Rogers offers buyouts, BoC keeps interest rate on hold and Canada’s new sovereign wealth fund: Business and investing stories for the week of May 2

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Getting 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.

Carney announces creation of new sovereign wealth fund to finance major projects

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On Monday, Prime Minister Mark Carney announced that Ottawa would establish the country’s first national sovereign wealth fund. The Canada Strong Fund, which begins with an initial budget of $25-billion funded through public debt, will focus on investing in companies and infrastructure projects that are part of the government’s major projects agenda. Finance Minister François-Philippe Champagne also said the fund could invest in other projects that have already received federal support.

This week’s spring economic update offered few additional details about practicalities, but it did say the government will look to grow the pool of capital by allowing Canadians to invest in the fund and by tapping existing federal assets, including airports, as a source of funds.

The Prime Minister said that the plan draws inspiration from Norway’s fund, which at US$1.7-trillion in assets is the largest in the world and focuses on international investments.

Rogers Communications offering buyouts to half its work force

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Earlier this week, Rogers Communications said it will offer voluntary departure packages to half its employees, excluding Maple Leaf Sports & Entertainment. The Toronto-based company, which had 25,000 employees at the end of 2025, did not say if it has a target for the number of people it wants to cut. Last week, Rogers said it planned to reduce its 2026 capital expenditures by up to $1.2-billion, or 30 per cent.

Telecom revenue growth has slowed across the industry and companies are looking to shed costs, Irene Galea reports. Rogers, as well as its rivals, BCE Inc.’s Bell Canada and Telus Corp., have been cutting jobs and offering buyouts to hundreds of employees in recent years, as cellphone plan pricing has declined and population growth has stalled.

Canada chosen as host country of multinational defence bank

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Canada has been selected as the host nation of a new multinational defence bank, Pippa Norman reports. The federal government confirmed the decision in a statement, saying it was “unanimously supported” by countries participating in the negotiations.

The decision was made after the final of three rounds of negotiations hosted by Canada in Montreal and involving the 19 founding countries of the Defence, Security and Resilience Bank. The other 18 founding countries have not been disclosed, though reports of some European countries such as Britain and Germany rejecting the bank have surfaced since it was first announced.

Once established, the bank could include as many as 40 countries, all NATO members and their allies, and will provide long-term, low-cost financing for defence projects undertaken by participating nations.

BoC holds rate at 2.25%, but warns of energy and trade risks

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The Bank of Canada held its policy rate at 2.25 per cent for the fourth consecutive time Wednesday, but warned that may change in the near future.

Governor Tiff Macklem said the current interest rate level “looks appropriate,” but warned ”there may be a need for consecutive increases in the policy rate” if oil prices remain elevated for an extended period of time, Mark Rendell reports. Mr. Macklem also pointed to the uncertainty surrounding the review of the United States-Mexico-Canada trade agreement, which is scheduled for July 1. Interest rate swap markets are pricing between two and three quarter-point rate hikes by the central bank this year, starting in October, according to Bloomberg data.

The U.S. Federal Reserve also remained on hold on Wednesday, citing uncertainty about the impact of oil prices and tariffs on U.S. inflation.

From banks to car dealers, how companies use NDAs to keep unhappy customers quiet

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Companies in virtually every industry – banks, retailers, hotels, car dealers and more – are routinely using non-disclosure agreements (NDAs) when settling consumer complaints, whether the dispute involves someone’s lifetime savings or trivial amounts. These businesses are reaching for sweeping clauses to protect themselves from bad media coverage, negative social media posts and unflattering reviews, critics say.

Kathleen Zimmerman from Brentwood Bay, B.C., for example, was asked to sign an NDA over a little more than $400 after her then-investment firm misplaced a charitable donation on her behalf.

Erica Alini and Mariya Postelnyak spoke to Canadians who’ve been asked to sign NDAs over complaints in which the stakes range from a few hundred dollars to hundreds of thousands. Here are some of their stories.

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