News of the day: Global imbalances, hydrogen pivot, Canadians flying south, AI strategy tax mistakes, Ontario quantum startup and more

News of the day: Global imbalances, hydrogen pivot, Canadians flying south, AI strategy tax mistakes, Ontario quantum startup and more

It’s Tuesday, June 23. Here are the top stories we’re following today.

Canada could be ‘sideswiped’ if global imbalances continue to widen, Bank of Canada’s Tiff Macklem warns

In a speech to the Chambre de commerce France-Canada in Paris, Bank of Canada governor Tiff Macklem said that imbalances were growing at a time when the financial system was also evolving and becoming faster and less regulated.

Ballard buys U.K.-based hydrogen producer for $515 million in strategic pivot

The lack of access to hydrogen has been a key hurdle to Ballard Power Systems Inc. selling its hydrogen fuel cells, which are like engines that produce electricity from hydrogen and oxygen. By combining with GeoPura Ltd., Ballard hopes customers will buy its hydrogen fuel cells and its hydrogen fuel.

Canadian trips to the U.S. climb for the first time in Trump’s second term

In April, Canadian residents took 2.4 million trips to the United States, a 1.8 per cent increase from the same month a year earlier, according to Statistics Canada’s monthly data on travel between Canada and other countries.

Canada’s AI strategy compounds the taxation mistakes the federal government is already making

Glaringly missing from the federal artificial intelligence strategy is how the founders, engineers and investors who will build Canada’s AI future will be encouraged to take the necessary steps and risks, writes Kim Moody.

Ontario startup aims to solve what may be the biggest threat to globally secure communication

Many fear quantum computers will be able to decrypt today’s encrypted data within the next decade or less, but Maple, Ont.-based QEYnet wants to use the laws of quantum physics to turn the table.

Matthew Lau: Why are food prices so high? Ottawa, investigate thyself

Joe Oliver: Active management costs Canadian pensioners big time