Canada

Canada's main stock index dropped on Wednesday, as gold and technology stocks?came under pressure?while investors viewed developments?around the Middle East conflict and U.S. president Donald Trump's China visit. At 11:03 a.m., the S&P/TSX composite index of the Toronto Stock Exchange fell 0.5% to 34 128.67. ET. It closed Tuesday at its highest level in three weeks. This index is the worst performing on TSX in this?year. It has fallen by nearly 20%. Brian Madden said that the Canadian technology sector was more of a victim than a benefit of artificial intelligence due to a high concentration of software firms. It...

Kevin Warsh, the new Federal Reserve chairman, is on his way to the Federal Reserve to "clip the wings" of a bank that he believes has strayed into politics. Many countries are afraid that this will only give the 'U.S. Politicians have more freedom to use financial instruments as a weapon. Warsh, who was nominated by U.S. president Donald Trump in January to succeed Jerome Powell at the helm of the board, is expected to be confirmed by the Senate before Powell's?term ends on May 15th. His confirmation hearing delved into his views on?Fed independence? and a controversial preference to...

Canadian retailer Loblaw missed Wall Street expectations for the first quarter revenue on Wednesday, as consumers become more cautious in their spending amid rising macroeconomic uncertainty. Lower-income Canadians are cutting back on non essential spending due to a squeeze on their household budgets caused by?higher prices for groceries, higher crude oil prices from Iran's war, and increased inflation. Retailers in North America are feeling the pinch. U.S. supermarket Albertsons forecasted soft sales last month, and Canadian discount retailer Dollarama projected a year-end?sales that were largely below expectations. Loblaw continues to expect that its adjusted net income will grow in the...

Suncor Energy, Canada's largest energy company, beat Wall Street estimates for the first quarter adjusted profit on Tuesday. This was largely due to higher production and throughput volumes. Geopolitical unrest and volatility of global oil prices dominated the?quarter. Prices have risen by more than 87% in this year alone after the U.S./Israeli war against Iran damaged supply chains?and key energy infrastructure. Canadian oil and gas producers have steadily increased output while reducing costs. Suncor, and its peers have outperformed global competitors amid macro-uncertainty due to years' worth of investment. Suncor's quarterly upstream?production increased to?875,000 barrels a day (bpd), from 853,000...

The World Bank announced a new strategy on Friday that focuses on jobs to help small island states, and other small countries address challenges like remoteness, shock exposure and a limited economic base. World Bank President Ajay Banga spoke about the initiative in a closed door meeting of 50 ministers and governors of central banks from small countries, held during the spring meetings for the International Monetary Fund (IMF) and World Bank. He explained that the idea was to use different tools to help smaller states attract more investment, implement policy and regulatory changes to make it easier to run...

Alberta, Canada's oil-producing province, announced a C$9.4 billion ($6.87billion) budget deficit for the fiscal year 2026/27 on Thursday. This was a violation of its own rules regarding deficit financing. The province blamed lower global crude prices as a major factor in the decline of its resource revenues. Alberta is vulnerable to fluctuations in commodity prices, which has prompted the government to undertake a 'broad review' of its finances and expenditures, with the aim of restoring budget sustainability over the long-term. Alberta has the third largest oil reserve in the world, Canadian oil sands. Its economy is heavily dependent on the...

The U.S. Supreme Court has agreed to hear ExxonMobil and Suncor Energy's bid to quash a lawsuit filed by Boulder, Colorado officials who want to hold oil companies responsible for climate change. The Supreme Court heard an appeal from the companies against a ruling of the lower court that allowed the lawsuit to proceed. The lawsuit alleging violations of state law by the companies seeks unspecified damages for "costs incurred" by Boulder in mitigating climate change. Boulder is just one of the dozens of climate-related cases filed by U.S. states against companies that produce, extract, distribute, or sell fossil fuels....

Alberta will hold a referendum in the fall asking residents whether the government should limit?the number of international students, 'temporary foreign workers' and asylum seekers who?arrive?into the oil-rich Canadian Province. Alberta's Premier Danielle Smith announced the move in a television address on Thursday night. It is an attempt to take control of this important issue away from the federal government. Ottawa is responsible for the majority of immigration policy in Canada, and not the provinces. This is a blow to Canadian unity at a time when the Prime Minister Mark Carney is trying to improve relations with resource-rich western provinces,...

