Latest news with #Selkirk
CTV News
3 days ago
- Business
- CTV News
‘Absolutely ludicrous': Selkirk mayor sounds off on Trump doubling steel, aluminum tariffs
Mayor Larry Johannson weighs in on Trump's tariff hike and what it means for Selkirk's steel industry and local economy. The mayor of Selkirk believes newly beefed-up U.S. tariffs on all steel and aluminum imports will stop the city's mill from trading with the southerly neighbour altogether. 'At 50 per cent, it's just too expensive. It's just too much,' Selkirk Mayor Larry Johannson said Friday in an interview with CTV Morning Live Winnipeg. On Tuesday, U.S. President Donald Trump announced the U.S. will double tariffs on steel and aluminum imports from all countries, including Canada, hiking the imposed tax from 25 to 50 per cent. Trump claims the increased tariffs are aimed at stopping foreign countries from offloading low-priced, excess steel and aluminum into the U.S. market. The changes came into effect Wednesday. Gerdau Ameristeel Manitoba is one of Selkirk's largest employers, with roughly 550 residents working at the mill. According to Johannson, the company could still sell to the United States under the previous 25 per cent tariff. 'At 25 per cent, we were still seeing a lot of semi-trailers loaded with steel coming out of our plants, heading to other projects, into the U.S. and across Canada, but 50 per cent is absolutely ludicrous.' The move has forced the industry to seek out business across Canada, he said, bolstered by memorandums of understanding inked by Manitoba and other provinces to ease the flow of goods within the country. '(Tariffs) are kind of forcing us to absolutely do that. These interprovincial trade barriers, they look like they are starting to connect, and they're going to be coming down, which is a good thing,' he said. 'We're looking at a lot of other projects.' He also believes Americans are making their disapproval of the trade war known to their elected officials. The Selkirk mayor has spent time in the States as part of his mayoral duties and has heard firsthand how unpopular tariffs have become. Overall, Johansson said he remains optimistic as a lot of negotiations are happening behind the scenes. 'There's no room for failure here. We're not shutting down. We're not going to slow down. We have to make this work. We have to.' - With files from CTV's Rachel Lagacé, Lynn Chaya and Stephanie Ha
CTV News
3 days ago
- Business
- CTV News
Selkirk steel and the tariff toll
Mayor Larry Johannson weighs in on Trump's tariff hike and what it means for Selkirk's steel industry and local economy.
Fashion Network
21-05-2025
- Business
- Fashion Network
Revolution Beauty gets takeover approach, puts itself up for sale
Revolution Beauty had another twist to add to its long saga of business ups and downs on Wednesday, announcing that it has received a possible takeover offer, that it's making a big board change and that it's kicking off a formal sale process. So where do we start? Perhaps the possible offer is the best place. It said it can 'confirm that it has received a preliminary approach regarding a possible offer for the entire issued and to be issued share capital of the company'. That came after its 13 May announcement that it was 'reviewing its funding structure and in light of this [was] exploring discussions in respect of support for an equity raise from its key shareholders'. Against this background and to 'widen its strategic options, the board has now unanimously concluded that it would also be appropriate to investigate the sale of the company and therefore has decided to commence a formal sale process'. The unnamed party that made the approach has agreed to participate in that, although there's no guarantee it will result in a sale. But in order to support that process, it announced that Iain McDonald will be appointed as non-executive chair and that current chair Alistair McGeorge is standing down from the board. McDonald 'has significant PLC experience as a non-executive director, including in takeover situations, and is considered by the board to have the right skills to oversee the immediate strategic steps of the company'. He's currently a non-executive director of Debenhams Group. As for the sale process, the board is inviting 'expressions of interest from parties regarding a potential offer' before 11 June. Of course, the announcement raises as many questions as it answers. Why has McGeorge — a Debenhams Group (formerly Boohoo Group) appointee — stepped down? Where does Debenhams Group stand as it holds a more-than-27% stake in the firm? And is the appointment on a non-exec chair who's also a non-exec at Debenhams significant? It's intriguing that McDonald is also executive chairman of Selkirk and was previously a non-executive director of e-tail giant THG. Last month THG rejected a takeover approach by Selkirk for its MyProtein business, saying it was 'wholly unsolicited, largely unfunded, highly conditional and non-binding'. We're not likely to get answers to those question for a while with Revolution simply saying on Wednesday that 'further announcements will be made as appropriate'.
Fashion Network
21-05-2025
- Business
- Fashion Network
Revolution Beauty gets takeover approach, puts itself up for sale
Revolution Beauty had another twist to add to its long saga of business ups and downs on Wednesday, announcing that it has received a possible takeover offer, that it's making a big board change and that it's kicking off a formal sale process. So where do we start? Perhaps the possible offer is the best place. It said it can 'confirm that it has received a preliminary approach regarding a possible offer for the entire issued and to be issued share capital of the company'. That came after its 13 May announcement that it was 'reviewing its funding structure and in light of this [was] exploring discussions in respect of support for an equity raise from its key shareholders'. Against this background and to 'widen its strategic options, the board has now unanimously concluded that it would also be appropriate to investigate the sale of the company and therefore has decided to commence a formal sale process'. The unnamed party that made the approach has agreed to participate in that, although there's no guarantee it will result in a sale. But in order to support that process, it announced that Iain McDonald will be appointed as non-executive chair and that current chair Alistair McGeorge is standing down from the board. McDonald 'has significant PLC experience as a non-executive director, including in takeover situations, and is considered by the board to have the right skills to oversee the immediate strategic steps of the company'. He's currently a non-executive director of Debenhams Group. As for the sale process, the board is inviting 'expressions of interest from parties regarding a potential offer' before 11 June. Of course, the announcement raises as many questions as it answers. Why has McGeorge — a Debenhams Group (formerly Boohoo Group) appointee — stepped down? Where does Debenhams Group stand as it holds a more-than-27% stake in the firm? And is the appointment on a non-exec chair who's also a non-exec at Debenhams significant? It's intriguing that McDonald is also executive chairman of Selkirk and was previously a non-executive director of e-tail giant THG. Last month THG rejected a takeover approach by Selkirk for its MyProtein business, saying it was 'wholly unsolicited, largely unfunded, highly conditional and non-binding'. We're not likely to get answers to those question for a while with Revolution simply saying on Wednesday that 'further announcements will be made as appropriate'.
Times
14-05-2025
- General
- Times
Reader's recipe: courgette loaf
More than 50 years since his wife discovered 'zucchini bread' on a school exchange trip to California, John Smail has kept this taste of the Golden State alive in Scotland.' John Smail, 71, Selkirk, Scottish Borders This recipe was brought back from San Bernardino, California, by my wife, Mary, after her year-long high school exchange trip in 1969. Her host mother was a wonderful baker and wrote out the recipe for Mary to take back to the UK. I have passed it on to friends all over the globe, including Sweden, New Zealand and Switzerland. The loaf won first prize in its section at our local agricultural show. • 3 eggs• 180ml vegetable oil• 190g sugar• Two or three medium-sized courgettes, grated
