Sault, other officials working on response to U.S. steel tariffs
Industry and labour leaders in the Sault have been meeting to formulate a response to the sudden doubling of steel tariffs by the U.S.
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National Post
an hour ago
- National Post
Canada Post rejects union terms for arbitration as both sides enter bitter stalemate
Canadian Union of Postal Workers (CUPW) President Jan Simpson, second from right, takes part in a Canada Post rally outside of the Prime Minister's Office in Ottawa, on Saturday. Photo by Spencer Colby / Postmedia MONTREAL — A government push to steer Canada Post and the union representing 55,000 mail workers toward common ground hit a big pothole Monday. THIS CONTENT IS RESERVED FOR SUBSCRIBERS Enjoy the latest local, national and international news. Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events. Unlimited online access to National Post. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles including the New York Times Crossword. Support local journalism. SUBSCRIBE FOR MORE ARTICLES Enjoy the latest local, national and international news. Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events. Unlimited online access to National Post. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors As an increasingly acrimonious impasse drags on, Canada Post rejected a framework put forward by the union for a binding arbitration process, which Jobs Minister Patty Hajdu asked the parties to work toward just five days earlier. Canada Post spokeswoman Lisa Liu said the Canadian Union of Postal Workers has effectively refused to take heed of a federally commissioned report that called for major reforms to the 158-year-old institution, including more flexible routes and part-time weekend positions with similar pay rates and benefits. Get a dash of perspective along with the trending news of the day in a very readable format. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again 'The union's refusal to recognize the IIC (industrial inquiry commission) report and its recommendations in their proposed terms of reference for arbitration is unacceptable,' she said in a statement. The Canadian Union of Postal Workers said its goal remains a return to the bargaining table to hammer out a new contract. 'However, Canada Post's actions suggest it does not want to negotiate. It wants to rewrite our agreements — and is seeking to use government interference to further its goals,' the union said in a release Monday. Canada Post questioned that claim, noting that the union has not responded to its latest offer from May 28. The two sides exchanged some information on Thursday and Friday through federal mediators, but have had little contact since, the Crown corporation added. Meanwhile, the union called on members to sign a letter to the minister opposing the prospect of a forced vote on Canada Post's 'final offers.' The letter says that such a move — requested by Canada Post _ would amount to government interference, tip the scales in the employer's favour and potentially sow division in the ranks of employees. 'The issues will remain contentious among some, most or all of the membership, depending upon how the vote goes,' the Sunday missive states, adding that resulting resentment would undermine labour peace. Union president Jan Simpson hinted at possible rifts within the membership last week, saying in an update that 'although tensions are high, let's not forget our fight is with the employer, not one another.' Canada Post's last proposal includes an end to compulsory overtime, signing bonuses of between $500 and $1,000 and cost-of-living payments that are triggered at a lower inflation threshold.
Globe and Mail
an hour ago
- Globe and Mail
Want $1 Million in Retirement? Invest $100,000 in These 3 Stocks and Wait a Decade
The right stocks can turbocharge your stock portfolio and set you up for a comfortable retirement. However, there are nuances to investing in growing companies. Sure, a home run stock can make you a millionaire on its own. However, if it were easy, there would be many more millionaires. The hit rate is low, so investors are usually better off looking for proven winners that still have plenty of life left in them. 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 » The world's largest technology companies are driving ongoing growth trends, including e-commerce, digital advertising, and cloud computing. These same companies could also benefit from upcoming opportunities in artificial intelligence (AI). Investing $100,000 into each of these "Magnificent Seven" stocks as part of a diversified portfolio could yield a million dollars a decade from now. Here are their names, and why they could make you serious money well into the future. 1. Amazon E-commerce is Amazon 's (NASDAQ: AMZN) core business, and the carrot that draws consumers into its Prime membership and ecosystem. However, Amazon is just as much a technology company as any. It operates the world's leading cloud platform, Amazon Web Services, which holds an estimated 30% share of the global cloud infrastructure market. AWS is Amazon's cash cow, contributing over half of the company's total operating income despite representing just a fraction of its total revenue. That's especially important, given that AI is arguably the most prominent growth trend of the upcoming decade. AI, like most modern software, primarily runs on the cloud. AI applications are already driving significant growth for cloud capacity, prompting Amazon and other cloud companies to invest billions of dollars in building data centers to handle the load. Amazon's valuation, a PEG ratio of 2, is reasonable for its estimated 17% long-term earnings growth. In other words, the stock's investment returns should reflect that growth over time. If so, cloud tailwinds from AI should boost Amazon's most profitable business and could more than double earnings and the stock over the next decade. 2. Alphabet (Google) Most investors know Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) for Google Search, but it's a diversified tech giant. It owns YouTube, Android smartphone software, and Google Chrome, develops AI software and quantum computers, and continues to expand Waymo, a ride-hailing service using self-driving vehicles. Its massive size and broad reach make it highly likely that Alphabet will compete in AI and the opportunities it creates over the coming decade. Wall Street anticipates Alphabet growing its earnings by an average of 15% annually over the long term, despite some fears that AI chatbots could disrupt Google Search, Alphabet's core business. Investors shouldn't dismiss this risk, but fear has priced the stock at a compelling PEG ratio of 1.3, assuming the company meets Wall Street's growth estimates. If it does, investors could eventually see returns exceed Alphabet's growth if sentiment rebounds and drives the valuation higher. Alphabet's anticipated double-digit growth and depressed valuation make it a candidate for substantial returns over the next decade. 