CTV News at the G7: Leaders tackle global energy security and PM Carney speaks with Modi
CTV News at the G7: Leaders tackle global energy security and PM Carney speaks with Modi
CTV's Colton Praill reports on day 2 of the G7 in Alberta, where PM Carney had key meetings with India, South Korea, Mexico, and discusses the agenda ahead.
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Globe and Mail
an hour ago
- Globe and Mail
MA, V, or XYZ: Which Fintech Stock Is Wall Street's Best Pick?
Macro uncertainty, geopolitical concerns, and increased competition could impact consumer spending and weigh on the performance of fintech stocks. Last week, fears about retail giants considering the launch of their own stablecoins dragged down stocks of fintech giants. Nonetheless, analysts believe in the resilience of several fintech stocks. With this backdrop in mind, we used TipRanks' Stock Comparison Tool to place Mastercard (MA), Visa (V), and Block (XYZ) against each other to find the best fintech stock, according to Wall Street analysts. Confident Investing Starts Here: Mastercard (NYSE:MA) Mastercard boasts a vast payments network and a solid brand name. MA stock has risen about 8% so far in 2025. The payments processing behemoth reported a 9% growth in its gross dollar volume (on a local currency basis) to $2.4 trillion in the first quarter of 2025. The company is focused on innovation to drive further growth. It launched Mastercard Agent Pay, its new Agentic Payments Program, and will work with companies like Microsoft (MSFT) and OpenAI. Mastercard has also entered into a strategic partnership with Corpay to offer an enhanced suite of corporate cross-border payment solutions. Mastercard sees its value-added services, which complement its core payments network, as a key growth driver. Interestingly, 85% of the company's value-added services and solutions revenues are recurring in nature, presenting a stable baseline for growth. Despite ongoing macro challenges, Mastercard remains confident about delivering a resilient performance, supported by its diversified business model. Is Mastercard Stock a Good Buy? On Friday, Visa and Mastercard stocks declined 5% each in reaction to a Wall Street Journal report that retail giants Amazon (AMZN) and Walmart (WMT) are exploring issuing their own stablecoins to shift high volumes of transactions outside the traditional financial system and save billions of dollars in fees. Reacting to the news, Barclays analyst Ramsey El Assal reiterated a Buy rating on Mastercard stock with a price target of $650 and a Buy rating on Visa stock with a price target of $396. While Assal sees notable potential in stablecoin technology and remains optimistic about its broader applications, he believes retail payments will be a challenging area for adoption. He contends that the concerns about the impact on Visa and Mastercard are exaggerated. Assal stated that he views any related weakness as a buying opportunity. With 20 Buys and three Holds, Mastercard stock scores a Strong Buy consensus rating. At $639.10, the average MA stock price target indicates 12.4% upside potential from current levels. See more MA analyst ratings Visa (NYSE:V) Payments processing giant Visa delivered a resilient performance in the March quarter despite a challenging macro backdrop. The company reported market-beating results for the second quarter of Fiscal 2025 (ended March 31, 2025), with payments volume rising 7.5% (constant currency basis) to $3.34 trillion. Visa's Q2 FY25 revenue was supported by strength in cross-border volume and processed transactions. Despite macro challenges, the company is confident about generating solid performance, driven by its strategy across key offerings, a diversified business model, and a focus on innovation. Is Visa Stock a Buy, Sell, or Hold? Following a Wall Street Journal article on Amazon (AMZN) and Walmart's (WMT) potential issue of their own stablecoins, William Blair analyst Andrew Jeffrey encouraged investors to accumulate shares of Visa and Mastercard on pullback, as he does not believe that stablecoins are well suited for B2C commerce, even as merchants view them as a potential means of lowering card acceptance costs. Jeffrey's opinion is backed by three reasons. Firstly, consumers are habituated to the ease of use and security of traditional cards. Secondly, there is no stablecoin standard. Lastly, Visa and Mastercard are building stablecoin infrastructure that can support commerce on their platforms, which can help them to continue partnering with banks for issuance while bringing down merchants' acceptance costs. Overall, Visa stock scores a Strong Buy consensus rating based on 24 Buys and four Holds. The average VISA stock price target of $388.85 indicates 9.4% upside potential from current levels. VISA stock has risen about 12.5% so far this year. Block (NYSE:XYZ) Fintech company Block operates two ecosystems: Square for addressing merchants' financial needs and Cash App for peer-to-peer payments. It is also growing its Bitcoin (BTC-USD) platform and recently announced the launch of Bitcoin payments on Square. XYZ stock has risen 12.4% over the past month, but is still down about 24% so far in 2025 due to concerns over a slowdown in growth amid intense competition. Last month, Block reported dismal earnings for the first quarter of 2025 and lowered its full-year gross profit outlook, citing weak consumer spending due to macro woes and lower-than-anticipated inflows in what is generally seen to be a strong tax refund season. In the Q1 shareholder letter, management mentioned the recent deceleration in growth and stated that they expect Cash App gross profit growth and overall Block gross profit growth to 'significantly accelerate' starting in the third quarter. The company said that it expects the rollout of Cash App Borrow to more customers and an increase in Borrow limits to drive gross profit growth through increased originations and enhanced unit economics. Is XYZ Stock a Good Buy? Earlier this month, Evercore analyst Adam Frisch upgraded Block Stock to Buy from Hold and increased the price target to $75 from $58. Frisch thinks that the initial concerns around Block's aggressive lending following its first-quarter earnings have eased. He believes that the company's lending strategy is more balanced than feared, given a diversified risk profile and controlled expansion, especially within Cash App Borrow. Frisch also noted that low-end consumer spending remains stable, supported by steady unemployment deposits and steady payment activity. The analyst noted recent product launches at Square, including new hardware and a consolidated app, as favorable indications of development efficiency following an internal reorganization. He expects the revamped sales efforts and product improvements to drive Square's growth. Frisch thinks that XYZ stock is attractively valued compared to its peers and historical multiples. Turning to Wall Street, Block stock scores a Moderate Buy consensus rating based on 29 Buys, eight Holds, and two Sell recommendations. The average XYZ stock price target of $66.25 indicates a modest upside potential of 2.2% from current levels. See more XYZ analyst ratings Conclusion Wall Street is bullish on Visa and Mastercard stocks and cautiously optimistic on Block. Analysts see a slightly higher upside potential in Mastercard stock than in Visa stock. They are confident about continued growth in Mastercard, driven by its extensive network, dominant position, innovation, and strength in value-added services.
Toronto Star
an hour ago
- Toronto Star
Mark Carney and world leaders unable to convince Donald Trump to sign joint G7 declaration of support for Ukraine
KANANASKIS, Alta. — The G7 group of world leaders emerged from its Canadian summit without a joint statement against Russia, showing that achieving unity is a lot harder than it looks. Prime Minister Mark Carney and other world leaders around the table could not persuade U.S. President Donald Trump, before he left for Washington, to sign on to a joint declaration of support for Ukraine that contained 'strong language' that Canada, France, Germany, Italy, Britain, Japan and the European Union all wanted to exert pressure on Russia, according to a Canadian official who briefed reporters Tuesday afternoon before Carney addressed a closing news conference. However Carney later downplayed the absence of a joint G7 declaration on Ukraine, and denied there was any split or disagreement in the G7 ranks. He suggested that the leaders simply agreed that, before Trump took off, the more urgent priority to agree upon was a joint declaration on Iran, and there were no insurmountable differences. ARTICLE CONTINUES BELOW Leaders of the G7 nations gather for a photo in Kananaskis, Alta., joined by Indian Prime Minister Narendra Modi and Ukrainian President Volodymyr Zelenskyy. U.S. President Donald Trump left the summit the day before to deal with the war between Iran and Israel. (June 17, 2025 / The Canadian Press) That didn't align with information provided earlier to Canadian reporters during a background briefing with a senior government official who said the American side wanted to 'water down' a Ukraine declaration because it would impede U.S. ability to broker an end to the Russia-Ukraine war. The official briefed reporters on condition they not be identified in order to discuss the dynamic behind closed doors, and was only authorized to provide limited details. Late Tuesday, after Carney spoke, the PMO sought to clarify the record. PMO spokesperson Emily Williams in a statement to reporters said that Canada had not proposed a joint G7 document as such, only a 'chair's summary' to other delegations. 'No proposed joint statement regarding Ukraine was distributed. Canada's intention was always for the important language to be a part of the G7 Chairs' Summary Statement, and it was.' Another G7 source said the fault lines on any Ukraine statement were clear as early as last Friday. However Carney, visibly relaxed if not relieved following what he described as a successful summit, said 'I was in the room' and described a successful two days of meetings that produced six other joint statements supported by the G7 leaders and others. On Ukraine, he pointed to a 'chair's summary' that hadn't by then been published which included a single paragraph on Ukraine that Carney insisted represented G7 unity, reading out from it to dispute media questions on 'the minutiae' of the Ukraine discussion. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW 'G7 Leaders expressed support for President Trump's efforts to achieve a just and lasting peace in Ukraine,' it read. 'They recognized that Ukraine has committed to an unconditional ceasefire, and they agreed that Russia must do the same,' the statement continued. It said they are 'resolute in exploring all options to maximize pressure on Russia, including financial sanctions.' Carney's summary of where they aligned — which did not state specific support for more sanctions, more military equipment or seizure of frozen Russian assets — comes at a time when Russia is intensifying its attacks on Ukraine's civilian population and the war-torn country's President Volodymyr Zelenskyy came to Kananaskis to rally more support. Zelenskyy left Wednesday, without ever seeing Trump, cancelling his own news conference. Nevertheless, the G7 did land on an agreed joint statement on Iran-Israel hostilities that the U.S. could live with. It supported a call for de-escalation of conflict in the Middle East region but did not specify the need to de-escalate the spiralling Iran-Israel crisis. It supported Israel's right to defend itself and identified Iran as 'the principal source of regional instability and terror.' There were other divides on display. Trump condemned the G7 decision in 2014 to evict Russia from the G8's ranks, after President Vladimir Putin invaded Ukraine and annexed the Crimea peninsula. 'A big mistake,' Trump said as Carney stood silently by him Monday. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW In response to reporter questions Tuesday, Carney dismissed any concern that Putin may have been offended by his ouster. 'It was personally offensive, to put it mildly, to the citizens of Ukraine and the inhabitants of Crimea, when Russia invaded in 2014 which was the cause of their ejection from the G8,' Carney said. A huge divide between Trump and the G7, and other international leaders invited to the summit, exists over Trump's global tariffs. Several leaders hoped to negotiate bilateral deals here with Trump to ease the hit, but only a handful — Canada, Japan, the U.K. and the EU — even got a chance to talk directly with the president before he took off. Trump's delegates, Treasury Secretary Scott Bessent, U.S. trade representative Jamieson Greer, and another White House official remained behind to take part in the summit's meetings with Zelenskyy. French President Emmanuel Macron told the Star Trump's absence did not detract from the discussions on Ukraine with Zelenskyy. He said the G7 is united in a desire to find a lasting and enforceable end to the war. 'It is in the strategic American interest to continue this discussion with us and to do it as we discussed this morning: sanctions, military support for Ukraine to lead Russia to return to the table — which is, by the way, what President Trump has been asking for since February — a ceasefire, and negotiations for a lasting peace.' How they reach that goal is where they differ. Many G7 leaders want more muscular sanctions on Russia and more military equipment sent into Ukraine. Canada announced new measures Tuesday on those fronts, as did Britain. Both increased sanctions on individuals and entities, and targeted Russia's 'shadow fleet' of ships used to evade sanctions. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW British Prime Minister Keir Starmer's sanctions package took aim at 30 targets across Russia's financial, military and energy sectors, and targets 20 of his oil tankers, as well as the companies responsible for crewing and managing the vessels, according to a U.K. news release. 'These sanctions strike right at the heart of Putin's war machine, choking off his ability to continue his barbaric war in Ukraine,' said Starmer. 'We know that our sanctions are hitting hard, so while Putin shows total disregard for peace, we will not hesitate to keep tightening the screws.' Zelenskyy met Carney in a bilateral meeting Tuesday after a devastating night where Russia rained down missile and drone strikes on Kyiv, the Ukrainian capital. The Ukrainian leader called it a 'big tragedy,' one of the biggest attacks since the beginning of the war, with 440 drones from Russia, and 32 missiles, including ballistic missiles, saying at that point he understood 138 people were injured and 12 killed in the attack. Carney, standing next to Zelenskyy, condemned 'in the strongest terms, the latest outrage — barbarism from Russia,' adding it 'underscores the importance of standing in total solidarity with Ukraine, with the Ukrainian people,' and 'the importance of using maximum pressure against Russia, who has refused to come to the table.' Canada will provide additional drones, helicopters and broader munitions, 'over $2 billion worth of assistance directly to Ukraine,' said Carney. And Ottawa is dispersing the next tranche of the loan based on the frozen Russian assets, $2.3 billion to help rebuild its infrastructure and public systems., he added. Zelenskyy, dressed in black, welcomed the aid. 