Bay Street Edition

CEOs in the PMO: Mark Carney’s Inner Circle Gives Business More Power in Ottawa

Also: What Kraken tells us about Canada’s defense sector

Prime Minister Mark Carney, left, and Energy Minister Tim Hodgson met decades ago when they both worked at Goldman Sachs.Photographer: Kamara Morozuk/Bloomberg

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By Christine Dobby

April 24, 2026 at 4:45 PM UTC

Welcome to Bay Street Edition, our weekly newsletter devoted to what’s happening in Canadian finance, covering strategy, deals, people moves and economics.

I’m Christine Dobby, Bloomberg’s Toronto-based banking reporter, and you’ll find me in your inbox every Friday. This week, we’re talking about Mark Carney as CEO, growth in Canada’s defense sector and why one investor is raising a big fund to snap up distressed condos. Plus: The latest exotic travel destination for Americans is closer than you’d think.