Carney picks oil exec as New York envoy, replacing Tom Clark

OTTAWA — Prime Minister Mark Carney’s new sovereign wealth fund is likely to follow in the footsteps of a troubled British fund he had a hand in making, says a new report. The report, released Thursday by think tank the Montreal Economic Institute (MEI), notes that Carney’s Canada Strong Fund echoes the United Kingdom’s National Wealth Fund , and argues that the resemblance should be a red flag for the Canadian prime minister and former Bank of England governor. “Two years before selling this model to Canadians, Mark Carney recommended it to the British, who implemented it,” says...