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Yahoo
2 hours ago
- Yahoo
Homelessness minister must resign over rent hike after tenants' exit, Tories say
Labour's homelessness minister is facing calls to resign after reports claimed she hiked rent on a property she owns by hundreds of pounds just weeks after the previous tenants' contract ended. Four tenants who rented a house in east London from Rushanara Ali were sent an email last November saying their lease would not be renewed, which also gave them four months' notice to leave, the i newspaper reported. Ms Ali's property was then re-listed with a £700 rent increase within weeks, the newspaper said. Kevin Hollinrake, the Conservative party chairman, called for the minister to stand down, accusing her of 'staggering hypocrisy' over her handling of the rental property. A spokesperson for the minister said: 'Rushanara takes her responsibilities seriously and complied with all relevant legal requirements.' The house, rented on a fixed-term contract, was put up for sale while the tenants were living there, and it was only re-listed as a rental because it had not sold, according to the i. Tory frontbencher Mr Hollinrake said: 'I think it shows staggering hypocrisy. Rushanara Ali has been somebody who's obviously a Government minister in charge of homelessness. 'She's spoken out about exploiting tenants, about providing more protections to tenants. 'You can't say those things, then do the opposite in practice, as a landlord. She's got to resign.' He said the conduct appeared to be 'unethical, not illegal' but 'we can't just say one thing and do another'. The minister's actions have also faced scrutiny from rental rights campaigners, as the Government seeks to clamp down on what it sees as unfair rental practices. The Renters' Rights Bill includes measures to ban landlords who end a tenancy to sell a property from re-listing it for six months. The Bill, which is nearing its end stages of scrutiny in Parliament, will also abolish fixed-term tenancies and ensure landlords give four months' notice if they want to sell their property. Ben Twomey, chief executive of Generation Rent, described the allegations as 'shocking and a wake-up call to Government on the need to push ahead as quickly as possible to improve protections for renters'. He added: 'It is bad enough when any landlord turfs out their tenant to hike up the rent, or tries their luck with unfair claims on the deposit, but the minister responsible for homelessness knows only too well about the harm caused by this behaviour. 'These allegations highlight common practices that the Government can eradicate. 'The Renters' Rights Bill would ban landlords who evict tenants to sell the property from re-letting it within 12 months, to deter this kind of abuse – but unfortunately members of the House of Lords have voted to reduce this to six months. 'The Government can also use its review of the deposit protection system to penalise landlords who make exaggerated claims at the end of the tenancy.' Tom Darling, director at the Renters' Reform Coalition, said: 'It's mind-boggling that we have a homelessness minister who has just evicted four people in order to rake in more rent – something that will soon be illegal under the Renters' Rights Bill her own department is bringing through Parliament. 'The Government are currently considering an amendment to the legislation from the House of Lords which reduces the ban on re-letting after eviction from 12 months to six months. 'The Government must remove this amendment, and at the very least minister Ali must recuse herself from any discussions on this within Government.' Speaking to broadcasters, Home Secretary Yvette Cooper insisted Ms Ali had not breached any rules. 'I don't know any of the details of this, but I understand that she has followed all of the rules in this case,' Ms Cooper said.
Yahoo
2 hours ago
- Yahoo
Trump's tariff war: Canada's sovereignty is the real issue, trade expert warns
U.S. President Donald Trump's trade war with Canada is ultimately about America's neighbour to the north giving up some of its sovereignty to the United States, according to a trade expert from accounting and consulting giant Pricewaterhousecoopers (PwC). The United States has imposed levies on Canadian steel, aluminum, copper, and certain automotive products. Last week, Trump hit Canada with a 35 per cent tariff on all goods not covered by the Canada-U.S.-Mexico Agreement (CUSMA), which he signed during his first presidency in 2018. That's up from 25 per cent last month. Canada's central bank estimates 95 per cent of non-energy exports are compliant with CUSMA, which is due for renegotiation next year. On Sunday, Dominic LeBlanc, Canada's minister responsible for Canada-U.S. trade, said Prime Minister Mark Carney and Trump are set to speak in the coming days. Michael Dobner, PwC's Canadian national leader of economics and policy practice, warns Trump's now well-worn claim that Canada should become 'the 51st state' is far more than negotiation table bluster. 'There is no real trade issue,' he told Yahoo Finance Canada on Tuesday. 'It's clear [Trump] is not willing to do a deal with Canada, and I think the reason for that is his aspirations regarding Canada are not the same as the EU and Japan.' We haven't really had a lot of luck with Canada. I think Canada could be one where they'll just pay tariffs. It's not really a negotiation.U.S. President Donald Trump speaking to reporters at the White House on July 25 According to Yale University's Budget Lab, 'Canada has borne the brunt of the damage from U.S. tariffs so far,' with its long-run economy 2.1 per cent smaller since the start of 2025, by its analysis. Statistics Canada's June trade figures show Canadian exporters did more business with the United States last month, even as tariffs increased. The federal agency says Canada's trade surplus with the U.S. grew to $3.9 billion in June, from $3.5 billion in May. In June of 2024, that figure was $8.4 billion. RBC assistant chief economist Nathan Janzen expects plunging export volumes to 'substantially subtract' from Canada's gross domestic product growth when second-quarter figures are released later in August. Meanwhile, Trump has repeatedly offered to convert Canada from a sovereign nation to 'the 51st state' during his second term as U.S. president. The move would enhance America's access to critical minerals largely controlled by China, and pave the way for U.S. access to new ocean shipping lanes in Canada's Arctic being created by melting sea ice. 'Full alignment' Dobner sees this as the crux of Trump's vision for future U.S.-Canada relations. He says this includes 'full alignment' on issues involving the economy and defence. 'We will stay Canada. You can look at the EU as a potential model here,' Dobner said. 'That means that Canada would, in this kind of arrangement, lose some of its independence in one way or another.' 'That's the big issue, not trade,' he added. With the clock ticking down to CUSMA's expiration, Dobner says PwC's business clients are scrambling to certify products under the agreement. At the same time, he says prolonged uncertainty between Canada and its largest trading partner has 'frozen' capital spending. Linda Hasenfratz, CEO of Guelph, Ont.-based autoparts manufacturer Linamar ( is on the front lines of the Canada-U.S. trade war. In a recent interview with Yahoo Finance Canada, she said if the U.S. were to apply tariffs to CUSMA-compliant autoparts, it would 'bring the industry to its knees,' as many of these items cross the border multiple times before installation in a finished vehicle. 'The Canada-U.S.-Mexico Agreement has thus far been key to Canada's perceived safety net,' CIBC Capital Markets chief economist Avery Shenfeld wrote in a report last week. 'Canada's edge tied to the USMCA carve-out is also only as durable as the USMCA itself, and it has to be extended by all parties or it expires in 2026. That cloud of uncertainty will hang over capital spending plans in a broad range of Canadian export sectors.' 'Whether any of this lasts will depend on Trump's word,' Shenfeld added. 'We've seen how shaky that foundation can be.' Dobner ultimately sees two paths for Canada: One, suffer the wrath of the Trump administration without a deal in place in the hopes that his successor will favour free trade, while businesses attempt to diversify their customer base. 'The other option is to get to some kind of economic union that is not a full annexation, so to speak, by the United States,' he said. 'Is it possible? Yes, I think it is. It depends how big the hardships that the U.S. administration is willing to put on Canada to push it towards that.' Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
2 hours ago
- Forbes
Why The Power Grid Must Be A Strategic Priority For Businesses
Shaun Walsh, CMO at Peak Nano, is a marketing leader with expertise in grid-enhancing technologies, fusion, nuclear, cybersecurity and AI. When we consider national security risks, cybersecurity, AI, pandemics and military threats dominate the conversation. Yet America's power grid is arguably our biggest vulnerability—a 'silent risk' often invisible to business leaders, policymakers and the public. Every aspect of our economy is based around a functional grid, but we aren't in the driver's seat. Take the recent U.S. tariffs on Canadian goods; in response, Ontario announced a 25% surcharge on electricity exports to several U.S. states, though this plan was suspended. This incident, while disruptive, pales in comparison to the risk of relying on other countries to source and replace grid components. We have the technology to eliminate this risk, but struggle to communicate its severity. Leaders must make the invisible visible—showing how the grid underpins every aspect of our economy so we can work toward establishing