Nova Scotia opening bids for uranium exploration at 3 sites
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CBC
an hour ago
- CBC
U.S. commerce secretary dismisses question that free trade with Canada is dead
U.S. Commerce Secretary Howard Lutnick is dismissing the question of whether U.S. free trade with Canada is dead, calling the notion "silly" and saying a substantial amount of Canadian goods enter the U.S. tariff-free under the current North American free trade deal. "We have a plan called [the United States-Mexico-Canada Agreement], virtually 75 per cent of all goods coming from Mexico and Canada are already coming tariff-free," Lutnick said in an interview on Face the Nation that aired Sunday morning on CBS. But in the same breath, Lutnick suggested tariffs on Canada are here to stay, for now. "The president understands that we need to open the markets. Canada is not open to us. They need to open their market. Unless they're willing to open their market, they're going to pay a tariff," he added. The commerce secretary's comments come days after Prime Minister Mark Carney told reporters in French there's "not a lot of evidence right now" that the U.S. is willing to cut a deal with Canada without some tariffs included. WATCH | Carney says 'not a lot of evidence' for tariff-free deal: Carney says 'not a lot of evidence' for tariff-free deals with U.S. 5 days ago But the prime minister also said on Tuesday that Canada has "almost free trade" with the U.S. — a reference to tariff exemptions granted to Canadian goods that are compliant with USMCA, known as the Agreement (CUSMA) among Canadians. According to an RBC report released last month, approximately 79 per cent of U.S. imports from Canada were "explicitly duty free" in January 2025. That figure rose to approximately 89 per cent in April. "Why should we have our country be wide open while theirs is closed? This is an 80-year wrong that President Trump is trying to fix, and our businesses are going to really, really enjoy it," Lutnick told host Margaret Brennan. CUSMA negotiations looming Lutnick also told Brennan that Trump "is absolutely going to renegotiate [CUSMA], but that's a year from today." "It makes perfect sense for the president to renegotiate it. He wants to protect American jobs. He doesn't want cars built in Canada or Mexico when they could be built in Michigan or Ohio. It's just better for American workers," he added. CUSMA is not officially up for renegotiation until 2026, but some Canadian business leaders and others have called on the federal government to kick-start talks for the sake of economic stability. There are also lingering questions over whether negotiations will yield another trilateral trade pact. Last November, Ontario Premier Doug Ford pitched ditching Mexico and signing a bilateral deal with the United States — a move Alberta Premier Danielle Smith agreed was worth exploring. That suggestion sent a chill through Canada-Mexico relations, but Carney and Mexican President Claudia Sheinbaum appear to be closing the gap. The two leaders met with each other in June during the G7 summit in Kananaskis, Alta., and "looked forward to meeting again in Mexico in the coming months," according to a news release published on the prime minister's website. Canada-U.S. trade talks continue Carney and his negotiating team continue to work toward a deal with Trump in hopes of avoiding the U.S. president's latest threat — a 35 per cent tariff on all Canadian goods. The U.S. president made the threat in a letter he posted on social media that was addressed to the prime minister. He said the tariffs would come into effect on Aug. 1 and that the United States would increase levies if Canada retaliates. Lutnick said the White House will cut better deals with large countries that open their economies "to ranchers, fishermen, farmers and businesses," but if they keep tariff barriers in place then "it seems fair" to impose levies. WATCH | Trump threatens 35 per cent tariffs on Canadian goods: Trump threatens 35% tariff on all Canadian goods | Hanomansing Tonight 10 days ago In his letter, Trump cited fentanyl "pouring" into the U.S. from Canada as the reason for his latest tariff threat, even though data continues to show minimal amounts of the drug are crossing the Canada-U.S. border compared to the U.S.-Mexico border. Trump also took a shot at Canada's supply management system, a long-standing irritant that he claims leads to Canada imposing tariffs as high as 400 per cent on American dairy products. High Canadian tariffs only apply if the agreed tariff-rate quotas on U.S. dairy imports under USMCA are reached or exceeded. The U.S.-based International Dairy Association , but also claims it's because of "protectionist measures" from Canada that limit exports.
