Trump rails at ‘TACO' buzzword mocking his tariff flip-flops
A U.S trade court blocked some of Donald Trump's tariffs, ruling he overstepped his authority as the president expressed frustration with a new Wall Street buzzword mocking his erratic trade policies.
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Globe and Mail
9 minutes ago
- Globe and Mail
Should You Invest $1,000 in ExxonMobil Today?
ExxonMobil (NYSE: XOM) is an undisputed leader in the oil industry. With a roughly $450 billion market cap, it's the world's biggest international oil company (IOC) -- that is, not state-owned. It leads IOCs in nearly every metric that matters, including earnings, cash flow, and returns. While ExxonMobil is a leader in today's energy industry, its ability to maintain its leadership will be a crucial factor in fueling its ability to grow shareholder value in the future. Here's a look at whether ExxonMobil is worth investing $1,000 into today. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » The best-run oil company by far ExxonMobil delivered industry-leading performance during the first quarter. Even more impressive is that the oil company didn't just beat its peers; it absolutely crushed them. For example, the company led all IOCs by producing $7.7 billion in earnings and $13 billion in cash flow from operations in the first quarter. Here's a look at how that compared with its peers in the period: XOM Net Income (Quarterly) data by YCharts One factor driving Exxon's much higher earnings is its industry-leading structural cost savings initiative. Since launching that program in 2019, Exxon has delivered a cumulative $12.7 billion in structural cost savings. That's more than all other IOCs combined. Exxon is on track to deliver a total of $18 billion in structural cost savings by 2030. That's more than most of its peers aim to deliver. For example, Chevron unveiled a plan last year to achieve $2 billion to $3 billion of structural cost savings by the end of next year. Exxon also leads its peers in several other crucial categories. It has a 7% net debt-to-capital ratio, and 12% after stripping out its massive cash balance, which leads all IOCs. That's well below the average leverage ratio of its peer group and for a company in the S&P 500, which is closer to 20%. The oil giant also leads in delivering value for shareholders. It returned $9.1 billion of cash to investors in the first quarter, including an industry-leading $4.8 billion of share repurchases. Exxon also leads the oil sector in dividend growth. It has increased its dividend payment for 42 straight years, a feat only 5% of companies in the S&P 500 have achieved. Building on its leadership Exxon aspires to build an even better energy company in the coming years. By 2030, it aims to deliver the potential for $20 billion in additional annual earnings and $30 billion in cash flow, assuming a roughly $65 price for Brent oil, the global benchmark, which is right around the current level. That's a massive step up from the $33.7 billion of earnings and $55 billion in cash flow from operations it delivered last year, which was its third-best year in a decade, even though commodity prices were around their historical averages. This forecast implies that the company will deliver compound annual growth rates of 10% for its earnings and 8% for its cash flow over the next several years. A major factor fueling that growth is Exxon's plan to invest about $140 billion into major capital projects, including up to $30 billion of lower carbon investment opportunities, and its Permian Basin development program through 2030. It's pouring this capital into its lowest-cost and highest-margin assets. The company expects this capital to generate robust returns of more than 30% over the life of the investment. On top of that, the company plans to continue executing its structural cost savings program. Exxon anticipates those investments will generate about $165 billion in surplus cash over that period. That will give the oil giant more money to return to shareholders through a growing dividend and a meaningful share repurchase program. Assuming reasonable market conditions, the company plans to repurchase $20 billion of its shares this year and another $20 billion next year. The company's plan will also put it in a stronger position to weather lower oil prices in the future. By stripping out additional structural costs and investing in its lowest-cost assets, Exxon will steadily lower its breakeven level, enhancing its ability to produce strong earnings and cash flow at lower oil prices. A worthwhile investment ExxonMobil is the best-run company in the oil patch. It has a long history of wisely investing capital to grow shareholder value. The company currently plans to deliver 10% compound annual earnings growth through 2030, assuming a relatively conservative oil price point. Add that to its nearly 4%-yielding dividend, and Exxon has robust total return potential. While an unexpected plunge in oil prices could negatively affect Exxon's plan, it's putting itself in a better position to thrive at lower prices in the future. That makes Exxon look like a great place to invest $1,000 right now for those seeking a lower-risk way to invest in the oil sector. Should you invest $1,000 in ExxonMobil right now? Before you buy stock in ExxonMobil, 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 ExxonMobil 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
CTV News
2 hours ago
- CTV News
What you need to know after Trump banned citizens of 12 countries from entering the U.S.
