Latest news with #Canadian
Time of India
32 minutes ago
- Sport
- Time of India
Matthew Schaefer goes to New York Islanders as first overall pick in NHL draft
Live Events — NHL (@NHL) — NHL (@NHL) (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The New York Islanders made Canadian defenseman Matthew Schaefer the first overall pick in the NHL Draft on Friday night, selecting the 17-year-old standout from the Erie Otters and signaling high expectations for a player widely projected as a future Schaefer, the San Jose Sharks used the No. 2 pick on high-scoring forward Michael Misa , an 18-year-old who lit up the OHL last season with Chicago Blackhawks picked third, selecting Swedish center Anton Frondell , who tallied 11 goals and 14 assists in 29 games for Djurgardens Utah Mammoth , after leaping 10 spots in the draft lottery, chose center Caleb Desnoyers fourth overall. Rounding out the top five, the Nashville Predators picked up rugged forward Brady Martin Schaefer, who spent the past two seasons in the OHL, endured a challenging 2024–25 campaign that began with glandular fever and was later derailed by a broken collarbone suffered during the World Junior Championships. Despite the injuries, Schaefer posted an impressive seven goals and 15 assists in just 17 games, demonstrating the skill and poise that kept him atop draft February 2024, his mother, Jennifer, passed away from cancer. He pushed through that personal tragedy to deliver a strong rookie season, drawing admiration for his resilience as well as his emotions were felt on draft night at the Peacock Theater in Los Angeles. After his name was called, Schaefer fought back tears and honored his late mother."You wait for this moment your whole life," said Schaefer, who turns 18 in September. "I wish my mom could be here, but I know she's with me in spirit."
Time of India
33 minutes ago
- Business
- Time of India
Trump says he's ending trade talks with Canada over its 'egregious' tax on technology firms
President Donald Trump said Friday that he's suspending trade talks with Canada over its plans to continue with its tax on technology firms, which he called "a direct and blatant attack on our country." Trump, in a post on his social media network, said Canada had just informed the U.S. that it was sticking to its plan to impose the digital services tax, which applies to Canadian and foreign businesses that engage with online users in Canada. The tax is set to go into effect Monday. "Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period," Trump said in his post. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo Trump's announcement was the latest swerve in the trade war he's launched since taking office for a second term in January. Progress with Canada has been a roller coaster, starting with the U.S. president poking at the nation's northern neighbor and repeatedly suggesting it would be absorbed as a U.S. state. Canadian Prime Minister Mark Carney said Friday that his country would "continue to conduct these complex negotiations in the best interests of Canadians. It's a negotiation." Live Events Trump later said he expects that Canada will remove the tax. "Economically we have such power over Canada. We'd rather not use it," Trump said in the Oval Office. "It's not going to work out well for Canada. They were foolish to do it." When asked if Canada could do anything to restart talks, he suggested Canada could remove the tax, predicted it will but said, "It doesn't matter to me." Carney visited Trump in May at the White House, where he was polite but firm. Trump last week traveled to Canada for the G7 summit in Alberta, where Carney said that Canada and the U.S. had set a 30-day deadline for trade talks. The digital services tax will hit companies including Amazon, Google, Meta, Uber and Airbnb with a 3% levy on revenue from Canadian users. It will apply retroactively, leaving U.S. companies with a $2 billion U.S. bill due at the end of the month. "We appreciate the Administration's decisive response to Canada's discriminatory tax on U.S. digital exports," Matt Schruers, chief executive of the Computer & Communications Industry Association, said in a statement. Canada and the U.S. have been discussing easing a series of steep tariffs Trump imposed on goods from America's neighbor. The Republican president earlier told reporters that the U.S. was soon preparing to send letters to different countries, informing them of the new tariff rate his administration would impose on them. Trump has imposed 50% tariffs on steel and aluminum as well as 25% tariffs on autos. He is also charging a 10% tax on imports from most countries, though he could raise rates on July 9, after the 90-day negotiating period he set would expire. Canada and Mexico face separate tariffs of as much as 25% that Trump put into place under the auspices of stopping fentanyl smuggling, though some products are still protected under the 2020 U.S.-Mexico-Canada Agreement signed during Trump's first term. Addressing reporters after a private meeting with Republican senators Friday, Treasury Secretary Scott Bessent declined to comment on news that Trump had ended trade talks with Canada. "I was in the meeting," Bessent said before moving on to the next question. About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports as well. Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is eager to obtain. About 80% of Canada's exports go to the U.S. Daniel Beland, a political science professor at McGill University in Montreal, said it is a domestic tax issue, but it has been a source of tensions between Canada and the United States for a while because it targets U.S. tech giants. "The Digital Services Tax Act was signed into law a year ago so the advent of this new tax has been known for a long time," Beland said. "Yet, President Trump waited just before its implementation to create drama over it in the context of ongoing and highly uncertain trade negotiations between the two countries."
