OTC Markets Group Welcomes Goldgroup Mining Inc. to OTCQX
Goldgroup Mining Inc. begins trading today on OTCQX under the symbol 'GGAZF.' U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
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Global News
23 minutes ago
- Global News
How Canada-U.S. trade talks could shape the potential recession risk
As the deadline looms for a new trade deal between Canada and the U.S., economists say what the deal contains could determine a key possibility — how bad a potential recession could be. On Monday, Prime Minister Mark Carney said he would only sign a deal that was 'a good deal for Canada' and that 'negotiations are at an intense phase' towards a new trade deal with the U.S. If one isn't reached by Aug. 1, U.S. President Donald Trump has threatened to hit Canada with more tariffs of 35 per cent. At the same time, economists are watching closely for the risk of a recession. 'We are so far sticking to a view that we see a very shallow technical recession in Canada for the second quarter, third quarter. Very mild contraction,' said Sal Guatieri, director and senior economist at BMO Capital Markets. Story continues below advertisement However, that depends on one key caveat. 1:57 'Trump ate von der Leyen for breakfast': EU leaders react to 'unbalanced' trade deal with US 'That assumes we do work out a trade deal with the U.S. and it keeps that average effective tariff rate close to six per cent (and) does not pile on too many new sectoral duties in the months ahead,' he added. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy With a six per cent effective tariff rate, Canada's economy could potentially start recovering by the end of the year, Guatieri said. 'It does hurt, but it's manageable and something that Canadian businesses ultimately could adjust to and live with.' The reason the effective tariff rate on Canada is relatively low, at six per cent, is that goods that comply with the Canada-U.S.-Mexico Agreement (CUSMA) were exempt from Trump's broad-based tariffs back in April. Story continues below advertisement Not everyone agrees that a recession is likely, either. 'We don't have a recessionary outlook again for later this year. If CUSMA exemptions do hold, which is what we're expecting right now, we don't expect there will be significant changes to the outlook either,' said Claire Fan, senior economist at RBC. 3:32 'It may seem like it's a long way (off)': Carney says Canada needs 'right' trade deal with U.S. While Canada is expecting a trade deal with some tariffs, Fan said CUSMA exemptions might help Canada avoid a worst-case scenario economic downturn since it puts it ahead of the U.S.'s other major trade partners. 'It reflects a comparative advantage as a key exporter to the United States. It's not so much about the exemptions themselves, but more so what it means for Canadian exporters relative to, let's say, exporters from Europe or from one of the other major U.S. trade partners,' she said. Story continues below advertisement If the status quo holds, Fan expects that the 'bulk of the damage is already done' to Canada's labour market. However, if Trump's tariffs on Canadian steel, aluminum and automobiles continue after Friday, those sectors could see further losses. 'It's a blow for the auto industry (and to) steel and aluminum. There will be some pain there, maybe further layoffs. But for the overall economy and other industries, it is a manageable tariff to absorb, Guatieri said. 4:59 Canada – U.S. trade negotiations ahead of deadline 'We are seeing very pronounced damage in sectors where you would expect damage to be showing up. These are largely very trade-exposed sectors. Manufacturing is one, and a lot of the related sectors, for example, warehousing and transportation,' Fan said. So far, the damage from tariffs has been most heavily localized in southern Ontario and Quebec, Fan said. Story continues below advertisement 'If you were to look at the unemployment rate in southern Ontario, it's approaching 10 to 11 per cent in Windsor and is really elevated in other parts like Peterborough as well. In Toronto, too, which is above where the national average is,' she said. If CUSMA exemptions hold, Guatieri expects much of the country to escape the worst effects of Trump's trade war. 'We think most of the rest of the country is somewhat insulated from this trade war. Unfortunately, Ontario and Quebec are not,' he said.
