U.S. court decisions on Trump's tariffs shows volatility of situation: Champagne

Finance Minister François-Philippe Champagne tells Power & Politics two U.S. court decisions that blocked, then reinstated, President Donald Trump's broadest tariffs show Canadians how 'volatile' the trade situation is.

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CTV News

17 minutes ago

• CTV News

Olympic president Kirsty Coventry starts work with strong IOC and challenges for Los Angeles Games

Kirsty Coventry reacts after she was announced as the new IOC President at the International Olympic Committee 144th session in Costa Navarino, western Greece, March 20, 2025. (AP Photo/Thanassis Stavrakis), File) GENEVA — The world Kirsty Coventry walks into Monday as the International Olympic Committee's first female and first African president is already very different to the one she was elected in three months ago. Take Los Angeles, host of the next Summer Games that is the public face and financial foundation of most Olympic sports. The city described last week as a 'trash heap' by U.S. President Donald Trump is preparing to welcome teams from more than 200 nations in July 2028. Most of the 11,000 athletes and thousands more coaches and officials who will take part in the LA Olympics will have seen images of military being deployed against the wishes of city and state leaders. A growing number of those athletes' home countries face being on a Trump-directed travel ban list — including Coventry's home Zimbabwe — though Olympic participants are promised exemptions to come to the U.S. Several players from Senegal's women's basketball team were denied visas for a training trip to the U.S., the country's prime minister said. A first face-to-face meeting with Trump is a priority for the new IOC president, perhaps at a sports event. Welcome to Olympic diplomacy, the outgoing IOC president Thomas Bach could reasonably comment to his political protégé Coventry. The six Olympic Games of Bach's 12 years were rocked by Russian doping scandals and military aggression, Korean nuclear tensions, a global health crisis and corruption-fueled Brazilian chaos. Still, Coventry inherits an IOC with a solid reputation and finances after a widely praised 2024 Paris Olympics, plus a slate of summer and winter hosts for the next decade. Risks and challenges ahead are clear to see. New leadership style For the two-time Olympic champion swimmer's first full day as president Tuesday she has invited the 109-strong IOC membership to closed-doors meetings about its future under the banner 'Pause and Reflect.' 'The way in which I like to lead is with collaboration,' said Coventry, who was sports minister in Zimbabwe for the past seven years, told reporters Thursday. Many, if not most, members want more say in how the IOC makes decisions after nearly 12 years of Bach's tight executive control. It was a theme in manifestos by the other election candidates, and the runner-up in March, IOC vice president Juan Antonio Samaranch, will lead one of the sessions. 'I like people to say: 'Yes, I had a say and this was the direction that we went,'' Coventry said. 'That way, you get really authentic buy-in.' In an in-house IOC interview, Coventry also described how she wanted to be perceived: 'She never changed. Always humble, always approachable.' That could mean more member input, if not an open and contested vote, to decide the 2036 Olympics host. The 2036 decision Coventry's win was widely seen as positive for the ambitions of India, and its richest family, to host the Summer Games that will follow Los Angeles in 2028 and Brisbane in 2032. Nita Ambani, the philanthropist wife of industrialist Mukesh Ambani, has been an IOC member since 2016 and helped promote India's Olympic bid in Paris last year. She and Coventry are seen as being close, and the 2036 hosting award is among the biggest decisions pending. 'It is an open question,' Coventry told reporters Thursday. 'For me as a president I need to be able to remain neutral.' Qatar is bidding for the Summer Games for a fourth time and Saudi Arabia also is interested. A regional Middle East bid could be a political and logistical solution. A Bach legacy is the policy of fast-tracking well-connected bidders into exclusive negotiations toward a rubber-stamp vote by IOC members. Russia's return At some point in Coventry's presidency, Russia could possibly return fully to the Olympic family. It is unclear exactly when less than eight months before the 2026 Winter Games opening ceremony in Milan. Russian athletes have faced a wider blanket ban in winter sports than summer ones during the military invasion of Ukraine. Even neutral status for individual Russians to compete looks elusive. Vladimir Putin offered 'sincere congratulations' on Coventry's election win, with the Kremlin praising her 'high authority in the sporting world.' However, there seems little scope for the IOC to lift its formal suspension of the Russian Olympic Committee imposed in 2023 because of a territorial grab in sports administration. Four regional sports bodies in eastern Ukraine were taken under Russian control. Coventry said she will ask a task force to review IOC policy relating to athletes from countries involved in wars and conflicts. Gender equality The first Summer Games under a female presidency will be the first with a majority of athlete quota places for women. Another task force is promised to look at gender eligibility issues, after the turmoil around women's boxing and two gold medalists in Paris. The new World Boxing governing body said last month it will introduce mandatory sex testing. Coventry often states the importance of 'Olympic Values,' which include gender parity, inclusion and inspiring young people through sports. 'That is something that we can never, never, never compromise. And we have to be proud of that.' IOC housekeeping The top-tier Olympic sponsor program might have peaked in Paris with 15 partners earning the IOC more than US$1.6 billion in cash and services over the past two years. The sponsor slate is down to 11 after all three Japanese sponsors and US tech firm Intel did not renew, though a major new backer from India is all-but promised. Total revenue was $7.7 billion for 2021-24, including $3.25 billion of broadcasting revenue in 2024. It helps fund the Olympic Channel media operation in Madrid and about 700 staff in Lausanne. Salary and staff costs topped $250 million last year. Though the future broadcasting landscape is hard to predict, the IOC has said $7.4 billion already is secured through 2028, and $4 billion for the 2033-36 commercial cycle. That sum was topped up in March with a foundational $3 billion deal. NBC renewed for two more Olympics through the 2034 Salt Lake City Winter Games and the 2036 Summer Games that look destined for Asia. The IOC also has a 12-year deal with Saudi Arabia through 2036 to host a video gaming Esports Olympics, though the launch is delayed until at least 2027. Graham Dunbar, The Associated Press

