Prime Minister Mark Carney and Alberta Premier Danielle Smith announced plans to advance a Pacific Coast oil pipeline through southern British Columbia along the existing Trans Mountain corridor, with design capacity exceeding 1 million barrels per day and an aim to reach Asian markets. The plan carries federal and provincial political backing while keeping the oil tanker ban off northern British Columbia in place. The Trans Mountain expansion entered service in 2024, and more than two-thirds of crude shipped from Canada’s Pacific Coast is now sold into Asia. Officials say the move is intended to reduce reliance on the U.S. and narrow the discount on Canadian crude.

The Trump administration has ordered OpenAI and Anthropic to roll out their latest AI models, GPT-5.6 Sol and Mythos 5, on a restricted basis, limiting access to a small set of customers approved by the administration over cybersecurity concerns. The move follows an AI oversight executive order signed in June that set a voluntary 30-day security review framework ahead of public releases. Anthropic was previously temporarily blocked over alleged weaponization risks tied to Mythos, and its Fable 5 model was also taken offline for two weeks. The restrictions have directly affected both companies’ IPO plans and added to market concerns about commercialization timelines and regulatory uncertainty.

Most U.S. stocks rose Friday, but a sharp selloff in AI-related chip names left the S&P 500 slightly lower for the week. Micron Technology fell 6.7%, while ON Semiconductor sank 23.7% after agreeing to buy Synaptics in an all-stock deal valued at roughly $7 billion. Brent crude slid 3.8% to $72.60 a barrel, below its level from the day before the United States and Israel attacked Iran and events later led to the closure of the Strait of Hormuz and reduced global oil shipments. Apple said it raised prices on laptops and other products by significant percentages to offset higher memory costs, stoking worries that demand could weaken.

The U.S. Supreme Court ruled 7-2 that federal regulators’ assessment of glyphosate, Roundup’s key ingredient, and the lack of a required cancer warning label preempt state “failure-to-warn” lawsuits. The decision strengthens Bayer’s legal position as it seeks to have thousands of pending warning-related claims dismissed. Bayer has previously set aside $16 billion for litigation and has proposed a $7.25 billion class-action settlement. Roughly 200,000 Roundup-related claims have been filed, most from home users.

A court filing says President Donald Trump spoke in February with Live Nation CEO Michael Rapino about the company’s antitrust case, before the Justice Department abruptly reached a federal settlement early in the March trial, according to Live Nation. Most states declined to join the deal, arguing it did not do enough to curb the company’s dominance in venues and Ticketmaster ticketing. The trial continued, and a New York jury later found Live Nation to be a monopoly and said Ticketmaster’s practices led consumers in 22 states to pay an extra $1.72 per ticket.

Economists expect the Personal Consumption Expenditures price index to show prices rose 4.1% in May, the highest level in three years, heightening worries the Federal Reserve could raise rates by year-end. Technology shares extended a third straight day of declines, with Nvidia, Micron and Microsoft all lower. Gold slid 3.8% to just below $4,000 an ounce, while the 10-year Treasury yield eased to 4.40% and the 2-year stayed elevated, reflecting tighter-policy expectations.

California plans to sue the Trump administration, alleging it bought back the Golden State Wind offshore lease for about $120 million and required the money to be redirected into Gulf Coast oil and gas assets. The state says the move is part of a broader federal reversal of clean-energy policy that has already ended two of five California offshore wind leases, with nearly $2.6 billion spent on buybacks. The dispute underscores a shift in policy toward fossil fuels that directly supports oil assets through mandated investment.

The Trump administration said it will provide $17.5 billion in federal loans to support the development of 10 new large Westinghouse AP1000 nuclear reactors, with a goal for all projects to begin construction by 2030 and enter service in the mid2030s. Officials said the effort is aimed at meeting surging electricity demand from massive data centers and relies on the same technology used at Georgia Power Co.’s Plant Vogtle, which faced delays and cost overruns. The Energy Department said the financing is intended to buy long-lead nuclear components rather than fund construction, and that seven utilities and energy companies have submitted letters of intent for potential sites. The plan would be the largest U.S. nuclear new-build push in nearly three decades.

The Federal Energy Regulatory Commission unanimously approved a new rule requiring grid operators to speed up interconnection for large power users, particularly AI data centers. The rule says data centers must pay the full cost of related grid upgrades and cannot pass those costs on to ordinary customers. Meta, Google, Amazon, Microsoft and Oracle are among the companies cited as having signed a “Ratepayer Protection Pledge.” The move targets long waits for power hookups in parts of the U.S., where data centers can face multi-year queues as infrastructure lags demand.