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National Observer
29 minutes ago
- National Observer
More Republican lawmakers demand legal action over Canadian wildfire smoke
More Republican lawmakers are calling out Canada because of wildfires sending smoke billowing across the international border into their states. "If Canada can't get these wildfires under control, they need to face real consequences," said Wisconsin state Rep. Calvin Callahan in a news release Wednesday. "We won't sit back while our air becomes a health hazard." Callahan joined other Republican state lawmakers from Iowa, Minnesota and North Dakota in filing a formal complaint against Canada to U.S. Environmental Protection Agency Administrator Lee Zeldin and the International Joint Commission, a binational organization that resolves disputes on shared water and air quality. The Republican lawmakers called for an investigation of Canada's wildfire management practices and for potential remedies under international law. Callahan joins a chorus of Republican politicians at other levels of government who have been voicing concerns about Canada's wildfires. Michigan Rep. Jack Bergman sent a letter to Canadian Sen. Michael MacDonald on Monday calling for stronger forest management policies and more accountability from Canadian officials. Both are members of the Canada—United States Inter-Parliamentary Group. "It is critical that forest management and wildfire mitigation be treated as a bilateral environmental and public health priority," the letter said. "If Canada can't get these wildfires under control, they need to face real consequences," said Wisconsin state Rep. Calvin Callahan in a news release Wednesday. "We won't sit back while our air becomes a health hazard." Michigan Rep. John James sent a letter to Prime Minister Mark Carney last week saying his constituents are choking on toxic wildfire smoke. Citing a letter other Republican members of Congress sent to Canada's Ambassador to the U.S. Kirsten Hillman in July, James said that "since then, rather than progress, we have seen escalation." James said Manitoba Premier Wab Kinew's declaration of a second state of emergency in that province "confirmed what many Americans have feared: that Canada is not doing nearly enough to stop these fires before they start." The American lawmaker also criticized Kinew's comments in response to the initial letter. "This is what turns people off from politics," Kinew said in July. "When you have got a group of congresspeople trying to trivialize and make hay out of a wildfire season where we've lost lives in our province, there's no place for that in politics," the premier added. "If you can't get likes on Instagram from your own skills as a politician, don't bother trying to throw other people under the bus during a state of emergency." A husband and wife were killed by a fast-moving wildfire northeast of Winnipeg in May and thousands have been evacuated from their communities. James said Kinew's comments dismiss the health impacts the wildfire smoke has on neighbouring states. The Republican said the smoke amounts to a public health emergency "and it is actively damaging the U. S. — Canada relationship." The increasing pressure from Republicans comes as the bilateral relationship between the two countries remains tense. On Aug. 1, U.S. President Donald Trump boosted tariffs on Canadian goods to 35 per cent after a new security and economic agreement failed to materialize ahead of the president's deadline. The duties do not apply to goods compliant with the Canada-U.S.-Mexico Agreement on trade. Canada is also being hit with Trump's steel, aluminum, copper and automobile tariffs. Natural Resources Canada said in July that wildfires are a global problem caused by the effects of climate change, including prolonged drought. The president has called climate change a "hoax" and his administration dismissed all of the scientists working on a flagship climate report. Many Republicans point to the 2023 Canadian wildfire season, which was the worst on record. Fires blazing across the country that year sent thick smoke into the United States and even across the Atlantic Ocean to northern Europe. Canadian officials have warned that this year's wildfire season could shape up to be the second-worst on record. The Canadian Interagency Forest Fire Centre, a non-profit owned and operated by federal, provincial and territorial wildland fire management agencies, said on its website that 744 active wildfires were burning across Canada on Wednesday. U.S. Ambassador to Canada Pete Hoekstra said Tuesday that Canada's recent wildfires offer a "stark reminder" of the countries' shared challenges. In a statement shared by the U.S. Embassy, Hoekstra said the United States and Canada have "a long history" of supporting one another in times of crisis. "Canadians stood with us during the tragic California wildfires earlier this year, and we are committed to standing with Canada now," he said. Wildfires burning across multiple American states, including California, have been sending smoke into nearby communities.
