logo
Take the money, Doug Ford urges First Nations leaders who criticize fast-track development

Take the money, Doug Ford urges First Nations leaders who criticize fast-track development

HUNTSVILLE, Ont. — Premier Doug Ford urged First Nations leaders to take advantage of billions of dollars in financial supports as he headed into a meeting Monday over their deepening concerns about legislation to fast-track mining projects in the face of the U.S. President Donald Trump's tariffs.
'This door is only open so long,' Ford told reporters as he and his fellow premiers arrived at Deerhurst Resort in a motorcade from Toronto for their annual
Council of the Federation conference
, escorted by an Ontario Provincial Police motorcycle unit.
'There's never been a better opportunity for Indigenous communities — I'll speak for Ontario — than right now,' added Ford. 'There's $3 billion of equity sitting in the window that they can draw from. There's $70 million of training, $10 million of scholarships.'
The premiers' meeting with the Assembly of First Nations, the Métis National Council, Congress of Aboriginal Peoples and others was expected to focus on the fight many Indigenous leaders are waging against Ford's Bill 5, the Protect Ontario by Unleashing Our Economy Act, and similar federal legislation, Bill C-5, the One Canadian Economy Act, which also has a less contentious element — removing most federal barriers to interprovincial trade.
Both laws are aimed at speeding development of pipelines and other major infrastructure projects such as mines and rail corridors to offset an economic slowdown expected from U.S. tariffs on Canadian goods such as steel and automobiles.
But their passage in recent weeks — leaving First Nations leaders furious at a lack of advance consultation — has raised questions about the traditional treaty rights and environmental impact of fast-tracking massive projects intended to spur Canada's economy.
Following their own warnings that the controversial bills will end up slowing development, nine Ontario First Nations have launched legal challenges of both bills, insisting they are unconstitutional, and are seeking court injunctions to prevent Ottawa and Queen's Park from moving quickly on projects.
'Our rights cannot be implemented or respected without us, in substance and in process,' National Chief Cindy Woodhouse Nepinak of the Assembly of First Nations warned last week.
Ford is eager to accelerate projects in northwestern Ontario's Ring of Fire critical mineral deposits needed for electric vehicles, defence and other industries.
'We're gonna work with them,' he pledged in regard to First Nations. 'We want everyone to have an opportunity.'
Prime Minister Mark Carney, who
met with hundreds of Indigenous representatives last Thursday in Gatineau over their concerns
about the federal legislation, will join the premiers Tuesday and provide an update on trade negotiations with the Americans.
O'Chiese First Nation Chief Phyllis Whitford dismissed the summit, held behind closed doors, as 'political theatre' that followed 'last-minute invitations, last-minute agendas.'
Alberta Premier Danielle Smith said she's eager to hear more details from Carney on Bill C-5 and echoed Ford's concerns that major projects need to get rolling sooner rather than later.
'The problem has been, historically, that they haven't moved at all, that projects have 10 year or more time horizons,' she told reporters.
'This new world we're in, we have to figure out a way to get to 'yes' faster. It doesn't mean there isn't a robust conversation that has to happen, but it has to happen in a time frame when a proponent is going to know that the answer is 'yes' and how we get there,' Smith added.
'I'm supportive of an abridged time frame but I think we also have to figure out how that's going to work.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Earnings live: Microsoft, Meta stocks surge; Robinhood beats; Ford warns on tariff exposure
Earnings live: Microsoft, Meta stocks surge; Robinhood beats; Ford warns on tariff exposure

Yahoo

timean hour ago

  • Yahoo

Earnings live: Microsoft, Meta stocks surge; Robinhood beats; Ford warns on tariff exposure

