‘Buy now, pay later' plans are booming as young people struggle with expenses — and some may be losing control
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
3 hours ago
- Winnipeg Free Press
Ex-fighter jet pilot Stephen Fuhr is on a mission to change how we arm the military
OTTAWA – Not that long ago, former air force fighter pilot Stephen Fuhr was just one among many voices in Canada complaining about the way the federal government makes big defence purchasing decisions. At no point, he said, did it occur to him that he would wind up in his current position – as the prime minister's point person for fixing Canada's sclerotic military procurement system. 'I find it very ironic that I was one of many that complained … why does it take so long?' said Fuhr, 59, in an interview with The Canadian Press. Fuhr knows first hand how the state of Canada's military procurement system feels to people on the ground – how byzantine government rules make vital equipment purchases move at molasses speed, leaving soldiers and pilots without the tools they need to fight a modern conflict. The once-prominent critic of former prime minister Stephen Harper government's management of defence – notably the original F-35 stealth fighter procurement process – is stepping up to change how the system works. Prime Minister Mark Carney named Fuhr secretary of state for defence procurement on May 13, giving him a new, narrowly focused junior role in cabinet. The Carney government's focus on reforming defence procurement is happening as new threats emerge on the world stage – and as Canada and other NATO allies come under heavy pressure from U.S. President Donald Trump to ramp up defence spending by a staggering amount. Canada is also looking for ways to bolster its domestic defence industry and partner more with Europe as it pivots away from a more isolationist and protectionist United States. For the first time in a long time, the military is a core government priority. 'I feel good about it,' Fuhr said. 'Canadians are supportive of us being more involved in defence spending. There's a big opportunity for our industries and businesses in defence and being able to pull our weight on the world stage with our defence relationships.' It's also a moment of uncertainty – for Carney's government, for Canada and the world. Fuhr's background in the air force trained him to prepare for the unexpected. On Sept. 11, 2001, when terrorists hijacked airliners and crashed them into major U.S. buildings, Fuhr was in Inuvik, where he was flying a CF-18 on force-projection exercises. He spent the security crisis patrolling the Arctic skies as events unfolded south of the border, then was sent to CFB Comox on Vancouver Island, where he was kept on alert until Canada relaxed its air defence posture. 'It was pretty surreal,' he said. 'In the moment, we don't know if there's more. We just know these airplanes are coming and they have to land somewhere.' He was in the Royal Canadian Air Force for two decades and at one point was in charge of overseeing all of Canada's CF-18 Hornets. Formerly a conservative-inclined voter, he made the jump into federal politics with the Liberals a decade ago after becoming frustrated with the contentious F-35 purchase. Fuhr warned that the cost of the deal was doomed to explode and that the process had gone awry. He was right: the budget for the F-35 purchase has since ballooned and Ottawa is conducting a review of the project in response to the Trump administration's trade chaos. Still, Fuhr shrugs off the idea that he would chime in with his opinions about the F-35 at the cabinet table. 'My strong opinions are 10 years old, and a lot has changed in 10 years,' the Kelowna MP said. But he could end up helping to decide how the next big-ticket items roll out. Carney made numerous defence commitments in the spring election. One of them was a promise to establish a new defence procurement agency to speed up equipment purchases for the military, and that agency falls under Fuhr's mandate. The party's election platform pledged legislative changes to 'expand risk-based approaches' to purchasing approvals, 'centralize expertise from across government' and 'streamline the way we buy equipment for the military.' Canada's military has suffered from peacetime budget woes under governments of various stripes since the Cold War ended. Major items of military equipment are nearing the end of their usable lifespan and new purchases are moving slowly through a risk-averse and slow-moving bureaucracy. For the past half century, military purchasing decisions tended to involve multiple government departments. Carney's plan for this new agency would create one main point of contact, as in wartime. 'We're trapped outside the technology cycle, which is a really difficult place to be, and we have to get it done faster. It has to be more organized. It has to be easier for industry,' Fuhr said. Canada, in other words, is pushing for a military comeback. Fuhr is fresh off of a comeback of his own. He became a Liberal MP in 2015, when he rallied support from unlikely corners like the local Green Party, whose candidate stepped down to endorse Fuhr. A former chair of the House of Commons defence committee, he's been around the political block. But he was defeated in 2019 by Conservative Tracy Gray. He didn't run in 2021 but returned to the ballot in April, and this time he defeated Gray. This isn't the first time the government has tried to reform procurement. It's also not the first time there's been a cabinet-level position tied to procurement. The Harper government tapped Julian Fantino as associate minister of defence to overhaul procurement, and Justin Trudeau's Liberals promised multiple defence procurement reforms in the 2015 and 2019 elections. Neither government moved the needle much – and both failed to spend enough to address the Canadian Armed Forces equipment gap. Fuhr insisted it's different this time. 