Canadian trade officials in Washington, Moneris sale to U.S. private equity and Air Canada sells 25% of Aeroplan stake: Must-read business and investing stories for the week of Aug. 15

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.

Canadian trade officials in Washington as tariff deadline nears

As U.S. President Donald Trump’s tariff deadline approaches next week, Canada’s top trade emissaries are in Washington scrambling for a trade deal. A new round of 50-per-cent tariffs on a range of Canadian goods is set to take effect on Aug. 19.

Trade Minister Dominic LeBlanc and lead trade negotiator Janice Charette sat down on Thursday with U.S. Trade Representative Jamieson Greer at the Winder Building office near the White House – the fourth meeting in the last three weeks. Last week, Ms. Charette told Mr. Greer that, if the latest tariffs come into effect, negotiations would come to a halt and Canada would be forced to retaliate.

Prime Minister Mark Carney has promised a deal that will reduce Mr. Trump’s tariffs on autos, steel, aluminum and forest products. Ottawa is weighing a proposal that would see Ottawa accept U.S. auto tariffs in exchange for a reduction on levies for vehicles compliant with USMCA. Meanwhile, Ontario Premier Doug Ford said he is open to putting American alcohol back on store shelves if a “fair deal” is reached.

RBC, BMO agree to sell Moneris to U.S. private equity firm for about $2-billion

Earlier this week, RBC and BMO agreed to jointly sell Canadian payment processor Moneris Solutions Corp. to an American private equity firm for about $2-billion in cash. This is significant because thousands of businesses use Moneris’ point-of-sale machines and other services to accept and manage payments, handling one-third of transactions across the country.

The sale to California-based Francisco Partners requires regulatory approvals, including clearance under the Competition Act, but it has prompted concerns from payment industry leaders who say the deal could erode Canada’s data sovereignty and compromise the infrastructure used to move money.

The topic has also become a major focus for Ottawa. Last September, AI Minister Evan Solomon said at a conference in Montreal that Canada needs to create a sovereign digital economy that is “free from coercion” and that someone “can’t decide to turn off.”

Group of B.C. Amazon workers tries to decertify union on verge of securing historic agreement

Hundreds of unionized Amazon warehouse workers are on the verge of securing a historic first collective agreement this month – but have hit a roadblock. Amazon has asked the BC Labour Relations Board to pause bargaining with Unifor Local 114 at its Delta, B.C., warehouse after a separate group of employees tried to get the union decertified altogether. The unknown number of employees are asking the labour board to make the results of the decertification vote public before a first collective agreement becomes official, saying they believe more than 50 per cent of employees do not want to be unionized.

Amazon and the union have been in hostile negotiations for more than a year over the terms of a first contract. If agreed upon, it would become the first-ever valid collective agreement in North America between Amazon and a group of employees – a milestone achievement for a workers’ movement that has been pushing to unionize warehouses since the pandemic.

Air Canada sells 25% stake in Aeroplan to Blackstone and pension-fund group for $2.5-billion

Air Canada is selling a 25-per-cent stake in its Aeroplan loyalty program for $2.5-billion to Blackstone Inc. and a group of Canadian pension funds. Blackstone and the Caisse de dépôt et placement du Québec are leading the deal. Other investors include the Public Sector Pension Investment Board and British Columbia Investment Management Corp.

The deal, which gives Aeroplan a valuation of over $10-billion, keeps the program under Canadian control, while giving pension funds and Blackstone a chance to receive distributions from Aeroplan.

Air Canada is keeping control of Aeroplan’s day-to-day management, and plans to use proceeds from the sale to repay $1.7-billion of bonds and to buy back $800-million in shares. The transaction is expected to close on Aug. 17.

Inside the agency advancing Carney’s major projects agenda

Almost a year ago, Prime Minister Mark Carney set up the Major Projects Office as the centrepiece of his strategy to ignite a national construction boom. Nearly 12 months in, the MPO is evaluating a slew of multibillion-dollar proposals for accelerated regulatory treatment while also facing questions about transparency, speed and the challenges that still lie ahead.

Reporters Jeffrey Jones and Stephanie Levitz spoke to more than a dozen business and Ottawa insiders and reviewed hours of parliamentary testimony and dozens of pages of documentation into the MPO’s workings to take a look at how it is performing as its 150 staff members pore over $192-billion worth of projects. They examine how the operation works as it heads into a crucial period when it will start issuing its recommendations on key projects.

Prepare for the week ahead with The Globe’s investing calendar.