Canada Joins NATO’s 2% Club as Alliance Hits Record $1.4 Trillion Spending
NATO released its annual defense spending estimates Thursday, showing member nations will reach a historic $1.404 trillion in defense expenditures for 2025, with 31 of the alliance’s 32 countries meeting the 2% GDP spending benchmark for the first time since its establishment in 2014. The report, published by NATO headquarters, shows the United States leading […]
French PM: Next Generation To Pay For Debt Accumulated For The “Comfort Of The Boomers”
France’s Prime Minister François Bayrou says debt was piled up to guarantee the “comfort of the boomers,” shifting the bill to younger generations, as parliament readies a September 8 confidence vote on his leadership along with his €43.8 billion austerity plan. On television he called the young “the victims,” saying they “will have to pay […]
Soma Gold Swings to Profit in Q2 2025 Despite Higher Costs, Lower Output
Soma Gold (TSXV: SOMA) reported its financial results for Q2 2025, with revenue of $23.0 million, a modest 1.4% year-over-year increase from $22.7 million last year, as higher realized gold prices was offset by a steep drop in gold sales volume. Cost of sales were relatively flat at $17.3 million, leading a marginal decline in […]
Canada Sees GDP Shrink In Q2 After 7.5% Drop In Exports
Canada’s economy shrank in the second quarter of 2025, with real gross domestic product falling 0.4 percent following a 0.5 percent gain in the previous quarter. The contraction was primarily triggered by steep declines in exports and reduced business investment in machinery and equipment, even as robust household spending, rapid inventory accumulation, and lower imports […]
Strathcona Resources To Reject Cenovus Offer On MEG Energy, Intends To Increase Stake Further
Strathcona Resources (TSX: SCR) isn’t about to let a definitive agreement between MEG Energy (TSX: MEG) and Cenovus Energy (TSX: CVE) get in the way of their attempt to acquire MEG. Strathcona last night declared that, after talking with “fellow MEG shareholders over the past week,” they intend to continue their pursuit of the acquisition […]
Uranium Names Rally On Cameco 20% Guidance Cut
Cameco (TSX: CCO) has slashed its 2025 McArthur River/Key Lake forecast to 14–15 million U₃O₈ pounds (100% basis) from 18 million, a 3–4 million-pound cut that hit the tape after market. The company’s share, 69.8% basis, falls to 9.8–10.5 million pounds from 12.6 million pounds. Management pinned the downgrade on development delays and slower-than-expected ground […]
US Points To Private Actors As Denmark Summons Envoy Over Greenland Ops
Denmark summoned the top US diplomat in Copenhagen after reports that at least three Trump-linked Americans ran covert influence operations in Greenland. The foreign ministry said outside interference is “unacceptable.” Danish broadcaster DR’s report alleges one American compiled a list of “US-friendly” Greenlanders and tracked opponents while others cultivated political and business contacts. The broadcaster […]
Two-Thirds Of India’s Exports To US Set To Face Trump’s 50% Tariffs
The imposed 50% tariff on Indian goods by the US recently took effect: the 25% levy slapped on July 30 and another 25% a week later. Estimates say roughly two-thirds of exports are hit and India’s US shipments could fall around 42% by 2026. The new top rate covers gems and jewellery, garments, footwear, furniture […]
Portugal’s President Says Trump Is A “Russian Asset”
Portuguese President Marcelo Rebelo de Sousa has accused President Donald Trump of being “a Russian asset” in the Ukraine war, arguing Washington has favored Moscow in recent dealings. Speaking at the PSD Summer University, Rebelo de Sousa said in Portuguese, “the top leader of the world’s greatest superpower is, objectively, a Soviet—or Russian—asset. He functions […]
CIBC Sees 17% Net Income Jump In Q3 2025 Despite Higher Credit Loss Provision
CIBC (TSX: CM) reported Q3 2025 revenue of $7.25 billion, up 10% year over year from $7.02 billion. Non-interest expenses were $3.98 billion, up from $3.68 billion, reflecting higher technology and compensation spend. Provision for credit losses was $559 million, up from $483 million, with higher impaired provisions in Canadian Personal and Business Banking and […]