'If it was ever going to happen, it's going to happen now,' he said. He said Canada has to make a major 'lift' to meet its alliance defence commitments and Carney 'wants to get it done.' When asked what he brings to the role, Fuhr pointed not to his time in the air but to his work on the ground with the military and his family's aerospace business, SkyTrac Systems, which they eventually sold. 'I know what it's like for industry to try and get involved in defence procurement because I lived that life for a while,' he said. 'I bring a well-rounded skill set, not just I flew airplanes.' Fuhr might be out of the military but he can't stay out of the skies. Monday Mornings The latest local business news and a lookahead to the coming week. Right up until he decided to run for office again, he was testing and certifying pilots on instrument ratings, ensuring they can fly by instruments alone. The retired air force major in his spare time flies a Vans RV8, an kit-built two-seater aircraft he purchased several years ago. The small, low-wing recreational craft is painted to look like a fighter jet – he even has a shark mouth painted on the nose of the plane. He may not have much time to get up in the air this summer. He'll be in and out of meetings with officials drafting up blueprints for the new procurement agency, sorting out its size and scope. This report by The Canadian Press was first published June 6, 2025.
Global News
14 hours ago
- Global News
Carney says Trump's multiple objectives demand ‘nimble' trade talk strategy
Prime Minister Mark Carney says as he continues to negotiate a new security and trade deal with the U.S., he's staying 'nimble,' as he says Canada's southern neighbour has 'multiple' objectives for its talks with various countries, including what could benefit its revenue and budget. 'When the person you're dealing with, the country you're dealing with has multiple objectives, jumps around a bit and you've got to be nimble,' Carney told Global News' Joel Senick in a one-on-one interview at the Calgary Stampede. Carney said from his perspective, U.S. President Donald Trump is juggling several factors, ranging from China to trade to the country's overall finances. 'Some of it's strategic competition with China. Sometimes it's just whether or not they can have a trade balance,' he said. 'Some of it's about revenue, for their budget, and of course it's jobs for workers, (and) also issues around the border.' Story continues below advertisement The prime minister's comments come only a few days after trade talks restarted between the two countries following Trump's brief termination over Canada's digital services tax, which the federal government announced last Sunday it had been rescinded. On Monday, Carney told reporters rescinding the tax was part of a 'bigger negotiation,' though he did not elaborate or say if Canada had received anything in exchange. U.S. Commerce Secretary Howard Lutnick said the tax would have been a 'deal breaker' for any trade deal and that he appreciated the removal by Canada. 5:12 How close is Mark Carney to striking a deal on tariffs with U.S. President Donald Trump? Questioned on the removal of the tax on Saturday, Carney said it also happened at 'basically the same time' as a series of other taxes being taken off the table by other countries as part of a broader G7 plan. Story continues below advertisement He did not specify what taxes, but following the G7 summit in Kananaskis, Alta., Canada's Department of Finance announced the G7 had agreed the U.S. would be exempt from applying a 15 per cent minimum corporate tax rate. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The move appeared to be a counter to U.S. plans to apply a so-called 'revenge' tax on other countries that would impose taxes on companies with foreign owners, as well as investors from countries judged as charging 'unfair foreign taxes' on U.S. companies. Pressed further on how Carney is approaching negotiations with Trump, the prime minister said the 'best thing in a negotiation' is that people know what the other party is trying to achieve. 'We're looking out for the jobs of Canadians not just today, but in the longer term and making it clear to the president, but also Americans that there's tremendous opportunity for us working together,' Carney said. The two countries set a goal at the end of the G7 to reach a deal within 30 days, specifically July 21, a date that remained in place even after the brief disruption earlier this week. 2:13 Canada making progress on lifting interprovincial trade barriers: report But as negotiations continue, it also provides a 'tremendous opportunity' for Canadians to build together — a sentiment Carney has repeated multiple times, including during the federal election campaign. Story continues below advertisement 'Whether it's building conventional energy, pipelines to tidewater, whether it's building SMR (small modular) reactors, building artificial intelligence, life sciences, all these things, we can give ourselves far more than any trading relationship, even a trading relationship with the United States,' he said. Building has been a key element for the federal government, with its major projects bill becoming law last week. Bill C-5, which gives Ottawa the power to fast-track projects intended to boost the national economy by sidestepping environmental protections and other legislation, also includes efforts to reduce federal barriers to internal trade. The goal under the bill is to approve such projects within two years. Trump and Carney's goal of reaching a deal by July 21 is swiftly approaching, and while he spoke about the objectives Trump has with his trade talks, the prime minister said they're looking at two things to help Canadian workers and the economy in those discussions. 