Latest news with #JohnGorman
Global News
a day ago
- Business
- Global News
U.S. and Canada strengthen ties in push for nuclear energy leadership
North American leaders and energy executives are deepening cross-border collaboration in a renewed push for nuclear power, positioning the U.S. and Canada as strategic partners in global energy security. At the Midwestern Legislative Conference in Saskatoon, participants from both countries emphasized the importance of nuclear energy as a clean and reliable solution to growing power demands, particularly amid increasing geopolitical competition. 'Let's go through this incredible collaboration, coordination for economic benefit and security benefit here between Canada and the U.S., and we'll be able to dominate globally,' said John Gorman, president of Westinghouse Canada. Gorman noted that while the U.S. remains the current leader in operating nuclear reactors, that position could be challenged by the pace of development in countries like China. Canada's uranium reserves, particularly in Saskatchewan, were highlighted as key assets in the nuclear supply chain. Story continues below advertisement 'The number of reactors that are going to be needed not only here in North America but around the world… All of that manufacturing, those supply chains, the ongoing servicing, the fuel, all comes from North America,' said Saskatchewan Premier Scott Moe. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Executives also addressed efforts to reduce reliance on foreign sources of enriched uranium. 'We've got uranium from here, we've got conversion in Ontario… We're working on enrichment in Wilmington, North Carolina,' said Tim Gitzel, CEO of Cameco. 'The U.S. needs enrichment. Why? Because we gave it all away to the Russians and the Chinese over the last 25 years. They're handing us our lunch at the moment. We've got to get it back.' Despite growing interest, concerns about high costs and long construction timelines remain. Minnesota State Senator Ann Johnson Stewart raised questions about affordability after a U.S. nuclear project far exceeded its original budget. 'I do agree, we need to look more towards nuclear energy. However, the last nuclear plant that was built in the U.S. was originally estimated at $14 billion, ended up costing $35 billion, and had a seven-year time overrun,' Stewart said. Leaders acknowledged that regulatory reform will be key to speeding up deployment without compromising safety or public trust. 'We're 14 years away right now… to build nuclear reactors greenfield,' Moe said. Story continues below advertisement Despite the challenges, officials at the summit pointed to the broader strategic importance of energy independence. 'You ensure that your energy is secure and you're not dependent on unallied nations or unfriendly nations… And herein lies the greatest opportunity that we have as Canadians and Americans to really determine our own future,' said Moe.
Asahi Shimbun
6 days ago
- Business
- Asahi Shimbun
Alphabet and AI stocks nudge Wall Street to more records
Trader John Gorman works on the floor of the New York Stock Exchange, July 21, 2025. (AP Photo) NEW YORK--Wall Street inched to more records on Thursday as gains for Alphabet and artificial-intelligence stocks helped make up for Tesla 's steep tumble. The S&P 500 added 0.1% to its all-time high set the day before. The Dow Jones Industrial Average fell 316 points, or 0.7%, while the Nasdaq composite rose 0.2% to its own record. Alphabet climbed 1% after the company behind Google and YouTube delivered a fatter profit for the latest quarter than analysts expected. It's leaning more into artificial-intelligence technology and said it's increasing its budget to spend on AI chips and other investments this year by $10 billion to $85 billion. That helped push up other stocks in the AI industry, including a 1.7% rise for Nvidia. The chip company was the strongest single force lifting the S&P 500 because it's the largest on Wall Street in terms of value. But an 8.2% drop for Tesla kept the market in check. Elon Musk's electric-vehicle company reported results for the spring that were roughly in line with or above analysts' expectations, and Musk is trying to highlight Tesla's moves into AI and robotaxis. The focus, though, remains on how Musk's foray into politics is turning off potential customers, and he said several rough quarters may be ahead as 'we're in this weird transition period where we'll lose a lot of incentives in the U.S.' Stocks have broadly been rallying for weeks on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. The