Good evening, readers.

We finally know the details of the agreement between Canada and the U.S. to open the Gordie Howe bridge that connects Windsor and Detroit.

Bloomberg viewed the document and it was what many anticipated — the two countries agreed to a 15-year 50/50 split of net revenues from the bridge. This means the money generated from the tolls subtracted by the operating expenses such as snow cleaning or repairs, but not including Canada’s debt payments.

This perhaps explains Prime Minister Mark Carney’s wording on Thursday when he stated that tolls wouldn’t be split between the countries until Canada pays off the debt it incurred for financing the entire project. This is technically correct, but the net revenues — if there are any — will be divided while we’re still paying off the debt.

The full piece from Bloomberg is here.

An iPolitics’ investigation is raising questions about the feds’ $4.4 billion Housing Accelerator Fund.

Our analysis of the publicly available progress reports shows missing documentation and outdated data from recipients, raising questions on whether Ottawa is hitting its targets for the program.

The Canada Mortgage and Housing Corporation is responsible for oversight of the Housing Accelerator Fund and hosts an online progress page to keep tabs on how municipalities are faring. Access to HAF was dependent on applicants agreeing to meet housing permit goals.

An initial glance of the page suggests most municipalities are meeting or exceeding their three-year targets. Poring deeper, however, raises more questions.

Many municipalities last submitted annual reports in 2025 — if they have at all — and it’s not clearly detailed if the new housing is directly attributable to HAF changes or something else.

While the annual reports attempt to detail how municipalities are working to their targets, they fail to explain if any of the permits are related to HAF improvements.

Barbara Patrocinio and Marco Vigliotti have this one.

And shifting gears, Ontario Premier Doug Ford is losing two cabinet ministers, as one resigned Friday amid criticism for expensing hotel stays in Toronto despite living in the city and a second announced his retirement.

Stan Cho, who represents the north Toronto riding of Willowdale, resigned his post as minister of tourism, culture and gaming after coming under fire for expensing $16,000 in Toronto hotel stays.

Publicly available expense records show that some of Ford’s cabinet ministers and other caucus members who live in and near Toronto had been using a so-called special circumstances rule on Toronto hotel expenses since about 2023.

Cho did not rack up the largest bills, but his riding is much closer to Queen’s Park than the other top spenders.

Meanwhile, Minister of Sport Neil Lumsden announced that he is retiring from cabinet and the legislature on Aug. 4. That leaves Ford down a total of three cabinet ministers, after former Treasury Board president Caroline Mulroney resigned last month.

The Canadian Press explains.

In Other Headlines

Internationally

Across the pond in the U.K., Andy Burnham says he is “finalizing” who will be in his cabinet ahead of becoming prime minister on Monday.

Speaking at an event in Gravesend, Kent, he also talked about the country’s “broken” social care system and says Westminster has “flinched over the years” from fixing it.

Earlier in the day, Burnham was confirmed as the new Labour leader, saying in a speech: “I have a plan.” At a special party conference, the Makerfield MP pledged to give people “hope back”, saying the U.K. had “turned its back” on working class communities.

Burnham replaces Keir Starmer, who he thanked “for his service” though also pledged “the most significant change moment in our politics for 40 years.”

BBC News has this live coverage.

In Other International Headlines

The Kicker

We can’t believe it’s over. The final two games of the 2026 FIFA World Cup will take place over the weekend, putting a close to an historic iteration of the tournament that crowns the best national team in men’s soccer.

This year’s edition was the first to have games played across three countries, including first-time host Canada. We also had our best-ever finish, making it all the way to the Round of 16. This is also the first iteration to feature 48 teams.

Despite all the change, there is one constant — Leo Messi and Argentina’s dominance. Argentina will look to repeat as a champions against Spain on Sunday in New Jersey, while France and England will duke it out for the bronze on Saturday in Miami.

Don’t cry because it’s over, smile because it happened… except for us Italian fans, who will have to pray that we don’t get locked out of the tournament again in 2030.

Have a great weekend!