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WHAT YOU NEED TO KNOW
Quebec real estate developer goes public with offer and new vision for Transat
Group Mach Inc. said today that it wants to buy Transat AT Inc for $14 a share after the airline and travel company had been in exclusive talks with Air Canada for a friendly merger (for subscribers).
Transat and Air Canada are more than halfway through the 30-day period of negotiation talks that started on May 16. The per-share offer agreed to was $13, for a $520-million takeover by Canada’s largest airline.
Group Mach’s offer would be subject to conditions, such as financing from the government of Quebec, and includes a 25-per-cent investment from Spanish real estate developer TM Grupo Inmobiliario.
Transat is currently in the middle of building a beach-front resort in Puerto Morelos, Mexico. Group Mach, an office developer, said its Spanish partner would also move its own three hotels in Mexico into Transat’s platform to make the hotel a bigger part of the company.
Also read: The De Havilland brand is taking off again with the re-launch of the Dash 8 aircraft program after purchase from Bombardier Inc.
Trudeau announces billions in foreign-aid for the health and rights of women and children
Prime Minister Justin Trudeau announced today that Canada will increase its support for women and girls’ health over the next decade, including for contraception, legal abortion and sexuality education around the world.
Without specifically calling out U.S. President Donald Trump, Trudeau said there are politicians trying to “drive a wedge” between women’s health and reproductive rights, to “create a division where none should exist.”
“This should not be a political issue. These divisions are playing out globally with devastating consequences and women deserve better,” Trudeau said.
China’s quiet 30th anniversary for Tiananmen Square protests
Crowds of people showed up to Tiananmen Square today, but hardly anyone seemed to be there to commemorate the anniversary of the day soldiers opened fire on unarmed student protesters.
In 1989, the streets were bloodied by bodies of young people across the country protesting the Chinese Communist government. Today, the square is filled with selfie-sticks and tourists. In China, few “even realize this is a day that should be remembered,” said Louisa Lim, author of The People’s Republic of Amnesia: Tiananmen Revisited.
Although many words written about the attacks are kept from Chinese audiences, not everyone has forgotten. Some whispered of the event, and the police blocked journalists from entering the square for a period of time. On China’s WeChat messenger app, others were sending cryptic messages of flowers and poems written backward to avoid censorship.
Meanwhile in Hong Kong, pro-democracy advocates held vigils for the victims of the protests (for subscribers). Hong Kong is the only region under Beijing’s jurisdiction that holds significant public commemorations of the attacks that took place 30 years ago today.
Opinion: “The choice between freedom and prosperity, democracy and order, is a false one. To get rich, China didn’t have to mug Lady Liberty.” – Globe editorial
Trump’s visit to the U.K. is causing a stir in England (and in Mexico)
U.S. President Donald Trump hasn’t finished his Royal trip, but he has pushed a few buttons around the world on the excursion. In a news conference with British Prime Minister Theresa May, Trump was looking to talk trade deals with a Brexit-ed England.
While in the U.K. Trump also announced that, despite a diplomatic push not to raise the levies, he will likely order new tariffs on Mexico. The President stated an “invasion” of migrants as the purpose for the hike (For subscribers).
Thousands of protesters flooded the streets of Central London, flying a giant balloon depicting him as a baby in a diaper. However, Trump brushed aside the baby blimp and insisted that he was welcomed with open arms.
You can see the pageantry, policy and protest scenes in photos here, including a float picturing Trump sitting on a toilet with “impeach me” written on the head of the depiction.
(Photo by Isabel Infantes/AFP/Getty Image)ISABEL INFANTES/AFP/Getty Images
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WHAT ELSE IS ON OUR RADAR
Trudeau accepts the term genocide in MMIWG report, but says focus must be on response: The Prime Minister says that the focus should not revolve around the use of one word but on the action taken to end the issues raised by the inquiry.
Vancouver home sales reach 19-year low: Sales volume last month fell 6.9 per cent compared to the same time in 2018, and slumped 22.9 per cent beneath the 10-year average for May, the Real Estate Board of Greater Vancouver said today (for subscribers).
