
New York's Climate Goals Were in Tatters. Then Came the Trade War
By , Danielle Bochove, and Mathieu Dion
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New York City's access to clean electricity — already under strain — took another blow as a key Canadian province moved to respond to US tariffs with a 25% surcharge on power exports across the border.
As tempers flared in response to US President Donald Trump's decision to raise trade barriers, Ontario Premier Doug Ford told reporters on Tuesday he's prepared to go even further: 'We will not hesitate to shut off their power as well.' Three US states receive electricity from Ontario. A visibly furious Canadian Prime Minister Justin Trudeau said in a separate news conference that Trump's objective is to destroy Canada's economy in order to annex the country, and both nations will suffer as a result.

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Newsweek
an hour ago
- Newsweek
At 23, he built a $400 business in mom's basement—then sold it for millions
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. In 2014, Feliks Khaykin was 23 years old and working out of his mother's basement with $400 and a vision. Now, he has sold the business he started then for over $4 million. Khaykin, 34, from New Jersey, began startup DankStop as a direct-to-consumer online retailer for cannabis accessories. "At the time, cannabis was still very much taboo," he told Newsweek. "There were no online retailers taking it seriously yet. We saw the growing popularity and acceptance and wanted to provide a clean, modern, professional outlet." DankStop launched in April 2014 and quickly scaled into a full-fledged operation: warehouse logistics, wholesale distribution, private label brands. By 2020, the company was generating $5 million in annual revenue. A picture of the DankStop warehouse, left, and Feliks Khaykin poses in cap and shades, right. A picture of the DankStop warehouse, left, and Feliks Khaykin poses in cap and shades, right. Feliks Khaykin North America's legal cannabis sector has experienced massive growth over the past decade, fueled primarily by legalization of cannabis in the U.S. and Canada. From roughly $5 billion in 2015 to almost $45 billion in 2024, the sector is set to surge further to $355 billion by 2033. But the journey wasn't smooth. "It was our first real business, and the learning curve was brutal," Khaykin said. One of the biggest hurdles came when Google's algorithm changes wiped DankStop from search results—the company's primary traffic source. "We went from $600k/month to $100k/month overnight. It was devastating," he said. From left: The interior of the DankStop warehouse is seen before the sale. From left: The interior of the DankStop warehouse is seen before the sale. Feliks Khaykin Forced to cut costs and staff, Khaykin changed things. DankStop transformed into a third-party dropship marketplace, allowing brands to list products and fulfill orders directly. "It was a survival move that became our new model," Khaykin said. It paid off. In 2021, Canadian cannabis giant High Tide approached Khaykin with an acquisition offer. The company was buying up U.S.-based eCommerce platforms to build market share ahead of federal legalization. "It was aggressive, and we felt the timing was right," Khaykin said. DankStop sold for $4 million. Khaykin recently shared his experience in a Reddit post, inviting people to ask him anything about his experience. Here, users asked questions from the revenue and profit margins to first products and marketing approaches. Now, with a return of 999,900 percent on his original $400 investment, Khaykin isn't finished with business. He had his team had built custom software to run DankStop's operations and post-sale, and they spun those tools into a new venture: CrowdShip, a dropshipping automation platform now used by major cannabis retailers across North America. His latest project, another eCommerce solution, launched just two weeks ago. "DankStop was the beginning," Khaykin said. "But the real legacy is the software we built along the way."


