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5 minutes ago
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Rio Tinto-backed Aluminerie Alouette to invest $1.1 billion in Quebec
-- Aluminerie Alouette, an aluminum producer partially owned by Rio Tinto (NYSE:RIO), plans to invest up to C$1.5 billion ($1.1 billion) to modernize its facilities in northern Quebec, Bloomberg reported Wednesday. The company has reached a new electricity supply agreement with Hydro-Quebec, the Quebec government-owned power utility, according to Bloomberg, citing sources familiar with the matter who requested anonymity. This investment comes at a time when the aluminum industry faces challenges from the White House's implementation of 50% tariffs on foreign aluminum imports. These tariffs are expected to negatively impact both Canadian and American businesses that use aluminum as a raw material. The modernization project represents a significant capital commitment to the Canadian aluminum sector, which has been navigating trade tensions in the North American market. Related articles Rio Tinto-backed Aluminerie Alouette to invest $1.1 billion in Quebec - Bloomberg IMF urges ECB to keep rates at 2% barring inflation shocks Tariff rush lifts ASEAN exports, but BofA warns payback looms in H2 Sign in to access your portfolio
Yahoo
6 minutes ago
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Major Rental Car Company's New Policy Drives Controversy
Major Rental Car Company's New Policy Drives Controversy originally appeared on Parade. If you plan on hitting the road in a rental car or truck this summer, consumers are warning about a new policy that took effect at one of the biggest vehicle rental companies recently. Back in April, popular car and truck rental service Hertz announced it would employ artificial intelligence (AI) to check over its returned vehicles instead of tasking a human with the inspection. At the time, Hertz explained it partnered with Israeli AI vehicle inspection system company, UVeye, to "transform" how it maintains its vehicles and "bring efficiency and greater accuracy" to the process so it can "focus on our vehicles being ready when and where our customers want them." While Hertz intended the process to be smoother, some consumers complain that the new system is reason to "never rent from them again." Especially after hearing the story of one customer who returned his Thrifty rental vehicle (part of the Hertz Corporation) to the Hartsfield-Jackson Atlanta International Airport and was later charged over $400 for a 1-inch scuff discovered on a tire by the AI scanner, according to a report by The Drive. The outlet reported a $250 charge for the repair, $125 for processing, and another $65 administrative fee, totaling $440. The renter said he was made aware of the fees only minutes after dropping off the car, but could not speak to a human about it. Related: Social media has now become a hot spot for concerns sparked by the "frustrating" situation. "AI can't keep a reservation right for the amount of cars on the lot," one X user said, suggesting the entire system is flawed. "What a scam," a second declared. "How many times is Hertz charging customers for the same small scuffs," another asked, worried that a scuff picked up and paid for by one renter could then be "found" by the AI again when the next renter returns it. But those who have used it say that it doesn't work that way–some are even applauding the new policy. "Customers are directed to a web portal where they can view before-and-after photos captured by the scanners," a second X (formerly Twitter) user shared. "I've used this in Columbus OH and it was great." "I actually love this technology. It captures the before & after image of the car detail, and charges the renter who caused the damage rather than having to raise rates on the rest of us," they added. Related: In a statement first shared with USA Today, a Hertz spokesperson said: "Over 97% of cars scanned with this technology show no billable damage, proving that the vast majority of rentals are incident-free. Vehicle damage has long been a common pain point across the car rental industry for customers and companies alike. At Hertz, we're using this technology to tackle this head-on." "As we continue rolling out this technology, we remain committed to ongoing innovation and continuous improvement," they added, noting that any issues flagged by a customer in the chat are reviewed by a live agent. "With regards to this specific incident, a live agent reviewed this customer's escalation and manually reviewed the photos at pickup and return and confirmed the damage was new," the spokesperson said. "While we understand that some customers may hope for a different outcome, we want to ensure every case is handled fairly and objectively, using the best information available." Hertz said it's working on integrating its live agents into its app to make communicating with a customer service representative easier. The rental company, which also owns Dollar Car Rental, Thrifty Car Rental, and Firefly Car Rental, said it began the rollout of its AI scanners at the Atlanta airport this spring, but plans to expand to most major U.S. airports by the end of the year. Next: Major Rental Car Company's New Policy Drives Controversy first appeared on Parade on Jul 2, 2025 This story was originally reported by Parade on Jul 2, 2025, where it first appeared.
Yahoo
8 minutes ago
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Gamblers Raise Alarm Over $1.1 Billion Tax Hike in Trump's Bill
(Bloomberg) -- Gamblers are raising the alarm about a $1.1 billion tax hike buried in the Senate GOP's tax bill that would slash their net winnings and potentially charge income tax when they break even or lose money. NYC Commutes Resume After Midtown Bus Terminal Crash Chaos Struggling Downtowns Are Looking to Lure New Crowds What Gothenburg Got Out of Congestion Pricing Massachusetts to Follow NYC in Making Landlords Pay Broker Fees California Exempts Building Projects From Environmental Law In the Senate's roughly 900-page version of President Donald Trump's multitrillion-dollar tax bill, gamblers would only be able to deduct 90% of their losses when calculating their net income. Under current law, a bettor can deduct the entirety of their losses, up until the amount of their gambling winnings. 'I've spoken to many clients and they're very concerned,' Zachary Zimbile, an accountant with experience in gambling regulations, said in an interview. 'If you add a 10% penalty, it's going to eat into a lot of their profit.' Professional gamblers recently took to social media to rail against the measure, which would take effect next year, and urged Republicans to change it. Congressional scorekeepers have calculated it will net the government $1.1 billion through 2034. Representative Dina Titus, a Democrat who represents the Las Vegas area, said she is seeking a fix. 'It will have a big impact on gaming,' Titus said. 'They thought it was just a handful of professional poker players, but a lot of amateurs have come out of the woodwork to oppose it too.' Betting has become increasingly popular in the US in recent years with the rise of online firms like FanDuel Inc., DraftKings Inc. and Kalshi Inc. The industry brought close to $72 billion in US commercial gaming revenue in 2024, marking a fourth-straight record revenue year, according to the American Gaming Association. It has also been boosted by the Trump administration, with Donald Trump Jr. serving as a strategic adviser for Kalshi. A spokesperson for Kalshi declined to comment. FanDuel and DraftKings didn't immediately respond to a request for comment. The American Gaming Association declined to comment. Still, casinos and gaming firms are set to benefit from the extension of corporate tax cuts for interest, research and development, and expensing. The measure is now headed to the House after the Senate passed it Tuesday. SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too America's Top Consumer-Sentiment Economist Is Worried How to Steal a House China's Homegrown Jewelry Superstar Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
