Canada

Lawrence Stroll, the team owner of the Silverstone-based outfit, said that the Aston Martin brand would be present in Formula One for many decades to come. Aston Martin has announced that it will raise more than 125 millions pounds ($161.9million) from Stroll, the company's chairman, as well as the sale of the stake in its F1 team, which is controlled and owned by the Canadian. The billionaire stated in a press release that "these moves demonstrate Aston Martin's position on the Formula One Grid is as secure and ever." Aston Martin and its British racing-green colours will continue to compete...

The "Buy Canadian' movement has sent new waves of concern to the U.S. consumer companies who had hoped to sell their products in Canadian retail stores. Jessica Hung, CEO of California-based Parasol Co, said that the company has been working with a distributor since January to increase sales to new retailers, including convenience shops, in Canada. Hung said that the distributor, whom she declined to identify, had stopped working on the deal in early March due to the growing anti-American sentiment? Canada. Hung, referring the distributor, said that "they were instructed by a retail to pause any American-brand launch." They...

The U.S. president Donald Trump announced on Wednesday a 25% tariff for imported cars and light vehicles starting next week. This move will likely increase prices and slow production, according to auto industry experts. What are your reactions? NATIONAL FOREIGN TRADE COUNCIL (NFTC), WHICH REPRESENTS A LOT OF U.S. COMPANIES. VP TIFFANY SMITEH "Placing tariffs against imports of automobiles could damage the competitiveness and export-readiness of an industry which relies on international supply chains and market integration for its success. We urge the administration, to prioritize the market opening opportunities of auto companies that manufacture vehicles for export from the...

Bloomberg News reported Wednesday that potential buyers of Japan's Seven & i stores and Canada's Alimentation Couche-Tard (ACT) U.S. shops have until the end March to express interest and address any antitrust concerns. Bloomberg News reported that some potential buyers have been involved in the process and signed non-disclosure contracts. ACT, the Canadian company that operates Circle-K convenience shops in Canada and the United States has been attempting to buy Seven & i, the struggling Canadian retailer, since August. The Canadian firm is ready to increase its latest offer of $47 Billion. Seven & i, which opposed the takeover bid,...

Alex Miller, CEO of Alimentation Couche-Tard, said that no non-disclosure agreements had been signed regarding potential stores to be sold by Alimentation Couche-Tard and Japan's Seven & i in order to meet U.S. Antitrust requirements for a deal. Earlier that day, a Seven & i spokeswoman said that the companies signed NDAs early in March. The NDAs only covered stores which are likely to be divestiture candidates. Seven & i has not signed a non-disclosure agreement. Miller stated in a call after earnings that they were working together with Seven & i on a marketing package to show what a...

On Tuesday, President Donald Trump doubled the planned tariffs on steel and aluminum imports from Canada. This was in response to Ontario's decision on Monday to impose a 25% tariff for its electricity exports into the U.S. Trump posted on his Truth Social media page that he had instructed his Commerce Secretary to impose an additional 25% tariff for metals products. The new tariff will be in effect Wednesday morning. "Canada must also immediately remove their anti-American Farmer tariff of 250% to 390 % on various U.S. Dairy Products, which is long considered outrageous. "I will declare a National Emergency...

Alimentation Couche-Tard, a Canadian company, said Tuesday that it was confident of obtaining the regulatory approvals needed in the United States to purchase Japan's Seven & i Holdings. The latter had said that antitrust laws would prevent any transaction. It said that it was also frustrated by Seven & i’s lack of engagement, despite the fact that both companies have started working together to find a way to get regulatory approval. Stephen Dacus of Seven & i, the CEO who was appointed just last week, reiterated the fact that there are significant regulatory obstacles to a merger. In a press...

ADNOC (Abu Dhabi National Oil Co.), a state-owned company, has pursued a number of mergers and acquisitions with European companies with the aim of diversifying and developing its renewable energy and chemicals operations. ADNOC has been involved in the following deals and discussions: COVESTRO ADNOC announced on October 1 that it had agreed to purchase German chemicals manufacturer Covestro for $14.7 billion. This is one of the largest foreign takeovers in the Gulf, and is intended to reduce the country's heavy reliance on oil during the energy transition. ADNOC will merge with OMV its polyolefin business to create a chemical...

