Carney names submarine builder in $50-billion defence contract

Prime Minister Mark Carney will announce Monday in Halifax which company will build 12 submarines for Canada — the largest defence procurement in the nation's history. The contract spans $20 billion to $50 billion when including lifecycle costs. Germany's ThyssenKrupp and South Korea's Hanwha are the competing bidders. The announcement precedes Carney's departure for a NATO summit in Turkey.