Carney focused on building Canada, but assures a ‘constructive' U.S. trade deal will be made
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Winnipeg Free Press
13 minutes ago
- Winnipeg Free Press
In the news today: Carney scheduled to visit B.C. Interior Tuesday
Here is a roundup of stories from The Canadian Press designed to bring you up to speed… Carney scheduled to visit B.C. Interior Tuesday Prime Minister Mark Carney is scheduled to be in Kelowna, B.C., for an announcement at a lumber facility on Tuesday after attending the Vancouver Pride parade on the weekend and touring a military facility on Vancouver Island on Monday. Carney toured the Canadian Forces Maritime Experimental and Test Ranges facility near Nanoose Bay, outside Nanaimo, with officials from the Canadian Navy. He toured the Royal Canadian Navy vessel Sikanni accompanied by Navy Commander Vice-Admiral Angus Topshee and Commanding Officer Craig Piccolo from the testing facility. Carney on Sunday met with B.C. Premier David Eby and officials from the Vancouver Fraser Port Authority. The prime minister's visit to the province comes amid renewed tensions in the softwood lumber dispute with the U.S., which has placed anti-dumping duties on softwood products that the B.C. Council of Forest Industries has condemned as 'unjustified and punitive trade actions.' Here's what else we're watching… Vancouver Island blaze now wildfire of note The BC Wildfire Service says the Wesley Ridge wildfire on Vancouver Island has grown to more than five square kilometres in size as 'numerous' fire departments on the island converge on the blaze to protect properties and structures around Cameron Lake. Fire information officer Madison Dahl says the fire is now considered a wildfire of note, but growth was limited early Monday as helicopters equipped with night vision dropped water on hot spots and around the fire's perimeter. Dahl says crews are focused on keeping the fire from growing and affecting travel on Highway 4. The wildfire has nearly 400 area homes under an evacuation order, and residents of more than 230 other homes are on alert to be ready to leave at a moment's notice. Air Canada flight attendants wrap up strike mandate vote Air Canada flight attendants are entering the final day of voting on whether to give a strike mandate to their union. The vote, which began July 28 and closes today, comes after the Air Canada component of the Canadian Union of Public Employees concluded the conciliation process with no deal reached. The union represents more than 10,000 flight attendants who have been in contract talks since the start of the year. It has said that despite sustained efforts, including in the conciliation process with a federally appointed mediator, key issues such as pay, unpaid work and pensions remain unresolved. Air Canada has cautioned the vote does not mean a disruption will happen, noting a potential strike can't take place until after a 21-day cooling-off period following the 60-day conciliation period. What happens after Canada Post workers vote no? Labour experts say another postal service strike is unlikely after unionized Canada Post workers rejected their employer's latest round of offers in a forced vote and the parties mull their next steps. The Canadian Union of Postal Workers said Friday that the roughly 55,000 members represented by the union shot down the Crown corporation's latest proposal, which would've seen wage hikes of over 13 per cent over four years and restructuring to add part-time workers to the deal. Some 68.5 per cent of urban mail carriers who voted were against the deal, while their rural and suburban colleagues were 69.4 per cent against. Adam King, assistant professor of labour studies at the University of Manitoba, said the forced ratification vote ordered by the federal government and administered by the Canada Industrial Relations Board was a 'distraction.' Negotiations for a new collective agreement have been ongoing for more than a year and a half. The federal government asked CIRB to step in and scuttle a holiday season postal strike late last year, but the parties remain at an impasse. Japan's aging atomic bomb survivors speak out against nuclear weapons Eighty years after the atomic bombings of Hiroshima and Nagasaki, many of the remaining Japanese survivors are increasingly frustrated by growing nuclear threats and the acceptance of nuclear weapons by global leaders. The U.S. attacks on Hiroshima on Aug. 6, 1945, and three days later on Nagasaki killed more than 200,000 people by the end of that year. Others survived but with radiation illness. About 100,000 survivors are still alive. Many hid their experiences to protect themselves and their families from discrimination that still exists. Others couldn't talk about what happened because of the trauma they suffered. Some of the aging survivors have begun to speak out late in their lives, hoping to encourage others to push for the end of nuclear weapons. Despite numerous health issues, survivor Kunihiko Iida, 83, has devoted his retirement years to telling his story as a way to advocate for nuclear disarmament. 'The only path to peace is nuclear weapons' abolishment. There is no other way,' Iida said. This report by The Canadian Press was first published Aug. 5, 2025.