Kawhi Leonard sues Nike over logo: Leonard is fighting for the rights to a logo he says he created by tracing his own hand, so he can use it on clothing and footwear products as well as sport camps and charity functions.
South Africa’s economy suffers from the worst slump in a decade: In the midst of suffering electricity shortages and mining-industry unrest, South Africa’s economy fell an unexpected 3.2 per cent in the first quarter.
Sudan’s opposition rejected military ruler’s plan to hold elections within nine months: At least 35 pro-democracy protesters were killed yesterday by security forces, and are asking for an international committee to investigate the deaths that are being branded as a “massacre" (for subscribers).
House justice committee votes to expunge words of Christchurch shooter from record after spoken by Tory MP: Michael Cooper has been removed from his role on the justice committee after he quoted the Christchurch gunman’s manifesto in response to Alberta Muslim Affairs Council president Faisal Khan Suri’s comment about online hate speech enabling real-life hate.
MARKET WATCH
Stocks rallied today as U.S. tech shares bounced back from the previous day’s selloff and investors weighed the possibility of a U.S. interest rate cut.
The Dow Jones Industrial Average rose 512.4 points to 25,332.18, the S&P 500 gained 58.82 points to 2,803.27 and the Nasdaq Composite added 194.10 points to 7,527.12.
Canada’s main stock index also rose, paced by gains in marijuana and financial stocks. The Toronto Stock Exchange’s S&P/TSX composite index closed up 150.35 points at 16,166.24.
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TALKING POINTS
The MMIWG report was searing and important, marred only by its inaccurate genocide charge
“The men who killed Indigenous women were not génocidaires set on destroying a group. They were commonplace domestic criminals – murderers and predators who ought not to have been elevated to fit a paradigm.” – Erna Paris
It might become easier for oil sands companies to put more polluted mine tailings into the Athabasca River
“The plan to dump toxic tailings into the river should be scrapped. Canadians have been catering to the oil sands long enough.” - David Schindler and Maude Barlow
Would we care about Ali Wong’s low key Netflix special if it was for Crazy Rich Asians?
“The journey here, over all, is still worth it, full of Asians making jokes, talking dirty and getting it on – like any good rom-com.” - Cliff Lee
LIVING BETTER
The true Canadian summer is not complete without a camping trip. Even if you aren’t an outdoor person, there are ways to make “roughing it” a little less rough. Here are some tips for finding the perfect campsite for your trip this year (for subscribers):
- Take a good look at the online map: Families might want to be within shouting distance of the playground or close to the shower building. Check how far it is to the beach – do you really want to drive down every day?
- Look down: If you’re stuck with a slope, ensure your head is higher than your feet. Pick a spot that’s far enough away from the campfire/cooking area because creatures will come scrounging at night
- Look up: You’ll need weather and wind protection. Healthy trees can help but look out for dead limbs that may come crashing down.
LONG READ FOR A LONG COMMUTE
Sol Mamakwa has an innate ability to capture the attention of the usually raucous Ontario Legislature, because when he speaks people stop and listen.
Even Premier Doug Ford is listening. He agreed to meet with three First Nations chiefs visiting from Northern Ontario, by suggestion of Mamakwa.
He was raised in a small, fly-in First Nation of Kingfisher Lake. The first-term New Democrat is from the Northern Ontario riding of Kiiwetinoong, which is two-thirds Indigenous.
“I’m speaking for marginalized people. Everyday people. That’s part of me, speaking for people that never had a voice here,” Mr. Mamakwa said.
Read here to learn more about Sol Mamakwa and his role in government.
NDP MPP Sol Mamakwa. (Photo by Chris Young for The Globe and Mail)Chris Young/The Globe and Mail
Evening Update is written by Sierra Bein. If you’d like to receive this newsletter by e-mail every weekday evening, go here to sign up. If you have any feedback, send us a note.