Canada News.Net
38 minutes ago
- Business
- Canada News.Net
Daily World Briefing, June 28
Trump continues pushing Fed chair to lower interest rates U.S. President Donald Trump has continued to lob personal insults and attacks at Federal Reserve Chair Jerome Powell in a bid to get the central bank to lower interest rates. Frustrated with the Fed's wait-and-see attitude toward lowering interest rates, Trump has ramped up attacks against Powell in recent weeks. Earlier this week during a NATO summit in the Netherlands, Trump hurled his latest oratory grenade at the Fed chief, who the president nominated for the position eight years ago. "I think he's terrible," Trump told reporters during a press conference, referring to Powell. The president called Powell a "very average mentally person," and said the Fed chief has "a low IQ for what he does." "I think he is a very stupid person, actually," Trump said. Canadian PM says negotiations with U.S. "complex" Canadian Prime Minister Mark Carney on Friday called the negotiations with the United States "complex" when he responded to the announcement of U.S. President Donald Trump to terminate all trade talks with Canada with potential new tariffs. "We'll continue to conduct these complex negotiations in the best interest of Canadians," Carney said to local media. "It's a negotiation." Trump announced Friday that the United States would terminate all trade talks with Canada due to Canada's digital services tax on U.S. tech companies. Canada's digital services tax on American technology companies is a direct and blatant attack on the United States, said Trump in a post on social media. Set to take effect on June 30, the digital services tax would have U.S. companies like Amazon, Google, Meta, Uber and Airbnb pay a three percent levy on revenue from Canadian users. Canada and the United States have been in negotiations to get Trump to lift the tariffs on Canadian goods, which have already led to major economic shrinking. U.S. Supreme Court limits injunctions against Trump's birthright citizenship order The U.S. Supreme Court ruled on Friday that district judges lack the authority to grant nationwide injunctions against the Trump administration's executive order to effectively end birthright citizenship. In a 6-3 vote along ideological line, Supreme Court justices granted a request by the Trump administration to narrow the scope of nationwide injunctions imposed by district judges. "Federal courts do not exercise general oversight of the Executive Branch," Justice Amy Coney Barrett wrote for the majority, noting that "When a court concludes that the executive branch has acted unlawfully, the answer is not for the court to exceed its power, too." However, the three liberal justices issued dissents to the decision. "Children born in the United States and subject to its laws are United States citizens," Justice Sonia Sotomayor said, adding "that has been the legal rule since the founding." Iran's FM says IAEA chief's insistence on visiting bombed nuclear sites "meaningless" Iranian Foreign Minister Seyed Abbas Araghchi said on Friday the insistence of the United Nations nuclear watchdog's chief on visiting Iran's bombed nuclear sites is "meaningless." He made the remarks in a post on social media platform X while accusing Director General of the International Atomic Energy Agency (IAEA) Rafael Grossi of facilitating the adoption of a resolution by the agency's Board of Governors against Tehran and the bombings of Iranian nuclear facilities by the United States and Israel. "Grossi's insistence on visiting the bombed sites under the pretext of safeguards is meaningless and possibly even malign in intent. Iran reserves the right to take any steps in defense of its interests, its people, and its sovereignty," he said. He pointed to a recent plan approved by the Iranian parliament, and later passed into law by the country's Constitutional Council, which called for a halt in Iran's collaboration with the IAEA, adding, "This is a direct result of Grossi's regrettable role in obfuscating the fact that the agency had -- a full decade ago -- already closed all past issues (with Iran)." Grossi on Friday highlighted the necessity for IAEA inspectors to continue their verification activities in Iran, "as required under the Comprehensive Safeguards Agreement," according to a statement published on the agency's website. Russia, Ukraine agree to hold 3rd round of talks after prisoner exchange: Putin Russia and Ukraine have agreed to hold the third round of negotiations after completing their war prisoner exchange, Russian President Vladimir Putin said Friday after the Supreme Eurasian Economic Council in Minsk. Russia and Ukraine agreed to hold the third-round of talks after the completion of the exchange of prisoners of war and the transfer of bodies of dead militants, negotiated in Istanbul on June 2, Putin told reporters. Russia is ready for new round of negotiations with Ukraine in Istanbul, the president said, noting that the time and place of the third-round talks need to be agreed on. The draft memoranda between Russia and Ukraine on the settlement should become the subject of discussion during the third round of negotiations, Putin said.