An Afghan person passes in front of an air travel agency in Kabul, Afghanistan, Thursday, June 5, 2025. (AP Photo/Ebrahim Noroozi) DAKAR, Senegal -- U.S. President Donald Trump has banned citizens of 12 countries from entering the United States and restricted access for those from seven others, citing national security concerns in resurrecting and expanding a hallmark policy of his first term that will mostly affect people from Africa and the Middle East. The ban announced Wednesday applies to citizens of Afghanistan, Myanmar, Chad, the Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. The heightened restrictions apply to people from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela who are outside the U.S. and don't hold a valid visa. The policy takes effect Monday at 12:01 a.m. and does not have an end date. Here's what to know about the new rules: How Trump justified the ban Since returning to the White House, Trump has launched an unprecedented campaign of immigration enforcement that has pushed the limits of executive power and clashed with federal judges trying to restrain him. The travel ban stems from a Jan. 20 executive order Trump issued requiring the Department of State, Department of Homeland Security and the Director of National Intelligence to compile a report on 'hostile attitudes' toward the U.S. The aim is to 'protect its citizens from aliens who intend to commit terrorist attacks, threaten our national security, espouse hateful ideology, or otherwise exploit the immigration laws for malevolent purposes,' the administration said. In a video posted on social media, Trump tied the new ban to a terrorist attack Sunday in Boulder, Colorado, saying it underscored the dangers posed by some visitors who overstay visas. The man charged in the attack is from Egypt, a country that is not on Trump's restricted list. U.S. officials say he overstayed a tourist visa. Who is exempt from the ban Green card holders Dual citizens, including U.S. citizens who also have citizenship of one of the banned countries Some athletes: athletes and their coaches travelling to the U.S. for the World Cup, Olympics or other major sporting event as determined by the U.S. secretary of state Afghans who worked for the U.S. government or its allies in Afghanistan and are holders of Afghan special immigrant visas Iranians belonging to an ethnic or religious minority who are fleeing prosecution Certain foreign national employees of the U.S. government who have served abroad for at least 15 years, and their spouses and children People who were granted asylum or admitted to the U.S. as refugees before the ban took effect People with U.S. family members who apply for visas in connection to their spouses, children or parents Diplomats and foreign government officials on official visits Those travelling to UN headquarters in New York solely on official UN business Representatives of international organizations and NATO on official visits in the U.S. Children adopted by U.S. citizens. Which countries are affected Trump said nationals of countries included in the ban pose 'terrorism-related' and 'public-safety' risks, as well as risks of overstaying their visas. He also said some of these countries had 'deficient' screening and vetting or have historically refused to take back their citizens. His findings rely extensively on an annual Homeland Security report about tourists, businesspeople and students who overstay U.S. visas and arrive by air or sea, singling out countries with high percentages of nationals who remain after their visas expired. 'We don't want them,' Trump said. The inclusion of Afghanistan angered some supporters who have worked to resettle its people. The ban makes exceptions for Afghans on special immigrant visas, who were generally the people who worked most closely with the U.S. government during the two-decade war there. The list can be changed, the administration said in a document, if authorities in the designated countries make 'material improvements' to their own rules and procedures. New countries can be added 'as threats emerge around the world.' Reactions to Trump's order Venezuela President Nicolas Maduro's government condemned the travel ban, characterizing it in a statement as a 'stigmatization and criminalization campaign' against Venezuelans, who have been targeted by the Trump administration's immigration crackdown. Chad President Mahamat Deby Itno said his country would suspend visas for U.S. citizens in response to the ban. Aid and refugee resettlement groups also denounced it. 