatwave
The Polish grid operator, PSE, has asked power producers to meet their 'capacity obligations' on Tuesday evening in order to increase generation reserves. This is because the country is currently experiencing a heatwave with low wind farm production. This call is a redressal measure that the grid can take when the surplus of?generation capacity above projected demand falls below?the safe level. The PSE call is scheduled for Tuesday, from 6 pm to 9 pm local time (0400 GMT to 700 GMT). Maciej Wapinski, spokesperson for the PSE, said that "the surplus projected of 600 megawatts is not enough to meet demand." Although Poland's abundant?solar? capacity doubles the power demand at weekends, it can be difficult to supply the system on hot weekday evenings. Solar output is reduced and the?demand for electricity remains high due to air conditioning use. Low wind output makes the problem worse.
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UK's delayed defense plan puts emphasis on drones; critics claim it is short on cash
The UK will announce its long-delayed Defense Investment Plan on Tuesday. It will prioritize PS5 billion in investment into drones, with a particular focus on autonomous systems. This is to modernise its depleted military and to build it up at a time of rising threats. The blueprint was subject to last-minute debate after the former defence minister?John Healey quit earlier this month. He accused Prime Minister Keir starmer of not being able to raise the funds needed to ensure the safety of the country. However, just hours before it was to be released in its entirety, critics said that the package wasn't large enough to prepare Britain for war, especially since military officials had warned that Russia may attack a NATO nation as early as 2030. General Richard Barrons said that while the plan was a step forward, Britain would still be exposed. He told BBC Radio that the money currently available to the UK is not enough to adequately defend it. PLAN TECHNOLOGY FOCUSED FOR MODERN WARFARE Local media reported PS15 billion as a result of the plan. However, no date was given to indicate when the defence budget would reach the target of 3%, which is up from 2.6% in 2027/8. Barrons stated that the deficit would mean some equipment would not be purchased or delayed and corners would also be cut in spending on infrastructure maintenance, logistics, and training. Starmer's plan will be to attack drones, unmanned ships, and autonomous fighter jets. The government announced on Sunday that it will scrap plans to replace the ageing destroyers in favor of procuring at least six combat ships to act as control hubs for systems without crew. The United States criticised Britain in March for its inability to send a ship to the Middle East and respond quickly to a drone attack on the Royal Navy's airbase in Cyprus. Starmer is expected to make the investment plan his?last policy announcement', after he announced earlier in June that he was quitting. Andy Burnham is expected to replace him in July. He may wish to revisit the investment plan. DRONE WARFARE Dan Jarvis is Britain's new Defence Minister. A former British Army Major, Jarvis said that unmanned?systems defined modern warfare. The DIP, which he helped to reshape over the past few weeks, would ensure soldiers received the technology they need?faster. Ukraine uses 200,000 drones per month in its war against Russia. Innovations happen in weeks and not the years it took to develop the huge platforms that were the main feature of British Security during the post-Cold War period. Companies say that the nine-month delay before releasing the plan stymied investments in an industry which should be on a growth trajectory. It has also led to private criticism abroad about whether Britain is willing or able?to boost defence spending. Starmer will be attending the NATO summit from 7 to 8 July in Ankara, alongside U.S. president Donald Trump and other leaders from?alliance member countries. This is at a moment when Europe?is trying to come to terms? with the U.S. pivoting away from protecting it. The UK manager for the U.S. drone manufacturer Anduril told me that it was now possible to build a factory here in Britain. He was more interested in seeing how quickly contracts started to flow. Rich Drake, from Anduril, told BBC Radio that "the details of what the actual numbers are between each programme and when they want to spend it...these details now really matter." (Reporting and editing by William Maclean, Alex Richardson and Sarah Young)
Indian shares gain as oil prices drop and RBI measures counter IT drag
Indian benchmarks fell Tuesday, with IT stocks dragging them down on fears that U.S. interest rates may stay high for longer. However, they still posted monthly gains, as lower oil prices and measures to attract foreign investment helped stabilize the rupee.
Brent crude traded at $73 per barrel, down from the levels before the Iran conflict. It is down 42% since its peak in April of $126.4. This has eased pressure on India's inflation and current account deficit.
The Nifty 50 dropped 0.34% to 23,865.75, and the BSE Sensex slipped 0.33% to 76 478.67. The indexes gained 1.4% and 2.3% respectively for June.
The RBI has extended a subventioned?forex-swap facility to lenders for their overseas borrowings, and also allowed them to lend to nonresidents in exchange for foreign currency deposits.
"The combination of lower crude prices, rupee stability, and measures to attract foreign inflows have?improved the sentiment and liquidity," said Ajit Banerjee. He added that markets will look better if there are no new risks.
Banks, public sector banks, private banks and financials all rose by 6.1%, 6.1% 4,1% and 4.7% respectively.
Although oil prices have moderated, U.S. Inflation gauges have risen, fueling expectations that the Federal Reserve may raise rates in 2026.
IT index fell by 2.7% on June and 9.6% on Tuesday as rising U.S. prices fuelled expectations that Federal Reserve rates will be raised later in 2026. This has led to a rise in concerns about client spending. Accenture's poor demand forecast and AI disruption concerns also weighed heavily on the sector.
In June, ten of the 16 major sectors showed growth. The broad small-caps and the?midcaps both rose by 4% and 0.1% respectively.
Metals declined 6.9%, as fears about Mideast supplies eased.
IndiGo, among stocks, rose 21.9% in this month's trading, helped by a drop in fuel prices.
Eicher Motors?fell by 4.8% on Monday after brokerages pointed out that Royal Enfield could be a loser under Delhi's new policy for electric vehicles.
(source: Reuters)