Good evening, let’s start with today’s top stories:
Ottawa works to prevent further firefighting casualties after helicopter pilot dies
A helicopter pilot has been killed in a crash in northwestern Alberta last night, the third death in recent days involving wildfire-fighting efforts in Canada. RCMP said he was a 41-year-old from Whitecourt, Alta., but did not release his name.
Last week, firefighter Devyn Gale died after a tree fell on her near Revelstoke, B.C. Adam Yeadon died Saturday while fighting a wildfire near his home in Fort Liard, NWT.
Earlier in the day, Environment Minister Steven Guilbeault said the federal government is doing everything it can to prevent further tragedy.
Wildfire maps 2023: Tracking fires and air quality across Canada
Opinion: Where there’s smoke, there’s health risks for vulnerable groups - André Picard
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Bernardo to stay in medium-security prison after controversial transfer
The commissioner of Correctional Service Canada says a review of the controversial decision to transfer serial killer Paul Bernardo out of the maximum-security Millhaven Institution has found the move was “sound” and followed all applicable laws and policies.
The review shows Bernardo’s security classification was reviewed 14 times between 1999 and 2022, and each time he met the criteria to be moved under medium security. But these results had previously been “overridden” because his high-profile status placed him at a greater safety risk.
He is serving an indeterminate life sentence for the kidnapping, assault and murders of 15-year-old Kristen French and 14-year-old Leslie Mahaffy in the early 1990s.
Russian ‘retaliatory’ air attacks in southern Ukraine continue
Russia has pounded Ukraine’s southern cities with drones and missiles for a third consecutive night, keeping Odesa in the Kremlin’s crosshairs after a bitter dispute over the end of a wartime deal that allowed Ukraine to send grain through the key Black Sea port.
The strikes killed at least two people in Odesa, while at least 19 people were injured in Mykolaiv, a city close to the Black Sea, Ukrainian officials said.
Meanwhile, Canada is placing sanctions on more Russians, with a focus on the Wagner Group, whom Ottawa accuses of supporting Moscow’s invasion of Ukraine and mercenary violence in Africa
In photos: Russia bombs Ukraine’s southern cities for third successive night
Tournament opener tonight for Canada in Women’s World Cup
Canada’s Olympic champion soccer team is set to take on Nigeria at 10:30 p.m. EDT in its first match of the 2023 Women’s World Cup. This is the best shot Canada has had to contend for the trophy. Central to the team is captain Christine Sinclair, this country’s best soccer player. And if you miss the game, check back later on GlobeSports.com for the score and highlights.
In photos: Canada prepares to kick off Women’s World Cup match against Nigeria
Explainer: The schedule, Canada’s team, and how to watch
Read more:
- After winning Olympic gold, coach Bev Priestman wants to inspire Canada once again at World Cup
- Who is Kailen Sheridan, Canada’s No. 1 goalkeeper at the Women’s World Cup?
ALSO ON OUR RADAR
Toronto passes Mayor Olivia Chow’s IPV motion: Toronto city council has declared gender-based violence and intimate partner violence an epidemic in the city, while calling on Ontario and the federal government to do the same.
Movement on Toronto-Quebec City passenger rail line: Ottawa has released a short list of private-sector bidders to build a dedicated high-frequency passenger rail line between Quebec City and Toronto, which federal Transport Minister Omar Alghabra said could include high-speed service.
New plants for Magna: Canadian auto parts maker Magna International is invesing US$790-million to build three supplier facilities in Tennessee that will make components for Ford’s electric vehicles.
RIP Kevin Mitnick: The pioneering hacker, who tricked employees in the 1980s and 1990s into helping him steal software and services from big phone and tech companies before becoming a security guru, has died at age 59 after a battle with pancreatic cancer.
MARKET WATCH
Wall Street stocks were mixed, with the S&P 500 and Nasdaq weighed down by drops in Tesla and Netflix following their quarterly results, and the Dow buoyed by gains in Johnson & Johnson following a strong annual forecast. Canada’s main index ended lower, with a jump in bond yields swaying investors away from the tech sector.
The Dow Jones Industrial Average rose 163.97 points or 0.47 per cent to 35,225.18, the S&P 500 lost 30.85 points or 0.68 per cent to end at 4,534.87, and the Nasdaq Composite dropped 294.71 points or 2.05 per cent to 14,063.31.
The S&P/TSX composite index ended down 54.3 points or 0.26 per cent at 20,436.87. The loonie traded at 75.90 U.S. cents.
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TALKING POINTS
Manitoba, do the right thing. Search the landfills
“Toronto Police Service spent months searching one of the city’s main garbage sites for the body of Nathaniel Brettell – and they found him in August, 2021. If Toronto can do it, so can Winnipeg.” - Tanya Talaga
The Bank of Canada has not won its inflation battle yet
“The traumatic run-up of inflation for four-decade highs has shaken inflation expectations; that has unquestionably reduced the bank’s tolerance for continued above-target inflation as a result.” - David Parkinson
Christopher Nolan’s masterful Oppenheimer is the perfect movie for the end of the world
“While his new film ... may look like a familiar biopic that has simply been scaled up to Nolan-sized heights, it is deeper, richer and more devastating than anything that the director has ever made.” - Barry Hertz
LIVING BETTER
The latest must-have travel accessory is a prepaid card you can use when outside the country without racking up foreign currency conversion fees. Most credit cards charge a 2.5-per-cent fee on top of the usual cost of converting foreign currency to Canadian dollars. Personal finance columnist Rob Carrick breaks down the pros and cons of prepaid alternatives.
TODAY’S LONG READ
A pumpjack clouded in smoke from recent wildfires in Drayton Valley, Alta., on May 17, 2023.JASON FRANSON/The Canadian Press
Soaring price of Canadian crude is giving investors a climate-change gut check
A stellar run in the price of heavy Canadian crude, much of which comes from the oil sands, is testing investor commitments to environmental, social and governance (ESG) principles, forcing would-be buyers to weigh sublime cash flows against human-induced climate change that has contributed to Canada’s worst wildfire season on record.
In global oil markets, Canada is best known for its abundance of heavy crude, and its most commonly quoted price is a benchmark blend known as Western Canadian Select (WCS). Since the start of the year the price of WCS has jumped 16 per cent. Because WCS has soared, shares of many Canadian energy producers have also jumped – particularly for those that focus on oil-sands production.
For some, the mere thought of owning shares of an oil-sands producer is abhorrent, especially with wildfires burning and southern Europe getting scorched by another heat wave. Rafi Tahmazian, a portfolio manager at Canoe Financial in Calgary, doesn’t see it that way. “Should I feel guilty about doing this? The answer is no.” Read the full story by Tim Kiladze
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