Top Canadian Grocer Says Sales of US Products ‘Rapidly' Dropping
Canada's second-biggest supermarket company said a boycott of US goods is quickly taking hold in reaction to President Donald Trump's tariffs and his threats of 'economic force' to make the country the 51st US state.
'American products we are selling as a percentage of our total sales are rapidly dropping,' said Michael Medline, chief executive officer of Empire Co., which owns large chains including Sobeys and Safeway in Canada. 'We have heard loud and clear from our customers that they want Canadian products.'
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Los Angeles Times
13 minutes ago
- Los Angeles Times
Oil rises as U.S. stock futures, Asian shares slip after American strike on Iran
NEW YORK — The price of oil rose and U.S. stock futures fell as global markets reacted to the American bombing of nuclear targets in Iran. The price of Brent crude oil, the international standard, rose 2.6% to $79 a barrel. U.S. crude rose 2.6% to $75.76 a barrel. U.S. forces attacked three Iranian nuclear sites early Sunday, further increasing the stakes in the war between Israel and Iran. Futures for the S&P 500 and the Dow Jones industrial average slipped 0.4%, while Nasdaq futures fell 0.5%. Treasury yields were little changed. The modest moves indicate markets are taking the latest development in stride. That was evident in early trading in Asia. Tokyo's Nikkei 225 index fell 0.6%. Other major regional markets also logged moderate declines. The conflict, which began with an Israeli attack against Iran on June 13, has sent oil prices yo-yo-ing, which has in turn caused seesaw 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 sits on the narrow Strait of Hormuz, through which much of the world's crude passes. 'The situation remains highly fluid, and much hinges on whether Tehran opts for a restrained reaction or a more aggressive course of action,' Kristian Kerr, head of macro strategy at LPL Financial in Charlotte, N.C., said in a commentary. An Iran retaliation that includes closing off the waterway would be technically difficult to pull off, but traders are afraid Iran could severely disrupt transit through it, sending insurance rates soaring and making shippers nervous to move without U.S. Navy escorts. Some analysts think Iran is unlikely to close down the waterway because the country uses it to transport its own crude, mostly to China, and oil is a major revenue source for the government. 'It's a scorched-earth possibility, a Sherman-burning-Atlanta move,' said Tom Kloza, chief market analyst at Turner Mason & Co. 'It's not probable.' Kloza thinks oil futures will ease back down after initial fears blow over. Ed Yardeni, a longtime analyst, agreed, writing in a report that Tehran leaders would probably hold back. 'They aren't crazy,' he wrote in a note to investors Sunday. 'The price of oil should fall and stock markets around the world should climb higher.' Other experts aren't so sure. Andy Lipow, a Houston analyst who has covered oil markets for 45 years, said that countries are not always rational actors and that he wouldn't be surprised if Tehran lashed out for political or emotional reasons. 'If the Strait of Hormuz was completely shut down, oil prices would rise to $120 to $130 a barrel,' said Lipow, predicting that that would translate to about $4.50 a gallon at the pump in the U.S. and hurt consumers in other ways. 'It would mean higher prices for all those goods transported by truck, and it would be more difficult for the Fed to lower interest rates,' he said. In trading early Monday in Asia, Taiwan's Taiex fell 1.5% while the Kospi in South Korea lost 1%. Both Taiwan and South Korea rely heavily on oil imported through the Strait of Hormuz. Australia's S&P/ASX fell 0.7%, and the benchmark in New Zealand lost 0.5%.
