Politics
Despite weaker U.S. job market data, stock markets are holding steady – National TenX News
Wall Street is holding steady on Thursday as the countdown ticks to an update on the U.S. job market coming Friday that could clear the way for the cuts to interest rates that investors love.
The S&P 500 rose 0.2 per cent in early trading. The Dow Jones Industrial Average was down 45 points, or 0.1 per cent, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.4 per cent higher.
Treasury yields were also easing in the bond market following the latest discouraging signals on the job market. One report suggested U.S. employers, excluding the government, nearly halved their hiring last month. Another said that more U.S. workers applied for unemployment benefits last week, an indication of rising layoffs.
Neither number is flashing a recession, but a slowdown in the job market could push the Federal Reserve to consider cutting its main interest rate for the first time this year at its next meeting in a couple weeks. So far this year, the Fed has been keeping rates on hold because it’s been more worried about inflation potentially worsening than about the job market.
Cuts to interest rates can give the economy and job market a kickstart, but they can also push inflation higher.
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“The year started with strong job growth, but that momentum has been whipsawed by uncertainty,” according to Nela Richardson, chief economist at ADP. She said several things could be behind the slowdown, including “labor shortages, skittish consumers, and AI disruptions.”
A much more comprehensive report on the job market from the U.S. Labor Department will arrive on Friday, and it will likely carry much weight with the Fed. Ahead of it, the yield on the 10-year Treasury fell to 4.19 per cent from 4.22 per cent late Wednesday.
Last month’s grim July jobs report, which included massive downward revisions for June and May, sent financial markets spiraling and prompted President Donald Trump to fire the head of the agency that compiles the monthly data.

On Wall Street, Salesforce was one of the market’s heaviest weights, even though it reported a better profit for the latest quarter than analysts expected. Analysts called the performance solid but suggested some of it may have come from one-time factors. Salesforce, which helps businesses manage their customers, fell 7.4 per cent.
C3.ai tumbled nine per cent after reporting a larger loss for the latest quarter than analysts expected. Chairman Thomas Siebel called the results “completely unacceptable,” while announcing a new chief executive for the company, Stephen Ehikian. He was most recently acting administrator of the U.S. General Services Administration.
On the winning side of the market was American Eagle Outfitters, which jumped 31.5 per cent after the teen fashion retailer reported more than double the profit that analysts had expected. It benefited from a frenzy of media attention in late July over its intentionally provocative advertising campaign featuring 27-year-old actor Sydney Sweeney.
The ads — which featured the tagline “Sydney Sweeney has great jeans” — sparked a debate about race, Western beauty standards, and the backlash to “woke” American politics and culture.
Hewlett Packard Enterprise added one per cent following its own better-than-expected profit report.
The Toronto Stock Exchange saw a modest gain at first, but overall showed little change after trading opened Thursday.
In other stock markets abroad, indexes were mixed across Europe and Asia.
Indexes dropped 1.3 per cent in Shanghai and Hong Kong but jumped 1.5 per cent in Tokyo.
– With files from Global News’ Ari Rabinovitch
© 2025 The Canadian Press
Politics
How could Canada, EU, NATO respond to a U.S. takeover of Greenland? – National TenX News
The possibility of a forceful U.S. takeover of Greenland is raising many unprecedented questions — including how Canada, the European Union and NATO could respond or even retaliate against an ostensible ally.
A high-level meeting between Greenlandic, Danish and U.S. officials this week did not resolve the “fundamental disagreement” over the territory’s sovereignty but did set the stage for more talks. The White House made clear Thursday that U.S. President Donald Trump’s desire to control Greenland has not changed after the meeting.
“He wants the United States to acquire Greenland. He thinks it’s in our best national security to do that,” White House press secretary Karoline Leavitt said.
Denmark and European allies are sending more troops to the territory in a show of force and to display a commitment to Arctic security.
Experts say there are other, non-military measures available in the event of a U.S. annexation or invasion of Greenland, or which could at least be threatened to try and get Trump to back down.
Whether those economic measures are actually used is another matter, those experts say.
“I think it remains highly unlikely that we’ll get to that point where we have to seriously discuss consequences for a U.S. move on Greenland,” said Otto Svendsen, an associate fellow with the Europe, Russia, and Eurasia Program at the Center for Strategic and International Studies.
“So it remains contingency planning for a highly unlikely event. That being said … Denmark would certainly do everything in its power to rally a very robust European response.”
Here’s what that could entail.
EU trade, tech disruptions?
Experts agree the biggest pressure points that can be used in the U.S. surround trade and technology.
The European Parliament’s trade committee is currently debating whether to postpone implementing the trade deal signed between Trump and the EU last summer to protest the threats against Greenland, Reuters reported Wednesday.
Many lawmakers have complained that the deal is lopsided, with the EU required to cut most import duties while the U.S. sticks to a broad 15 per cent tariff for European goods.
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An even bolder move would be triggering the EU’s anti-coercion instrument — known as the “trade bazooka” — that would allow the bloc to hit non-member nations with tariffs, trade restrictions, foreign investment bans, and other penalties if that country is found to be using coercive economic measures.
Although the regulation defines coercion as “measures affecting trade and investment,” Svendsen said it could feasibly be used in a diplomatic or territorial dispute as well.
“EU lawyers have proven themselves to be very creative in recent years,” he said.
However, David Perry, president of the Canadian Global Affairs Institute, said in an email that economic measures against the U.S. are unlikely “given the massive asymmetry in the defence and economic relationship between the U.S.” and other western nations.
“Any kind of sanction against the U.S. doesn’t make sense for the same reason they can impose tariffs on others: they have the power,” Perry added.

Target U.S. tech companies?
The likeliest — and potentially least harmful — scenario for retaliation in the event of an attack on Greenland, Svendsen said, would be fines or bans against U.S. tech companies like Google, Meta and X operating in Europe.
That’s because the Trump administration has taken particular focus on preventing what they call “attacks” on American companies by foreign governments seeking to regulate their online content or tax their revenues, which has led to calls on Canada, Britain and the EU to repeal laws like digital services taxes.
“I think that would be a really smart and targeted way to get to economic interests very close to the president, while minimizing the direct impact on the on the European economy,” Svendsen said, calling such a move “low-hanging fruit.”
He also compared a future U.S. tech platform ban to how Europe moved to wean itself off Russian gas after the full-scale invasion of Ukraine in 2022.
“If you told anyone back then that Europe would basically rid itself of its dependence on Russian gas basically within a two-year period … that would have been considered completely impossible,” he said.
“Weaning the European economy off of U.S. tech would certainly be painful in the short term, but they’ve proven that they can get off those dependencies quickly if there is political will behind it in the past.”
A U.S. hostile takeover of Greenland would mean the “end” of the NATO alliance, experts and European leaders have said.
Trump himself has acknowledged it could be a “choice” between preserving the alliance or acquiring Greenland.
There is no provision within the NATO founding treaty that addresses the possibility of a NATO member taking territory from another, and how the alliance should respond to such an act.
A NATO spokesperson told Global News it wouldn’t “speculate on hypothetical scenarios” when asked how it could potentially act.
“None of this would be actionable in a NATO sense,” Perry said. “It’s an alliance that’s organized to bind the U.S. to European security, and revolves around the U.S. So there’s no scenario of NATO doing that to the U.S.”
Denmark and other European nations could move to reduce or close U.S. military bases in their countries as a possible response, experts say.
Balkan Devlen, a a senior fellow at the Macdonald-Laurier Institute and director of its Transatlantic Program, said in an interview that a U.S. annexation of Greenland would force Canada to focus entirely on boosting its defences in the Arctic.
That may include trying to decouple from NORAD, the joint northern defence network with the U.S., in favour of a purely domestic Arctic command, he said — although that process would take years and require Canada to increase defence spending even further.
“Never mind five per cent (of GDP) — we will probably need to go like seven, eight, nine per cent on defence spending to be able to do anything of that sort,” he said. “It’s not even clear that we’ll be able to have enough people to do that.”
Devlen added that any retaliatory action, whether military or financial, needs to be targeted and proportionate to what the U.S. does.
“The problem with nuclear options is that once you use it, it’s gone,” he said. “And if it doesn’t do the damage or make the change of behaviour on the other party, you’ve basically lost a lot of leverage and you might actually sustain a lot more loss yourself.”
Politics
Louvre raises ticket prices for non-Europeans, hitting Canadian visitors TenX News
A trip to the world’s most-visited museum is about to cost Canadians significantly more.
France has hiked ticket prices at the Louvre by 45 per cent for visitors from outside the European Union, a move that is fuelling debate over so-called dual pricing and the growing backlash against overtourism.
Starting this week, adult visitors from non-EU countries, including Canada, must pay €32 to enter the Paris landmark, up from €22. That’s an increase from about $35 to $52 Canadian.

Visitors from EU countries, as well as Iceland, Liechtenstein and Norway, will continue to pay the lower rate.
The price hike comes as the Louvre grapples with repeated labour strikes, a high-profile daylight jewel heist last October that prompted a costly security overhaul, and years of chronic overcrowding. The museum attracts roughly nine million visitors annually.
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Some Canadian tourists told Global News they feel unfairly targeted.
“We didn’t cause the robberies or some of the other issues that happened and we are paying the consequences,” said Allison Moore, visiting Paris from Newfoundland with her daughter. “[In] Canada we don’t discriminate over pricing like that.”
Others argue tourists already shoulder higher costs simply by travelling long distances.
“In general for tourists, I think things should be a little cheaper than for local people, because we have to travel to come all the way here,” said Darla Daniela Quiroz, another Canadian visitor. “It should be equal pricing, or a little bit cheaper.”

Even some Europeans question the two-tiered system. A French tourist interviewed outside the museum said there was “no reason” to charge non-Europeans more and that the fee should be the same for everyone.
Tourism experts say the Louvre’s financial pressures help explain the decision.
“The Louvre is really cash-strapped right now and needs to do something,” said Marion Joppe, a professor at the University of Guelph. “It can’t really look to the government, which is already struggling with its own budget.”
The move also reflects a broader global pushback against mass tourism. Anti-tourism protests have spread across parts of Spain, New Zealand has increased its entry tax, and the United States recently raised national park fees for foreign visitors.
“You take Paris — it gets about 50 million tourists a year,” said Julian Karaguesian, an economist at McGill University. “That’s roughly a million a week. The city simply wasn’t built for those kinds of numbers.”
Despite the higher price, many visitors say they will still line up to see the Mona Lisa and other of the museum’s famous artworks.
“It’s one of the main attractions. It’s on everybody’s list,” Moore said. “We’re still going to go, and hopefully it will be worth it in the end.”
© 2026 Global News, a division of Corus Entertainment Inc.
Politics
Trump calls Canada-China deal ‘good thing’ as U.S. officials voice concern – National TenX News
Canada’s new trade deal with China is getting a mixed reaction in Washington, with U.S. President Donald Trump voicing support as administration officials warned Ottawa could regret allowing Chinese EVs into the Canadian market.
The deal signed with Beijing on Friday reverses course on 100 per cent tariffs Canada slapped on Chinese electric vehicles in 2024, which aligned with similar U.S. duties. Canada and China also agreed to reduce tariffs on canola and other products.
Asked about the deal by reporters at the White House, Trump said Prime Minister Mark Carney was doing the right thing.
“That’s what he should be doing. It’s a good thing for him to sign a trade deal. If you can get a deal with China, you should do that,” Trump said.
However, members of Trump’s cabinet expressed concern.
“I think they’ll look back at this decision and surely regret it to bring Chinese cars into their market,” U.S. Transportation Secretary Sean Duffy said at an event with other U.S. government officials at a Ford factory in Ohio to tout efforts to make vehicles more affordable.
U.S. Trade Representative Jamieson Greer told reporters the limited number of vehicles would not impact American car companies exporting cars to Canada.
“I don’t expect that to disrupt American supply into Canada,” he said.
“Canada is so dependent on the United States for their GDP. Their entire population is crowded around our border for that reason. I’ll tell you one thing: if those cars are coming into Canada, they’re not coming here. That’s for sure.”
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Carney has said it’s necessary for Canada to improve trade ties and cooperation with China in light of Trump’s trade war and threats to let the Canada-U.S.-Mexico Agreement on free trade expire.

The trade pact is up for review this summer, and Greer reiterated that the Trump administration wants to bring more auto manufacturing back to the U.S. and incentivize companies to do so.
Under the new deal with Beijing, Carney said he expects China will lower tariffs on its canola seed by March 1 to a combined rate of about 15 per cent.
Greer questioned that agreement in a separate CNBC interview.
“I think in the long run, they’re not going to like having made that deal,” he said.
He called the decision to allow Chinese EVs into Canada “problematic” and added: “There’s a reason why we don’t sell a lot of Chinese cars in the United States. It’s because we have tariffs to protect American auto workers and Americans from those vehicles.”
Greer said rules adopted last January on vehicles that are connected to the internet and navigation systems are a significant impediment to Chinese vehicles in the U.S. market.
“I think it would be hard for them to operate here,” Greer said. “There are rules and regulations in place in America about the cybersecurity of our vehicles and the systems that go into those, so I think it might be hard for the Chinese to comply with those kind of rules.”

Trump and officials like Greer have taken aim at Chinese attempts to enter the North American car market through Mexico by bypassing rules of origin under CUSMA.
The CUSMA review set for July is expected to address those loopholes that American and Canadian officials have said are being exploited by China.
Those concerns, which were also raised by the Biden administration, in part helped spur the steep tariffs on Chinese EVs, which are heavily subsidized by Beijing.
Trump, however, has also said he would like Chinese automakers to come to the United States to build vehicles.
Both Democrat and Republican lawmakers in the U.S. have expressed strong opposition to Chinese vehicles as major U.S. automakers warn China poses a threat to the U.S. auto sector.
Ohio Senator Bernie Moreno, a Republican, said at Friday’s event at the Ford plant that he was opposed to Chinese vehicles coming into the United States, and drew applause from the other government officials.
“As long as I have air in my body, there will not be Chinese vehicles sold the United States of America — period,” Moreno said.
—with files from Reuters
© 2026 Global News, a division of Corus Entertainment Inc.
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