Globe and Mail
29 minutes ago
- Globe and Mail
CEMATRIX Announces 2025 Second Quarter Financial Results
CALGARY, Alberta, Aug. 06, 2025 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) (" CEMATRIX" or the " Company") a specialty construction contractor that produces cellular concrete solutions on site and is a leading manufacturer and supplier of cellular concrete in North America announced the release of its consolidated financial results for the second quarter ended June 30, 2025. 'We are extremely proud of the quarter, the best Q2 in the history of our Company,' said Randy Boomhour, President and CEO of CEMATRIX. 'Our second quarter revenues were $10.6 million versus $6.4 million last year, and we achieved higher margins which resulted in an adjusted EBITDA of $2.4 million for the quarter.' 'This past quarter generated cash flow from operating activities (before working capital adjustments) of $2.4 million and we ended the quarter with a cash position of $8.6 million,' stated Ms. Marie-Josée Cantin, CFO of CEMATRIX. 'We used some cash for working capital purposes, but we expect this to reverse later in the year as we collect our receivables.' 'In addition, under our previously announced NCIB we were able to purchase over 700,000 shares of CEMATRIX and as a result for the first time in our history, we reduced our outstanding share count. CEMATRIX continues to have a very healthy balance sheet with low leverage, and we remain in a strong financial position to execute on our strategy,' said Ms. Cantin. 'We remain focused on executing our business strategy, growing our Company by delivering on quality, on time, on budget solutions to our customers geotechnical construction challenges. The key message looking forward for our stakeholders is that we expect to be very busy in the third quarter of this year and we continue to remain on track for a record year,' concluded Mr. Boomhour. The following are the business and financial highlights for the second quarter: Business highlights for the quarter: Announced the Company's notice of intention to implement a normal course issuer bid 'NCIB' (April 15, 2025) Announced $9.7 million in new contracts (April 17, 2025) Announced $5.7 million in new contracts (May 21, 2025) Business highlights subsequent to the quarter: Announced start of North Carolina project (July 9, 2025) Announced $5.1 million in new contracts (July 21, 2025) Summary financial results: Three months ended June 30, Six months ended June 30, ($millions) 2025 2024 Change % 2025 2024 Change % Revenue 10.6 6.4 4.2 66 % 17.3 14.9 2.4 16 % Gross Margin 4.1 1.1 3.0 273 % 5.6 3.6 2.0 56 % Gross Margins % 39 % 17 % 22 % -- 32 % 24 % 8 % -- SG&A 2.4 2.2 0.2 9 % 4.5 4.4 0.1 2 % Operating Income 1.8 (1.1) 2.9 264 % 1.1 (0.8) 1.9 238 % Adjusted EBITDA 2.4 (0.5) 2.9 580 % 2.4 0.5 1.9 380 % Cashflow from Operations 2.4 (0.5) 2.9 580 % 2.3 0.4 1.9 475 % Cashflow from Operations is before working capital adjustments. Adjusted EBITDA is a non-GAAP measure. The Company defines and provides the calculation for adjusted EBITDA in its MD&A. Second quarter financial results webinar Management will host a webinar at 1:00 p.m. ET on Thursday, August 7, 2025, to discuss CEMATRIX's second quarter financial results, provide a corporate update and conclude with a question-and-answer session from online participants. Register in advance for this webinar: After registering, you will receive a confirmation email containing information about joining the webinar. About CEMATRIX CEMATRIX is a specialty construction contractor that produces cellular concrete solutions on site. Cellular concrete is a flowable, self-leveling, cement-based material with insulating properties. CEMATRIX provides customers with cost effective, innovative solutions to tough geotechnical construction challenges. Applications for cellular concrete include lightweight engineered fill, MSE & retaining wall fill, lightweight insulating road subbase, flowable self compacting fill, pipe & culvert abandonments, tunnel & annular grout, tunnel & shaft backfills, underwater / tremie fills, and shallow utility & foundation insulation. CEMATRIX is an early-stage growth Company with significant revenue, positive EBITDA, positive cashflow from operations, a very healthy balance sheet, and a strong team in place. The Company's wholly owned operating subsidiaries include CEMATRIX (Canada) Inc. ('CCI'), Chicago based MixOnSite USA Inc. ('MOS') and Bellingham based Pacific International Grout Company ('PIGCO'). For more information, please visit our website at Cautionary statement regarding forward looking statements This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by the Company, including satisfaction of regulatory requirements in various jurisdictions and the Company's anticipated use of the net proceeds of the Offering. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, which could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release. Jeff Walker, The Howard Group – Investor Relations Phone: (888) 221-0915 or (403) 221-0915 jeff@
Globe and Mail
29 minutes ago
- Globe and Mail
TD Bank Group provides insurance catastrophe information
TORONTO , /CNW/ - TD Bank Group ("TD" or the "Bank") (TSX: TD) (NYSE: TD) announced today that it expects catastrophe claims of approximately $36 million after reinsurance and before tax to be reflected in the Bank's Wealth Management & Insurance segment's third-quarter results. Catastrophe claims are insurance claims that relate to any single event that occurred in the relevant fiscal quarter, for which the aggregate insurance claims are equal to or greater than an internal threshold of $5 million before reinsurance. The Bank's internal threshold may change from time to time. The total amount of catastrophe claims presented reflects the estimated pre-tax cost of these claims net of recoveries from related reinsurance coverage and, when applicable, includes the cost of reinsurance reinstatement premiums. The total amount of catastrophe claims is included in Insurance service expenses and amounts related to reinsurance coverage are included in Other income (loss) on the Bank's Consolidated Statement of Income. Additional information about the Bank's insurance catastrophe claims (including catastrophe claims, net of reinsurance for the comparative quarter) is available on its website here: Quarterly Earnings Announcement TD will release its third-quarter financial results and host an earnings conference call on Thursday, August 28, 2025 . Caution Regarding Forward-Looking Statements From time to time, the Bank (as defined in this document) makes written and/or oral forward-looking statements, including in this document, in other filings with Canadian regulators or the United States (U.S.) Securities and Exchange Commission (SEC), and in other communications. In addition, representatives of the Bank may make forward-looking statements orally to analysts, investors, the