Mining expo this next week in Timmins
Next week, Timmins hosts the annual Canadian Mining Expo. For more than 30 years, the expo has put the city on a global mining stage.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
39 minutes ago
- Globe and Mail
Is American Express Worth Buying Right Now?
American Express (NYSE: AXP) is one of the stocks owned by Warren Buffett within Berkshire Hathaway 's stock portfolio. That fact alone is enough to get some investors to buy the stock. However, you really need to consider other factors, like the business behind the stock, as well as its price tag. Here's a look at whether American Express is worth buying right now. American Express has a great business American Express is a financial giant, acting largely as a payment processor. The company's logo adorns credit cards that get used in retail establishments and online. Each transaction generates fee income for American Express. It issues its own cards, too, so it generates card/membership fees directly from customers there, as well. One differentiation between American Express and its peers is that Amex, as it is often called, focuses on more affluent customers. Wealthier consumers tend to be more resilient during economic downturns. Basically, they have the money to keep spending even as less affluent consumers hunker down. That means that Amex's business will usually perform relatively well during recessions and other periods of economic uncertainty. So far, 2025 has been filled with uncertainty. From tariff fights to stock market corrections, the news has been filled with negative headlines. In fact, American Express' stock price fell along with the S&P 500 (SNPINDEX: ^GSPC) earlier in the year. And it has recovered along with the index as well, as investors regained confidence. What's notable, however, is that American Express' price moves have been more dramatic than the market's moves. AXP data by YCharts American Express is still below its high-water mark That's an interesting sign, since it could mean that Amex's stock has more recovery potential ahead of it. Given the strength of its business model, that isn't an unreasonable assessment. However, there's also a negative way to view the price swing. It could very well be that investors got overly enthusiastic about the business and bid the price up to unrealistic levels earlier in the year. And the return toward those levels just indicates that investors are, again, being overzealous with their expectations. A look at traditional valuation metrics, perhaps unfortunately, suggests the second explanation is the more likely one. American Express' price-to-sales ratio is currently around 3.1, compared to a five-year average of 2.6. The price-to-earnings (P/E) ratio is currently about 20.5, versus a longer-term average of just under 19. And the price-to-book value ratio is 6.6 today, compared to a five-year average of roughly 5. All three metrics suggest that American Express is expensive today. And they are buttressed by a nontraditional valuation tool: dividend yield, which falls as share price rises. American Express' dividend yield is about 1.1% today. Not only is that less than the already miserly 1.3% yield you could collect from the S&P 500 index, but it is also near the lowest levels of the past decade. Again, the direction is pretty clear: Amex looks expensive. American Express is a great business There's a reason Warren Buffett owns American Express. It is a well-run business with some clear advantages over its peers. Buffett didn't just buy Amex -- he's owned it for many years. And sticking with a good company is part of Buffett's investment approach. However, Buffett's mentor, Benjamin Graham, made an important observation that investors looking at American Express today should heed: Even great companies can be bad investments if you pay too much for them. And it looks like American Express is too expensive right now. Should you invest $1,000 in American Express right now? Before you buy stock in American Express, 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 American Express 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 $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor 's total average return is997% — 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
40 minutes ago
- CTV News
Why a Manitoba landmark is closed for its 50th anniversary
An iconic Manitoba landmark that's celebrating its 50th anniversary this year is closed for the season due to a need for structural repairs. Grant's Old Mill is a replica flour mill that has stood on Portage Avenue near Sturgeon Road for decades. Former Premier Ed Schreyer opened the mill in 1975 as part of Winnipeg's centennial celebrations. Over the years, it's become a historical museum and a destination for school trips and visitors. It's also a functioning mill where Manitobans can watch a demonstration of how flour is milled. According to Kelly Ryback, a board member for the St. James Assiniboia Pioneer Association which oversees the mill, the replica was built in 1974. It features a sluice, which is a sliding grate to control the flow of water, and a wheel. 'When the water was running through the sluice, the wheel would turn, but that wheel does not turn stones,' he explained. 'There's an electric motor that turns the stones allowing it to mill the grain.' However, things are shifting as the mill reaches its 50th birthday milestone, which will celebrate an important figure of Manitoba's past. Grant's Old Mill The interior of Grant's Old Mill in Winnipeg, Man. (Kelly Ryback/St. James Assiniboia Pioneer Association) The history behind the mill Grant's Old Mill may have opened in the 1970s, but its history dates back over a century. The site is a replica of a mill built in 1829 by Métis leader Cuthbert Grant and serves as a place to honour his contributions to the province. Grant is hailed by many as the founder of the Métis nation. He was appointed captain general of the Métis people by the Northwest Company, and then in 1816, he led his nation to victory against Hudson's Bay Company governor Robert Semple in the Battle of Seven Oaks. '(This battle is) the first time that we flew under the infinity flag,' said Laura Forsythe, assistant professor at the University of Winnipeg in the faculty of education. 'We fought against the oppressive, colonial government trying to enforce a series of laws onto the people here who are Métis.' Grant's legacy continued in 1829 when he created the first water-powered mill in Western Canada. 