Winnipeg Free Press
23 minutes ago
- Winnipeg Free Press
Protesters offer less-than-Friendly Manitoba welcome to U.S. ambassador to Canada
Dozens of protesters lined the streets outside the Winnipeg Art Gallery Tuesday afternoon, denouncing a Winnipeg Chamber of Commerce luncheon featuring the United States' ambassador to Canada. Waving signs and chanting slogans, the crowd — which grew to nearly 100 — slammed American foreign policy, accusing Ambassador Pete Hoekstra of representing an administration that promotes division and undermines global co-operation. Canada and the U.S. have been involved in contentious trade talks for months, and another of President Donald Trump's deadlines for imposing additional punishing tariffs on Canadian imports is quickly approaching on Thursday. Some demonstrators also took aim at the chamber itself for offering Hoekstra a platform during a politically fraught time, while others turned their criticism toward Prime Minister Mark Carney. 'Carney, Carney, you can't hide, we know you are on Trump's side!' some in the crowd shouted. The rally began with about 50 people just before noon outside the WAG on Memorial Boulevard, then shifted around the corner to St. Mary Avenue. There, protesters greeted arriving luncheon guests with chants, boos and pointed signage. 'We're here saying we need an independent foreign policy, we can't follow the U.S.,' said Sarah Brobridge, who was with the Winnipeg Coalition for Peace and Sovereignty. 'We can't follow them into the murderous, genocidal wars they're dragging us into. We're standing against the five per cent (of GDP contribution to NATO's) budget, which is going to rip away from social needs, housing and health care — everything that people need here (in Canada). And we're standing up against the U.S.'s decline into fascism.' The group also questioned the chamber's choice of speaker, arguing it should reflect on why it invited someone whose 'avowed purposes include making Canada an appendage of the U.S. war machine and to make Canada the 51st state.' The Free Press has requested comment from the chamber. Weekday Mornings A quick glance at the news for the upcoming day. Protesters also called out Premier Wab Kinew and Mayor Scott Gillingham, demanding answers for what they called 'silence' and a lack of criticism over Hoekstra's visit. 'I am opposed to American imperialism anywhere, and the fascist trends going on there and the threat that poses to Canada and the rest of the world,' said Ann LeTouche, who held a sign that said, 'Tariff this, sphincter face,' and another that read, 'Justifying mass murder is psychopathy.' LeTouche also critiqued the rally's focus, noting that some of the messaging veered off topic. 'We need to focus on the fact that this is a visit of an ambassador for a country that's threatened to invade us,' she said. Scott BilleckReporter Scott Billeck is a general assignment reporter for the Free Press. A Creative Communications graduate from Red River College, Scott has more than a decade's worth of experience covering hockey, football and global pandemics. He joined the Free Press in 2024. Read more about Scott. Every piece of reporting Scott produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
Nantucket officials accuse offshore wind developer of going into hiding since Trump's election
BOSTON (AP) — Officials in Massachusetts' Nantucket island on Tuesday accused the developer of the nation's first utility-scale offshore wind project of not responding to their safety queries since Donald Trump's election after a massive wind turbine broke apart last year and its fragments washed up on beaches. Nantucket's select board gave Vineyard Wind two weeks to respond to a list of demands, including that it follow deadline requirements for notifying local officials of emergencies. Violations could result in fines up to $250,000, the town said, although it was unclear how such a policy would be enforced. Board member Brooke Mohr suggested the Trump administration's skepticism toward offshore wind projects is to blame for what Mohr said was Vineyard Wind's lack of communication. The town said Vineyard Wind, which is owned by Denmark-based Avangrid Renewables and Copenhagen Infrastructure in partnership with Spain-based Iberdrola, has failed to respond to private requests for changes to its protocols. Litigation may be a next step if the town's demands are unmet, officials said. 'We believe that they are concerned about the change in policy at the federal level and drawing scrutiny from the new administration, which has ordered a review of offshore wind permitting practices,' Mohr said during a virtual briefing with news reporters. 'However, hiding is not the solution to their problems, nor is it the solution to our problems.' Vineyard Wind did not immediately respond to a request for comment sent by The Associated Press. The project about 14 miles (23 kilometers) off nearby Martha's Vineyard was approved by President Joe Biden's administration in May 2021, a key step in Biden's plans to increase U.S. reliance on offshore wind by 2030. Wednesdays What's next in arts, life and pop culture. Fiberglas fragments of a massive wind turbine blade that broke apart off Nantucket began washing ashore last summer during the peak of tourist season after pieces of the blade at the Vineyard Wind project began falling into the Atlantic Ocean in July. GE Vernova, which agreed to pay $10.5 million in a settlement earlier this month to compensate island businesses that suffered losses as a result of the blade failure, blamed a manufacturing problem at one of its factories in Canada and said there was no indication of a design flaw. It reinspected all blades made at the factory and removed other blades made there from the Vineyard Wind location. In the final days of the Biden administration, federal regulators lifted a suspension order on the project, pending the removal of all installed blades manufactured by GE Vernova. On Tuesday, town officials accused Vineyard Wind of violating a contract made with Nantucket five years ago that requires the company to communicate regularly with the town at all stages of project development and deployment. It also said Vineyard Wind hasn't done enough to reduce light pollution or engage the town with its emergency response plans following the blade failure. Nantucket officials refused to include Vineyard Wind as a signatory in the $10.5 million settlement, citing the company's 'lack of leadership, transparency, and stewardship' following the blade failure.
