Good morning. Ottawa is planning a policy pivot on a requirement for foreign streaming giants to increase their contributions to Canadian broadcasting. More on that below, along with the latest in the Middle East and the Prime Minister\u2019s visit to Europe. Let\u2019s get to it.<\/p>\n
Open this photo in gallery:<\/a><\/p>\n The 2023 Online Streaming Act, which has yet to be fully implemented by the CRTC, is viewed as a trade irritant in Washington.Sean Kilpatrick\/The Canadian Press<\/p>\n TOP STORYOttawa to order CRTC to scrap funding demands<\/p>\n The latest: The Globe and Mail has learned that Ottawa will direct the country\u2019s broadcasting regulator to scrap an increased requirement<\/a> for foreign streaming platforms such as Netflix and Disney+ to fund local news in Canada, as well as specialized platforms including the national Indigenous television network. <\/p>\n The background: Last week the federal government directed the Canadian Radio-television and Telecommunications Commission to review its recent ruling, which required streaming giants to triple the proportion of Canadian revenues they must inject back into the country\u2019s cultural sector, to 15 per cent from the initial 5 per cent.<\/p>\n The context: Observers view the intervention as an attempt by Mark Carney\u2019s government to assuage U.S. concerns about the Online Streaming Act\u2019s impact on American film and music streaming giants. The 2023 act, which has yet to be fully implemented by the CRTC, is viewed as a trade irritant in Washington.<\/p>\n What\u2019s next: According to senior government sources, Ottawa is planning to enter into talks with foreign streamers and others to determine \u201ca more reasonable rate\u201d of contribution to Canadian programming, which has yet to be decided.<\/p>\n Sign up for Morning Update:<\/p>\n Reading this online? Start your morning with context and insight on the day’s biggest stories, in your inbox every weekday.<\/p>\n Open this photo in gallery:<\/a><\/p>\n Lebanese security officers gather Sunday at the site where an Israeli air strike hit a building in Dahiyeh, a southern suburb of Beirut.Hassan Ammar\/The Associated Press<\/p>\n WorldMiddle East tensions rise<\/p>\n The latest: Israel says it hit a petrochemical plant<\/a> in Iran, along with strikes on military targets, after U.S. President Donald Trump reportedly told Israeli Prime Minister Benjamin Netanyahu to refrain from further attacks. Over the weekend, Israel struck Beirut\u2019s southern suburbs<\/a> just days after a ceasefire agreement took effect and despite a U.S. request not to attack Lebanon\u2018s capital.<\/p>\n What\u2019s next: Israeli Prime Minister Benjamin Netanyahu, who faces elections later this year, wants to press ahead with Israel\u2019s offensive until he believes Hezbollah no longer poses a threat. Israeli strikes over southern Lebanon continue daily, and Israeli forces have seized around a fifth of Lebanon in a ground invasion.<\/p>\n Open this photo in gallery:<\/a><\/p>\n Preparing for a summer of new cultural releases.Illustration by Hayley Watson<\/p>\n How We LiveYour summer culture guide<\/p>\n The latest: It\u2019s the time of year when we become spoiled with options for entertainment and enjoyment. Our arts reporters have researched the best from each of their beats to give readers a preview of new creations to watch for. <\/p>\n What\u2019s next: Take your pick! You can check out these five Canadian visual arts exhibits<\/a> this summer season. There\u2019s a subjective guide to the best pop, rock and country concerts<\/a> and what to watch on stages<\/a> across the country. Here are 10 new albums<\/a> for every music taste and 10 promising new movies<\/a>. Want to stay home and watch TV? Here are 10 new series<\/a> to take a chance on.<\/p>\n EconomyAlmost 10% of Toronto mortgage holders won\u2019t qualify to refinance: BoC<\/p>\n The latest: According to the Bank of Canada\u2019s financial stability report, estimates indicate that 9 per cent of borrowers in the Toronto region could not qualify to refinance their loans<\/a> next year if home prices remain at current depressed levels. The reason is that these borrowers\u2019 property values have fallen significantly since they got their mortgage. These borrowers will not be able to take equity out of their home to pay down debts, adding risk to refinancing. <\/p>\n What\u2019s next: The report says that if home prices were to drop by another 10 per cent from current levels, the proportion of people who could not refinance in the Toronto area would rise to 12 per cent, while the national rate would climb to 7 per cent. The next rate decision<\/a> is on Wednesday; the bank is expected to keep interest rates steady.<\/p>\n Meanwhile: Prime Minister Mark Carney will travel to Dublin and Paris June 11-17<\/a> for bilateral talks intended to deepen trade and security ties, before attending a partnership-focused G7 leaders\u2019 summit in France.<\/p>\n Russia-Ukraine warCanadian businessman sanctioned by EU <\/p>\n The latest: Guerman Goutorov, a Canadian businessman who operates an armoured-vehicle manufacturing company, has been hit with sanctions by the European Union<\/a> for allegedly helping Russia in its war on Ukraine. The Canadian government has not penalized or sanctioned Goutorov or his company, which was originally founded in Canada in 1992. The company has since moved its headquarters to the United Arab Emirates. <\/p>\n What\u2019s next: Foreign Affairs Minister Anita Anand\u2019s spokesperson told The Globe and Mail the minister has sought \u201cfurther advice\u201d from her department. The company, Streit Group, has been repeatedly accused of selling military vehicles to repressive regimes.<\/p>\n BookmarkedThe Quote<\/p>\n How can we start to really make Canada a powerhouse in terms of manufacturing and design? I think one of the ways to do that is to build things that last for 50 or 100 years, not just for a summer or two.<\/p>\n \u2014 Howard Munroe, associate professor of industrial design at OCAD University<\/p>\n Even if you have never heard the term \u201cmonobloc chair<\/a>\u201a\u201d chances are you\u2019ve sat on one. The chair is also a Canadian invention that eventually became an international phenomenon.<\/p>\n
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