'The mill itself in 1829 was a failure,' Forsythe said. 'It just never really took off, and Grant actually ended up relocating the grinding stones to Grantown, which we now know as St. Francois Xavier, and it was used in that location for years.' Forsythe noted that historians don't view the mill as a 'total failure' because it's seen as an important historical landmark, adding that it was the first instance of hydro use in the Red River settlement. Why the mill is important Forsythe said for the last 50 years, Grant's Old Mill has reminded Winnipeggers of those who came before us and served as a symbol of belonging to the Métis people. 'Right in Winnipeg, we get to see a slice of Canadian history.' She added that Grant is a bit of an 'unsung hero' to Manitoba, and it's important for more people to recognize all he has done. 'This mill helps everyday Winnipeggers and everyday Canadians know a little bit more about the legacy of the Métis nation and all of the folks who helped it come to be,' she said. Grant's Old Mill An image of a painting of Cuthbert Grant at Grant's Old Mill in Winnipeg, Man. (Kelly Ryback/St. James Assiniboia Pioneer Association) Why the mill is closed Though it's celebrating 50 years in 2025, the mill is closed to the public this summer as it's in need of repairs. According to Ryback, the mill's sluice has been wiped out by ice, the wheel is damaged and the stackable logs that form the walls are deteriorating. He noted the St. James Assiniboia Pioneer Association has known for years about the state of the mill, adding that the group has plans not only for reconstruction, but to enhance the destination and its programming for the future. Ryback expects the mill will be open again in 2027. 'It's a site that we want to have reconstructed, but then become of even greater enjoyment and use for the residents and tourists to enjoy,' he said. Despite the closure, the St. James Assiniboia Pioneer Association still has plans to celebrate the mill's 50th anniversary with an event on July 12. The celebration will include a full day of activities including a 50/50 draw, reenactors, games, musical performances, and a jigging contest.
CTV News
41 minutes ago
- CTV News
As his trade war faces legal pushback, Trump has other tariff tools he could deploy
U.S. President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House on Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein) WASHINGTON — U.S. President Donald Trump's tariffs are facing legal headwinds for the first time — but he has other tools he could deploy in his quest to realign global trade. A federal appeals court is still deciding whether there will be a stay on Trump's universal tariffs enacted through the International Emergency Economic Powers Act of 1977, usually referred to by the acronym IEEPA. The U.S. Court of International Trade ruled the duties were unlawful last month. IEEPA is a national security statute that gives the U.S. president authority to control economic transactions after declaring an emergency. It had never previously been used for tariffs. Trump declared emergencies at the United States' northern and southern borders linked to the flow of fentanyl and migrants in order to hit Canada and Mexico with economywide tariffs. He later declared an emergency over trade deficits to impose his retaliatory 'Liberation Day' duties on most nations. The trade court found Trump exceeded presidential powers by using IEEPA to broadly implement the duties. The Trump administration quickly appealed the decision and the White House said it would take the case to the Supreme Court. Following the ruling, White House Economic Council Director Kevin Hassett said he was confident the court ultimately would decide in Trump's favour. Hassett said that if it doesn't, 'we'll have other alternatives that we can pursue as well to make sure that we make American trade fair again.' While the U.S. Constitution gives power over taxes and tariffs to Congress, Greta Peisch, the former general counsel for the Office of the U.S. Trade Representative, said it passed laws over the last century that allow the president some control in certain situations. Trump is now looking to use those laws — some of them for the first time. The president may be considering Section 338 of the Tariff Act of 1930. It allows a president to hit countries with tariffs of up to 50 per cent if the country 'is treating products of the United States disfavourably, compared to products of another foreign country,' said Peisch, a partner at Wiley Rein in Washington, D.C. Section 338 has never been used by a president before and Peisch said it might be difficult for the administration to make a case for it. Trump also might look to Section 301 of the Trade Act of 1974, which allows a president to take trade actions if an investigation finds a trading partner's policies are unreasonable and discriminatory. Trump used this law during his first administration to impose tariffs on some Chinese imports and European Union goods. But Section 301 requires country-by-country investigations of trade policy before a tariff can be imposed — investigations that could take weeks or months and would include a period for public comment. That certainly would slow down Trump's efforts to target the world with tariffs. If the president is looking for speed, Peisch said, he might try to use Section 122 of the Trade Act of 1974 — another law that has never before been used. Section 122 allows a president to implement tariffs of up to 15 per cent to address large and serious United States balance-of-payments deficits. But those duties can only stay in place for a maximum of 150 days before they need Congressional approval to continue. That reduces Trump's leverage if his goal is to pressure countries to sign trade deals — those countries could simply decide to wait the president out. Trump also has said tariffs will help pay down the deficit; the short-term Section 122 power is unlikely to work as a long-term revenue strategy. Ultimately, Peisch said, none of the replacement statutes could easily build Trump's universal tariff wall around the United States. 'Nothing is a great fit without a lot of work,' she said. 'So I think it's potentially going to be a challenge.' This report by The Canadian Press was first published June 7, 2025. Kelly Geraldine Malone, The Canadian Press
