Canada's MPs spent record-breaking $188M in 2024
An expenditure record revealed members of Parliament's spending in 2024 increased $12.7 million over 2023 to $187.8 million.
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CBC
15 minutes ago
- CBC
U.S. immigration authorities extend raid activity in Los Angeles area amid protests
U.S. immigration authorities extended activity in the Los Angeles area on Saturday in the wake of protests at a federal detention facility and a police response that included tear gas, flash-bangs and the arrest of a union leader. Border Patrol personnel in riot gear and gas masks stood guard outside an industrial park in the city of Paramount, Calif., deploying tear gas as bystanders and protesters gathered on medians and across the street, some jeering at authorities while recording the events on smartphones. "ICE out of Paramount. We see you for what you are," a woman announced through a megaphone, referring to U.S. Immigration and Customs Enforcement. "You are not welcome here." One hand-held sign said, "No Human Being Is Illegal." The boulevard was closed to traffic as U.S. Border Patrol circulated through the area. ICE representatives did not respond immediately to email inquiries about weekend enforcement activities." Arrests by immigration authorities in Los Angeles come as U.S. President Donald Trump and his administration push to fulfil promises to carry out mass deportations across the country. On Friday, ICE officers arrested more than 40 people as they executed search warrants at multiple locations, including outside a clothing warehouse, where a tense scene unfolded as a crowd tried to block agents from driving away. Los Angeles Mayor Karen Bass said the activity was meant to "sow terror" in the nation's second-largest city. In a statement on Saturday, ICE acting director Todd Lyons chided Bass for the city's response to protests. "Mayor Bass took the side of chaos and lawlessness over law enforcement," Lyons said in a statement. "Make no mistake, ICE will continue to enforce our nation's immigration laws and arrest criminal illegal aliens." Protesters gathered Friday evening outside a federal detention centre in Los Angeles, where lawyers said those arrested had been taken, chanting "set them free, let them stay!" Other protesters held signs that said "ICE out of LA!" and led chants and shouted from megaphones. Some scrawled graffiti on the building facade. Federal agents executed search warrants at three locations, including a warehouse in the fashion district of Los Angeles, after a judge found there was probable cause the employer was using fictitious documents for some of its workers, according to representatives for Homeland Security Investigations and the U.S. Attorney's Office.
Globe and Mail
35 minutes ago
- Globe and Mail
Prediction: 1 Artificial Intelligence (AI) Stock to Buy Before It Soars 100% in the Next Year (Hint: Not Palantir)
Palantir Technologies (NASDAQ: PLTR) has been an incredible investment throughout the artificial intelligence (AI) boom. The stock has advanced 1,900% since January 2023. But CoreWeave (NASDAQ: CRWV) could be the next big winner as the AI boom continues to unfold. The company held its initial public offering two months ago, and the share price has already tripled, but I think CoreWeave stock can double again in the next year. Here's why. CoreWeave is a leader in artificial intelligence infrastructure services CoreWeave provides cloud infrastructure and software services. Its platform (called a GPU cloud) is purpose-built for demanding workloads like artificial intelligence (AI). Research company SemiAnalysis recently ranked CoreWeave as the best GPU cloud on the market, awarding it higher scores than competitors like Amazon, Microsoft, and Alphabet 's Google. CoreWeave has distinguished itself from those hyperscalers in two ways. First, it is frequently the first cloud to deploy the latest Nvidia technologies due to its close relationship with the chipmaker. Second, CoreWeave is very good at running GPU clusters, such that it frequently achieves record-breaking results at the MLPerf benchmarks: objective tests that measure the performance of AI systems. CoreWeave reported tremendous first-quarter financial results. Revenue increased 420% to $981 million, and adjusted operating income (which excludes stock-based compensation and interest payments on debt) increased 550% to $162 million. As a caveat, the company reported a non-GAAP (generally accepted accounting principles) net loss of $150 million because interest payments on debt cut into profits. However, significant debt is unavoidable when building AI infrastructure, and CoreWeave has a responsible borrowing strategy involving what management calls "naturally deleveraging self-amortizing debt facilities." That means the company only takes on debt