Stellantis Sees 70% Profit Plunge in 2024 As It Searches For A New CEO
Stellantis (NYSE: STLA) ended 2024 with net profit down 70% year-over-year, dropping to €5.5 billion from €18.6 billion in 2023, largely driven by diminished global shipments, temporary gaps in product offerings, and the strategic drive to reduce dealer inventories. The carmaker reported net revenues of €156.9 billion, reflecting a 17% decline from €189.5 billion in […]
Nippon Steel Doubles Down on $14.1-B US Steel Pursuit
Nippon Steel remains resolute in its aim to acquire US Steel (NYSE: X) despite encountering political resistance and shifting statements from the White House. Nippon Steel President Tadashi Imai, speaking in Tokyo, addressed President Donald Trump’s recent suggestion that Nippon Steel might opt to invest in US Steel instead. “The starting point for our discussions […]
Fetterman Launches Petition Drive for Federal Marijuana Legalization
Pennsylvania Democratic Senator John Fetterman has initiated a petition campaign urging federal marijuana legalization, calling it a “vital chance” to reform criminal justice and boost economic opportunities. The petition, distributed through an email campaign on Saturday, emphasizes Fetterman’s long-standing support for cannabis reform. “Legal weed means more revenue, jobs, justice, and freedom,” the senator’s campaign […]
Make Copper Great Again? Trump Admin Mulls Tariffs On Copper
The Trump administration is reportedly weighing tariffs on copper imports in a bid to reinvigorate domestic production. Commerce Secretary Howard Lutnick confirmed that President Donald Trump has ordered an investigation of the Section 232 of the Trade Expansion Act of 1962 into copper imports, laying groundwork for possible tariffs. The initiative, modeled after his steel and aluminum […]
High Energy Costs Force Irving Paper to Slash Operations by 50%
Irving Paper announced Monday it has permanently shuttered 50% of its operations in Saint John, New Brunswick, resulting in immediate layoffs for 140 employees. The company attributed the decision to “uncompetitive industrial electricity rates” in New Brunswick that have made it increasingly difficult to remain viable in the international market. Mark Mosher, Irving Paper’s vice […]
UK Hits Russia With New Sanctions as Trump Signals Relief
PM Starmer also announced £4.5 billion in military assistance for 2025
Microsoft Data Center Pullback Sparks Wall Street Jitters Over AI Spending
Microsoft‘s (Nasdaq: MSFT) reported cancellation of data center leases has triggered investor anxiety about the sustainability of massive artificial intelligence investments, despite the tech giant’s insistence that its $80 billion infrastructure spending plan remains intact. TD Cowen analysts reported Friday that Microsoft had scrapped leases totaling “a couple of hundred megawatts” of capacity with at […]
Bank of Canada Warns Tariffs Would Slash Growth, Push Inflation Higher
Bank of Canada Governor Tiff Macklem warned on Friday that proposed US tariffs would permanently lower Canada’s economic output by 2% and nearly erase growth for two consecutive years while pushing inflation above target. Speaking to the Mississauga Board of Trade, Macklem presented the central bank’s most detailed analysis yet of the potential damage from […]
Tariff Tantrum: Trump Targets Canada’s Digital Tax
President Donald Trump recently signed a memo aimed at retaliating against nations that tax American tech giants, with Canada’s digital services tax at the forefront. The 3% levy on revenue earned is applied domestically to large technology companies such as Apple, Amazon, and Google. Trump’s memo does not mention Canada by name in isolation—over 30 […]
Trudeau Puts Troop Deployment In Ukraine ‘On the Table’ After Kyiv Visit
Prime Minister Justin Trudeau’s recent visit to Kyiv brought fresh urgency to the debate over Canada’s involvement in Ukraine’s ongoing conflict with Russia. Speaking alongside European leaders gathered to mark the third anniversary of Russia’s full-scale invasion, Trudeau signaled that sending Canadian troops remains an option in any forthcoming peace deal. “We will work with […]