All posts tagged: Collections: Business

Prime Minister Mark Carney Says US Is Trying to Break Canada as Alberta Votes on Separation Path

Prime Minister Mark Carney Says US Is Trying to Break Canada as Alberta Votes on Separation Path

Published by Sam Flores

CALGARY, Alberta (AP) — Canadian Prime Minister Mark Carney warned Thursday that the United States is trying to break Canada so it can “own us” as he urged oil-rich Alberta not to begin a process toward separation in Monday’s referendum. The vote is not a direct referendum on independence. Alberta, which has the world’s fourth-largest proven oil reserves, will decide whether to remain a province or instruct the government to begin the legal process toward a future referendum on separation. “This referendum comes at the worst possible time,” Carney told a large pro-Canada rally in Calgary. “The world has become more dangerous and divided. Some outside our borders are working to break us so they can own us.” He did not directly mention the U.S. or its President Donald Trump in that passage, but has done so in similar past speeches. Carney’s warning came as U.S. President Donald Trump wages a trade war with Canada and after his repeated threats to make Canada the 51st U.S. state. Carney has argued that Canada needs to become …

Fed’s Cook Lawyers Say Hearing Will Show No Mortgage Fraud Case

Fed’s Cook Lawyers Say Hearing Will Show No Mortgage Fraud Case

Published by Sam Flores

Oct 9 (Reuters) – Lawyers ⁠for ⁠Federal Reserve ⁠Governor Lisa Cook said ​on Friday that if ‌a planned White House ‌hearing on ⁠allegations ⁠against her is “anything close to objective,” it ​will demonstrate that Cook did not commit mortgage ​fraud and will leave no ⁠case to ⁠remove her. “We ⁠have engaged ​with the White House to ​evaluate ⁠whether the process proposed has a possibility of being a genuine ⁠one and not simply a box checking ⁠exercise,” lawyers Abbe Lowell and Norm Eisen said in a statement. “Governor Cook welcomes the opportunity to present the facts so she can clear ⁠her name and demonstrate there is no legal basis to fire her.”  (Reporting by ​Ann Saphir; Editing by ​Mark Porter) Copyright 2026 Thomson Reuters. Source link

EU and China Strike Interim Trade Deal That Could Cut Chinese Hybrid Exports, EU Envoy Says

EU and China Strike Interim Trade Deal That Could Cut Chinese Hybrid Exports, EU Envoy Says

Published by Sam Flores

HONG KONG (AP) — The top trade envoys for China and the European Union agreed Friday on a broad initial agreement following two days of talks aimed at calming escalating tensions over trade imbalances, the EU trade commissioner said Friday. Neither side provided clear details on the preliminary deal, but European Commissioner for Trade Maros Sefcovic said it includes lower tariffs for some European goods to China as well as measures to stabilize rare earth supply chains. The EU trade envoy said the deal could cut up to 50% of Chinese electric and plug-in hybrid vehicle imports to the EU and could lower tariffs on products benefitting “almost every” EU nation. The agreement would require agreement from leaders across the 27-nation EU. The two sides were seeking to resolve key factors behind China’s growing trade surplus, which hit 360 billion euros ($410 billion) last year. China has been pushing for the EU to stop blocking its imports of advanced computer chipmaking machines, restrictions imposed on national security grounds at Washington’s behest. Earlier, Sefcovic had said …

G7 Nations Will Release 100 Million Barrels of Oil and Diesel Fuel After Prices Soar

G7 Nations Will Release 100 Million Barrels of Oil and Diesel Fuel After Prices Soar

Published by Sam Flores

WASHINGTON (AP) — The Group of Seven wealthy democracies said Friday that they plan to release 100 million barrels of oil and fuel products in the coming weeks, starting with “substantial” amounts of diesel after the fuel recently hit record high prices in the United States. President Donald Trump said the diesel release would happen “immediately,” echoing a G7 promise to start “immediately” with a “frontloaded substantial release” of diesel within the next 20 days and the rest over four months. Trump and his Republican Party face pressure to address surging prices ahead of the Nov. 3 midterm elections, and Trump announced the action Friday on social media. The president’s approval ratings on the economy hit a new low, according to an AP-NORC poll, as the Iran war and his trade battles have increased U.S. prices for oil and other goods. Gas prices in the U.S. and abroad have soared during the eight-month-long war, a cost Trump has repeatedly said is worth it for making sure Iran does not obtain nuclear weapons. The national average …

Amazon to Invest B Into Data Center Communities Amid Backlash Against Data Center Rollouts

Amazon to Invest $1B Into Data Center Communities Amid Backlash Against Data Center Rollouts

Published by Sam Flores

NEW YORK (AP) — Amazon is investing more than $1 billion over the next five years into communities where it operates data centers for education, job training, water and energy preservation projects and other local priorities as it reacts to a growing backlash from politicians and consumers to the tech industry’s rollout of the massive buildings. According to a blog post on Friday by Matt Garman, Amazon’s CEO of its cloud computing arm, Amazon has already spent more than $1 billion in communities with a large data center presence over the past three years. Garman also said that Amazon is no longer using nondisclosure agreements with government agencies it works with on its projects, and it said it hosts open houses in communities where it operates to share information about what it’s doing. He also warned against the spread of what he believes is misinformation about data centers’ impact on the environment and energy rates — and he cited the dangers of over 100 moratoriums against these centers being considered across the country. “If these …

