New Tariff Threats and Fed Policy Drop TSX
Canadian equity futures slid Monday, tracking Wall Street's pullback after fresh tariff threats from U.S. President Donald Trump rattled investors.
Market Numbers (Futures)
TSX :Down (0.40%) 24,931.38TSXV: Up (1.59%) 656.40DOW: Up (1.12%) 41,314.00NASDAQ: Up (1.11%) 20,091.25
FTSE: Up (1.17%) 8,596.35
In the Headlines:
The premiers of Canada's three territories say the country's push to remove internal trade barriers needs to consider the unique economic situation of the North.
And BHP Group's joint-venture partner Lundin Mining Corp. declared that the companies' Filo del Sol project in South America to be the largest discovery of copper in three decades.
Currencies Update: (Futures)
The Canadian dollar is up 0.19% to $0.7263 U.S., deletes 0.34% to the Euro, sitting at $0.6360, and Bitcoin hands back 1.25% to $130,012.41
Commodities: (Futures)
Natural Gas: Up (9.09%), 3.63WTI: Up (1.99%), 57.06Gold: Down (0.92%), 3,318.77
Copper: Up (0.06%) 5.85
To stay up-to-date on all of your market news head to stockhouse.com
Join the discussion: Find out what everybody's saying check out the rest of Stockhouse's stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
31 minutes ago
- Cision Canada
TELUS Submits Non-Binding Indication of Interest to Acquire Full Ownership of TELUS Digital Français
Acquisition would offer TELUS Digital shareholders liquidity at a compelling value and enhance TELUS Digital's ability to effectively respond to changing market dynamics Closer operational integration between TELUS and TELUS Digital to supercharge AI and SaaS transformation across telecommunications, health, agriculture and consumer goods sectors TELUS Digital to continue as a key enabler to TELUS' growth strategy and operational efficiency VANCOUVER, BC, June 12, 2025 /CNW/ - TELUS Corporation (TELUS) today announced that it has submitted a non-binding indication of interest (IOI) to the board of directors of TELUS International (Cda) Inc. (TELUS Digital) in respect of a proposed transaction pursuant to which TELUS would, directly or indirectly through one of its subsidiaries, acquire all of the issued and outstanding subordinate voting shares and multiple voting shares of TELUS Digital not already owned directly or indirectly by TELUS for a price per share of US$ 3.40 to be paid in cash, TELUS common shares or a combination of both. The proposed price represents a premium of approximately 15% to TELUS Digital's closing share price on the New York Stock Exchange (NYSE) on June 11, 2025, and a premium of approximately 23% over TELUS Digital's 30-day volume weighted average trading price based on Canadian composite (Toronto Stock Exchange and all Canadian marketplaces) and U.S. composite (New York Stock Exchange and all U.S. marketplaces) as of such date. TELUS has asked the TELUS Digital board of directors to begin a process to review the IOI and appoint a special committee of independent directors to evaluate the proposal. "Our proposal to fully acquire TELUS Digital reflects our belief that closer operational proximity between TELUS and TELUS Digital will enable enhanced AI capabilities and SaaS transformation across all lines of our business, including telecommunications, TELUS Health and TELUS Agriculture & Consumer Goods, driving positive outcomes for the customers we serve," said Darren Entwistle, President and CEO of TELUS. "We anticipate that our deep familiarity with TELUS Digital will enable us to conclude this proposed transaction, with appropriate engagement from TELUS Digital, quickly and efficiently and, post-closing, effectively integrate the business and the team. TELUS Digital will continue to be an important business unit within TELUS, underscored by its demonstrated leadership in customer service excellence, digital transformation and heartfelt caring in the communities where team members live, work and serve. Accordingly, we believe the terms of our proposal are compelling for TELUS Digital shareholders and our leadership team looks forward to working constructively with the independent members of TELUS Digital's board of directors to progress the proposed acquisition. Notably, we believe this proposed transaction will yield meaningful benefits for TELUS Digital and importantly, for our customers and investors." Any financing undertaken in the near term will be designed with a view to being neutral to TELUS' balance sheet net debt to EBITDA leverage ratio, as TELUS maintains focus on deleveraging priorities. The IOI is a non-binding indication of interest and is subject to, among other matters, confirmatory due diligence satisfactory to TELUS, agreement on transaction structure, the negotiation and execution of mutually acceptable definitive transaction documents, and the approval of the proposed acquisition by the TELUS Digital board of directors. Further, the consummation of the proposed acquisition, even if definitive transaction documents are entered into, would be subject to customary closing conditions