US Court Rules in Zimbabwe's Favor Over $93 Million Mining Dispute
The US Court of Appeals, District of Columbia Circuit, ordered the case brought by Amaplat Mauritius Ltd. and Amari Nickel against the Zimbabwe Mining Development Corp. be dismissed, citing a lack of jurisdiction.
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Hamilton Spectator
27 minutes ago
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B.C.‘s independent wood manufacturers decry retroactive U.S. softwood duties
VANCOUVER - British Columbia's independent wood product makers say hundreds of small- and medium-sized manufacturers may be forced to shut down in light of the latest decision from the United States to raise anti-dumping duties on Canadian softwood. The province's Independent Wood Processors Association says in a release that the U.S. Commerce Department's decision this week to raise duties also includes a requirement for Canadian companies to retroactively remit duties for products shipped to the United States since Jan.1, 2023. Association chair Andy Rielly says in a statement that the requirement to pay duties on products shipped in the last 31 months could not only force small B.C. producers to shut down, but may also threaten operators' personal assets as they may have to risk using their homes as collateral to secure bonds to pay. Rielly is urging the Canadian government to create support programs to make sure B.C.'s independent wood processors can keep workers employed and their companies running. The U.S. Commerce Department said earlier in the week it will raise anti-dumping duties on Canadian softwood to 20.56 per cent, drawing the ire of several B.C. industry groups such as the B.C. Council of Forest Industries and the B.C. Lumber Trade Council. The Independent Wood Processors Association says the the 'all-others' rate affecting its members will be raised from 14.4 per cent to 27.3 per cent, with the possibly of another increase 'in the coming weeks' potentially pushing the duties for their products to as high as 35 per cent. 'Until the Canadian government can negotiate a settlement to this long-festering dispute, we need a government support program to keep our workers employed,' Rielly says, adding an overall duty of 35-per-cent would force members to pay retroactive duties of 27 per cent on products already shipped. Association executive director Brian Menzies describes independent wood product producers as 'collateral damage' in the trade war, and says the only hope they have of avoiding the hit is either 'a favourable appeal from the Canada-US-Mexico Agreement' or 'pursuing a bilateral negotiated resolution.' 'We should not face export taxes or quotas,' Menzies says. 'Our raw materials are not subsidized, and we are too small to 'dump' our products in the U.S. market. 'We acquire logs and lumber at 'arm's length' from various suppliers on the open market, just like claims made by members of the U.S. Lumber Coalition, and yet our Canadian companies along with U.S. consumers must pay these unfair and costly duties.' Prime Minister Mark Carney had previously said that a future U.S.-Canada trade deal could include softwood lumber quotas. This report by The Canadian Press was first published July 26, 2025.
Yahoo
an hour ago
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Famed market bear Albert Edwards warns of an 'everything bubble' in US stocks and home prices that could soon pop
Albert Edwards warns of a potential US stock and housing market bubble. Rising interest rates and Japan's fiscal concerns could trigger market corrections, he said. Edwards publishes his notes under Société Générale's "alternative view." Société Générale's Albert Edwards, famed for calling the dot-com bubble leading up to the 2000 crash, is again warning investors of a potentially painful plunge ahead. In his latest note to clients this week, Edwards said US stocks and home prices are in an "everything bubble" that he thinks could soon pop. Stock valuations are indeed steep. The Shiller cyclically-adjusted price-to-earnings ratio sits at 38, one of its highest levels ever, and both the trailing and forward 12-month PE ratios of the S&P 500 are historically high. To Edwards, this doesn't sit well with the fact that long-term interest rates have been on the rise. Rising long-end government bond yields tend to weigh on stock-market valuations as investors can find attractive returns without taking on the high level of risk in the stock market. Yet US stocks have seen a robust rally in recent years, gaining 78% since October 2022 lows. The market's high valuations have kept future estimated equity-market yields low. When stocks are more cheaply valued, they can expect higher future returns, and vice versa. "It is notable how the US equity market has been able to sustain nose-bleed high valuations despite longer bond yields grinding higher," Edwards wrote. "I don't