Summary
Canada and Turkey have solidified their partnership through a newly signed three-year action plan aimed at enhancing cooperation in trade, investment, defense, and energy. This agreement marks the first bilateral trip to Turkey by a Canadian prime minister, Mark Carney, and sets the groundwork for discussions on a comprehensive free trade deal starting next month. The collaboration is seen as a strategic move for Canada as it seeks to diversify its trade relationships beyond the United States, with Turkey offering potential in defense and energy sectors.
In the financial sector, concerns arise over the use of AI agents by banks, with RBC's head of AI stating that the bank will restrict access to these agents until adequate safeguards are established. Reports indicate that AI agents have caused security issues at major U.S. banks, prompting some institutions to limit their functionality. The uncertainty surrounding the legal implications of rogue AI spending raises questions about accountability in the event of unauthorized transactions.
Additionally, Industry Minister Melanie Jolie has issued a two-week ultimatum to Cleveland Cliffs to reverse its layoffs of Hamilton steelworkers, citing a legal obligation made during its acquisition of Stelco. Meanwhile, Canadian diplomats in the U.S. are instructed to avoid involvement in the upcoming midterm elections to prevent any perceived interference. In cybersecurity, 1Password has introduced a new tool allowing AI agents to log into accounts without accessing user credentials, addressing some security concerns while reporting significant revenue growth.
Show Notes
Canada and Turkey get serious about trade and defence during Mark Carney’s historic visit to Ankara.
Plus, major banks move to restrict AI agents from accessing customer accounts over rogue spending concerns.
And in the big picture, Ottawa demands Cleveland-Cliffs reverse Stelco layoffs, Canadian diplomats get midterm rules, and 1Password hits $500M ARR.
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