Bloomberg
Canada’s Trans Mountain Project Seen Spelling Trouble for OPEC Member Iraq
(Bloomberg) — Canada’s newest oil pipeline may spell trouble for a Middle Eastern country almost 7,000 miles away: Iraq.Most Read from BloombergIran’s Attack on Israel Sparks Race to Avert a Full-Blown WarIsrael Versus Iran — What All-Out War Could Look LikeApple Faces Worst iPhone Slump Since Covid as Rivals RiseS&P 500 Breaks Below 5,100 as Big Tech Sells Off: Markets WrapBeyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROIThe Trans Mountain pipeline’s expansion, wh
CBC
Patients paying surgeries covered by provincial health plans
Health-care advocates say patients are unnecessarily paying thousands to private medical clinics for procedures covered by provincial insurance plans. They say many patients are falling for doctors engaging in ‘predatory upselling’ of services.
Yahoo Finance Video
Trump Media stock plunges after sharing live streaming plans
Trump Media & Technology Group (DJT) shares have declined by over 30% in the past week, its valuation also falling by $3 billion. The stock continued to tumble lower in Tuesday’s trading session, closing the day 14% lower. Yahoo Finance monitors the media company’s losses ahead of the closing bell, noting its plans to roll out a live TV streaming platform on Truth Social while former President Trump’s criminal trial centered around hush money payments enter into its jury selection process. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written and updated by Luke Carberry Mogan.
- Reuters
China lifts ban on some German beef imports as Germany’s Scholz visits Beijing
China has lifted mad cow disease-related bans on some German beef imports, Chinese customs authorities said on Tuesday, after German Chancellor Olaf Scholz pressed Chinese counterparts for better market access in a visit to Beijing. The easing applies to de-boned beef from calves under 30 months imported from Germany, China’s General Administration of Customs said in a Wechat post.
Bloomberg
Apple Faces Worst iPhone Slump Since Covid as Rivals Rise
(Bloomberg) — Apple Inc.’s iPhone shipments slid a worse-than-projected nearly 10% in the quarter ended in March, reflecting flagging sales in China despite a broader smartphone industry rebound.Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingChina Tells Iran Cooperation Will Last After Attack on IsraelWhat If Fed Rate Hikes Are Actually Sparking US Economic Boom?Powell Signals Rate-Cut Delay After Run of Inflation SurprisesRed Lobster Considers Bankruptcy to
Reuters
US sanctions impacting Sovcomflot’s ability to trade, CEO of Russian tanker group says
U.S. sanctions are limiting tanker activity for Russia’s top shipping group, Sovcomflot, the company’s head said on Tuesday, as Washington tightens the screws on Moscow. The U.S. imposed sanctions on Sovcomflot on Feb. 23 as Washington seeks to reduce Russia’s revenues from oil sales that it can use to support its military actions in Ukraine.
Bloomberg
India’s Reliance Tries to Sell US Oil as Russian Flows Gain
(Bloomberg) — Sign up for theIndia Edition newsletter by Menaka Doshi – an insider’s guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.Most Read from BloombergBeyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROIChina Tells Iran Cooperation Will Last After Attack on IsraelUS Two-Year Yield Eyes 5% Before Powell’s Remarks: Markets WrapIMF Steps Up Its Warning to US Over Spending and Ballooning DebtIran’s Con
- Reuters
Natural gas needed in California’s clean energy transition, Edison International CEO says
Natural gas will still be needed for electricity generation in California’s clean energy transition, Edison International chief Pedro Pizarro said on Tuesday at an industry conference. Natural gas is the cheapest and most reliable power generating source in the most populous U.S. state, said Pizarro. Edison International is the parent company of electric utility Southern California Edison.
Reuters
ASML Q1 bookings miss forecast, but China sales hold up
AMSTERDAM (Reuters) -ASML, the largest supplier of equipment to computer chip makers, reported weaker than expected first-quarter new bookings on Wednesday, although sales to China held up despite U.S.-led restrictions. For 2024, ASML kept its financial forecasts unchanged, with sales seen flat from 2023’s 27.6 billion euros ($29.3 billion). ASML dominates the market for lithography systems, machines that can cost hundreds millions of euros each and use light beams to help create microscopic circuitry.
