Iran tightens grip on Strait of Hormuz, Anthropic’s AI model and the global drone race: Business and investing stories for the week of April 18

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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.

Iran reimposes restrictions on Strait of Hormuz, U.S. continues blockade

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One day after Iranian Foreign Minister Abbas Araghchi said the Strait of Hormuz was open, Iran reversed the initial move to reopen the waterway.

The reimposed restrictions are in response to a U.S. blockade on Iranian shipping and ports. Iran has prevented vessels from crossing throughout the seven-week-long war, except for ones it authorizes. U.S. President Donald Trump had said Friday that he was in favour of opening the strait, before later saying the American blockade “will remain in full force” regardless of what Iran does until a deal is reached.

Even as the U.S.-Iran ceasefire appeared to hold, the back-and-forth over the strait — through which roughly one-fifth of the world’s oil typically passes — highlighted how easily it could unravel.

All four Rogers siblings challenge executor compensation, including to Larry Tanenbaum, in mother’s estate

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All four of Loretta Rogers’s children have challenged the $11-million in compensation being claimed by the trustees of her $250-million estate, legal documents show, adding to the dispute over the administration of the telecom matriarch’s assets.

In Ms. Rogers’s will, the trustees – Lawrence Tanenbaum, Mary Filippelli and Jim Reid – are authorized to take anticipated compensation at “reasonable” intervals, allowed to charge professional fees and an hourly rate for services rendered. They’re also protected from any legal fees should they be sued in executing the estate, including by any member of the Rogers family.

While the $11-million in claimed compensation falls below the standard guideline of a 5-per-cent fee on managed assets, Ms. Rogers’s son Edward formally lodged an objection in March, arguing that the total compensation was “neither fair nor reasonable.” He noted the compensation being sought represented a rate of nearly $4,000 an hour.

Canada is behind in the global drone race. But not for long

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Without a war on the country’s doorstep to incentivize innovation, Canada’s Armed Forces have been left lacking some of the critical technologies needed to fight on the modern battlefield. But Volatus Aerospace Corp. and other Canadian drone innovators are vying to meet the moment in the sky, on land and in the water.

Building for Canada

The federal government has identified

uncrewed and autonomous systems as one of 10 sovereign capabilities it wants to build at home. These companies, all headquartered in Canada, are already building their uncrewed vehicles at home and abroad, ready to meet domestic demand.

Propeller

2.1 m

3.2 m

SENTINEL REKAM 3.2

ReKam is a fixed-wing uncrewed aerial vehicle designed for multiple use cases. It’s payload agnostic, meaning it can be used for anything from intelligence, surveillance and reconnaissance to electronic warfare to counterdrone missions, depending on how it’s configured. The platform can be launched in various ways and has a range of 500 kilometres.

Fin

actuators

Depressor

wing: 1.2 m

KRAKEN KATFISH

0.3 m

2.9 m

INKAS HEEMAR UGV

INKAS’ Heemar uncrewed ground vehicle is designed to evacuate wounded personnel, carry cargo and lay landmines, though this latter use requires a separate attachment. It’s remotely operated, with a range of 45 kilometres and a top speed of 16 km/h. As a transport platform, it can carry up to 350 kilograms and as a landmine layer, it can carry up to 16 mines.

1.06 m

1.75 m

1.33 m

the globe and mail, Source: SENTINEL RESEARCH AND DEVELOPMENT;

KRAKEN ROBOTICS; INKAS AEROSPACE & DEFENSE

Building for Canada

The federal government has identified

uncrewed and autonomous systems as one of 10 sovereign capabilities it wants to build at home. These companies, all headquartered in Canada, are already building their uncrewed vehicles at home and abroad, ready to meet domestic demand.

Propeller

2.1 m

3.2 m

SENTINEL REKAM 3.2

ReKam is a fixed-wing uncrewed aerial vehicle designed for multiple use cases. It’s payload agnostic, meaning it can be used for anything from intelligence, surveillance and reconnaissance to electronic warfare to counterdrone missions, depending on how it’s configured. The platform can be launched in various ways and has a range of 500 kilometres.

