City exploring splitting LDE into two organizations to operate Agri-food Hub and Trade Centre
The City of Lethbridge is exploring the possibiity of changing its management structure. (Karsen Marczuk, CTV Lethbridge)
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CTV News
2 hours ago
- CTV News
Completion date for Walker Road-Tecumseh Road construction project delayed again
The completion date for a construction project around Tecumseh Road East and Walker Road in Windsor is being pushed back again. The Tecumseh Road East infrastructure renewal project was scheduled to be completed by July but is now scheduled for completion in August due to additional work that's been identified. An ENWIN spokesperson tells AM800 News that while performing road restoration work, it was identified that additional repairs are required in order to ensure the long-term durability of the roadway. This work is being completed now, while traffic controls are already in place, to help avoid future disruptions and is anticipated to reduce the need for further major maintenance or construction in the coming years. Traffic on the west side of Walker Road will be reduced to one lane in each direction, controlled by traffic signals in late June. No left turns will be permitted at the Tecumseh/Walker intersection during this time. Ward 4 Councillor Mark McKenzie calls this latest delay ridiculous, given it was supposed to be done in Fall 2024. 'We heard back in March; they said it would be eight to 12 weeks, which would put it at the end of May. The end of May has come and gone. We were told it would be maybe the beginning or mid-July; now we're hearing it's going to be August,' he said. The current work is the continuation of a project that started in May 2024, and it includes a new 1,200-meter-long concrete water main, along with road paving and surface restoration. Along with the intersection, the work has impacted several surrounding roads, including Memorial Drive, Turner Road, Factoria Road, Milloy Street and Chandler Road, all near the Met Campus of Windsor Regional Hospital. McKenzie says he's hearing from residents every day about this project. 'You have people who are speeding up and down these residential streets now trying to avoid the delays that you're seeing on Walker Road and Tecumseh Road because of this never-ending construction project,' he said. McKenzie says he doesn't understand why this project is taking so long. 'Something needs to be done here; there need to be timelines that are set in these contracts. If these contractors can't hit these timelines, these deadlines, then they should be penalized for it. You see that in other municipalities and in the states as well,' he said. - By Rusty Thomson/AM800 News
Globe and Mail
2 hours ago
- Globe and Mail
With Growth Poised to Explode, Is Lucid Stock Finally a Buy?
(NASDAQ: LCID) appears to be one of the benefactors of Tesla 's recent stumble and fall. Lucid management noted an uptick in customers trading in their Teslas for a possibly less politically charged ride. And while the broader U.S. electric vehicle (EV) industry is struggling to grow as many anticipated, Lucid has set itself up extremely well for growth over the coming year. But does all this make it a buy finally? Let's find out. Setting records The broader EV industry might be sputtering right now, and investors might be grappling with the impact of tariffs, but Lucid has been on fire, in a good way. Lucid delivered 3,109 vehicles during the first quarter, a solid 58% jump compared to the prior year. It marked the sixth straight quarter for record deliveries, and it comes right on the cusp of Lucid accelerating production and deliveries for its most recent launch, the Gravity SUV. Lucid had only recently become satisfied with producing all the inventory needed for employees, studios, and test driving, and can now accelerate production for mainstream consumers. For investors who have grown accustomed to Lucid's strong delivery performance after years of disappointments, the good news is that the Gravity SUV should easily drive the company's results going forward. In fact, the Gravity SUV is estimated to have a market size six times that of Lucid's Air sedan. Analysts expect Lucid sales to increase 73% in 2025 and another 96% jump in 2026 compared to prior years. That's not even taking into account the upcoming midsize platform that will underpin numerous models at a more affordable price tag. Lucid's surge also comes at a good time as once-dominant EV player Tesla is facing consumer backlash due to CEO Elon Musk's brief stint in politics, which has resulted in the downward spiral of sales in key markets. In fact, Lucid's interim CEO, Marc Winterhoff, even noted there was a dramatic uptick in recent months in orders from former Tesla drivers. Is Lucid a buy now? With momentum seemingly in Lucid's corner in the near-term, despite a stagnating U.S. EV market, it might look like a good time for long-term investors to jump in. But there are a few things to consider. The first red flag came after reporting a near $400 million fourth-quarter loss when the EV maker announced that CEO Peter Rawlinson, who led the company for 12 years, would be stepping down. Lucid did its best to downplay the situation, but analysts weren't buying it, going as far to say product development could stall, consumer demand could be dampened, and additional funding opportunities could be at risk. It's also true that one of the biggest risks facing Lucid investors is the company's access to funding. The young company is rapidly burning through cash; its shareholder dilution is accelerating; and Saudi Arabia's Public Investment Fund (PIF) owns roughly 60% of Lucid through multiple investments throughout the company's life. On one hand, this is a substantially well-funded partner that gives Lucid access to much needed capital. On the other hand, being so reliant on one investor is never a good thing. Should Saudi's PIF pull support, it would be a massive overhang on the stock and make accessing funding more challenging and expensive. Ultimately, for as much momentum and potential as Lucid has, , there's too much uncertainty facing