'This policy is not about national security -- it is about sowing division and vilifying communities that are seeking safety and opportunity in the United States,' said Abby Maxman, president of Oxfam America. The Council on American-Islamic Relations, the nation's largest Muslim civil rights and advocacy organization, called the order 'unnecessary, overbroad and ideologically motivated.' And the National Immigration Law Center said it was 'outraged' and that the ban is 'laced with unsubstantiated legal justifications.' 'The impact of this new ban will be deeply racialized, as it will effectively bar hundreds of millions of Black and Brown people from entering the United States,' the group said in a statement. But reactions to the ban ran the gamut from anger to guarded relief and support. In Haiti, radio stations received a flurry of calls Thursday from angry listeners, including many who said they were Haitians living in the U.S. and who accused Trump of being racist, noting that the people of many of the targeted countries are Black. In Miami, restaurant owner Wilkinson Sejour said most of his employees and customers are from Haiti and that the ban will hurt his business in a 'domino effect.' He suggested that Haiti was targeted because most Haitians vote Democrat. Jaylani Hussein, who heads CAIR's Minnesota chapter, said his compatriots in the Twin Cities' large Somali American community had been expecting Trump's order, but didn't know the details until its release. 'It's a lot better than maybe some of the worst fears of what we initially thought could come out. But it significantly impacts the Somali community, there's no way around it,' he said. William Lopez, a 75-year-old property investor who arrived from Cuba in 1967, supports the travel ban. 'These are people that come but don't want to work, they support the Cuban government, they support communism,' Lopez said at a restaurant near Little Havana in Miami. 'What the Trump administration is doing is perfectly good.' How the ban is different from 2017 Early in Trump's first term, he issued an executive order banning travel to the U.S. by citizens of seven predominantly Muslim countries, including Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen. It was one of the most chaotic and confusing moments of his young presidency. Travelers from those nations were either barred from getting on flights to the U.S. or detained at U.S. airports after they landed. They included students and faculty, as well as businesspeople, tourists and people visiting friends and family. The order, often referred to as the 'Muslim ban' or the 'travel ban,' was retooled amid legal challenges until a version was upheld by the Supreme Court in 2018. The ban affected various categories of travelers and immigrants from Iran, Somalia, Yemen, Syria and Libya, plus North Koreans and some Venezuelan government officials and their families. ------ By Monika Pronczuk Associated Press reporters Evens Sanon in Port-au-Prince, Haiti, and Danica Coto in San Juan, Puerto Rico, contributed.
CTV News
2 hours ago
- CTV News
Window air conditioners pulled in Canada after reports of respiratory issues linked to mould
Health Canada urges consumers to stop using these window air conditioners immediately over mould concerns. (Handout) Tens of thousands of window air conditioners are being recalled in Canda due to the potential risk of mould exposure, which could lead to respiratory symptoms, according to Health Canada. The health agency says U and U+ window air conditioners were made by Midea and sold in brand names including Midea, Comfort Aire, Danby, Insignia, Keystone and more. The recall is a joint effort from Health Canada, the U.S. Consumer Product Safety Commission (USCPSC) and GD Midea Air-Conditioning Equipment. To see the full list including the model numbers visit Health Canada's website. 'Pooled water in the air conditioners can fail to drain quickly enough, which can lead to mould growth,' the recall notice said. 'Mould exposure poses risks of respiratory issues or other infections to some consumers.' Nearly 46,000 units were sold in Canada, while 1.7 million were sold across the U.S. The affected units were sold from March 2020 to May 2025. While there have no confirmed health-related incidents in Canada, the company has received five Canadian reports of mould found in the units as of June 3. In the U.S., the company has received 152 reports of mould, including 17 cases where consumers reported symptoms such as coughing, sneezing, sore throats, allergic reactions or respiratory infections that may be linked to mould exposure. Health Canada urges consumers to contact the company for a free repair or refund which will be based on the purchase or manufacture date.
