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Holcim has completed the spin-off of its North American business Amrize , which achieved a $30 billion valuation for the building materials supplier in early trading on Monday. Shareholders were given one Amrize share for every share in Holcim in the 100% spin-off of the business, which the Swiss-listed company said aimed to sharpen its focus on the different market dynamics in North America compared with the rest of the world. Amrize shares opened at 46 Swiss francs on the Six Swiss Exchange, giving it a market capitalisation of 24.7 billion Swiss francs ($30.24 billion), in line with the company's expectations for a roughly $30 billion valuation.
Stellantis’ new CEO Antonio Filosa will retain his previous role as head of the key North American market as he broadly confirmed on Monday the French Italian automaker’s senior management team on his first day in the job. Analysts at Jefferies said Filosa’s decision to keep direct responsibility for the North American business, however logical, was also “suggesting that revamping Stellantis may not be a full-time job.” Stellantis shares have fallen 10 per cent since Filosa’s appointment at the end of May, with investors disappointed that an insider was picked following a six-month search to replace Carlos Tavares to revive the carmaker’s profits, the U.S. business and share price.
Republican lawmakers’ proposal to fold the U.S. audit watchdog into the Securities and Exchange Commission hit a roadblock when the Senate parliamentarian determined that including the provision in a broader tax bill violates rules around budget reconciliation. The Senate parliamentarian late Thursday ruled out the Public Company Accounting Oversight Board plan and several other provisions in Senate Banking Chair Tim Scott’s proposed addition to Republicans’ so-called big, beautiful bill, according to Senate Budget Committee ranking member Jeff Merkley’s office. Proposals to place a funding cap on the Consumer Financial Protection Bureau, reduce the pay of Federal Reserve staff and lower funding for the Office of Financial Research are also ineligible to be part of the proposed legislation.
New York intends to build a large nuclear-power facility, the first major new U.S. plant undertaken in more than 15 years and a big test of President Trump’s promise to expedite permitting for such projects. Gov. Kathy Hochul said in an interview that she has directed the state’s public electric utility to add at least 1 gigawatt of new nuclear-power generation to its aging fleet of reactors. A gigawatt is roughly enough to power about a million homes. “I’m going to lean into making sure that every company that wants to come to New York and everyone who wants to live here will never have to worry about reliability and affordability when it comes to their utility costs,” she said.
America’s new approach to enforcing a decades-old law outlawing foreign bribery means fresh risk for Canadian multinationals, particularly those competing directly against U.S. rivals overseas, anti-corruption experts say. U.S. President Donald Trump signed an executive order earlier this year temporarily suspending all investigations and enforcement actions under the Foreign Corrupt Practices Act (FCPA) while top leaders at the Department of Justice reviewed the policies under the law. Mr. Trump called the act “an absolute horror show” that made it very difficult for U.S. companies to strike deals. In the weeks that followed, the department closed two investigations into Canadian plane maker Bombardier Inc. It also dropped a probe of U.S. medical device maker Stryker, among others. In all, nearly half of all foreign-bribery investigations were wound up.
Prime Minister Mark Carney has asked Kirsten Hillman to stay on as Canada’s ambassador to Washington and take on the role of chief negotiator in tense trade and security talks with the Trump administration. Many Liberals and observers had expected after the election that the Prime Minister would replace Ms. Hillman, who has served in the Washington embassy since 2017, including six years as ambassador. But the Prime Minister’s Office confirmed Sunday that Mr. Carney has not only asked Ms. Hillman to remain as Washington envoy but to become Canada’s top trade interlocutor with President Donald Trump’s administration.
Canada’s top executives got a nearly 20-per-cent raise last year as stock prices soared and corporate boards increasingly opted to pay their senior leaders with shares over options. An annual review of CEO pay at Canada’s 100 largest public companies, done in partnership with consulting firm Global Governance Advisors, found median total salary, bonus, stock awards and other compensation reached $10,303,190 in 2024, up 19.6 per cent from 2023. That marks the first time a typical Canadian CEO of a large company earned more than $10-million in one year. Strong market performance was the primary driver of the increase, with the S&P/TSX Composite Index also rising roughly 20 per cent last year. Chief executives generally beat the performance targets their boards of directors set for them by substantial margins, meaning they were eligible for generous incentive pay in the form of bonuses and share-based awards.
Le plus important actionnaire de Coveo a révélé dans les derniers jours avoir liquidé sa participation dans l’entreprise de Québec spécialisée dans l’intelligence artificielle appliquée au commerce électronique. Elliott Investment Management a indiqué le 10 juin aux autorités boursières avoir vendu en mai le reste de ses actions de Coveo. Cette firme d’investissement de West Palm Beach, en Floride, détenait 17,9 millions d’actions à droit de vote subalterne. C’était l’équivalent de 33 % de cette catégorie d’actions et de 18 % de toutes les actions en circulation de Coveo. La sortie d’Elliott, qui était actionnaire de Coveo avant le premier appel public à l’épargne de l’entreprise, enlève un poids qui pesait sur Coveo, selon l’analyste David Kwan, de la TD. Il croit qu’avec la croissance organique qui reprend de la vigueur, l’écart d’évaluation du titre de Coveo avec ses pairs devrait maintenant se réduire.
