UK Ends Talks with Canada on Merging Defense Banks

• The UK and Canada have ended talks to merge their defense financing banks.
• Disagreements centered on the location of a joint institution and terms of future membership.
• Britain will not join the Canada-led Defence Security and Resilience Bank.
• Both countries plan to develop a framework for cooperation between their respective defense-funding initiatives.
• The decision may be perceived as a snub to Canadian PM Mark Carney.