Hamilton Spectator
17 hours ago
- Hamilton Spectator
Peel Regional Council approves new auditor general position
Peel Region is moving ahead with an independent Office of the Auditor General, following a July 10 council vote to adopt bylaw 39-2025 — a move officials say will strengthen public accountability and oversight of regional spending. The newly created office will operate independently from Peel's chief administrative officer and senior leadership. Its mandate includes auditing regional departments, grant recipients, certain local boards, and Peel-controlled corporations such as Peel Living. The auditor general will also operate a confidential fraud and waste hotline. 'The auditor general's independent role will provide council with clearer insights, help uncover opportunities for efficiency, and ensure we are delivering the highest value to the taxpayers of Peel,' said Regional Chair Nando Iannicca in a July 17 media release. The office is authorized under Ontario's Municipal Act, 2001, which allows municipalities to appoint an auditor general to help ensure value-for-money and quality of stewardship over public funds. The position was formally established through bylaw 39-2025, which outlines the scope of duties, appointment process, reporting structures and operational independence of the office. The auditor general will report directly to council and submit both an annual audit plan and a report on the office's activities. While the auditor general maintains sole authority over deletions or amendments to their annual audit plan, council can add items to the plan through a two-thirds majority vote. While the auditor general can audit most regional programs and entities, the bylaw excludes some local boards, including the Peel Police Services Board and Peel Board of Health, unless those boards specifically request an audit. The office will undergo an external peer review every three years and must complete an annual compliance audit. The appointment itself must be made through a council-led recruitment process and approved by a two-thirds vote of all councillors. The term may be set for up to seven years and cannot be renewed, except under exceptional circumstances approved by council. Last month, Mississauga Councillor Dipika Damerla introduced the original motion during a June 12 council meeting. While that meeting ended without a final vote due to loss of quorum, the decision was revived and finalized on July 10. 'Right now, we're the only major Canadian municipality of our size without an independent auditor general, and I think that's a glaring gap,' Damerla had said during the June 12 meeting. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
a day ago
- Yahoo
Dave Ramsey Says Tariffs Are A Lot Of Saber Rattling, Grenade Throwing And Chaos, But Actual Net Result Is Zero
A Canadian entrepreneur joined personal finance personality Dave Ramsey's 'EntreLeadership' podcast recently to talk about his company's expansion into the U.S., just as President Donald Trump threatens to impose new tariffs on Canadian goods. The timing couldn't be more tense. Entrepreneur Worries About 35% Tariff As U.S. Sales Surge The guest, who runs a DIY log cabin kit company in Ontario, Canada, said his business did CA$12 million—$8.8 million—in sales last year with CA$1.5 million in profit. They manufacture in Canada and already ship to 40 U.S. states. U.S. sales now account for about 40% of the company's volume and are growing fast, while Canadian sales have flatlined. Don't Miss: —with up to 120% bonus shares—before this Uber-style disruption hits the public markets Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — 'American production was still on the roadmap. It was more of like a 2027 or maybe 2028 issue, and now it's like, okay, do we fast-track it?' the entrepreneur said, noting concerns over possible tariffs. That concern became more urgent after Trump announced on Truth Social on July 11 that a 35% tariff on Canadian goods would take effect Aug. 1, citing fentanyl concerns and retaliatory trade actions by Canada. 'Canada's failure to stop the drugs from pouring into our country' was one reason Trump gave in a letter to Canadian Prime Minister Mark Carney. Carney pushed back the same day. 'Canada has made vital progress to stop the scourge of fentanyl in North America,' he posted on X. 'We are committed to continuing to work with the United States to save lives and protect communities in both our countries.' Trending: $100k+ in investable assets? – no cost, no obligation. Ramsey: Don't Panic. Stick To The Plan. Ramsey had a straightforward take on the tariff threats: 'So far it's amounted to a lot of chaos over nothing.' He added, 'Most of what I've seen on the tariff stuff so far... a lot of saber rattling, a lot of grenade throwing, but actual net result is zero.' Ramsey advised the entrepreneur to stick with his original plan of opening a U.S. factory in 2027 rather than rushing to avoid potential costs. 'If you get in a hurry and you do this poorly, it's going to end up costing you more,' he said. The entrepreneur noted that building a new facility would take at least 12 months from ordering equipment to full operation. Ramsey warned him that panic moves in reaction to political turbulence could backfire. 'You're going to join this crazy chaos rush thing and you're probably going to end up overpaying for some stuff just to get the thing set up,' he said. 'Which would make you wish you paid a small tariff.'Trump's broader trade push includes new letters to more than 20 countries. The remaining countries will likely face tariffs of 15% to 20%, which is above the current 10% baseline applied to most imports. Canada is the U.S.'s largest trading partner. Though Trump has framed the moves as necessary to revive U.S. manufacturing, economists warn they could raise prices and slow growth. Still, Ramsey seemed confident the current threats won't derail smart long-term planning. 'I think you've done a really good job of critical thinking on this,' he said. 'And you're doing a really good job running this business.' Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Dave Ramsey Says Tariffs Are A Lot Of Saber Rattling, Grenade Throwing And Chaos, But Actual Net Result Is Zero originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 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