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Mint
a minute ago
- Mint
Canada Talks Up Pension Funds' Financial Muscle as Lever in US Trade Talks
Canada's major pension funds could boost their investments in the US, a top Canadian cabinet minister said, as the country looks to negotiate a trade agreement with the Trump administration. Dominic LeBlanc, the minister responsible for US trade, is in Washington for talks with US lawmakers. He brought up Canada's pension funds when asked if President Donald Trump will seek a specific pledge for more investment into the US. 'If they're looking for countries that invest massively in the United States, that's great news for Canada,' LeBlanc said in Washington after the meetings. 'Our pension funds alone have over $1 trillion of investment in the United States. That can potentially grow by $100 billion or more a year, and that's just the big nine Canadian pension funds.' The US has offered the idea of increased foreign investments as one option for some partners in exchange for more favorable trade treatment. Trump said this week that the US has reached a trade deal with Japan that includes a promise of a $550 billion Japanese-backed fund for investing in the US, though terms remain unclear. The US and South Korea have also discussed creating an investment vehicle for US projects, people familiar with the matter told Bloomberg News. LeBlanc stopped short of saying the government would force pension funds to increase their US assets or invest in specific American projects as a quid pro quo for lower tariffs from Trump. Canada's public pension managers are significant investors in US infrastructure and other assets. The largest, the Canada Pension Plan Investment Board, had 47% of its capital allocated to the US as of the end of March. Its recent US deals included a joint venture with Equinix Inc. to raise $15 billion to build new data centers, including in the US. But traditionally those pension funds are shielded from political interference in their investment decisions. CPPIB had C$714 billion under management as of March 31. Michel Leduc, a spokesperson for CPPIB, said in an interview that the fund is 'not part of any negotiations' and 'not being asked to invest more in the US,' though 'there's been some outreach from the Canadian government to understand the facts.' CPPIB is expected to grow to C$1 trillion by the early 2030s and 'obviously you will see the dollars being more significant in the US' with that growth, Leduc said. LeBlanc said he met with Commerce Secretary Howard Lutnick on Wednesday night and they had a 'productive, cordial discussion.' On Thursday he met with Republican senators including Tim Scott of South Carolina, Shelley Moore Capito of West Virginia and Roger Marshall of Kansas. But the minister was vague on the question of whether Canada can reach a trade deal with the US by Aug 1. Trump has threatened to hike US tariffs on Canadian imports to 35% on that day, up from 25% — though White House officials have suggested they'll continue exempting goods covered by the North American free trade pact known as USMCA. 'Canadians expect us to take the time necessary to get the best deal we can in the interest of Canadian workers,' LeBlanc said. He said Canada will only sign an agreement once Prime Minister Mark Carney 'decides that it's the best deal we can get.' Earlier this week, Carney himself lowered expectations for an agreement in the short term. He told reporters that Canada's aim 'is not to reach a deal whatever it costs,' but would instead use all the time it needs to reach the best outcome. Carney described the negotiations as complex, in part because the Trump administration has a number of objectives 'that change from time to time.' For now, the Canadian economy has some breathing room because many products, including Canada's vast exports of crude oil, fuel and fertilizer, are exempt from tariffs when they're shipped under the rules of the US-Mexico-Canada Agreement. Yet Canada still faces US tariffs and duties on a few key sectors: autos, steel, aluminum and lumber. Carney's team has been looking for a path forward on eliminating or at least reducing those tariffs. Kirsten Hillman, Canada's ambassador to the US, told reporters that American officials have taken note of Canada's recent actions to limit foreign steel imports — particularly from China. 'There is a time when the deal is the right deal, and it's important for us to be in a position to continue negotiating til we get to that point,' she said. 'Some of the measures that we're taking, including in steel last week, are designed to help us have the route that we need to get where we need to go.' This article was generated from an automated news agency feed without modifications to text.