record-setting gains have been so strong that criticism is rising about how expensive stock prices have become. That in turn puts pressure on companies to deliver solid growth in profits in order to justify their gains. Chipotle Mexican Grill also helped weigh on the market despite delivering a profit for the spring that topped analysts' expectations. The restaurant chain's growth in revenue came up short of expectations, and its stock fell 13.3%. IBM dropped 7.6% even though it likewise reported a stronger profit than expected. Analysts pointed to slowing growth in its software business, among other things underneath the surface. American Airlines lost 9.6% despite reporting a stronger profit than expected. The company said it expects to report a loss for the summer quarter. It also gave a forecast for full-year results that had a wide range: between a loss of 20 cents per share and a profit of 80 cents per share, depending on how the economy performs. Reactions in the stock market have generally been stronger than usual when companies beat or miss their profit targets by a wide margin, according to Julian Emanuel at Evercore. Other extreme moves have also been roaring underneath the market's surface, including huge swings for 'meme stocks.' Those are stocks where traders are looking to jump in amid online cheerleading and ride it higher, before a halt in momentum leaves some investors holding the bag. Opendoor Technologies rose 5.7% following a manic stretch where it swung by at least 10%, up or down, in 10 straight days. Such swings, though, haven't been showing up in overall market indexes, which have been gliding recently. The S&P 500 hasn't had a day where it moved by at least 1% in a month. All told, the S&P 500 rose 4.44 points to 6,363.35. The Dow Jones Industrial Average fell 316.38 to 44,693.91, and the Nasdaq composite rose 37.94 to 21,057.96. In the bond market, Treasury yields held relatively steady following the latest signals that the U.S. economy seems to be holding up OK despite pressures from tariffs and elsewhere. One report said that fewer U.S. workers applied for unemployment benefits last week, a potential signal of easing layoffs. A separate report from S&P Global suggested growth in U.S. business activity accelerated in July, and the preliminary results easily topped economists' expectations. That helped solidify expectations on Wall Street that the Federal Reserve will hold interest rates steady at its next meeting next week, even though Trump has been agitating angrily for cuts. The European Central Bank, which had earlier been cutting its rates, also held steady on Thursday as it waits to see how Trump's tariffs affect the economy. The yield on the 10-year U.S. Treasury note briefly approached 4.44% in the morning before pulling back to 4.40%, where it was late Wednesday. In stock markets abroad, indexes rose across much of Asia and Europe. Tokyo's jump of 1.6% and London's rise of 0.8% were two of the bigger gains.
CTV News
6 days ago
- Business
- CTV News
Alphabet and AI stocks nudge Wall Street to more records
Trader John Gorman works on the floor of the New York Stock Exchange, Monday, July 21, 2025. (AP Photo/Richard Drew) NEW YORK — Wall Street inched to more records on Thursday as gains for Alphabet and artificial-intelligence stocks helped make up for Tesla 's steep tumble. The S&P 500 added 0.1 per cent to its all-time high set the day before. The Dow Jones Industrial Average fell 316 points, or 0.7 per cent, while the Nasdaq composite rose 0.2 per cent to its own record. Alphabet climbed one per cent after the company behind Google and YouTube delivered a fatter profit for the latest quarter than analysts expected. It's leaning more into artificial-intelligence technology and said it's increasing its budget to spend on AI chips and other investments this year by US$10 billion to $85 billion. That helped push up other stocks in the AI industry, including a 1.7 per cent rise for Nvidia. The chip company was the strongest single force lifting the S&P 500 because it's the largest on Wall Street in terms of value. But an 8.2 per cent drop for Tesla kept the market in check. Elon Musk's electric-vehicle company reported results for the spring that were roughly in line with or above analysts' expectations, and Musk is trying to highlight Tesla's moves into AI and robotaxis. The focus, though, remains on how Musk's foray into politics is turning off potential customers, and he said several rough quarters may be ahead as 'we're in this weird transition period where we'll