logo
Northeast governors invite Canadian leaders to summit on cross-border relationship

Northeast governors invite Canadian leaders to summit on cross-border relationship

Yahoo06-05-2025

Maine Gov. Janet Mills' office says a meeting in Boston with Canadian leaders could happen in 'the near future,' according to a news release. (Photo by Jim Neuger/ Maine Morning Star)
The leaders of six Northeast states extended an invitation to Canadian leaders Monday to discuss the importance of cross-border relationships amid actions from the Trump administration that have threatened them.
While additional details regarding the time and date of the meeting were not available, the leaders proposed to meet in Boston in 'the near future,' according to a news release from Maine Gov. Janet Mills' office.
'Our economies and our cultures have enjoyed strong relationships for generations, which is now strained by the president's haphazard tariffs and harmful rhetoric targeting our northern neighbors,' Mills said.
She added that she looks forward to telling her Eastern Canada counterparts that Maine values their partnerships and 'will work to ensure our historic friendship and deeply intertwined economies endure for generations to come.'
The invite came from Mills, Massachusetts Gov. Maura Healey, New York Gov. Kathy Hochul, Connecticut Gov. Ned Lamont, Rhode Island Gov. Daniel McKee, and Vermont Gov. Phil Scott — the only Republican in the group. It was sent to the premiers of New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, and Québec.
As President Donald Trump has gone back and forth on imposing tariffs, some as high as 25%, on Maine's northern neighbor, Mills, along with Maine's business community, has warned that any new tax would have a significant negative impact on the state.
In radio addresses and other statements, she has also underscored how vital Canada is to the state's economy, especially as a trade partner. Every year, Maine exports $1.4 billion in goods to Canada and in turn imports more than $5 billion worth of goods.
Mills specifically said that any new tax could increase costs for daily essentials such as gasoline and food. The most heating oil dependent state in the nation, Maine imports more than 80% of its heating fuel and gasoline from Canada, the release said.
Similarly, the agriculture sector said in early April that the tariffs could incite a trade war that would increase costs for consumers and eat away at already thin profit margins.
Mills is also concerned that Trump rhetoric about Canada could harm Maine's summer tourism season. Last year, Canadian visitors spent nearly half a billion dollars in Maine, but Mills' office said estimates show that the state could see Canadian tourists drop by about 25%.
'Whether Canadians decide to visit this summer (and we truly hope they do) or at a later time, they will always find a warm welcome in Maine,' said Carolann Ouellette, director of the Maine Office of Tourism.
While it's not clear whether or how much the tariffs will directly impact electricity, the Maine Office of Public Advocate has raised concern about the potential impact on customers, especially 58,000 ratepayers in Aroostook and Washington counties who live along the border and have little choice but to rely on Canadian energy to keep their lights on.
Maine Morning Star is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Maine Morning Star maintains editorial independence. Contact Editor Lauren McCauley for questions: info@mainemorningstar.com.
SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Andrew Peller Limited Reports Financial Results for Fourth Quarter and Fiscal Year 2025
Andrew Peller Limited Reports Financial Results for Fourth Quarter and Fiscal Year 2025

Hamilton Spectator

time23 minutes ago

  • Hamilton Spectator

Andrew Peller Limited Reports Financial Results for Fourth Quarter and Fiscal Year 2025

