Quilliq Energy Corporation say staff shortages contributed to winter power outages
The corporation says it's working to fix the problem, but as TJ Dhir tells us, it's not that simple.
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CBC
21 minutes ago
- CBC
Canadian ambassador says there's a 'good path forward' to a trade deal with the U.S.
Social Sharing Canada's ambassador to the United States, Kirsten Hillman said she "firmly" believes that both countries could reach a trade deal within the 30-day deadline discussed at the G7 summit in Alberta last week. "We can't do anything to force the U.S. side to come to a deal, but we do think we have a good path forward if we're able to take it," she said during an interview on Rosemary Barton Live that aired on Sunday. Hillman said it's "too soon to tell" whether all U.S. tariffs imposed on Canada will be removed, and she stopped short of saying whether the federal government is willing to accept the continuation of some tariffs. "These are things that will work themselves out in the next number of weeks," she said. Canada is fighting for "open trade and stability" for Canadian workers and businesses, Hillman said during the interview. WATCH | Canadian ambassador to U.S. discusses ongoing trade talks: Canadian ambassador to U.S. 'firmly' believes in path to trade deal 4 hours ago Duration 9:16 Chief political correspondent Rosemary Barton speaks with Canadian Ambassador to the United States Kirsten Hillman about the ongoing negotiations between Ottawa and Washington. Hillman gets expanded role in Washington Prime Minister Mark Carney appointed Hillman as Canada's chief negotiator with the U.S. amid heightened trade tensions, CBC News has learned. This role comes in addition to her duties as Canada's ambassador to the U.S. Hillman previously worked on the team negotiating the Canada-United States-Mexico Agreement during U.S. President Donald Trump's first term and as Canada's chief negotiator for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Her expanded duties now position her in bilateral talks as U.S. Trade Representative Jamieson Greer's counterpart. Trade and defence talks continuing Since Carney and Trump set the 30-day deadline while meeting at the G7 in Kananaskis, Alta., on June 16, Hillman has had three meetings with her U.S. counterparts — one immediately following the leaders' bilateral, the second on the following day with Greer and another on Friday that included Intergovernmental Affairs Minister Dominic LeBlanc, who is also the minister responsible for Canada-U.S. trade. More talks are planned throughout this week. The conversations with the U.S. are focused on different topics, including fentanyl, border security and Arctic defence, although the leaders are focused on tariffs. Hillman said it's still unclear whether defence and trade will be part of one deal coming within the next 30 days. Trump has said "many times" that he likes tariffs, Hillman said. "It's up to Canada to demonstrate we can achieve the same goals with the United States through other means that don't necessarily involve these punishing tariffs, especially on strategic goods." WATCH | PM may raise counter-tariffs on U.S. steel, aluminum if deal delayed: Canada to limit steel imports, may hike U.S. counter-tariffs next month 3 days ago Duration 2:20 Prime Minister Mark Carney has announced limits to foreign steel imports in a bid to prop up Canada's steel industry, which has been hit hard by the U.S. trade war. Canada may hike counter-tariffs on U.S. steel and aluminum if a deal isn't reached by July 21. Steel tariffs still at 50% Just days after Canada and the U.S. set a 30-day deadline, Carney signalled he's willing to go higher with Canada's retaliatory tariffs if no agreement is reached. Canada's counter-tariffs on steel will go up or down, depending on trade progress by July 21, in response to U.S. metal tariffs that are now at 50 per cent. Industry Minister Mélanie Joly told CBC Power & Politics host David Cochrane that Canada is taking "measures like [it's] never done" in the free-trade era to protect the steel and aluminum sectors.
