A Canadian recession seemed certain. Not anymore
We know that Trump is likely to get Prime Minister Mark Carney's signature on a trade deal we won't like, maybe worse than we've braced for.
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Cision Canada
28 minutes ago
- Cision Canada
Windfall Mining Group inc. reaches a new milestone in its development in Quebec Français
MONTREAL, July 27, 2025 /CNW/ - Windfall Mining Group inc. (WMG), Canadian subsidiary of the global gold group Gold Fields Limited, announces today a series of key developments to support the advancement of the Windfall project and to strengthen its sustainable presence in Quebec. Set to become Canada's next major mining complex, the Windfall Project is located in the Eeyou Istchee James Bay territory in Québec, 115 km east of Lebel-sur-Quévillon. Second Series of Responses to COMEX and Update of Key Studies for the Advancement of the Windfall Project WMG confirms the continuation of the environmental assessment process through the submission of the second series of responses to COMEX questions. This revision reflects the company's ESG performance standards, adapted to Canadian and Quebec regulatory requirements. "WMG remains committed to developing a low-carbon operation, including through its partnership with the Cree First Nation, positioning Windfall among the lowest carbon-intensity gold projects globally", said Mike Fraser, CEO of Gold Fields. "The update of our environmental impact assessment study with the submission of this second series of responses to COMEX demonstrates our commitment to advancing the Windfall project in accordance with the best practice environmental, social, and regulatory standards." added Andréanne Boisvert, Vice President, Environment and Community Relations. Visual Identity: The Lynx Gives Way to the Lion Following the full acquisition of the Windfall project in 2024, WMG is adopting the corporate group's visual identity. The company's transitional logo is being replaced by that of Gold Fields, marking the integration of the project into the global Gold Fields family, which operates across four continents. "This change reflects Gold Fields' long-term commitment to Canada and its intention to establish a sustainable strategic presence in Québec—one of the world's most respected mining jurisdictions—and across Canada", concluded Fraser. Strategic Appointment to Propel the Windfall Project GMW is also proud to announce the appointment of Sylvain Lessard as General Manager. A mining engineer by training, Mr. Lessard brings over 30 years of experience managing complex projects in Quebec, in Canada and internationally, particularly in the underground mining sector. Having assumed the role on June 16, 2025, Mr. Lessard brings a wealth of experience to lead operations at the site. About Gold Fields Gold Fields is a globally diversified gold producer with nine operating mines in Australia, Chile, Ghana, South Africa and Peru, and one project in Canada. Its Australian assets span the world-renowned Goldfields mining region and employ more than 3,700 people in Western Australia. Our purpose is to create enduring value beyond mining by delivering positive and sustainable value for our employees, communities, and business partners. Our shares are listed on the Johannesburg Stock Exchange (JSE) and our American depositary shares trade on the New York Exchange (NYSE). Forward-looking statement This announcement contains forward-looking statements. All statements other than statements of historical fact included in this announcement may be forward-looking statements. Forward-looking statements may be identified by the use of words such as "aim", "anticipate", "will", "would", "expect", "may", "could", "believe", "target", "estimate", "project" and words of similar meaning. These forward-looking statements, including among others, those relating to Gold Fields' future business strategy, development activities (including the permitting, development and operations of the Windfall project) and other initiatives, business prospects, financial positions, production and operational guidance are necessary estimates reflecting the best judgement of the senior management of Gold Fields and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth 3 in Gold Fields' Integrated Annual Report 2023 filed with the Johannesburg Stock Exchange and annual report on Form 20-F filed with the United States Securities and Exchange Commission (SEC) on 28 March 2024 (SEC File no. 001-31318). Readers are cautioned not to place undue reliance on such statements. These forward-looking statements speak only as of the date they are made. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events. These forward-looking statements have not been reviewed or reported on by the Company's external auditors
Canada News.Net
an hour ago
- Canada News.Net
Columbia agrees to pay $220 million to US administration over protests
NEW YORK CITY, New York: Columbia University has agreed to pay more than US$220 million to the U.S. government to regain federal research funding that had been cut earlier this year. The Trump administration had canceled the funding due to what it said was the university's failure to adequately address antisemitism on campus, especially during student protests linked to the Israel-Hamas conflict. The settlement includes two parts: $200 million will be paid over the next three years as a general settlement. $21 million will go to resolve claims that Jewish employees faced discrimination after the October 7, 2023, Hamas attack on Israel. Claire Shipman, Columbia's acting president, said the agreement helps the university move forward after months of federal pressure and uncertainty. Earlier this year, the government had already canceled over $400 million in grants and had threatened to take away more federal money. To restore its funding, Columbia agreed to make significant changes, including: Revising its student discipline process. Applying a federal definition of antisemitism in both classroom teaching and student investigations. Reviewing its Middle East studies