Fin

actuators

Depressor

wing: 1.2 m

KRAKEN KATFISH

0.3 m

2.9 m

INKAS HEEMAR UGV

INKAS’ Heemar uncrewed ground vehicle is designed to evacuate wounded personnel, carry cargo and lay landmines, though this latter use requires a separate attachment. It’s remotely operated, with a range of 45 kilometres and a top speed of 16 km/h. As a transport platform, it can carry up to 350 kilograms and as a landmine layer, it can carry up to 16 mines.

1.06 m

1.75 m

1.33 m

the globe and mail, Source: SENTINEL RESEARCH AND DEVELOPMENT;

KRAKEN ROBOTICS; INKAS AEROSPACE & DEFENSE

Building for Canada

The federal government has identified

uncrewed and autonomous systems as

one of 10 sovereign capabilities it wants to build at home. These companies, all headquartered in Canada, are already building their uncrewed vehicles at home and abroad, ready to meet domestic demand.

Propeller

2.1 m

3.2 m

SENTINEL REKAM 3.2

ReKam is a fixed-wing uncrewed aerial vehicle designed for multiple use cases. It’s payload agnostic, meaning it can be used for anything from intelligence, surveillance and reconnaissance to electronic warfare to counterdrone missions, depending on how it’s configured. The platform can be launched in various ways and has a range of 500 kilometres.

Fin

actuators

Depressor

wing: 1.2 m

0.3 m

KRAKEN KATFISH

2.9 m

INKAS HEEMAR UGV

INKAS’ Heemar uncrewed ground vehicle is designed to evacuate wounded personnel, carry cargo and lay landmines, though this latter use requires a separate attachment. It’s remotely operated, with a range of 45 kilometres and a top speed of 16 km/h. As a transport platform, it can carry up to 350 kilograms and as a landmine layer, it can carry up to 16 mines.

1.06 m

1.75 m

1.33 m

the globe and mail, Source: SENTINEL RESEARCH AND DEVELOPMENT;

KRAKEN ROBOTICS; INKAS AEROSPACE & DEFENSE

Prime Minister Mark Carney intends to spend big on defence, aiming to allocate five per cent of the country’s gross domestic product toward the sector by 2035. And according to Ottawa’s new Defence Industrial Strategy, uncrewed and autonomous systems are one of 10 key sectors sure to benefit. This, plus Canadian Army Commander Lieutenant-General Michael Wright repeatedly saying he wants to “flood” the army with drones as it undergoes a massive modernization effort, is sparking a gold rush mentality within Canadian industry.

Glen Lynch, chief executive officer of Volatus, put it plainly: “Everybody knows drones are the new warfare. Rifles used to be the first line of resistance. They’re now the last line.”

Anthropic’s AI model sparks rush from industry, government to batten down defence hatches

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Have you used Claude AI? Well, you might not be able to use the new version of it any time soon. Anthropic announced last week it had decided not to release its powerful new model, Claude Mythos AI, to the public because of its potential for abuse by hackers.

Organizations are rushing to identify and address vulnerabilities in their systems before threat actors are able to easily exploit them using Mythos. The AI has already found thousands of vulnerabilities, including in “every major operating system and web browser,” according to Anthropic.

Canada’s AI Minister, Evan Solomon, met with Anthropic officials on Tuesday. Anthropic has made a preview version of Mythos available for American companies like Apple and Amazon to help bolster their critical digital infrastructure’s defence, but it’s unclear whether any Canadian organizations have been given the opportunity to test the model.

Experts warn against cancelling trips early as dwindling jet fuel supply upends travel plans

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If you’re travelling to Europe or Asia in the coming weeks, you may face flight disruptions and cancellations due to dwindling global jet-fuel supply. But travel and aviation experts warn against passengers cancelling flights prematurely.

Airlines still carry a contractual obligation to get passengers to their destinations. “Booking obligations don’t go away, they don’t disappear,” Gabor Lukacs, president of advocacy group Air Passenger Rights, told the Globe’s Mariya Postelnyak. “Even if there’s an act of war.”

If an airline cancels a passenger’s flight because of fuel shortages, the carrier must still offer the choice to either a refund or rebooking on the next available flight, including with a competitor.

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