Canadian and U.S. markets continued their selloff Thursday as U.S. President Donald Trump’s tariff streak continued, taking the S&P 500 into its first correction since 2023. 

The S&P/TSX composite index closed down 220.11 points at 24,203.23. 

In New York, the Dow Jones industrial average was down 537.36 points at 40,813.57. The S&P 500 index was down 77.78 points at 5,521.52, while the Nasdaq composite was down 345.44 points at 17,303.01.

The Canadian dollar traded for 69.40 cents US compared with 69.49 cents US on Wednesday.

The April crude oil contract was down US$1.13 at US$66.55 per barrel and the April natural gas contract was up three cents at US$4.11 per mmBTU.

The April gold contract was up US$44.50 at US$2,991.30 an ounce and the May copper contract was up eight cents at US$4.93 a pound.

The post TSX, U.S. markets continue to sell off Thursday after latest Trump tariff threat appeared first on CityNews Winnipeg.

By Brian Owens, The Courier

Operations at Ganong Bros in St. Stephen were temporarily disrupted in recent weeks in what the company described as an “IT security incident”

Claire Ryan, director of public relations, said the attack was discovered on Feb. 22, 2025.

“Upon discovering the incident, we immediately undertook countermeasures to protect our network and data, including retaining third-party cybersecurity experts and external legal counsel to assist with containment, remediation and to conduct a forensic investigation to determine the extent of the incident,” she said in an email.

“Ganong’s investigation is ongoing to determine the extent to which any data, including personal information, may have been compromised,” she added. “Should our investigation determine that personal information was impacted, we will notify affected individuals directly in accordance with privacy laws.”

Ryan said that while operations at the company’s facility in St. Stephen were temporarily affected, they have since been restored to normal.

The cybersecurity website RedPacket Security found evidence of the attack on a site on the dark web, including a screenshot purportedly showing the internal communications and data stolen from Ganong. The information was posted on a site linked to a group known as PLAY, a hacker collective believed to be based in Russia.

RedPacket identified the incident as a ransomware attack, in which hackers steal a victim’s data and encrypt it before demanding a ransom, usually in a cryptocurrency such as Bitcoin, to unlock the data. The data may also be sold to other criminal groups.

Ryan did not say whether a ransom had been demanded or paid.

United States President Donald Trump recently announced the U.S. would establish a strategic cryptocurrency reserve of Bitcoin, Ether, Ripple, Solana and Cardano. This move, he said, would make the U.S. “the crypto capital of the world.”

Once a vocal crypto-skeptic, Trump now frames his support as an embrace of technologies that champion freedom and innovation.

However, the problem with Trump’s view is that it assumes crypto will lead to the elimination of financial intermediaries. By replacing trust with transparency, cryptocurrency promises to put individuals in charge of their monetary transactions.

Our research demonstrates that this is only a partial view. In reality, crypto is dependent on social practices behind the technology.

Crypto-believers often blame greedy financiers as the cause of the Great Recession in 2008. But we argue that crypto is not immune to these same risks.

Replacing trust with transparency

Cryptocurrencies are a type of digital money that trades on a blockchain. A blockchain is a decentralized ledger technology that allows users to trade pseudo-anonymously.

Public blockchains operate on a distributed peer-to-peer network. This network provides each user a complete record of transactions that is updated in real time. Users can send digital cash between themselves without relying on a centralized authority.

Since each user has a full record of transactions, the system promises full transparency. But our research demonstrates that public blockchains, and the cryptocurrencies that run on them, do not actually replace trust with transparency.

Speculation, manipulation and market crashes remain very real dangers, regardless of whether the financial system is centralized or decentralized.

Cryptocurrencies rely on people

We studied the communications between the founder of Bitcoin, Satoshi Nakamoto, and the early Bitcoin community. We found the development and implementation of cryptocurrencies relies on negotiations between individuals. Who has a final say on which line of code will prevail depends on a social hierarchy dominated by insiders.

Centralization of power in the hands of insiders is still a major issue in the cryptocurrency space. This is particularly an issue for emerging cryptocurrencies like memecoins. Memecoins are a type of cryptocurrency named after internet memes or similar jokes. They draw their value entirely from speculation.

The Trump Organization recently launched memecoins $TRUMP and $MELANIA. The U.S. Securities and Exchange Commission has concluded that memecoins do not qualify as securities, and therefore are outside its regulatory purview. Not only are memecoins risky, but they come with a significant risk of insider trading.

Read more: $Trump and $Melania crypto tokens illustrate the risks posed by trendy meme coins

A recent case study on the memecoin $LIBRA shows how influencers, anonymous developers and centralized exchanges facilitate market distortions, often at the expense of retail investors.

When cryptocurrencies are outside the scope of regulation, individuals behind the technology can profit from insider information. This is less of a risk with widely traded cryptocurrencies like Ether and Bitcoin, but investors should be aware that any technology is reliant on the people who design the code and regulate its changes.

Personal views towards privacy, for instance, can impact governance decisions. These beliefs can have important implications for the value and usability of any technology, cryptocurrencies included.

Talking crypto into reality

Our research suggests cryptocurrency insiders can artificially inflate the value of their coins by talking them up, effectively creating value out of nothing.

By using economic and accounting language to describe Bitcoin, the early Bitcoin community effectively turned a string of zeroes and ones into something that could be measured, valued and recognized. Economists argue that even fiat currency is backed by a type of belief — trust in institutions.

Bitcoin, too, relies on belief, but a different kind. Its value is based users’ collective confidence in the technology and security of the network, a phenomenon known as the network effect. As more people adopt Bitcoin, its perceived value rises, creating a self-sustaining cycle of belief and value based on market demand.

Recently, American stockbroker and anti-crypto advocate Peter Schiff accused Trump of manipulating the cryptocurrency market following the announcement of the strategic crypto reserve. Schiff has called for a congressional investigation into Trump and his team to determine who may have profited from the announcement, which triggered a massive increase in crypto prices.

Given the volatility of cryptocurrencies, their values are highly susceptible to herd behaviour, and public sentiment has a significant effect on cryptocurrency returns.

Where does this leave investors?

Our research and other studies like it have shown that cryptocurrency is subject to important value changes based on announcements by a small group of influential individuals.

We caution anyone interested in investing in crypto to do their homework by examining the underlying economics of a coin, getting to know the team behind it and evaluating their risk tolerance before moving forward.

With thousands of cryptocurrencies in circulation, distinguishing between a promising investment, a speculative gamble or even scams is crucial.

Despite the uncertain and unpredictable nature of digital assets, one thing is certain: the conversation around crypto is far from over.

Erica Pimentel receives funding from l'Association des normes comptables de France.

Mélissa Fortin does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

The day after the United States implemented 25 per cent tariffs on steel and aluminum tariffs, Premier Susan Holt said she plans to hold a news conference every Thursday until the period of uncertainty surrounding U.S. trade is over.

Efforts to bring the Taltson hydro facility in the N.W.T. back online have been delayed again because of a vibration within the unit that's causing concern, according to the Northwest Territories Power Corporation.

HARARE, Zimbabwe (AP) — Five children were killed after a dam collapsed in eastern Zimbabwe, and rescuers were searching for two others who were reported missing, the country’s disaster management agency said Thursday.

An influx of water following continuous rains in recent weeks breached the walls of the dam at a farm in Chipinge, a remote district in the east of the country, on Sunday. Authorities initially said a four-year-old girl doing laundry with her mother and a 30-year-old man died. The girl’s mother survived.

However, with some children unaccounted for in the area, a frantic search and rescue mission kicked off and resulted in the recovery of four more bodies of children this week.

The southern African nation’s disaster management agency, the Civil Protection Unit, said the search is continuing for two more children, ages eight and four, who are still missing.

The agency said gushes of water flooded downstream villages, catching the children who were fishing or doing laundry on a nearby river by surprise and also destroying agricultural equipment and killing livestock.

A team from the Civil Protection Unit, the police and community members were combing the area to locate the missing children.

Zimbabwe, fresh from the most severe drought in four decades, has seen incessant rains in many parts of the country in recent weeks.

By Farai Mutsaka, The Associated Press

Environment Minister Steven Guilbeault will be given a new portfolio in Mark Carney's cabinet, a source with knowledge of the decision told Radio-Canada

HALIFAX — Nova Scotia’s Opposition leader is calling on the public to make their voices heard on a series of contentious government bills, including legislation to lift a ban on fracking and uranium mining.

NDP Leader Claudia Chender says citizens should attend a legislative committee hearing on Monday that is reviewing the bills, which also touch on subjects such as university governance.

Premier Tim Houston has faced strong pushback to several of his government’s recent proposals, including to limit the independence of the auditor general and increase barriers to accessing documents and records.

In response, Houston has said he would withdraw proposed changes to the auditor general’s power and would likely make amendments to the bill to change freedom of information rules.

But Chender says her party has yet to see the amendments in written form.

The legislature resumes sitting next week after a week off for the province’s March school break.

This report by The Canadian Press was first published March 13, 2025.

The Canadian Press

Nunavik’s teachers union is accusing Kativik Ilisarniliriniq and Quebec government of using bad faith negotiations as the three parties attempt to negotiate a collective agreement for around 450 educators. (Photo by Cedric Gallant)

The union representing teachers in Nunavik has filed a formal complaint against Kativik Ilisarniliriniq and Quebec’s Ministry of Education, accusing them of using bad faith in negotiating a new collective bargaining agreement.

“[Negotiations] have not moved in months and we have no answers to our demands,” said Larry Imbeault, president of the Association of Employees in Northern Quebec, in a French interview.

“We had no choice but to use this option.”

The complaint was sent to Quebec’s administrative workers tribunal, a labor law body tasked to hasten reconciliation and help organizations reach settlements, on March 11.

It alleges that by refusing to offer answers, counter-proposals or participate in negotiations, the province and school board are transgressing their obligation to negotiate in good faith.

The complaint lays out a detailed recount of events from the union’s perspective, since the collective agreement expired March 31, 2023.

Kativik Ilisarniliriniq, the union and the Quebec government have been in negotiations to renew a collective agreement since Oct. 31, 2022. Around 450 Nunavik educators fall under the agreement.

The union called for a brief strike in December, which ran from Jan. 16 to Jan. 21 this year.

Since then, the union says, only one brief meeting has happened by videoconference. The union brought a new document that explains the need for bonus premiums, which have not been updated since 2001 for Nunavik teachers.

The school board did not provide a response to the demand and said it did not know when it would be able to, the union says.

A meeting was planned for March 14, but the school board has not confirmed attendance.

The union has also asked the school board to provide a meeting calendar for the period between May and December 2025, a response to the union’s demands, and $60,000 to compensate for legal fees and punitive damages.

“At the moment, we are focusing on legal means to get things moving,” said Imbeault. “We don’t think strikes will get things moving because we have the impression that it did not shake the school board.”

Imbeault said he is worried the lingering negotiations will drag into the next school year, which could impact how many educators choose to come back and work in Nunavik.

“I am scared that [the negotiations] will demotivate people to stay at the school board,” he said.

Kativik Ilisarniliriniq spokesperson Jade Bernier declined to comment on the situation.

Prince Edward Islanders are in for a celestial treat tonight as a total lunar eclipse will be visible across P.E.I. and throughout Canada. Unlike last year's solar eclipse, it is safe to view with the naked eye.

TAIPEI, Taiwan — Taiwanese President Lai Ching-te has announced a sweeping set of national security measures in response to what he calls an intensifying campaign by China to undermine Taiwan’s sovereignty, infiltrate its military, establish a shadow army within the population by leveraging organized crime, and manipulate its society through psychological and media warfare. The 17-point strategy, revealed at a high-level national security meeting on Thursday, represents Taipei’s most expansive society-level response to date against Beijing’s growing pressure.

Lai warned that China’s united front social networks on Taiwanese soil now "satisfy the definition of a foreign hostile force" under Taiwan’s Anti-Infiltration Act, necessitating an "even more proactive response."

"China’s ambition over the past several decades to annex Taiwan and stamp out the Republic of China has not changed for even a day," President Lai stated, adding that Beijing’s "united front infiltration of Taiwan’s society grows ever more serious."

“A number of citizens have expressed similar concerns to me,” Lai said. “They have noticed cases in which members of the military, both active-duty and retired, have been bought out by China, sold intelligence, or even organized armed forces with plans to harm their own nation and its citizens.”

The government has identified five critical areas where China poses a direct threat to Taiwan’s security and democratic institutions. These include threats to national sovereignty through military and political coercion, infiltration and espionage targeting Taiwan’s military, efforts to obscure the national identity of the Taiwanese people, united front infiltration into Taiwanese society via cross-strait exchanges, and the use of economic incentives to attract Taiwanese businesspeople and youth in ways that serve Beijing’s interests.

Among the most significant policy shifts, the administration will overhaul military and national security laws, increase public awareness of travel risks to China, and impose tighter restrictions on exchanges with Chinese individuals and organizations. To combat espionage and internal threats, the government will restore the military trial system for cases involving sedition, intelligence leaks, and other security breaches by active-duty personnel. Military judges will be reintegrated into frontline judicial processes to collaborate with prosecutors in high-risk cases.

Lai’s announcement marks a shift in Taiwan’s approach, with new legal measures likely to attract significant criticism in some quarters as a retreat from democratic values. Ironically, these policies come amid increasing incidents of so-called "gray-zone" warfare tactics by China’s military off the island’s coast, as well as escalating tensions in the Taiwan Strait, where political, economic, and military frictions with China are surging.

Citing alarming statistics that underscore the risks for Taiwanese nationals traveling to China, Lai noted that since January 1, 2024, 71 Taiwanese have gone missing, been detained, interrogated, or imprisoned in China, with the real number likely much higher. Lai said his government will enhance travel advisories and implement stricter travel registration requirements for individuals crossing into China, aiming to minimize the risks posed by Beijing’s arbitrary detentions.

Guarding against political infiltration, new transparency requirements will be imposed on all government officials, mandating that their interactions with Chinese counterparts be made public to prevent covert influence operations. Additionally, religious and cultural organizations will be subject to new disclosure rules to prevent them from being co-opted by Beijing’s United Front Work Department, which has long sought to manipulate such groups for political gain.

Further steps will be taken to limit access to Taiwan for Chinese individuals with histories of working with the Communist Party’s united front agencies, who will now be barred from entry. Other applicants will face stricter vetting to ensure they are not engaged in influence operations. Taiwan will also closely monitor religious, cultural, and academic exchanges, ensuring they remain depoliticized and free of security risks.

Lai’s speech follows growing concerns over China’s intensifying efforts to infiltrate and divide Taiwanese society. The president referenced the work of strategic scholar Kerry K. Gershaneck, who has warned that China’s tactics include subversion, media control, and lawfare designed to "sow seeds of discord, keep Taiwan occupied with internal conflicts, and cause the public to ignore the real external threat."

Five Liberal MHAs, including three cabinet ministers, have thrown their support behind John Abbott for leadership of the provincial party.

There was a stark difference in the campaign announcements of Abbott and his cabinet colleague and opponent John Hogan.

Abbott announced his candidacy in the lobby of Confederation Building with no supporters from within the party in tow. Hogan, meanwhile, had all the bells and whistles at his campaign launch at the Hampton Inn & Suites, with several caucus colleagues and party executives there in support or attendance.

Hogan is shown with his family during launch of his leadership bid. (VOCM News)

Since then, cabinet ministers Lisa Dempster, Sarah Stoodley and Scott Reid, along with MHAs Perry Trimper and Lucy Stoyles, have all publicly declared they’ll be backing Abbott in the race.

Trimper says he has known Abbott for a decade through his time as a senior civil servant and as an elected official, adding he has watched him balance both of those aspects to provide “great depth.”

Stoodley described choosing who to support in the race as one of the “most emotionally difficult decisions” she has had to make as an MHA.

But she says she’s been impressed by Abbott’s policy work, fiscal restraint and problem-solving abilities.

“He’s helped me as an MHA, and my constituents of Mount Scio, as well as residents across the province with very unique solutions to challenging, complicated problems,” said Stoodley. “And he just cuts through the noise and works towards a solution. So I’ve been very impressed.”

The Niagara Regional Police ROPE squad have arrested a man they had been seeking on a firearm charge since early January. Tuesday, Niagara Police detectives located and arrested Anthony Angoy in Hamilton. The firearm used in the commission of the offence remains outstanding.

Angoy was on probation and under prohibition for possessing firearms when he visited an apartment in Niagara Falls on January 4^th. During the visit, a handgun was observed in the suspect’s waistband. As the suspect was fooling with the handgun it went off, striking a 1-year-old husky dog. The suspect then fled from the scene on foot with the handgun.

Responding officers observed the husky to be in medical distress and rushed her to an Emergency Veterinary Clinic in critical condition. Upon arrival at the Emergency Veterinary Clinic, immediate lifesaving efforts were initiated for the husky. Fortunately, the husky stabilized and was transferred to the Peoples Animal Welfare Society (PAWS). The husky has since been referred to a veterinary clinic outside the region for continued medical treatment.

The ROPE (Repeat Offender Parole Enforcement) Squad is a multi-agency, provincial team that locates and apprehends parolees unlawfully at large in …is a multi-agency, provincial team that locates and apprehends parolees unlawfully at large in the province of Ontario, as well as anyone who:

Escapes from secure custody

Escapes from or walks away from non-secure custody

Becomes unlawfully at large by violating bail, parole, or intermittent sentence terms

The ROPE Squad also assists other police services with locating and apprehending high-risk dangerous offenders.

Anyone who may have further information is asked to contact detectives at (905) 688-4111, option 3, ext. 1009707.

Members of the public who wish to provide information anonymously can contact Crime Stoppers of Niagara online or by calling 1-800-222-8477.

Today's Report:

Arrest Warrants

In the last 24 hours Police arrested five individuals on the strength of their Warrants of Arrest. Three were held in detention cells at Brandon Police Service (BPS) for court in the morning on March 12th, 2025, while two were released via Appearance Notice with court dates.

IPDA (Intoxicated Persons Detention Act)

On March 12th at 5:04PM Police responded to a call in the 400 block of Rosser Avenue. A highly intoxicated 46-year-old male was wandering in and out of traffic. To prevent injury to himself and further issues, he was arrested and held in detention cells. He will be released once sober.

Breach of Peace

On March 12th at 7:47PM Police were called to the 2500 block of McDonald Avenue for a possible assault. Two females, ages 22 and 25, were found to be the root of the issues. Both females were highly intoxicated and uncooperative. Both were arrested and will be released in the morning.

Structure Fire

On March 12th at 8:47AM 911 advised of a call stating there was a second-floor balcony fire in the 4100 block of McTavish Avenue. Upon arrival smoke was coming from a second story apartment. The complex was evacuated, and Brandon Fire and Emergency Services was able to extinguish the fire. No one was injured as a result of the fire. The fire is believed to have been non-suspicious.

Failure to Comply Court Order

On March 12th at 9:06PM Police attended a residence to remove a 36-year-old male who was refusing to leave his partner's home. He was on conditions not to have contact with her; however, she had been allowing him to stay but now could not get him to leave. Police located the male. He was removed and released on an Appearance Notice with a court date of May 26th, 2025.  

Earlier this week:

Arrest Warrants

On March 11th the Minnedosa RCMP requested Brandon Police Service (BPS) arrest a 34-year-old female on an outstanding Warrant of Arrest. BPS attended her residence on Piling Drive and arrested her. She was released on an Appearance Notice with a court date of June 17th, 2025.

On March 11th a 38-year-old male was located and arrested at his place of work on Braecrest Drive on an outstanding Maintenance Act Warrant. He was released on an Appearance Notice with a court date of April 11th, 2025.