to ensure they are balanced. Hiring new faculty for its Institute for Israel and Jewish Studies. Ending any programs that aim for race-based goals, quotas, or "unlawful" diversity targets. Reporting to a federal monitor to prove its diversity, equity, and inclusion (DEI) programs don't break the law. Although Columbia did not admit to any wrongdoing, it agreed to these changes as part of the settlement. Shipman said the university's independence would be maintained despite the reforms. Education Secretary Linda McMahon praised the deal, calling it a significant turning point in how universities that accept federal money are held accountable. She added that Columbia's changes could be a model for other elite colleges that want to show they support fairness and open debate. President Trump also commented, saying Columbia had agreed to stop "ridiculous DEI policies" and to admit students based only on merit. He warned that other colleges may soon face similar action if they misused federal funds or failed to protect student rights. Columbia's agreement follows months of controversy. The university became one of the first targets of the Trump administration's crackdown on pro-Palestinian protests and rising campus tensions. Some Jewish students said they faced insults, social exclusion, and embarrassment in class during the demonstrations. However, other Jewish students joined the protests, saying they were criticizing Israel's policies — not Judaism or Jews. The university has had three interim presidents in the past year. Its leadership admits the campus atmosphere must change. As part of the deal, Columbia will now ask international applicants why they want to study in the U.S. and will promote respectful discussion on campus. Columbia also agreed to share information with the government — if asked — about foreign students on visas who are suspended or expelled due to protests. This could make it easier for the Trump administration to deport certain student activists. Just a day before the deal was announced, Columbia said it would expel, suspend, or revoke degrees from more than 70 students who joined a pro-Palestinian protest inside the main library and a previous demonstration held during alumni weekend. The government pressure began with cuts in funding. A former student protester, Mahmoud Khalil, became the first non-citizen arrested as part of Trump's push to deport pro-Palestinian activists. Later, the Justice Department searched dorm rooms to see if the university was hiding people in the country illegally. Columbia responded that it would follow the law. Columbia was the first significant test case in Trump's efforts to reshape higher education, but attention later shifted to Harvard, which decided to challenge the administration in court. Trump's administration has used federal funding to force colleges to change. So far, over $2 billion has been withheld from top schools including Cornell, Brown, Northwestern, and Princeton. In one case, the University of Pennsylvania lost $175 million over a dispute involving transgender athlete Lia Thomas, which was returned after the school changed its policies. The administration is also pressuring public universities. The University of Virginia president resigned in June after a federal probe into DEI practices, and a similar investigation just began at George Mason University. This settlement at Columbia marks a turning point in how federal money is used to shape what happens on U.S. college campuses.
Canada News.Net
an hour ago
- Canada News.Net
Paramount merger wins OK after lawsuit tied to Trump settles
NEW YORK CITY, New York: A new era in Hollywood is taking shape. U.S. regulators have approved the US$8.4 billion merger of Paramount Global and Skydance Media, paving the way for tech heir David Ellison to take control of some of the most iconic names in entertainment, including CBS, Paramount Pictures, and Nickelodeon. However, the deal, approved this week after a partisan 2-1 vote by the Federal Communications Commission (FCC), has been shadowed by political controversy and questions over media independence in an election year. Paramount recently paid $16 million to settle a lawsuit brought by President Donald Trump over CBS News' editing of a "60 Minutes" interview with his Democratic opponent Kamala Harris. This raised concerns that the settlement was made to smooth the merger's path. FCC Democrat Anna Gomez, the lone dissenter, condemned the move as "cowardly capitulation" and criticized the agency for imposing "never-before-seen controls over newsroom decisions." Chairman Brendan Carr, a Republican and Trump appointee, said the settlement had no bearing on the FCC's decision and emphasized that Skydance provided assurances of a commitment to unbiased journalism. Those assurances include the appointment of an ombudsman to review complaints about editorial bias and a pledge not to implement any diversity, equity, and inclusion (DEI) initiatives, an issue Trump has called discriminatory. Carr praised the pledges, saying they would allow CBS to "operate in the public interest" and called it "another step forward" in eliminating DEI-based policies. Some lawmakers remain unconvinced. Senators Edward Markey and Ben Ray Luján said the timing of the lawsuit settlement and merger approval "reeks of the worst form of corruption." Comedian and CBS host Stephen Colbert had called the settlement "a big fat bribe" on air. His show was canceled days later. Paramount claimed the decision was financial. The merger ends the Redstone family's decades-long hold on Paramount. Shari Redstone, who took over as chair in 2019, had hoped to strengthen the company against streaming giants. But Paramount's market value has plunged in recent years, accelerating the push for a sale. David Ellison, son of Oracle founder Larry Ellison, will become chair and CEO of the new entity. Jeff Shell, former NBCUniversal chief, will serve as president. Chris McCarthy, one of Paramount's current co-CEOs, will exit after the deal closes. The FCC's review lasted over 250 days—far longer than its 180-day target.