Global News

20 minutes ago

• Global News

Israel-Iran conflict enters a second week with renewed strikes

The second week of the Israel–Iran war started with a renewed round of strikes targeting an Iranian nuclear research facility near Isfahan. Talks in Geneva on Friday between European foreign ministers and Iran's top diplomat failed to produce a breakthrough. U.S. President Donald Trump continued to weigh his country's military involvement as concerns spiked over potential strikes on Iranian nuclear reactors. Still, European officials expressed hope for future negotiations. Iranian Foreign Minister Abbas Araghchi said he was open to further dialogue but stressed Tehran wasn't interested in negotiating while Israel continued attacking. Iranians are left with no internet access again Internet-access advocacy group reported on Saturday that the limited internet access that had come back up in Iran has once again 'collapsed.' Story continues below advertisement The group said on X that the disconnect came after 'a brief period when residents could exchange messages with the outside world.' ⚠️ Update: Internet connectivity has again collapsed in #Iran following a brief period when residents could exchange messages with the outside world; Iran's nation-scale internet shutdown remains in effect, limiting access to information as the conflict with Israel continues — NetBlocks (@netblocks) June 21, 2025 A nationwide internet shutdown has been in place for several days, isolating Iranians. Iran cited concerns about Israeli cyberattacks for the shutdown of mobile and web services. But many Iranians and activists see it as another example of state information control and targeted internet shutdowns the Islamic Republic has deployed during periods of protests and unrest. Internet slowly trickles back in Iran Iranians on Saturday began to see some internet access restored, giving people the opportunity to call friends and family for the first time in days. Story continues below advertisement Those in the diaspora posted on social media about connecting to FaceTime or WhatsApp to call relatives they had been worried about. Government officials had disconnected phone and web services earlier in the week for the more than 90 million people who live in Iran, citing cybersecurity threats from Israel. That left civilians unaware of when and where Israel would strike next and if their family or friends were among the victims. Tasnim News Agency, closely affiliated with Iran's government, quoted the information minister as saying that access to 'international' internet should be restored across the country by 8 p.m. Turkey urges Islamic unity against 'Israeli problem' Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Turkish Foreign Minister Hakan Fidan says the Middle East is faced with an 'Israeli problem' and called on Islamic countries to take a collective stand and show solidarity with Iran. 'Israel's ongoing aggression and occupation policies clearly show that there is an Israeli problem in our region that needs to be addressed,' Fidan said in an opening speech at a meeting of the Organization of Islamic Cooperation in Istanbul on Saturday. He also warned that Israel's actions could trigger broader regional instability. 2:26 Is Iran close to a nuclear weapon? Why Israel's Netanyahu thinks they are Italians evacuated from Iran arrive in Azerbaijan The Italian foreign ministry said the 24 Italians are the second group to evacuate via Azerbaijan's Baku. Story continues below advertisement 'After about nine hours of travel and a very long wait at the border, the group was welcomed by representatives of the Italian Embassy in Baku, and then moved to the airport of the Azerbaijani capital to wait to return to Italy with the first available flights,' the ministry said. The group included an Italian doctor and his partner, an Iranian woman, and their 18-month-old child, the ministry said. Another convoy from Iran could depart from Tehran as early as Monday. The first group that arrived in Italy via Baku in recent days had 34 Italian nationals. Italy's foreign ministry also said it chartered a flight to help evacuate its citizens from Israel via Sharm el-Sheikh, Egypt, on Sunday. 