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Canadian govt orders Chinese firm Hikvision to cease operations over national security concerns
Ottawa [Canada], June 28 (ANI): The Canadian government has ordered Chinese video surveillance equipment maker Hikvision to cease all operations in the country and close its Canadian business over national security concerns, Canada's Minister of Innovation, Science and Industry, Melanie Joly, announced on Friday (local time). Melanie Joly noted that the government has determined that Hikvision Canada Inc.'s continued operations in Canada would be detrimental to Canada's national security. In a statement, Joly stated, 'Following a National Security Review under the Investment Canada Act, the Government of Canada has ordered Hikvision Canada Inc. to cease all operations in Canada and close its Canadian business.' 'The government has determined that Hikvision Canada Inc.'s continued operations in Canada would be injurious to Canada's national security. This determination is the result of a multi-step review that assessed information and evidence provided by Canada's security and intelligence community,' she added. Joly stated, 'The scope of this National Security Review under the Investment Canada Act does not extend to Hikvision's affiliate operations outside of Canada.' Melanie Joly encouraged all Canadians to take note of this decision and make their own decisions accordingly. Furthermore, the Canadian government has banned the purchase or use of Hikvision products in government departments, agencies, and crown corporations.
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7 hours ago
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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.
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7 hours ago
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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)
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7 hours ago
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U.S. stock markets jump despite Trump tussle with Canada
NEW YORK, New York - U.S. President Donald Trump dropped a bombshell on Friday announcing he had terminated trade talks with Canada. Such is the strength of the U.S. stock market though, that after an early dip, buyers again took the upper hand, sending the Standard and Poor's 500 to a new record. "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% 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," the U.S. president posted on his own social media platform Truth Social on Friday. "They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also. 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," Mr Trump said. Despite the ruckus with Canada, there were some stand-outs on Friday. Nvidia rose for the fifth day in a row, taking it to a record high. The stock after hitting a one-year low in April, has since surged 66 percent and is now capitalized at $3.85 trillion, ahead of Apple and Microsoft. The stock rose $2.66 or 1.72 percent on Friday, to close at $157.75, its highest closing level ever. Wall Street Extends Gains The Standard and Poor's 500 (^GSPC) rose 32.08 points (up 0.52 percent) to close at 6,173.10, marking another record high, as investors remained optimistic about corporate earnings and economic growth. The Dow Jones Industrial Average (^DJI) outperformed with a strong gain of 432.43 points (up 1.00 percent), finishing at 43,819.27—its best close since early June. Tech stocks also advanced, with the Nasdaq Composite (^IXIC) climbing 105.54 points (up 0.52 percent) to 20,273.46, supported by gains in semiconductor and AI-related shares. Market Outlook Analysts attributed Wall Street's strength to renewed confidence in the Federal Reserve's potential rate cuts later this year, while weaker oil prices and the breakdown in trade talks pressured Canadian equities. Trading volumes were robust, with the S&P 500 seeing 4.147 billion shares exchanged. Friday's foreign exchange session saw theU.S. dollar (USD)gaining against some major currencies while weakening against others, as traders assessed economic data and central bank outlooks. The EUR/USD pair on Friday edged up slightly to 1.1704, rising 0.04 percent as the euro held steady amid mixed European economic signals. Meanwhile, the USD/JPY climbed 0.25 percent to 144.71, as the yen remained under pressure amid expectations of continued loose monetary policy from the Bank of Japan. The USD/CAD saw a notable jump Friday, gaining 0.54 percent to 1.3712, as the United States terminated trade talks with Canada. Pound and Aussie Dollar Decline Against Greenback The GBP/USD fell 0.16 percent to 1.3703, as the British pound softened following cautious remarks from Bank of England policymakers. The AUD/USD dropped 0.37 percent to 0.6520, reflecting broader risk-off sentiment in commodity-linked currencies. The NZD/USD dipped slightly by 0.05 percent to 0.6049, while the USD/CHF saw a marginal decline of 0.01 percent to 0.7995, as the Swiss franc held firm amid global market uncertainty. Market Outlook Traders are now looking ahead to next week's key economic data, including inflation figures and central bank speeches, which could influence currency movements. The dollar's mixed performance suggests markets remain cautious. Global markets wrap up Friday, European and UK bourses finish with solid gains Friday's trading session saw a mixed performance across global indices. Overall, European markets outperformed, while Asian indices showed a split between gains and losses as investors weighed economic data and central bank policies. The S&P/TSX Composite (^GSPTSE) declined 59.63 points (down 0.22 percent) to 26,692.32, weighed down by losses in energy and materials sectors as news of the ending of trade tades with the United States broke. UK and European Indices Rally The FTSE 100 (^FTSE) in London closed at 8,798.91, rising 63.31 points (up 0.72 percent). In Germany' theDAX (^GDAXI) surged 383.92 points (up 1.62 percent) to 24,033.22, while France's CAC 40 (^FCHI) climbed 134.24 points (up 1.78 percent) to 7,691.55. The broader EURO STOXX 50 (^STOXX50E) also advanced Friday, gaining 81.61 points (up 1.56 percent) to 5,325.64. Belgium's BEL 20 (^BFX) added 38.13 points (up 0.85 percent) to 4,509.03, and the Euronext 100 (^N100) rose 19.45 points (up 1.25 percent) to 1,575.55. Split Results in Asia and Pacific In Asia on Friday, Hong Kong's Hang Seng (^HSI) dipped 41.25 points (down 0.17 percent) to 24,284.15, while Australia's S&P/ASX 200 (^AXJO) fell 36.60 points (down 0.43 percent) to 8,514.20. The Australian All Ordinaries (^AORD) slipped 30.00 points (down 0.34 percent) to 8,743.60. However, India's S&P BSE SENSEX (^BSESN) gained 303.03 points (up 0.36 percent) on Friday to 84,058.90, while in Indonesia, the IDX Composite (^JKSE) rose 65.26 points (up 0.96 percent) to 6,897.40. Malaysia's KLSE (^KLSE) edged up 8.37 points (up 0.55 percent) to 1,528.16, and New Zealand's NZX 50 (^NZ50) jumped 103.54 points (up 0.83 percent) to 12,583.59. South Korea's KOSPI (^KS11) declined 23.62 points (down 0.77 percent) to 3,055.94, while Taiwan's TWII (^TWII) added 87.74 points (up 0.39 percent) to 22,580.08. Japan and China Show Divergence Japan's Nikkei 225 (^N225) continued its strong run on Friday, climbing 566.21 points (up 1.43 percent) to 40,150.79, marking another milestone. However, China's Shanghai Composite ( fell 24.23 points (down 0.70 percent) to 3,424.23. African equities slide South Africa's JSE Top 40 (^ dipped 26.92 points (down 0.50 percent) to 5,319.61, while Singapore's STI (^STI) rose 27.74 points (up 0.70 percent) to 3,966.20. Middle East Markets Closed
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7 hours ago
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U.S.-WASHINGTON, D.C.-TRUMP-CANADA-TRADE TALK
(250627) -- WASHINGTON, June 27, 2025 (Xinhua) -- U.S. President Donald Trump speaks to the press at the White House in Washington, D.C., the United States, on June 27, 2025. 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. (Xinhua/Hu Yousong)