The main Canadian stock index was a little subdued Thursday as declines in healthcare and financial shares overshadowed gains in energy stocks. As of 10:15 a.m., the S&P/TSX composite index was down 0.06%, at 33,368.79. ET. Bausch Health, a specialty pharmaceutical firm, fell 4.1% following a quarter-end loss. Healthcare shares were down 1.8%. Wall Street's main indexes fell on Thursday. Heavyweight technology stocks dropped after recent gains. The TSX tech stocks fell by 1.4% after a strong session. Heavyweight Financials fell by 0.8% The TSX Energy Index gained the most, 2%. Oil prices reached a six-month high amid fears of...

Ivanhoe Mines is in advanced discussions with Congo's Gecamines state miner and Swiss commodities trader Mercuria about channeling zinc-rich concentrates from its giant Kipushi mining to the United States, under Washington's newly developed strategic stockpiling program Project Vault. The deal is part of a larger agreement between the U.S., and the Democratic Republic of Congo in the area of minerals. Washington is intensifying its battle with China for control of Africa's vast mineral deposits. Project Vault, a $12 billion supply chain security programme launched by the U.S. on Monday and backed by private capital of $1.67 billion and a U.S....

Four trade sources reported?on Tuesday that the independent Chinese refiner Chambroad Petrochemical had purchased one Canadian crude cargo for May delivery. This follows a decrease in Venezuelan crude supply to China. According to sources, the refiner is one of the biggest buyers of Venezuelan crude oil. It also imports Canadian oil from the Trans Mountain pipeline for its bitumen manufacturing. Chambroad bought Canadian Cold Lake Crude exported?from TMX for a discount of close to $5 per barril compared to the July ICE Brent contract, according to two people. The crude was to be delivered to the eastern Shandong Province in...

British Columbia's Premier David Eby, who is on a six-day Indian trip, said that the province wants to strengthen its?commercial relations with India, particularly in the areas of liquefied gas, critical minerals, lumber, and technology. Both countries want to rebuild their trade ties following a two-year freezing and diversify supply chains as a reaction to U.S. Tariffs. "Unjustified tariffs from U.S.?impacting B.C. Eby said in an interview that it was more important than ever for workers and businesses to develop strategic relationships with international counterparts. The dates for the Canadian Premier Mark Carney's visit, which will continue until Saturday, have...

The U.S. plan to indict Cuba's former 'leader Raul Castro for the downing humanitarian planes 20 years ago increased tensions in the island Friday. This comes as the country is struggling with its worst crisis in decades due to severe fuel shortages. Indicting the '94-year old'revolutionary icon' would be a major step in the Trump administrations pressure campaign on Cuba. The Trump administration has been describing the communist government of Cuba as corrupt and incompetent, while pushing for change. Cuba has not yet commented directly on the threat to indict, but Bruno Rodriguez, Cuba's Foreign Minister, expressed his defiance Friday....

These are the most popular?stories from the Wall Street Journal. These?stories have not been verified and we cannot vouch for their accuracy. Cerebras Systems' initial public offering in the United States was priced at $185 per share, which is above the upper end of their indicated price range. - 'Chip startup Fractile announced that it raised a $220 million Series?B funding round led by Accel, Factorial Funds and Peter Thiel’s Founders Fund. Cisco Systems will cut?thousands? of jobs in order to?increase artificial intelligence? in its business. The National Football League has signed a four-year contract with Netflix to license three...

Equinox Gold announced on Wednesday that it would purchase Orla Mining as part of a 'all-stocks deal' to create a North American Gold Producer?worth $18.5 billion. Orla Mining's U.S. listed shares rose?3.4% during premarket trading. Gold prices have soared to record highs, boosting cash flow and improving access to capital for miners. This has encouraged them to increase their reserves and expand their presence in mining regions that are safer such as Canada and United States. Calculations show that Orla shareholders will receive a nominal cash payout for each share they hold, and one Equinox common stock. The transaction is...

In a press release, Brazilian labor inspectors fined Sigma Lithium after they found that the company had deposited waste into a pile which was closed because it posed a "grave" and "imminent" risk to workers and local residents. Inspectors discovered that despite three Sigma waste piles being closed last December, trucks continued to deposit waste on one of them. Sigma did not respond immediately to a comment request. The largest lithium producer in Brazil announced that it would resume mining at its flagship Grota do Cirilo Mine despite the piles having been shut down. When the piles closed late last...

