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Canada Latest: Mark Carney Officially Sworn In as Prime Minister, Names New Cabinet (Bloomberg)
Canadian Prime Minister Mark Carney unveiled his new economic team, keeping longtime politician François-Philippe Champagne (nicknamed Frankie Bubbles) as finance minister and placing former Goldman Sachs banker Timothy Hodgson in charge of energy and mining.
Carney wants to negotiate a long-term solution to the trade conflict with its largest trading partner, but that may mean extensive talks to change the North American free trade pact that the US, Canada and Mexico signed during Trump’s first term.
Looking Beyond the US: Latin American Leaders Ink Trade and Business Deals with China as Trump’s Tariffs Pressure Region (Bloomberg)
China has steadily expanded its footprint in Latin America, becoming a primary source of financing and a top trading partner for many countries. More than a dozen nations in the region have joined Beijing’s Belt and Road Initiative, leading to significant Chinese investment in projects such as Bogota’s metro system and the Chancay port in Peru.
New Escalation: Harvard Hit by $450 Million Federal Cut in New Trump Administration Push (Bloomberg)
President Trump’s administration is cutting another $450 million in grants to Harvard University, the latest escalation in a fight that has seen US officials seek to exert control over the oldest and richest US school.
The White House has also gone after colleges including Columbia, Princeton, Cornell and Northwestern, expanding its criticisms to their diversity efforts, but in recent weeks has focused its sights on Harvard and its alleged Democratic biases.
Harvard in turn is suing the Trump administration over demands the government has made over its academic and disciplinary policies, arguing that they would infringe on free speech and its education mission.
Tech Today: Norway Wealth Fund’s AI Use Sparks Hiring Freeze, CEO Says (Bloomberg)
Artificial intelligence will allow Norway’s sovereign wealth fund, the world’s largest, to stop hiring more humans for now in an early indication of the disruption the emerging technology may bring to the workforce.
“We do not foresee the number of employees increasing any further” in the near future, Chief Executive Officer Nicolai Tangen told lawmakers in Oslo on Tuesday. Instead, the $1.8 trillion fund, will now “focus on better efficiency through more use of technology,” he said.
Staff numbers at Norges Bank Investment Management hit a record high last year after steady growth since the pandemic. At the end of 2024, it employed 676 staff across its four hubs in Oslo, London, New York and Singapore. It’s the world’s biggest single holder of stocks, with stakes in more than 8,500 listed companies globally.
Climate of Hope: Renewable Power Is the Answer to Surging Utility Bills in the US (Sheekey Daily Blog)
As clean energy prices drop almost monthly, common sense says that faster embrace of change is the need of the moment, Carl Pope writes in a new blog post.
An accelerated shift from expensive fossil fuels to ever cheaper renewable power is the cure for what ails American power production. The market is taking notice – and it’s already taking action. Will our leaders in Washington? (Read the full piece here)
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Summer Film Preview: Bono's 'Stories of Surrender' Documentary Heading to Cannes Film Festival, Followed by Apple TV+ (Hollywood Reporter)
The documentary on Bono, which is set to hit Apple TV+ shortly after its festival debut in Cannes, sees Bono discuss his career, family and activism while also performing U2’s iconic songs. From 'Rent' to 'Hamilton,' RadicalMedia has a long history of bringing Broadway’s most famous stage hits to the big screen. It's next up for RadicalMedia, which is transporting New York’s Beacon Theatre to Cannes with Bono in tow.
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