3. Meta Platforms Last but not least is Meta Platforms (NASDAQ: META), the parent company of social media apps such as Facebook, Instagram, WhatsApp, and Threads. The company is immensely profitable, generating $50 billion in free cash flow over the past four quarters from ads shown to the 3.43 billion people who use Meta's social apps each day. Meta Platforms still has firm long-term leadership; CEO and co-founder Mark Zuckerberg is still only 41 years old. He has been pushing the company toward AI for several years, using AI technology to optimize its core advertising business, and launching an open-sourced AI model with over a billion downloads, and is working to establish Meta Platforms as a key player in next-generation consumer electronics. Meta Platforms has rallied and is up significantly over the past few years. Yet the stock's PEG ratio (1.5) remains attractive for prospective investors, and Meta's estimated long-term earnings growth rate of 18% suggests there is enough upside for the stock to double or more over the coming decade. Meta Platforms must still monetize more of its AI projects, but if successful, investors will be glad they have this company in their portfolio over the next decade. Should you invest $1,000 in Amazon right now? Before you buy stock in Amazon, 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 Amazon 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 $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor 's total average return is792% — a market-crushing outperformance compared to173%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. *Stock Advisor returns as of June 9, 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. Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, and Meta Platforms. The Motley Fool has a disclosure policy.
Globe and Mail
2 hours ago
- Globe and Mail
Ontario's planned crackdown on exclusivity deals could go further, pharmacy regulator says
The board of Ontario's pharmacy regulator said on Monday the province's proposed new restrictions on exclusivity deals between insurers and pharmacies were a good step, but should go further to protect patient safety. Ontario recently began a second public consultation on preferred provider (or pharmacy) networks (PPNs), a type of deal between pharmacies and insurers that can restrict where patients get medication. The consultation proposes two options for restricting the deals: 'any able and willing provider' legislation that would allow any pharmacy to join an insurer's network if they met the necessary criteria; and 'standardized and mandatory exemptions' that would allow any patient to go outside a network if they met conditions set by a regulator. The province leaves it open to whether it could pursue either, both or neither option. The board of the Ontario College of Pharmacists has been discussing a potential crackdown on PPNs since early last year, even passing a motion expressing 'zero tolerance' for closed networks last July. The board discussed the latest consultation at its meeting Monday. A briefing document prepared and distributed by college staff ahead of time suggested the province's proposals could be 'strengthened' to meet the regulator's goals of guaranteeing patient choice, continuity of care and access to care. Ontario regulator condemns exclusive deals between pharmacies, insurance companies Board chair Doug Brown, who owns and runs a pharmacy in the town of Port Perry, said he acknowledged that there was frustration in the community 'over what is perceived to be the lack of progress on this issue.' However, he said the consultation – which is run by Ontario's Ministry of Finance – crosses multiple industries and needs to be done carefully. He said any new actions undertaken by the college could be undone depending on how the legislation is eventually drafted, and so it would be prudent for the regulator to wait for now. 'But let me be absolutely clear, the college is prepared to move quickly and decisively once the government has confirmed what it will or won't do to address the clear concerns that remained unresolved,' he said. Most board members expressed support for the province's proposed options. Elnora Magboo, one of the board's public members, asked during the meeting whether PPNs could provide greater access to medication because of savings negotiated between the agreement's participants. Ontario considers rule to limit exclusivity deals between insurers and pharmacies Insurers have argued PPNs are useful tools to keep costs down. They say the deals allow them to negotiate discounts from pharmacies that they pass on to plan sponsors. But some of the board's independent pharmacists, who are often kept out of these networks in favour of large chain pharmacies, pushed back on the idea that there are cost savings, and raised other concerns with the deals. Siva Sivapalan, a community pharmacist in Beamsville, raised a witness the board heard from last July, whose medication was delivered by a network pharmacy to a non-refrigerated area at the back of a craft store. That witness – a teacher from Waterloo named Amy Miller – lodged a complaint with the network pharmacy last summer. In the months since, she has expressed frustration at the slow pace of the college's investigation and the difficulty in obtaining her medication from her preferred source. 'Every month that passes without a decision makes my access to care more uncertain,' Ms. Miller wrote in a letter sent to the board in May, which she shared with The Globe and Mail. 'Every delay deepens the harm. And every public statement you make about protecting patients becomes more hollow.' College spokesperson Dave Bourne said the regulator could not share details about Ms. Miller's case, but continues to investigate concerns about PPNs. Speaking generally, he said some complaints are complex and time-consuming to investigate. 'We understand Ms. Miller's frustration with the time being taken to address her complaint, and we empathize with her situation,' he said in an e-mail.