À la lumière des révélations de la commission Gallant, le gouvernement du Québec aurait des motifs de poursuivre le conseil d’administration de la Société de l’assurance automobile du Québec (SAAQ), estime un expert en gouvernance.
Sans s’avancer sur l’opportunité d’une poursuite du gouvernement, Alexandra Langelier, vice-présidente de l’IGOPP, juge que « les rôles du C.A. sont mal compris ». Parmi ses recommandations, le commissaire Denis Gallant pourrait assurément suggérer d’« assurer cette compétence des administrateurs », croit l’experte, « parce qu’en fin de compte, c’est eux, les chiens de garde ».
Satellos Bioscience Inc., a biotech company developing new small molecule therapeutic approaches to improve the treatment of muscle diseases and disorders, today announced the election of Iris Loew-Friedrich, M.D., Ph.D., and Selwyn Ho, MBBS, to its Board of Directors. “I am so excited to welcome Dr. Loew-Friedrich and Dr. Ho to our Board at this pivotal time,” said Frank Gleeson, Satellos co-founder and CEO. “We believe their deep expertise in global clinical and commercial development will be invaluable to Satellos as we advance SAT-3247 and realize our technology’s transformative potential for the treatment of people living with Duchenne muscular dystrophy and other degenerative conditions.
Now that the US proxy season has drawn to a close, it has revealed a mixed picture on investor support for ESG-related proposals. The US proxy season has seen very little support from shareholders for anti-DEl and anti-ESG proposals, despite the political climate set by the White House. A report from Teneo, a consulting firm, shows that anti-DEl and anti-ESG support fell from an average of 1.9% of shareholders to 1.4%. Only one proposal received more than 3% of the vote, after examination of AGM outcomes between January and May this year. However, research also shows that there has been "diminishing" support for environmental and social proposals.
The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said. The programme, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies. The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilise a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, EU officials said.
Norway aims to impose a temporary ban on the establishment of new data centers that mine cryptocurrency with the most power-intensive technology, in order to conserve electricity for other industries, the Nordic country’s government said on Friday. “The Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,” Minister for Digitalization and Public Administration Karianne Tung said in a statement. “Cryptocurrency mining is very power-intensive and generates little in the way of jobs and income for the local community,” she added. A temporary ban could be introduced during the autumn of 2025, the government said.
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Hormel Foods said on Monday former CEO Jeffrey Ettinger will return to helm the Skippy peanut butter maker on an interim basis for 15 months starting July 14. Ettinger, 66, served as chief executive from 2005 to 2016 and will replace current Hormel CEO and president James Snee, 57, who announced his retirement in January. The management transition comes after the company last month tightened its annual profit forecast towards the lower end as it struggles with supply chain issues and weak demand. Snee will serve as a special advisor to the company until Oct. 26 this year, and Hormel expects him to stay on as a consultant for another 18 months after that, the company said in a regulatory filing.
A new social-media platform built by Canadians, for Canadians, and operated in Canada, will publicly launch in October with support from some of the most prominent names in the Canadian innovation sector. Titled Gander Social Inc., the app was created by five Canadian co-founders who grew frustrated with the torrent of trolls, disinformation and divisive content they experienced on other platforms, largely owned by American tech giants. When Donald Trump was elected president for a second term, co-founder and CEO Ben Waldman said this frustration morphed into fear, as conversations around data sovereignty – ensuring Canadian control over access, usage and storage – became more pervasive.
News Corp’s board extended CEO Robert Thomson’s contract through June 2030, keeping him at the helm of the media company during a period in which artificial intelligence’s rapid development is reshaping the industry. Thomson, 64 years old, has been chief executive of News Corp since 2013. His prior contract, signed in 2023, ran through June 2027. Under Thomson, News Corp has made Wall Street Journal parent Dow Jones, digital real-estate services and book publishing the company’s core focus. News Corp owns HarperCollins Publishers, digital real-estate businesses, the New York Post and U.K. and Australian newspapers.
NATO countries agreed on a statement on Sunday for their upcoming summit that sets a goal of 5 per cent of GDP for annual defence and security-related spending by 2035, overcoming objections from Spain, diplomats said. The statement has the green light from all 32 NATO members, diplomats said, but will only become official when it is approved by leaders including U.S. President Donald Trump at their summit in The Hague on Wednesday. Spanish Prime Minister Pedro Sanchez had blocked an earlier version of the text, saying that committing to a 5 per cent target would be unreasonable and counterproductive. Spain spent 1.24 per cent of GDP on defence in 2024, according to NATO estimates
Toy company Spin Master Corp. has named Christina Miller as the company’s new chief executive, effective July 7. Miller, a independent director on Spin Master’s board since May 2020, will succeed Max Rangel in the top job. Rangel was appointed global president of Spin Master in January 2021 and became global president and chief executive in 2021. The company says he will work with Miller over the next three months to ensure a seamless leadership transition for the business. Miller is a former president of WarnerMedia’s kids, young adults and classic division. She was responsible for oversight of content development, production and franchise management for Cartoon Network, Adult Swim, Boomerang and TCM.