media, and others. All such statements are made pursuant to the "safe harbour" provisions of, and are intended to be forward-looking statements under, applicable Canadian and U.S. securities legislation, including the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements made in this document, the Management's Discussion and Analysis ("2024 MD&A") in the Bank's 2024 Annual Report under the heading "Economic Summary and Outlook", under the headings "Key Priorities for 2025" and "Operating Environment and Outlook" for the Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking segments, and under the heading "2024 Accomplishments and Focus for 2025" for the Corporate segment, and in other statements regarding the Bank's objectives and priorities for 2025 and beyond and strategies to achieve them, the regulatory environment in which the Bank operates, and the Bank's anticipated financial performance. Forward-looking statements are typically identified by words such as "will", "would", "should", "believe", "expect", "anticipate", "intend", "estimate", "forecast", "outlook", "plan", "goal", "target", "possible", "potential", "predict", "project", "may", and "could" and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. By their very nature, these forward-looking statements require the Bank to make assumptions and are subject to inherent risks and uncertainties, general and specific. Especially in light of the uncertainty related to the physical, financial, economic, political, and regulatory environments, such risks and uncertainties – many of which are beyond the Bank's control and the effects of which can be difficult to predict – may cause actual results to differ materially from the expectations expressed in the forward-looking statements. Risk factors that could cause, individually or in the aggregate, such differences include: strategic, credit, market (including equity, commodity, foreign exchange, interest rate, and credit spreads), operational (including technology, cyber security, process, systems, data, third-party, fraud , infrastructure, insider and conduct), model, insurance, liquidity, capital adequacy, compliance and legal, financial crime, reputational, environmental and social, and other risks. Examples of such risk factors include general business and economic conditions in the regions in which the Bank operates; geopolitical risk (including policy, trade and tax related risks and the potential impact of any new or elevated tariffs or any retaliatory tariffs); inflation, interest rates and recession uncertainty; regulatory oversight and compliance risk; risks associated with the Bank's ability to satisfy the terms of the global resolution of the investigations into the Bank's U.S. Bank Secrecy Act (BSA)/anti-money laundering (AML) program; the impact of the global resolution of the investigations into the Bank's U.S. BSA/AML program on the Bank's businesses, operations, financial condition, and reputation; the ability of the Bank to execute on long-term strategies, shorter-term key strategic priorities, including the successful completion of acquisitions and dispositions and integration of acquisitions, the ability of the Bank to achieve its financial or strategic objectives with respect to its investments, business retention plans, and other strategic plans; technology and cyber security risk (including cyber-attacks, data security breaches or technology failures) on the Bank's technologies, systems and networks, those of the Bank's customers (including their own devices), and third parties providing services to the Bank; data risk; model risk; fraud activity; insider risk; conduct risk; the failure of third parties to comply with their obligations to the Bank or its affiliates, including relating to the care and control of information, and other risks arising from the Bank's use of third-parties; the impact of new and changes to, or application of, current laws, rules and regulations, including without limitation consumer protection laws and regulations, tax laws, capital guidelines and liquidity regulatory guidance; increased competition from incumbents and new entrants (including Fintechs and big technology competitors); shifts in consumer attitudes and disruptive technology; environmental and social risk (including climate-related risk); exposure related to litigation and regulatory matters; ability of the Bank to attract, develop, and retain key talent; changes in foreign exchange rates, interest rates, credit spreads and equity prices; downgrade, suspension or withdrawal of ratings assigned by any rating agency, the value and market price of the Bank's common shares and other securities may be impacted by market conditions and other factors; the interconnectivity of financial institutions including existing and potential international debt crises; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by the Bank; and the occurrence of natural and unnatural catastrophic events and claims resulting from such events. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results. For more detailed information, please refer to the "Risk Factors and Management" section of the 2024 MD&A, as may be updated in subsequently filed quarterly reports to shareholders and news releases (as applicable) related to any events or transactions discussed under the headings "Significant Events", "Significant and Subsequent Events" or "Update on U.S. Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Program Remediation and Enterprise AML Program Improvement Activities" in the relevant MD&A, which applicable releases may be found on All such factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements, should be considered carefully when making decisions with respect to the Bank. The Bank cautions readers not to place undue reliance on the Bank's forward-looking statements. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2024 MD&A under the headings "Economic Summary and Outlook" and "Significant Events", under the headings "Key Priorities for 2025" and "Operating Environment and Outlook" for the Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking segments, and under the heading "2024 Accomplishments and Focus for 2025" for the Corporate segment, each as may be updated in subsequently filed quarterly reports to shareholders and news releases (as applicable). Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. The Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf, except as required under applicable securities legislation. About TD Bank Group The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.9 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank ®, TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth ( Canada ), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 18 million active online and mobile customers. TD had $2.1 trillion in assets on April 30, 2025 . The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.