lose a lot of incentives in the U.S.' Stocks have broadly been rallying for weeks on hopes that U.S. President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. The record-setting gains have been so strong that criticism is rising about how expensive stock prices have become. That in turn puts pressure on companies to deliver solid growth in profits in order to justify their gains. Chipotle Mexican Grill also helped weigh on the market despite delivering a profit for the spring that topped analysts' expectations. The restaurant chain's growth in revenue came up short of expectations, and its stock fell 13.3 per cent. IBM dropped 7.6 per cent even though it likewise reported a stronger profit than expected. Analysts pointed to slowing growth in its software business, among other things underneath the surface. American Airlines lost 9.6 per cent despite reporting a stronger profit than expected. The company said it expects to report a loss for the summer quarter. It also gave a forecast for full-year results that had a wide range: between a loss of 20 cents per share and a profit of 80 cents per share, depending on how the economy performs. Reactions in the stock market have generally been stronger than usual when companies beat or miss their profit targets by a wide margin, according to Julian Emanuel at Evercore. Other extreme moves have also been roaring underneath the market's surface, including huge swings for 'meme stocks.' Those are stocks where traders are looking to jump in amid online cheerleading and ride it higher, before a halt in momentum leaves some investors holding the bag. Opendoor Technologies rose 5.7 per cent following a manic stretch where it swung by at least 10 per cent, up or down, in 10 straight days. Such swings, though, haven't been showing up in overall market indexes, which have been gliding recently. The S&P 500 hasn't had a day where it moved by at least 1% in a month. All told, the S&P 500 rose 4.44 points to 6,363.35. The Dow Jones Industrial Average fell 316.38 to 44,693.91, and the Nasdaq composite rose 37.94 to 21,057.96. In the bond market, U.S. Treasury yields held relatively steady following the latest signals that the U.S. economy seems to be holding up OK despite pressures from tariffs and elsewhere. One report said that fewer U.S. workers applied for unemployment benefits last week, a potential signal of easing layoffs. A separate report from S&P Global suggested growth in U.S. business activity accelerated in July, and the preliminary results easily topped economists' expectations. That helped solidify expectations on Wall Street that the U.S. Federal Reserve will hold interest rates steady at its next meeting next week, even though Trump has been agitating angrily for cuts. The European Central Bank, which had earlier been cutting its rates, also held steady on Thursday as it waits to see how Trump's tariffs affect the economy. The yield on the 10-year U.S. Treasury note briefly approached 4.44 per cent in the morning before pulling back to 4.40 per cent, where it was late Wednesday. In stock markets abroad, indexes rose across much of Asia and Europe. Tokyo's jump of 1.6 per cent and London's rise of 0.8 per cent were two of the bigger gains. ___ AP writer Teresa Cerojano contributed. By Stan Choe
Business Wire
08-07-2025
- Business
- Business Wire
Westinghouse and Eclipse Automation Sign Agreement for Nuclear New-Build Projects
PETERBOROUGH, Ontario--(BUSINESS WIRE)--Westinghouse Electric Company and Eclipse Automation, part of Accenture, have signed a memorandum of understanding (MoU) to support nuclear new-build projects in Canada and globally. Under the agreement, Eclipse Automation has the potential to provide automation solutions for key AP1000 ® and AP300™ projects. The companies will also collaborate to develop tooling for the refurbishment of operating nuclear plants. "This milestone marks another step toward a future powered by clean and reliable energy, as nuclear innovation continues to develop a number of safe and sustainable energy solutions,' said Steve Mai, CEO, Eclipse Automation, Managing Director, Accenture Industry X. 'For skilled professionals, increasing investment in nuclear energy opens the door to meaningful, long-term careers. At Eclipse Automation, our legacy of excellence across the nuclear lifecycle — including contributions to some of the industry's most prominent projects — reflects our commitment to this future. By harnessing deep expertise in engineering, manufacturing, and digital innovation, we are excited to deliver cutting-edge automation solutions that will power the next generation of nuclear reactors that are needed in Canada and across the globe." 