Senate Approves Trump’s Pick to Lead the Labor Department

Senate Approves Trump’s Pick to Lead the Labor Department

Published by Sam Flores

WASHINGTON (AP) — The Senate confirmed President Donald Trump’s pick to lead the Department of Labor on Wednesday just before heading home to campaign for the midterm elections. Keith Sonderling, who was confirmed 47-41, has been the acting secretary since April and has served in multiple roles within the department over the course of his career. He was picked for the job after the White House announced that Lori Chavez-DeRemer would be leaving her post to take a job in the private sector. Her exit followed multiple allegations that she had abused the power of her position. Sonderling was a senior advisor in the department during Trump’s first term and later served as a Republican member of the Equal Employment Opportunity Commission. He also taught about the laws the department enforces as an adjunct professor at George Washington University. He returned to the department in Trump’s second term and was confirmed as deputy secretary in March of last year. Sen. Bill Cassidy, R-La., said it was clear Sonderling was qualified for the position when the …

Trump Unveils Billion in South Korean Investment in Alaska, Site of a Tight Senate Race

Trump Unveils $54 Billion in South Korean Investment in Alaska, Site of a Tight Senate Race

Published by Sam Flores

It marks the second time in three days that the president has sought to highlight the promise of foreign investment made possible by his administration’s trade policy in states where Republican Senate candidates are in tight election campaigns. “He’s got my ear, and he’s had my ear for a long time on Alaska,” Trump said during an Oval Office event with Sullivan. The president added that “all these energy projects are all mine, and I got ’em done working with Dan Sullivan.” It was not clear how quickly South Korea’s government would approve the project and how much it planned to spend. The investment comes from pledges made as part of a 2025 trade deal with South Korea, which included promises of $350 billion in U.S. investments in exchange for lower U.S. tariffs on South Korean cars, auto parts and other products. Without providing those details, Trump credited his tariffs for making the announcement possible, saying “our trade agreement with South Korea, they have to invest hundreds of billions of dollars.” “For doing that, I …

This Year’s MacArthur ‘Geniuses’ Include a Musician, Painter and Economist All Confronting History

This Year’s MacArthur ‘Geniuses’ Include a Musician, Painter and Economist All Confronting History

Published by Sam Flores

NEW YORK (AP) — Immanuel Wilkins was riding the Amtrak from New York to Philadelphia when he got a call from the John D. and Catherine T. MacArthur Foundation. But he said he had to wait to deboard the train to find out if it was life-changing news or not. The Brooklyn-based saxophonist, bandleader and composer hesitated to believe they were calling to say he was part of their prestigious fellows class. He spent the last 15 minutes of his ride convincing himself they only wanted his recommendations. “I was just outside,” said Wilkins, 29, when he finally confirmed it was the former. “Which was nice because then I could yell as loud as I wanted to and celebrate.” The foundation unveiled its 2026 fellows class on Tuesday: 20 individuals ranging in discipline from the performing arts to the social sciences, separated in age by four decades and spread across three continents. They will each receive $800,000 over the next five years in recognition of their “exceptional creativity.” Commonly referred to as “genius grants,” the …

Meta Bets Big on Wearable AI, New AI Agent as Zuckerberg Pushes Back Against AI Doom

Meta Bets Big on Wearable AI, New AI Agent as Zuckerberg Pushes Back Against AI Doom

Published by Sam Flores

Meta is going all in on a consumer-friendly AI agent and pushing forward with AI-powered wearable devices during a moment in the industry when its CEO Mark Zuckerberg acknowledged it is a “wild time to be building.” At the company’s annual Connect conference on Wednesday, Zuckerberg opened his keynote address by saying “it’s no secret that people in the industry have a wide range of views about how the future is going to go.” But at Meta, he said, “we are optimists because we believe in people.” “We believe that the best way to create a positive future for everyone is to put power in people’s hands,” he said at the conference. “We believe that empowering people is the source of prosperity in the world, that the highest purpose of superintelligence is creation and invention — not automation — and that the path to a safe future is to distribute this technology widely and create the right checks and balances, rather than concentrating it in the hands of just a few.” Zuckerberg has long said …

DoorDash to Pay 1M for Underpaying Delivery Workers in New York City

DoorDash to Pay $131M for Underpaying Delivery Workers in New York City

Published by Sam Flores

NEW YORK (AP) — DoorDash will pay $131.5 million to settle claims that it underpaid delivery workers in New York City, Mayor Zohran Mamdani announced Tuesday. The agreement, which officials descibed as the largest worker settlement in city history, also requires the company to submit to a new monitoring system to ensure compliance with delivery worker pay laws in the city. In a statement, DoorDash admitted errors, saying: “Simply put, we screwed up.” “While these mistakes weren’t intentional, that doesn’t make them okay. We pride ourselves on operational excellence at DoorDash – and this was not excellent, nor was it acceptable. Dashers should be paid in full, on time, every time. We are sorry to the Dashers we let down,” the company said. Most of the settlement will be returned to more than 260,000 workers who were underpaid, not paid or paid late for deliveries by DoorDash, according to City Hall. The company will also pay about $16 million in civil penalties and other costs to the city. “When a worker earns a wage, they …