Shipping Collapse Accelerates as Tariffs Trigger COVID-Level Disruption
The US shipping industry is experiencing a sharp and sudden contraction, with container bookings plummeting, port activity slowing, and freight volumes approaching pandemic-era lows—signaling an economic shockwave fueled by the new administration’s sweeping trade embargo. Observers notice that bookings for container ships “almost immediately collapsed” after the Trump administration imposed aggressive new tariffs. At the […]
India Suspends Trade with Pakistan Following Deadly Kashmir Attack
India has suspended all remaining formal trade with Pakistan and revoked visas for Pakistani nationals following a deadly terror attack in Kashmir that killed 26 people, mostly Indian tourists, officials said on Friday. The attack in Pahalgam, a popular tourist destination in Indian-administered Kashmir, has pushed the nuclear-armed neighbors closer to conflict, with troops exchanging […]
Hudson’s Bay to Shutter Remaining Stores as Liquidation Begins
Canadian retailer Hudson’s Bay Co announced Thursday it will liquidate its remaining six Hudson’s Bay stores and one Saks Fifth Avenue location, beginning April 25th. The company, which operates The Bay and TheBay.com, said it believes a viable bid for the current six-store model is unlikely. Liquidation sales will offer discounts of 40-70% at Hudson’s […]
Trump Slashes Energy & Mining Permitting Timelines Down To 28 Days
President Donald Trump has directed the Department of the Interior to cut permitting timelines for energy and mining projects on federal lands to just 28 days—a radical departure from the months- or years-long reviews typically required. The directive will apply to fossil fuels such as oil, gas, and coal, as well as uranium, geothermal, critical […]
Trump Insists Trade Talks Underway, Beijing Firmly Denies
US President Donald Trump on Thursday insisted trade talks with China are taking place, directly contradicting Beijing’s denial of any ongoing negotiations. “They had a meeting this morning… It doesn’t matter who ‘they’ is. We may reveal it later, but they had meetings this morning, and we’ve been meeting with China,” Trump told reporters. Hours […]
Carney Admits Trump Raised ’51st State’ Comments in March Call
Liberal Leader Mark Carney admitted Thursday that US President Donald Trump discussed making Canada the “51st state” during their March 28 telephone conversation, contradicting his earlier characterization of the call. Carney, who previously described the conversation as “respectful regarding Canada’s sovereignty,” confirmed a Radio-Canada report revealing Trump’s annexation comments. The Liberal leader maintained he told […]
Teck Resources See Q1 2025 Net Income Swing To $370M From Loss
Teck Resources (TSX: TECK.B) has reported its Q1 2025 financials, with quarterly revenue surged 41% year-over-year to $2.29 billion, up from $1.62 billion in Q1 2024. Gross profit more than tripled to $536 million from just $169 million a year ago. Teck attributes this spike primarily to a favorable pricing environment and higher sales volumes […]
NG Energy Sees Magico-1X Production Hit 12.2 MMcf/d
NG Energy (TSXV: GASX) this morning is reporting that it has seen steady production volumes from two of its wells at the Sinu-9 Block, with each well producing over 10 MMcf/d of gas. At Magico-1X, NG Energy saw the well increase production from 7.4 MMcf/d at a 32/64″ choke to 12.2 MMcf/d at a 50.5/64″ […]
Agnico Eagle Posts Record Net Income in Q1 2025 Despite Lower Gold Sales And Surging Tax Bill
Agnico Eagle Mines (TSX: AEM) posted a record-breaking net income of $814.7 million in Q1 2025, more than doubling its $347.2 million profit from the same quarter last year. The dramatic increase, up 135%, was largely driven by a 40% year-on-year surge in realized gold prices to $2,891/oz. Adjusted net income came in at $770 […]
EU Considers Ban on New Russian Fossil Fuel Contracts
European Commission officials are working on potential rules that could block EU companies from entering new contracts for Russian fossil fuels, a senior EU official told Reuters. The proposal forms part of broader efforts to decrease reliance on Russian energy sources, alongside developing legal frameworks allowing companies to terminate existing gas supply agreements without financial […]