Second quarter earnings season is in full swing, and the results have been largely positive so far, with more positive surprises than negative ones. Companies had a lower bar to clear coming into the quarter, as analysts tempered their expectations amid President Trump's tariffs, stocks' lofty valuations, and uncertainty about the health of the US economy. This week, investors will be treated to another flurry of quarterly results from Big Tech companies, including Microsoft (MSFT), Apple (AAPL), Meta (META), and Amazon (AMZN). This week's reports also include updates from Spotify (SPOT), Ford (F), Procter & Gamble (PG), Boeing (BA), Starbucks (SBUX), and Qualcomm (QCOM), among others. Data from FactSet published Friday showed that with 34% of the index having reported results, analysts expect S&P 500 companies to report a 5.6% jump in earnings per share during the second quarter. Heading into the quarter, analysts expected S&P 500 earnings to rise 5% in Q2, which would mark the slowest pace of earnings growth since the fourth quarter of 2023. Here are the latest updates from corporate America. Ford reports Q2 earnings beat but takes $800M tariff hit Ford (F) posted an earnings and revenue beat for the second quarter and reinstated full-year guidance. However, the automaker upped its full-year tariff exposure after seeing $800 million in tariff costs in Q2 alone. Yahoo Finance's Pras Subramanian reports: Read more here. Robinhood Q2 results likely boosted by strong trading activity Robinhood (HOOD) reported strong results as market volatility and the return of meme stocks fueled investor activity on the platform. Options contracts traded on Robinhood increased 32% year over year to a record 515 million, the company said. The company also appeared to benefit from new product launches, including tokenized stocks. For the quarter, Robinhood's net revenue was $989 million, versus the Street's estimate of $921.5 million, per Bloomberg consensus data. Earnings per share came in at $0.42, higher than the $0.34 per share estimated. Robinhood stock oscillated after hours as investors digested the results. Shares have been on a tear this year — up 185% year to date — largely driven by crypto and AI hype. Meta beats Q2 expectations, stock jumps on better than anticipated Q3 outlook Facebook parent Meta (META) outperformed expectations in the June quarter and offered a better than expected outlook for Q3 as investors search for clarity on the company's Superintelligence and AI strategy. Revenue of $47.5 billion surpassed analyst expectations for $44.83 billion, according to Bloomberg consensus estimates. During the same period last year, Meta brought in revenue of $39.07 billion. For the quarter, the company saw earnings per share of $7.14, compared to estimates of $5.89 and EPS of $5.16 last year. Advertising revenue was $46.5 billion, compared to an expected $44.07 billion. The company's Reality Labs segment lost $4.5 billion, compared to expectations of a $4.8 billion loss. For the third quarter, Meta forecast revenue of $47.5 billion to $50 billion, higher than the Street's estimate of $46.5 billion. Meta stock surged 10% after hours. Meta's results come as the company has supercharged its artificial hiring and spending spree. On Friday, CEO Mark Zuckerberg named former OpenAI ( researcher Shengjia Zhao as chief scientist of Meta's Superintelligence Lab. Read more here. Microsoft posts Q4 beat on top and bottom lines on cloud, AI strength Microsoft (MSFT) stock climbed 6% after hours after the tech giant posted strong earnings and cloud strength. Here's what Microsoft reported compared to consensus estimates compiled by Bloomberg: Yahoo Finance's Dan Howley reports that Intelligent Cloud segment revenue, which includes Microsoft's Azure business, topped out at $29.8 billion. Analysts were looking for $29.09 billion. Read more here. Earnings are driving the Big Tech rally Yahoo Finance's Josh Schafer writes: Read Yahoo Finance's Chartbook here. GE HealthCare results beat estimates, company sees diminished tariff impact GE HealthCare Technologies (GEHC) said on Wednesday that tariffs have a lower impact than it previously expected, which helped the company boost its full-year forecast. Per Reuters, the company expects adjusted profit of $4.43 to $4.63 per share for 2025, compared with its previous range of $3.90 to $4.10 per share. The forecast includes a $0.45 per share hit from tariffs, which is lower than the $0.85 per share, or $500 million, impact it guided to in April. Revenue and earnings also beat expectations. Earnings were $1.06 per share, including a $0.06 hit from tariffs, and revenue of $5.01 billion. Here's a detailed look at revenue growth across GE HealthCare's segments: Read more here or listen to the earnings call live here. Garmin stock rises after the company raised its full-year outlook Reuters reports: Read more here. Etsy beats quarterly revenue estimates on strong demand Etsy (ETSY) stock gained 6% in premarket trading after the company's quarterly results showed it was largely able to