United States

The government removed the consumer carbon tax that was in place since 2019 on Tuesday, resulting in a sharp drop of gasoline prices across Canada. Mark Carney, Canada's new Prime Minister, signed an order removing the Justin Trudeau era consumer carbon taxes on his first official day in office. He declared that the decision will help Canadians who are struggling to make ends meet. The Conservatives had been campaigning against the tax for years. GasBuddy, a fuel market tracker, reported that fuel prices in eight provinces fell by more than six cents a litre after taxation was officially ended on...

Energy Information Administration of the United States reported on Wednesday that the U.S. produced a greater amount of uranium concentrat, which is used as fuel for nuclear reactors, during the final three months in 2024 than in any other quarter over the past six years. The EIA reported that the increase in output was due to higher uranium prices and the restart of production at White Mesa Mill, the only uranium-producing mill in the United States. Why it's important Data centers, onshored production and electrification in buildings and transportation have all contributed to the rise of electricity demand in the...

The Russian central bank warned on Wednesday that U.S. tariff increases could slow world economic growth, fuel inflation and cause oil prices to be lower than expected for several years due to reduced global demand. On Wednesday, President Donald Trump announced "Liberation Day", a day of celebration in the United States. This would escalate a trade conflict with other countries, increase costs and threaten a decades-old trading order. The Russian regulator warned that "the increase in import duty in the USA, and the retaliatory actions by other countries, have increased the risks of a slowerdown in global growth and an...

The Dutch and British gas price fell on Wednesday morning, as the warmer weather forecasts reduced demand. Meanwhile, the market closely monitors Trump's "Liberation Day tariff plan". LSEG data shows that the Dutch front-month contract fell by 0.54 euros to 42.13 Euro per megawatt hour or $13.34/mmBtu at 0811 GMT. The Dutch day-ahead contracts was down by 0.72 euros at 41.95 Euro/MWh. The British day-ahead contracts was down 0.85 cents at 101.75p/therm. On Wednesday, U.S. president Donald Trump was ready to impose tariffs on all global trading partners. He would likely increase costs and invite retaliation. "Today's market could be...

EnerSys, a provider of energy services, announced on Tuesday that it will close its lead-acid manufacturing plant in Mexico due to flooding and move production to a US facility. The announcement coincides with the preparations of U.S. president Donald Trump to impose reciprocal duties on countries that impose tariffs on U.S. products, beginning on April 2, a day he has called "Liberation Day". A pre-tax charge in the amount of $20 million would be incurred in the first half 2025 due to the closure of the Monterrey plant in Mexico, and the subsequent transfer of production from that facility to...

Mary Robinson, former president of Ireland, said on Tuesday that a group of former leaders from around the world are urging Europe not to let trade wars or defence spending divert attention away from climate change issues. The Elders, the group created by Nelson Mandela as former South African president, will meet with EU and NATO in late this month to discuss ways to soften upcoming corporate climate disclosure regulations to address concerns about competitiveness. Robinson, Ireland's former president from 1990-97, said that she was concerned about the plans, but that the bloc has an opportunity to seize the leadership...

Barclays data shows that corporate agitators targeted more companies worldwide in the first quarter to increase pressure on them to improve their performance. The majority of these demands were directed towards U.S.-based corporations. Activist investors, such as Elliott Investment Management and Mantle Ridge, pushed companies like oil giant BP and rideshare company Lyft to make changes in the first quarter. The number of global campaigns grew by 17% and reached 70. The data revealed that the number of U.S. campaigns increased by 46%, to 41. Jim Rossman is the global head of shareholder advice at Barclays. He said: "Activists continue...