Seven & i Holdings announced a new CEO and plans for a restructure of its business after a $47 billion takeover bid from a foreign company. The company announced that Stephen Dacus, a lead outside director, will succeed Ryuichi isaka as CEO, putting a first-time foreign executive at the helm of Seven & i. A press conference will be held by the company at 5 pm (0800 GMT) to discuss this plan. Seven & i, which has faced investor criticism for its capital allocation over the past few years, received a buyout bid from Circle-K operator Alimentation Couche-Tard in August....

According to traders and analysts, the price of gasoline in the United States is set to rise as a result of new tariffs that President Donald Trump's administration has imposed. These tariffs will increase the cost of imported energy. This outlook highlights a potential unintended result of Trump's trade protectionist policies. They are intended to boost the U.S. economic growth, but instead could lead to higher bills for consumers. On Tuesday, the Trump administration imposed a 25% tariff on all Mexican imports, a 10% tax on Canadian energy and doubled duties on Chinese products to 20%. The Trump administration has...

The shares of Seven & i fell as much as 12% Tuesday following a report that the 7-Eleven owners plans to reject a takeover offer worth $47 billion from Canada's Alimentation Couche-Tard. However, the Japanese company still said it is considering the offer. In Tokyo, the shares fell 8% to 2,023 yen after falling as high as 12% earlier. They had reached their lowest level in just over six months. The Yomiuri reported on Tuesday, that Seven & i intended to reject the takeover bid from Circle-K's owner Couche-Tard in order to instead enhance corporate value by itself. Seven &...

Seven & I Holdings, a Japanese company, said that the Ito family's founders could not secure financing for a management buyout of $58 billion. It would instead consider a competing offer from Alimentation Couche-Tard in Canada. 7&i said that it was not able to take action on any proposal made by Mr. Junro Ito or Ito-Kogyo at this point. "7&i is committed to exploring every opportunity to unlock value for its shareholders. We continue to evaluate a range of strategic options, including Alimentation Couche-Tard's proposal." Itochu announced in a press release that it no longer considered participating in the Seven...

According to internal memos and sources, the former head of Mercuria's Beijing office will join China's largest oil refining group Rongsheng Holdings as a senior executive. Li Xinhua will assist Xiang Jingjiong as president of Rongsheng Holdings. Li will be responsible for Rongsheng’s coal, petrochemical and oil trading businesses in Singapore, according to sources who declined to name themselves as the move had not yet been announced. Rongsheng has not yet commented. Li has been with Mercuria in Geneva for 17 years, one of the top four commodities and energy traders on the planet. Li's new role is to grow...

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch their accuracy. If he believes that Moscow is blocking the efforts of President Donald Trump to end the conflict in Ukraine, he will impose secondary duties of 25 to 50 percent on Russian oil buyers. Nearly 40 countries, including China and Russia, have voiced their opposition to the plan of The Metals Company, a Canadian miner, to begin seabed mining on the Pacific Ocean. The company applied for exploration permits and permits to the U.S. Department of...

Wall Street stocks finished sharply lower Friday with sales in Amazon, Microsoft, and other technology giants. U.S. statistics stoked concerns of weak economic growth, high inflation, and the Trump administration's escalating tariffs. The U.S. consumer's spending in February was less than expected, while an indicator of prices underlying the data rose at its highest rate in 13 months. A University of Michigan study showed that in March consumers' expectations for 12-month inflation had risen to their highest level in almost 2-1/2 years. They also expect inflation to continue to rise beyond the next 12 months. This data fuelled fears that...

Donald Trump, the U.S. president, said that he and Canadian Prime Minister Mark Carney had a productive phone call on Friday. The two leaders will meet next month after the Canadian election. Trump posted on his Truth Social social media platform that the call was "extremely productive". We agreed on many points and will meet immediately after Canada's next election to discuss elements of Business, Politics and other factors. He added that the work would be great for both Canada and the United States. Carney's office and Carney himself have yet to comment on this call. It comes a day...