GRIMSBY, Ontario, June 11, 2025 (GLOBE NEWSWIRE) — Andrew Peller Limited (TSX: ADW.A / ADW.B) ('APL' or the 'Company') announced today results for the three and 12 months ended March 31, 2025. All amounts are expressed in Canadian dollars unless otherwise stated. FISCAL 2025 HIGHLIGHTS FOURTH QUARTER 2025 HIGHLIGHTS 'It was a strong overall fiscal 2025 as we continued to outperform the category, expand and win in important new channels and growth categories, while meaningfully strengthening gross margins, operating margins and free cash flow,' said Paul Dubkowski, Chief Executive Officer. 'Building on this work, we are positioning the company for long-term success and increased market share as we adapt to Ontario's evolving distribution landscape and shifting trade dynamics, and we believe this represents a meaningful opportunity as we move forward.' Mr. Dubkowski added: 'We applaud the Ontario Government's recent policy announcements and its continued support of the province's grape and wine industry. By promoting strong, competitive policies that are aligned with global best practices, and by focusing on local grape growers and wine producers, the Government is reinforcing the vital role our sector plays as a key driver of economic growth in the province. As a market leader, we remain deeply committed to investing in the long-term health and growth of the sector and the regions in which we operate.' Financial Highlights (Financial Statements and the Company's Management Discussion and Analysis for the period can be obtained on the Company's web site at ) (1) Please refer to the Company's MD&A concerning 'Non-IFRS Measures' (2) Selling and administrative expenses in fiscal 2024 include $9.5 million relating to the former CEO retirement and transition costs. These amounts are added back to calculate the Company's EBITA. Financial Review Revenue for the three months ended March 31, 2025 decreased 11.2% compared to the prior year's fourth quarter primarily due to the $5.8 million recognized as revenue at the end of fiscal 2024 which represents the full year's benefit of the revised Ontario VQA Support Program. The revenue from the VQA support program for fiscal 2025 was recognized throughout the fiscal year as eligible sales were made. The remaining decrease can be attributed to the timing of the Easter holiday season when compared to fiscal 2024 and continual adjustment of channel and shipment timing in the evolving Ontario retail market. Revenue for the year ended March 31, 2025 increased 1.0% over the prior year. The increase was attributable to sales to big box stores, partially offset by a decrease in the Company's retail stores in the second half of the fiscal year as Ontario's new beverage alcohol retail distribution guidelines took effect. The Company's retail store sales also benefited from the July strike at the LCBO. Several of the Company's other well-established trade channels performed well during the year, particularly sales to third party restaurants and hospitality locations. This strong performance is offset by softness in sales from the estate wineries and wine clubs due to lower guest traffic and reduced consumer discretionary spending due to tightening economic conditions. Gross margin as a percentage of revenue for the three months ended March 31, 2025 increased to 52.6% from 41.8% mainly due to the inclusion of $9.8 million from the Ontario Grape Support Program (OGSP). As the OGSP program is intended to increase the content of domestic grapes in blended wines, the support is recognized as a reduction to cost of goods sold when eligible wine is sold. For the year ended March 31, 2025, gross margin as a percentage of revenue increased to 42.8% from 39.0%. The increase can be attributed to lower costs for glass bottles and inbound freight due to the cost savings programs implemented by the Company, and the inclusion of the OGSP. Gross margin is also continuing to be impacted by channel mix and inflationary cost pressures in concentrate, packaging and other raw materials. In response to these margin pressures, the Company is continuing to execute cost savings programs and formulation changes relating to these inputs. For the year ended March 31, 2025, these programs have resulted in $10.7 million of cost savings (2024 - $9.3 million). As a percentage of revenue, selling and administrative expenses decreased to 34.7% and 26.6% for the three months and year ended March 31, 2025, respectively, compared to 42.1% and 28.4% in the prior year. Selling and administrative expenses in the fourth quarter of fiscal 2024 included $6.5 million relating to the retirement allowance and consulting agreements entered into as part of John Peller's retirement and transition and $3.0 million in legal and advisory fees incurred by certain shareholders in connection with these agreements. Offsetting the non-recurring expenses from 2024, was higher compensation and higher selling costs as a result of the strong performance in fiscal 2025. Earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes ('EBITA') (see 'Non-IFRS Measures' section of this MD&A) was $13.5 million in the fourth quarter of fiscal 2025, compared to $9.3 million in the fourth quarter of prior year. EBITA increased to $62.9 million for the year ended March 31, 2025 compared to $50.3 million in prior year period. Interest expense for the three months and year ended March 31, 2025 has decreased by 22.4% and 4.4% respectively compared to the prior year due to lower average debt levels and lower interest rates in fiscal 2025 compared to prior year. The Company recorded a net unrealized non-cash loss in fiscal 2025 of $1.8 million related to mark-to-market adjustments on interest rate swaps and foreign exchange contracts compared to a loss of $0.6 million in the prior year. The Company recorded a loss of $0.7 million in the fourth quarter of fiscal 2025 compared to a gain of $1.0 million in the same quarter in the prior year. The Company has elected not to apply hedge accounting and accordingly the change in fair value of these financial instruments is reflected in the Company's consolidated statement of earnings (loss) each reporting period. These instruments are considered to be effective economic hedges and are expected to mitigate the short-term volatility of changing foreign exchange and interest rates. Other expenses (income), net were $0.6 million and $3.5 million for the three months and year ended March 31, 2025. The expense in fiscal 2025 related primarily to a restructuring initiative completed in fiscal year to align the Company's business structure with the changing retail landscape in Ontario. During the year ended March 31, 2025, the Company undertook certain tax planning initiatives as it relates to capital gains with respect to the Port Moody lands. This included transferring the