Globe and Mail
13 minutes ago
- Globe and Mail
Canadians with an X gender marker will now have to select male or female on Nexus travel cards after Trump order
Canadians renewing their Nexus travel cards or applying for new ones to make it easier to cross the border to the U.S. must now say if they are male or female, even if they are transgender or non-binary. The change follows U.S. President Donald Trump's executive order that says the American government will now only recognize the male and female sex. U.S. passports and other identity documents are no longer issued with an X gender marker. Immigration lawyers said Canada's decision to force non-binary or trans Canadians to choose a male or female gender designation for Nexus raises human-rights concerns and could prompt a court challenge in Canada on constitutional grounds. The Nexus program is jointly managed by the Canada Border Services Agency and U.S. Customs and Border Protection and is designed to speed up border crossings between the two countries for low-risk, preapproved travellers. Holders of Nexus cards, which are valid for five years, can generally get through security checks more swiftly. The U.S. is continuing to recognize Canadian passports with an X gender marker, the U.S. government has confirmed. The CBSA said that valid Nexus cards with an X held by Canadians will also still be recognized. But when Canadians apply to renew their card or apply for a new one, they can no longer choose an X as their gender marker. 'New applicants are able to apply using a passport with the 'X' gender identifier, however they will be required to select 'male' or 'female' for the purposes of their NEXUS membership,' CBSA spokesperson Rebecca Purdy said. Judge halts deportation of non-binary American in ruling after Trump's gender edicts Sarah Mikhail of Smith Immigration law, which specializes in LGBTQ immigration, said it is 'very troubling' that Canada is implementing the policy. 'What we're seeing here is an example of the wide reach of the discriminatory policies of the Trump administration targeting trans and non-binary people, now reaching and impacting Canadian citizens as well,' she said. Gemma Hickey, who is non-binary and was one of the first people in Canada to have X as their gender marker on their passport, said forcing non-binary people to choose a male or female gender to get a Nexus card has 'serious implications' for Canada's transgender community. The advocate questioned why Ottawa agreed to a policy that affects Canadians' human rights. 'Our lives are being impacted significantly since Trump came into office - even Canadians,' they said. 'It's putting people in an impossible position.' Between January, 2022, and March, approximately 550 Nexus applications were submitted with X as the gender identifier, the CBSA said. Canada's Nexus card policy change followed Mr. Trump's executive order that took effect in February, the CBSA confirmed. Immigration lawyer Maureen Silcoff said the policy meant that a non-binary traveller who wants a Nexus card 'either has to accede to the gender specification or they have to choose to be excluded from the Nexus option.' 'The U.S. policy is clearly at odds with the Canadian policy on gender identity,' she added. Yameena Ansari, who represents Hannah Kreager, a young transgender American woman who has lodged an asylum claim in Canada, said 'let's call this Nexus policy what it is – a rollback of the rights of non-binary Canadians – and it's unconstitutional." American transgender woman files asylum claim in Canada after Trump's edict on gender She said Section 15 of the Charter of Rights and Freedoms guarantees equal protection under the law without discrimination, including with regard to gender. 'The Canadian government forcing a non-binary individual to misgender themselves on a government-issued document flies in the face of Section 15 of the Charter, meaning that a person or organization could sue the government, asking for the Nexus policy to be struck down,' she said. E-mails between Global Affairs officials obtained in an access to information request by researcher Ken Rubin show that earlier this year public servants discussed whether to issue a travel advisory to Canadians with an X gender marker on the Nexus changes. But the current travel advisory to the U.S. does not mention the changes.
