Canadian Senate approves law to fast track major resource projects
OTTAWA, June 26 (Reuters) - The Canadian Senate on Thursday formally approved a draft law that would fast track major resource and infrastructure projects such as crude oil pipelines and mines.
Prime Minister Mark Carney says the legislation is needed to help Canada reduce its reliance on the United States.
The law will come into effect when it is signed later in the day by Governor General Mary Simon, the personal representative of King Charles, Canada's head of state.
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BBC News
an hour ago
- BBC News
Trump tariffs: Nike says US trade policies could cost it $1bn
Nike says US President Donald Trump's tariffs on key trading partners could add around $1bn (£730m) to it costs this executives also said the the sportwear giant would cut its reliance on producing goods in China to ease the impact of US trade month, Nike said it would raise prices on some trainers and clothing in the US from early June, weeks after rival Adidas warned it would have to hike the cost of goods due to shares jumped by more than 10% in extended trading after the firm forecast a smaller drop in first quarter revenue than many analysts had expected. The company's earnings for the last three months also topped estimates, despite being its worst quarterly figures for more than three announced fourth quarter revenue of $11.1bn - the lowest since the third quarter of financial officer Matthew Friend said Nike would move some production from China, which was hit with the biggest tariff increases, to other countries in response to Trump's currently manufacturers 16% of Nike footwear that ends up in the US. Mr Friend said that figure would be cut to a "high single-digit percentage range" by the end of May announced sweeping "Liberation Day" tariffs on most goods from countries around the world on 2 April, he suspended most of those tariffs to allow for talks with the affected countries, with one top adviser promising "90 deals in 90 days". The move dropped tariffs to 10%, instead of the far higher rates that goods from many trading partners faced. What tariffs has Trump announced and why? The White House is now facing growing questions about what the president is planning to do about tariffs, as the 90-day pause is due to expire on 9 remarks at the White House on Thursday, Trump maintained that talks were going well, pointing to an agreement reached with China and saying there was another "coming up with India, maybe".But he also warned "We're not going to make deals with everybody"."Some we're just going to send them a letter, say thank you very much. You're going to pay 25, 35, 45%. That's the easy way to do it," he said."My people don't want to do it that way. They want to do some of it, but they want to make more deals than I would do," he Secretary Howard Lutnick later told Bloomberg that the agreement with China formalised terms laid out in trade talks, which included a commitment from Beijing to deliver rare earths minerals used in everything from planes to wind turbines. Treasury Secretary Scott Bessent has previously raised the possibility that Trump could extend the deadline, depending on how talks are going. On Thursday, White House spokesperson Karoline Leavitt said both that the deadline was "not critical" and that Trump was prepared to present countries with "deals" that would set new tariff rates. The US and China announced an agreement earlier this month aimed at ensuring US supply to critical magnets and rare earths, after concerns about access had risked re-igniting trade tensions between the two economic the White House on Thursday, Trump said he had "signed" a deal with China without giving further details. "The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement," a White House official said between the two sides was nearly shut down after Trump raised tariffs and China hit back in a barrage of tariffs in April that had nearly shut down trade between the two countries. The US and China subsequently agreed to reduce - but not eliminate - those tariffs.
Daily Mail
an hour ago
- Daily Mail
Trump has 'outsmarted all of us' admits backpedaling economist who bashed President's bold plan
A world-renowned economist has changed his tune on President Donald Trump's tariffs. Torsten Sløk, a chief economist at Apollo Global Management, posted a new note admitting that his initial reaction to the policy may have been wrong. 'Maybe the administration has outsmarted all of us,' he wrote. The admission comes just months after Sløk warned the tariffs would be 'painful' and economically destabilizing. Experts speaking to warned that Americans should take his note with a grain of salt. But now, he's framing the President's policy as a clever long-game — one that invites global negotiation while increasing federal revenue. In the note, Sløk outlined a potential scenario: the White House could maintain its current tariff rates — 10 percent on most imports, 30 percent on Chinese goods — and give trade partners a year to negotiate with the White House. Extending the current 90-day pause on new tariffs, he argued, would give American companies time to plan ahead and could help stabilize markets. 'This would seem like a victory for the world and yet would produce $400 billion of annual revenue for US taxpayers,' he added. The timing is key. Trump's 90-day pause on new tariffs, announced in April, is set to expire on July 9. Without an extension, the tariffs would immediately increase, with billions of dollars worth of products suddenly incurring more taxes. But if the President extends the pause but keeps tariffs where they are, Sløk says the policy could offer clarity for companies and leverage in negotiations. Sløk's sudden, tepid support for the tariffs is an about-face. He initially criticized the import taxes, saying they threatened business stability, Wall Street's record highs, and the stability of US treasury bonds. 'The short-run effects of a trade war [are] certainly painful,' the economist told Yahoo Finance in February. And not everyone is convinced. Neil Saunders, a retail expert at GlobalData, warned that they will mostly impact American consumers. 'Tariffs, at any level, increase the cost of doing business,' he told 'If tariff rates remain at current levels, prices should only increase modestly – although these hikes will come off the back of years of pretty hefty inflation.' Torsten Sløk, initially a skeptic of Trump's tariff policies, has become more optimistic about America's financial future He added: 'The problem is, no one knows what will happen to tariffs. The policy has been erratic and remains uncertain.' Trump has also been ramping up pressure on both domestic and global fronts while trying to start negotiations with nearly every country around the world. At home, he's pushing Republicans to pass the sweeping 'Big Beautiful Bill' by July 4 — a legislative package that could outline his domestic agenda, but has drawn criticism from some of his most prominent allies. Elon Musk, the biggest donor in the 2024 Presidential election, called it a 'disgusting abomination.' At the same time, the President has escalated his rhetoric on Iran since America bombed the country's nuclear facilities. In a Sunday night post on Truth Social, he wrote: 'It's not politically correct to use the term, "Regime Change," but if the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn't there be a Regime change??? MIGA!!!' As the tariff deadline approaches, the biggest unknown remains whether Trump is bluffing on country-by-country negotiations — or if the higher import taxes are here to stay.
