4 Canadian basketball stars will be playing in the NBA finals
Four Canadian basketball players will be facing off in Thursday's NBA Finals: Shai Gilgeos-Alexander, Lugenz Dort, Benedict Mathurin and Andrew Nembhard. CBC's Dwight Drummond discusses the success of Canadian basketball players this season with Claude Nembhard, the CEO of the Ontario Basketball Association.
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CBC
24 minutes ago
- CBC
$33B in construction spending for Labrador megaprojects is welcome news for industry
While shovels aren't yet in the ground and no labour contracts are signed, billions of dollars in planned construction spending for a new megaproject has many optimistic about the positive impact the new Churchill Falls deal will have on Newfoundland and Labrador. A memorandum of understanding for Churchill Falls hydroelectric plant and other projects was announced in December and is set to be finalized in April 2026. It will require approximately $33 billion in construction contracts between Churchill Falls and Gull Island. "Thirty-three billion [dollars'] worth of construction is significant, no question," Trades N.L. executive director Bob Fiander told reporters while attending Energy N.L.'s annual conference in downtown St. John's earlier this week. Stéphane Jean, a senior director with Hydro-Quebec, says construction on Gull Island's temporary infrastructure, like the work camps and roads, will begin next year, while construction at the Churchill Falls extension will begin in 2029. Fiander says his members need this work. "We're about 70 per cent unemployed," he said. "We're looking forward to getting shovels in the ground and that's important for us because, you know, when our members are not working, they're not getting paid. They're looking elsewhere." While there haven't been any signed labour agreements, he says he's looking forward to what lies ahead. Fiander says he also welcomes the news from Prime Minister Mark Carney on fast-tracking projects deemed "nation-building." "Fortunately for Newfoundland and Labrador, we have a number of projects that could be nation-building projects," said Fiander. 'Optimistic about the future' Energy N.L. CEO Charlene Johnson says the investment will mean a lot of work for her members through construction, environmental work and building transmission lines. "That's very exciting for our members because really we're at a little bit of a lull in the industry now and I'm very optimistic about the future," she said. Johnson added Bay du Nord won't have a decision on its future for some time, making the Churchill Falls deal the next big project in the province. She says Energy N.L. members will have to be ready soon for work on the camp, roads and bridges needed in Labrador. "They said they want to move quickly because all of this has to happen in very short order if they're going to have this power in place within 10 years," she said. Brad Forsey, director of business development for the Cahill Group and vice-chair of Energy N.L. board of directors, says there's going to be a lot of long-term construction work ahead of the sector. "It's a great opportunity for us to be involved from the beginning all the way to the end. We've been involved in similar type projects in this industry and adjacent industries. And we look forward to the opportunities that we have here in front of us," he said. Forsey agreed with Johnson that these projects are important. "There is a bit of a lull right now, but we need to make sure that we're ready and we need to communicate and show to them that we're ready."
Globe and Mail
36 minutes ago
- Globe and Mail
This AI ETF Could Turn $10,000 Into $40,000 by 2035
There's no denying it -- artificial intelligence (AI) is likely going to have a profound impact on the world over the long term. Entire industries could be altered. It's no wonder management teams are increasingly focused on ways to better position themselves for long-term success. From an investment perspective, perhaps it's starting to make sense that your portfolio should have some exposure to AI. Luckily, investors don't necessarily need to pick individual stocks if they want to benefit from the trend. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » There's one top AI exchange-traded fund (ETF) that could turn $10,000 into $40,000 by 2035. Continue reading to learn more about how to supercharge your portfolio for future success. Looking at the past and future In the last 10 years, the Invesco QQQ Trust (NASDAQ: QQQ) has generated a total return of 414% (as of June 3). This means that a $10,000 investment made in June 2015 would be worth $51,400 today. I don't think anyone in their right mind would complain with that kind of fantastic result. Even better, the expense ratio of 0.20% is a minimal cost to bear for that type of gain. There's no guarantee that past returns will repeat themselves going forward. Let's assume that there is a slowdown. Even so, I wouldn't be surprised if investors who put the same $10,000 in this ETF today see a fourfold gain in the next decade, resulting in a 15% annualized return. There's a lot of talk about how the stock market's current valuation is expensive. But consider that this has been the general narrative for a very long time. Yet that hasn't prevented equity markets from marching higher. The rise of passive investing, ongoing economic expansion, and dominance of tech-driven enterprises have all played a part. I'm fairly confident these trends will continue. Diversified exposure to artificial intelligence The Invesco QQQ Trust can be considered a top AI ETF, even though it contains 100 stocks in total. There is heavy concentration among the top positions, many of which have a meaningful AI focus. The so-called hyperscalers, most notably Amazon, Microsoft, and Alphabet, combined represent 18.9% of the Invesco QQQ Trust's asset base. These dominant companies have leading cloud computing platforms that offer a range of AI tools to their customers. They're collectively planning to spend hundreds of billions of dollars on capital expenditures in 2025 in an effort to bolster their technical infrastructure to better position themselves for an AI future. We can't forget about Nvidia, the biggest beneficiary thus far of the AI boom. It provides the graphics-processing units that power AI data centers, posting unbelievable revenue and profit growth. It's the second-largest holding in the Invesco QQQ Trust. Other top positions are Apple, Meta Platforms, Netflix, and Tesla. There's no doubt that AI has and will keep impacting these businesses in some way as well. Play the long game Investing correctly means having patience. While the AI craze has definitely made some investors rich in a short period of time, that's the wrong mindset to have. When buying the Invesco QQQ Trust, it's critical to keep the attention on the next decade and beyond. AI has the ability to revolutionize many parts of our economy, and this will all take time to play out. As of this writing, the Invesco QQQ Trust trades 2% off its peak. It might be tempting to wait for a bigger pullback to put money to work. However, I believe this is a flawed approach. It's a smart idea to invest early and often, letting compounding work its magic. Investing in this top AI ETF could work wonders for your portfolio between now and 2035. Should you invest $1,000 in Invesco QQQ Trust right now? Before you buy stock in Invesco QQQ Trust, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Invesco QQQ Trust wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor 's total average return is997% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Neil Patel has positions in Invesco QQQ Trust. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Netflix, Nvidia, and Tesla. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
CTV News
36 minutes ago
- CTV News
U.S. tourism is trying to woo back Canadian travellers. Is it working?
Canada's airports were bustling in April, but fewer passengers were flying to the United States, a sign that efforts by American destinations to win back Canadian tourists may be falling flat. A new Statistics Canada report found that for the third month in a row, the number of travellers screened to fly from Canada to the U.S. dropped compared to the same time last year. Meanwhile, traffic was up for both domestic and international travel. Canadian airlines appear to be pivoting in response. Air Canada recently announced its 'largest winter expansion,' with 13 new routes and 16 per cent more seat capacity to Latin America. The carrier is now offering more than 55 daily flights and over 80,000 weekly seats to the region. WestJet says it's adjusting, too. 'In response to shifting demand, WestJet did recently reallocate aircraft from some routes between Canada and the U.S. toward connectivity and frequency within Canada, internationally between Canada and Europe, and between Canada and popular sun destinations,' the airline said in a written statement to 'WestJet remains engaged with industry partners in conversations focused on lessening long-term impacts on travel and tourism — industries that we know rely on the sustained confidence and movement of people on both sides of the Canada-U.S. border.' 'California Loves Canada' In an effort to stifle the drop in visitors, some U.S. states have rolled out targeted campaigns aimed specifically at Canadians. Visit California, a nonprofit corporation formed to market California as a desirable tourism destination, teamed up with Expedia to launch the 'California Loves Canada' campaign in May. Organizers say it's been 'resonating with Canadians.' 'As of May 31, Canadian travellers have booked rooms at 1,740 California hotels that are offering exclusive deals for Canadians,' Caroline Beteta, president and CEO of Visit California, told in an emailed response. 