expect it'll be able to ignore it much longer." On housing, Edwards said that the home price-to-income ratio in the US has been virtually flat over the last few years following the pandemic bump, while the ratio has dropped in countries like the UK and France. "The US is the only market in which house price/income ratios have NOT de-rated since 2022 as bond yields have risen. Is the US housing market also exceptional relative to Europe? No, it's nonsense and, in time, investors will come to claim they knew that all along," Edwards wrote. As for what could cause the potential bubbles in US stocks and home prices to burst, Edwards said to watch Japan. "In the wake of the ruling party coalition losing its Upper House majority, concerns in the bond market about the risks of further fiscal easing and high inflation are growing," he wrote. Higher inflation in Japan could mean higher interest rates and a further unwinding of the Japanese yen carry trade, in which foreign investors borrowed cheaply in yen and converted to dollars to buy higher-yielding US assets. In 2024, the Bank of Japan unexpectedly hiked rates, roiling global markets as investors liquidated assets they had bought with borrowed yen. In May, Edwards warned rising interest rates in Japan could cause a "global financial Armageddon." Edwards publishes his notes, which regularly express a bearish outlook, under Société Générale's "alternative view," separate from the bank's house view. "A lot of clients who totally disagree with me like to read my stuff," he told Business Insider in May. "It's a reality check." Read the original article on Business Insider Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Famed market bear Albert Edwards warns of an 'everything bubble' in US stocks and home prices that could soon pop
Albert Edwards warns of a potential US stock and housing market bubble. Rising interest rates and Japan's fiscal concerns could trigger market corrections, he said. Edwards publishes his notes under Société Générale's "alternative view." Société Générale's Albert Edwards, famed for calling the dot-com bubble leading up to the 2000 crash, is again warning investors of a potentially painful plunge ahead. In his latest note to clients this week, Edwards said US stocks and home prices are in an "everything bubble" that he thinks could soon pop. Stock valuations are indeed steep. The Shiller cyclically-adjusted price-to-earnings ratio sits at 38, one of its highest levels ever, and both the trailing and forward 12-month PE ratios of the S&P 500 are historically high. To Edwards, this doesn't sit well with the fact that long-term interest rates have been on the rise. Rising long-end government bond yields tend to weigh on stock-market valuations as investors can find attractive returns without taking on the high level of risk in the stock market. Yet US stocks have seen a robust rally in recent years, gaining 78% since October 2022 lows. The market's high valuations have kept future estimated equity-market yields low. When stocks are more cheaply valued, they can expect higher future returns, and vice versa. "It is notable how the US equity market has been able to sustain nose-bleed high valuations despite longer bond yields grinding higher," Edwards wrote. "I don't expect it'll be able to ignore it much longer." On housing, Edwards said that the home price-to-income ratio in the US has been virtually flat over the last few years following the pandemic bump, while the ratio has dropped in countries like the UK and France. "The US is the only market in which house price/income ratios have NOT de-rated since 2022 as bond yields have risen. Is the US housing market also exceptional relative to Europe? No, it's nonsense and, in time, investors will come to claim they knew that all along," Edwards wrote. As for what could cause the potential bubbles in US stocks and home prices to burst, Edwards said to watch Japan. "In the wake of the ruling party coalition losing its Upper House majority, concerns in the bond market about the risks of further fiscal easing and high inflation are growing," he wrote. Higher inflation in Japan could mean higher interest rates and a further unwinding of the Japanese yen carry trade, in which foreign investors borrowed cheaply in yen and converted to dollars to buy higher-yielding US assets. In 2024, the Bank of Japan unexpectedly hiked rates, roiling global markets as investors liquidated assets they had bought with borrowed yen. In May, Edwards warned rising interest rates in Japan could cause a "global financial Armageddon." Edwards publishes his notes, which regularly express a bearish outlook, under Société Générale's "alternative view," separate from the bank's house view. "A lot of clients who totally disagree with me like to read my stuff," he told Business Insider in May. "It's a reality check." Read the original article on Business Insider