CTV News
36 minutes ago
- CTV News
Oil rises and U.S. stock futures slide as markets react to U.S. strike on Iran nuclear sites
The facade of the New York Stock Exchange is seen, Wednesday, June 18, 2025, in New York. (AP Photo/Yuki Iwamura) NEW YORK — The price of oil rose and U.S. stock futures fell as global markets react to the U.S. strike against nuclear targets in Iran. The price of Brent crude oil, the international standard, rose 3.9% to US$80 a barrel. U.S. crude rose 4.3% to $77 a barrel. Futures for the S&P 500 fell 0.6%. Treasury yields fell slightly. On Saturday, U.S. forces attacked three Iranian nuclear and military sites, further increasing the stakes in the war between Israel and Iran. The conflict has sent oil prices yo-yoing over the last week, which has in turn caused see-saw moves for the U.S. stock market, because of rising and ebbing fears that the war could disrupt the global flow of crude. Iran is a major producer of oil and also sits on the narrow Strait of Hormuz, through which much of the world's crude passes.
Globe and Mail
37 minutes ago
- Globe and Mail
Stablecoin Disruption: Time to Sell Your Visa Stock?
This week, stablecoin legislation was approved by the United States Senate. The bill -- called the GENIUS Act -- still needs to go through the other side of Congress and on to the President's desk, but it is one step closer to bringing stablecoins into the financial system. By regulating the new currencies pegged to the U.S. dollar, issuers of the coin will now need to keep ample reserves to pay back customers and also go through regular audits. Investors are betting that legislation will spur customer adoption, which is a threat to Visa (NYSE: V). If stablecoins are adopted wholesale by consumers, it could mean less payment volume through Visa's network. Less volume means less profit. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Does that mean it is time to sell your Visa stock? Not really. Here's why stablecoins are not a large threat to Visa's business model today. New avenues for merchant acceptance This legislation is inspiring companies to investigate making their own stablecoins. According to reports, both Walmart and Amazon -- the two largest retailers in the United States -- are exploring making stablecoins for shoppers. Retailers are incentivized to do this because of the high fees paid to the credit card networks every year, which range from 2% to 3% of every transaction. Visa only collects 0.1% or a little more of every dollar spent, while most goes to the banking partners that issue credit cards and give consumers cash-back rewards. By adopting stablecoins, merchants see an avenue to avoiding the credit card fees that are a huge expense on their operations. Wal-Mart and Amazon alone could save billions of dollars a year that are now going to the financial system. It only needs to see mass adoption of stablecoins for this to happen. Easier said than done, but there are a lot of profits on the line for trying. The big hurdle: replicating the card rewards and scale Defeating Visa and credit card fees is not going to be easy. If it were, the companies would simply stop accepting Visa altogether. But they cannot, because of Visa's immense scale in merchant acceptance and consumer usage that is difficult to replicate. Visa has operations in 200 countries and territories, accepted by 150 million merchants and growing. It also has 4.8 billion total debit and credit cards in circulation. Over $15 trillion in total payments volume is processed by Visa every year. For stablecoins to succeed, they will need to replicate not one but both sides of this network. Shoppers will not use stablecoins for everyday use unless they are accepted everywhere. Merchants will not care about accepting stablecoins if nobody uses them. Call me skeptical that they will reach Visa's scale anytime soon. This is a classic example of a network effect competitive advantage, which reinforces Visa's growing dominance in the industry. Plus, we shouldn't forget about the thing consumers love about credit cards: cash back and reward points. Credit cards are able to offer so many perks to customers because of the 2% to 3% fees charged to merchants. Without them, it is a much worse customer value proposition, another hurdle for stablecoin adoption. V PE Ratio data by YCharts Should you sell your Visa stock? No, you should not sell your Visa stock just because iy is dipping on stablecoin news. It is clear that this company has a strong competitive advantage and massive scale that stablecoin issuers are nowhere close to matching. The legislation has not even been approved yet, so there is no reason to panic. That does not mean the stock is necessarily a buy at these prices. Its earnings per share (EPS) grew 10% year over year last quarter, which is right around Visa's long-term growth. As such a large business already, it is not going to produce hypergrowth in the form of earnings, but steady durable growth over time. Today, the stock trades at a premium price-to-earnings ratio (P/E) of 34 even after this stock dip, making the stock expensive. Don't rush out and sell your Visa stock. But don't think the stock is a home run buy just because it slipped 10%, either. Should you invest $1,000 in Visa right now? Before you buy stock in Visa, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Visa wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor 's total average return is994% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Brett Schafer has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Visa, and Walmart. The Motley Fool has a disclosure policy.