'The first is, of course, access to the U.S. market, access we have as closely as possible as we do have today under current trading arrangements. It won't be exactly the same but as close as possible,' he said. 'But also stability; stability and greater certainty. That's worth a lot, because that anchor will help us decide which projects we're going to do as a country and how we're going to move forward.' Story continues below advertisement —with files from Global News' Joel Senick
Toronto Sun
20 hours ago
- Toronto Sun
CHARLEBOIS: Canned and bankrupt: Why Del Monte lost the shelf war
Del Monte didn't fail because people stopped eating canned food — it failed because it stopped evolving while the market moved on. FILE - In this June 22, 2006 file photo, Del Monte canned vegetables are seen for sale in Berkeley, Calif. Photo by Ben Margot / AP Del Monte's bankruptcy this week stunned many who grew up with its canned fruit cocktail, peas, and corn lining their family pantry. After 139 years, the company has filed for Chapter 11 protection in the United States. But this isn't a canary-in-the-coalmine moment for the entire sector — it's more a case study in how legacy brands can fall out of sync with modern market dynamics. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account In Canada, the Del Monte brand hasn't truly been 'Del Monte' for some time. In 2018, French multinational Bonduelle acquired the rights to use the Del Monte label for canned fruits and vegetables in Canada, merging it with its existing Arctic Gardens portfolio. While the branding remained familiar, the operational footprint and supply chains became distinctly European. Most Canadians never noticed. The irony is that, despite the growing cultural emphasis on fresh and frozen foods, canned goods are enjoying a quiet resurgence. In Canada, sales in the 'meals and soups' canned category have grown by more than 40% since 2018. In an era of persistent food inflation and rising food insecurity, shelf-stable, affordable, and convenient products like canned foods continue to offer real value. But for Del Monte, perception lagged behind this reality. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Over the past half-century, Canadian consumers have shifted decisively toward frozen and fresh alternatives. The quality gap has narrowed substantially as advances in flash-freezing have preserved nutrient content in ways canned products cannot match. Retail prices for frozen goods have also stabilized, giving consumers more choices and undermining the traditional value proposition of canned staples. Del Monte's problems, however, run much deeper than evolving consumer preferences. The company is facing over a billion dollars in debt and has failed to adapt its product lines and branding to meet modern tastes. It was also blindsided by geopolitical shocks. Steel and aluminum tariffs imposed during the Trump administration inflated packaging costs, which eroded already-thin margins. Few companies in this space were as exposed to those pressures as Del Monte. This advertisement has not loaded yet, but your article continues below. Still, the brand isn't going away. It will likely re-emerge under new ownership, streamlined and repositioned. But to thrive, it will need to diversify its SKUs, expand its footprint across more grocery categories, and find ways to compete in a center-of-store battlefield now dominated by agile private labels offering lower prices and faster innovation cycles. This restructuring opens the door for smaller Canadian brands to grow — especially those producing fresh or locally-sourced options. For years, these companies have struggled to scale under the shadow of legacy incumbents like Del Monte. A realignment in the canned food aisle could finally give them the shelf space and leverage they need with major retailers. This advertisement has not loaded yet, but your article continues below. Read More One overlooked player in this shakeup is the food bank sector. Traditionally reliant on canned donations, food banks are also evolving. As societal understanding of nutrition deepens, they are shifting toward more diverse, fresh, and culturally relevant offerings. Canned goods still have a role, but no longer the central one they once held. In the end, Del Monte's bankruptcy is not a symptom of an industry in crisis. It's a cautionary tale about brand inertia, trade exposure, and the failure to modernize in a volatile, value-driven food economy. — Dr. Sylvain Charlebois is the Director of the Agri-Food Analytics Lab at Dalhousie University and co-host of The Food Professor Podcast RECOMMENDED VIDEO Crime Canada Ontario Canada Other Sports