Globe and Mail
13 minutes ago
- Globe and Mail
1 Unstoppable Stock That Could Join Nvidia, Microsoft, and Apple in the $3 Trillion Club
Key Points Eight American companies are worth $1 trillion or more, but only Nvidia, Microsoft, and Apple have surpassed the $3 trillion milestone so far. Meta Platforms could join that exclusive club thanks to its efforts in the artificial intelligence (AI) space, which are transforming its social media business. Meta stock has soared by 200% over the past five years, but it's still surprisingly cheap. 10 stocks we like better than Meta Platforms › Eight American companies are valued at $1 trillion or more, but only three graduated into the ultra-exclusive $3 trillion club: Nvidia, Microsoft, and Apple. I think Meta Platforms (NASDAQ: META) could join them. Meta owns social media platforms Facebook, Instagram, and WhatsApp, but it has also become a clear leader in the artificial intelligence (AI) race thanks to its Llama family of large language models (LLMs), which are among the most powerful in the industry. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Meta stock soared by 11% on July 31, after the company reported a stellar set of operating results for the second quarter of 2025 (which ended on June 30). The move lifted its market capitalization to almost $2 trillion, meaning investors who buy the stock today could earn a return of 50% if it ascends into the $3 trillion club. Here's why I think it will get there sooner rather than later. AI is supercharging Meta's business Almost 3.5 billion people were using at least one of Meta's social media apps every day during the second quarter of 2025. As that figure approaches half of the global population, it will become harder to attract new users, which will have consequences for the company's advertising revenue in the future. However, Meta can also generate more advertising dollars by increasing the amount of time each user spends on its apps, and AI is central to that strategy. Meta's recommendation engine uses AI to learn what type of content each user enjoys viewing, and then it feeds them more of it. CEO Mark Zuckerberg said this resulted in a 6% increase in the amount of time users spent on Instagram during the second quarter, and a 5% increase on Facebook. Simply put, the longer each user spends online, the more ads they see, and the more money Meta makes. AI also boosts the efficiency of Meta's ad-recommendation model by targeting users more accurately, which led to a 5% increase in conversions on Instagram during the second quarter and a 3% increase on Facebook. Businesses will normally pay more money per ad when conversions are increasing, which is another big tailwind for Meta. Higher engagement and more conversions sent Meta's second-quarter revenue soaring 22% year over year to $47.5 billion, which was comfortably above the company's forecast range of $42.5 billion to $45.5 billion. Management also issued bullish guidance for the third quarter (which ends on Sept. 30), telling investors the company's revenue could top $50 billion for the first time ever. Zuckerberg says AI superintelligence is in sight Meta launched its Llama family of LLMs in early 2023. They are open source so Meta leans on a community of millions of developers to troubleshoot technical issues, which is why they have caught up to the best closed-source models so quickly. The latest Llama 4 models now rival the most advanced releases from top start-ups like OpenAI and Anthropic. Meta is using the Llama models to power new features across its social media apps, which is another way it's boosting engagement. The Meta AI chatbot, for instance, already has over 1 billion monthly active users who tap into its capabilities for homework assistance, image generation, and everything in between. Zuckerberg says AI superintelligence -- which is when AI models surpass human intelligence by every metric -- is now in sight. Whoever reaches this milestone first could have a significant advantage over every other AI developer, which is why Zuckerberg recently established a new division called Meta Superintelligence Labs. Scale AI founder Alexandr Wang will lead the team, after selling 49% of his company to Meta in a $14 billion deal in June. But achieving superintelligence won't be cheap. Meta allocated $17 billion to capital expenditures (capex) during the second quarter alone, most of which went toward building data center infrastructure and buying chips from suppliers like Nvidia. The company also increased its capex forecast for 2025; it now expects to spend between $66 billion to $72 billion, up from $64 billion to $72 billion previously. The gigantic capex spending could dent Meta's profitability in the short term, but the company hopes it will lead to accelerated growth over the long run as AI (and potentially superintelligence) improves user engagement and ad conversions even further. Meta has a clear path to the $3 trillion club Fortunately, Meta's strong beat at the top line led to a very strong result at the bottom line during the second quarter. Its earnings per share (EPS) soared by 38% year over year to $7.14, crushing Wall Street's estimate of $5.92. It carried the company's trailing-12-month EPS to $27.62, which places its stock at a price-to-earnings (P/E) ratio of just 28. That's a noteworthy discount to the Nasdaq-100 index, which is trading at a P/E ratio of 32.7, and it's an even steeper discount to the median P/E ratio of the " Magnificent Seven" stocks, which stands at 38.1. The Magnificent Seven (which includes Meta) is an elite group of technology companies operating on the front lines of the AI industry. PE Ratio data by YCharts Therefore, despite logging an eye-popping 200% gain over the last five years alone, Meta stock might still be undervalued. It would have to rise by a further 36.1% just to trade in line with the median P/E ratio of the Magnificent Seven, which would catapult its market cap to almost $2.7 trillion. At that point, Meta's annualized EPS would have to grow by just 11% to push its market cap above $3 trillion. Meta grew its EPS at a compound annual rate of 36% during the recent decade between 2014 and 2024. That growth rate is unsustainable over the long term for any company, but Meta's EPS soared at an above-trend pace of 37% during the first quarter of 2025, and then 38% in the second quarter, so it should have no trouble mustering 11% growth over the next year or two. Even if Meta's P/E ratio holds steady at 28 -- which I predict is unlikely because it seems so cheap -- it's only a matter of time before the company's rapid earnings growth carries it into the exclusive $3 trillion club. Should you invest $1,000 in Meta Platforms right now? Before you buy stock in Meta Platforms, 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 Meta Platforms 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 $624,823!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,820!* Now, it's worth noting Stock Advisor's total average return is 1,019% — a market-crushing outperformance compared to 178% 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 August 4, 2025 Anthony Di Pizio has no position in any of the stocks mentioned. 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.