withstand a slowdown in consumer spending. Reuters reports: Read more here. Hershey lowers earnings guidance Hershey (HSY) lowered its full-year earnings guidance on Wednesday, reflecting the effects of tariffs for the rest of the year. The chocolate maker expects its adjusted earnings per share to fall 36% to 38% this year, compared to its prior forecast of earnings declining in the mid-30% range. Hershey also said that its tariff expenses for the full year will be approximately $170 million to $180 million. The company's top- and bottom-line results beat Wall Street estimates, according to S&P Global Market Intelligence: Hershey's earnings call begins at 8:15 a.m. ET. You can listen to it here. Harley-Davidson posts lower second-quarter profit as tariffs weigh Harley-Davidson (HOG) stock rose 8% premarket on Wednesday, despite reporting lower second-quarter profit and not providing an annual forecast. The motorcycle company did announce a new partnership with KKR (KKR) and Pimco (PDI). Reuters reports: Read more here. Kraft Heinz beats quarterly revenue estimates on steady US demand Reuters reports: Insurer Humana raises annual profit forecast, shares climb Humana (HUM) stock rose 7% on Wednesday before the bell after the health insurance group raised its annual profit forecast. Reuters reports: Read more here. Vans parent VF Corp beats quarterly revenue estimates on improving demand Vans parent group, VF Corp (VFC) beat first-quarter revenue estimates on Wednesday. Aided by an uptick in demand for its apparel and footwear products, the company's stock rose 15% in premarket trading. Reuters reports: Read more here. Seagate forecasts first-quarter revenue and profit below estimates, shares slump Seagate (STX) stock fell more than 6% premarket on Wednesday after the company's first-quarter revenue fell slightly below Wall Street expectations the day prior. Reuters reports: Read more here. Meta and Microsoft are set to kick off this week's Big Tech earnings Yahoo Finance's Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday. For Meta, it's all about the AI hiring spree: And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet's (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains: Read more on Meta and Microsoft. Visa profit rises on resilient consumer spending Reuters reports: The stock was down in early after-hours trading, however. Read more here. Starbucks reports 6th straight US sales decline as CEO Brian Niccol continues turnaround efforts Starbucks (SBUX) reported a sixth-straight quarterly drop in US same-store sales on Tuesday. The company continues to grapple with an uncertain consumer environment as CEO Brian Niccol continues his turnaround efforts at the coffee giant. US same-store sales fell 2%, in line with the prior quarter's drop but less than the 2.5% drop that had been forecast. That was driven lower by a 4% decline in comparable transactions. Wall Street expected a sharper 4.5% decline. Global same-store sales fell 2%, more than the 1.5% decline expected, per Bloomberg data, marking an acceleration from the previous quarter's 1% drop. CEO Brian Niccol said in the release the company has "fixed a lot and done the hard work on the hard things to build a strong operating foundation, and based on my experience of turnarounds, we are ahead of schedule." Read more here. Royal Caribbean lifts annual profit forecast on steady cruise demand Royal Caribbean's (RCL) stock fell 8% on Tuesday after the cruise line forecast its current-quarter profit below estimates. The company raised its annual forecast and is banking on resilient demand for its luxury destinations. Reuters reports: Read more here. Starbucks set to report 6th straight US sales decline amid turnaround efforts Starbucks (SBUX) will report second quarter earnings after the bell on Tuesday, and the company faces several headwinds as it looks to gain traction on its turnaround efforts and as consumers pull back on coffee purchases. Same-store sales are expected to decline once again, despite new CEO Brian Niccol's initiatives and cost-cutting efforts. Yahoo Finance's Brooke DiPalma previews what Wall Street is watching for: Read more here. Stellantis to absorb $1.7 billion in tariff costs in 2025 Stellantis (STLA) shared updated first-half results after giving early numbers last week. The company said that President Trump's tariffs will cost it $1.73 billion in 2025. Yahoo Finance's senior reporter Pras Subramanian looks into the automakers earnings further and its anticipated tariff hit: Read more here. Ford reports Q2 earnings beat but takes $800M tariff hit Ford (F) posted an earnings and revenue beat for the second quarter and reinstated full-year guidance. However, the automaker upped its full-year tariff exposure after seeing $800 million in tariff costs in Q2 alone. Yahoo Finance's Pras Subramanian reports: Read more here. Ford (F) posted an earnings and revenue beat for the second quarter and reinstated full-year guidance. However, the automaker upped its full-year tariff exposure after seeing $800 million in tariff costs