Globe and Mail
3 hours ago
- Globe and Mail
Ground-breaking Development in Bitcoin Mining: VNBTC Launches Cloud Mining Platform Helping Investors Earn Bitcoin Mining Rewards
LONDON, July 20, 2025 (GLOBE NEWSWIRE) -- The recent rise of Bitcoin price past the 120K saw crypto become the hottest topic in the financial and crypto investment space. According to Michael Saylor's sentiment, 'the only thing better than Bitcoin is acquiring more Bitcoin'. As such, Bitcoin accumulation may not be dying down anytime soon. However, how can we continue earning crypto profits from Bitcoin even when the price drops? VNBTC introduced a groundbreaking development in the Bitcoin mining industry: Bitcoin cloud mining. Bitcoin mining has been known to be among the most lucrative ways to earn Bitcoin with massive profits, especially when the market surges. Unlike traditional Bitcoin mining, which requires insane initial cost and mining expertise, VNBTC offers an easier entry into the industry. Through VNBTC, ordinary individuals start earning crypto mining benefits with just $100. How VNBTC Makes Bitcoin Mining Accessible to All Buying Bitcoin comes with Bitcoin price fluctuations, which could lead to massive losses. Also, Bitcoin mining is quite costly, making it almost impossible to participate. But VNBTC offers an incredible solution. Through contract planning, users can rent hashpower from VNBTC's various data centers through its online platform. With mining activities fully managed and maintained by VNBTC, the process becomes fully hands-off, offering the perfect passive income opportunity. Investors are not only earning Bitcoin mining rewards, but it's also 100% passive. Apart from Bitcoin, VNBTC enables mining of eight other cryptocurrencies, including Litecoin, Ethereum, and Dogecoin, through diverse cloud mining contracts. Free Dogecoin Cloud Mining to Explore Currently active, VNBTC is running a free Dogecoin cloud mining contract by offering a $79 welcome bonus. The Dogecoin cloud mining plan costs $79, which the platform helps pay for, technically making it a free trial plan. At the end of the Dogecoin cloud mining contract, a user can easily top up and purchase other cloud mining contracts ranging from $100 to $70,000 with higher ROIs. Few Steps to Join VNBTC Start effortless Dogecoin and Bitcoin mining by going to the VNBTC official website and registering. Choose from the diverse cloud mining contracts and purchase one that suits your goals. Daily crypto profits will automatically be displayed on your dashboard. Media Contact: James Carter Marketing Specialist, VNBTC
Globe and Mail
4 hours ago
- Globe and Mail
Trump Tailwind? How the BBB Could Boost DraftKings Stock
President Donald Trump made headlines with the signing of his first major piece of legislation: the One Big Beautiful Bill (BBB). Most of the attention has gone toward the extension of Trump's tax cuts and changes to federal programs like Medicaid. However, embedded in the approximately 870-page law is a significant change to how the federal government taxes gamblers. This has notable implications for the rapidly growing sports betting giant DraftKings (NASDAQ: DKNG). The bill could ultimately provide a significant tailwind for the consumer discretionary stock, as it hurts those that cause DraftKings to lose money. Let's dive into the specifics and why investors should care below. The BBB Makes Winning Money Betting Much Harder For Pros The BBB contains a key change in tax law with huge ramifications for those who cut into DraftKings' profits: professional gamblers. Traditionally, bettors can deduct 100% of their losses from their winnings when they calculate their income taxes. That means if they had $100,000 in winning bets and $100,000 in losing bets, they made no profit and paid no additional tax. However, due to the BBB, beginning in 2026, gamblers will only be able to deduct 90% of their losses. Under the same scenario, they could now only deduct $90,000 from their $100,000 in winnings. This means that their taxable income will be $10,000 higher. They will now have to pay taxes on that $10,000, turning what was once a break-even year into a loss. Although this change technically affects all gamblers, it is likely to have the most detrimental effect on professionals. They make their living by betting and are much more likely to report their betting gains and losses on their taxes. Overall, the BBB makes it much harder for these professional bettors to generate an after-tax profit. So, what does this mean for DraftKings? DraftKings' Margins Look Poised to Get a Boost For pros to earn money, someone has to lose money; that someone is DraftKings. As it becomes much harder for these bettors to turn a profit, they are likely to cut back significantly on their bets at DraftKings. Thus, the chance that DraftKings will lose money decreases, as a higher percentage of users will be casual bettors. This can help push DraftKings' margins up as it pays out less to winners. Still, DraftKings' betting volume should decrease, slowing their revenue growth. However, the company is likely fine with this. Pro bettor volume does little good for the company if it is losing money on these bets anyway. Comments made by renowned gambler Steve Fezzik crystallize the negative effect on professional bettors. Fezzik is the only two-time winner of the Las Vegas Hilton SuperContest, widely regarded as the world's most prestigious sports betting contest. On a recent podcast appearance, Fezzik called the Big Beautiful Bill 'a disaster for professional sports bettors." For the reasons explained above, Fezzik said DraftKings is 'perfectly happy' with the BBB changes. He ultimately suggested that many pro bettors will consider taking a year off gambling if the new rule is not amended by the start of 2026. These comments clearly point to the idea that the BBB is good for DraftKings. If margins increase due to these changes, DraftKings' stock could benefit substantially in 2026. DraftKings Growth Prospects Remain Strong Despite Near-Term Headwinds While potential boosts to margins are great, DraftKings still needs to grow its betting volume and revenues for the stock to gain. The company is also dealing with betting tax hikes from multiple states that are likely to negatively impact its growth. Illinois enacted a law that requires sportsbooks to pay a tax of $0.25 on the first 20 million wagers. For any wagers over that limit, the tax increases to $0.50. In response, DraftKings and competitor Flutter Entertainment (NYSE: FLUT) will charge Illinois bettors a $0.50 fee per bet. Increasing costs for bettors are likely to negatively impact volume. Still, the long-term outlook for DraftKings' volume remains strong. Currently, only 30 states, as well as the District of Columbia and Puerto Rico, allow online sports betting. The states that do not allow online betting include Texas and California, which hold around 20% of the U.S. population. Thus, DraftKings has a great chance to grow its addressable market through further legalization. This could lead to a significant boost in volumes over time. This, combined with pushing out pro bettors, could create a perfect storm for the stock in the long run. Where Should You Invest $1,000 Right Now? Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
