Wall Street sees 35% Canada tariff as just a negotiation tactic: ‘Tariffs are Trump’s hammer for every nail’

On Thursday, President Donald Trump posted on social media that Canada would be subjected to an additional 35% tariff rate on products not already subjected to sectoral tariffs.  The reason cited for the new tariffs was Canada’s own retaliatory tariffs, which it issued on March 12 in response to earlier levies imposed by the U.S.  The new tariffs are set to go into effect on Aug. 1. Trump implemented that fresh deadline after the original 90-day pause, issued in April, expired on July 9. This week, the White House sent…

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Pershing Square CEO Bill Ackman made his professional tennis debut. He lasted 67 minutes.

Pershing Square founder Bill Ackman made his professional tennis debut. In a doubles match at the Tennis Hall of Fame Open, he and his partner lost in straight sets in a match that lasted just 67 minutes. Some tennis greats were sharply critical of the match. Bill Ackman is a giant on Wall Street, but he’s apparently much less dominant on the tennis courts. The founder and CEO of hedge fund company Pershing Square Capital Management made his professional tennis debut Wednesday, playing in a doubles tournament with four-time Grand…

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As Americans flee the U.S., here’s how the €1 properties in Europe work

Americans are packing their things and leaving the U.S. in droves. Those looking to escape may be able to snag a villa in Sicily for a sliver of the cost of a cup of coffee.  U.S. citizens have been immigrating for quite some time—especially rich Americans hoping for a slice of a slower life, or to live in a country where they can do more with their money. It’s been fueling an immigration boom into Canada and Mexico, as well as to Europe and the U.K.  There was an even…

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This AI startup offers employees a rent stipend benefit

Earlier this week I had an interview with one of the most hustle culture-driven founders I’ve talked to in a long time.  Sebastian Jimenez is the CEO and cofounder of Rilla, a software company that provides transcription solutions for sales and service teams. He doesn’t believe in work-life balance and expects his roughly 80 employees to put in at least 70 hours per week in-person at the office. That’s a big ask, but the company offers competitive compensation and some niche benefits to sweeten the deal. In addition to traditional…

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How a nonprofit CEO rallied 200 businesses to help score billions in child care wins as part of Trump’s Big Beautiful Bill

– Child care win. The recently passed “One Big Beautiful Bill” will have far-reaching effects on everything from income taxes to student loans to immigration. One under-covered aspect of the law: it also includes billions of dollars in child care-related tax cuts, a rare win for a pocketbook issue that Washington typically overlooks. The key to winning the investment, says Reshma Saujani, CEO of advocacy organization Moms First, was getting businesses on board and appealing to voters across the political spectrum. Knowing the tax bill would be the first big…

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Mexico’s cartels are taking a $1.3 billion bite out of the economy through extortion—and they’re getting hungrier

It started with a phone call to a men’s clothing store in the heart of Mexico City’s historic center. “I need you to put together 10,000 pesos ($500) for me weekly, or else we’ll have to do something,” the voice said. The owner hung up and didn’t answer the phone again for days. But when another call came the following week, in a surge of courage and indignation the owner told the caller he wouldn’t pay, that the money demanded would have been half the store’s daily income. “Well, prepare…

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China has 90% of the rare earth that the world needs. America’s just getting started on its second mine

The developer of what would be the first new coal mine in Wyoming in decades plans to process the fossil fuel to extract hard-to-get metals that are crucial for tech products and military hardware. Energy Secretary Chris Wright, former West Virginia U.S. Sen. Joe Manchin, Wyoming Gov. Mark Gordon, and Wyoming’s congressional delegation are on the VIP list for a groundbreaking ceremony Friday at the Ramaco Resources, Inc., Brook Mine outside Ranchester in far northern Wyoming. Rare earth elements are a family of 17 metallic elements with unusual properties that…

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Over 30 million homeowners don’t have a mortgage right now. Here’s why that’s a big warning sign about the housing market

The quintessential American dream is to become a homeowner. For generations, it’s been seen as a symbol of economic stability and a beacon for building wealth. But with mortgage rates and home prices remaining elevated over the past several years, that’s blocked many would-be homeowners from breaking into the housing market. The number of first-time home buyers in the U.S. is abysmal: in 2004, the number of first-time homebuyers was nearly 3.2 million, according to NAR data shared with Fortune on Tuesday. By 2024, that number had plummeted to just…

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How business leaders can upgrade strategic planning with multi-agent platforms

Even in the best of times, strategic planning is a challenge for business leaders. When global uncertainty and volatility rise, the task gets even more difficult—and more integral to business success. When the world is in flux, an organization’s optionality grows in importance, as does organizational resilience. In fact, as research has repeatedly shown, resilience is now a substantial driver of corporate outperformance.  But building resiliency and optionality into a strategic plan challenges humans’ cognitive (and financial) bandwidth. The seemingly endless array of future scenarios, coupled with our own human biases, conspires to anchor our understanding of…

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Snap exec on the ‘impersonal email’ mistake that transformed his leadership journey

For Ronan Harris, Snap’s EMEA president, the lesson that changed how he led teams didn’t come from a boardroom or a business book. It came from his father. Years ago, Harris was leading a large, fast-growing team at Google and wanted to show appreciation to top performers. “Every performance cycle I’d look for the top 5, 10% of people, and I’d send them a little email and go, thanks for all the hard work,” he recalled during an exclusive panel discussion hosted by Fortune at Cannes Lions. It was a…

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