New York Post
20 minutes ago
- New York Post
Miranda Devine: Trump's ‘spectacular' Iran strike could carve his place in history as most courageous leader since Ronald Reagan
What an impressive sight it was Sunday, when the futuristic B-2 stealth bombers sliced through the powder-blue Missouri sky on their triumphant return to home base in the American heartland after dropping their Massive Ordnance Penetrator bombs on Iran's underground nuclear sites. The strikes were 'a spectacular military success,' President Trump told the world Saturday night, after emerging from the Situation Room. 'Iran's key nuclear enrichment facilities have been completely and totally obliterated. Iran, the bully of the Middle East, must now make peace,' he said. Advertisement While Joint Chiefs Chairman Gen. Dan 'Razing' Caine said Sunday it was 'way too early' to know the full extent of damage at Iran's Fordow uranium-enrichment complex, satellite images show several large holes and a layer of gray-blue ash where all 14 massive 'bunker buster' bombs, each weighing 30,000 pounds, hit their target Saturday night in Operation Midnight Hammer. The strikes were also a spectacular political calculation by the president who ran on no new wars, and managed to keep a poker face all week as he was given advice by all and sundry. 'Unconventional' He made the right decision, and it appears to have been executed flawlessly. A limited strike, in and out. Iran's nuclear capability has been eliminated or at least severely degraded. No regime change. If the nuclear threat from Iran is indeed neutralized, leading to the extension of the Abraham Accords and peace in the Middle East, Trump will have achieved what countless predecessors failed to do. Advertisement If he pulls it off, without embroiling us in a larger war, he will have carved his role in history as the most courageous and consequential leader since Ronald Reagan. The man who rose from the stage in Butler, blood pouring down his face, raised his fist in the air and said, 'Fight, Fight Fight,' is exactly who you want as commander in chief at a time like this, especially as it's not his first rodeo. Photographs released by the White House show a serious-faced Trump inside the Situation Room Saturday night, wearing his trademark suit and red tie, not cosplaying a flyboy as his more casually-attired predecessors liked to do. His only bow to informality was a red MAGA hat with '45-47' on the side, representing his bifurcated presidential terms and the relentless grit it took to come back from the political dead. Advertisement So much for 'TACO Don.' He outfoxed everyone. Treasury Secretary Scott Bessent, just after emerging from the Situation Room last week where he watched the president deal with the complexities of the Iran-Israel war, likened Trump to Winston Churchill. 'He has a strategy and it's not a conventional strategy, but what conventional person has ever done great things?' said Bessent, in an interview for my new podcast Pod Force One. 'Does anybody think that Winston Churchill was conventional? '[Trump is] also so flexible in terms of the way he looks at things,' Bessent said. 'We've just spent basically the past 24 hours in the Situation Room over the Iran-Israel conflict, and I can tell you that the American people should know, and the American troops should know, that Donald Trump is doing an incredible job looking after their interests in what could turn, without someone like him, could turn into a widespread conflict that US soldiers and interests could get sucked into.' New team Advertisement In one fell swoop, Trump also restored the prestige of the US military, which had plummeted under Joe Biden. Most welcome was the upgrade from Gen. Mark 'Thoroughly Modern' Milley of 'white rage' fame, whom Biden had to give a preemptive pardon on his way out the door, presumably for his Trump-deranged outbursts to the Chinese. In Milley's place we now have 'Razing Caine,' once a daring F-16 pilot, and as cool and contained a general as you could find. 'This mission demonstrates the unmatched reach, coordination, and capability of the United States military,' he told reporters in a Sunday news conference alongside Defense Secretary Pete Hegseth, another veteran whose rapport with 'war fighters' has helped revive recruitment to record levels. 'In just a matter of weeks, this went from strategic planning to global execution,' said Caine. 'As the president clearly said last night, no other military in the world could have done this.' Every week, Post columnist Miranda Devine sits down for exclusive and candid conversations with the most influential disruptors in Washington. Subscribe here! What a contrast to the previous administration. Under Biden, our military was humiliated. Preposterous wokery and weak leadership led to a breakdown in discipline embodied in online displays of perverts in uniform dolled up in kinky dog masks and bondage gear. Advertisement Under Biden, incompetence was the order of the day, from the disastrous withdrawal from Afghanistan, leaving behind $7 billion of equipment, to the failure to bring our astronauts home from the International Space Station, to the $230 million Gaza pier debacle which resulted in the death of one young soldier and