in Q2 alone. Yahoo Finance's Pras Subramanian reports: Read more here. Robinhood Q2 results likely boosted by strong trading activity Robinhood (HOOD) reported strong results as market volatility and the return of meme stocks fueled investor activity on the platform. Options contracts traded on Robinhood increased 32% year over year to a record 515 million, the company said. The company also appeared to benefit from new product launches, including tokenized stocks. For the quarter, Robinhood's net revenue was $989 million, versus the Street's estimate of $921.5 million, per Bloomberg consensus data. Earnings per share came in at $0.42, higher than the $0.34 per share estimated. Robinhood stock oscillated after hours as investors digested the results. Shares have been on a tear this year — up 185% year to date — largely driven by crypto and AI hype. Robinhood (HOOD) reported strong results as market volatility and the return of meme stocks fueled investor activity on the platform. Options contracts traded on Robinhood increased 32% year over year to a record 515 million, the company said. The company also appeared to benefit from new product launches, including tokenized stocks. For the quarter, Robinhood's net revenue was $989 million, versus the Street's estimate of $921.5 million, per Bloomberg consensus data. Earnings per share came in at $0.42, higher than the $0.34 per share estimated. Robinhood stock oscillated after hours as investors digested the results. Shares have been on a tear this year — up 185% year to date — largely driven by crypto and AI hype. Meta beats Q2 expectations, stock jumps on better than anticipated Q3 outlook Facebook parent Meta (META) outperformed expectations in the June quarter and offered a better than expected outlook for Q3 as investors search for clarity on the company's Superintelligence and AI strategy. Revenue of $47.5 billion surpassed analyst expectations for $44.83 billion, according to Bloomberg consensus estimates. During the same period last year, Meta brought in revenue of $39.07 billion. For the quarter, the company saw earnings per share of $7.14, compared to estimates of $5.89 and EPS of $5.16 last year. Advertising revenue was $46.5 billion, compared to an expected $44.07 billion. The company's Reality Labs segment lost $4.5 billion, compared to expectations of a $4.8 billion loss. For the third quarter, Meta forecast revenue of $47.5 billion to $50 billion, higher than the Street's estimate of $46.5 billion. Meta stock surged 10% after hours. Meta's results come as the company has supercharged its artificial hiring and spending spree. On Friday, CEO Mark Zuckerberg named former OpenAI ( researcher Shengjia Zhao as chief scientist of Meta's Superintelligence Lab. Read more here. Facebook parent Meta (META) outperformed expectations in the June quarter and offered a better than expected outlook for Q3 as investors search for clarity on the company's Superintelligence and AI strategy. Revenue of $47.5 billion surpassed analyst expectations for $44.83 billion, according to Bloomberg consensus estimates. During the same period last year, Meta brought in revenue of $39.07 billion. For the quarter, the company saw earnings per share of $7.14, compared to estimates of $5.89 and EPS of $5.16 last year. Advertising revenue was $46.5 billion, compared to an expected $44.07 billion. The company's Reality Labs segment lost $4.5 billion, compared to expectations of a $4.8 billion loss. For the third quarter, Meta forecast revenue of $47.5 billion to $50 billion, higher than the Street's estimate of $46.5 billion. Meta stock surged 10% after hours. Meta's results come as the company has supercharged its artificial hiring and spending spree. On Friday, CEO Mark Zuckerberg named former OpenAI ( researcher Shengjia Zhao as chief scientist of Meta's Superintelligence Lab. Read more here. Microsoft posts Q4 beat on top and bottom lines on cloud, AI strength Microsoft (MSFT) stock climbed 6% after hours after the tech giant posted strong earnings and cloud strength. Here's what Microsoft reported compared to consensus estimates compiled by Bloomberg: Yahoo Finance's Dan Howley reports that Intelligent Cloud segment revenue, which includes Microsoft's Azure business, topped out at $29.8 billion. Analysts were looking for $29.09 billion. Read more here. Microsoft (MSFT) stock climbed 6% after hours after the tech giant posted strong earnings and cloud strength. Here's what Microsoft reported compared to consensus estimates compiled by Bloomberg: Yahoo Finance's Dan Howley reports that Intelligent Cloud segment revenue, which includes Microsoft's Azure business, topped out at $29.8 billion. Analysts were looking for $29.09 billion. Read more here. Earnings are driving the Big Tech rally Yahoo Finance's Josh Schafer writes: Read Yahoo Finance's Chartbook here. Yahoo Finance's Josh Schafer writes: Read Yahoo Finance's Chartbook here. GE HealthCare results beat estimates, company sees diminished tariff impact GE HealthCare Technologies (GEHC) said on Wednesday that tariffs have