for transactions of this nature, including, among others, the receipt of shareholder approvals required under applicable securities laws, including Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, and court approval. No agreement has been reached between TELUS and TELUS Digital, and no assurances can be given that definitive transaction documents with respect to the proposed acquisition will be entered into, as to the final terms of any transaction or that a transaction will be consummated. Barclays is acting as exclusive financial advisor to TELUS, and Stikeman Elliott LLP and A&O Shearman are acting as legal advisors. TELUS and its advisors stand ready to work with the TELUS Digital board of directors to agree the terms of, and implement, the proposed acquisition. TELUS currently beneficially owns an aggregate of 152,004,019 multiple voting shares and 6,874,822 subordinate voting shares, representing approximately 92.5% of the outstanding multiple voting shares, 6.1% of the outstanding subordinate voting shares, representing 57.4% of all outstanding shares, and 86.9% of the combined voting power of all outstanding shares. The foregoing percentages are based on 164,381,876 multiple voting shares and 112,477,222 subordinate voting shares issued and outstanding, as reported by TELUS Digital in its condensed interim consolidated financial statements for the three months ended March 31, 2025. TELUS currently has no additional plans or intentions that relate to its investment in TELUS Digital other than those described in the IOI. Nonetheless, it may or may not purchase or sell multiple voting shares, subordinate voting shares or other securities of TELUS Digital in the future on the open market or in private transactions, depending on market conditions and other factors. Depending on market conditions, general economic and industry conditions, TELUS Digital's business and financial condition and/or other relevant factors, TELUS may at any time develop other plans or intentions in the future relating to one or more of the actions set forth in Items 5(a) through (k) of TELUS' early warning report or Items 4(a) through (j) of TELUS' Schedule 13D. TELUS does not intend to make additional disclosure regarding the proposed acquisition until a definitive agreement has been reached or unless disclosure is otherwise required under applicable securities laws. A copy of the early warning report (to which a copy of the IOI is attached) filed by TELUS in connection with the submission of the IOI is available on TELUS Digital's profile on SEDAR+ at A copy of Amendment No. 3 to Schedule 13D (to which a copy of the IOI is attached) filed by TELUS in connection with the submission of the IOI is, or will be, available on the U.S. Securities and Exchange Commission's EDGAR database at Alternatively, you may contact TELUS Investor Relations at 1-800-667-4871 in order to obtain a copy of the early warning report or Amendment No. 3 to Schedule 13D. The headquarters and principal executive offices of TELUS Digital are located at Floor 5, 510 West Georgia Street, Vancouver, British Columbia, Canada V6B 0M3. This press release does not constitute an offer to buy or sell or the solicitation of an offer to sell or buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with registration and other requirements under applicable law. Forward-Looking Statements This news release contains forward-looking statements about future events pertaining to the proposed acquisition, including expectations in respect of the proposed acquisition and the completion of such proposed acquisition, the realization of expected benefits to TELUS, TELUS Digital and their respective shareholders, including the realization of the synergies and other benefits of combining TELUS Digital's businesses with TELUS, and the ability of the businesses of TELUS Digital to respond to changing market dynamics, seizing considerable growth opportunities and leveraging strong demand. The terms TELUS, we, us and our refer to TELUS Corporation and, where the context of the narrative permits or requires, its subsidiaries. Forward-looking statements include any statements that do not refer to historical facts, including statements relating to the proposed acquisition. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, strategy, target and other similar expressions, or future or conditional verbs such as aim, anticipate, believe, could, expect, intend, may, plan, predict, seek, should, strive and will. These statements are made pursuant to the "safe harbour" provisions of applicable securities laws in Canada and the United States Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements are subject to inherent risks and uncertainties and are based on assumptions, including assumptions about future economic conditions and courses of action. These assumptions may ultimately prove to have been inaccurate and, as a result, our actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements. There is significant risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from those described in the forward-looking statements. Among the factors that could cause actual results to differ materially include, but are not limited to, those relating to whether the proposed acquisition will be approved by the TELUS Digital Board, whether any definitive agreement will be successfully negotiated and executed in connection with the proposed acquisition, whether the proposed acquisition or any other transaction will be consummated, the possibility for the proposed acquisition, even if a definitive agreement is entered into, not to be completed on the terms and conditions, or on the timing, contemplated thereby, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required shareholder and court approvals and other conditions to the closing of the proposed acquisition or for other reasons, the possibility that TELUS may not realize any or all of the anticipated benefits from the proposed acquisition, as well as the other risk factors as set out in our 2024 annual management's discussion and analysis and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at and in the United States (on EDGAR at Additional risks and uncertainties that are not currently known to us or that we currently deem to be immaterial may also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as required by applicable law, TELUS disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. This cautionary statement qualifies all of the forward-looking statements in this document. About TELUS TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company, generating over $20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives worldwide through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Operating in 32 countries around the world, TELUS Digital (TSX and NYSE: TIXT) is a leading digital customer experience innovator that designs, builds, and delivers next- generation solutions, including AI and content moderation, for global and disruptive brands across strategic industry verticals, including tech and games, communications and media, eCommerce and fintech, banking, financial services and insurance, healthcare, and others. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed $1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company. For more information about TELUS, please visit follow us at @TELUSNews on X and @Darren_Entwistle on Instagram. Media Relations Steve Beisswanger [email protected]
Winnipeg Free Press
37 minutes ago
- Winnipeg Free Press
The Latest: Air India plane bound for London crashes with 242 passengers onboard
Air India says a London-bound flight crashed shortly after taking off from Ahmedabad airport Thursday with 242 passengers and crew onboard. The airline said flight AI 171, a Boeing 787-8, crashed into a residential area near the airport in Ahmedabad, a northwestern city with a population of more than 5 million, five minutes after taking off at 1:38 p.m. local time. The plane was bound for London Gatwick Airport and was carrying 169 Indians, 53 Britons, seven Portuguese and one Canadian, Air India said. Visuals on local television channels showed smoke billowing from the crash site. Here's the latest: ___ Shares of Boeing tumble in pre-market trading Boeing said in a brief statement: 'We are aware of initial reports and are working to gather more information.' The crash comes days before the opening of the Paris Air Show, a major aviation expo where Boeing and European rival Airbus will showcase their aircraft and battle for jet orders from airline customers. Boeing has been in recovery mode for more than six years after Lion Air Flight 610, a Boeing 737 Max 8, plunged into the Java Sea off the coast of Indonesia minutes after takeoff from Jakarta, killing all 189 people on board. Five months later, Ethiopian Airlines Flight 302, a Boeing 737 Max 8, crashed after takeoff from Addis Ababa, Ethiopia, killing 157 passengers and crew members. Shares of Boeing Co. tumbled nearly 9% before trading opened in the U.S. ___ Last major passenger plane crash in India was in 2020 In August 2020 an Air India Express Boeing-737 skidded off a hilltop runway in southern India, killing 21 people. The worst air disaster in India was on Nov. 12, 1996, when a Saudi Arabian Airlines flight collided midair with a Kazakhastan Airlines Flight near Charki Dadri in Haryana state, killing all 349 on board the two planes. ___ India's foreign minister says 'deeply shocked' by the crash India's foreign minister, Subrahmanyam Jaishankar, said he was 'deeply shocked to learn about the flight crash in Ahmedabad' in a post on X. 'Our prayers are with the passengers and their families,' he said. ___ Passengers included Indian, British, Portuguese and Canadian nationals Air India in a statement said there were 242 passengers and crew members on board the Boeing 787-8 aircraft. Of these, 169 are Indian nationals, 53 British, one Canadian and seven Portuguese. The injured are being taken to the nearest hospitals.