The United States imposed financial sanctions on Thursday on a conglomerate of businesses run by the?Cuban military and a joint venture between Cubans and Canadians in the mining industry. This comes as the Trump Administration intensifies its pressure on Cuba's communist leadership by targeting foreign investment sources. Donald Trump, the U.S. president, has commented on the January military raid that was conducted to capture the leader of Venezuela's longtime ally Cuba. Cuba is next" and blocked most oil deliveries to the country. This worsened power outages in the island. Trump signed an executive directive last week that broadened U.S. Sanctions...

Three sources claim that the largest contractor of Barrick Mining’s Loulo-Gounkoto Gold Complex in Mali has closed operations and laid off more than 600 employees. This is a new sign the Canadian miner wants to reduce its exposure to high-risk assets. Sources familiar with the situation said that the move was prompted by a sluggish investment and production at the complex. Barrick had taken control of the complex from Malian administrators after a standoff over taxes and ownership. First and second sources said Barrick did not intend to renew its contract with Gounkoto Mining Services in 2026. They added that...

The head of Argentina's mining chamber said Thursday that the flagship investment incentive program for large projects, which currently has a 2027 deadline, should be extended. He argued the program was key to unlocking billions in planned investments. Roberto Cacciola said that the Incentive Regime for Large Investments, or RIGI, has helped to attract capital into the mining sector. The RIGI offers tax, currency, and legal stability advantages for projects valued at more than $200,000,000. Cacciola suggested that the scheme be expanded to include smaller projects which are important in creating jobs and supporting local supply chains. Cacciola told the...

In 2024, a new mine producing silver, barite, and lead opened in the mountainous central Bosnian town of Vares. After decades of economic devastation, new roads, houses, and cafes were built. The population of the small town Vares, in central Bosnia, grew with new workers and residents. Blood tests in recent months have shown that more than 300 residents living near the mine are exposed to lead. Some of these levels are high, alarming the locals and putting the future of the town into question. Four Bosnian environmental agencies have filed criminal charges with the Zenica Doboj cantonal prosecutor's office...

The Group of Seven Trade Ministers met in Paris on Wednesday to find common ground for securing vital?mineral? supplies that are dominated primarily by China. However, the United States' recent tariff threats against European Union made cars could strain unity. As ministers prepare to hold a summit of leaders in mid-June, Nicolas Forissier, the French Foreign Trade Minister said that France wanted critical minerals supplies among its most tangible deliverables. He said: "I think we'll make concrete progress in rare earths, critical minerals and supply chain security. We won't be held hostage to certain countries." There was a broad consensus...

After thousands of protesters raised environmental concerns, President Luis Abinader ordered the suspension of all activities related to GoldQuest Mining’s gold and copper project. GoldQuest Canada is developing the Romero Project in San Juan Province. The company had earlier announced that it was aware of the demonstrations, and committed to transparent development. The company did not respond immediately to a request for a comment about Abinader’s order to stop work. On Sunday, thousands of people took to the streets in protest. They walked about 20 km through San Juan, to reach the Sabaneta Dam. This is a vital water source...

Mark Carney, the Prime Minister of Canada, said that Donald Trump had not discussed the idea of Canada paying an "entry fee" before a scheduled re-examination?of?the United States Mexico Canada trade agreement can begin. The three countries are expected to complete their work by the 1st of July, but tensions between the U.S. and Canada over tariffs imposed by Trump on 'key imports' from Canada last summer have complicated this schedule. The United States already has outlined the concessions that it expects 'Canada' to make, a move some commentators and domestic media say is similar to requiring an entry fee...

A spokesperson for Vicuna Corp said that police in Argentina's La Rioja province had blocked access to the?roadway leading a a copper megaproject?in the neighboring San Juan province citing a court order. The spokesperson for Vicuna Corp. said that the company, which is a joint venture between BHP Australia and Lundin Mining Canada, had not received official notification of the court order. According to the company, the project, which spans?the Argentina and Chile border, includes the Filo del Sol mine and Josemaria Mine, which 'together form the Vicuna District', one of the largest undeveloped copper, silver and gold deposits in...