'As Westinghouse works to deliver AP1000 and AP300 projects around the world, the advanced automation solutions provided by Eclipse Automation can help us streamline manufacturing and make operations more efficient and safer,' said John Gorman, President of Westinghouse Canada. 'In addition to delivering clean energy, these projects also will benefit the Canadian economy by providing local jobs and boosting economic growth.' The announcement is the latest in a series of agreements with Canadian firms to support Westinghouse's AP1000 and AP300 projects globally. For each AP1000 unit that is built outside of Canada, Westinghouse could generate almost $1 billion of Canadian dollars in gross domestic product (GDP) through local suppliers. Owned by Canadian energy powerhouses Brookfield and Cameco, Westinghouse is the only nuclear vendor with an advanced, proven and fully operational Generation III+ reactor technology that is ready to be deployed in Canada and generate electricity by as early as 2035. A four-unit AP1000 facility in Canada can power at least three million homes while supporting $28.7 billion Canadian dollars in GDP during construction and $8.1 billion in GDP annually in ongoing operations. The four-unit project would also create 12,000 high-quality full-time Canadian jobs and provide Canadian firms opportunities to support the more than 30 AP1000 units in the pipeline globally. ### Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit and follow us on Facebook, LinkedIn and X. Eclipse Automation, part of Accenture, provides innovative automation solutions that reinvent manufacturing. Our decades of experience, use of physical and digital tenets to connect the top floor to the shop floor. Eclipse's nuclear team consists of highly trained experts who specialize in automating and optimizing nuclear operations. With deep experience across the entire nuclear lifecycle - from new builds, to operations, life extensions, late life management, waste management, decommissioning and remediation – our team understands the intrinsic elements, including tooling and processes. Eclipse is vertically integrated, with in-house capabilities to design, manufacture, assemble and test custom equipment and tooling.
Sydney Morning Herald
16-05-2025
- Sydney Morning Herald
Shoddy work: Warning over tailor-made clothes in Vietnam
We have just returned from a 10-day touring holiday to our amazing country towns in southern NSW and northern Victoria. Young was beautiful, with its Chinese Memorial Garden and rich gold-rush history. Leeton is a thriving irrigation town boasting stunning art deco buildings. Bustling Echuca on the Murray River offers paddle steamers to take tourists to wineries for lunch or longer overnight journeys. The silo art trail is a one-day circuit drive from Echuca with spectacular murals featuring our native plants, wildlife and local history. This road trip has inspired us with positive experiences of our great country towns. We were impressed with the high standard of secondary roads connecting towns in both NSW and Victoria. Barbara and John Gorman, Westleigh, NSW Powered down Ben Groundwater's article (Traveller, April 30) about what he can't travel without was very practical but it requires one amendment for cruise ship passengers. On my last Princess Cruise, I packed a power board in my luggage and my suitcase did not arrive in my cabin. I was advised to go to the security area where I was asked to remove the power board from my case. The cruise line considers power boards a potential fire hazard and the confiscated item was returned to me when I left the ship. David Linfoot, Castle Hill, NSW Your views on views Thanks to our readers who responded to our story about the 35 greatest views in the world, as named by the experts. The best letters are featured below. Each published reader published receives a copy of Lonely Planet's Wonders of the World coffee table book valued at $44.99. See Wail watching On a small-ship cruise out of Ushuaia, Argentina, we stopped at dusk, took Zodiacs to Isla Navarino and climbed up, through rough bush, to about 300 metres above the icy water. We sat down, looking east down the channel at our ship and the snow-capped islands in the distance. No one spoke for five minutes. I cried. The view and the silence made me cry, as the memory does now. Ian Johnson, Docklands, Vic Howe amazing Lord Howe Island rewarded me with my greatest view yet – I was mesmerised by Mount Gower's