1:54 How Iranian-Canadians feel about Israel's war Evacuees in Cyprus recall missiles flying overhead Noah Page says it's one thing to watch missiles crisscrossing the sky on the news and another to experience it firsthand. Story continues below advertisement 'You see it on the news, you see everything, but you never really expect it to actually hit you when you're there,' the Ohio-native told the Associated Press. 'As someone who grew up in Canada, it's so foreign to me to even think about missiles or a war and you hear about it on the news and it's just so separate from you,' said Pe'er, a 23-year-old who didn't want to give her last name. 'It sort of felt like fireworks at first until the reality of the situation set in. I need to run or I might end up hurt.' Page and Pe'er were among an estimated 1,500 other young people from around the world visiting Israel who were evacuated by cruise ship on Saturday to Cyprus, the closest European country to Israel, at around 270 kilometers. It was the second such trip by the cruise ship bringing people out while ferrying stranded Israelis back to their homeland. Florida native Alex Rosenblum had been in Israel before in times of war, when the sounds of sirens urging citizens to rush to shelters had become almost routine. But he says this time it was different. 'This situation with Iran has been a lot scarier because there's a big difference between a rocket and a missile,' he said. The three young people found safety in underground shelters when digital alerts were sent out. Story continues below advertisement Iran's Araghchi says it will be 'very dangerous' if US gets involved in warIranian Foreign Minister Abbas Araghchi said it would be 'very, very dangerous for everyone' if the United States becomes actively involved in the war with Israel. View image in full screen Iranian Foreign Minister Abbas Araghchi listens to speeches as he attends the Council of Foreign Ministers of the Organization of Islamic Cooperation meeting, in Istanbul, Turkey, Saturday, June 21, 2025. Khalil Hamra / The Associated Press He spoke to reporters in Istanbul on his way home from talks in said American military involvement 'would be very unfortunate.' UN refugee agency calls for de-escalation The UNHCR said Saturday that the intensity of the attacks is already triggering population movements in Israel and Iran: Some from Tehran and other parts of Iran have crossed into neighboring countries while shelling has caused people in Israel to seek shelter elsewhere in the country and, in some cases, abroad. The agency urged states in the region to respect the right of people to seek safety where needed and to facilitate humanitarian access. 'This region has already endured more than its share of war, loss, and displacement — we cannot allow another refugee crisis to take root,' the U.N. High Commissioner for Refugees, Filippo Grandi, said. 'The time to de-escalate is right now. Once people are forced to flee, there's no quick way back — and all too often, the consequences last for generations.' Story continues below advertisement Tehran vows to make Grossi 'pay' A senior adviser for Iran's Supreme Leader, Ali Khamenei, vowed in a social media post Saturday to make the head of the International Atomic Energy Agency 'pay' once the war with Israel is over. Ali Larijani's threat comes as IAEA Director General Rafael Mariano Grossi has become a major target for many Iranian officials who say his conflicting statements about the status of Iran's nuclear program incited the Israeli surprise attack last week. Grossi told the United Nations' Security Council Friday that while Iran has the material to build a nuclear bomb, it appears they have no plans to do so.