Time of India
14 minutes ago
- Time of India
Hockey Canada trial verdict: Judge finds all 5 former ice hockey players not guily in sexual assault case
Judge Cites Unreliable Testimony, Says Crown Failed to Prove Guilt Live Events Who Were the Accused in the Hockey Canada Case? Michael McLeod Dillon Dube Cal Foote Alex Formenton Carter Hart Sexual Assault Case Background Hockey Canada Scandal: Lawsuit, Resignations, and Lost Sponsors Key Issues at Hockey Canada Trial: Consent, Memory, and Intoxication Crown vs Defence Highlights FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel In a dramatic conclusion to one of Canada's most watched trials, thewere acquitted today after being accused ofa woman in a hotel room in 2018 in London, Ontario, where they had attended a Hockey Canada gala, as reported by Maria Carroccia delivered the verdict of, ruling that the Crown had failed to prove the allegations beyond a reasonable doubt, according to the had reviewed all the testimony and evidence from the highly publicised eight-week trial over the course of several hours before declaring the men not guilty, as reported by described that the complainant, known as 'EM', whose evidence was not "credible or reliable," as reported by BBC. The judge highlighted inconsistencies in her testimony and conflicts between her recollections, video recordings, and witness accounts, as per the report. Carroccia said that "the Crown cannot meet its onus on any of the counts before me," as quoted by READ: Who died today? From Hulk Hogan to Chuck Mangione to Anne Burrell - world lost these stars today The five Canadian ice hockey players, who were all players with the(NHL) when the allegations surfaced are:EM, who was at that time 20 years, had initially reported the alleged assault to police in 2018, as per the report. The investigation was closed in 2019 but reopened in 2022 following reports that Hockey Canada used players' registration fees to pay an undisclosed settlement to the woman who made the accusations, as reported by READ: When will Battlefield 6 release and what can players expect? Here is what gamers need to know After the scandal led the Canadian federal government to freeze Hockey Canada's funding for 10 months, a number of major companies either paused or cancelled their sponsorships with the national governing body, as reported by Reuters. Hockey Canada has said that it would no longer use the fund financed by player registration fees to settle sexual assault claims, and the organisation's CEO and board of directors had stepped down, as reported by Carroccia acknowledged that the case rested heavily on the issue of consent and EM's memory of the night, as per the BBC report. She pointed to inconsistencies in her account, such as conflicting details about who purchased drinks, and also pointed out that EM's statements reflected an "uncertain memory" that did not line up with evidence presented in the trial, as reported by videos of the encounter were shown during the trial, one recorded without EM's knowledge, according to the report. While the judge clarified that these videos do not legally prove consent under Canadian law, she noted they did show EM "speaking normally, smiling," and that EM "did not appear to be in distress," as quoted by BBC. The judge highlighted, that undercut the Crown's argument that EM did not leave the room out of fear, according to the Crown argued that EM had no motive to fabricate the incident, pointing out that the woman's testimony was credible as "intoxication does not equal unreliability" and that any contradictions in her testimony were minor, as reported by BBC. They emphasised that she first reported the assault to police in 2018, long before the Hockey Canada lawsuit was filed and later settled for C$3.5 million ($2.5 million), according to the also highlighted that, as per text messages between the players, it allegedly showed that it was McLeod's idea to invite his teammates to the room and that the players allegedly engaged in "getting their story straight" by drafting a narrative that EM had consented to all sexual activity, as reported by defence countered that EM was a willing participant and later experienced regret, according to the report. Other players in the room who were not charged testified that she was 'vocal' and expressive about what she wanted sexually, as reported by BBC. The defence also pointed out that intoxication in this case did not equal "incapacity", submitting video evidence suggesting EM had not shown signs of extreme intoxication, as reported by McLeod, Dillon Dube, Cal Foote, Alex Formenton, and Carter Hart, all former NHL players, were acquitted today, as per the BBC Carroccia found the complainant's testimony inconsistent and unreliable. The Crown failed to meet the legal standard of proof.
Time of India
an hour ago
- Time of India
Ontario court rules in favor of former Team Canada world junior players in 2018 hockey sexual assault allegations
Sammy Kogan/The Globe and Mail In a high-profile case that has gripped the Canadian hockey world, five former members of the 2018 Team Canada World Junior roster were acquitted Thursday of all charges related to sexual assault allegations stemming from an incident in London, Ontario. The decision comes after months of legal proceedings, delays, and intense public scrutiny surrounding the role of Hockey Canada and its handling of the case. Former Team Canada players found not guilty in high-profile 2018 hockey sexual assault trial Justice Maria Carroccia of the Ontario Court of Justice delivered the ruling, acquitting Michael McLeod, Alex Formenton, Carter Hart, Dillon Dube, and Callan Foote of all charges related to an alleged group sexual assault that took place following a Hockey Canada gala in June 2018. McLeod had also faced an additional charge of being a party to the offence. The complainant, referred to in court as E.M., alleged that after a night of dancing and drinking at a downtown London bar, she voluntarily accompanied McLeod to a hotel room. There, she claimed, McLeod invited his teammates in, and that multiple players took turns sexually assaulting her over the course of several hours. In delivering her verdict, Justice Carroccia stated she did not find E.M.'s evidence to be 'credible or reliable,' leading to the complete acquittal of all five accused. 2018 Hockey Canada sexual assault case marked by trial delays, mistrial, and public scrutiny The trial began in late April 2025 and was marred by repeated delays, including a mistrial and the dismissal of a second jury. The legal process drew national attention not only because of the players' identities but also due to broader conversations around accountability in hockey culture and institutional response from organizations like Hockey Canada. The case fueled widespread public debate and prompted federal investigations into how Hockey Canada handled sexual misconduct claims. Though the criminal proceedings have now concluded, civil litigation and internal reviews may still continue in the aftermath of this ruling. With all five former Team Canada players acquitted, the ruling marks the end of a long and closely watched legal chapter. While the players are now cleared of criminal charges, the broader conversation around sexual misconduct in hockey and institutional responsibility is likely far from over. FAQs: 1. Were any of the players currently active in the NHL during the trial? No, none of the five players were active in the NHL during the trial. All had either taken leaves of absence or were without NHL contracts at the time. 2. Was the complainant identified publicly? No, her identity is protected by a court-imposed publication ban and she was referred to only as 'E.M.' throughout the trial. Also Read: Vancouver Canucks interested in free agent forward Jack Roslovic despite tight NHL cap space For real-time updates, scores, and highlights, follow our live coverage of the India vs England Test match here. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