Canada News.Net
38 minutes ago
- Business
- Canada News.Net
US President Donald Trump terminates trade talks with Canada
Washington DC [US], June 28 (ANI): US President Donald Trump announced on Friday (US local time) that the United States will be terminating all discussions on trade with Canada, effective immediately. In a post on Truth Social, Trump called Canada a 'very difficult' country to trade with. He pointed out that the Digital Services Tax announced by the Canadian government is a blatant attack on America and its businesses. 'We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400 per cent Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country. They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us,' US President said. The Government of Canada has introduced the digital services tax (DST). The DST requires foreign and domestic large businesses to pay tax on certain revenue earned from engaging with online users in Canada if they meet certain conditions, as per a statement issued by the Canadian Revenue Agency. Trump further said that Canada will be informed about the tariffs they will have to pay to do business with the US within the next seven days. 'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven-day period. Thank you for your attention to this matter!' he wrote. According to CNN, DST allows countries to collect revenue from large companies that operate online, even if their business is unprofitable. Citing a report published by the nonpartisan Congressional Research Service, CNN noted that American firms, particularly big tech companies like Meta, Apple, Google, Amazon and Microsoft, are disproportionately affected by DSTs. CNN reported that the US President had taken up the issue of DSTs in the trade negotiations with other countries and had referred to them as 'non-tariff trade barriers.' It further reported that Canada has a new DST, which is set to come into effect from Monday and would be retroactive to 2022. As per the New York Times, Canada's 3 per cent digital services tax has been in place since last year, but the first payments are only due beginning on Monday. Since the tax is retroactive in nature, American companies were preparing to turn over roughly USD 2.7 billion to the Canadian government, the NYT noted, citing a trade group for large tech companies. (ANI)
Canada News.Net
38 minutes ago
- Canada News.Net
CBI busts transnational cyber extortion syndicate, key operative held
New Delhi [India], June 28 (ANI): In a continuing crackdown under Operation Chakra-V, the Central Bureau of Investigation (CBI) conducted coordinated search operations at multiple locations in Ahmedabad and Mumbai on June 25 in connection with a transnational cyber extortion case, the probe agency said on Friday. CBI said that the searches led to the recovery of incriminating evidence. The main suspect behind a transnational cyber extortion syndicate was arrested on June 26 in Mumbai. 'The case pertains to a sophisticated international fraud network involved in cheating foreign nationals, particularly citizens of the United States and Canada, by impersonating government officials, threatening them with false allegations, and subsequently extorting funds. The proceeds of crime were found to be received in form of crypto currencies,' press release said. 'During the operation, the accused was found in possession of a well-organized ecosystem used for committing cyber frauds, which included, telecommunication setup, Pre-drafted scam scripts, Forged identity badges, and ID cards purporting to be of Canadian law enforcement authorities,' it added. Further, Virtual Digital Assets worth approximately USD 45,000 were seized from the possession of the accused. He was also found to be leading a lavish lifestyle, as evidenced by the recovery of luxury vehicles, high-end accessories, frequent foreign visits and substantial unaccounted wealth, CBI stated. 'Notably, the United States Federal Communications Commission (FCC) had earlier identified the 'Royal Tiger Gang', operated by the accused as a significant Consumer Communication Information Services Threat (C-CIST). The gang is accused of generating and transmitting unlawful robocalls impersonating government agencies, banks, and utility service providers in a systematic manner, aimed at deceiving and defrauding USconsumers,' CBI mentioned. The accused has been produced before the CBI Court and taken into a 4-day remand for interrogation.