'With most bookings set for travel this summer, we anticipate seeing a real uptick in Canadian arrivals as the year plays out.' Beteta says the campaign is driven by California-based industry partners offering special discounts to Canadians, adding the feedback has been positive. According to Beteta, saw traffic increase by more than five per cent in May, with engagement up nearly 15 per cent. 'Click-through rates from organic search are a whopping 2,800 per cent higher than what we typically see,' she added. Atlantic Canada seeing tourism spike Despite these efforts, one travel agent told that a portion of the market is still hesitant about travelling to the U.S., due to concerns about the border, politics, or just the general vibe. Jason Sarracini, founder and CEO of Landsby, a Canadian domestic travel website, says there may be some cross-border traffic in upstate New York, but his company isn't 'seeing anything meaningful.' However, Sarracini did say one spot within Canada is getting lots of attention. 'Atlantic Canada is the one that's really stood out this year,' Sarracini said. 'It's that destination, which is pretty intimate, gives you a really good sense of the people and the flavour, and is not as expensive as the West Coast and the Rockies in the summer.' Sarracini also stressed the growing importance of Indigenous tourism, which he says is attracting more interest from both Canadian and American travellers. '(Americans) don't necessarily want it to be their entire trip, but they do want components of that educational side, especially those who have maybe been to Canada before,' he said. Calling for accessible Canadian travel Julie Smigadis, owner of Travel Our World agency, says her U.S.-bound bookings have slowed in recent months, with some would-be clients choosing to cancel outright. 'I had a large anniversary trip to Disney cancelled,' she said in a video interview with 'It was an (LGBTQ2S+) couple and they just felt very unsafe and kind of not very welcome. They ended up rebooking into Mexico, even though they lost a little bit of money on the file.' Instead, Smigadis says more of her clients are opting to explore Canada, especially destinations like Banff, Alta., Vancouver, Newfoundland and Labrador and Prince Edward Island. But affordability is a challenge, even for domestic trips. 'The pricing and the availability is so crazy,' Smigadis said. 'It's unfortunate because, especially as a travel agency, I do want to show off this gorgeous country of ours and especially in this moment where we come together as Canadians.' She says greater cooperation between governments, airlines and hotels is needed to make Canadian travel more accessible. 'I wish the Canadian companies, Canadian airlines, and Canadian hotels would incentivize Canadians to stay within Canada,' she said. 'There has to be some way for us to make it more accessible — for our dollars to be used here as opposed to going abroad.' Data from Expedia supports the broader trend. According to the company's first-quarter earnings call, Canada's inbound travel to the U.S. was down nearly 30 per cent in the first quarter. 'While we've been seeing recent fluctuations in U.S. search activities, Canadians are still eager to travel and have been rediscovering all the beauty Canada has to offer,' said Melanie Fish, head of Expedia Group brands public relations in the company's Summer Travel Outlook. 'This is a very emotional thing' Some American tourism operators say they're feeling the downturn directly. 'This isn't something you solve with a few dollars off. This is a very emotional thing,' said Paul Dame, owner of Bluff Point Golf Resort in Plattsburgh, N.Y., in a video interview with 'The stuff that's being said is just downright not nice to Canadians, and unfortunately, that has definitely put a damper on our business.' Dame's resort, just an hour south of Montreal, typically relies on Canadian visitors. But those numbers are down sharply this year. 'The start of the season, April and May, we were 30 per cent behind last year,' Dame said. 'Lodging reservations were 22 per cent down … I would say about 25 per cent of our regular guests have decided not to return.' He said he's personally reached out to dozens of long-time customers, many of whom have visited for more than a decade. 'They said, 'We love you, we love Bluff Point, but we're not going to be coming back to the United States this year,'' he said. 'That was 49 out of about 130 groups.' The resort is still seeing some large group bookings go through, but individual golfers and day trippers have dropped off drastically. 'We would usually see 25 to 30 cars a day in the parking lot. Now we're seeing one, maybe two,' Dame said, adding the daily golfer is second-guessing a trip to the U.S. Despite the challenges, Dame said he's working on a new outreach video to reconnect with Canadians. 'I hope that we at least start to move in the right direction, so that we can rebuild the greatest cross-border relationship anywhere in the world,' he said. 'We've been friends and partners for decades … it would be great for both sides to just move forward, make amends, and hopefully continue a friendship that was a long time made.'