resilience. Challenges Facing The Grid Reliance on foreign suppliers has left our grid dangerously exposed. The Department of Energy has warned that America lacks the supply chain for true energy independence. Decades of offshoring have hollowed out domestic manufacturing, limiting our capacity to ramp up production during demand spikes and crises. With rising geopolitical tensions and market volatility, China's ability, in particular, to disrupt America's supply of grid materials grows. Imported technologies could also give hostile actors remote access to our critical infrastructure, threatening national security. If our supply of grid materials is cut off, utilities will lose their ability to maintain and expand our grid. During demand spikes and relentless heatwaves, like the ones breaking records this summer, major grid components like power capacitors, which are essential for grid stability, can't cool down. This triggers chain reactions that can lead to brownouts and dangerous blackouts. As AI data centers force technology companies to become power companies themselves, and industries are expected to begin reshoring manufacturing, our fragile grid can't keep pace. To solve these challenges, businesses and policymakers must incentivize strategic shifts. And to be successful, we need to change the way we talk about our grid. The Power Paradox The push to reshore manufacturing is gaining momentum but faces a fundamental obstacle: power itself. For example, my company, Peak Nano, is expanding U.S. production of advanced capacitor films—essential components of our power grid. As we do so, our biggest barrier isn't capital, workforce or land. It's access to sufficient, reliable electricity. The grid is stretched thin, and new industrial projects face long waits for connections. This is a nationwide bottleneck impacting everything from semiconductor fabs to battery plants and data centers. We can't reshore critical industries without guaranteeing them power. If we don't invest in grid modernization, the promise of an American manufacturing revival will be stalled—not by lack of ambition or innovation, but by the simple inability to plug in and power up. Making The Case For U.S. Innovation Companies producing grid-enhancing technologies (GETs)—including my company—like solid-state transformers, high-frequency switching and advanced capacitor film often struggle to communicate the value of these technologies to utilities, which face limited capital for scaling and upgrading and regulatory challenges for new substations and power lines. For example, the U.S. currently relies completely on imported capacitor film that needs frequent replacement. Domestically made GETs that improve performance and protect our energy security should be a no-brainer, but the grid's complexity and constant operation often make its risks easy to overlook—until it fails. Most assume electricity will always be available and underestimate the serious consequences of outages. Public attention is often focused on more immediate threats, like cyberattacks or conflicts, which have clearer stories. Explaining supply chain vulnerabilities requires simplifying technical details and turning an invisible problem into relatable stories. It's no simple task. Every added degree of heat stress affects hospitals, homes and businesses—the infrastructure we depend on. As climate extremes become the new normal and other demand pressures rise, modernizing grid components with U.S.-made technology is essential. We need boards, customers and partners to advocate for and invest in upgrading the grid. Communications teams must clearly connect grid weaknesses to business impacts like lost revenue, public safety, reputational damage and national competitiveness. With a steady drumbeat of crises, cutting through requires fresh angles, clear analogies and tangible stories. Striking the right tone is hard, but essential. We need to convey urgency without fearmongering, which leaves audiences feeling apathetic. Ten Years To Grid Independence Achieving true grid independence won't happen overnight. But with focused investment and a strategic approach to infrastructure, we can secure our grid within a decade. Secretary Wright and the Department of Energy have called for a comprehensive strategy to scale, stabilize and secure the grid. Here's how business leaders can help: • Audit and diversify your supply chain. Map suppliers for critical components. Identify adversarial country dependencies and invest in domestic alternatives. • Treat power as a strategic asset. When planning expansions, engage with utilities early and advocate for local grid upgrades and on-site energy solutions. Factor power access into site selection and risk planning. • Invest in talent and training. Partner with schools and STEM programs, offering apprenticeships and upskilling to engineers and tradespeople to operate, maintain and repair our grid. • Modernize and future-proof operations. Upgrade to advanced, energy-efficient equipment like capacitor films that can handle higher loads and extreme conditions. Making Power A Strategic Communications Priority America's grid is the backbone of our economy and national security. The threats it faces, from supply chain vulnerabilities to aging infrastructure and escalating demand, are urgent and undeniable. But they present a clear call to action and communications opportunity. Communications leaders have a vital role to play in elevating U.S. energy independence as a strategic priority. By educating stakeholders on reshoring our supply chains, advocating for domestic infrastructure and building strong partnerships with policymakers and industry peers, they can accelerate progress. With effective communication, we can mobilize business and government leaders to treat power as a critical economic asset—protecting our technological and industrial leadership and securing the nation's future. Forbes Communications Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
