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Globe and Mail
4 hours ago
- Globe and Mail
Trump raises tariffs on Canadian goods, BoC keeps rate steady and Telus' new network deal: Business and investing stories for the week of Aug. 3
Getting caught up on a week that got away? Here's your weekly digest of The Globe's most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more. U.S. President Donald Trump signed an executive order Thursday evening increasing tariffs on some Canadian goods. The order, effective at midnight on Aug. 1, raises the tariffs that Mr. Trump imposed on Canadian goods in March to 35 per cent from 25 per cent — it does not, however, apply to products that meet the rules outlined in the United States-Mexico-Canada free trade agreement, known as USMCA. Prime Minister Mark Carney, in a statement early Friday morning, said the Canadian government is disappointed by Mr. Trump's actions but remains committed to the free-trade agreement. The Prime Minister disputed Mr. Trump's justification for the 35-per-cent tariff – namely that Canada is a significant source of the deadly opioid fentanyl smuggled into the United States. While the Canadian economy has mostly avoided the impact of the tariffs because the USMCA carve-out, certain industries — such as steel and aluminium, cars, and copper — will be hit harder by the changes. The Bank of Canada held its policy interest rate at 2.75 per cent for the third consecutive time as U.S. trade policy continues to muddy the economic outlook. The central bank is operating amid massive levels of uncertainty created by U.S. President Donald Trump's barrage of tariffs and attempt to rewrite the rules of global trade. Governor Tiff Macklem said there was a 'clear consensus' to hold the rate steady, but suggested the door remained open to additional rate cuts if needed, Mark Rendell reports. The bank also held off again on publishing a central forecast in its quarterly Monetary Policy Report. Instead, it detailed three potential paths for the Canadian economy that depend on the trajectory of U.S. tariffs, ranging from a mild downturn to an extended recession. Even before Mr. Trump's tariff threads, the vibrancy of Canada's business sector was already weak, but the trade war has only deepened the rut. Statistics Canada reported this week that the number of active businesses was effectively flat in April on a month-over-month basis, increasing by just 0.1 per cent. Sectors that are dependent on U.S. demand, such as mining, oil and gas extraction, experienced a sharper decline in the number of active businesses from the start of last year than other sectors, and the gap has widened since Mr. Trump returned to the White House. Statscan noted this decline began before that, and suggested other factors could be at play. Jason Kirby takes a closer look at the numbers in this week's Decoder series. After a months-long search for buyers, Telus Corp. T-T has entered a definitive agreement with the Caisse de dépôt et placement du Québec to sell a minority stake in its nationwide cellphone tower network for $1.26-billion. The Caisse, Canada's second-largest pension fund, will acquire a 49.9-per-cent stake in the infrastructure asset, which is being spun out as a new company called Terrion. The business is worth $2.5-billion, including Telus's 50.1-per-cent equity interest. Telus had $25-billion in long-term debt as of March, and intends to use all proceeds from the sale to pay some of it down. Drumeo is the brainchild of Jared Falk, an Abbotsford-born music teacher, performer and entrepreneur who first started giving drum lessons by video in the pre-streaming era of the early 2000s. Now Mr. Falk's company – Musora Media Inc. – boasts more than 100,000 paid subscribers, with offerings for piano, vocals and guitar as well. Armed with a roster of drumming legends — including Chad Smith of the Red Hot Chili Peppers, Stewart Copeland of The Police, the internet sensation known as El Estepario Siberiano, and The Rolling Stones veteran session man Steve Jordan — Drumeo appears all over the internet with viral clips of musicians showing off their signature grooves and testing themselves on unfamiliar tunes. Jeffrey Jones spoke with Mr. Falk about how he built his music lesson empire, and how Drumeo sets itself apart from the competition. Get the rest of the questions from the weekly business and investing news quiz here, and prepare for the week ahead with The Globe's investing calendar.
Toronto Sun
8 hours ago
- Toronto Sun
KINSELLA: Mark Carney's words can have real-life impacts for Jews
And sometimes pronouncements from world leaders, such as Canada's Prime Minister, can have deadly consequences Canadian Prime Minister Mark Carney (R), flanked by Canadian Foreign Affairs Minister Anita Anand, speaks during a press conference after a Cabinet meeting to discuss both trade negotiations with the US and the situation in the Middle East, at the National Press Theatre in Ottawa on July 30, 2025. Photo by DAVE CHAN / AFP via Getty Images Canada, France and the United Kingdom recognize a 'state' run by terrorists. Canada's Prime Minister accuses Israel of violating international law. The International Criminal Court issues warrants for the arrest of Israel's Prime Minister. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Sometimes, such pronouncements made by governments seem completely detached from reality. None of those countries have yet set up an embassy in Gaza City, for example. Nor has Canada commenced a court action against Israel. No country, as far as we know, has attempted to place Benjamin Netanyahu under arrest. But it would be a mistake to shrug about the pronouncements of world leaders, or to dismiss their words as meaningless symbols. For Jews, these dark days, words can have real-life impacts. Sometimes, the consequences can be deadly. CyberWell is an Internet watchdog that closely tracks antisemitism on social media. When the Israel-based non-profit finds hate online, it notifies the social media platforms, and urges them to take it down. And two recent reports by CyberWell show that the words and actions of governments can, and do, result in shocking eruptions in cyber-hate. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. A recent example: the twelve-day war between Israel, the United States and Iran took place in June 2025. That conflict saw Israel launch hundreds of airstrikes against the Islamic republic – and Iran firing thousands of ballistic missiles and suicide drones at Israeli military and civilian targets. Israel was largely seen as the victor. Read More Online, the abbreviated Iran-Israel war had a very different outcome. Online, Iran was the hands-down victor. During and after the conflict, CyberWell found, and 'across platforms like TikTok, Facebook, and X, users once again used digital spaces to post antisemitic rhetoric, incitement to violence, and coded hate speech – at times under the guise of political commentary or religious solidarity.' This advertisement has not loaded yet, but your article continues below. It's not a new phenomenon, CyberWell notes, and it's getting worse all the time: 'Each new flashpoint acts as a trigger for dangerous digital discourse that can quickly spill into real-world harm.' For example: during the Iran-Israel war, the words 'Khaybar, Khaybar, O Jews' were all over social media, in the Farsi and Arabic languages. The phrase refers to a long-ago battle in Khaybar, which was a Jewish town in what is now Saudi Arabia – and where Muslim forces massacred the Jewish population. The 'Khaybar, Khaybar, O Jews' slogan has been used, for centuries, to call for pogroms against Jews. On X, as the war commenced, that hateful phrase grew by more than 3,000% over the previous months. Midway through the conflict, it increased by nearly 7,000% over before. By the end of the war, those words had reached three million individual accounts. The Farsi version of the chant far outpaced the Arabic one, too. This advertisement has not loaded yet, but your article continues below. Some of the posters were very specific. After activist Eyal Yakoby simply posted a photo of an Israeli apartment building destroyed by an Iranian missile, '@pratynachiyar' wrote: 'Kill everyone from Israel, Iran, good job buddy…let these Jew f**kers leave Earth permanently.' A June 14, 2025, post by activist Eyal Yakoby on X that included a photo of an Israeli apartment building destroyed by an Iranian missile led to a hateful post against Jews by @pratynachiyar. Photo by Posted on X And, tragically, killings were indeed happening. As the Jew hatred was growing dramatically online – as more and more governments were showing a willingness to isolate and attack the Jewish state – actual murders happened. So, just days before the war started, two young Israeli embassy staffers were assassinated outside the Capital Jewish Museum – and the alleged shooter yelled 'Free Palestine' as he was arrested by police. Days later, an elderly Jewish woman died after being set ablaze in Boulder, Colorado – again, by an alleged killer who reportedly yelled 'Free Palestine' – a phrase that was, and is, ubiquitous online. This advertisement has not loaded yet, but your article continues below. As CyberWell puts it: 'These are not isolated incidents. They are part of a dangerous, recurring cycle that CyberWell has repeatedly warned about: inflammatory content spreads online, fuelling real-world hate and violence. Each act of violence or hate speech online reinforces the next, creating a self-perpetuating loop.' The 'loop,' as CyberWell puts it, has recently gone like this: witless Western governments demonize Israel, which leads to antisemitic propagandists doing likewise online, which then legitimizes – and leads to – actual antisemitic crime and violence. It needs to stop. Police and prosecutors need to get better at fighting antisemitic crime. Social media platforms need to do a better job of moderating what's being posted online. And governments, like Canada's, need to recognize that what they say can sometimes result in real-life harm. Sometimes, in fact, it can result in death. Toronto Blue Jays Columnists Canada Sunshine Girls Toronto & GTA
Winnipeg Free Press
10 hours ago
- Winnipeg Free Press
Myanmar military courts sentence 12 to life for human trafficking, including Chinese nationals
BANGKOK (AP) — Myanmar military courts have sentenced a dozen individuals — including five Chinese nationals — to life imprisonment for their involvement in multiple human trafficking cases, state-run media reported Saturday. According to the Myanma Alinn newspaper, the convictions stem from a range of offenses including the online distribution of sex videos and the trafficking of Myanmar women into forced marriages in China. In one case, five people — including two Chinese nationals identified as Lin Te and Wang Xiaofeng — were sentenced to life imprisonment by a military court in Yangon, the country's largest city, on July 29. They were found guilty under Myanmar's Anti-Trafficking in Persons law for producing sex videos involving three Myanmar couples and distributing the footage online for profit. In a separate case, the same court sentenced a woman and three Chinese nationals — Yibo, Cao Qiu Quan and Chen Huan. The group was convicted of planning to transport two Myanmar women, recently married to two of the convicted Chinese men, into China, the report said. Additionally, three other people received life sentences from a separate military court for selling a woman as a bride to China, and for attempting to do the same with another woman. In another case, a woman from Myanmar's central Magway region was given a 10-year sentence on July 30 for planning to transport two Myanmar women to be sold as brides to Chinese men, the report said. Human trafficking, particularly of women and girls lured or forced into marriages in China, remains a widespread problem in Myanmar, a country still reeling from civil war after the military seized power from the elected government of Aung San Suu Kyi in February 2021. The persisting conflict in most areas of Myanmar has left millions of women and children vulnerable to exploitation. A 2018 report by the Johns Hopkins Bloomberg School of Public Health and the Kachin Women's Association Thailand (KWAT) — which works to prevent and respond to trafficking in northern Kachin and Shan states bordering China — estimated that about 21,000 women and girls from northern Myanmar were forced into marriage in China between 2013 and 2017. In its latest report published in December, KWAT noted a sharp decline in the number of trafficking survivors accessing its services from 2020 to 2023. It attributed the decline to the COVID-19 pandemic and border closures caused by ongoing conflict following the army takeover. However, it reported a resurgence in 2024 as people from across Myanmar began migrating to China in search of work. Maj-Gen Aung Kyaw Kyaw, a deputy minister for Home Affairs, said during a June meeting that the authorities had handled 53 cases of human trafficking, forced marriage and prostitution in 2024, 34 of which involved China, according to a report published by Myanmar's Information Ministry. The report also said that a total of 80 human trafficking cases, including 14 involving marriage deception by foreign nationals, were recorded between January and June this year.