beneficial interest in the land to a newly registered partnership. All parties associated with the limited partner are within the consolidated APL group and there has been no legal ownership change. In March 2025, the Government of Canada announced the cancellation of the previously proposed legislation changes to the capital gains inclusion rate. Consequently, the beneficial interest in the Port Moody lands was transferred at cost rather than at fair value as originally contemplated. The transaction had no impact on the Company's operating results or cash flows. The Company incurred a net loss of $0.7 million (loss of $0.02 per Class A share) for the fourth quarter of fiscal 2025 compared to a net loss of $6.9 million (loss of $0.17 per Class A share) in the fourth quarter of the prior year. For the year ended March 31, 2025, the Company generated net earnings of $11.1 million ($0.26 per Class A share) compared to a net loss of $2.9 million (loss of $0.07 per Class A Share) in the prior year. Investor Conference Call The Company will hold a conference call to discuss the results on Thursday, June 12, 2025 at 10:00 a.m. ET. Paul Dubkowski, CEO, Renee Cauchi, CFO and Patrick O'Brien, President and CCO, will host the call, with a question and answer period following management's presentation. Conference Call Dial In Details: Date: Thursday, June 12, 2025 Time: 10:00 a.m. (ET) Dial-in numbers: Local Toronto / International: (437) 900-0527 North American Toll Free: (888) 510-2154 RapidConnect: Webcast: A live webcast will be available at Replay: Following the live call, a recording will be available on the Company's investor relations website at About Andrew Peller Limited Andrew Peller Limited is one of Canada's leading producers and marketers of quality wines and craft beverage alcohol products. The Company's award-winning premium and ultra-premium Vintners' Quality Alliance brands include Peller Estates, Trius, Thirty Bench , Wayne Gretzky, Sandhill, Red Rooster, Black Hills Estate Winery, Tinhorn Creek Vineyards, Gray Monk Estate Winery, Raven Conspiracy, and Conviction . Complementing these premium brands are a number of popularly priced varietal offerings, wine-based liqueurs, craft ciders, and craft spirits. The Company owns and operates 101 well-positioned independent retail locations in Ontario under The Wine Shop, Wine Country Vintners, and Wine Country Merchants store names. The Company also operates Andrew Peller Import Agency and The Small Winemaker's Collection Inc., importers and marketing agents of premium wines from around the world. With a focus on serving the needs of all wine consumers, the Company produces and markets premium personal winemaking products through its wholly owned subsidiary, Global Vintners Inc., the recognized leader in personal winemaking products. More information about the Company can be found at . The Company utilizes EBITA (defined as earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes) to measure its financial performance. EBITA is not a recognized measure under IFRS. Management believes that EBITA is a useful supplemental measure to net earnings, as it provides readers with an indication of earnings available for investment prior to debt service, capital expenditures, and income taxes, as well as provides an indication of recurring earnings compared to prior periods. Readers are cautioned that EBITA should not be construed as an alternative to net earnings determined in accordance with IFRS as indicators of the Company's performance or to cash flows from operating, investing, and financing activities as a measure of liquidity and cash flows. The Company also utilizes gross margin (defined as revenue less cost of goods sold, excluding amortization). The Company's method of calculating EBITA and gross margin may differ from the methods used by other companies and, accordingly, may not be comparable to measures used by other companies. Andrew Peller Limited common shares trade on the Toronto Stock Exchange (symbols ADW.A and ADW.B). FORWARD-LOOKING INFORMATION Certain statements in this news release may contain 'forward-looking statements' within the meaning of applicable securities laws including the 'safe harbour provisions' of the Securities Act (Ontario) with respect to APL and its subsidiaries. Such statements include, but are not limited to, statements about the growth of the business; its launch of new premium wines and craft beverage alcohol products; sales trends in foreign markets; its supply of domestically grown grapes; and current economic conditions. These statements are subject to certain risks, assumptions, and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. The words 'believe', 'plan', 'intend', 'estimate', 'expect', or 'anticipate', and similar expressions, as well as future or conditional verbs such as 'will', 'should', 'would', 'could', and similar verbs often identify forward-looking statements. We have based these forward-looking statements on our current views with respect to future events and financial performance. With respect to forward-looking statements contained in this news release, the Company has made assumptions and applied certain factors regarding, among other things: future grape, glass bottle, and wine and spirit prices; its ability to obtain grapes, imported wine, glass, and other raw materials; fluctuations in foreign currency exchange rates; its ability to market products successfully to its anticipated customers; the trade balance within the domestic Canadian and international wine markets; market trends; reliance on key personnel; protection of its intellectual property rights; the economic environment; the regulatory requirements regarding producing, marketing, advertising, and labelling of its products; the regulation of liquor distribution and retailing in Ontario; the application of federal and provincial environmental laws; and the impact of increasing competition. These forward-looking statements are also subject to the risks and uncertainties discussed in this news release, in the 'Risks and Uncertainties' section and elsewhere in the Company's MD&A and other risks detailed from time to time in the publicly filed disclosure documents of Andrew Peller Limited which are available at . Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which could cause actual results to differ materially from those conclusions, forecasts, or projections anticipated in these forward-looking statements. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The Company's forward-looking statements are made only as of the date of this news release, and except as required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new information, future events or circumstances or otherwise. For more information, please contact: Craig Armitage and Jennifer Smith ir@ Source: Andrew Peller Limited

