Former White House teleprompter operator Gabriel Perez was ordered to pay more than $172,000 for using inside information to bet on Donald Trump's speeches on the Kalshi prediction market. The Commodity Futures Trading Commission (CFTC) said Perez had misappropriated his prior knowledge of Trump's speeches to place bets between December 2025 and February 2026, violating his duty of trust and confidence. He must surrender $107,539.02 in profits and pay a $65,000 civil penalty, which the agency reduced after noting his cooperation with the investigation. Perez was also barred from trading for three years. Kalshi detected unusual betting activity on its mention markets in March and identified the user as a federal employee operating White House teleprompters before reporting the activity to the regulator. The company's lead lawyer, Bobby DeNault, said on X that violations of the platform’s rules or federal law would be met with consequences regardless of the individual’s identity. Kalshi noted in July that statements by political leaders such as presidents and Federal Reserve chairs can cause billions of dollars of movement in foreign‑exchange markets, oil futures and the stock market. The White House Management Office sent a letter to staff in the same month advising against placing bets on prediction markets, according to CBS News. The case underscores the CFTC’s enforcement of insider‑trading rules in the prediction‑market sector and the administration’s guidance to staff on participation in such markets.
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The United States and Canada remain locked in a trade dispute that has intensified since President Donald Trump's return to the White House in January 2025, with both sides impo...
The United States and Canada remain locked in a trade dispute that has intensified since President Donald Trump's return to the White House in January 2025, with both sides imposing tariffs on key sectors and goods.
The United States first applied tariffs to Canada’s steel, aluminium, lumber and automobile sectors, and last week added a 50 percent levy on about C$28 billion of Canadian goods. Canada responded with reciprocal tariffs on C$28 billion of U.S. products, describing the measures as “dollar‑for‑dollar” and “strategic” retaliation.
Ontario, the most populous province and a manufacturing hub, has seen layoffs and production cuts in auto parts and assembly plants, with tens of thousands of manufacturing jobs lost since early 2025. Quebec reported a 36 percent decline in metal exports between February 2025 and 2026 and a 3.6 percent drop in sector employment. The Royal Bank of Canada estimates that Ontario and Quebec are the regions most exposed to sectoral tariffs, while the Atlantic provinces and the western provinces are less affected.
Canada’s counter‑tariffs target C$28 billion of U.S. goods, including steel, furniture, cosmetics and toilet paper, and have hit swing states such as Ohio, Illinois and Pennsylvania hardest. Ohio faces C$3.2 billion in tariffs, or 12 percent of its exports, with steel and laundry machines among the affected products. Illinois sees tariffs on farm and construction equipment, while Derek Holt of Scotiabank noted that the measures appear aimed at influencing the upcoming midterm elections.
The average effective U.S. tariff rate on Canada rose from 2.9 percent in June to 5.7 percent, surpassing the rate on the United Kingdom and approaching that on the UK. Canada’s exports to non‑U.S. markets have increased since January 2025, and the government has pledged to double non‑U.S. exports over the next decade. Outclass owner Matteo Sgaramella said the reception in Europe has been strong, and some European stores are particularly enthused about supporting Canadian products. The Canadian Chamber of Commerce identified Oshawa, London and Kitchener‑Cambridge‑Waterloo as particularly vulnerable regions where export diversification is limited.
Foreign direct investment into Canada reached C$96.8 billion in 2025, the highest inflow since 2007. The economy grew 3.3 percent in the second quarter of 2026, driven by export gains and domestic investment, which has temporarily eased recession concerns. The government plans to host the first Canada Investment Summit in Toronto in September to attract further capital.
An analysis by the Canadian American Business Council estimates that failure to preserve the USMCA could eliminate tens of thousands of manufacturing jobs. Bank of Canada data show 55,000 manufacturing jobs lost in Canada from January 2025 to January 2026. If the new 50 percent tariffs persist, economist Trevor Tombe estimates total Canadian job losses could reach 90,000. In the United States, the Center for American Progress estimates tens of thousands of jobs have been lost in manufacturing, transportation and warehousing since the “Liberation Day” tariffs were imposed. The Tax Foundation estimates that the average American household could face about $840 higher costs this year due to tariffs on imports, including Canadian goods. Economists note that while Canada’s counter‑tariffs are targeted, manufacturers will face higher input costs.
The trade dispute remains unresolved, and the impact on jobs, prices and investment continues to evolve.
More than 48 U.S. researchers, representing over three‑quarters of 64 professors moving to Canada, will join Canadian universities under a C$504 million research program. The program, funded by a government pool, provides up to C$8 million per researcher over eight years for projects such as natural‑hazard preparedness and supports work in fields including climate change and medicine. Seth Guikema, a climate resiliency researcher at the University of Michigan, said the U.S. funding environment for climate and resilience work had become challenging and he sought a supportive intellectual home. Peter Caravan, a biopharmaceutical researcher formerly at Harvard Medical School, said he was moving to the University of British Columbia, while Steven Lamy of the University of Southern California noted that major grant agencies had been cut and politicized. Stephanie Burt of Harvard described the funding cuts as a generational disaster for science, and Lynn Pasquerella of the American Association of Colleges and Universities said institutions felt helpless and worried that the United States could become less attractive for knowledge pursuit. The relocation reflects broader trends, but it remains unclear how the policy shift will affect U.S. research capacity and Canada’s ability to sustain the influx of scholars.
Parents sometimes give more financial assistance to one child than another, a BBC report says. One man, identified as John, said his parents refused to lend him £10,000 for a house deposit after his partner ended the relationship, even though he said the amount was within their means. His brother received a deposit and ongoing support from the same parents. John, 47, said he grew up being expected to be financially independent, while his brother, 42, was 'coddled'. He said the perceived favouritism left him feeling isolated and affected his relationships. Dr Fenia Christodoulidi of Relate said that financial support often carries emotional meaning and that differences can be seen as favouritism, even when practical reasons exist. She emphasized that clear communication can reduce resentment. Ellis, 26, said her family has not experienced favouritism. Tasha, 33, a colleague, said her siblings have argued over perceived unequal support, though she believes her parents treat them equally. She noted that jealousy can cause temporary estrangement that is later resolved. John said attempts to discuss his feelings with his parents led to evasiveness, and he now plans for a future without inheritance, though he expects to support his parents if needed. Claire Webb, a solicitor and mediator, said disputes often arise when earlier financial gifts are mentioned in wills, creating feelings of unfairness. She recommended that parents clearly state their intentions while alive, and that siblings consider mediation before pursuing legal action. She added that most cases reach amicable solutions when the underlying family bond is addressed.