Bloomberg
Iron Ore Seen Revisiting $100 as China’s Housing Woes Worsen
(Bloomberg) — Iron ore is likely to revisit $100 a ton by the end of the year before falling further to $85 in 2025 as China’s housing market collapse worsens, according to Capital Economics Ltd.Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingWhat If Fed Rate Hikes Are Actually Sparking US Economic Boom?China Tells Iran Cooperation Will Last After Attack on IsraelPowell Signals Rate-Cut Delay After Run of Inflation SurprisesRed Lobster Considers Bankruptcy to
Bloomberg
Metals Whipsawed as Sanctions on New Russian Supplies Rattle LME
(Bloomberg) — Metals swung sharply, with aluminum surging by a record before later erasing most of its gains, as traders digest US and UK sanctions that banned delivery of new Russian supplies onto the London Metal Exchange.Most Read from BloombergIran’s Attack on Israel Sparks Race to Avert a Full-Blown WarIsrael Versus Iran — What All-Out War Could Look LikeS&P 500 Breaks Below 5,100 as Big Tech Sells Off: Markets WrapApple Faces Worst iPhone Slump Since Covid as Rivals RiseBeyond the Ivies:
Global News
Opioids behind growing number of deaths across Canada
New research has found opioids were behind a quarter of deaths among people in their 20s and 30s in 2021. It’s an alarming trend, but experts say it doesn’t come as a surprise. Health reporter Katherine Ward explains.
Reuters
China’s Chery to open its first European manufacturing site in Spain
BARCELONA (Reuters) -China’s Chery Auto has signed a joint venture deal with Spain’s EV Motors to produce cars at its first factory in Europe, EV Motors and the Catalan regional government said on Tuesday. Chery, the junior partner in the joint venture, will start producing its Omoda vehicles at the plant first, while majority stakeholder EV Motors will start producing its own vehicles in the fourth quarter, the Spanish company said.
Bloomberg
Cocoa Notches Another Record as West African Supply Woes Persist
(Bloomberg) — Cocoa futures rose as much as 2.7% to a fresh intraday record of $10,760 a ton in New York, with little relief in sight for strained global supplies.Most Read from BloombergIran’s Attack on Israel Sparks Race to Avert a Full-Blown WarIsrael Versus Iran — What All-Out War Could Look LikeS&P 500 Breaks Below 5,100 as Big Tech Sells Off: Markets WrapApple Faces Worst iPhone Slump Since Covid as Rivals RiseBeyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROI
Bloomberg
Five Key Charts to Watch in Global Commodities This Week
(Bloomberg) — The metals world is monitoring the impact of the London Metal Exchange’s banning of new Russian supplies including aluminum, while one of the biggest gatherings for the copper industry — Cesco Week and CRU’s World Copper Conference — kicks off in Santiago. Meanwhile, the annual BNEF Summit will convene in New York, bringing together project developers, government officials and bankers to discuss global trends in the energy transition.Most Read from BloombergIran’s Attack on Israel
- Reuters
UPDATE 2-Morgan Stanley cuts dozens of investment banking jobs in Asia-Pacific, sources say
Morgan Stanley is cutting at least 50 investment banking jobs in Asia Pacific, three sources said, becoming the latest among global banks to scale back operations in the region mainly due to a slump in China markets. The layoffs affect around 13% of the Wall Street bank’s Asia investment banking workforce of 400 in the region, according to one of the sources. Bankers based in Hong Kong and mainland China are going to be affected the most, they said.
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Contents
Canada’s Trans Mountain Project Seen Spelling Trouble for OPEC Member IraqPatients paying surgeries covered by provincial health plansTrump Media stock plunges after sharing live streaming plansChina lifts ban on some German beef imports as Germany’s Scholz visits BeijingApple Faces Worst iPhone Slump Since Covid as Rivals RiseUS sanctions impacting Sovcomflot’s ability to trade, CEO of Russian tanker group saysIndia’s Reliance Tries to Sell US Oil as Russian Flows GainNatural gas needed in California’s clean energy transition, Edison International CEO saysASML Q1 bookings miss forecast, but China sales hold upIron Ore Seen Revisiting $100 as China’s Housing Woes WorsenMetals Whipsawed as Sanctions on New Russian Supplies Rattle LMEOpioids behind growing number of deaths across CanadaChina’s Chery to open its first European manufacturing site in SpainCocoa Notches Another Record as West African Supply Woes PersistFive Key Charts to Watch in Global Commodities This WeekUPDATE 2-Morgan Stanley cuts dozens of investment banking jobs in Asia-Pacific, sources say
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