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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 Seeks Arctic Edge with $8.6B Coast Guard Icebreaker Boost

In a bid to strengthen the United States’ strategic presence in the Arctic, former President Donald Trump has backed legislation proposing $8.6 billion to modernize and expand the U.S. Coast Guard’s icebreaking fleet. The move is framed as a critical investment in national security and economic opportunity as melting polar ice opens new shipping lanes and resource-rich territories.

The proposed funding would support the construction of multiple advanced heavy icebreakers, enabling the U.S. to catch up with nations like Russia and China that have rapidly expanded their polar capabilities. The bill emphasizes shipbuilding efforts in American yards, promising job creation and bolstered industrial capacity.

Supporters argue the initiative is essential to protecting U.S. interests in a region growing in geopolitical significance. Critics, however, caution against environmental consequences and question whether military infrastructure is the best response to Arctic challenges.

Whether this bill becomes law or not, it highlights a growing consensus: the Arctic’s future will be shaped not only by climate, but by who arrives first—and with how much steel beneath their feet.

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