fortune ox com
Panamanian President Jose Raul Mulino on Thursday ruled out negotiations with US President-elect Donald Trump over control of the Panama Canal, denying that China was interfering in its operation. Mulino also rejected the possibility of reducing tolls for US vessels in response to Trump's threat to demand control of the vital waterway connecting the Atlantic and Pacific oceans be returned to Washington. "There's nothing to talk about," Mulino told a press conference. "The canal is Panamanian and belongs to Panamanians. There's no possibility of opening any kind of conversation around this reality, which has cost the country blood, sweat and tears," he added. The canal, inaugurated in 1914, was built by the United States but handed to Panama on December 31, 1999, under treaties signed some two decades earlier by then-US president Jimmy Carter and Panamanian nationalist leader Omar Torrijos. Trump on Saturday slammed what he called "ridiculous" fees for US ships passing through the canal and hinted at China's growing influence. "It was solely for Panama to manage, not China, or anyone else," Trump said in a post on his Truth Social platform. "We would and will NEVER let it fall into the wrong hands!" If Panama could not ensure "the secure, efficient and reliable operation" of the channel, "then we will demand that the Panama Canal be returned to us, in full, and without question," he said. An estimated five percent of global maritime traffic passes through the Panama Canal, which allows ships traveling between Asia and the US East Coast to avoid the long, hazardous route around the southern tip of South America. The United States is its main user, accounting for 74 percent of cargo, followed by China with 21 percent. Mulino said the canal's usage fees were "not set at the whim of the president or the administrator" of the interoceanic waterway, but under a long-established "public and open process." "There is absolutely no Chinese interference or participation in anything to do with the Panama Canal," Mulino said. On Wednesday, Trump wrote on Truth Social alleged, without evidence, that Chinese soldiers were "lovingly, but illegally, operating the Panama Canal." Mulino denied that allegation, too. "There are no Chinese soldiers in the canal, for the love of God," he added. Panama established diplomatic relations with China in 2017, after breaking off ties with Taiwan -- a decision criticized by Trump's first administration. On Tuesday, dozens of demonstrators gathered outside the US embassy in Panama City chanting "Trump, animal, leave the canal alone" and burning an image of the incoming US president.Trump opposes TikTok ban, asks Supreme Court for time to resolve via negotiations
The best after-Christmas Amazon deals: Score Apple AirTags for a near record low and more
Hampton Mayor Donnie Tuck says great things lie ahead in his final State of the City address
TORONTO — Canada's main stock index lost more than 100 points Tuesday ahead of an expected interest rate cut Wednesday, while U.S. markets were also down. The S&P/TSX composite index closed down 121.09 points at 25,504.33. In New York, the Dow Jones industrial average was down 154.10 points at 44,247.83. The S&P 500 index was down 17.94 points at 6,034.91, while the Nasdaq composite was down 49.45 points at 19,687.24. “Relative to the churn we have seen in the markets the last few days ... today being a little bit of a boring day would be fairly welcome for many investors,” said Stephen Duench, vice-president and portfolio manager for AGF Investments Inc. Wednesday is set to be more exciting, with an interest rate cut expected in Canada and important consumer inflation data coming in the U.S. “I do expect a little bit more fireworks tomorrow,” said Duench. The Bank of Canada is widely expected to announce an outsized cut Wednesday of half a percentage point, he said. “Anything other than that would be a surprise.” The U.S. Federal Reserve has its last decision of the year scheduled for next week, and market watchers are leaning toward a smaller quarter-percentage-point cut there, said Duench. It would be the third cut this year after the central bank hiked rates to a two-decade high to fight inflation. The inflation report will be the last significant data point before the central bank’s decision, Duench said. If the inflation report shows price growth is proving more stubborn than expected, that could change the Fed’s thinking on rates next week, he said. “Maybe that's part of the reason we've seen churn in the market the last few days in the U.S.” Beneath the surface, there was some movement in the tech sector, where Oracle sank 6.7 per cent after its latest earnings report missed expectations. Meanwhile, Google's stock price rose by more than five per cent. The company on Tuesday unveiled its new chip meant for quantum computing. Duench said after the advent of artificial technology led a rally earlier this year, quantum computing could be another frontier for investors to keep an eye on. The Canadian dollar traded for 70.59 cents US compared with 70.77 cents US on Monday. The January crude oil contract was up 12 cents at US$68.59 per barrel and the January natural gas contract was down two cents at US$3.16 per mmBTU. The February gold contract was up US$32.60 at US$2,718.40 an ounce and the March copper contract was down less than a penny at US$4.27 a pound. — With files from The Associated Press This report by The Canadian Press was first published Dec. 10, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressBy RONALD BLUM DALLAS (AP) — Nolan Arenado is open to a trade from the St. Louis Cardinals, at age 33 wanting to be on a World Series contender. “It’s like his biological clock is ticking,” agent Joel Wolfe said Tuesday at the winter meetings. “And if the team’s not winning it’s driving him crazy [...]