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Tariffs on steel, aluminum and autos starting to take a toll on industry

Tariffs on steel, aluminum and autos starting to take a toll on industry

CTV News09-05-2025

Tariffs on steel, aluminum and autos starting to take a toll on industry
Dennis Darby, CEO of Canadian Manufacturers & Exporters, joins CTV News to discuss job losses in the manufacturing sector and what's driving the trend.

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GME Earnings: GameStop Reports Mixed Financial Results and 4,710 Bitcoin
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GameStop's (GME) share price is down about 5% after the video game retailer reported mixed first-quarter financial results. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The Texas-based company announced earnings per share (EPS) of $0.09, which topped the $0.04 consensus expectation of analysts. However, revenue for the quarter came in at $732.4 million, which was below the consensus Wall Street estimate of $754.2 million. The company also reported an improved operating margin of -1.5%, which was up from -5.7% in the same quarter of 2024. GameStop's free cash flow at the end of the quarter totaled $189.6 million, which was a big improvement from negative -$114.7 million a year earlier. GameStop's profitability. Source: Main Street Data Bitcoin Purchases Along with its financial results, GameStop disclosed that it bought 4,710 Bitcoins (BTC) between May 3 and June 10 of this year. It's not known what the average purchase price of the Bitcoin was. However, GameStop's BTC holdings are currently worth $516.6 million based on the current price of Bitcoin. GameStop announced previously that it planned to begin buying and holding cryptocurrencies, adopting a similar playbook to that of software developer turned serial BTC acquirer Strategy (MSTR). GameStop has said it plans to use its excess cash to make investments in risk assets such as crypto and stocks. The company made its first Bitcoin investment in May of this year. Is GME Stock a Buy? Currently, only one Wall Street analysts offers a rating and price target on GME stock. So instead, we'll look at the stock's three-month performance. As one can see in the chart below, GameStop's share price has gained 33% over the last 12 weeks.

Mooseheads asking city for $1.6M to expand Dartmouth training facility
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The Halifax Mooseheads are asking Halifax regional council for up to $1.625 million to expand the training facility they lease at the RBC Centre in Dartmouth. Mooseheads general manager Cam Russell and Elizabeth Powell of architecture firm Fathom Studio outlined plans for a proposed 4,700-square-foot addition at a standing committee meeting on Wednesday. They said the project at the municipally owned centre would benefit both the team and the public. Russell, who has been with the Quebec Maritimes Junior Hockey League organization for 25 years, told the committee the current training facility is challenging to use. "Our gym isn't big enough, we have to work out in two or three different groups," he said. "We have a lounge that only seats three to four players. We don't have a wellness area that would be good for the kids, for their mental health and their well-being." Russell told the committee a state-of-the-art facility would enhance the Mooseheads' ability to attract top talent, putting the team on the same level as NCAA teams, universities and colleges. Russell said the proposed expansion would include a high-performance gym equipped with hockey-specific training gear, a 21-metre turf training track, and a dedicated shooting room for skill development, which he said would be a first in the QMJHL. The plans would also incorporate a sauna, steam room and cold plunge recovery area, a more spacious player lounge and a publicly accessible, barrier-free washroom. The timeline for the project is about six months for the design and eight months for construction, said Powell, the project architect. Russell said the Mooseheads are asking the municipality to fund the construction of the building shell, while the team would cover interior costs and remain the exclusive tenant of the training facility. The Mooseheads' current lease, set to expire next year, costs the team about $45,000 annually, he said. Coun. Patty Cuttell said while she understood the need for the expansion, she had concerns about the municipality paying for a space for the exclusive use of a privately owned franchise. "If we build this, what's the cost recovery through the lease?" she asked. Maggie MacDonald, the executive director of parks and recreation, recommended a staff report to examine the financial implications, the assessment of public good, and potential cost recovery mechanisms. Cuttell said she would be willing to ask for a staff report once she examined the motion in greater detail.

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Its the end of the school year and thousands of students have hit the pavement looking for work. But finding and securing a summer job is proving harder and harder for students across the country. 'In the summertime it can be quite competitive. Due to my age, its hard to find opportunities out there to get a paying job,' says Grade 9 student, Olivia Hernandez-Jennex. 'I've probably sent out around 10 resumes around my area.' The federal government announced an expansion of the Canada Summer Jobs program, which offers wage subsidies to businesses hiring young people for seasonal work. That comes with a $25-million price tag, which Devin Drover, the Atlantic director for the Canadian Taxpayers Association, says is a concern for them. 'This [comes] at a time where the Government of Canada is spending tens of billions of dollars just on servicing government debt. So, we're always cautious to see more expenditure at a time when the government, every year is adding on a lot of borrowing,' says Drover. There's no denying the demand is being felt here at home. Stephanie Schnare, the marketing manager for the Halifax Shopping Centre, says a recent job fair held at the mall drew a large crowd. 'We definitely saw between 100 [and] 150 people come out for the job fair which is significant,' says Schnare. 'We saw anywhere from high school students to certainly university and younger grads.' But even with help, some students say it continues to be a struggle. Whether it's having a lack of experience or finding a job that allows them to juggle other responsibilities. 'As a nursing student where we have a super busy schedule during the summer, and we have clinical hours. So that can make it difficult to work because we're already doing full time clinical hours as well,' says Dalhousie University nursing student, Samantha Layden. As the national unemployment rate skyrockets, job seekers of all ages are at a standstill. 'My little brother [is] trying to find just summer employment… I have family members trying to find full-time employment that have recently been laid off and it just seems like mission impossible for anyone to find a job right now,' says another Dalhousie University student, Karah Fleet. But Drover believes the federal government is better suited helping businesses, as way to combat the issue. 'Its clear that businesses are struggling…whether it's through prices going up due to inflation or things like the threat of tariffs, it means there's less opportunity to hire and to grow their business. So I think, one of the things the federal government could do right now is look at lowering some of the corporate tax rates,' says Drover.

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