U.S. booze is back on the shelf in two provinces. But is anyone buying?
Canadians in Alberta and Saskatchewan will see U.S. booze back on the shelf after the two provinces lifted their bans on American-made alcohol imports. Andrew Ferguson, the owner of an independent liquor store, says he does not expect this change to have a big impact because not a lot of people are buying American anyway.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
an hour ago
- Miami Herald
Veteran fund manager who predicted Nvidia stock rally makes surprising move
Nvidia (NVDA) shares climbed for five consecutive days this week, closing at a record high of $157.75 on June 27. The rally has made the AI chipmaker the most valuable company again, with a market cap of about $3.85 trillion, ahead of Microsoft (MSFT) and Apple (AAPL) . About three months ago, some pessimistic investors thought that Nvidia's stock had probably reached a dead end as it fell sharply amid macro uncertainties and trade policies. But the stock has gained 67% since its low in early April. Related: Veteran analyst drops bold new call on Nvidia stock Nvidia was hit hard as the U.S. tightened export restrictions on advanced chips in April. The Trump administration said Nvidia would need an export license to ship the H20 processors to China. The H20 chip was designed under the Biden administration's rules. The chipmaker took a $4.5 billion charge in the April quarter and said it would have made an additional $2.5 billion in revenue without the restriction. Nvidia's CEO, Jensen Huang, has long warned that export controls could hurt U.S. chipmakers and even threaten the country's position as the global leader in technology. "If we want the American technology stack to win around the world, then giving up 50% of the world's AI researchers is not sensible," Huang recently said on CNBC. Several developments have driven Nvidia's rally since its April low. The stock first began to recover after the U.S. and China agreed to temporarily pause the elevated tariffs. Sentiment improved further when the Trump administration scrapped the Biden-era AI diffusion rule, which was another export control on advanced AI chips. In May, shares got another boost from news that Nvidia would supply AI chips to Saudi Arabia's Humain, a rising tech player in the region. Related: Veteran analyst offers eye-popping Nvidia, Microsoft stock prediction On May 28, Nvidia posted strong fiscal first-quarter results. Adjusted earnings came in at 96 cents per share on $44.06 billion in revenue, beating Wall Street's estimates of 93 cents and $43.31 billion. The company guided for $45 billion in revenue for the current quarter, just under analysts' forecast of $45.9 billion. Nvidia said that number would have been roughly $8 billion higher without the ongoing export curbs to China. This week's rally was also helped by signs of easing U.S.-China trade tensions. Secretary of Commerce Howard Lutnick told Bloomberg that a trade deal with China has been finalized and signed. The deals said China would ship rare earth metals to the U.S. in exchange for "countermeasure" removal. But it's still unclear whether semiconductors are part of the deal, and chips remain a major sticking point in trade negotiations. As Nvidia shares climbed, Chris Versace, a Wall Street veteran fund manager who oversees TheStreet Pro's portfolio, just sold part of his stake during the rally. On June 26, Versace trimmed roughly 10% of the portfolio's Nvidia stake at $154.06. The gains were just over 100%. Related: Analyst sends bold message on quantum computing stocks after Nvidia CEO's pivot Versace began his career in equity research and now has more than 30 years of experience. He started buying Nvidia stocks in February 2024. He had predicted Nvidia's rally earlier this year, buying more shares in the dip. More Nvidia: Analysts revamp forecast for Nvidia-backed AI stockNvidia stock could surge after surprising Taiwan Semi newsNvidia CEO sends blunt 7-word message on quantum computing "We remain bullish on the prospects for both companies, especially after Wednesday night's quarterly earnings report and lifted outlook from Micron (MU) ," Versace wrote in a note on TheStreet Pro, adding that he still intended to hold Nvidia shares to "maximize AI and data center build out and AI adoption related returns." Versace said the sale reflected his stance as a "disciplined investor," adding that if Nvidia shares continue to rise and push the stock's weight back to 4.5% of the portfolio, "we'll look to lock in additional gains." As of now, Nvidia makes up 4.19% of the portfolio. Related: Top analyst sends bold message on S&P 500 The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
an hour ago
- Miami Herald
The most satisfying new cars & SUVs, according to Consumer Reports
According to TheStreet's Retirement Daily, the average American spends a whopping $3.3 million on big-ticket purchases over the course of their lifetime. Housing is their greatest financial expense, representing 44% of lifetime spending, while cars come next, at 14%. The study, which was created by One Main Financial, revealed that the average American spends $1.5 million on housing in their lifetimes, and nearly half a million dollars, or $470,000 on their automobiles. Other big-ticket items include the cost of having children ($467,220), health insurance ($290,016), saving for retirement ($195,754), and home renovations ($190,429), with lesser but still-substantial expenses going towards vacations ($118,000), furniture purchases ($61,630), education ($42,960) and weddings ($34,000). Chevrolet Equinox EV 2025 Price: $26,025–$29,625 MPG: N/A Lincoln Nautilus 2025 Price: $53,940–$77,130 MPG: Overall 30/Highway 37 Lexus NX PHEV 2025 Price: $61,140–$62,230 MPG: Overall 35/Highway 39 Lexus ES Hybrid 2025 Price Range: $41,020 MPG: Overall 42 /Highway 52 BMW X5 2025 Price: $66,300–$127,200MPG: Overall 23 /Highway 33 Toyota RAV4 Plug-in Hybrid 2025 Price: $44,265–$48,135 MPG: Overall 34 /Highway 39 BMW i4 2025 Price: $52,800–$70,700 MPGE: Overall 96 /Highway 98 Related: The 10 most popular new cars & SUVs of 2025 (so far), according to Consumer Reports The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business Insider
2 hours ago
- Business Insider
Warren Buffett is giving away $6 billion in Berkshire shares
Warren Buffett has just dropped his latest charitable donation — $6 billion worth of Berkshire Hathaway shares. The Berkshire chairman said he would donate around 12.4 million Class B shares to five charities. Buffett has pledged to give away the majority of his fortune to philanthropic causes. Warren Buffett has announced his latest charitable donation — a whopping $6 billion worth of Berkshire Hathaway shares. The 94-year-old Berkshire chairman announced Friday that he would donate about 12.4 million Class B shares to five foundations. Most of the shares — about 9.4 million ($4.6 billion worth) — are headed for the Bill & Melinda Gates Foundation Trust, which was founded by the Microsoft cofounder and his ex-wife. The Susan Thompson Buffett Foundation, named after Buffett's first wife, is set to receive about 943,000 of the shares, while roughly 660,000 are destined for each of the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation, according to a statement. Buffett, whose net worth as of Friday was $152 billion, according to the Bloomberg Billionaires Index, pledged in 2006 to give away the vast majority of his fortune to philanthropic causes, and he has since made large annual donations to these foundations. In Friday's statement, he outlined some of the math behind his 2006 pledge: "When originally made, I owned 474,998 Berkshire A shares worth about $43 billion and those shares represented more than 98% of my net worth. I have converted A shares into B shares before making contributions." "During the following 19 years, I have neither bought nor sold any A or B shares nor do I intend to do so," he continued. "The five foundations have received Berkshire B shares that had a value when received of about $60 billion, substantially more than my entire net worth in 2006. I have no debts and my remaining A shares are worth about $145 billion, well over 99% of my net worth." Reflecting on his success, Buffett added that "nothing extraordinary" had happened at Berkshire, instead pointing to "a very long runway, simple and generally sound decisions, the American tailwind and compounding effects."