when a customer contract creates a need for additional AI infrastructure, and only if that contract more than covers the cost of the debt. CoreWeave disclosed an impressive customer list when it filed its Form S-1 with the SEC prior to its initial public offering, including IBM, Meta Platforms, Microsoft, and Nvidia. Since then, CoreWeave has won new contracts with OpenAI and an unnamed hyperscaler, such that the company now has a revenue backlog of nearly $26 billion. Why CoreWeave stock could return 100% in the next year CoreWeave currently trades at 26 times sales. That is objectively expensive, but it seems reasonable for a company with triple-digit revenue growth and a gross margin of 73%. For instance, fellow cloud services company Cloudflare reported 27% revenue growth with a 77% gross margin in the most recent quarter, and that stock trades at 35 times sales. Here's why I think CoreWeave stock can double during the next year: Wall Street estimates trailing-12-month sales will grow 200% over the next four quarters. If that happens, shares can double while the price-to-sales ratio drops to a more reasonable 17. That seems plausible, provided demand for AI infrastructure remains robust. Should you invest $1,000 in CoreWeave right now? Before you buy stock in CoreWeave, 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 CoreWeave 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 $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor 's total average return is789% — 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. Trevor Jennewine has positions in Amazon, Nvidia, and Palantir Technologies. The Motley Fool has positions in and recommends Alphabet, Amazon, Cloudflare, International Business Machines, Meta Platforms, Microsoft, Nvidia, and Palantir Technologies. 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
an hour ago
- CTV News
Clashes resume in Los Angeles area as immigration enforcement draws new protests
Police detain a protester blocking the garage entrance of the Los Angeles Federal Building, following multiple detentions by Immigration and Customs Enforcement, in downtown Los Angeles on Friday. (Daniel Cole/Reuters via CNN Newsource) For a second consecutive day, tear gas and flash bangs have been used to disperse protests over immigration activity in the Los Angeles area. On Saturday, protesters gathered in Paramount, California. Assemblymember José Luis Solache said four people were arrested. The FBI is investigating alleged instances of demonstrators obstructing immigration enforcement operations in Los Angeles Friday and Saturday, the bureau's deputy director, Dan Bongino, said on social media Saturday. Los Angeles portest Protesters push a garbage cart as they try to block the garage entrance of the Los Angeles Federal Building. (Daniel Cole/Reuters via CNN Newsource) The Department of Justice criticized California officials as protests over federal immigration enforcement operations entered a second day Saturday. 'The violent targeting of law enforcement in Los Angeles by lawless rioters is despicable and Mayor Bass and Governor Newsom must call for it to end. The men and women of ICE put their lives on the line to protect and defend the lives of American citizens,' said Assistant Secretary Tricia McLaughlin in a Saturday statement. The Los Angeles County Sheriff's Department said it was not involved in immigration enforcement and was working to ensure the safety of the public. 'The Sheriff's Department was not involved in any federal law enforcement operations or actions and responded solely for traffic and crowd control management,' the LASD said in a statement. Protests started Friday The protests started Friday afternoon. Police on Friday night issued a citywide tactical alert nearly two hours after declaring protests across the downtown area unlawful assemblies. 'The use of less lethal munitions has been authorized by the Incident Commander,' LAPD's Central Division wrote in a post on X. Videos of the scene show law enforcement officers in riot gear, wielding batons, holding shields and throwing smoke bombs into the crowd. Protesters chanted 'Free them all' and held signs with messages including 'Full Rights for All Immigrants' and 'Stop the Deportations.' Video shows several officers in riot gear pinning at least one person to the ground. Los Angeles protests Los Angeles Police Department officers move to disperse a protest. (Jae C. Hong/AP via CNN Newsource) The protest came after at least 44 people were arrested by federal immigration agents earlier in the day, The Associated Press reported, after Immigration and Customs Enforcement officers executed search warrants at three locations, according to a spokesperson for Homeland Security Investigations. The arrests come amid U.S. President Donald Trump's crackdown on immigration, which has involved waves of raids and deportations across the country. Los Angeles Mayor Karen Bass characterized the immigration arrests as 'mass chaos,' according to CNN affiliate KABC. The mayor said she hadn't been told about the raids in advance. 