Winnipeg Free Press
37 minutes ago
- Winnipeg Free Press
House will vote on Trump's request to cut funding for NPR, PBS and foreign aid
WASHINGTON (AP) — House Republicans are moving to cut about $9.4 billion in spending already approved by Congress as President Donald Trump's administration looks to follow through on work by the Department of Government Efficiency when it was overseen by Elon Musk. The package to be voted on Thursday targets foreign aid programs and the Corporation for Public Broadcasting, which provides money for National Public Radio and the Public Broadcasting Service, as well as thousands of public radio and television stations around the country. Republicans are characterizing the spending as wasteful and unnecessary, but Democrats say the rescissions are hurting the United States' standing in the world. 'Cruelty is the point,' Democratic leader Hakeem Jeffries of New York said of the proposed spending cuts. The Trump administration is employing a tool rarely used in recent years that allows the president to transmit a request to Congress to cancel previously appropriated funds. That triggers a 45-day clock in which the funds are frozen pending congressional action. If Congress fails to act within that period, then the spending stands. The benefit for the administration of a formal rescissions request is that passage requires only a simple majority in the 100-member Senate instead of the 60 votes usually required to get spending bills through that chamber. So, if they stay united, Republicans will be able to pass the measure without any Democratic votes. The administration is likening the first rescissions package to a test case and says more could be on the way if Congress goes along. Republicans, sensitive to concerns that Trump's sweeping tax and immigration bill would increase future federal deficits, are anxious to demonstrate spending discipline, though the cuts in the package amount to just a sliver of the spending approved by Congress each year. They are betting the cuts prove popular with constituents who align with Trump's 'America first' ideology as well as those who view NPR and PBS as having a liberal bias. In all, the package contains 21 proposed rescissions. Approval would claw back about $900 million from $10 billion that Congress has approved for global health programs. That includes canceling $500 million for activities related to infectious diseases and child and maternal health and another $400 million to address the global HIV epidemic. The Trump administration is also looking to cancel $800 million, or a quarter of the amount Congress approved, for a program that provides emergency shelter, water and sanitation, and family reunification for those forced to flee their own country. About 45% of the savings sought by the White House would come from two programs designed to boost the economies, democratic institutions and civil societies in developing countries. The Republican president has also asked lawmakers to rescind nearly $1.1 billion from the Corporation for Public Broadcasting, which represents the full amount it's slated to receive during the next two budget years. About two-thirds of the money gets distributed to more than 1,500 locally owned public radio and television stations. Nearly half of those stations serve rural areas of the country. The association representing local public television stations warns that many of them would be forced to close if the Republican measure passes. Those stations provide emergency alerts, free educational programming and high school sports coverage and highlight hometown heroes. Advocacy groups that serve the world's poorest people are also sounding the alarm and urging lawmakers to vote no. 'We are already seeing women, children and families left without food, clean water and critical services after earlier aid cuts, and aid organizations can barely keep up with rising needs,' said Abby Maxman, president and CEO of Oxfam America, a poverty-fighting organization. Rep. Jim McGovern, D-Mass., said the foreign aid is a tool that prevents conflict and promotes stability but the measure before the House takes that tool away. 'These cuts will lead to the deaths of hundreds of thousands, devastating the most vulnerable in the world,' McGovern said. 'And at a time when China and Russia and Iran are working overtime to challenge American influence.' Republicans disparaged the foreign aid spending and sought to link it to programs they said DOGE had uncovered. Rep. Chip Roy, R-Texas, said taxpayer dollars had gone to such things as targeting climate change, promoting pottery classes and strengthening diversity, equity and inclusion programs. Other Republicans cited similar examples they said DOGE had revealed. 'Yet, my friends on the other side of the aisle would like you to believe, seriously, that if you don't use your taxpayer dollars to fund this absurd list of projects and thousands of others I didn't even list, that somehow people will die and our global standing in the world will crumble,' Roy said. 'Well, let's just reject this now.'