Canada is planning additional retaliation against the U.S. tariffs on autos and tariffs reciprocated by U.S. trading partner countries scheduled to begin in early April. Mark Carney, the Canadian Prime Minister, said that he has not yet decided what he will do. actions Canada might take , however. Trump imposed tariffs of 25% on March 6 on goods that were not compliant with the U.S. Mexico Canada free trade agreement, but delayed a 25% tariff for most Canadian goods by 30 days. He then imposed tariffs Steel and Aluminum Imports will be allowed on March 12. Here are the retaliatory...

The Metals Company, a Canadian mining company, announced on Thursday that it had initiated a formal process with the U.S. Department of Commerce for the application of exploration licenses and permit to extract minerals from ocean floors. The company intends to apply for a permit under the Deep Seabed Hard Mineral Resources Act of 1981 (DSHMRA), rather than the International Seabed Authority, stating that the latter has not yet adopted regulations regarding deep seabed exploitation. It added that it had requested a consultation prior to the application with National Oceanic and Atmospheric Administration. TMC's attempt to be the first company...

Donald Trump, who has been threatening new tariffs for weeks on imported vehicles, followed through with his threats on Wednesday. He said that a 25% tax would be imposed on cars not made in the U.S. next week. Trump will add a 25% tariff to previous duties on imported finished vehicles, starting April 3 at 12:01 am EDT (0401 GMT). The U.S. base tariff rate on automotive imports is 2.5 percent. The plan to disrupt the auto supply chain and trade sparked uncertainty among investors and customers, and retaliation threats were made. Global auto stocks fell from Asia to America....

Donald Trump, the U.S. president, announced on Wednesday a 25% tariff for imported cars and light vehicles starting next week. This move will likely increase prices and slow production. Here are some reactions from around the world. ELON MUSK is the CEO of TESLA It is important to note that Tesla has not been left untouched in this situation. Tesla's tariff impact is still substantial. The price of Tesla parts that are imported from other countries will be affected. "The cost impact is not insignificant." SHIGERU ISHIBA IS JAPAN'S PRIME MINISTER "Japan makes the most investment in the United States....

The main Canadian stock index dropped on Wednesday. Losses in the tech sector were a major factor, but markets were also affected by uncertainty over new U.S. Tariffs that are set to go into effect next week. The S&P/TSX Composite Index of the Toronto Stock Exchange was down by 0.2% to 25,294.11. In the previous session, the benchmark index closed at its highest level for a month. The markets rallied two days in a row after U.S. president Donald Trump suggested on Monday that some trade levies will not be implemented by April 2, with certain countries being exempted, though...

Mark Carney, the Canadian Prime Minister, said on Wednesday that if the Liberals win the April 28th election his government will create a C$2 Billion ($1.40 Billion) fund to increase the competitiveness of the auto industry. Carney said, in a televised news conference held in Windsor, Ontario that his government will work with the industry to produce more auto parts in Canada, and to limit the number of car parts that cross over the border to the United States. The North American automotive industry is highly integrated, but is now threatened by the tariffs that U.S. president Donald Trump has...

The Panama Ministry of Commerce and Industry announced in a Tuesday statement that the mine has been closed by First Quantum. The ministry stated that "any entry by third parties into those facilities was managed unilaterally and without participation or endorsement from the National Government" Minister Julio Molto shared the statement on X and said that Panama is "in process of contracting a thorough audit which aims to objectively and technically evaluate the current status of operations and the impact they have on the environment." First Quantum, the company that owns the Cobre Panama mine, announced on Monday it would...

Maros Séfcovic, the European Union's Trade Commissioner, was scheduled to meet with Donald Trump's top officials in charge of trade on Tuesday. The goal is to avoid U.S. tariffs that could be imposed on EU products as soon as next week. Sefcovic has had two prior discussions with U.S. trade representative Jamieson Greer and Commerce Secretary Howard Lutnick that have not altered Trump's plans for raising U.S. tariffs to match those charged by major trading partners, and to counter their non-tariff barriers. The USTR and Washington's EU delegation office did not immediately comment on the discussion. The meetings take place...