dozens of troops injured while delivering minimal aid. The morale and reputation of our armed forces was severely depleted, making a mockery of Biden's frequent refrain' God bless our troops.' Under Biden, Obama's benighted Iran deal that Trump axed in his first term was reanimated. Trump 1.0 left Iran on its knees, unable to fund its proxies to attack Israel. Biden, in his wisdom, empowered and enriched Iran, reappointing Robert Malley, Antony Blinken's childhood friend from their prestigious Parisienne école, as Iran envoy. Malley was then suspended without pay pending an FBI investigation into an Iranian influence ring and his 'mishandling' of classified information. Naturally, the Ivy League came to his rescue, giving him gigs at Yale and Princeton. That is Biden's legacy. Advertisement But instead of thanking Trump for saving the world from a nuclear Iran, Democrats are pretending that he did something unconstitutional, and are whining because he didn't inform Democrat leaders in Congress before the top-secret operation. They only have themselves to blame for proving to be so unreliable with secrets in the past. Hello, Schifty Schiff. Dems were fine with Obama bombing Libya, Syria and Pakistan an estimated 13,000 times, killing thousands of people, without asking Congress for permission. Remember then-Secretary of State Hillary Clinton cackling over Libyan leader Moammar Khadafy's gruesome end when he was sodomized and brutalized to death on camera as she watched lasciviously from afar: 'We came, we saw, he died,' she said. Strong stance Advertisement Democrats should sit this one out. Despite their threats to impeach him, Trump has seized the moral authority and no doubt his already buoyant approval ratings will soar. That's the political dividend of strong leadership. What GOP senator could refuse to pass Trump's beloved Big Beautiful Bill now? And as with everything Trump does, the visuals were impeccable. The icing on the cake was his brand new 100-foot flagpole out the front of the White House, with Old Glory waving languidly in the night breeze as the B-2s worked their magic half a world away. Advertisement You're paying for radical Zoh New York, we have a problem. How could a candidate as toxic and radical as Zohran Mamdani be so close to victory in Tuesday's Democratic mayoral primary? An antisemitic socialist who is running to defund the police and raise more taxes for illegal migrants should be a political impossibility, yet he has surged to second place behind Andrew Cuomo in the polls. Attorney Denise Cohen, who writes a substack as 'Rational New Yorker,' has figured out this dangerous man 'could attain the highest office in NYC using public money that most of us didn't approve through a slush fund that we unwittingly paid for.' Mamdani has the highest social media engagement of all mayoral candidates with almost 6 million likes on TikTok, and has created the false appearance of a vibrant grassroots campaign with tens of thousands of small dollar donors, she writes. But he didn't amass a $8.4 million war chest from grassroots donations. Eighty percent of it came from taxpayers thanks to a New York campaign finance law in which the New York City Campaign Finance Board matches small donations by $8 for every $1 raised. If Mamdani wins, you and I probably paid for his campaign.
CNBC
20 minutes ago
- CNBC
U.S. strikes in Iran spark airline cancellations and travel turmoil
Commercial airlines around the world on Monday were weighing how long to suspend Middle East flights after the U.S. struck Iran. Singapore Airlines, one of the highest-profile in Asia, had called the situation "fluid" on Sunday as it cancelled flights from Singapore to Dubai following a security assessment. The Middle East route has become more important for flights between Europe and Asia since Russian and Ukrainian airspace closed due to war, but flight tracking website FlightRadar24 showed empty space over Iran, Iraq, Syria and Israel. Air France said on Sunday that it cancelled flights to and from Dubai and Riyadh on Sunday and Monday. British Airways, owned by IAG, also cancelled flights to and from Dubai and Doha for Sunday. It was still reviewing the situation, it said in a statement on Sunday evening, when asked about later flights. Missile and drone barrages in a growing number of conflict zones represent a high risk to airline traffic, and an organization that monitors flight risks, Safe Airspace, a website run by OPSGROUP, warned on Sunday that U.S. attacks on Iran's nuclear sites could heighten the threat to American operators in the region. In the days before the U.S. strikes, American Airlines suspended flights to Qatar and United Airlines UAL.O did the same with flights to Dubai. Airlines are also concerned about a potential spike in oil prices following the U.S. attacks, which will increase the cost of jet fuel. Israel meanwhile is ramping up flights to help stranded travellers at home and abroad. The country's Airports Authority says that so-called rescue flights to the country would expand on Monday with 24 a day, although each flight would be limited to 50 passengers. Israeli airline El Al on Sunday said it had received applications to leave the country from about 25,000 people in about a day.