Permitless concealed carry in North Carolina faces uphill battle after some GOP pushback
Permitless concealed carry in North Carolina faces uphill battle after some GOP pushback

Hamilton Spectator

time23 minutes ago

  • Hamilton Spectator

Permitless concealed carry in North Carolina faces uphill battle after some GOP pushback

RALEIGH, N.C. (AP) — A bill to let adults carry concealed handguns without a permit cleared the North Carolina legislature on Wednesday, however the path to joining the majority of U.S. states with similar laws remains uncertain. The GOP-backed legislation faces a likely veto from Democratic Gov. Josh Stein, as well as pushback from a handful of Republicans who voted against the legislation in the state House. House Speaker Destin Hall acknowledged those concerns after Wednesday's vote. 'I would imagine that — math being math — that it's probably a low percentage relative to other bills,' Hall told reporters. If the bill becomes law, North Carolina would become the 30th state in the country to legalize permitless carrying of a concealed handgun, according to the National Conference of State Legislatures. North Carolina would also be one of the last states in the Southeast to implement that legislation. The legislation allows for eligible people with valid identification over the age of 18 to carry a concealed handgun. More than half of states with permitless concealed carry set their age limit at 21 and older, while the rest have the legal carrying age at 18, according to the NCSL. Currently, a person must be 21 and older to obtain a concealed handgun permit in North Carolina. To qualify, an applicant must pass a firearms safety training course and not 'suffer from a physical or mental infirmity that prevents the safe handling of a handgun,' according to state law. Approving permitless concealed carry has been a goal of gun-rights activists in North Carolina for years, with House Republicans historically supportive of the idea. Some see it as the next step after Republican lawmakers successfully eliminated the permit system that required sheriffs to conduct character evaluations and criminal history checks for pistol applicants in 2023. Conservative advocates for the bill say it would strengthen Second Amendment rights for North Carolinians. Republican lawmakers also disputed that the bill would make the state more dangerous, as 'law-abiding citizens' would be the only people that would benefit from the permit elimination, not criminals, Republican Rep. Brian Echevarria said. 'Rights to keep and bear arms are constitutionally inseparable,' Echevarria said. 'If a person cannot own a firearm, they cannot bear a firearm.' The bill's passage tees up one of the first opportunities for a likely veto from Stein if he stays aligned with his fellow Democrats in the legislature. Stein has a more powerful veto stamp than his predecessor Roy Cooper , after Republicans lost their House supermajority last year that allowed them to override vetoes and enact their legislative agenda with relative ease. Now, House Republicans would need to count on a Democrat to join in their override efforts. Reaching that goal seems especially daunting, considering all of the present House Democrats — and two Republicans — voted against the bill. The governor's office didn't respond to a request for comment on the legislation, but House Deputy Democratic Leader Cynthia Ball said in a committee Tuesday that Stein was opposed to it. Several Democratic legislators said it would make communities unsafe by loosening who can carry a concealed handgun without training. Democrats also raised issue with the age limit set in the bill, saying it would put guns in the hands of young people who aren't yet mature enough to have one. 'Do you not remember when you were 18? We are prone and so susceptible to peer pressure, we are hotheaded, we are emotional,' Democratic Rep. Tracy Clark said on the House floor after retelling her personal experience of losing two friends in college to gun violence. Those seeking a permit for their concealed handgun — such as for the purpose of traveling with a firearm to a state that requires a permit — would still be able to do so. The bill also heightens the felony punishment for those who assault law enforcement officers or first responders with a firearm. A separate bill that makes gun safety courses available at North Carolina community colleges for people 18 and up passed in a near-unanimous House vote directly after the concealed carry permit repeal legislation was approved. ___ Associated Press writer Gary D. Robertson in Raleigh contributed to this report. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. 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. Want more of the latest from us? Sign up for more at our newsletter page .