the company right now for most investors to buy in. The company needs to find the right leadership to lead the company and reassure investors. It also needs to reduce its cash burn while improving scale and margins. Plus, it needs to navigate potential industry supply disruptions, broader EV demand decline, and potential price increases due to tariffs. Lucid needs to execute the production ramp of the Gravity SUV and have it be a hit with consumers. If Lucid does all of those things, then it might be time to buy before the company goes into its next growth phase driven by a new midsize platform and more affordable price tag of around $50,000. Should you invest $1,000 in Lucid Group right now? Before you buy stock in Lucid Group, 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 Lucid Group 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 $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor 's total average return is994% — 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 9, 2025
Global News
2 hours ago
- Global News
Carney travels to Europe for security, defence talks with EU, NATO
Prime Minister Mark Carney will depart for Europe on Sunday for back-to-back summits where he is expected to make major commitments for Canada on security and defence. Carney will be joined by Foreign Affairs Minister Anita Anand, Defence Minister David McGuinty and secretary of state for defence procurement Stephen Fuhr at the EU and NATO summits, where military procurement and diversifying supply chains will top the agendas. The international meetings come as Canada looks to reduce its defence procurement reliance on the United States due to strained relations over tariffs and President Donald Trump's repeated talk about Canada becoming a U.S. state. Carney will fly first to Brussels, Belgium, starting the trip with a visit to the Antwerp Schoonselhof Military Cemetery where 348 Canadian soldiers are buried. He will also meet with Belgian Prime Minister Bart De Wever, European Council President António Costa and European Commission President Ursula von der Leyen. Story continues below advertisement At the EU-Canada summit, Anand and McGuinty are expected to sign a security and defence agreement with the EU in what one European official described Friday as one of the most ambitious deals Europe has ever signed with a third country. The agreement will open the door to Canada's participation in the ReArm Europe initiative, allowing Canada to access a 150-billion-euro loan program for defence procurement, called Security Action for Europe. An EU official briefing reporters on Friday said once the procurement deal is in place, Canada will have to negotiate a bilateral agreement with the European Commission to begin discussions with member states about procurement opportunities. A Canadian official briefing reporters on the summit Saturday said the initial agreement will allow for Canada's participation in some joint procurement projects. However, a second agreement will be needed to allow Canadian companies to bid. 1:48 Carney to increase U.S. steel, aluminum tariffs if trade talks with Trump stall At the EU-Canada summit, leaders are also expected to issue a joint statement to underscore a willingness for continued pressure on Russia, including through further sanctions, and call for an immediate and permanent ceasefire in Gaza. Story continues below advertisement After Brussels, Carney heads to The Hague in the Netherlands for the NATO leaders' summit on Tuesday and Wednesday. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy There, Carney will meet with the King of the Netherlands and later with leaders of Nordic nations to discuss Arctic and transatlantic security. At the NATO summit, Carney will take part in bilateral meetings with other leaders. The summit agenda includes a social dinner hosted by the king and queen of the Netherlands and a two-and-a-half hour meeting of the North Atlantic Council. NATO allies are expected to debate a plan to hike alliance members' defence spending target to five per cent of national GDP. NATO data shows that in 2024, none of its 32 members spent that much. The Canadian government official who briefed reporters on background says the spending target and its timeline are still up for discussion, though some allies have indicated they would prefer a seven-year timeline while others favour a decade. Canada hasn't hit a five- per- cent defence spending threshhold since the 1950s and hasn't reached the two per cent mark since the late 1980s. NATO says that, based on its estimate of which expenditures count toward the target, Canada spent $41 billion in 2024 on defence, or 1.37 per cent of GDP. That's more than twice what it spent in 2014, when the two per cent target was first set; that year, Canada spent $20.1 billion, or 1.01 per cent of GDP, on defence. Story continues below advertisement In 2014, only three NATO members achieved the two per cent target — the U.S., the U.K., and Greece. In 2025, all members are expected to hit it. Any agreement to adopt a new spending benchmark must be ratified by all 32 NATO member states. Former Canadian ambassador to NATO Kerry Buck told The Canadian Press the condensed agenda is likely meant to 'avoid public rifts among allies,' describing Trump as an 'uncertainty engine.' 'The national security environment has really, really shifted,' Buck said, adding allies next door to Russia face the greatest threats. 'There is a high risk that the U.S. would undercut NATO at a time where all allies are increasingly vulnerable.' Trump has suggested the U.S. might abandon its mutual defence commitment to the alliance if member countries don't ramp up defence spending. Story continues below advertisement 'Whatever we can do to get through this NATO summit with few public rifts between the U.S. and other allies on anything, and satisfy a very long-standing U.S. demand to rebalance defence spending, that will be good for Canada because NATO's good for Canada,' Buck said. Carney has already made two trips to Europe this year — the first to London and Paris to meet with European allies and the second to Rome to attend the inaugural mass of Pope Leo XIV.