'We need support from our allies,' he said, 'until Russia will be ready for the peace negotiations. We are ready for ... the unconditional ceasefire.' ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW As he wound up the summit, Carney struck a confidently cocky note, joking about the number of questions, quipping whether Trump had pegged the $71 billion tag for Canada to get in on the 'Golden Dome' in Canadian or U.S. dollars, wisecracking about a G7 where 'there are only, oddly, nine people in the room, because of the two extra Europe — not extra Europeans — right amount of Europeans.' He said the summit's direct dialogue and 'strategic exchanges' were invaluable and while leaders disagreed on 'a number of issues' it came from an 'effort to find common solutions to some of these problems.' Yet Carney was careful and guarded when he defended his controversial decision to invite Indian Prime Minister Narendra Modi, describing him as an important world leader with whom Canada had to re-engage on law enforcement issues, trade and immigration issues. But Carney refused to answer directly about whether he raised the 'murder' case of Hardeep Singh Nijjar's alleged shooting death at the direction of Indian government agents. At the end, the G7 issued a number of other joint G7 statements which the U.S. to. They pledged co-operation and action to harness the power of artificial intelligence and quantum computing, to ramp up efforts including working with social media platforms and possible sanctions to counter migrant smuggling. The G7 leaders condemned transnational repression, vowing to create a new digital detection 'academy' to support potential targets. They agreed to address wildfires through mitigation and adaptation, construction of resilient infrastructure, to share data. Two other statements were issued on a new a critical minerals action plan, which was also endorsed by Australia, India and South Korea, and a Kananaskis Wildfires Charter endorsed by Australia, India, Mexico, South Korea, and South Africa. Politics Headlines Newsletter Get the latest news and unmatched insights in your inbox every evening Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. Please enter a valid email address. Sign Up Yes, I'd also like to receive customized content suggestions and promotional messages from the Star. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy. This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Politics Headlines Newsletter You're signed up! 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Canada Standard
2 hours ago
- Canada Standard
"Concluding a productive Canada visit": PM Modi departs for Croatia
Kananaskis [Canada], June 18 (ANI): Prime Minister Narendra Modi concluded his visit to Canada, where he participated in the G7 Summit and departed for Croatia. During his visit, PM Modi expressed gratitude to the people and government of Canada for hosting a successful G7 Summit and underscored how India remains committed to the cause of global peace, prosperity and security. In a post on X, PM Modi wrote, 'Concluding a productive Canada visit. Thankful to the Canadian people and Government for hosting a successful G7 Summit, which witnessed fruitful discussions on diverse global issues. We remain committed to furthering global peace, prosperity and sustainability.' The Ministry of External Affairs (MEA) also highlighted the significance of the visit in a post on X, stating, 'PM @narendramodi concludes a very productive visit to Canada! Held fruitful dialogue on key issues in the global context of energy security, technology, and innovation at the @G7 Summit. Met with several leaders & discussed bilateral ties. Next stop- Croatia' Prime Minister Narendra Modi had arrived at the Pomeroy Kananaskis Mountain Lodge in Canada on Tuesday to attend the G7 Summit. Canadian Prime Minister Mark Carney received PM Modi as he arrived at the summit venue in Kananaskis, Alberta. In a series of high-level meetings held on the sidelines of the G7 Summit in Canada, PM Modi highlighted India's efforts to strengthen global partnerships and champion the cause of the Global South. He held discussions with Ursula von der Leyen, President of the European Commission. Antonio Costa, President of the European Council. Building on these interactions, PM Modi emphasised solidarity with the Global South after meetings with leaders from Brazil and South Africa. He described 'outstanding conversations' with President Cyril Ramaphosa of South Africa and President Luiz Inacio Lula da Silva of Brazil, reaffirming their shared commitment to addressing issues vital to the Global South and working towards a better future for coming generations. Alongside these engagements, Prime Minister Narendra Modi also held insightful deliberations with Prime Minister Shigeru Ishiba of Japan on the sidelines of the G7 Summit in Canada. (ANI)
