Militaries get involved as tensions between Canada and China escalate; Transat AT Inc. approves Air Canada take over
Two Chinese fighter jets fly by Canadian warship
As if tensions between Canada and China weren’t high enough, now the nations’ militaries are getting involved. Two Chinese fighter jets reportedly flew 300 meters within a Canadian warship. A journalist and fellow with the Canadian Global Affairs Institute was on the boat and reported it happened earlier this week on international waters by Shanghai. The two countries have had diplomatic tensions since the arrest of a high ranking Huawei executive in Vancouver last December.
Air Canada buys Transat AT for over $500 million
The takeover of Transat AT Inc. by Air Canada has been approved. The deal is worth just over $500 million. Officials with Air Canada said the company still plans on keeping Transat’s brands and head office in Montreal. The deal still needs to be approved by Air Canada shareholders. The two companies have been involved in exclusive negotiations for over a month.
Price at pumps increasing across country this weekend
Gas prices are expected to go up three cents this weekend across Canada and should stay there for a while. It isn’t due to the Canada Day long weekend though. According to an official with GasBuddy, the rise is due to a fire at an oil refinery in Philadelphia. He said it is a net rise, so locally drivers should just add three cents to what the gas is Thursday and expect that for the weekend.