2025-10-25 10:04

Ontario premier to pause US ad campaign after talks with Carney Ford has populist style similar to Trump Carney faces challenge to resume trade talks amid tensions Ford's ad uses Reagan's anti-tariff stance to target US audiences OTTAWA, Oct 25 (Reuters) - The premier of Canada’s most populous province has again complicated the country’s delicate trade negotiations with the U.S., this time with a political ad targeting Americans that has drawn the ire of U.S. President Donald Trump. The ad, commissioned by Doug Ford, Ontario's outspoken Conservative premier who is sometimes compared to Trump, uses a snippet of Republican icon and former President Ronald Reagan saying that tariffs cause trade wars and economic disaster. Sign up here. On Saturday, Trump announced that he was increasing tariffs on goods from Canada by an additional 10% "above what they're paying now," in response to the ad. "Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD," Trump posted on Truth Social, describing the ad as a "misrepresentation of facts." On Thursday, Washington halted trade talks with Canada over Ontario's decision to air the ad. Prime Minister Mark Carney, unlike Ford, has sought to lower the temperature with Trump since taking office in March and had hoped for a deal to eliminate U.S. tariffs on Canadian steel and aluminum imports. In March, Ford, who often sports a "Canada is not for sale" hat, threatened to implement a surcharge on energy going to several American states if the U.S. moved ahead with tariffs on steel and aluminum. Ford later relented, and the White House claimed victory, saying he had “Backed down.” Ford said in a statement on Friday that after discussions with Carney, Ontario would pause the U.S. advertising campaign on Monday so that trade talks could resume. But the disputed commercial will continue to air this weekend as the Toronto Blue Jays play in the first two games of the World Series, he added. The first game was played on Friday night. Ford said the message has reached U.S. audiences "at the highest levels." ATTACK-DOG APPROACH Some analysts suggested that Ford’s ad was only a pretext for Trump’s outburst. “Mr. Trump doesn’t like to be confronted with the truth,” said Asa McKercher, an expert in U.S.-Canada politics at St. Francis Xavier University in Canada. He said the ad was an accurate representation of Reagan’s views. Trump first saw the ad earlier in the week and said on Tuesday, "If I was Canada, I'd take that same ad also." McKercher said Ford has often used his aggressive and populist style to appeal to American audiences in appearances on conservative-leaning outlets like Fox News, but that his latest ad may have misfired. The Canadian dollar weakened after Trump broke off trade talks, and Ontario is the province most impacted by auto and steel tariffs. “When you use Ford’s attack-dog approach, there’s always a risk that you’re going to get smacked,” McKercher said, adding it would be Carney who might need to make concessions to get Trump back to trade negotiations. Still, Ford's approach attracted some unusual support from politicians on the other side of the political spectrum. Manitoba Premier Wab Kinew, who heads the left-leaning New Democratic Party in the province, posted a message for his "good friend Doug Ford," calling on him to keep running the ads. Green Party leader Elizabeth May cheered "Go Doug Ford!" as she arrived at Parliament in Ottawa on Friday. Pollster Shachi Kurl, president of the Angus Reid Institute, said Ford has acted "as the more pugilistic foil" when the prime minister has adopted a more conciliatory approach to Trump, noting that "it's not a stance that generally hurts him (Ford)." In February, Ford handily won a rare third term as Ontario premier. Earlier this month, Ford said he confronted and threatened to beat up a suspected shoplifter at a Home Depot store, telling an audience at a Toronto club, “Screw this, I’m going after this guy.” CLEARLY RESONATING Trump previously called off trade talks with Canada in June, citing his objection to Canada’s digital services tax. Carney rescinded the tax later that month. Under previous Prime Minister Justin Trudeau, Trump threatened numerous times to walk away from trade talks between Canada, Mexico and the U.S. Laura Stephenson, chair of political science at Ontario’s Western University, said Carney does not have many good options, but that the situation is fixable. “Ford can play the bad guy and Carney will have to be the level-headed guy trying to keep discussions on track,” she said. Diamond Isinger, a former U.S.-Canada adviser to Trudeau, said Ford’s ad clearly resonated with American audiences. “If the ad wasn’t effective, Trump would not be so deeply concerned about it,” she said. https://www.reuters.com/business/media-telecom/ontario-premier-provokes-trumps-ire-once-again-with-reagan-ad-2025-10-25/

2025-10-25 09:18

TBILISI, Oct 25 (Reuters) - Georgia's internal security service said on Saturday that it had arrested three Chinese citizens in the capital Tbilisi, for attempting to illegally purchase two kilograms of "nuclear material" uranium, Georgia's Interpress news agency reported. Interpress cited the deputy head of Georgia's State Security Service as saying the three detainees had been planning to buy the uranium for $400,000 and transport it to China, via Russia. The uranium was "nuclear material", it said, without elaborating on the motive for the planned purchase. Sign up here. It quoted the security official as saying that the detainees faced charges that could see them imprisoned for up to 10 years. The security of nuclear materials left over from the Soviet era was one of the biggest concerns after the 1991 fall of the Soviet Union, of which Georgia was a member. There have been several serious incidents involving the illicit trade in nuclear materials in Georgia over recent decades. In July, Georgia arrested one Georgian and one Turkish national, charged with the illegal purchase, possession and disposal of radioactive substances, which the national security service said could have been used to make a deadly bomb. https://www.reuters.com/world/china/georgia-arrests-three-chinese-nationals-trying-buy-uranium-illegally-local-media-2025-10-25/