a lower impact than it previously expected, which helped the company boost its full-year forecast. Per Reuters, the company expects adjusted profit of $4.43 to $4.63 per share for 2025, compared with its previous range of $3.90 to $4.10 per share. The forecast includes a $0.45 per share hit from tariffs, which is lower than the $0.85 per share, or $500 million, impact it guided to in April. Revenue and earnings also beat expectations. Earnings were $1.06 per share, including a $0.06 hit from tariffs, and revenue of $5.01 billion. Here's a detailed look at revenue growth across GE HealthCare's segments: Read more here or listen to the earnings call live here. GE HealthCare Technologies (GEHC) said on Wednesday that tariffs have a lower impact than it previously expected, which helped the company boost its full-year forecast. Per Reuters, the company expects adjusted profit of $4.43 to $4.63 per share for 2025, compared with its previous range of $3.90 to $4.10 per share. The forecast includes a $0.45 per share hit from tariffs, which is lower than the $0.85 per share, or $500 million, impact it guided to in April. Revenue and earnings also beat expectations. Earnings were $1.06 per share, including a $0.06 hit from tariffs, and revenue of $5.01 billion. Here's a detailed look at revenue growth across GE HealthCare's segments: Read more here or listen to the earnings call live here. Garmin stock rises after the company raised its full-year outlook Reuters reports: Read more here. Reuters reports: Read more here. Etsy beats quarterly revenue estimates on strong demand Etsy (ETSY) stock gained 6% in premarket trading after the company's quarterly results showed it was largely able to withstand a slowdown in consumer spending. Reuters reports: Read more here. Etsy (ETSY) stock gained 6% in premarket trading after the company's quarterly results showed it was largely able to withstand a slowdown in consumer spending. Reuters reports: Read more here. Hershey lowers earnings guidance Hershey (HSY) lowered its full-year earnings guidance on Wednesday, reflecting the effects of tariffs for the rest of the year. The chocolate maker expects its adjusted earnings per share to fall 36% to 38% this year, compared to its prior forecast of earnings declining in the mid-30% range. Hershey also said that its tariff expenses for the full year will be approximately $170 million to $180 million. The company's top- and bottom-line results beat Wall Street estimates, according to S&P Global Market Intelligence: Hershey's earnings call begins at 8:15 a.m. ET. You can listen to it here. Hershey (HSY) lowered its full-year earnings guidance on Wednesday, reflecting the effects of tariffs for the rest of the year. The chocolate maker expects its adjusted earnings per share to fall 36% to 38% this year, compared to its prior forecast of earnings declining in the mid-30% range. Hershey also said that its tariff expenses for the full year will be approximately $170 million to $180 million. The company's top- and bottom-line results beat Wall Street estimates, according to S&P Global Market Intelligence: Hershey's earnings call begins at 8:15 a.m. ET. You can listen to it here. Harley-Davidson posts lower second-quarter profit as tariffs weigh Harley-Davidson (HOG) stock rose 8% premarket on Wednesday, despite reporting lower second-quarter profit and not providing an annual forecast. The motorcycle company did announce a new partnership with KKR (KKR) and Pimco (PDI). Reuters reports: Read more here. Harley-Davidson (HOG) stock rose 8% premarket on Wednesday, despite reporting lower second-quarter profit and not providing an annual forecast. The motorcycle company did announce a new partnership with KKR (KKR) and Pimco (PDI). Reuters reports: Read more here. Kraft Heinz beats quarterly revenue estimates on steady US demand Reuters reports: Reuters reports: Insurer Humana raises annual profit forecast, shares climb Humana (HUM) stock rose 7% on Wednesday before the bell after the health insurance group raised its annual profit forecast. Reuters reports: Read more here. Humana (HUM) stock rose 7% on Wednesday before the bell after the health insurance group raised its annual profit forecast. Reuters reports: Read more here. Vans parent VF Corp beats quarterly revenue estimates on improving demand Vans parent group, VF Corp (VFC) beat first-quarter revenue estimates on Wednesday. Aided by an uptick in demand for its apparel and footwear products, the company's stock rose 15% in premarket trading. Reuters reports: Read more here. Vans parent group, VF Corp (VFC) beat first-quarter revenue estimates on Wednesday. Aided by an uptick in demand for its apparel and footwear products, the company's stock rose 15% in premarket trading. Reuters reports: Read more here. Seagate forecasts first-quarter revenue and profit below estimates, shares slump Seagate (STX) stock fell more than 6% premarket on Wednesday after the company's first-quarter revenue fell slightly below Wall Street expectations the day prior. Reuters reports: Read more here. Seagate (STX) stock fell more than 6% premarket on Wednesday after the company's first-quarter revenue fell slightly below Wall Street expectations the day prior. Reuters reports: Read more here. Meta and Microsoft are set to kick off this week's Big Tech earnings Yahoo Finance's Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday. For Meta, it's all about the AI hiring spree: And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet's (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains: Read more on Meta and Microsoft. Yahoo Finance's Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday. For Meta, it's all about the AI hiring spree: And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet's (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains: Read more on Meta and Microsoft. Visa profit rises on resilient consumer spending Reuters reports: The stock was down in early after-hours trading, however. Read more here. Reuters reports: The stock was down in early after-hours trading, however. Read more here. Starbucks reports 6th straight US sales decline as CEO Brian Niccol continues turnaround efforts Starbucks (SBUX) reported a sixth-straight quarterly drop in US same-store sales on Tuesday. The company continues to grapple with an uncertain consumer environment as CEO Brian Niccol continues his turnaround efforts at the coffee giant. US same-store sales fell 2%, in line with the prior quarter's drop but less than the 2.5% drop that had been forecast. That was driven lower by a 4% decline in comparable transactions. Wall Street expected a sharper 4.5% decline. Global same-store sales fell 2%, more than the 1.5% decline expected, per Bloomberg data, marking an acceleration from the previous quarter's 1% drop. CEO Brian Niccol said in the release the company has "fixed a lot and done the hard work on the hard things to build a strong operating foundation, and based on my experience of turnarounds, we are ahead of schedule." Read more here. Starbucks (SBUX) reported a sixth-straight quarterly drop in US same-store sales on Tuesday. The company continues to grapple with an uncertain consumer environment as CEO Brian Niccol continues his turnaround efforts at the coffee giant. US same-store sales fell 2%, in line with the prior quarter's drop but less than the 2.5% drop that had been forecast. That was driven lower by a 4% decline in comparable transactions. Wall Street expected a sharper 4.5% decline. Global same-store sales fell 2%, more than the 1.5% decline expected, per Bloomberg data, marking an acceleration from the previous quarter's 1% drop. CEO Brian Niccol said in the release the company has "fixed a lot and done the hard work on the hard things to build a strong operating foundation, and based on my experience of turnarounds, we are ahead of schedule." Read more here. Royal Caribbean lifts annual profit forecast on steady cruise demand Royal Caribbean's (RCL) stock fell 8% on Tuesday after the cruise line forecast its current-quarter profit below estimates. The company raised its annual forecast and is banking on resilient demand for its luxury destinations. Reuters reports: Read more here. Royal Caribbean's (RCL) stock fell 8% on Tuesday after the cruise line forecast its current-quarter profit below estimates. The company raised its annual forecast and is banking on resilient demand for its luxury destinations. Reuters reports: Read more here. Starbucks set to report 6th straight US sales decline amid turnaround efforts Starbucks (SBUX) will report second quarter earnings after the bell on Tuesday, and the company faces several headwinds as it looks to gain traction on its turnaround efforts and as consumers pull back on coffee purchases. Same-store sales are expected to decline once again, despite new CEO Brian Niccol's initiatives and cost-cutting efforts. Yahoo Finance's Brooke DiPalma previews what Wall Street is watching for: Read more here. Starbucks (SBUX) will report second quarter earnings after the bell on Tuesday, and the company faces several headwinds as it looks to gain traction on its turnaround efforts and as consumers pull back on coffee purchases. Same-store sales are expected to decline once again, despite new CEO Brian Niccol's initiatives and cost-cutting efforts. Yahoo Finance's Brooke DiPalma previews what Wall Street is watching for: Read more here. Stellantis to absorb $1.7 billion in tariff costs in 2025 Stellantis (STLA) shared updated first-half results after giving early numbers last week. The company said that President Trump's tariffs will cost it $1.73 billion in 2025. Yahoo Finance's senior reporter Pras Subramanian looks into the automakers earnings further and its anticipated tariff hit: Read more here. Stellantis (STLA) shared updated first-half results after giving early numbers last week. The company said that President Trump's tariffs will cost it $1.73 billion in 2025. Yahoo Finance's senior reporter Pras Subramanian looks into the automakers earnings further and its anticipated tariff hit: Read more here. Sign in to access your portfolio

