Alphabet’s Canadian bond deal, Honda suspends Ontario EV project and a summer of travel chaos: Must-read business and investing stories
Honda Canada has indefinitely suspended its $15-billion electric vehicle project in Ontario, citing shifting market conditions and customer demand. Alphabet completed the largest corporate bond offering in Canadian history, raising $8.5 billion through a record-breaking maple bond. Meanwhile, four Canadian cities are competing to host the new Defence, Security and Resilience Bank, which is expected to create around 3,500 jobs.
- ▪Honda Canada suspended its $15-billion EV project in Ontario due to evolving business conditions and changing customer demand.
- ▪Alphabet raised $8.5 billion in a four-part bond deal, marking the largest corporate bond offering and maple bond in Canadian history.
- ▪Ottawa, Montreal, Vancouver, and Toronto are competing to host the new Defence, Security and Resilience Bank, which will provide financing for defence projects and bring approximately 3,500 jobs.
- ▪New data shows a 75% year-over-year increase in zero-emission vehicle sales in Canada in March, reaching about 21,500 units.
- ▪Real estate developer Jesta plans to purchase $500 million worth of unsold Toronto condo units as part of its expansion strategy.
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Open this photo in gallery:Honda employees work along the vehicle assembly line in Alliston, Ont., in 2024.Nathan Denette/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountGetting caught up on a week that got away? Here’s your weekly digest of The Globe’s most essential business and investing stories, with insights and analysis on the biggest headlines, stock tips, personal finance strategies and more.Honda’s suspension of Ontario EV project deals another blow to auto sectorHonda Canada confirmed it has indefinitely suspended plans to build a $15-billion electric-vehicle project in Ontario, Eric Atkins reports.
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