2025-10-25 08:47

Oct 25 (Reuters) - The board of oilfield services provider Petrofac (PFC.L) , opens new tab has lined up Teneo to act as administrator, a move which could be triggered as early as Monday morning and imperil more than 2,000 jobs in Scotland, Sky News reported on Saturday. Petrofac's board, chaired by former Anglo American finance director Rene Medori, is holding emergency talks this weekend, Sky News said, without citing its sources. Sign up here. Petrofac did not immediately respond to Reuters' request for comments outside regular business hours. On Thursday, Petrofac said that it is in close and constant dialogue with key creditors and is actively pursuing alternative options. Earlier this month, Petrofac said its ongoing restructuring will leave existing shareholders with no residual value, as it moves to complete the process by the end of November. Petrofac is restructuring its finances under pressure from rising costs and delayed payments, a move that reflects wider challenges facing oilfield services firms in a volatile energy market. The company, which has operations around the world, develops and operates infrastructure for oil, gas, refining, petrochemicals, and renewable energy. https://www.reuters.com/business/energy/uks-petrofac-lines-up-administrator-sky-news-reports-2025-10-25/

2025-10-25 07:06

MILAN, Oct 25 (Reuters) - Ferrari (RACE.MI) , opens new tab is tapping into crypto markets and tech-rich youngsters with a planned new digital token that its wealthiest fans will be able to use in an auction for a Ferrari 499P, the endurance car that won three straight Le Mans titles. The plan for now is limited in scope and is an effort by the Italian sports car maker to tap into a trend among luxury brands seeking access to the growing wealth of younger tech entrepreneurs, as AI and data centres drive investment and markets around the world. Sign up here. It comes after Ferrari, which is also developing its first electric car, began accepting Bitcoin, ethereum and USDC for car purchases in the United States in 2023 and extended the service to Europe last year. Ferrari is working with Italian fintech Conio to launch the 'Token Ferrari 499P' for members of its Hyperclub — which groups 100 of its most exclusive clients, with a passion for endurance races - to trade amongst themselves and bid on the racing model. It is set to debut with the start of the 2027 World Endurance Championship season. "This is about strengthening the sense of belonging among our most loyal customers," Chief Marketing and Commercial Officer Enrico Galliera told Reuters. With prominent backers including U.S. President Donald Trump, crypto prices have surged, but regulators warn loose oversight and speculative trading creates risks for investors and financial stability. Bitcoin is up 60% in the last year. The token will still take time to become a reality. Conio is applying for a licence under the European Union's new crypto regulation, but sees room for growth. "The potential for development is enormous," said Conio's Chief Fintech Strategist and project architect Davide Rallo. https://www.reuters.com/business/autos-transportation/ferrari-aims-ai-generation-with-crypto-auction-le-mans-car-2025-10-25/

2025-10-25 01:13

WASHINGTON, Oct 24 (Reuters) - U.S. Energy Secretary Chris Wright on Friday issued an order that allows part of Talen's (TLN.O) , opens new tab oil-fired Wagner power plant in Maryland to run above limits through the end of 2025, saying it would boost the reliability of the grid. President Donald Trump declared an "energy emergency" on the first day of his second term. But he has taken a slew of actions to slash tax breaks and other support for renewable energy and has favored fossil fuel use at aging power plants. Sign up here. In July, Wright granted a request by the PJM Interconnection regional grid manager to allow the nearly 400-megawatt unit to run above limits. It was one of several units at Wagner that had been set to shut permanently in May before federal energy regulators approved keeping it open until 2029. The Energy Department said on Friday the "growing resource adequacy concern" that PJM cited in their July request "still exists today." Wright has also ordered a Michigan coal plant and a Pennsylvania plant that runs on natural gas or oil to stay open. https://www.reuters.com/legal/litigation/us-orders-part-talen-power-plant-maryland-run-above-limits-through-end-2025-2025-10-25/

2025-10-25 00:19

RIO DE JANEIRO, Oct 24 (Reuters) - Brazilian state-run oil firm Petrobras reported record exports of some 814,000 barrels of oil per day in the third quarter, as production surged and 11 wells started operating, the firm said on Friday. That was a 36% increase in oil exports compared to the same period of last year. China was the destination for 53% of the firm's shipments in the period, up 14 percentage points from a year ago. Sign up here. Asia, excluding China, received 19% of Petrobras' oil exports, a rise of 5 percentage points, while the share that went to the United States and Europe fell by half to 3% and 15%, respectively. Lower demand from the U.S. as sales increased to India and South Korea factored in the change, Petrobras said in its output and sales report. Total exports by the Brazilian company, including gas and oil derivatives, reached 1.04 million barrels, up 29% when compared to the July-September period of last year. Petrobras produced 2.52 million bpd of oil in Brazil in the quarter, up about 18%. Beyond the new 11 wells, the firm said the output increase came from a floating production vessel reaching peak production, another increasing capacity and four ramping up. The firm's total oil, gas and gas liquids production stood at 3.14 million barrels of oil equivalent per day, an almost 17% jump year-over-year. Total sales of oil, gas and oil derivatives were up nearly 10% in the period, to 3.26 million bpd. Petrobras is set to release its third-quarter earnings on November 6. https://www.reuters.com/business/energy/petrobras-q3-oil-gas-output-rises-17-year-earlier-2025-10-24/