News of the day: Privatizing airports, defence startup, central bankers, buying annuities, investment forecasts and more

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A traveller walks past Air Canada planes at Pearson International Airport in Toronto.Airports are among the highest-value federally owned assets that could be considered for sale as much of the infrastructure owned by governments across Canada resides in either provincial or municipal hands. Photo by Darren Makowichuk/Postmedia

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It’s Friday, May 1. Here are the top stories we’re following today.

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The Canadian government is moving in the right direction with a renewed look at privatizing the country’s largest airports, which are in the “sweet spot” for institutional investors looking to deploy more of their assets at home, says a senior executive at Canada’s largest pension fund.

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Former minister of national defence Harjit Sajjan speaking at a conference in 2023. Former minister of national defence Harjit Sajjan speaking at a conference in 2023. Photo by Wikimedia Commons

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Vancouver-based defence and dual-use startup Juno Industries Inc. on Friday completed a $12-million financing round in a reverse takeover of publicly traded Trail Blazer Capital Corp. so it can access capital quicker and scale up faster.

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Bank of Canada governor Tiff Macklem takes part in a news conference in Ottawa on April 29. Bank of Canada governor Tiff Macklem takes part in a news conference in Ottawa on April 29. Photo by Blair Gable/Postmedia files

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The iceberg ahead is inflation, and the Bank of Canada and U.S. Federal Reserve seem to be hoping it melts before their economies ram right into it, writes Robert McLister.

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A basic annuity, with no safeguards built in, has no inflation protection. A basic annuity, with no safeguards built in, has no inflation protection. Photo by Getty Images/iStockphoto

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FP Answers on how annuities could trump a balanced portfolio of exchange-traded funds in retirement.

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A pair of male hands surrounding a crystal ball conjuring up a hologram on an isolated dark studio background Forecast-based investing is best summed up by author H.L. Mencken’s assertion that ‘we are here and it is now. Further than that, all human knowledge is moonshine.’ Photo by Allanswart/Getty Images

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There is a saying that if you are being chased by a bear, “You don’t have to run faster than the bear to get away; you just have to run faster than the person next to you.” With respect to forecasting, the ability to outperform doesn’t stem from making accurate predictions, but rather from making predictions that are more accurate than those of others.

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