EXCLUSIVE 'No one should underestimate the significance of this': REBECCA ENGLISH reveals King Charles' subtle move that's got royal sources whispering
That was the message of the country's High Commissioner to the UK, Ralph Goodale, when they visited his Canada House headquarters in London last week.
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Reuters
26 minutes ago
- Reuters
Proposed Canada-US trade deal could still be weeks away, says Ottawa
OTTAWA, Aug 1 (Reuters) - A proposed U.S.-Canada trade deal could still be weeks away, Ottawa's chief negotiator said on Friday, a day after U.S. President Donald Trump imposed higher tariffs on imports from Canada. Trump - who had set an August 1 deadline for an agreement - signed an executive order increasing tariffs on Canadian goods to 35% from 25% on all products not covered by the U.S.-Mexico-Canada trade agreement. Prime Minister Mark Carney insisted on the talks to reset bilateral relations, saying Trump's tariffs have upended decades-old trading and security ties. The negotiations, though, have so far produced little. Although over 90% of Canadian exports enter the United States without duties, the tariffs apply to crucial sectors such as steel, aluminum and automobiles. Federal cabinet minister Dominic LeBlanc, in charge of U.S. trade relations, said Canada had always made clear it would only accept a good deal. "At the end of business yesterday that agreement was not yet in sight ... there remain sectors the Americans are targeting which are essential for the Canadian economy," he told public broadcaster Radio-Canada. "Over the coming weeks we will ... continue talks with the Americans in an attempt to find a deal that would put us in a better position." Separately, LeBlanc told reporters in Washington that he would speak to U.S. Commerce Secretary Howard Lutnick next week and hoped to meet him in August. "The doors aren't closed, the doors are open, the conversations are ongoing," he said. The White House cited what it said was Canada's failure to stop fentanyl smuggling and address U.S. concerns about trade barriers. Washington is also unhappy about Canada's refusal to drop its own countermeasures, which were first imposed by former Prime Minister Justin Trudeau. He resigned in March to be replaced by Carney, who won an April election promising to stand up to Trump. In June, Carney had threatened to ramp up counter tariffs in July unless there was progress on the deal. A statement he issued on Friday did not mention retaliation. Brian Clow, who was in charge of U.S. relations inside Trudeau's office for several years, noted Trump had announced deals with nations that declined to impose counter tariffs. "Unfortunately, Canada stands on its own right now, along with China, because many other countries ... refused to stand up to this President," he said by phone. "So I'm not sure that further retaliation is the way to go." Carney's talk about standing up to Trump cannot hide the divisions between those advocating for a hard line and those who worry about the potential economic damage. Goldy Hyder, president of the Business Council of Canada lobby group, said Canada was struggling at the talks and urged a new approach. "As someone said to me, Canada is playing chess, but there's nobody playing chess with it at the other end," he said. "We've got to make sure that we are thinking through: 'What have we been doing and what do we need to do?'," he told CBC News. "We've got to move with greater urgency, because our own economy is very fragile."
Reuters
an hour ago
- Reuters
BlackRock, other fund managers lose bid to dismiss Texas climate collusion lawsuit
Aug 1 (Reuters) - A U.S. judge on Friday largely rejected a request by top asset managers including BlackRock (BLK.N), opens new tab to dismiss a lawsuit filed by Texas and 12 other Republican-led states that said the companies violated antitrust law through climate activism that reduced coal production and boosted energy prices. U.S. District Judge Jeremy Kernodle in Tyler, Texas agreed to dismiss just three of the 21 counts in the states' lawsuit, which also names institutional investors State Street (STT.N), opens new tab and Vanguard. The lawsuit is among the highest-profile cases targeting efforts to promote environmental, social and governance goals. Texas Attorney General Ken Paxton said the three companies "created an investment cartel to illegally control national energy markets and squeeze more money out of hardworking Americans,' and that 'today's victory represents a major step in holding them accountable." The three asset managers said they would continue to defend against the claims, with Vanguard calling the ruling disappointing, and State Street calling the case a risk to investors and energy markets. "By pursuing forced divestment, the Attorneys General are undermining the Trump Administration's goal of American energy independence," BlackRock said. The ruling by Kernodle, who was appointed by President Donald Trump, means the states can move forward with their claims that the asset managers violated U.S. antitrust law by joining Climate Action 100+, an investor initiative to take action to combat climate change, and used their shareholder advocacy in furtherance of its goals. Kernodle, however, dismissed claims that the asset managers violated Louisiana and Nebraska consumer protection laws. The companies have denied wrongdoing and called the case "half-baked." But the states' theories have garnered support from Trump-appointed antitrust enforcers at the U.S. Department of Justice and Federal Trade Commission. The outcome of the lawsuit could have major implications for how the companies, which together manage some $27 trillion, approach their holdings and passive funds. One possible remedy sought by the plaintiffs would be for the fund firms to divest holdings in coal companies, which BlackRock has said would harm the companies' access to capital and likely raise energy prices.
Daily Mail
an hour ago
- Daily Mail
Trump demands firing of senior official after jobs numbers report
Donald Trump demanded the firing of a top Joe Biden official overseeing the country's 'jobs numbers' after a lackluster report. The president is taking out his frustration on Dr. Erika McEntarfer, the commissioner of labor statistics, who was appointed to the role by Biden. He accused her of 'faking' jobs numbers before the 2024 election to 'try and boost Kamala's chances of victory,' in a blistering post to Truth Social. 'We need accurate jobs numbers. I have directed my team to fire this Biden political appointee, IMMEDIATELY. She will be replaced with someone much more competent and qualified,' he stated. Hiring growth dropped dramatically last month and unemployment ticked up, the latest jobs report released on Friday showed. Nonfarm payrolls added 73,000 in July, far lower than the 100,000 expected by analysts. The unemployment rate also ticked up to 4.2 percent. The report also sharply revised down the figures for May and June by a combined 258,000 jobs from the previously released figures. Following the revision June's total was left at just 14,000 and May's at 19,000 — effectively flat. Analysts say July's figure is also likely to be revised lower, possibly into negative territory. Stocks tumbled in pre-market trading with the S&P 500 down around one percent, and the Nasdaq down around 1.1 percent before the bell. The latest figures suggest cracks are in fact starting to show up in the economy, despite a slew of previous better-than-expected economic data released recently. It comes after the Federal Reserve once again held rates steady at its July meeting on Wednesday.
