Tag: Region Canada

In previous posts, we outlined measures imposed by states in response to Russia’s recognition of Donetsk and Luhansk. Following Russia’s invasion of Ukraine on 24 February 2022, various states have enacted a new tranche of measures in response and announced further measures to be imposed over the coming days. We outline below the further actions taken by the US, EU, UK, Canada, and Australia since our last update. The most significant developments represent: The designation of VTB by the US…

The US, EU, UK, Canada and Australia have continued to enact additional sanctions packages in response to Russia’s invasion of Ukraine. In this post, we outline some of the measures imposed since our last update. Our previous updates on sanctions imposed on Russia in relation to its activities in Ukraine can be found here, here, here, here and here. US On 25 February 2022, the US imposed sanctions on Russian President Vladimir Putin, Russian Foreign Minister Sergey Lavrov, Russian Minister of Defense Sergei Shoigu…

The world is seeing rapid changes to sanctions laws in response to Russia’s invasion of Ukraine. Australia is moving in lockstep with other countries imposing targeted financial sanctions and travel bans on Russian business and key individuals involved. This update summarises the Australian sanctions announced in response to the Russian invasion of Ukraine. It is critical that businesses in Australia who have exposure to Russian trade or investment ensure that their sanctions compliance framework is up to date and they…

Western allies kicked off a major naval exercise in the Baltic Sea on Saturday amid rising tensions with Russia over the conflict in Ukraine. About 3,200 soldiers from 14 countries are taking part in the German-led Northern Coasts 23 exercise, the German navy said in a statement. The exercise will involve 30 ships, submarines, up to 19 aircraft, and various landing units, it said. Other countries taking part include Italy, France, Finland, Estonia, Denmark, Canada, Belgium, Latvia, Lithuania, the Netherlands,…

In an age where digital platforms are primary sources of real-time information, Canadian Prime Minister Justin Trudeau’s clash with Mark Zuckerberg’s Meta, formerly Facebook, has become more poignant than ever. With wildfires raging across the country, the stakes are high. Earlier this summer, Meta, the parent company of Facebook and Instagram, made a controversial move. In response to the Online News Act introduced by Trudeau’s administration — legislation that forced tech companies to pay failing legacy news publishers — Facebook…

from the pick-a-lane,-guys dept This is just so painfully obnoxious. The legacy news media, spurred on by a welfare system that pretend free market supporter Rupert Murdoch dreamed up and convinced governments to implement, whereby the government would force internet companies, which had innovated and created new business models that worked, to suddenly be required to pay for sending traffic to legacy news media organizations which failed to innovate. It’s extreme corporate welfare, egged on by a guy who pretends…

Canadian news industry groups have asked the country’s antitrust regulator to investigate Meta Platforms’ decision to block news on its platforms in the country, accusing the Facebook parent of abusing its dominant position. Meta started blocking news on its Facebook and Instagram platforms for all users in Canada last week in response to a law requiring internet giants to pay for news articles. Canada’s Online News Act, part of a global trend to make tech firms pay for news, became…

The grey, two-storey home with white trim toppled and slid, crashing into the river below as rushing waters carried off a bobbing chunk of its roof. Next door, a condo building teetered on the edge of the bank, its foundation already having fallen away as erosion undercut it. The destruction came at the weekend as a glacial dam burst in Alaska’s capital, swelling the levels of the Mendenhall River to an unprecedented degree. The bursting of such snow-and-ice dams is…

HONG KONG – A number of global investors including Warburg Pincus and Canada Pension Plan Investment Board are opting out of Ant Group’s proposed share buyback after the Chinese fintech’s valuation was slashed by more than 70 per cent, according to people familiar with the matter. Singapore sovereign wealth fund GIC and Carlyle Group are also among top foreign shareholders that are not participating in the buyback, the people said. A few money managers, including Fidelity Investments and T. Rowe…

The heaviest rain to hit the Atlantic Canadian province of Nova Scotia in more than 50 years triggered floods causing “unimaginable” damage, and four people are missing, including two children, officials said Saturday. The storm, which started Friday, dumped more than 25 cm (10 inches) on some parts of the province in just 24 hours — an amount that usually lands in three months. The resulting floods washed away roads, weakened bridges and swamped buildings. “We have a scary, significant…

The USS Canberra is the latest military collaboration between the two countries as they join forces to combat China’s influence in the Pacific. The United States has commissioned a warship in Sydney, Australia, the first time a US Navy vessel joined active service at a foreign port, as the two close allies step up their military ties in response to China’s expanding regional reach. The Independence-class littoral combat ship – named USS Canberra – was commissioned on Saturday at a…

The president of Stanford University has stepped down in the wake of an independent investigation that found “substandard practices” in research papers he was involved in. Marc Tessier-Lavigne, the leader of the prestigious California university, issued a statement on Wednesday saying he would leave his post, effective August 31. Media reports in the United States had raised questions about “falsified data” in research linked to Tessier-Lavigne, a prominent neuroscientist from Ontario, Canada. But on Monday, a scientific panel commissioned by…

TORONTO – A few hundred members of Canada’s Sikh community demonstrated outside the Indian Consulate in Toronto on Saturday to protest the unsolved killing of one of their leaders last month in the Vancouver, British Columbia, area. They accused the Indian government of being responsible for the gunning down of Hardeep Singh Nijjar, president of a Sikh temple and campaigner for the creation of an independent Sikh state that supporters hope to call Khalistan. “When an Indian agency and system…

National Defence News release July 3, 2023 – Ottawa – National Defence / Canadian Armed Forces Today, the ships’ companies of His Majesty’s Canadian Ships (HMCS) Shawinigan and Summerside depart their homeport of Halifax, N.S., to join Standing NATO Mine Countermeasures Group 1 (SNMCMG1) on Operation REASSURANCE. The contribution of two Kingston-class Maritime Coastal Defence Vessels (MCDV) to SNMCMG1 demonstrates Canada’s ongoing commitment to NATO’s high readiness continuous at-sea presence, and the Royal Canadian Navy’s leadership on the world stage…

Canada’s banking regulator is cautioning that lenders and borrowers are overly reliant on lengthening mortgage amortizations to help the latter cope with higher interest rates and surging costs. In an exclusive interview with The Globe and Mail on Friday, Peter Routledge, the head of the Office of the Superintendent of Financial Institutions (OSFI), said that borrowers with mortgages in which payments are not high enough to cover the interest portion of the loan could experience a “shock” in significantly higher…

Petro-Canada gas stations across Canada are impacted by technical problems preventing customers from paying with credit card or rewards points as its parent company, Suncor Energy, discloses they suffered a cyberattack. Suncor Energy is the 48th-largest public company in the world, and one of Canada’s largest synthetic crude producers, having an annual revenue of $31 billion. The company says it has taken measures to mitigate the attack and informed the authorities of the situation. At the same time, it expects…