Reuters
an hour ago
- Reuters
Nassau Street Partners Unlocks Strategic Capital in the Mid-Market
NEW YORK, NY, June 26, 2025 (EZ Newswire) -- Nassau Street Partners, opens new tab has launched a new capital distribution program designed to bring curated strategic capital into mid-market deals from sourcing through close in under 120 days — signaling a major departure from the VC-first model that has long defined private markets. The initiative, which integrates sector-specific investor mapping, faster prep cycles, and precision outreach, brings raise packages in front of several thousand investors in the space of only weeks. This release comes as a growing number of companies raising $1 million to $50 million are abandoning the traditional venture pipeline and turning to strategic capital — family offices, operator-backed funds, and sector-aligned platforms — for speed, flexibility, and deeper alignment. For years, venture capital defined the private market narrative: big checks, fast growth, and term sheets delivered over coffee. But in the post-ZIRP world, mid-market companies raising $1 million to $50 million are finding a different type of investor leading their rounds: strategic capital. Family offices, small strategics, and non-institutional capital providers are quietly displacing traditional VCs in many mid-sized raises. The reason is not just market cyclicality. It's structural. Strategics Aren't New — But Their Role Has Changed Strategic capital traditionally referred to large corporate balance sheets chasing acquisitions. Today, that definition has evolved. The new 'strategics' are smaller operating businesses, family-backed platforms, and high-net-worth groups with sector focus and hands-on operating DNA. 'These investors used to wait until a company had scale or synergies,' said Juan Moreno, managing partner at Nassau Street Partners. 'Now, they're showing up earlier, not because they want control, but because they want alignment.' The alignment matters. Strategics bring more than capital. They bring channels, contracts, integration opportunities, and long-term positioning that pure financial players often can't. For companies seeking steadier, longer-term growth relative to traditional VCs, that's a better fit. The Mid-Market Isn't Built for Venture Logic Companies raising $1 million to $50 million are too large for angels and too small or non-consensus for institutional growth funds. Many don't fit the VC mold: they may be capital-intensive, slower-growing, or not reliant on winner-take-all dynamics. But that doesn't mean they aren't strong businesses. 'These are real companies with customers, revenue, and product-market fit,' said Saul Friend, director at Nassau Street Partners. 'But when they approach traditional VCs, the answer is often, 'Interesting, but not for us.'' Venture capital is structurally designed to seek out hyper-growth, category-defining bets that return 100x. Mid-market operators seeking $8 million to expand distribution or acquire a competitor often don't check that box. That's where strategic capital steps in. Faster Closes, Higher Certainty, Longer Horizon Strategic investors don't rely on Monday morning partner meetings. They move faster, underwrite from conviction, and are more flexible on structure. In recent transactions, Nassau Street Partners has seen term sheets land in under 30 days from first contact, with far less volatility than traditional VC processes. More importantly, strategic capital tends to be patient. Unlike venture funds that need to return capital on a fixed timeline, family offices and platform strategics often hold assets indefinitely or recycle capital internally. A Distribution Shift Driving the Trend Another major factor: access. Traditional venture firms are increasingly filtered, concentrated, and reactive. A mid-market raise reaching 15–20 partners via intros isn't enough. Distribution matters. Nassau's model reflects this shift. The firm distributes high-quality materials to thousands of pre-mapped investors, family offices, strategics, and non-institutional allocators, across the U.S., Europe, Middle East and Asia. It focuses less on 'warm intros' and more on targeted velocity. 'The best capital doesn't just show up. You have to reach it, and you have to speak its language,' said Juan Moreno. That means tighter positioning, less pitch theater, and faster decision loops. Founders who engage early and frame their business with strategic ROI in mind consistently get more traction than those waiting for traditional VCs to circle back. Case in Point Recent transactions illustrate this trend clearly: None of these would have fit neatly into a traditional VC pipeline. All found stronger alignment through distributed strategic capital. The Strategic Capital Advantage Strategics bring more than money. They bring context. They understand operating constraints, capital intensity, regulatory risk, and long-term margins. They aren't chasing unicorns — they're building real businesses. And in a market where capital is still abundant but increasingly fragmented, founders need more than a good pitch. They need a distribution strategy that reaches the right investors, not just the loudest ones. Nassau Street Partners is built around that belief. About Nassau Street Partners Nassau Street Partners is a modern capital advisory firm that helps companies and sponsors raise $1 million to $50 million from global family offices, strategic investors, and high-net-worth individuals. Based on Wall Street and operating internationally, Nassau delivers institutional-grade execution at startup speed, combining targeted outreach with capital markets expertise to drive outcomes that traditional firms can't. For more information, visit opens new tab. Media Contact Juan Morenolegal@ ### SOURCE: Nassau Street Partners Copyright 2025 EZ Newswire See release on EZ Newswire
