Here are five things you need to know this morning
Carney and Trump to meet at G7: The eyes of the world have turned to Kananaskis, Alberta, as the G7 meeting gets underway. Prime Minister Mark Carney will meet with U.S. President Donald Trump at the summit this morning. The meeting comes weeks into regular calls and text messages between Carney and Trump as they try to resolve an economic spat caused by Trump’s various tariffs. Carney is also leading discussions today on safety issues and artificial intelligence, while meeting with leaders from places including Japan, France and Italy. Over the weekend, Carney met with British Prime Minister Keir Starmer, with the two agreeing to establish a new working group to deepen trade ties. BNN Bloomberg will have extensive coverage of the G7 meeting, including live hits with reporters from Bloomberg News and CTV News.
Airbus kicks off Paris Air Show: Airbus has kicked off the first day of the big Paris Air Show with two orders from Saudi Arabian customers valued at as much as US$17 billion. The deals give the European planemaker an early lead over Boeing, which scaled back its activity at the event following a recent crash involving one of its jets. As Bloomberg News reports, even before the disaster set back Boeing’s plans, Airbus was set to have a strong showing in Paris. A number of Boeing deals were announced during Trump’s tour through the Middle East last month, leaving Airbus on the sidelines as the U.S. president played the role of head salesman for his U.S. rival.
U.S. Steel deal gets go-ahead: Shares of U.S. Steel traded higher in the premarket after Trump approved its controversial merger with Japan’s Nippon Steel. Trump issued an executive order on Friday that allowed U.S. Steel and Nippon to finalize their merger so long as they signed a national security agreement with the U.S. government. U.S. Steel says the national security agreement includes a golden share for the U.S. government, without specifying what powers the government would wield with its share. Trump says that the golden share gives the U.S. president “total control.”
Renault CEO trying on some Gucci: Kering SA shares surged as the owner of the struggling Gucci fashion label prepared to name the chief executive officer of Renault SA as its next CEO in a bid for a turnaround. Luca de Meo will be appointed to the job in the coming days, people familiar with the situation told Bloomberg News. Renault shares slumped as it wasn’t immediately clear who will succeed De Meo, who is credited for bringing the company back from tough times.
WestJet cybersecurity incident: WestJet continues to manage an ongoing cybersecurity incident that started interrupting access to some of its systems on Friday. The Calgary-based airline says its mobile app was affected with several users having difficulty accessing the platform. The airline says employees and guests should take caution when entering personal information. WestJet says its operations remain safe and unaffected.
