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TSX Slumps as Central Banks Hold Steady

  Canada’s Main Index Suffers Sharpest Drop Since May The Toronto Stock Exchange’s S&P/TSX composite index fell 169.92 points, or 0.6%, to close at 27,369.96 on Wednesday, marking its steepest single-day decline in ten weeks. The drop followed a record high the previous day, underscoring investor unease as both the U.S. Federal Reserve and the Bank of Canada opted to keep interest rates unchanged. The materials sector led the retreat, sliding 2.1% amid tumbling copper and gold prices. Financials and technology also posted losses, down 0.6% and 0.5% respectively, as eight of the index’s ten major sectors ended in the red. Market sentiment soured after the Fed’s decision to hold rates steady offered no clear timeline for future cuts, disappointing investors hoping for dovish signals. Meanwhile, the Bank of Canada maintained its benchmark rate at 2.75% for the third consecutive meeting, citing reduced risks of a global trade war. Among individual stocks, Capital Power Corp sa...
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Trump Family Unveils Trump Mobile: A New Wireless Venture with a $499 Smartphone

The Trump Organization has entered the mobile phone market with the launch of Trump Mobile, a new wireless service that carries the former president’s name. Announced at Trump Tower in Manhattan, the venture includes a $499 gold-colored smartphone and a monthly subscription plan priced at $47.45, a nod to Donald Trump’s presidency as the 45th and now 47th U.S. president.  

The service will operate using the networks of major U.S. carriers and promises additional perks such as telemedicine access, roadside assistance, and unlimited international texting. While the Trump family has emphasized that the phone will be designed and built in the United States, details on its manufacturing partner remain undisclosed. 

Eric Trump suggested that initial deliveries of the phone may not be U.S.-made but expressed hopes for future domestic production. The announcement comes amid ongoing scrutiny of the Trump family's business ventures, with critics raising concerns about potential conflicts of interest.  

Despite these concerns, the Trump family remains confident that Trump Mobile will resonate with consumers seeking a wireless service that aligns with their values. The company’s website showcases a sleek smartphone featuring an etched American flag, reinforcing its branding as an "all-American" product. 

With the mobile industry already highly competitive, it remains to be seen how Trump Mobile will fare against established players. However, given the Trump brand’s loyal following, the venture is expected to attract significant attention.

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