Ontario cancels internet deal with Musk's Starlink as part of US tariff fight
Ontario cancels internet deal with Musk's Starlink as part of US tariff fight

Yahoo

timean hour ago

  • Yahoo

Ontario cancels internet deal with Musk's Starlink as part of US tariff fight

By Ryan Patrick Jones TORONTO (Reuters) -The Canadian province of Ontario has canceled a C$100 million ($68.12 million) satellite high-speed internet contract with Elon Musk's company Starlink, following through with a vow by the province's premier to cut ties in retaliation for U.S. tariffs imposed on Canada. Stephen Lecce, Ontario's minister of energy and mines, confirmed the cancellation of the contract for internet services at an unrelated news conference in Toronto on Wednesday. Lecce, who oversees broadband connectivity in Canada's most populous province, didn't say how much the termination would cost. "I can confirm that the premier has fulfilled his word, which is to cancel that contract because of the very reasons he cited in the past," Lecce said. "We are standing up for Canada." Under the terms of the deal, which Ontario signed last November, Starlink was to provide high-speed internet access to 15,000 eligible homes and businesses in more remote communities. In February, Ontario Premier Doug Ford threatened to end the agreement with Starlink in response to U.S. President Donald Trump imposing tariffs on Canadian goods. He later postponed the cancellation after Trump agreed to a 30-day pause on tariffs. SpaceX, Starlink's parent, did not immediately respond to a request for comment. Musk headed Trump's drive to shrink the federal government and was a close ally before falling out with the president. Canada and the U.S. are working on negotiating a trade deal by August 1, the date Trump is threatening to impose a 35% tariff on all Canadian goods not covered by the U.S.-Mexico-Canada trade agreement. Earlier this week, Canadian Prime Minister Mark Carney said talks were at an intense phase, while reiterating that a deal that would remove all U.S. tariffs was unlikely. Lecce said Ontario has taken other measures against the U.S., including restricting the ability of U.S. companies to bid on provincial government contracts, removing U.S.-made alcoholic beverages from store shelves and working to decouple the province's energy sector from the U.S. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store