Good morning!Air Canada enters the drone delivery business after striking a deal with Drone Delivery Canada Corp. to market and sell its drone delivery services in the country.
Under the agreement, DDC will build and operate up to 150,000 drone delivery routes in Canada, and Air Canada Cargo will market it as a “premium offering,” the companies said in a statement.“We believe drone technology has the potential to offer the cargo community cost-effective solutions to complex issues related to supply chain distribution in non-traditional markets, including remote communities in Canada,” said Tim Strauss, vice president, cargo, at Air Canada.
Investors — and the Bank of Canada — will be paying close attention to U.S. Federal Reserve Jerome Powell’s speech in Chicago today, as they try to predict the Fed’s next move. Earlier today, the Reserve Bank of Australia cuts its interest rate, suggesting that the world’s major central banks may be leaning towards looser monetary easing policy rather than the tightening that the Bank of Canada seems to favour.Global stocks took a beating in May, shedding almost US$4.