'It sows a sense of terror throughout the community,' she said. 'ICE was literally chasing people down the street.' The federal law enforcement activity came on the same day multiple sources told CNN the Trump administration is preparing for 'large-scale' cancellation of federal funds for California. CNN has reached out to the Department of Homeland Security for further information. One of the Friday raids was in the city's Fashion District, where agents served a search warrant after a judge determined a business was allegedly using fictitious documents for some of its workers, U.S. Attorney's office spokesperson Ciaran McEvoy told CNN. Union leader arrested David Huerta, the president of the Service Employees International Union California, was arrested by federal agents after allegedly attempting to obstruct their access at a worksite, U.S. Attorney for the Central District of California Bill Essayli said in a post on X. 'Let me be clear: I don't care who you are—if you impede federal agents, you will be arrested and prosecuted,' Essayli said. After being treated for injuries from his arrest, Huerta released a statement condemning the citywide raids. 'Hard-working people, and members of our family and our community, are being treated like criminals,' he said. 'We all collectively have to object to this madness because this is not justice. This is injustice. And we all have to stand on the right side of justice.' 'No one should ever be harmed for witnessing government action,' California Gov. Gavin Newsom said in a statement responding to Huerta's arrest, describing the union president as a 'respected leader, a patriot and an advocate for working people.' Bass said Friday's immigration arrests were different from previous, more organized actions. 'I've been really worried about this from the beginning, and as far as I know, this is the first time this has happened in our city like this,' she told KABC. 'We know ICE has been here, but it's been for targeted arrests; this was just mass chaos.' 'It sows a sense of chaos in our city, and a sense of terror, and it's just unacceptable.' The American Civil Liberties Union called on 'elected officials to uphold their commitment to all Angelenos — immigrants and non-immigrants alike — by taking all action necessary to grind this oppressive and vile paramilitary operation to a halt and keep our city safe and whole' in a Friday statement. Protesters face off with police Protesters gathered outside the Federal Building in downtown Los Angeles at roughly 4 p.m., CNN affiliate KABC reported. At one point, hundreds of activists began marching toward a detention facility on Temple Street. Los Angeles protest Protesters hold placards as they gather around the Los Angeles Federal Building. (Daniel Cole/Reuters via CNN Newsource) One video obtained by CNN shows protesters retreating from the building's entrance after coming face-to-face with the police guarding it. Several projectiles are thrown at officers equipped with body armor and protective shields. Other videos show the detention center sprayed with anti-ICE graffiti, with some protesters blocking LAPD vehicles close by. Families and friends who had loved ones taken by immigration authorities visited the detention center to learn more about their status, KABC reported. A young woman who spoke with the outlet said she went to the building in tears after her father was taken by federal agents. The LAPD declared an unlawful assembly around 7 p.m. and warned demonstrators were subject to arrest if they remained in the area. Aerial footage from KABC shows law enforcement throwing smoke bombs on a street to disperse people so they could make way for SUVs and military-style vehicles. 'While the LAPD will continue to have a visible presence in all our communities to ensure public safety, we will not assist or participate in any sort of mass deportations, nor will the LAPD try to determine an individual's immigration status,' Police Chief Jim McDonnell said in a statement about the immigration enforcement activities. 'I want everyone, including our immigrant community, to feel safe calling the police in their time of need and know that the LAPD will be there for you without regard to one's immigration status.' Newsom said in a Saturday statement, 'Continued chaotic federal sweeps, across California, to meet an arbitrary arrest quota are as reckless as they are cruel.' 'Donald Trump's chaos is eroding trust, tearing families apart, and undermining the workers and industries that power America's economy,' the governor said. Article by Karina Tsui and Zoe Sottile.