peak in this idyllic paradise. It towers over the island from every vantage point, but for me it was most spectacular from Lagoon Beach. Whether on a sunny day as the backdrop for the magnificent blue lagoon, or teasingly peaking through cloud, this spellbinding view remains my most treasured. Roxanne Le Blanc, Croydon, Vic Roar power First a rumble, then an all-encompassing roar hits you like a jet engine. Bordering Brazil and Argentina the stunning sight and sound of the Iguazu Falls is breathtaking, as 275 waterfalls, the largest waterfall system in the world, crash and spray. From the expansive view on the Brazilian side to the daredevil walkway stretching part of the way across Devil's Throat on the Argentinian side, the vista is extraordinary and never to be forgotten. Sally Spurr, Lane Cove, NSW Solid rock The monasteries of Meteora are built on top of these massive rock pillars that rise straight out of the ground. It almost doesn't look real. From up there, the view is something else. When I visited, I remember standing still for what felt like hours. But it wasn't just the view that struck me. It was the feeling of being suspended between heaven and earth. It inspired me to slow down, reflect and reconnect with nature and history. Meteora truly deserves a spot among the world's most inspiring sights. Emanuel Marinos, Kogarah, NSW Bath times My favourite view from my travels is this one of Avon Canal in Bath, UK. It was a surprising discovery as I wasn't aware there was a canal in Bath. I love the way it is darker at the edges but your eye is drawn to the light and the reflections in the centre of the photo. A memorable day with my husband and son. Susan Rowe, Epping, NSW Snow show Our journey to the Gateway of the Arctic Circle, Tromso, Norway, started with the plane diverting to a military base to refuel due to heavy snowfall, adding a thrilling twist to our arrival in this enchanting city. When we sipped coffee in a cosy cafe the next day, we were mesmerised by the single best view of our travels. Tromso's harbour sparkled like a frozen canvas, snow-covered mountains rising majestically in the distance, ferries gliding smoothly by. The Arctic scenery held us in its thrall and is forever in our hearts. Rhoda Silber, Manly, NSW On top Down Under My single best view is the King Valley from Powers Lookout in North East Victoria region. For as far as the eye can see there's beauty, stretching beyond the valley of farms and vineyards to the mountains of the Alpine National Park. It's so peaceful. As Bill Bryson wrote in his book Down Under, 'if you put this in Virginia or Vermont, there would be scores of people… there'd be souvenir stands and probably an IMAx screen and adventure park'. It really is one of Victoria's best-kept secrets. Peter Denovan, Kew East, Vic Rhodes warrior I stayed in Lindos on the island of Rhodes in September 2018 and walked up the many steps of the Temple of Athena at both dawn and dusk to experience the beauty and vibration of this amazing place. Seven kilometres away, the coast of Turkey can be seen. I am just about to head back now and will be greeting Athena again. Christine Tiley, Albany Creek, Qld Take a peak After a magical scenic train trip we arrived at Kleine Scheidegg in Switzerland. We sat on the terrace of a restaurant and gazed up at an incredibly breathtaking view. We were looking at the famous challenging North Face of the Eiger mountain. Next to it were the majestic peaks of Monch and Jungfrau. The scale of these inspired feelings of awe and a profound connection to history and to nature. Mim Kocher, Healesville, Vic Sounds incredible We rose just after dawn to discover the magnificence of New Zealand's Milford Sound from our balcony on the Silversea Muse in December 2019. The captain had warned the day before that bad weather might divert us overnight to calmer waters, as had been the case with two previous cruises. but Milford Sound was a millpond. This view is emblazoned in my memory and surely in the memories of my fellow travellers. Lina Caneva, South Yarra, Vic Just loafing There are so many great and beautiful views around the world but one that captivated me was that from Sugarloaf Mountain in Rio, Brazil. There was a clear view of the entire Copacabana Beach and onwards from Ipanema, to Corcovado in the distance (with the famous Christ the Redeemer statue). It's a bird's-eye view of the main part of Rio, showcasing the mountains rolling down to the sea with the beautiful blue waters of the Atlantic washing around and behind you. Fabulous. Martyn Jones, Adelaide, SA
