logo
Trump WARNS Canada After Ending 'Very Difficult' Trade Talks

Trump WARNS Canada After Ending 'Very Difficult' Trade Talks

Time of Indiaa day ago

U.S. President Donald Trump has abruptly cut off ongoing trade negotiations with Canada, citing the country's digital services tax on U.S. tech giants. He described the move as 'a direct and blatant attack on our country' and vowed to impose new tariffs on Canadian goods within the next week. Canada PM Mark Carney's office issued a measured response, stating: 'The Canadian government will continue to engage in these complex negotiations with the United States in the best interests of Canadian workers and businesses.' Watch.
Read More

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Iron dome: How useful is Israel's shield?
Iron dome: How useful is Israel's shield?

Mint

time27 minutes ago

  • Mint

Iron dome: How useful is Israel's shield?

America's intervention in the Israel-Iran conflict has not stopped missile exchanges and defence analysts remain agog with how Israel's 'iron dome' has held up as a shield. It hasn't proven foolproof, but Israel claims it has neutralized over 80% of Iran's projectiles. Also Read: Mint Quick Edit | The US blasts in: A forever war in Iran? This dome has three layers. The first, which foiled attacks from Gaza and Lebanon, uses relatively cheap interceptors for short-range volleys. But longer-range Iranian missiles have forced the use of its David's Sling and Arrow systems to intercept cruise and ballistic missile onslaughts with interceptors that cost over $1 million a pop. Also Read: Donald Trump's war dilemma: Should America put boots on the ground in Iran or not? While Iran's fusillades have flagged, rough estimates suggest Israel's shield ran up a nightly ammunition bill that peaked at $300 million. A high strike rate may make this seem worthwhile. Notably, Arrow can stop nukes too. Also Read: Israel-Iran conflict: Echoes of history haunt West Asia Yet, let's not forget why the US shelved its 'Star Wars' plan of the 1980s for a US-wide shield against nukes. While it would've been hugely costly to set up, it could not guarantee that no nuclear warhead would ever get through; no dome could be doom-proof. This drove home the point that, ultimately, peace via diplomacy is a country's only real security.

US Senate narrowly advances Trumps' controversial One Big Beautiful Bill Act in a 51-49 turnout
US Senate narrowly advances Trumps' controversial One Big Beautiful Bill Act in a 51-49 turnout

United News of India

timean hour ago

  • United News of India

US Senate narrowly advances Trumps' controversial One Big Beautiful Bill Act in a 51-49 turnout

Washington, June 29 (UNI) In a nail-biting vote, the Republican-led U.S. Senate has pushed forward President Donald Trump's huge 'One Big Beautiful Bill Act' - a key move towards getting it passed before the upcoming July 4 break. The mammoth 940-page bill scraped through a procedural vote late on Saturday night, 51-49. Two Republicans surprisingly sided with Democrats in opposing the measure, highlighting its divisive nature, reports New York Post. The vote now allows formal debate to kick off on the legislation. The bill aims to make Trump's 2017 tax cuts permanent, boost spending on defence and border security, and cut money for certain welfare programmes. President Trump hailed the outcome on Truth Social, calling it a "GREAT VICTORY." Trump has lobbied for House and Senate Republicans to fast-track the legislation so it lands on his desk by his self-imposed July 4 deadline. The measure would make Trump's 2017 tax cuts permanent, end taxation on tips and overtime, boost border security funding and scrap green-energy tax credits passed during the Biden administration. However, Democratic Senate leader Chuck Schumer criticised Republicans for rushing the process, demanding the entire bill be read aloud on the Senate floor to ensure proper scrutiny. After the bill is read, lawmakers will have up to 20 hours to debate its contents before a final vote. The House of Representatives already narrowly approved a version of this bill in May. If the Senate passes it, the bill will return to the House for final approval before landing on the President's desk for signing into law. This bill is a cornerstone of Trump's economic agenda, aiming to cement his tax cuts while boosting defence and border spending, often at the expense of social programmes. Its passage would significantly reshape US fiscal policy. UNI ANV SSP