This is a ranking of compensation in fiscal 2024 for the chief executive officers from the 100 largest public companies (by market capitalization) in Canada’s benchmark S&P/TSX composite index as of Dec. 31, 2024. Prepared by Global Governance Advisors, the information comes from management information circulars filed for fiscal year 2024. The compensation information is taken from each company’s most recent management information circular. Some companies have a fiscal year that does not end on Dec. 31, 2024; references to “2024” in this methodology include these companies.
Le rendement quasi nul d’Investissement Québec (IQ) l’an dernier n’empêchera pas ses employés et sa haute direction d’avoir droit à des primes. Elles atteindront 11,6 millions – l’un des montants les plus élevés depuis la refonte de la mission du bras financier de l’État québécois. Il s’agit d’un montant moyen de 9608 $ par personne, souligne la société d’État, dans une réponse à une demande de La Presse en vertu de la Loi sur l’accès aux documents des organismes publics et sur la protection des renseignements personnels. Ce montant global des primes (11,6 millions) est moins élevé que les 14 millions versés en 2023-2024, où l’effectif avait gonflé à 1296 personnes, lorsque le rendement s’était établi à 2,6 %.
Investissement Québec (IQ) pourrait enfreindre sa règle d’or et ses primes ne seraient pas menacées. Sa mission a tellement été élargie que le rendement est devenu un critère d’évaluation parmi tant d’autres. Des spécialistes en gouvernance estiment qu’un rééquilibrage est nécessaire. Mais, pour le gouvernement Legault, tout est beau. Que fait ce bras investisseur gouvernemental ? Investissement Québec offre des solutions de financement (prêts/prises de participation) aux entreprises en plus de gérer les programmes d’aide de Québec. C’est une société d’État. Il y a donc un objectif de rendement dans sa loi. Mais depuis son arrivée au pouvoir, le gouvernement Legault a considérablement élargi le rôle d’IQ à compter de 2019.
The U.S. government's ownership of a golden share in U.S. Steel will not block Nippon Steel from taking any management action that it deems appropriate, the Japanese steelmaker's CEO said on Thursday. Eiji Hashimoto spoke at a press conference in Tokyo a day after Japan's top steelmaker closed its $14.9 billion acquisition of U.S. Steel, confirming Nippon Steel had agreed to give the U.S. government unusual power to help end its 18-month battle to reach a deal. The national security agreement inked with U.S. President Donald Trump's administration hands Washington a non-economic golden share and gives the president the authority to name a board member.
Nido Living, backed by CPP Investments, has agreed to acquire Brookfield Asset Management’s Iberian student housing platform, Livensa Living, in a €1.2bn deal that marks one of the largest private equity transactions in Europe’s purpose-built student accommodation (PBSA) sector this year. The acquisition significantly scales Nido’s European presence, bringing its total portfolio to over 13,000 beds and supporting its ambition to reach 25,000 beds by 2031. Prior to the deal, Nido held around 3,000 beds across Madrid, Seville, Valencia, Lisbon, and Porto. Livensa, acquired by Brookfield in 2019, includes approximately 9,000 beds across 20 operational properties and two under development in key Spanish and Portuguese university cities. The platform has become a benchmark brand in the Iberian PBSA market.
Governance has always involved navigating uncertainty, but today we face a convergence of disruptive forces unmatched in speed and complexity. Technologies maturing today — AI, quantum computing and biotechnology — will have fundamentally reshaped business models, redefined competitive landscapes and altered the fabric of entire industries. What appears as incremental change in 2025 will reveal itself as the early signals of profound transformation that shaped the enterprise operating model of 2035. Leaders who recognize these weak signals now and begin building the appropriate foundations will position their organizations to win as these technologies mature into their full disruptive potential. Forward-looking boards are already proactively redesigning governance approaches to lay the foundation for the world that is coming.
Stellantis is considering a possible sale of its struggling luxury Maserati unit, among other options, two sources with knowledge of the matter said, as the automaker seeks to overhaul its sprawling portfolio of 14 brands. Discussions over Maserati's future started before new CEO Antonio Filosa, who starts on Monday, was appointed last month, while Stellantis was steered by Chair John Elkann. The viability of the French-Italian company's 14 brands - which include Chrysler, Peugeot, Jeep and Alfa Romeo - was a priority for Elkann as he interviewed candidates to fill the CEO job. Like other European carmakers, the world's fourth biggest automaker is facing hefty U.S. import tariffs imposed by U.S. President Donald Trump and struggling with stiff competition from Chinese rivals.
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