The plan of convenience store giants Couche-Tard & Seven & i to sell thousands of stores in North America, to reduce regulatory concerns before a possible merger, is being tested by rival bidders. According to several antitrust experts and people who are familiar with the situation, it is likely that the two store operators will struggle to attract offers from other convenience stores chains. They may be wary about their own antitrust risks from a potential deal. Seven & i is the owner of the 7-Eleven chain, which operates more than 12,000 convenience stores in the U.S. Sources said that...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Chevron agreed to sell 70% of its East Texas Gas assets to TG Natural Resources for $525 Million as part its strategy to optimize the portfolio. Meta executives have asked U.S. officials in charge of trade to take action against a fine that is expected from the European Union and a cease-and-desist letter. SoftBank Group agreed to fund a for profit subsidiary of OpenAI with up to 40 billion dollars, which values the ChatGPT maker to $300...

Sources familiar with the plant's operations on Monday said that a fluidic catalytic cracked (FCC) in Motiva Enterprises refinery Port Arthur, Texas is expected to be closed for at least two weeks following a second failed restart attempt last weekend. On January 21, the unit called FCC3 and an alkylation was shut down for a planned two-month overhaul. FCCs transform gas oil into unfinished fuel, while alkylation systems convert refinery byproducts into components that are typically added to gasoline. Motiva didn't immediately respond to a comment request. Sources said that the second attempt to restart FCC3, which is capable of...

Analysts and traders claim that gold stocks in Comex storage facilities are likely to reach new records within the next few days, due to the possibility of tariffs preventing shipments from other countries to the United States. According to the latest data from Comex (part of CME group), gold in US warehouses has reached a record high of 43.3 millions troy ounces, worth $135 billion, compared with 17.1 in November, when Donald Trump became U.S. president. On Monday, spot gold prices soared to new highs of $3,100 an ounce. Bullion prices are up 19% this year, after a 27% increase...

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...

On Wednesday, the Trump administration announced that it would impose a 25% duty on all beer imports. The beverage and empty aluminum aluminum cans will be added to a list containing derivative products which are subject to aluminum tariffs. In a Federal Register announcement, the Commerce Department stated that duties on beer will be collected at 12:01 am EDT Friday, April 4, starting with empty aluminum cans. The notice reversing Trump's previous aluminum tariff changes only lists the tariff code for malted beer. The notice does not mention a subordinate tariff code for beer imported in glass bottles. The Commerce...

Unknown advisor to the U.S. International Development Finance Corporation is opposing a plan of President Donald Trump that would use it to increase domestic investment in mining production. Why it's Important: DFC is one of the world's leading sources of development financing. It has more than 50 billion dollars in portfolios of projects ranging from critical infrastructure to food, energy and health. Over 70% of this funding goes to low- and lower middle-income countries. Experts in development are worried that Trump's executive order of March 20, which invoked emergency power to boost domestic production of critical minerals and named DFC...

Analysts at JPMorgan estimate that more than a third (35%) of emerging market firms will be "significantly" affected by U.S. tariffs once they are implemented. Taking into account the possibility that Chinese and Mexican companies would be hard hit, they estimated that 36 percent of the over 750 firms in the closely watched CEMBI EM Corporate Debt Index by the bank would fall under this bracket. In that bracket, 16% of companies could experience a "significant impact". The 36% figure was described as "not negligible" by the analysts, although they did point out that over half of the companies in...

According to a Wednesday decree, Russian President Vladimir Putin authorized Armenian investment firm Balchug Capital, to purchase shares held by Goldman Sachs Russian subsidiary, in nine major Russian companies, mainly in the energy sector. Balchug Capital, Goldman Sachs and other companies did not respond immediately to our requests for comments. Balchug Capital is The green light According to a separate order, the U.S. Bank will purchase Goldman Sachs’ subsidiary in Russia by January. This will allow the bank to exit the Russian market, and to extract some of the capital that is stuck there. Since the beginning of the Ukraine...

The gold price continued to rise on Wednesday after hitting a new record in the previous session. Investors sought comfort in the metal as they waited for the impact of U.S. tariffs. As of 0240 GMT, spot gold was up 0.7% to $3,131.25 per ounce. Bullion reached a record high of $3148.88 Tuesday. U.S. Gold Futures increased 0.4% to $3.159.90. The main reason behind these consecutive record highs is safe-haven purchasing, and the geopolitical uncertainties that underpin this show no signs of abating," said Philip Newman. Newman stated that a U.S. slowdown in economic growth, a potential increase in inflation...

Lithium Americas announced on Tuesday that it had reached a Final Investment Decision (FID) to construct the first phase for the Thacker Pass Lithium Mine in Nevada. Thacker Pass is a joint project between Lithium Americas, a subsidiary of General Motors in the United States. The first phase of the project should be completed by late 2027. Jonathan Evans, CEO of Lithium Americas, said: "Together we will develop an American-produced lithium supply to reduce American dependency on foreign suppliers for essential minerals." Lithium Americas of Vancouver and General Motors have both contributed $192 million in cash each to the JV....

Parks Tau, South Africa's Trade Minister, said that the country will request a meeting with U.S. officials to discuss auto tariffs. The levies are of concern, he added, as South Africa enjoys preferential trading status with the United States. South Africa's exports of parts and vehicles to the United States are estimated at more than $2 billion. A planned 25% tariff on automobile imports announced last week by U.S. president Donald Trump could have a serious impact. Tau stated in a press release that the U.S. The Section 232 Tariffs will be applied to the imports of automobiles and auto...

London copper prices rose Tuesday, recovering from a 2-week-low hit the day before, as positive Chinese data overshadowed concerns about a possible global trade war caused by Trump's impending tariffs. The Caixin/S&P Global Manufacturing PMI rose to 51.2 from 50.8 in Feburary, driven by strong export orders and increased demand, reflecting manufacturing growth despite the potential threats of an escalating U.S. Trade War. As of 0711 GMT the benchmark three-month price for copper on London Metal Exchange (LME), had increased 0.7% to $9781.5 per metric tonne, recovering from Monday's 2-week low. Trump announced on Sunday that he will introduce reciprocal...

Elon Musk’s electric car brand's first quarter sales in France have been the lowest since 2021, according to data released on Tuesday. Tesla's sales have been in decline ahead of its much-anticipated Model Y midsize SUV launch. The billionaire CEO is a close ally to U.S. president Donald Trump and has courted far-right parties across Europe. Data from the French auto body PFA revealed that Tesla sold 3,157 cars in France in March, a drop of 36.83% from last year. This equates to 6,693 registrations for the first quarter. The PFA's share of the country's market dropped to 1.63% for...

The gold price reached a new record high on Tuesday as investors sought safe havens amid fears that President Donald Trump’s tariffs could fuel inflationary pressures or impede the economy. As of 0310 GMT spot gold was up 0.6% to $3,142.83 per ounce after reaching an all-time session high of $3145.38. U.S. Gold Futures increased 0.7% to $3171.80. The previous session saw bullion record its strongest quarter in precious metals' history, with one of the biggest upswings ever. "The anticipation of April 2 U.S. mutual tariffs has led the market participants to take a defensive stance. Some de-risk and turn...

Since returning to office in January, Donald Trump has issued numerous tariff threats. These range from a duty on all imports to a targeted tariff on certain sectors or countries. Trump's threats changed over time. This left other nations and business unclear as to what was next. It also created uncertainty for consumers and triggered a recent stock-market selloff. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual roll-out of tariffs that will apply to all U.S. imported goods. Last month, Trump asked his team of economists to...

Gold prices have soared above $3,100 an ounce, marking the largest rally in precious metal history. Psychological levels were swept away by a cocktail factors, including concern about the fallout of impending U.S. Tariffs. On Monday, spot gold reached a new record price of $3128.06 an ounce. Gold prices rose due to uncertainty surrounding U.S. president Donald Trump's tariffs, as well as strong demand from central bankers, the expectation of an interest rate cut by the Federal Reserve and geopolitical unrest in the Middle East and Europe. Bullion will record its largest quarterly increase since September 1986. It has already...