The stock-market rally is moving beyond Big Tech and investors are thrilled
The stock-market rally is moving beyond Big Tech and investors are thrilled

Mint

time2 hours ago

  • Mint

The stock-market rally is moving beyond Big Tech and investors are thrilled

The summer stock rally is broadening beyond big tech. Megacap technology stocks such as Nvidia, Microsoft and Broadcom led the market's rapid, tariff-spurred selloff earlier this year, only to rebound just as quickly a few weeks later when trade fears eased. Now, with economic fears diminished and optimism growing that the Trump administration will take a milder stance on trade, the recovery has expanded to include stocks across a more diverse group of sectors, such as financials, industrials and utilities. The number of stocks in the benchmark S&P 500 closing above their 50-day moving average has climbed recently to levels last seen in the fall, before Donald Trump's election victory launched an end-of-year rally. And in another sign of breadth, a measure that tracks the number of stocks rising versus those declining notched a new high on Friday. While the so-called Magnificent Seven tech stocks still hold investors' attention—and sway over the market—a broader participation in the recovery has helped propel the Nasdaq composite and the S&P 500 to all-time-highs in June. It could also signal that stocks will keep climbing through the summer, analysts say. 'We've seen this before: big tech leads and the market follows," said Adam Turnquist, chief technical strategist at LPL Financial. 'It seems like we are dusting off that playbook." Wall Street generally views improving breadth as a signal of a healthy stock market and a sustained advance. Whether the trend continues will depend on a few uncertainties still looming in the second half of the year: potential conflict in the Middle East, the path of interest-rate cuts from the Federal Reserve and the final outcome of President Trump's tariff plans. 'As long as things can stay stable, then this market is not exhausted by any stretch of the imagination," said Tom Essaye, founder of the Sevens Report, a market analysis firm. Market breadth has improved as investors who missed out on tech stocks' historic rebound search for new opportunities in different industries, Essaye said. He called it the 'FOMO trade," referencing the acronym for 'fear of missing out." Others have made longer-term bets in less popular industries. Jamie Cox, a managing partner at Harris Financial Group in Richmond, Va., didn't increase his proportion of big-tech holdings over the past few months even as prices dipped. But in recent weeks, his strategy—which includes a blend of defense, financial and large-cap international shares—has started to pay off. 'I'm surprised it took this long," he said. 'It's been a long time coming." Cox, who manages $1.2 billion at Harris, said that, in recent months, he has heard from clients looking to diversify the stocks in their portfolios. 'That lends itself to owning different things than just the most effective of the tech stocks," he said, such as shares of defense contractors Lockheed Martin and RTX Corp. 'You buy the less-aggressive, more tried-and-true, boring stocks." The recovery hasn't worked its way through every corner of the market. Small-cap stocks still lag behind major indexes. It might take a significant shift in the outlook to change that, said George Pearkes, macro strategist at Bespoke Investment Group. 'We would have to see a change in risk appetite." Some investors think that a confidence boost could come sooner than expected. Eric Teal, chief investment officer at Comerica Wealth Management, said he is adding midcap, small-cap and even microcap companies. He is buying shares of domestic banks that he thinks won't be affected by future tariffs, and said the Fed's rate cut could also boost smaller firms. 'The broadening out that we've seen over the last number of months is not something that's going to be short-lived," Teal said. It is unlikely that the market's biggest tech names will fade into the background soon, analysts said. Optimism for artificial intelligence, which powered tech stocks' ascendance to new highs, is still top-of-mind for professional and individual investors alike. But as tech shares have rebounded, so have valuations: Some large-cap names traded at more than 30 times their expected earnings over the next year last week, compared with an S&P 500 average of about 22 times. Those rich prices could be another nudge for traders to start snapping up shares in different industries, said Brian Buetel, a managing director at UBS Private Wealth Management. 'Nobody disagrees that the Mag Seven are just extremely expensive," he said. 'People forget there are sectors of the market that are on sale—that are cheap." Write to Hannah Erin Lang at and Roshan Fernandez at

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store