News of the day: Exports surge, venture capital investment jumps, defying economic gravity, MDA satellite deals, World Cup drives spending and more

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For the month of June, Canada's global trade surplus widened slightly to $3.9 billion from $3.7 billion in May, marking the fourth consecutive monthly trade surplus.For the month of June, Canada's global trade surplus widened slightly to $3.9 billion from $3.7 billion in May, marking the fourth consecutive monthly trade surplus. Photo by MARCO ANTONIO MARTINEZ / AFP via Getty Images

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It’s Tuesday, August 4. Here are the top stories we’re following today.

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Total exports rose by 13.1 per cent for the quarter, while imports increased by 4.2 per cent. It was the strongest increase in exports since the third quarter of 2020, according to Statistics Canada data published on Tuesday.

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A pedestrian at Bay and King streets in the financial district in Toronto. A pedestrian at Bay and King streets in the financial district in Toronto. Photo by Peter Power/Postmedia files

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It marks the first year-over-year increase in first-half venture capital investment since 2021, with the bulk of the gains coming early in the year. Second quarter investment this year declined seven per cent to $1.29 billion from the first quarter’s $1.39 billion.

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Canadian flag with Parliament Hill in the background in Gatineau. Canadian flag with Parliament Hill in the background in Gatineau, Que. Photo by TONY CALDWELL, Postmedia

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Canada has a recurring pattern of tax measures built for a headline and drafted without regard for how people move, writes Kim Moody.

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Communications satellite on the background of the starry sky. Satellite connection The announcement follows a partnership announced between MDA Space Ltd., Telesat Corp. and the Department of National Defence to deliver military satellite communications for the Canadian Armed Forces in the Arctic. Photo by Anton Petrus/Getty Images

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Ottawa’s Telesat Corp. said that it is expanding its Telesat Lightspeed low-earth orbit network by 67 satellites, lifting its total number of fully funded satellites to 225 from 156. Brampton, Ont.-based MDA Space Ltd. will manufacture an additional 27 satellites for Telesat.

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Fans stream towards BC Place stadium in anticipation of game between Canada and Switzerland during FIFA World Cup 2026 in Vancouver, BC Wednesday, June 24, 2026. The data gathered were from spending using Visa cards, including at stadiums, between June 11 to July 17, 2026 versus the same days in 2025. Photo by Jason Payne/Postmedia

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Toronto and Vancouver hosted 13 matches during this year’s World Cup run. Visa said its data reveals the tournament left a measurable economic impact on local businesses across the two host cities.

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