Congress demands investigation into billionaire funding radical groups, including one linked to LA riots
Congress demands investigation into billionaire funding radical groups, including one linked to LA riots

New York Post

time26 minutes ago

  • New York Post

Congress demands investigation into billionaire funding radical groups, including one linked to LA riots

A shadowy US billionaire who is bankrolling radicals, including groups involved in this week's riots in Los Angeles, faces being hauled before a Congressional committee, according to a Republican lawmaker. China-based Neville Roy Singham will be called to testify about his funding of myriad non-profits including radical anti-Israel and Marxist groups. They include the Party for Liberation and Socialism, which has been heavily involved in protest against US Immigration and Customs Enforcement (ICE) agents in Los Angeles this week, although there is no evidence they have been directly involved in any of the violence which has erupted there. Advertisement 6 The Party for Socialism and Liberation was among the radical left-wing groups that helped organize the riots against ICE in Los Angeles this week. Toby Canham for NY Post 'If he refuses to appear, he will be subpoenaed, and if he ignores that he will be referred to the DOJ for prosecution,' said Florida Rep. Anna Paulina Luna in a post on X in all capital letters earlier this week. The congressional committee will be looking at Singham's links to the Chinese Communist Party, according to Luna. Advertisement 6 Radical philanthropists Jodie Evans (center) and husband Roy Singham attend the 2016 TriBeCa film fstival with film producer Abigail Disney. WireImage 6 Elias Rodriguez, the suspect in the murder of two Israeli embassy staffers in Washington DC, participated in an anti-police brutality demonstration organized by the Party for Socialism and Liberation in 2017. Katie Kalisher via Storyful In April, the Senate Committee on the Judiciary urged the Department of Justice to investigate the People's Forum and Code Pink, leftist activist groups affiliated with Singham and his wife Jodie Evans. Born in Chicago, the software entrepreneur and his activist wife now live in Shanghai but still funnel plenty of money back to the US. Advertisement Although they deny working for the Chinese government, they share offices with the Maku Group, a propaganda network which promotes the Chinese Communist Party abroad. 6 Jodie Evans is a co-founder of Code Pink, a women's anti-war group that also promotes North Korea. Getty Images for MoveOn 'Evidence suggests that The People's Forum and Code Pink have been funded and influenced by … Singham and the communist Chinese government, both of which are foreign principals. 'The evidence also suggests that The People's Forum and Code Pink have engaged in political activities that directly advance the communist Chinese government's political and policy interests,' said committee chairman Chuck Grassley (R-Iowa). Advertisement 6 Republican Representative Anna Paulina Luna has demanded that Neville Singham appear before her Oversight Committee to answer questions about his links to the Chinese Communist Party. AP Last year, the House Ways and Committee asked the IRS to revoke the exempt status for the People's Forum, a Manhattan-based non-profit financed by Singham. That group helped organize anti-Israel demonstrations in the city a day after the October 7, 2023 Hamas attack on Israel that left 1,200 Israelis dead. Some of the group's members were also behind the violent demonstrations at an encampment for Gaza at Columbia University last year. 'The Singham network operates as a coordinated movement incubator, a term used by the People's Forum itself,' said Alex Goldberg, senior advisor to the National Contagion Research Institute, a think tank that tracks disinformation on social media platforms. 'It combines media, publishing and organizing under one roof.' Most of the groups linked to Singham operate out of a Chelsea, New York, office and cafe where People's Forum regularly offers courses with titles such as 'Racial Capitalism' and 'Spanish for Social Justice.' 6 The protests against ICE in Los Angeles this week were partly organized by the Party for Socialism and Liberation. Toby Canham for NY Post Among the Singham-linked non-profits are BreakThrough News and a radical book publishing company, 1804 Books. Advertisement 'These groups do not operate independently,' Goldberg told The Post. 'They share leadership, funding, and a unified ideological mission closely aligned with the Party for Socialism and Liberation, a revolutionary Marxist organization, expanding its presence on college campuses and in major cities.' The Party for Socialism and Liberation was recently tied to Elias Rodriguez, the suspect in the shooting deaths of two Israeli embassy staffers in Washington DC last month. In 2017, Rodriguez attended a police brutality demonstration as part of the radical socialist group, which immediately distanced itself from him in the wake of the shooting. Singham, 71, has not always been against the accumulation of capital. He is the founder and former chair of Thoughworks, a tech consulting company which he sold to a private equity firm in 2017 for $785 million. 'Roy Singham is incredibly charismatic,' said a source who did not want to be identified. Advertisement Evans, 70, co-founded the anti-war group Code Pink, and sits on the board of the People's Forum. She is the co-author of 'China is not our enemy,' written with Mikaela Nhondo Erskog, a researcher at another group funded by Singham. In another extreme example, Evans and another activist with Code Pink traveled to North Korea in 2015 as part of a delegation of 'Women Cross DMZ,' a pro-North Korean non-profit based in Hawaii.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store