Carney unveils $18B Canadian investment fund

Canada’s prime minister says the country is developing a government-owned investment fund. The fund will invest in major Canadian industrial projects in areas like energy, infrastructure, mining, agriculture and technology.

It will start at $18 billion. Prime Minister Mark Carney said Monday that the federal government will provide funds alongside private investors. The money will help fund projects that Carney’s government is focused on building as Canada seeks to diversify away from the United States. Carney is a former two-time central banker in England and Canada as well as the ex-chair of Bloomberg’s board of directors.

Supreme Court grapples with Roundup lawsuits

The Supreme Court seems divided over whether to block thousands of lawsuits alleging the maker of the weedkiller Roundup failed to warn people it could cause cancer. The case came before the justices Monday after a tidal wave of litigation that included some multibillion-dollar verdicts against the global agrochemical manufacturer Bayer, which owns Roundup maker Monsanto.

Several justices seemed sympathetic to the company’s argument that it can’t be sued under state law because federal regulators have found Roundup likely doesn’t cause cancer. Others, though, grilled attorneys about whether that wrongly stops states from responding to new research pointing to possible links.

United Airlines CEO tried to pitch American merger

United Airlines CEO Scott Kirby on Monday outlined why he thinks a merger between his airline and rival American would benefit travelers, despite American’s refusal to engage in negotiations.

The stocks of both airlines soared two weeks ago when reports surfaced that Kirby had floated the idea of combining two of the biggest U.S. airlines to the White House. Kirby said Monday that he had approached American directly about a tie-up, but it’s unclear whether that was before or after the White House meeting. Days after the meeting in Washington, American shot down the idea of a merger.

Two companies paid to drop US wind leases

The Trump administration has announced two more payouts for energy companies to walk away from U.S. offshore wind projects under development. Bluepoint Wind and Golden State Wind have agreed to end their offshore wind leases in exchange for reimbursements totaling nearly $900 million.

Bluepoint Wind is an offshore wind project in early stages of development off the coasts of New Jersey and New York, while Golden State Wind is a floating offshore wind project proposed off California’s central coast. The Interior Department said Monday it’s following the model of its recent deal with the French energy company TotalEnergies, which is getting a $1 billion payout to walk away from projects off the coasts of North Carolina and New York.

Congo creates its own paramilitary mining guard

Congo has announced the creation of a paramilitary guard to secure its mining operations, backed by U.S. and Emirati investments. It aims to boost investor confidence and strengthen oversight of mineral production.

The new unit is expected to have 2,500 to 3,000 personnel operational by December, with plans to expand to over 20,000 by 2028. Congo is a major supplier of coltan, essential for electronics. The country struggles with illicit mineral trafficking and insecurity, especially in the east. This initiative is part of U.S. efforts to reduce China’s dominance over critical mineral supply chains.