IPDA (Intoxicated Persons Detention Act)

On March 11th at 2:20PM a report was received of an intoxicated male in a parking lot at Corral Centre. Police attended and located the highly intoxicated 39-year-old male. He was arrested, held in detention cells to prevent further issue, and will be released once sober.

 Theft Under $5000

On March 11th at 9:04PM Police were notified of a female stealing jewelry from a store in the 900 block of Victoria Avenue. Police located her outside of the store with $302 worth of stolen merchandise. The 36-year-old female had been drinking Listerine and was taken to Brandon Regional Health Centre to be medically cleared. She was held and will be released once sober with a court date of May 22nd, 2025.

Break and Enter, Possession of a Weapon, Resist Arrest

On March 11th at 9:10PM while attending a separate call in the 200 block of 9th Street, Police noted a male sitting on a bench in the 200 block of 8th Street. The male was recognized as a suspect from a Break and Enter that occurred on January 21st in the 200 block of Rosser Avenue. Upon approaching and attempting to arrest the male, he became very aggressive and resisted arrest. The 29-year-old male was held in detention cells and will attend court in the morning on March 12th, 2025.

Trespass Act

On March 11th at 00:56 am a business in the 2600 block of Victoria Avenue called to report a male they had banned from the store locked himself in the bathroom and was refusing to leave. A 33-year-old male was asked to leave by police and issued a ticket under the Trespass act.

Break, Enter and Theft

On March 11th at 04:28 am Police received an intrusion alarm at a business in the seven hundred block of third street. Police attended and found an insecure door. While police were clearing the business another responding officer came across a male walking away from the scene. The 31-year-old male was arrested for Break and Enter. He was searched incident to arrest and found to have office supplies from the business in his pockets. He was later released on an undertaking to appear in court on May 25th, 2025.

Failure to Comply Undertaking X2

On March 11th at 8:24PM Police attended a residence in the 300 block of Louise Avenue where a 27-year-old female was believed to have ID’s/cards in her wallet that were not hers. The female is on an Undertaking not to possess a financial card, which is not in her name. Two bankcards were found in her possession belonging to two separate people. She was charged and released on an Appearance Notice with a court date of May 22nd, 2025.

Arrest Warrants

On March 10th at 10:37 am a male turned himself into Brandon Police Service as he was aware there was an outstanding warrant for his arrest for failing to attend court. The 34-year-old male was arrested and released for court on April 24th, 2025.

On March 10th at 10:56 am Police attended to Brandon Correctional Center and arrested a 24-year-old female as she had an outstanding warrant for assault. She will appear in court on March 11th, 2025.

On March 10th at 3:19 pm Police received call from a business in the eight hundred block of Victoria avenue reporting teenagers in the store attempting to steal items. Police patrolled the area and located a 13-year-old male who was wanted for Mischief Under $5000. He was arrested and released to a guardian for court on April 8th, 2025.

On March 10th at 5:23 pm Police observed a female in the 000 block of 10th street who was known to have a warrant. The 22-year-old female was arrested for outstanding charges of theft and failing to attend court. She was released for court on April 8th, 2025.

Breach of Peace

On March 10th at 11:31 pm Police received a call of two intoxicated people sleeping in the hallway of an apartment complex in the three hundred block of 34th street. The pair were asked to leave but refused. A 33-year-old male and a 33-year-old female were arrested. They were lodged at Brandon Police detention cells and will be released once sober.

A pair of Kindersley residents were recently charged after a drug bust late last week that took place at a residence on Kindersley's Eighth Street West.

42-year-old Cameron Watson and 46-year-old Amanda Watson were each handed one count of possession for the purpose of trafficking under section 5(2) of the Controlled Drugs and Substances Act.

Saskatchewan RCMP's Kindersley Detachment and North Battleford Crime Reduction Team executed a search warrant at the home last Friday around 2:00 p.m. as a part of a drug trafficking investigation.

Police seized 135 grams of cocaine, unstamped tobacco, more than $400 in cash, and other drug trafficking paraphernalia. 

Cameron was arrested at the residence while Amanda was later arrested away from the home.

The Watson's first court appearance was on Monday in Saskatoon Provincial Court. 

The alleged attack happened on Barrington Street last month.