CTV News

32 minutes ago

• CTV News

Hidden costs of home ownership that most people forget to budget for

Personal finance contributor Christopher Liew breaks down some of the most commonly forgotten costs of owning a home, so you can budget smarter, plan ahead, and step into homeownership with confidence. (gopixa / Getty Images) Christopher Liew is a CFP®, CFA Charterholder and former financial advisor. He writes personal finance tips for thousands of daily Canadian readers at Blueprint Financial. Are you planning to become a homeowner in the near future? One of the biggest mistakes that prospective buyers make is to focus solely on the estimated mortgage payment, while forgetting about the host of additional ownership expenses that can easily mount up to hundreds of extra dollars per month. Below, I'll break down some of the most commonly forgotten costs of owning a home, so you can budget smarter, plan ahead, and step into homeownership with confidence. It's not just about the mortgage A recent report from Equifax Canada showed that an increasing number of homeowners are missing their mortgage payments. This is something that you really want to avoid if you want to keep your credit in good standing. If you're a first-time buyer who's used to renting where you live, it's easy to start shopping for homes by their estimated mortgage price, the same as you may shop for apartments based on your monthly rental budget. When you make the jump from being a renter to a homeowner, though, you'll be required to take on the full financial burden of many of the same responsibilities that your landlord used to take care of on their dime. Overlooking these expenses can quickly stretch your budget and turn homeownership from a dream into a financial strain, trapping you in a living situation that you find difficult to afford. What is considered a hidden cost in home ownership? Each house is going to come with various associated expenses based on a number of factors, including: How old or new the home is What type of neighbourhood is the house in The property under and around the home The type of dwelling (condo vs house) Some properties are lower maintenance, while others require constant upkeep. With this in mind, here are the potential expenses to watch out for as you begin your home-shopping journey. 1. Home insurance Home insurance isn't legally mandated in Canada, but if you finance your purchase with a mortgage, your lender will nearly always require it, especially if your down payment is less than 20%. This protects their investment until you fully own the property On top of that, if your down payment falls below 20%, you'll also need mortgage loan insurance, often called CMHC insurance when provided by the Canada Mortgage and Housing Corporation. It's required by law for high-ratio mortgages (i.e., those with more than 80% loan-to-value) and allows you to borrow up to 95% of the purchase price 2. Property taxes Another inescapable expense is going to be your annual property tax. Failure to pay your property tax can result in your home being taken away by the government. The amount you'll be taxed is usually determined by the current estimated value of your property, which ca fluctuate significantly from one year to the next. 3. Everyday repairs If you live in a recently built home, you likely won't have too many repairs to worry about, and much of the building and appliances may be covered by a limited warranty if a hiccup occurs. However, if you live in an older home, you'll need to budget for maintenance and repairs such as: Plumbing leaks Electrical repairs Roof or window leaks Locks and door hinges Railings, banisters, and stairs If you're a DIY type of person with the tools, time, and knowledge to do your own repairs, you can save a lot of money here. If not, then you could easily find yourself paying $1,000 or more every year in simple household repairs. 4. Increased heating and cooling costs If you're coming from renting a small, well-insulated apartment, you're going to notice a sizable increase in your monthly heating and cooling costs. Larger homes require more power to heat and cool. There are a number of ways you can better insulate your home and reduce energy costs (some of which are also tax-deductible), but this is yet another expense you'll foot the bill for. 5. Roof replacement A classic shingle roof will typically need to be replaced every 10 to 15 years. When purchasing a house, it's a good idea to ask the realtor or seller when the last time the roof was replaced. Depending on how big the roof is, replacement can cost anywhere between $5,000 on the low end to $20,000 or more on the high end. 6. Pest control and prevention If you want to prevent a costly infestation, you'll want to periodically treat your home and property for pests. Compared to some of the other expenses on this list, pest control is more affordable. A pest control company will typically visit your home on a monthly or quarterly basis, spray a few pesticides, and be on their way in less than an hour. 7. Appliance upgrades Again, if you have a newer home, you likely don't need to worry about appliance upgrades. However, if you're purchasing an older home with older appliances, you need to weigh the possibility that appliances will need to be repaired or replaced in the near future. Most appliances such as refrigerators, dishwashers, stoves, washers, and dryers have an average lifespan of 10 to 15 years when well cared for, but each can cost upwards of $500 or more to replace with a brand-new unit. Finding the right home within your budget All in all, between various monthly expenses and building an emergency savings account for major repairs, you could easily end up paying an extra $300 to $500 per month in addition to your mortgage. This means that a home with a $2,500 mortgage could really end up costing you $3,000 or more each month, skewing your annual budget by $6,000 per year. Unlike renting, where you can easily downgrade and move to a cheaper unit at the end of your lease, you're stuck with your home and all of its expenses unless you want to go through the tedious and lengthy process of selling your home. To ensure you don't end up with more home than you can afford, create an estimated list of expenses for each home you're considering, and then add that to the estimated mortgage price. More from Christopher Liew: