The Globe and Mail - 28.07.2026

2026-07-28 Boosty PDF 中文极简摘要

The Globe and Mail - 28.07.2026.pdf

  • Boosty 帖子:Newspapers - 28.07.2026
  • 医疗 / 艾伯塔省允许部分医疗检测私人付费:艾伯塔省将允许居民自费进行MRI、CT等诊断检测。若检测结果确诊为新癌症,政府将报销费用,旨在通过引入私人运营商优化医疗体系。
  • 领事馆 / 多伦多美国领事馆遭枪击袭击:多伦多美国领事馆数月内第二次遭受枪击,嫌疑车辆在高速追逐后逃逸。警方正调查此次袭击与此前雇佣枪手网络及犹太面包店枪击案的关联。
  • 社会 / 原住民妇女与女孩人口贩运路线研究:研究人员通过分析色情广告揭露贩子利用公路和机场在加拿大主要城市间转移原住民受害者。重点走廊包括多伦多至温哥华及艾伯塔省内部路线。
  • 科学/语言 / 全球语言数量急剧下降研究:耶鲁大学研究估算,全新世时期全球语言数量曾高达3万至7.5万种。由于帝国扩张和殖民主义驱动的语言替换,目前仅存约7,500种语言。
  • 本地新闻 / 卡尔加里自闭症男孩失踪搜寻结束:警方在搜寻失踪12天的11岁自闭症男孩Parker后结束地面行动。尽管如此,警方表示将继续审查证据并追踪线索,暂无刑事案件怀疑。
  • 国际新闻 / 西雅图美食节枪击案调查进展:西雅图警方表示美食节枪击案涉及至少三名嫌疑人,其中一名19岁枪手在现场死亡。一名15岁少年被拘留,案件疑与帮派冲突有关。
  • 国际新闻 / 马克龙应对法国特大野火:法国总统马克龙视察由于热浪引发的巨型野火,烧毁面积达巴黎4倍并导致22万人撤离。他将此描述为二战以来最严重的火灾危机。
  • 国际政治 / 美国与伊朗紧张局势下的外交斡旋:尽管特朗普称与伊朗有“良好对话”,但沙特石油设施遭伊朗支持武装袭击,局势依然紧张。卡塔尔和巴基斯坦正调解双方回归停火协议。
  • 国际政治 / 印度活动人士挑战AI监控:印度学生抗议者请求德里法院宣布大规模AI监控违宪,并要求销毁数据。此案成为衡量莫迪政府在公共集会中使用面部识别技术权力的试金石。
  • 基础设施 / 戈迪·豪国际大桥正式通车:连接温莎与底特律的64亿美元大桥在经历数月财务争议后通车。此前特朗普曾要求美国获得更多补偿,最终加拿大在收入分成上做出调整。
  • 美国政治 / 麦康奈尔健康状况更新:84岁的参议员麦康奈尔因跌倒住院后仍处于康复阶段,尚未获准离开物理治疗设施。因此他将错过家乡的年度政治野餐会。
  • 自然/野生动物 / 新斯科舍省罕见出现虎鲸:一只落单的虎鲸在坎索堤道附近出现并与小船近距离互动,引起公众惊叹。历史记录显示大西洋加拿大沿岸此类目击极为罕见。
  • 国际新闻 / 柏林同性恋骄傲节袭击事件:一名21岁伊斯兰极端主义者驾驶面包车冲向柏林骄傲节人群,导致1死29伤。尽管部署了2,200名警员,袭击者仍绕过安全警戒线实施攻击。
  • 社论 / 安大略省消防预算严重不足:社论批评福特政府在消防预算上掩耳盗铃,连续多年实际支出远超拨款(如去年缺口达1.36亿加元),主张应增加预防性投资。
  • 健康 / 健康寿命延长研究:《柳叶刀公共卫生》研究指出,尽管人类寿命延长,但富裕国家如加美两国的“发病率差距”在扩大,主张应关注健康寿命而非单纯寿命。
  • 人物/健康 / 歌手卡莉·西蒙公开患帕金森病:83岁的歌手卡莉·西蒙宣布被诊断出患有帕金森病,导致行动能力下降且极易疲惫。她通过公开声明呼吁公众理解该疾病的不可预测性。
  • 本地政治 / 多伦多市长要求归还岛屿土地:市长奥利维亚·乔要求省政府在联邦否决机场扩建计划后,归还之前通过Bill 110征收的岛屿土地。
  • 金融/投资 / 布鲁克菲尔德筹集20亿美元中东基金:布鲁克菲尔德资产管理公司为其BMEP基金首次交割筹集约20亿美元,由沙特PIF领投,旨在投资沙特及海湾地区的能源基础设施。
  • 金融/美联储 / 美联储主席沃什面临利率抉择:新任主席沃什需决定是否提高借贷成本以抑制通胀,但在伊朗战争导致油价上涨与特朗普要求低利率之间面临两难抉择。
  • 商业/IPO / Shein香港IPO估值遭质疑:Shein寻求400-500亿美元估值,但招股书显示其营收增长放缓且第一季度亏损9900万美元,投资者对其盈利能力表示担忧。
  • 商业/科技 / 中国芯片商CXMT首秀暴涨:CXMT在上海上市首日股价飙升466%,市值达到3.3万亿元,成为中国市值最高上市公司,凸显北京推动芯片自给自足的战略意图。

[!WARNING] 翻译质量评估未完全通过 (Quality Audit Failed) 发现以下潜在质量问题: - missing numeric tokens from source: 38.6 - Missing proper nouns in translation: Abigail Martin, Above All, Acting Staff Sergeant Scott Guterson, Acting Staff Sgt, Agnico Eagle Mines Ltd, Air Force One, Alex Eala, Alexander Zverev, Alfonso Pantisano, Amanda Anisimova - source dates, money, or percentage tokens may be missing

The Globe and Mail - 28.07.2026.pdf 中文镜像版

Page 1

艾伯塔省定于周五起

允许部分 医疗检测 由私人付费

T

马修·斯凯斯 (MATTHEW SCACE) 卡尔加里

从周五开始,艾伯塔省的居民将能够自行决定是否需要一系列医疗诊断检测,并且能够支付私人供应商来执行这些检测。

省长丹尼尔·史密斯 (Danielle Smith) 周一表示,如果检测结果确诊为新癌症,省政府将报销扫描费用。此举是艾伯塔省重塑其医疗保健系统努力的又一步。

新规定虽然未能达到史密斯女士政府去年承诺的程度,但尽管如此,这标志着艾伯塔省在鼓励私人医疗保健运营商在该省设立机构方面的尝试有所扩展。

在周五新政策生效之前,艾伯塔省的患者在没有医生转诊的情况下,获取核磁共振成像 (MRI)、CT 扫描、超声波和 X 光检查的能力受到限制。

这些法规更详细地阐述了史密斯女士政府打算如何利用今年早些时候通过的立法,为居民获得自诊检测的报销铺平道路。

“这种新方法补充并强化了艾伯塔省的公共医疗保健系统。它不会取代公共系统,”史密斯女士在周一的新闻发布会上说道。

“医疗必需的护理将像往常一样,保持优先地位并由公共资金资助。”

检测,A15

警方调查

多伦多美国领事馆 数月内第二次 遭受袭击

马修·弗兰克 (MATTHEW FRANK)

周一清晨,一名枪手在多伦多的美国领事馆开枪,并在该市市中心引发了一场警方的极速追逐。四个月前,同一地点曾发生过一起类似的枪击事件,调查人员认为该事件与一个所谓的雇佣枪手网络有关。

多伦多警察局的副局长弗兰克·巴雷多 (Frank Barredo) 表示,调查人员正在研究两次领事馆袭击之间是否有关联,或者与周末该市另一处犹太人经营的面包店发生的枪击事件是否有联系。但他提醒称,调查仍处于早期阶段。

警方表示,在 3 月枪击事件后,作为加强安保措施的一部分,一名驻守在美国领事馆的警员在凌晨 5 点前听到枪击声。

据报道没有人员受伤。

巴雷多副局长在新闻发布会上告诉记者,该警员看到一辆没有车牌的白色本田雅阁轿车逃离现场。他说,该警员通知了附近的一辆巡逻车,随后巡逻车以超过 140 公里每小时的速度追击该车辆,但由于安全协议而终止了追逐。

他表示,警方目前还没有任何嫌疑人。

“在几乎所有其他的枪击案中,我们都实施了逮捕,其中一次多伦多警察局付出了巨大的代价,”巴雷多副局长在现场告诉记者。

领事馆,A3

体操运动员 Lia-Monica Fontaine(左上)、Félix Dolci(右上)和 Jordan Carroll(左上上方)周一均在各自项目中获得金牌,随后投掷项目选手 Ethan Katzberg(右上上方)为当天的金牌总数增加了第四枚。 顶部,左上:LINTAO ZHANG/GETTY IMAGES;右上:KIN CHEUNG/AP;右上上方:BEN STANSALL/AFP VIA GETTY IMAGES

在线色情广告揭露

全国范围内贩运 原住民妇女与女孩 的路线

特穆尔·杜拉尼 (TEMUR DURRANI) 温尼伯

一项关于失踪和被杀害的原住民妇女与女孩的新研究表明,人口贩子正在利用该国的公路和机场,建立走廊以便在加拿大主要城市之间转移受害者。

研究人员通过检查过去十年中在网上发布的数千条色情广告,绘制了这些路线。分析人员识别出特别声称涉及原住民妇女或女孩的广告,然后监测广告发布地点的变化,以追踪受害者的移动。

数据表明,贩子们经常...

在蒙特利尔,过去的肾脏捐赠者和受捐者

帮助缓解犹豫患者的焦虑

KRISTY KIRKUP 健康记者 蒙特利尔

行间关怀

十二年前,面对严重的肾脏疾病,Serge Pisapia 需要进行移植,并且已经进行了数年的腹膜透析。尽管他的妹妹 Christine 已经通过了各项检测,并在医学上被认定符合捐赠条件,但他仍然犹豫是否接受右肾。 “Serge 是一个非常不情愿的受捐者,” 62 岁的 Pisapia 女士在一次采访中说道,“他并不想要我的肾脏。”

山火 马克龙警告将是一场持久战,并在法国全力控制大规模火灾之际承诺提供支持 A4

探索我们的全国信息自由请求数据库 SecretCanada.com

[ 体育 ]

加拿大在格拉斯哥举行的英联邦运动会中取得辉煌的一天,在体操项目中夺得三金,在 the hammer throw(链球)项目中夺得一金 B14

数量累计

经常地将安大略省作为起点。 在加拿大最常用的走廊是多伦多与温哥华之间。紧随其后的是从埃德蒙顿到艾伯塔省的 Fort McMurray;卡尔加里到埃德蒙顿;以及安大略省的 Belleville 到埃德蒙顿。 这些是汤森路透一份新报告中的关键发现——该报告题为《看不见、未知且未解决:加拿大和美国原住民个体的失踪与贩卖》(Unseen, Unknown, and Unsolved: Disappearances and Trafficking of Indigenous Individuals in Canada & the United States),定于周二发布。 汤森路透社会影响与人权高级顾问 Heather Panton 表示,该报告旨在使隐藏的模式变得可见。 “我们希望提供实用的信息,以帮助政策制定者、执法机构、非营利组织和社区合作伙伴更好地检测、预防和应对这种剥削,”她在采访中说道。 该报告目前已进入第二年年度迭代,确定了从 2025 年 5 月到 2026 年 3 月期间,全加拿大境内至少有 38 起活跃且未解决的原住民妇女与女孩失踪案。当研究人员查阅各种来源以获取这些数据时——例如来自原住民警报网络(Aboriginal Alert network)、加拿大皇家骑警(RCMP)和活动团体的信息——他们发现失踪热点已在大多伦多地区和不列颠哥伦比亚省的 Prince George 出现,并持续存在于曼尼托巴省和艾伯塔省的社区中。

贩卖,A8

自那时起,很多事情发生了变化,包括 Pisapia 先生的生命周期。2014 年 11 月,他接受了妹妹的肾脏,当他在恢复室醒来时,立即感到精力大增。现在,70 岁的他每天服用几种药物,检测结果显示他状况良好。 两人利用这次经历,在蒙特利尔的移植大使计划(Transplant Ambassador Program)中担任志愿者。 该计划由一家非营利组织运行,于 2017 年在安大略省启动,并于去年三月扩展到魁北克省。它将患有慢性肾脏疾病的患者及其家人与同样经历过移植或捐赠的志愿者联系起来。 移植大使计划是魁北克省的首创——在蒙特利尔总医院运作——并借鉴了共同创始人 Susan McKenzie 的长期努力,后者在 2010 年接受了其嫂子/弟媳的肾脏,并成为一名移植倡导者。 移植大使的工作旨在填补护理缺口:他们可以提供关于自身经验的宝贵的、第一手的知识,而这是医疗保健提供者所不具备的。 这对兄妹表示,大多数患者在考虑接受来自家庭成员的肾脏时都会犹豫。他们经常分享对自己关心的人的健康可能受到移植影响的恐惧,这导致了愧疚感的产生。

移植,A15

商业报告 布鲁克菲尔德为中东私募股权基金筹集 $2-billion B1

(HDFFC|00002V /t.a

第 2 页

Bulthaup Toronto Inc. 280 King Street East Toronto, ON M5A 1K7

G

+1 416 361 9005 toronto@bulthaup.ca toronto.bulthaup.com

伊莎贝尔·麦克劳林 (ISABEL McLAUGHLIN),《金矿,柯克兰湖》(GOLDMINE, KIRKLAND LAKE),1932, 布面油画,106.7 × 86.4 厘米。由诺拉·麦卡洛 (NORAH McCULLOUGH) 的家人和朋友于 1993. 纪念捐赠。格尔夫美术馆 (ART GALLERY OF GUELPH) 麦克唐纳·斯图尔特艺术中心 (MACDONALD STEWART ART CENTRE) 馆藏。

整个七月,我们将展出格尔夫美术馆 (Art Gallery of Guelph) 的艺术作品,该馆是加拿大首屈一指的文化空间之一。AGG 涵盖了历史和当代艺术,拥有 11,000 多件艺术作品,并拥有加拿大公共艺术博物馆中最大的雕塑公园。该馆集结了来自加拿大及其以外的多元艺术之声,从早期的汤姆·汤姆森 (Tom Thomson) 和七人画派 (Group of Seven) 成员的作品,到原住民、梅蒂斯 (Métis) 和因纽特 (Inuit) 艺术家的当代作品。artgalleryofguelph.ca

伊莎贝尔·麦克劳林通过在抽象与对景观和工业的细致观察之间取得平衡的绘画作品,推进了加拿大现代主义。在《金矿,柯克兰湖》中,她使用简化的形式、律动几何形状和精心构建的色彩,描绘了安大略省北部矿区的工业结构。该作品创作于快速发展时期,反映了麦克劳林女士对现代工业如何改变加拿大物理景观和地域体验的兴趣。

SANJAY RUPARELIA

观点 (OPINION)

蟑螂人民党 (Cockroach Janata Party) 的崛起表明了 印度青年的政治力量 A11

《环球邮报》(The Globe and Mail) 致力于维持最高的伦理、法律和编辑标准。 SANDRA E. MARTIN,标准编辑,standardseditor@globeandmail.com

研究记录了全球使用语言数量的急剧下降

WILL DUNHAM 华盛顿

在全球范围内,目前人们大约使用 7,500 种语言,其中英语、中文普通话、印地语、西班牙语、阿拉伯语和法语最为常见(包括母语和非母语使用者)。这已经是很多语言了,但与历史上的最高数量相比仍相去甚远。

研究人员利用数学建模以及人类学、语言学和人口统计学的见解,估算了回溯到约 12,000 年前(大约在上一次冰河时代结束时)的全球使用语言数量,覆盖了一个被称为全新世 (Holocene epoch) 的时间篇章。他们确定了一个横跨公元前第一个千年和公元后第一个千年的时期,当时人类可能说过数万种不同的语言。

研究人员还绘制了自这个语言“黄金时代”以来出现的主要下降趋势,这是由于语言替换驱动的,其因素包括古代大帝国的扩张以及过去几个世纪的欧洲殖民主义。

“语言对它们的社区具有深远意义。它们承载着知识、关联和记忆,”康涅狄格州耶鲁大学语言学和人类学教授、这项发表在《科学》(Science) 杂志上的研究项目的领导者克莱尔·鲍恩 (Claire Bowern) 表示。

“对于科学家来说,语言承载了关于过去的巨大信息量,从人们居住在哪里到他们吃什么,以及他们谈论什么。它们还为我们提供了一个洞察人类思维的窗口,”鲍恩教授说道。

许多语系兴起并演变,其中书面语——

[ 专栏作家 ]

第一

人称

Renee Alkass 颈上的伤疤 提醒着她曾足够坚强 地生存下来 A13

[[IMG_XXXX]] 这张照片拍摄于五月,展现了位于伊拉克南部齐加尔省(Dhi Qar province)古代城市乌尔(Ur)的大齐古拉特神庙中的楔形文字。 ASSAD NIYAZI/AFP VIA GETTY IMAGES

语言最终出现,首先是在美索不达米亚——公元前第四千禧年期间以楔形文字书写的苏美尔语——以及在埃及、中国和中美洲等地独立出现。 研究人员估计,全球在任何一个时间点所使用的不同语言数量,最高范围在 30,000 到潜在的 75,000 种之间。 研究人员使用了涵盖非洲、南美洲和东南亚 171 个现存狩猎采集社会的资料,以评估全新世初期的民族语言群体(每个群体代表一种截然不同的语言)的规模。他们将此应用于当时人类人口的估算。 人们分散在世界各地的各个小部落中,以游牧狩猎采集者的方式生活,农业的兴起以及永久定居点和更复杂文化的建立尚在未来。研究人员估计,大约 12,000 年前这些分散的人口可能说着 4,500 到 6,200 种语言。 随着全球人口在随后的数千年中逐渐增长,人类社会发生变化,语言的数量也随之增加。 无数主要和次要语言在历史中出现又消失。仅举几个例子,包括苏美尔语、赫梯语、阿卡德语和伊特鲁里亚语,以及古埃及和古中国的各种语言,和一些非洲的咔哒语。 “说那种语言的人被杀死了,或者说那种语言的人转向——或被强迫转向——另一种语言,”Bowern 教授说。 Bowern 教授还指出,古语言可以演变成新语言,就像古罗马的语言拉丁语,在西罗马帝国于公元 476 年灭亡后的几个世纪里,演变成了包括法语、意大利语和西班牙语在内的语言。

退休人员在 高通胀时代 必须像所有人一样 做出妥协 B8

第 3 页

警方结束对卡尔加里男孩的地面搜寻

Parker 患有自闭症且无法言语, 近两周前从一家日托中心走失

BILL GRAVELAND 卡尔加里

警方于周一结束了对一名卡尔加里男孩的地面搜寻,此前这名 11 岁的男孩在从一家日托中心走失后已过去 12 天。 局长 Katie McLellan 表示,警员们正重新聚焦于对 Parker 失踪事件的调查。 她表示,警员们不会停止寻找这个男孩,并将审查证据、追踪线索并寻求新突破。 “Parker 依然失踪的事实对我们所有人来说都很艰难,”McLellan 局长告诉记者。“我们不会放弃。” 该男孩患有自闭症且无法言语。警方尚未公布其姓氏,并表示他们不怀疑有刑事案件发生。 数百名警员和志愿者在地面和空中、水域以及通过敲门走访寻找这个男孩。 居民被要求检查后院、棚屋、车库和平台下方。 Parker 家属提供的关于他的兴趣和行为的信息有助于引导

警员表示西雅图枪击案

至少涉及三名嫌疑人

简·约翰逊 (GENE JOHNSON) 西雅图

警方周一表示,在周末发生在西雅图太空针塔附近一个拥挤的美食节上的枪击事件中,至少有三名嫌疑人参与其中。其中一名嫌疑人在暴力冲突中被杀。在一份提交给西雅图少年法庭的文件中(一名在该案中被捕的 15 岁少年周一放弃了初次出庭),警方表示他们认为至少有三名枪手,而非两名:即该 15 岁少年、一名在现场死亡的熟人,以及“至少一名其他未知嫌疑人”。西雅图警察局调查助理局长尼科尔·鲍威尔 (Nicole Powell) 在周一下午的新闻发布会上表示,调查人员认为此次枪击事件可能与帮派有关,是两组人员在互相开火。死去的枪手年方 19 岁。一名法官命令将该 15 岁少年羁押在少年拘留所,以调查其违反枪支法规和一级袭击罪的行为。

金县检察官办公室表示,预计将于周三从西雅图警方接管此案,以决定起诉方案。枪击事件发生在周日晚上 6 点左右,正值“西雅图之咬” (Bite of Seattle) 美食节接近尾声之时,导致三人死亡,至少四人受伤,其中包括一名幼儿。这一年度为期三天的节日吸引了数百家食品和零售供应商以及表演者来到西雅图中心——一个位于太空针塔阴影下的广阔公园。许多参与者在听到枪声后冲进校园建筑或逃离公园。关于至少有三名嫌疑人的消息,是在市级官员就此次枪击事件发表了一系列混乱的声明之后传出的。周日,警察局在等待五小时后才向公众透露一名枪手已被逮捕,且他们认为另一名枪手在逃。早些时候,市长凯蒂·威尔逊 (Katie Wilson) 宣布有两人被拘留,但随后她撤回了这一声明。在周一法庭听证会前的新闻发布会上,警察局局长肖恩·巴恩斯 (Shon Barnes) 表示,调查人员不确定第二名枪手是否在死者之列。他与市长均未提及有额外的枪手。巴恩斯局长周日不在城内,而是在达拉斯参加一个黑人执法行政人员会议。官员们为其处理此案的方式辩护,称他们试图确保就混乱事件提供准确的信息。

金县法医办公室周一确认死者身份为:卡洛斯·以色列·桑切斯·比利亚尔巴 (Carlos Israel Sanchez Villalba),44 岁;阿什利·怀特海德 (Ashley Whitehead),56 岁;以及朱尼尔·西·尼科·塞莫 (Junior Cee Niko Semo),19 岁。根据周一开始发起的一场旨在帮助其家属支付葬礼费用的 GoFundMe 众筹活动,比利亚尔巴先生是一位丈夫且育有三个孩子,以善良和乐于助人而著称。法医办公室表示,他是死于躯干部的枪伤。四名受伤者中包括一名两岁男孩,其周一情况良好。医院发言人表示,其余三人——两名男子(年龄分别为 23 和 27 岁)以及一名女子(39 岁)——已出院。法庭文件显示,其中一名受害者在被击中时正推着自行车。该幼儿当时与母亲在一起。

供应商被允许在周一早晨返回校园收拾设备。人们逃离时留下的物品中,包括烤架上的鱿鱼串、烤箱里的烤鸭以及装满食物的盘子。在枪击地点附近,依然可以看到一滩看起来像血的污渍。周一晚上,在中心的国际喷泉处计划举行一场烛光守夜活动。当局表示,数十名警员在活动现场提供安保并于数秒内做出反应,其中至少一名警员目击了嫌疑人开火。警方搜查了一处

Imax影院位于他们最初认为第二名枪手逃离的场地内。在节庆活动中经营缅甸美食摊位的亚当·隆巴多(Adam Lombardo)将逃离人群的恐慌描述为一场“踩踏”。他在周一收拾设备时,描述了警方如何护送食品供应商回到犯罪现场,以便关闭他们的烤箱和炉灶。“这真的很令人悲伤,因为你想到有三个无辜的人无法与他们的家人团聚,”他说。“他们只是来和人们、朋友以及新朋友一起享受美食节,却在听起来毫无意义的血腥冲突中失去了生命。”根据该网站的数据,该节庆活动始于 1982 年,吸引 350,000 名参与者。

警方继续调查在卡尔加里失踪的一名 11 岁男孩。帕克(Parker)于 7 月 16 日正午前从其日托中心失踪。 JEFF McINTOSH/ THE CANADIAN PRESS(加拿大新闻社)

THE CANADIAN PRESS(加拿大新闻路透社)

部分搜寻工作。警员们在巡逻车中播放帕克最喜欢的迪士尼歌曲,试图将其引出。由于帕克的神经系统疾病,搜寻工作变得更加复杂。警方提醒,如果被陌生人面对,他可能会感到害怕。他们请求公众如果发现该男孩,不要上前接触,而应在其身后跟随并拨打警方电话。帕克于 7 月 16 日正午前从其日托中心失踪。附近发现了被认为属于他的衣物。 shortly 之后,闭路电视(CCTV)画面捕捉到他赤裸上身,佩戴着黑色降噪耳机。

周一早晨,警察在多伦多美国领事馆外的枪击现场工作。 SAMMY KOGAN/THE CANADIAN PRESS(加拿大新闻社)

领事馆:RCMP 与国际合作伙伴共同调查多伦多枪击事件

来自 A1 版

“因此,我们将继续以同样的努力程度、同样的信念和奉献精神来处理此事。” 今年 3 月,两人向领事馆大楼开枪,警方随后指称这是某个雇佣枪手网络的一部分。上个月,在一次针对该案嫌疑人的警方突袭行动中,一名警员被杀。 美国检察官此前将 3 月的枪击事件与一名涉嫌与伊朗伊斯兰革命卫队有联系的伊拉克恐怖分子联系在一起。 RCMP 的警监 Jonathan Ko 在周一的新闻发布会上表示,国家级部队也参与了调查,并与他所描述的国际合作伙伴协作,但他没有详细说明。 他表示,目前确定此次最新枪击事件的动机还为时过早。 周一上午,可以看到领事馆的警察在检查大楼外墙上的一个弹孔以及地面上的一个弹壳,副局长 Barredo 表示该弹壳来自一把手枪。 市中心的主要交叉路口 University Avenue 与 Dundas Street 交汇处对车辆和行人关闭了数小时。 美国领事馆感谢多伦多警察局的响应,并在周一下午的一份声明中表示,各项运作已恢复。 在周一的新闻发布会上,多伦多市长 Olivia Chow 重申了她本月初的呼吁,要求将非法美国枪支从城市街道上清除,并追究枪手的责任。 “今天清晨,有人向美国领事馆开枪。当时一辆警车就在正前方,警灯闪烁,”她说。“这是一次胆大妄为的袭击。” 安大略省省长 Doug Ford 在周一发布的一篇 X 帖子中表示,他对瞄准美国领事馆和犹太人经营的面包店的行为感到“厌恶”。 上个月,警方逮捕并起诉了两名被指控在 3 月向领事馆大楼开枪的男子,并将他们与一个更大的雇佣枪手网络联系起来,据称该网络曾瞄准犹太会堂和企业。

上个月,警方逮捕并起诉了两名被指控在 3 月向领事馆大楼开枪的男子,并将他们与一个更大的雇佣枪手网络联系起来,据称该网络曾瞄准犹太会堂和企业。

在搜寻初期,Parker 的家人发表声明称他是一位“深受喜爱的儿子、兄弟和朋友”。 “他的失踪令我们全家心碎。自从他失踪以来,我们全家一直生活在每个父母最可怕的噩梦中,”他们说。“在不知道他在哪里或是否安全的情况下,流逝的每一小时对我们来说都极其艰难。” 这次搜寻动员了公众,但也暴露了社交媒体时代公众参与的问题。 警方在数百条线索中艰难筛选,并表示由于出现了使用人工智能创建的、声称显示 Parker 或提供其行踪信息的篡改图像和视频,导致搜寻进度放缓。 一份虚假报告称该男孩已被发现死亡,一个欺诈性的 GoFundMe 页面也被创建。 这次搜寻还引发了关于在弱势儿童失踪时如何提醒公众的问题。Amber Alert(琥珀警报)是为被绑架且处于严重危险中的儿童广播的。 在 Parker 的案例中,Amber Alert 在搜寻的第二天作为特例发布。 一群母亲发起了请愿,敦促官员开展类似的广泛宣传活动

警方指控 Zara Jabbi 和共同被告 Sheldon Tracey-Stewart 盗走了一辆 SUV,驾驶至美国领事馆,并在弃车前多次向该建筑开枪。

Jabbi 先生面临六项指控,包括盗窃车辆以及袭击“国际受保护人士场所”。“国际受保护人士”是联合国对外国显要人物的定义。加拿大有义务为他们提供增强保护。

Tracey-Stewart 先生面临 11 项指控,包括盗窃车辆、非法持有枪支和开火。

针对他们的指控尚未经过法庭审理。

当时,多伦多警察局指控该雇佣枪手网络与市内的 27 起枪击事件有关。

针对包括神经多样性儿童在内的类别发送紧急信息。

在警方的战术行动中心里,一系列彩色地图标出了搜索人员在寻找 Parker 过程中反复覆盖的市区区域。

“我们感到非常沮丧,”警长 Rich Wall 表示,并补充说警员们在寻找这个男孩上花费了超过 5,500 小时。

“我们实际可搜索的区域已经全部排查完毕,但我们仍在继续。这还没有结束,”他说。

“这是一个拼图,我们正在寻找最后几个小碎片,以拼出完整的画面。”

Wall 警长补充说,公众不应低估 Parker。

“我们知道他患有自闭症。但在身体素质上他很健康,能够走很远且走得很快。”

代理高级警长 Scott Guterson 表示,仍鼓励人们提供关于 Parker 的线索和其他信息。

“我们不再是对某个大区域进行搜索,而是让调查引导我们,确定那些具体的精准搜索应该在何处进行。”

代理高级警长 Guterson 表示,警方希望 Parker 仍然活着。

“但从现实来看,每过去一天,这种希望就越渺茫,因此我们继续请求公众的帮助。”

警方在周末表示,他们正在调查周六深夜在 Yonge 街和 St. Clair Avenue West 区域一家犹太人经营的面包店发生的枪击事件。

据报道,由同一商家经营的另一家面包店窗户也遭到损坏,但在该地点没有发现枪击证据。

警方表示,两处地点均无人员受伤。警方的仇恨犯罪部门及其枪支与帮派任务小组均参与了此次调查。

巴雷多副局长周一表示,调查人员尚未排除面包店枪击事件与更广泛的雇佣枪手网络调查之间的联系,但他表示目前没有可分享的信息。

美国检察官和 FBI 此前将 3 月份在领事馆发生的枪击事件与 Mohammad Baqer Saad Dawood Al-Saadi 联系起来,据称此人是一名与伊朗伊斯兰革命卫队有联系的伊拉克恐怖分子。他在 5 月在土耳其被捕,目前仍被美国拘留。

多伦多警察局尚未确认 Al-Saadi 先生与市内袭击事件之间有任何联系。

《环球邮报》上月曾报道,警方认为领事馆枪击事件与一个规模更大的雇佣枪手网络有关,调查人员已将该网络与针对企业的袭击(包括废物管理公司 GFL Environmental 和拖车公司)以及私人住宅的袭击联系起来。这一消息来自一名不愿具名的消息人士,因为该人士未获授权公开讨论此案。

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马克龙警告野火之战将耗时较久

吉龙德省的火灾 已烧毁面积为 巴黎 4 倍的地区, 并迫使 220,000 人 逃离家园

马克·卡尔森 (MARK CARLSON) 艾玛·达·席尔瓦 (EMMA DA SILVA) 约翰·莱斯特 (JOHN LEICESTER) 法国,勒卡普费雷 (LEGE-CAP FERRET, FRANCE)

法国总统埃马纽埃尔·马克龙 (Emmanuel Macron) 在周一奋力控制一场巨型野火时,敦促消防队伍“保持坚强”,并警告这场战斗将耗时较久,但誓言:“我们将共同赢得这场战斗。”

在视察法国西南部大规模灭火协调中心时,马克龙先生了解到,自上周以来肆虐的这场大火具有极强的不可预测性,有时会演变成一种自我维持的火风暴,其烧毁面积为巴黎的 4 倍,并迫使 220,000 人逃离家园。

“我们正面临一场完全前所未有的火灾,”马克龙先生说道,他将此次情况描述为法国自第二次世界大战以来最严重的火灾相关危机。

他赞扬了在经历了数日火势向葡萄酒之都波尔多 (Bordeaux) 蔓延后,于周一成功阻止火势进一步扩张的消防团队。但由于林区仍在阴燃,他和其他政府官员提醒,战斗尚未结束,因为今年的连续热浪已使森林变得像tinder(干燥的引火物)一样干燥,且本周预计还将迎来另一波热浪。

“接下来的几周将会很艰难。我们必须坚定立场,”马克龙先生说道。

随着数千名消防员在现场部署,以及水上飞机和阻燃剂投放飞机的轮番作业,周一成了一场与时间的赛跑,旨在气温飙升前控制住火势;国家气象局预测,从周二起,法国西南部气温将达到 35 C 或更高。

当局目前还在努力为疏散人员提供食物、住所和照顾。

特朗普称与伊朗进行“良好对话”,但袭击事件揭示紧张局势依然存在

SAMY MAGDY ELENA BECATOROS 开罗

地区官员周一表示,在双方经历一段时间迅速升级的紧张局势并暂停袭击后,调解员在促使美国和伊朗重回谈判桌方面取得了进展。但该地区武装组织发起的零星袭击凸显了依然存在的紧张局势。沙特阿拉伯表示,其击落了由伊朗支持的伊拉克民兵发射的、针对其石油设施的无人机。与此同时,也门境内受伊朗支持的胡塞武装声称,作为一场独立但相关冲突的一部分,他们袭击了沙特的石油设施。目前尚不清楚他们指的是否为同一场袭击。美国和伊朗均未报告在三天内进行了任何袭击——在经历了约两周持续轰炸并导致人们日益担心重返全面战争之后,局势得到了暂时的缓解。美国总统唐纳德·特朗普表示,伊朗要求进行更多讨论,并直接接触, “因为我们一直在对他们进行猛烈打击。”伊朗则表示目前没有进行直接对话。

“我们正在进行良好的对话,所以我们将看看会发生什么,”特朗普周一在空军一号上告诉记者。“我认为很有可能会有结果。如果成功了,那很好。如果没有,我们就回到两天前所做的事情上。”两名在匿名条件下讨论闭门谈判的地区官员表示,由卡塔尔和巴基斯坦领导的调解员正努力弥合华盛顿与德黑兰之间的分歧,以回归在交火后崩塌的临时停火协议。除了对沙特阿拉伯的袭击外,周一据报道,伊拉克的一个库尔德伊朗异议团体遭到两次无人机袭击,而约旦表示击落了两架无人机,但未说明其来源。目前没有人员伤亡或财产损失的报告。

与此同时,伊朗和

[[IMG_XXXX]] 周一,在法国大部分地区经历热浪、干旱和水短缺后,一名消防员在吉伦特省的圣让-迪拉克(Saint-Jean-d’Illac)与野火搏斗。MANON CRUZ/路透社

[[IMG_XXXX]] 周一,在西班牙查皮内里亚(Chapinería),一场野火迫使数万人撤离,现场留有被焚毁的车辆。MANU FERNANDEZ/美联社

(接上文)乌克兰自……以来一直公开争执。

周末,乌克兰在里海向至少一艘伊朗船只开火。伊朗表示一名水手在袭击中丧生;伊朗是俄罗斯在对抗乌克兰战争中的重要盟友,并帮助莫斯科建立其无人机专业技术。在经历了近两周的升级局势(由伊朗向试图通过霍尔木兹海峡——这一全球石油运输关键水道——的船只开火所引发)后,美国在针对伊朗沿海地区和基础设施进行打击后暂停了袭击。美国驻联合国大使迈克·沃尔兹(Mike Waltz)告诉福克斯新闻(Fox News),特朗普先生正在“给对话留出空间。他给了它一定的余地”。沃尔兹否认了关于美国防御伊朗袭击至关重要的拦截弹库存不足的说法,但专家质疑美国和伊朗究竟能承受多久的持续袭击。在美方暂停后,伊朗也停止了袭击,德黑兰军队……

(此处为页面碎片,内容不连贯) ……逃离的人数惊人:西南地区有 250,000 人被两场大火驱离。 马克龙先生谈到了被这场动荡搞得“心有创伤”且“有时失去一切”的流离失所者。 周一没有宣布新的撤离计划。 但随着法国即将进入八月旅游高峰期,当局……

发言人在周日告诉伊朗国家电视台。周一接受美联社采访的一位地区官员将调解工作取得的进展描述为“显著”。他表示,调解员正与伊朗和阿曼就管理船只通过霍尔木兹海峡(近期袭击与反击的爆发点)的机制进行合作。伊朗外交部发言人埃斯马伊尔·巴盖伊(Esmail Baghaei)在周一于德黑兰举行的新闻发布会上表示,“调解员可能会向我们传达来自美国方面的信息”,但目前没有直接谈判。他表示,伊朗与位于霍尔木兹海峡另一侧的阿曼已于周五和周六就如何管理该水域的航运流量举行了会谈。巴盖伊先生表示,他们的目标是“在尊重两个沿海国家的主权权利和主权,以及伊朗的安全和国家利益的同时,制定确保通过霍尔木兹海峡安全航行的机制”。他强调,该水域目前仍处于关闭状态。德黑兰方面断言,其与美国达成的临时协议允许其管理该水域的航运并可能收取费用,且该方反对美国支持经过阿曼附近替代路线的尝试。在战争爆发前,该海峡对所有人开放且不收费用。美国军方周一表示,其近期重新实施的针对伊朗的海上封锁仍在继续,已有 17 艘商业船只被重新引导,两艘被禁用,两艘被登临。6月中旬临时协议确立的 60 天期限目前已进入后半段,而原本应进行谈判的主要问题——尤其是处于紧张局势核心的伊朗核计划——在调解员试图让双方保持对话期间被搁置。人们对该地区另一条关键水域——通往红海的曼德海峡的航运担忧日益增加。胡塞武装上周威胁要封锁当地的沙特航运,并向至少一艘沙特油轮开火,导致其起火。随着汽油价格再次上涨,全球能源供应和经济依然处于不稳定的状态。一家由美国海军监督的海事机构周日表示,霍尔木兹海峡的商业航运流量处于三周以来的低点,并补充说在过去的 72 小时内尚未确认新的袭击。该机构表示,通过曼德海峡的流量保持稳定。与此同时,以色列总理本雅明·内塔尼亚胡表示,他计划于周二在华盛顿与特朗普先生会面。他们上次在华盛顿会面是在二月,即他们在对伊朗发动战争(导致包括最高领袖阿里·哈梅内伊在内的多位高级领导人死亡)前几周。在战争开始两天后,伊朗支持的黎巴嫩真主党武装组织向以色列开火,以色列则以空袭和地面入侵予以回应。此后,美国支持黎巴嫩与以色列之间进行具有里程碑意义的直接对话,以试图平息该战线并寻找解除真主党武装的方法。

美联社(ASSOCIATED PRESS)

针对波尔多周边吉伦特省地区的负责人努力让度假者远离,禁止儿童及残疾人在此设立度假营。政府部长们还敦促人们不要前往该地区,该地区以其大西洋海滩、著名的葡萄酒以及法国最大的一些森林而闻名。

工作人员使用土方设备铲除林地和灌木丛,开辟出荒芜地带,旨在阻断火势。官员表示,火势已接近波尔多郊区 15 公里处。农民们通过水罐为消防队提供水源。

在向马克龙先生汇报时,吉伦特省的消防 chief 解释了工作人员是如何与这场前所未有的烈火搏斗的。这场火灾异常凶猛且变幻莫测,“火势向四方蔓延”,并产生电风暴,引发了更多火点。

“在你们的努力下,过去的 24 小时进展顺利,”马克龙先生告诉消防员们,“毫无疑问,明天会比今天更复杂。”

约有十二个国家向法国和西班牙提供了飞机、直升机、消防员及其他援助,西班牙目前也正与前所未有的山火作斗争。总计,两国的火灾已迫使 330,000 多人逃离。

在西班牙,马德里周边的山火已失去控制且

印度活动人士挑战

莫迪政府在抗议活动中使用 AI 监控

SAURABH SHARMA MUNSIF VENGATTIL

印度活动人士正在挑战总理纳伦德拉·莫迪(Narendra Modi)政府在近几十年来规模最大的青年抗议活动中使用 AI 驱动的监控行为,其中一起法院案件在抗议结束后,仍将成为衡量联邦权力的试金石。

此次监控争议爆发于上周针对试卷泄露的学生抗议期间。当时,示威者在社交媒体上发布了一辆移动警用监控车的照片,该车配备了一个安装在伸缩桅杆上的摄像头,可提供集会现场 360 度的全方位视野。

一名抗议者,学生活动人士艾舍·高什(Aishe Ghosh)已请求德里高等法院宣布对抗议者进行的大规模监控违宪,并指示销毁抗议期间收集的所有个人数据,同时要求制定关于如何使用监控技术的指南。

尽管抗议活动在教育部长达尔美德拉·普拉丹(Dharmendra Pradhan)辞职后已经结束,但高什女士仍在推进此案。普拉丹的辞职对于莫迪先生来说是一个罕见的挫折,莫迪先生此后宣布成立一个小组,旨在彻底改革容易出现作弊现象的考试制度。

活动人士表示,印度没有监管警察使用面部识别技术的法律,而在新德里主要抗议现场进行的监控违反了法律。政府则表示,此类检查是合法的,且为了确保法律和秩序,符合公共利益。

莫迪政府经常被反对党和数字权利倡导者指责扩大监控权力并严格控制数字通信。政府否认了这些指控,称其行为仅出于公共利益。

在周五的一次听证会上,总检察长图沙尔·梅塔(Tushar Mehta)为印度警方的行为辩护,称在公共集会上主张隐私权是“讽刺的”,且这些检查是“绝对必要”的,且符合“合法的国家利益”。

在周一的一次简短听证会上,法官听取了高什女士的论点,即对抗议者进行侵入性的大规模监控是不相称的。她寻求要求政府更广泛地披露在抗议期间的监控政策。法院将于周二审理此案。

总部位于新德里的数字倡导团体“互联网自由基金会”(Internet Freedom Foundation)于 7 月 24 日致信德里警察局长,要求删除在抗议现场收集的生物识别数据。

该警局在周日于社交媒体平台 X 的一项帖文中表示,其并未“通过使用面部识别技术限制任何人的自由”。

“即使我们要主张国家安全风险,也需要比例原则。问责制必须双向进行,”印度律师事务所 Panag & Babu 的技术法合伙人阿卡什·卡马卡尔(Akash Karmakar)表示。他认为,如果印度使用面部识别来追踪抗议者,那么它也必须被用来识别在镇压过程中被指控未佩戴名牌的警察。

人们还看到警察在记录抵达现场的抗议者的 Instagram 账号。当被问及原因时,督察苏尼尔·库马尔(Sunil Kumar)告诉路透社,检查是为了确保没有具有犯罪背景的人进入抗议现场。

停在现场的监控车上印有德里警察局的徽章和品牌名称“Ikshana”,在印地语中意为“愿景”。

在巴伦西亚地区。当局撤离了 79,000 人,并要求另外 30,000 人居家禁足。在西班牙和法国,火灾的异常规模——受今年早些时候袭击尤为严重且提前到来的热浪推动,导致森林和灌木丛极其干燥——正促使人们呼吁采取更强有力的行动应对气候变化。“我们所经历的并非一系列孤立事件。这是一个气候紧急状态的结果,它使得山火更加猛烈,热浪更加频繁,”西班牙首相佩德罗·桑切斯(Pedro Sánchez)说道。政府表示,一场在马德里以西阿维拉(Ávila)丘陵农村地区肆虐的火灾已成为西班牙有记录以来规模最大的火灾,烧毁了 500 平方公里。这相当于巴塞罗那面积的五倍。“看看山谷是怎么被烧毁的。看看那些房屋,那些人们,”48 岁的园丁大卫·冈萨雷斯(David Gonzalez)说道,他开着自己的货车向阿维拉的消防员运送物资。“我们感到非常愤怒且无力。这简直是非人类的,”他说。生态部长萨拉·阿格森(Sara Aagesen)表示,今年西班牙已有 1,530 平方公里被火烧毁——这是 2025, 年上半年火灾烧毁面积的六倍。部长表示,预计从周二开始的另一波热浪(这将是西班牙今年迄今为止的第四波)可能会增加火灾风险。西班牙气象局预报气温将超过 40 C。当局表示,周日下午,在意大利南部普利亚(Puglia)地区的佩斯奇奇(Peschici)附近,一场由强风驱动的山火爆发,烧毁了松林和灌木丛,迫使约 300 名游客从海滩和营地撤离。海岸警卫队通过海路将游客撤离至附近的维埃斯特(Vieste),当局在那里开设了临时避难所。三架 Canadair 灭火飞机和地面消防人员在周一继续与大火搏斗。

Page 5

特朗普在密歇根州为其经济政策辩护

总统吹捧关税振兴了汽车工业,但部分企业表示这些政策损害了该州

WILL WEISSERT DARLENE SUPERVILLE 密歇根州,米尔福德 (MILFORD, MICH.)

美国总统唐纳德·特朗普周一来到密歇根州,并主张他的经济政策振兴了汽车工业和美国制造业,尽管一些企业认为他实施的全面关税实际上损害了该州。

特朗普先生参观了位于底特律郊区米尔福德的一处规模庞大的通用汽车设施,该设施是其车辆的测试场。在观看了一场涉及肌肉车及科尔维特 Z06、凯迪拉克 Escalade V 和电动悍马等豪华车的三车直线加速赛后,他挥动了拳头——播报员承诺这些赛事“全部体现了美国优先的力量”。

正是这种雷霆般的速度,是总统期待下个月在华盛顿举行的印地赛车 (IndyCar) 比赛中看到的,该赛事是 5

传奇加拿大冰球运动员戈迪·豪 (Gordie Howe) 的家人在周一温莎 (Windsor, Ont.) 的戈迪·豪国际大桥向公众开放时,完成了首次正式的车辆跨桥通行。BILL PUGLIANO/GETTY IMAGES

戈迪·豪桥在经历数月延迟后正式通车

渥太华

在围绕该项目财务方面的争议持续数月后,戈迪·豪国际桥于周一向驾驶员开放。官员们在中午刚过时发布的一条社交媒体帖子中宣布,为了纪念这座桥以的加美冰球名将命名,豪家庭率先跨桥通过。几分钟后,另一条帖子记录了第一辆商业货车的通过,该车来自安大略省特克姆塞的一家货运公司,正将汽车零部件运往密歇根州。在阳光明媚的下午,私家车和运输卡车接踵而至,开启了首批通行之行。在安大略省温莎市附近的百老汇大街上,骑行者们停下来观看首批车辆过桥。车辆在通过收费站后,缓缓在加拿大境内出入。与此同时,一名底特律居民坐在停在桥下的一把草地椅上观看开通仪式,两根顶端插着美国小国旗的钓鱼竿固定在栏杆上,鱼线垂在河中。

美国总统唐纳德·特朗普在二月份的一条社交媒体帖子中坚持认为,在他允许大桥开放之前,美国必须获得补偿。他错误地声称,这座连接温莎和底特律的 $6.4-billion 建筑几乎没有使用美国内容。随后,加拿大同意在收入分成方面做出一些调整。总理马克·卡尼随后表示,他本可以更清晰地说明协议条款,因为保守派批评者指责他向特朗普政府低头。加拿大上周举行了仪式以纪念大桥开放,但由于华盛顿近期威胁要对加拿大商品征收新关税,与美国的联合庆祝活动被取消。美国官员表示,新关税是对省政府禁止美国酒精制品、加拿大的供应管理乳制品系统以及对美国汽车配额的回应。美国驻加拿大大使皮特·霍克斯特周一欢迎这一里程碑,称这座桥将为“美国的 250 周年诞辰庆祝活动增加新能力”。

在随后于一家设计设施内发表的演说中,总统对通用汽车(GM)未来几年扩大国内生产的计划表示赞赏,并宣布自己是一位“终于”为汽车工人挺身而出的总统。 “我为你们做的事比你们父母做的还多,好吗?”他开玩笑地说道。

密歇根州是 2024 年特朗普反转的战场之一,该州在 2020 年曾支持民主党人乔·拜登。但该州部分经济已受到总统关税的影响,包括对进口汽车和汽车零部件的关税。汽车制造商长期以来一直表示,关税增加了经营成本,从而导致消费者面临更高价格。

公司官员带领特朗普参观,他看到了各种通用汽车车型,包括最新版本的雪佛兰 Suburban、GMC Sierra 和雪佛兰 Silverado——他主张这些车型的产量因关税而得到了提升。

在某个时刻,总统拿起一支笔,在一辆专为美国 250 周年诞辰制造的白色科尔维特(Corvette)发动机盖上签名。 “他们已经走了很远的路,”他说道。

骑行者周一停在安大略省温莎市的百老汇大街上,观看首批车辆过桥。DAX MELMER/THE CANADIAN PRESS

“……美国和加拿大之间最繁忙且经济意义最重大的过境点之一。” 这座跨越底特律河的桥梁以加拿大冰球偶像(被某些人称为“冰球先生”)命名,预计将成为加拿大与美国之间贸易、就业和旅游的关键路线。 加拿大 70 以上百分比的出口产品运往美国。近一个世纪以来,私有的大使桥一直是底特律地区美加之间大型商业货车通行的唯一路线。 企业表示,这座新的六车道大桥将更快捷且成本更低。 该桥于 2018 年开工,但耗时多年,部分原因是 COVID-19 疫情导致的全球经济放缓。 加拿大商业委员会主席 Goldy Hyder 表示,该项目是政府与社区之间协作的有力范例。 Hyder 在一份声明中表示,自 2012, 年首次宣布以来,该商业委员会一直预期这座桥梁将增强边境两侧的竞争力,支持就业和投资。 运输公司表示,这座桥的开放——

在参观期间,他向记者谈到了这家总部位于底特律的汽车制造商。“关税给通用汽车(GM)带来的影响令人惊叹。”特朗普先生说他对该公司一直很照顾,但拒绝透露更多细节。 总统的演说持续了一个多小时,范围广泛——涉及经济、伊朗战争以及推翻委内瑞拉领导人的美国军事行动。 他还谈到了共产主义、犯罪率、其政府改造国家首都的努力,甚至包括他在舞台上或从“空军一号”下机时为了防止绊倒而走得多么小心。 随着初选投票已经开始,特朗普先生邀请共和党众议员 Lisa McClain、Tom Barrett 和 Tim Walberg,以及州长候选人 John James 和参议员候选人 Mike Rogers 上台。 Rogers 先生在参议院初选中没有对手,但共和党州长之争则是由受特朗普先生支持的 James 先生,对阵 Perry Johnson。后者是一名转型为政治家的商人,此前曾发起过不成功的竞选活动,包括 2024 年的总统竞选。

戈迪·豪桥(Gordie Howe bridge)承诺提供更高效的运输——尽管对于消费者来说,价格未必会降低。 加拿大卡车联盟首席执行官 Stephen Laskowski 表示,这座连接底特律与安大略省温莎市的新桥将使交通流量更好,安检程序更流畅,且竞争性的通行费率可为大型运输公司每月节省高达 $100,000。 这座六车道大桥提供了安大略省 401 高速公路与横跨底特律河的 75 号州际公路之间的直接连接,而上游的四车道大使桥在加拿大一侧需要经过匝道和多达 14 个红绿灯。 加拿大私营货车委员会主席 Mike Millian 表示,新过境点还拥有更快速、更现代化的 X 射线成像设施,且通行费远低于私有的大使桥近期的收费标准。 然而,他表示,在行业经历了两年的艰难时期后,柴油燃料价格高企,这意味着成本节省可能在短期内无法惠及消费者。

美联社(ASSOCIATED PRESS)

美联社(ASSOCIATED PRESS)

新一轮的高额进口关税正对数十个美国贸易伙伴生效。然而,特朗普先生唯独针对加拿大,对其广泛的产品(包括汽车)征收高达 50 %的关税。

他参观的通用汽车(GM)工厂位于奥克兰县,该县涵盖了底特律大部分的北部郊区。

这里曾是共和党的坚固堡垒,但如今日益倾向于民主党,在 2020 年支持拜登先生对抗特朗普先生,并在四年后支持副总统卡玛拉·哈里斯对抗特朗普先生。

密歇根州的经济严重依赖加拿大,这意味着新关税——加上依然高企的通货膨胀,以及由于在伊朗那场本就不受欢迎的战争升级导致油价再次上涨——已在全州范围内引发了额外的经济担忧。一些引用进口和关税数据的倡导团体表示,仅自去年春季以来,关税就让密歇根州企业损失了数十亿美元。

最新关税出台之时,全国选民对特朗普先生处理经济的方式已日益不满。

杰森·罗(Jason Roe)曾任密歇根州共和党执行主任,他曾在 2021, 年试图将该党与特朗普先生的“让美国再次伟大”运动区分开来,但未能成功。他表示,特朗普先生的此次访问不仅与新一轮关税相契合,而且是由于密歇根州初选时间相对较晚,旨在确保詹姆斯先生获得提名。

但罗先生还表示,总统在大选前将自己与共和党高层联系得过于紧密是一个风险,称这对于 11 月的选民来说是“氪石”(致命弱点)。

特朗普先生在承诺降低生活成本的情况下赢得了白宫,但现在也看到自己的支持率下降,这意味着“餐桌议题”(民生问题)可能会成为共和党在 11 月 3 日选举中试图维持国会控制权的累赘。

“我们很高兴总统能来到这里与共和党人一起助选。我们认为这凸显了一个事实,即他们唯一关心的是唐纳德·特朗普,并且拒绝反抗他,”密歇根州民主党主席柯蒂斯·赫特尔(Curtis Hertel)表示,“总统每次出现在这里对我们都有利,因为他极其不受欢迎。”

麦康奈尔

声明称 尚未获准 离开康复中心

KEVIN FREKING 华盛顿

参议员麦康奈尔(Mitch McConnell)的办公室周一发布了他的健康状况更新,此次包含一份来自国会主治医师办公室(Office of Attending Physician)的声明,称该参议员尚未获得医疗许可离开他正在进行物理治疗的康复设施。此次更新是在他家乡年度的“花俏农场”(Fancy Farm)野餐会前不久发布的,该活动以全省寻求竞选公职的政治家发表演讲为特色。麦康奈尔先生在一份书面声明中表示,他将无法参加此次活动。“在八月的第一个星期六,除了与肯塔基州西部的优秀民众一起享用猪肉和羊肉大餐,我不想在任何其他地方,”他说道。他表示,当他在 42 年前第一次参加该活动时,花俏农场对共和党人来说是个孤独的地方,但时代已经改变。“所以我很遗憾今年将错过这次乐趣,但我向圣杰罗姆社区致以最诚挚的祝愿,祝野餐会圆满成功,”麦康奈尔先生说。现年 84, 岁的麦康奈尔先生于 6 月 14 日入院,并在数周后透露这是由于一次跌倒所致。他在童年早期患过小儿麻痹症,且长期承认成年后在行走和爬楼梯方面存在一定困难。主治医师办公室的声明称,麦康奈尔先生在离开医院后一直坚持高强度的物理治疗和康复课程,其中包括每天多次旨在增强体力并降低未来跌倒风险的训练。“他童年时期患小儿麻痹症的经历仍然是他行动能力的一个重要因素。他尚未获得医疗许可离开康复设施并返回办公室,”国会医师办公室的声明称。麦康奈尔先生表示,他感谢近几周收到的美好祝愿,并且“我期待很快能回到参议院和肯塔基州”。麦康奈尔先生不寻求连任,但打算完成其任期。

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卑诗省克林顿附近山火继续肆虐

官员统计损失, 在社区中出现 悲伤故事的同时 与业主会面

NONO SHEN BRENNA OWEN

一名卑诗省克林顿的市议员周一表示,在这个南部内陆社区中,随着当局开始统计损失并启动接触业主的程序,一些悲伤的故事正逐渐浮现,当地的房屋和其他建筑已被山火摧毁。 由BC山火服务局提供的一张照片显示,周一该村庄的大部分区域似乎完好无损,但烟雾仍然笼罩着村庄周围的森林山坡,该村庄位于温哥华东北约 350 公里处。 但尼古拉斯·科索维奇(Nicolas Kosovic)——他在克林顿与母亲玛丽亚(Maria)共同经营Stagecoach Cafe——表示,在村庄南部,由于火势“相当严重”,已有部分物业被毁。 其中包括Steve’s Towing,

[[IMG_XXXX]]

周五,一只虎鲸出现在坎索堤道(Canso Causeway)附近。在 2008, 年,一份为联邦渔业部准备的文件称,对整个大西洋加拿大沿岸的目击记录和照片进行的审查确认,在 1864 和 2007 之间共有 363 次目击记录。加拿大新闻社(THE CANADIAN PRESS)

在整个大西洋加拿大沿岸确认了 363 次目击记录,时间在 1864 和 2007. 之间,其中大部分记录于纽芬兰与拉布拉多省海域。 该文件称:“尽管[总部位于美国的]国家海洋渔业局多年来进行了多次航空和船载鲸类调查,但新斯科舍省沿海、芬迪湾以及美国东北部很少有虎鲸的报道。” 近期,在布雷顿角北部海域工作的龙虾渔民报告称,去年 6 月在烟岬(Cape Smokey)附近看到了一群约 12 头虎鲸。 此外,2023 年发表的报道记录了在纽法兰省的雷斯角(Cape Race)附近,以及魁北克省拉塔巴蒂埃(La Tabatière)附近的圣劳伦斯湾,以及新不伦瑞克省大马南岛(Grand Manan Island)附近的芬迪湾出现的目击情况。 除了上周末最近的一次目击外,新斯科舍省坎索的人们上一次发现虎鲸是在 2019 年 6 月。 而在 2016, 年 7 月,一艘在纽芬兰南部海域行驶的小船上的家庭报告称,他们被一群虎鲸包围了。当时,退休渔民诺姆·斯特里克兰(Norm Strickland)表示,五六头鲸鱼在伯吉奥(Burgeo)附近包围了他的 5.5 米小船并开始冲撞船只。 “那真的比轻轻碰撞要猛得多,”斯特里克兰在 2016 年的一次采访中说。“撞击产生的震动足以让你在被撞到时几乎失去平衡。”

加拿大新闻社(THE CANADIAN PRESS)

加拿大新闻社(THE CANADIAN PRESS)

“我们都被喷到了”:新斯科舍省堤道附近罕见出现虎鲸,令公众惊叹

MICHAEL MacDONALD

周日,凯拉·帕特里奇(Kayla Partridge)与家人和朋友乘坐一艘小船,在布雷顿角(Cape Breton)南部海域突然经历了一次极其罕见的偶遇:一只落单的虎鲸。

“我们当时只是在慢慢前行,然后看到它跃出水面,”帕特里奇女士在周一的采访中回忆道。她描述了这头虎鲸是如何在连接该岛与新斯科舍省大陆的坎索堤道(Canso Causeway)西侧跃出水面的。

“我们关掉了发动机,关闭了所有设备,就那样随波漂流。它直接游到了船底下面……两三次。”

一段目击视频显示,这头巨大的黑白相间的鲸鱼在船底游过,然后在几米外浮出水面,从喷水孔中喷出强有力的气息。

“我们都被喷到了,”住在附近新斯科舍省东特拉卡迪(East Tracadie)的帕特里奇女士说。“这真的很神奇。在这一带并不常见……这是那种‘我的天,一生一次’的时刻。”

周日,总部位于新斯科舍省的海洋动物响应协会(Marine Animal Response Society)在社交媒体上发布消息称,这头落单的虎鲸在过去几天内被多次目击,且状态良好。

“在新斯科舍省沿海目击到虎鲸的情况很罕见,这使得这次经历真正地令人赞叹。”


特朗普政府请求最高法院收紧邮寄选票限制

美国总统唐纳德·特朗普(Donald Trump)的政府周一请求美国最高法院允许在全国范围内实施其行政命令,旨在收紧 11 月中期选举前的邮寄投票规则,这次选举将决定国会的控制权。

在提交的一份文件中,司法部请求大法官们暂停一名法官的裁决,该裁决此前阻止了这位共和党总统在 23 个主要由民主党执政的州以及华盛顿特区的指令执行,这些地区此前对此提出了挑战——

【OCR清理说明:此处文本在原件中似乎有缺失或跳跃】

其所有者史蒂夫·拉拉比(Steve Larabie)周六告诉加拿大新闻社(The Canadian Press),该企业以及物业上的两栋家庭住宅均已损失。

周五深夜逃离火灾的科索维奇(Kosovic)先生拒绝透露其他人的身份,并警告不要依赖社交媒体获取信息。

“我知道每个人都在猜测。当然,我也在想我的房子怎么了。我的房子没有保险,所以如果我要失去一切,我希望能知道,”他补充道。

科索维奇先生说,他周一早上收到消息,“截至昨晚,我的房子依然挺立。”

克林顿(Clinton)市长罗兰·斯坦克(Roland Stanke)表示,评估小组将于周一和周二进入村庄,勘测破坏程度。

“如果您的财产受损,您将收到个人通知,希望是在您看到 Facebook 上发布的错误信息之前,”他在社交媒体的一篇帖子中写道。“到处仍有阴燃的余烬,在火灾过后几天可能会突然复燃,导致结构性火灾。”

“……与动物接触,”该组织在一份在线声明中表示。

与此同时,该非营利组织请求船员给这头鲸鱼留出充足的空间,并补充说,联邦法规要求船只与任何鲸鱼之间必须保持至少 100 米的距离。

该组织表示,已收到多起船只靠近该鲸鱼的报告,并称相关信息已转发给联邦渔业部,后者已派遣渔业官员前往该海峡。

该部门未立即回应置评请求。

“欣赏这位稀客的最佳方式是在岸边,”该保护组织表示,“给鲸鱼留出充足的空间有助于减少干扰,并使其能够自然地在该区域活动。”

帕特里奇女士表示,她和家人在回家途中发现了这头鲸鱼。她表示,他们知道相关规定,并未试图靠近该动物。

“我们在距离还远未达到 100 米之前就关掉了发动机。我想它只是看到了我们……并且感到好奇,”她说。

“我敦促任何在海峡中开车试图寻找它的人,请尊重这些规定。这能确保动物的安全,也能确保你们的安全。”

2008 年,一份为联邦渔业部准备的研究论文指出,在对目击记录和照片进行审查后……

……在诉讼进行期间,认为该命令违宪并对其提出挑战。

最高法院要求这些州在 8 月 3 日前回应司法部的请求。

美国地方法院法官因吉拉·塔尔瓦尼(Indira Talwani)驳回了政府的论点,即这些州缺乏挑战特朗普先生指令的必要法律地位。6 月,塔尔瓦尼法官裁定,总统无权命令各州更改联邦选举的管理方式,并指出根据美国宪法,各州在确定选民资格要求方面发挥作用。

政府方面表示,由于诉讼过于仓促,法官应撤销塔尔瓦尼法官的裁决。

司法部在提交的文件中称,联邦机构“仍在商讨如何(以及是否)执行该命令,但地区法院却预先判定,无论机构最终选择采取什么行动,都必然是非法的”。路透社(REUTERS)

斯坦克先生表示,对于那些“选择无视疏散命令”的居民,水供应正在恢复,但在饮用前必须煮沸;同时,BC Hydro 的工作人员在恢复电力前正在进行检查,且仍有电线掉落。

村庄的一份声明感谢了 15 名以上留在当地并“不知疲倦”地保护社区的克林顿消防队成员。

声明称,消防员已将村庄分为四个象限,并进行持续巡逻以扑灭任何零星火点,此外,BC 野火服务局(BC Wildfire Service)的建筑保护人员也留在克林顿。

威胁到克林顿及周边地区的复杂火势继续失控燃烧,皮尔湖(Pear Lake)和 59 溪(Fifty-nine Creek)的火灾在周末合并,覆盖面积超过 630 平方公里。

周一,由于汤普森-尼古拉地区(Thompson-Nicola Regional District)扩大了疏散命令,不列颠哥伦比亚省 70 Mile House 的居民被告知离开家园。该命令目前覆盖约 650 平方公里。

97号公路两边的房产。 此外,在克林顿(Clinton),由于火势蔓延至社区边缘,官员们在周五发布了疏散令。

村官员表示,克林顿的大部分住宅区幸免于难。BC省野火服务局(BC Wildfire Service)自上周四(即野火激增前一天)起未发布过克林顿地区的照片,但周一分享了数张。在周一日期的一张最新照片中,村庄本身的住宅区似乎完好无损,尽管整个社区并未全部可见。

BC省野火服务局在发布的一项在线更新中表示,消防员和结构保护人员周一仍留在村庄内。

该局表示,已在克林顿的东南角设立了一道警戒线,同时工作人员正在村庄与火线之间建立另一道屏障。

该服务局表示:“重型设备资源将开始在远离火源的地方开发封锁线,以便在面对目前观察到的快速火势增长和行为时能抢占先机。”

由于另一场火灾(林湖野火,Rim Lake wildfire)在梨湖(Pear Lake)和59溪(Fiftynine Creek)合并火灾的东部燃烧,汤普森-尼古拉区域区(Thompson-Nicola Regional District)在周一晚些时候向两处房产发出了疏散令。

面积约为250平方公里的法属巴克溪火灾(French Bar Creek fire)仍在西北方向继续燃烧。

这些火灾是BC省约130场野火的一部分,其中有50多场处于失控燃烧状态。

由于野火烟雾引发的空气质量警告在BC省中南部内陆大部分地区以及乔治王子城(Prince George)和圣约翰堡(Fort St. John)地区依然有效。

与母亲和宠物猫一起在坎卢普斯(Kamloops)的科索维奇(Kosovic)先生表示,他计划与最好的朋友见面,后者的房屋已被大火吞噬。

“在这个关键时刻,我们将陪伴彼此并互相支持,”科索维奇先生说。

他补充道:“我认为克林顿非常有韧性。这是一个强大的社区。”


达勒姆警察局 副局长在监管机构 揭露其失职后退休

一名达勒姆区域警察局(Durham Regional police)副局长将在警察委员会表示监管机构调查发现其存在失职行为后退休。

达勒姆区域警察局委员会(Durham Regional Police Service Board)表示,已与副局长克里斯·柯克帕特里克(Chris Kirkpatrick)达成一致,决定“终止其雇佣关系”。

在今早发布的一份社交媒体声明中,委员会表示柯克帕特里克先生将不再返回工作岗位,并将从这座位于多伦多东部的警察局退休。

声明称,该决定是在对执法投诉机构(Law Enforcement Complaints Agency)的调查结果进行“仔细审查和审议”后做出的,该机构认定柯克帕特里克先生的行为构成了《社区安全与警务法》(Community Safety and Policing Act)下的失职行为。

声明未具体说明监管机构调查了哪些行为,委员会和该机构均未立即回应置评请求。

今年2月,达勒姆警队表示,一名副局长在与其非裔-加勒比裔加拿大内部支持网络(Afro-Caribbean Canadian Internal Support Network)开会期间使用了“种族不当术语”而被停职。当时并未点名该副局长。

委员会在周一的声明中表示,其将“继续致力于营造一个包容的工作场所和文化,并确保DRPS反映并尊重其服务的多元化社区”。

“这些价值观是该服务局运作以及每天赢得公众信任的基石。”

加拿大新闻社(THE CANADIAN PRESS)


提交关于药物 REXULTI 集体诉讼索赔的 截止日期将至

加拿大人申请参与一项关于药物 Rexulti 的数百万美元集体诉讼的截止日期即将到来。

加拿大人在 8 月 27 日之前可以提交申请,以领取该项涉及 4.75 百万美元和解金的份额。该药物是一种用于治疗精神分裂症和抑郁症的抗精神病药物。

魁北克高等法院在 11 月批准了该和解协议,在此一年前,该法院已授权针对 Otsuka Canada Pharmaceutical Inc. 和 Lundbeck Canada Inc. 发起全国性的集体诉讼。

该集体诉讼涵盖了自 2017 年 2 月起被开具该药处方的加拿大人,且随后出现了强迫行为或冲动控制障碍,如赌博、购物或暴饮暴食。

代表受影响患者及其家属的律师表示,该协议是一项妥协,不涉及承认法律责任。

申请人可获得的金额根据情况而定,轻微病例约为 6,500 美元,严重病例则可超过 102,000 美元。

加拿大新闻社(THE CANADIAN PRESS)

第 7 页

T

即使在袭击发生前,柏林的同性恋群体就已感到不安全

骄傲节参与者质疑袭击者是如何绕过加强的安全措施的

JIM TANKERSLEY PHILIP KALETA 柏林

周六柏林同性恋骄傲庆典中心的游行是一片阳光明媚的景象,闪烁着亮片与羽毛,飘扬着彩虹旗,伴随着沉重的科技舞曲节拍。庆典被金属路障墙层层包围,并由 2,200 名警员把守——比去年的 1,300 名有所增加,因为该市正试图遏制针对柏林同性恋群体的暴力浪潮。

然而,这些预防措施未能阻止周六深夜发生的一起袭击事件。当时,一名袭击者驾驶一辆租来的面包车,冲向一群正通过市中心蒂尔加滕公园(Tiergarten park)的一条侧街离开庆典的狂欢者,该地点恰好位于安全警戒线之外。他还使用疑似砍刀攻击他人,这让那些认为额外安保措施能保护他们的人感到震惊。

“他到底是怎么进到蒂尔加滕公园的?”参加活动的本杰明·博克(Benjamin Bock)问道,他表示自己在袭击发生前 10 分钟还在现场。“到处都是防车和防卡车的路障。有数千名警员在执勤。”

当局表示,一名女性被杀,29 人受伤。警方在周日晚上枪杀了主嫌疑人,结束了为期一天的全国搜捕。官员将此次袭击定性为伊斯兰极端主义恐怖主义,并将嫌疑人指认为 21 岁的 Abdul B.,根据德国隐私法,其姓氏被省略。

对于柏林的 LGBTQ+ 群体以及市政府官员来说,这是一个所有恐惧交织的时刻。近年来,市政府加强了骄傲节活动的安保,并且在遏制针对该群体的犯罪激增方面似乎取得了进展。

[[IMG_XXXX]] 周一,在周六市年度克里斯托弗大街骄傲庆典附近发生袭击并导致一名女性死亡、29 人受伤后,人们走过柏林蒂尔加滕公园内的一个临时纪念碑前。 ANNEGRET HILSE/路透社

柏林在 2024 年启动了一项旨在打击针对其 LGBTQ+ 群体暴力和歧视的计划。根据城市统计数据,在 2016 年至 2025 年间,该市的“反酷儿”犯罪增加了三倍以上。暴力反酷儿犯罪增加了 50%。暴力和非暴力犯罪均在 2023 年达到顶峰,并在该市实施战略后有所下降,但这两类犯罪依然处于历史高位。

该计划的大部分精力集中在应对德国极右翼日益增长的敌意上;在柏林,极右翼意识形态是 2025 年该市恐同袭击中最常被提及的具体动机。但周日,在当局表示犯罪者曾试图加入恐怖组织“伊斯兰国”后,社区领导人们表示,他们日益担心来自更广泛政治和宗教动机的威胁。

了解更多详情

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“我们在柏林的酷儿群体感到越来越不安全,”民权组织 LSVD 柏林-勃兰登堡酷儿多样性协会(Association for Queer Diversity Berlin-Brandenburg)执行董事 Florian Winkler-Schwarz 在一次采访中表示。Winkler-Schwarz 先生表示,周六庆祝活动期间的警力部署和其他安全措施“极其之高”。但他认为,“我认为对于如此大规模的活动,无法保证 100 per cent 的安全。”

Alfonso Pantisano 是柏林州政府的 LGBTQ+ 事务专员,这一职位的设立是为了实施一项打击针对该群体的暴力和歧视的战略。由于就职以来收到的威胁,他在警方护送下参加了克里斯托弗大街日(Christopher Street Day)的庆祝活动。他在现场停留至周日上午深夜,以帮助并安慰在袭击后撤离的人们。

“我的心都碎了,”Pantisano 先生在采访中说。“这让我思考,在我目前的生活中——我现在 52 岁了——我是否能有一天可以代表酷儿群体说,我们终于真正安全了。”

袭击发生后,许多在柏林的节日参与者也面临着类似的恐惧。

周日下午,在雨中,Uwe Brzezek 和他的伴侣 Olav Kedziora 站在一座教堂的追思会外,周围有数十名哀悼者,有些人拿着骄傲旗(Pride flags)。

Brzezek 先生和 Kedziora 先生参加了周六的骄傲节庆活动,但在袭击发生前几个小时就离开了。

“昨天,我的朋友们为了参加骄傲节盛装打扮,”Kedziora 先生说。“但在乘坐地铁回家前,他们又换回了普通衣服。他们担心被骚扰。你本希望至少在这一天,这样做是不必要的。”

Brzezek 先生说,当他在 20 世纪 90 年代搬到柏林时,“我从未感到恐惧。但现在,有些情况我会刻意回避。”

有些人表示,在移民人数较多(包括保守派伊斯兰主义者人数较多)的地区,他们感到特别不安全。

当局表示,嫌疑人是一名具有黎巴嫩背景的德国公民,居住在一个阿拉伯社区较大的地区,并产生了极端观点。

“多样性本身似乎正成为一种挑战,”Kedziora 先生说。“太多的极端在碰撞。我们必须学习如何共同生活。”

周日参加追思会的一些人表示,德国领导人加剧了不安全感。他们点名批评了极右翼的“德国选择党”(Alternative for Germany),该党凭借将家庭定义为“一对男女及孩子”的纲领,在全国民调中上升。另一些人则批评了总理 Friedrich Merz,他去年为联邦议会大厦不悬挂骄傲旗的决定辩护,称议会“不是马戏团帐篷”。

Merz 先生和柏林市长 Kai Wegner 周日参加了追思会。随后,Wegner 先生率领人们从教堂向勃兰登堡门举行了静默游行,数百人加入了游行。Merz 先生在仪式前发表了简短讲话,对袭击表示愤慨,并对该群体表达团结支持。在当天晚些时候的一场演讲中,他详细阐述道:

“暴力并非始于袭击,”他说。“暴力始于不宽容、排斥、歧视,始于愚蠢的言论和恶劣的玩笑。”

当局周日表示,他们将审查安全方案,以确定袭击者是如何能够在如此靠近庆祝活动的地方锁定目标的。官员和参与者一致表示,暴力不会阻碍他们未来的庆祝活动。

纽约时报新闻服务(NEW YORK TIMES NEWS SERVICE)

第 8 页

人口贩卖:该问题与成瘾、贫困等更广泛的社会关切相交织

EmpowerMen 团队在 Ma Mawi Wi Chi Itata 中心工作,这是一个位于曼尼托巴省、由原住民领导的社区家庭资源中心。 SHANNON VANRAES/THE GLOBE AND MAIL

接 A1 页

这份 30 页的报告还强调了资源开采地如何在主要项目附近的地区刺激购买性服务的需求,从而在人口贩卖案件中发挥作用。 “每一条记录背后都是一个人、一个家庭、一个真正寻求答案、保护和正义的社区,”Panton 女士说。 (Woodbridge Co. Ltd. 是汤森路透的控股股东以及汤森家族的控股公司,该公司同时也拥有《环球邮报》。)

对于代表安大略省北部 49 个第一民族的 Nishnawbe Aski Nation 副大酋长 Anna Betty Achneepineskum 来说,看到人们对她数十年地提出的问题给予更多关注,令人感到欣慰。 “长期以来,我们一直在等待政府和私营公司认真对待性贩卖与我们失踪及被谋杀女性之间的联系,”她说。 “虽然我们之前当然已经向他们展示过许多数据,但所有这些新研究的部分作用在于,它能帮助我们准确地告诉他们应该在哪些方面努力,以及我们在哪里需要更好的政策和执法。”

性服务广告分析是汤森路透研究人员调查人口贩卖所使用的关键工具,因为它允许他们通过地理绘图来分析驱动这些网络的的需求。 在去年的报告中,研究人员收集了自 2016 年以来在加拿大发布的 3,485 条性服务广告。研究结论认为,性服务广告的数量越多,与原住民妇女与女孩失踪和被谋杀的案件数量越高呈正相关。今年,他们通过收集 2025 年 5 月至 2026 年 3 月期间的另外 313 条性服务广告刷新了该数据。这些广告提供了原住民妇女与女孩的地点、电话号码和照片。研究人员追踪了在不同城市发布的、似乎是同一人的性服务广告,然后分析其广告地点的变化,以绘制出加拿大最常用的贩运走廊。 他们还获得了一些其他定性洞察,例如加拿大的信息 게시板上的性买家如何建议他人寻找原住民女性并避开白人女性,因为后者被认为更有可能与执法部门有联系。 研究人员在报告中写道,涉及白人女性的警察诱捕行动可能会产生一个“无意且有问题的影响”,即“性买家因认为原住民群体相关风险较低而寻求原住民女性”。

1 3

他们指出,人口贩卖是一个特别复杂的问题,因为它与更广泛的社会关切相交织,例如药物成瘾、贫困、无家可归、殖民化和系统性歧视。研究人员表示,受害者往往可能不知道或不相信自己正被贩卖。 (在本次分析中,性服务广告被视为人口贩卖的一般指标,并未排除可能是自愿性工作人员发布的广告。研究人员通过搜索帖子,寻找那些被识别为原住民或美洲原住民的人——这意味着他们可能漏掉了未注明种族的广告,同时也可能包含了种族标注不准确的广告。)

原住民妇女与女孩失踪地点

埃德蒙顿 埃德蒙顿

温哥华 温哥华

数据时间范围:2025 年 5 月至 2026 年 3 月

THE GLOBE AND MAIL,来源:汤森路透

网络上发布的以原住民为特征的性服务广告

汤森路透的 Heather Panton 表示,新报告旨在帮助预防人口贩卖。 LOUIE PALU/THE GLOBE AND MAIL

汤森路透 (Thomson Reuters) 的报告与《环球邮报》上个月发布的一项调查相吻合,该调查揭示了捕食者如何利用短期租赁平台将受害者在不同城市之间转移。在其中一个案例中,一名魁北克青少年被强迫在 15 天内向至少 50 名男子提供性服务。《环球邮报》报道称,她在最终抵达马尼托巴省之前,被从蒙特利尔 (Montreal) 向西经安大略省转移至多伦多 (Toronto)、萨德伯里、蒂明斯和桑德贝。

蒙特利尔 Montreal

蒙特利尔 Montreal

渥太华 Ottawa

渥太华 Ottawa

多伦多 Toronto

多伦多 Toronto

10 10 40 40 100 100

右图:EmpowerMen 对人口贩运问题进行了自己的研究。SHANNON VANRAES/THE GLOBE AND MAIL

潘顿女士表示,汤森路透的研究员在 2026 年的报告中首次审查了来自美国的数据,这说明了此类犯罪的无国界和跨国性质。报告发现,美国的原住民妇女与女孩 (Indigenous women and girls) 与加拿大的受害者具有类似的脆弱性;且由于两国都没有建立统一的政府数据库来记录这些案例,因此在获取数据方面都面临挑战。在许多情况下,分析人员发现,与加拿大性服务广告相关联的电话号码也被用于美国的广告中。在进行分析时,研究人员发现,同一人的广告在相隔遥远的地点(如多伦多和温哥华)发布,且时间仅相隔几天。

潘顿女士表示,受害者在这些走廊中的移动凸显了在交通和运输检查站提高意识的必要性。她补充说,这还表明各司法管辖区应更紧密地协作,通过部署专职人员等方式,在已知的贩运走廊中识别人口贩运行为。

潘顿女士表示,去年的报告强调了执法部门将性服务广告分析纳入活跃调查的重要性。今年早些时候,在明尼苏达州(该地区在 2025 年汤森路透报告后开始将性服务广告分析整合到工作中),调查人员发现了在的一起活跃案件中至关重要的广告。在一名原住民女性的失踪报告提交后不久,他们通过比对她的照片,确认她已被贩运。他们成功地将其安全救出,她现在已回到家人身边。

明尼苏达州失踪及被谋杀原住民亲属办公室的情报专家泰勒·温塞尔 (Taylor Wencel) 表示,确保“在追求正义的过程中,没有任何潜在线索被忽视”至关重要。

他在一份声明中说:“每一个失踪者都值得投入所有可用的调查资源。将性服务广告数据与失踪人口案件进行交叉比对已经证明了其价值,有助于识别个体并产生仅凭传统方法可能无法发现的线索。”

潘顿女士表示,明尼苏达州的例子表明,为什么性服务广告分析应作为一项标准实践,添加到所有警察局开展的类似调查中。

阿奇尼平斯库姆女士表示,她对汤森路透关于乔治王子城的发现深感担忧,因为该地在数据中是一个异常值。“我担心这预示着我们的未来,”她说。

在崎岖的卑诗省北部...

Page 9

在这个人口约为 76,000 且经济依赖于资源开采的城市,研究人员在 10 个月的时间内发现了至少三起原住民妇女与女孩失踪和被杀的案件。尽管其中一人被安全找回,因此未被列入研究中的 38 起失踪案件,但 Panton 女士表示,乔治王子市(Prince George)应对其他拥有大型资源开采项目的地区起到警示作用。

去年,总部位于温尼伯的 EmpowerMen 发布了一份 96 页的报告,探讨资源开采行业与性贩卖之间的联系,汤森路透在研究中引用了该报告。报告显示,建筑工地附近新设立的工业营地——也就是通常所说的“男人营”(man camps)——在历史上一直纵容并导致了弱势妇女和女孩成为受害者。

EmpowerMen 的项目负责人 Hennes Doltze 表示,这一问题触及了与性买家需求相关问题的核心。

Ma Mawi Wi Chi Itata 中心为受寄宿学校影响的人士举办纪念活动。SHANNON VANRAES/THE GLOBE AND MAIL

EmpowerMen 的 Hennes Doltze 表示,在说服男性“挺身而出并挑战性剥削规范”方面仍有工作要做。 TEMUR DURRANI/THE GLOBE AND MAIL

他的小型倡导团队在马尼托巴省一个由原住民领导、基于社区的家庭资源中心 Ma Mawi Wi Chi Itata 中心工作。他们是加拿大领先的专注于减少人口贩卖需求的团体。

“随着这些远离家庭且愿意花钱的男性营地的出现,资金的涌入不仅影响了附近居住的人群,还使这些地点成为了人口贩卖流动网络的完美热点,”Doltze 先生说道。

他说,教育男性去挑战性剥削的规范至关重要。

“我们经常听到那些嫖娼的男性说,他们不知道与之在一起的妇女或女孩是被贩卖的,”他说。“但大多数人并不想知道——这就是他们的心态。作为社会整体,我们必须努力改变这一点。”

Doltze 先生认为,性贩卖之所以存在,唯一的原因是因为存在性买家的市场。“如果我们能够制定更多直接针对这些男性的需求问题、且无需担心恐惧或污名化并进行直接干预的政策和框架,我们就可以防止这一问题像现在这样如此广泛地扩散。”

上周,在乔治王子市,联邦自然资源部长 Tim Hodgson 参加了一个关于 $4-billion Enbridge 天然气管道扩建项目的活动。在他的新闻发布会上,虽然在庆祝该地点的施工启动,但并未提及任何打击人口贩卖的协议细节。

在给《环球邮报》的一份声明中,Hodgson 先生的办公室承认,虽然基础设施相关项目能够“创造重大的经济机会和利益,但原住民社区也对暴力风险增加表示担忧”。

“随着加拿大推进重大资源和基础设施项—”

Sheri Taylor 是安大略省北部的 Ginoogaming 第一民族酋长,她表示她的社区容易受到人口贩卖的影响。

“在这些项目中,政府意识到积极与原住民伙伴、行业以及其他政府合作,以帮助识别、预防和解决与性别暴力、人口贩卖和社区安全相关的风险具有重要意义,”霍奇森先生的发言人夏洛特·鲍尔(Charlotte Power)在声明中表示。

Enbridge 的发言人吉娜·萨瑟兰(Gina Sutherland)表示,该公司实施了严格的培训和广泛的意识提升措施,以确保在其工地——尤其是当大型建设项目导致大量工人住在临时住房时——对“骚扰、剥削、人口贩卖或任何其他非法行为采取‘零容忍’态度”。她在给《环球邮报》的一份声明中写道:“任何违反这些政策的人都将受到纪律处分,包括立即将其从项目中移除并终止合同。”

在距离桑德贝(Thunder Bay)东北部 300 公里多的一座小的 Anishinaabe 社区中,吉努加明第一民族(Ginoogaming First Nation)的谢里·泰勒(Sheri Taylor)酋长正遭受近期附近野火带来的浓烟之苦。

但她表示,她想把事情说清楚:由于与失踪和被谋杀的原住民妇女与女孩相关的“周期性问题”,她所在的人口约 1,030 人的第一民族自今年 5 月起就一直处于当地紧急状态。

“我们已经向省政府和渥太华方面警告过,我们的社区——就在连接曼尼托巴省和全国其他地区的高速公路旁边,就在他们从中获利的金矿旁边——在人口贩卖面前是多么脆弱。一次又一次,我们已经把这一点说得很清楚了,”她说道。

“我们需要所有加拿大人意识到这一点,停止将我们的女性视为生命无关紧要的人。我们知道提高意识是关键。我希望当人们看到这份报告时,能够成为让这一目标真正实现的开端。”

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安大略省在消防预算上

掩耳盗铃

山火已成为安大略省生活中一个令人悲哀且可预见的组成部分——同样可预见的是,该省一直未能为其提供合理的预算。去年,安大略省为其应急森林消防基金拨款 $135-million,但到火灾季结束时已花费 $271-million,缺口达 $136-million。在前一年,预算金额比实际成本低 $36-million。再前一年,缺口则为 $63-million。

自从 2018, 州长道格·福特(Doug Ford)当选以来,实际成本仅有一次低于预算。资金总能到位——没有哪个政治家会说他们找不到用来扑救威胁到社区毁灭的火灾的资金。

“我们绝不会给我们的消防员提供不足的资金。绝不,绝不,绝不,”福特先生本月早些时候表示。当时有 150 个消防队在安大略省与 180 场山火作战,导致许多社区被迫撤离。

问题在于,在火灾发生后才筹集资金是在“补救”,在问题已经字面意义上成为一场 raging inferno(猛烈大火)时才去处理,而此时往往会出现人员和资源的抢夺局面。

山火将始终存在。问题在于,是投资于准备工作以尽量减少其造成的损失更好,还是在火势已经猛烈时才匆忙扑救更好?答案显而易见。

加大准备工作的投资将有助于确保该省拥有扑灭山火所需的人员和工具。其中一部分是合理的人员配置。当火灾爆发时,来自加拿大其他地区甚至其他国家的消防员提供帮助是正常的。但随着火灾变得更加频繁且广泛,依赖系统的冗余已不再像以前那样是一个安全的假设。

代表山火消防员的安大略省工会表示,最近几周参与灭火的 156 个消防队(每个队由四到六人组成)远少于该省过去拥有的 200 个消防队。将资金用于预防,有助于在火灾爆发时雇佣并培训所需的消防员。

福特先生上周宣布该省将花费 $650-million 购买五架新直升机和六架水上轰炸机以协助扑救山火,这是一个好消息。

订购这些飞机是对准备工作的投资。但为什么这个决定是在浓烟遮天、社区在逃离山火时才做出的?这些短缺并非出人意料。去年,三架水上轰炸机因缺乏飞行员而不得不暂时停飞。

在应急准备和预防方面投入更多资金,还可以用于与高风险社区进行撤离演习,这样撤离过程就可以比我们在过去一周内见到的几个北部社区中那种往往杂乱无章的赛跑更加高效。

多伦多约克大学(York University)的森林火灾管理专家埃里克·肯尼迪(Eric Kennedy)将加拿大各地的山火预算方法比作一个车主,试图在更换机油或轮胎换位上省钱,结果在车辆发生故障时不得不支付昂贵的拖车费。

他建议各省参考不列颠哥伦比亚省(B.C.)在降低风险方面的投资,包括受控烧除(controlled burns)和 FireSmart(一项提高房屋抗灾能力的计划),以及 Whitehorse 燃料隔离带(一项从景观中移除类燃料树木的项目),将这些作为所有人遵循的良好实践范例。

投资于预防和缓解工作在长期来看是有回报的。由美国研究人员进行并于上月发表在《科学》(Science)杂志上的一项研究发现,在森林间伐和规定烧除等项目上每投入 1 美元(US$1),就能节省 3.73 美元(US$3.73)的山火损失。

该省应该制定多少预算?

安大略省自由党能源、矿产、自然资源和林业评论员 Ted Hsu 建议,采用过去三年通过应急基金支出的平均金额。这将产生 $215-million 的预算,显著...

显著高于今年的 1.5 亿($150)美元预算。

然而,无论这个数字看起来多么显著,它仍然远低于目前山火造成的成本。

加拿大气候研究所估计,6 月 4 日至 8 日期间,安大略省森林火灾造成的医疗保健成本在安大略省高达 12.8 亿($1.28)美元。这仅仅是一个省的一周时间。野外火灾季距离结束仍有数月之久,总账单尚未统计完毕。

福特先生认为,在火灾发生时,资金已经筹措到位。

读者来信

迷失自我

关于“就像个糟糕的前任,唐纳德·特朗普在不经意间让加拿大成为了最好的自己”(评论版,7月 25 日):

减少省际贸易壁垒和取消乳制品供应管理无疑会对加拿大的底线产生积极影响,但这是否会让加拿大社会变得更强大?斯蒂芬·哈珀政府对加拿大小麦局的削弱,为西方家庭农场钉上了棺材钉;而破坏供应管理将对家庭乳制品农场产生类似的影响。供应管理究竟是提高了成本,还是仅仅将成本应用于市场,而不是像在美国那样通过补贴和税收来分散成本?

社会一直在努力弥补企业财富向上流动至极小部分公众(老板和精英)的倾向。加拿大通过变得更加自立而成为“最好的自己”,但必须警惕失去其多样化的社会互助与尊重光谱,而这种光谱在很大程度上是基于其经济的复杂结构。

Nicholas Tracy 弗雷德里克顿

养老金计划

关于“职场养老金计划让大多数加拿大人失望”(商业报告,7月 22 日):问题不在于大多数公共部门员工拥有体面的养老金工具(他们在整个职业生涯中为此缴纳费用),而在于私营部门在提供充足的职场养老金赞助方面退缩了。这些雇主曾反对扩大加拿大养老金计划(CPP),理由是个人储蓄和扩大职场养老金将为加拿大工人建立一个强大的体系。也许真正需要的是一个覆盖范围更广、提供更好养老金保障的更大规模 CPP。这将消除私营部门雇主的风险,同时为工人提供在退休年岁获得体面养老金的资金体系。

Paul Moist 温尼伯

考虑公共部门与私营部门提供的养老金计划之间的剧烈差异是非常有启发性的。加拿大政府应为了所有加拿大人的利益寻求平衡竞争环境。政府应提供养老金计划的税收激励。例如,为启动新计划的私营公司提供税收减免,并在其维持计划的每一年提供略微降低的税收激励,直至达到最高年限。

Brian Strader 安大略省 奥克维尔

多年来,许多小公司选择不向员工提供任何计划。雇主对成本和承诺的担忧是可以理解的。对于许多成功的公司来说,这一直不是优先事项。

2015, 安大略省政府提出了一项全民养老金计划,要求该省所有未参加职场养老金计划的员工必须加入。该计划虽未实施,但可能促使联邦政府扩大了加拿大养老金计划的强制缴费额。这次扩张虽然有当前的成本,但长远来看有利于工人。

但安大略省的提议仍然是一个绝佳的主意。太多工人将在没有职场养老金的情况下退休。目前的 CPP 和老年保障金(Old Age Security)水平将使许多加拿大人无法过上舒适的退休生活。

Tony Hooper 多伦多

更大的问题

关于“中国电动汽车是一个装在金属盒子里的安全风险包。我们真的想要它们吗?”(商业报告,7月 21 日):您正确地指出了中国电动汽车在数据安全方面的风险,因为它们会收集并传输位置和个人信息。

然而,有一个关键的讽刺之处未被提及:加拿大人每天通过国内公司的手机和应用程序,已经交出了多得多的隐私数据。它们可以追踪我们去过的每一个地方、买过什么、浏览了什么以及在哪里停车。

这两个来源都在侵蚀我们的个人隐私。其中一个仅仅因为感觉更“外国”而已。真正的隐私保护要求我们应对来自所有来源的监视。

Bryan Laskey 安大略省 剑桥

需要答案

关于“加拿大卫生部在审查血浆捐赠者死亡事件时未咨询检查员的工作情况”(7月 23日): 这次死亡的悲剧因报道中提到的显著矛盾而进一步放大。 一个年轻人如果在一次侵入性操作期间,遭遇一个“时间上巧合”且不相关的“无关联”心脏骤停,无论其是否患有潜在疾病,这都违背常识。而已知程序上的缺陷似乎未被考虑,这增加了谜团。 血浆捐赠至关重要,公众的参与需要对流程有信心。我是否可以建议举行公开调查,或者至少进行验尸官调查?

工作在哪里?

关于“去上班对心理健康的益处”(社论,7月 21日)以及“谁在离开加拿大的大城市?主要是 25 到 44 岁的育有幼子的群体”(商业报道,7月 21日):大量白领员工可行且有效的居家办公是近期由技术成熟和疫情封锁催生的现象。事实证明,高度分散的劳动力实际上也可以高效产出。 人们和家庭搬迁的原因很多。住房成本很重要,但那些被认为比多伦多的 Yonge 街和 King 街更具社交性、互动性和安全感的社区同样重要。当前围绕管理实践的紧张局势反映了旧有的范式。 我认为,我们正在意识到,许多人实现城市化是为了工作,并非因为他们想这么做,而是因为他们必须这么做。 我建议,代际变革正在发生。最优秀、最聪明的人将拥有在我工作年代并不具备的选择。成功的公司和社区之所以成功,是因为它们能够认识到变化,整合新方法,且最重要的是,将灵活性和开放性视为关键属性。

John Madill,安大略省奥沙瓦市

我觉得这篇社论在无意中变得很有趣。 我在安大略省 401 号高速公路上奔波的七年时间,对我的心理健康毫无益处。我认为长距离通勤是对时间和金钱的惊人浪费。而且对于有孩子的员工来说,还需要支付额外的托儿费用。 除此之外,我们还可以加上所有汽车在所有高速公路和道路上产生的环境影响,以及随之而来的交通堵塞。 关于孤独感这一点:如果有人需要社交,他们可以在咖啡馆或图书馆工作,或者在不必花费在可怕的通勤时间上时,与朋友和家人共度时光。 对我来说,很明显,在办公室办公与生产力毫无关系,而与公司控制欲息息相关。经理们希望员工在身边以便于发号施令。 如果员工远程办公且依然高效,那么有些人可能会意识到,经理其实是不必要的。

Christopher White,汉密尔顿

你听过这个吗……

关于“‘老爸笑话’可能是我们能部署的最好的笑话”(第一视角,7月 24日):这很好地描述了人们对糟糕和优秀笑话的各种正面与负面反应。 但问题依然存在:什么样的笑话才算“老爸笑话”? 当它变得显而易见(apparent/a parent)的时候。

Paul Rapoport,汉密尔顿

第 11 页

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观点

观点

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我们必须专注于延长健康寿命

我们无法在每个人 崩溃或患病时 将其治愈,但我们可以 在预防慢性疾病和 痛苦病症方面 做更多工作

全球人们的 寿命正在延长。但他们 在这些增加的年岁中 健康状况不佳,这种“发病率差距” 在像加拿大 和美国这样的富裕国家中 增长最快。 这是最近一期 《柳叶刀公共卫生》 杂志发表的一项新研究得出的 矛盾结论。 “健康 老龄化的 进展 不应仅以寿命来衡量,而应以健康寿命来衡量,”首席研究员兼健康指标与评估研究所(Institute for Health Metrics and Evaluation)所长 Christopher Murray 表示。

印度 Z 世代抗议者如何给纳伦德拉·莫迪上了一课

SANJAY RUPARELIA 新德里

多伦多都会大学(Toronto Metropolitan University)Jarislowsky 民主讲席教授,以及加拿大亚太基金会(Asia Pacific Foundation of Canada)高级研究员

一周在政治上 是很长的时间:事件往往让政府措手不及。这个古老的俏皮话在过去一周的印度得到了充分的体现。 7 月 20 日,数以万计的学生从新德里市中心著名的抗议地点詹塔尔·曼塔尔(Jantar Mantar)向议会进军。他们的要求是:联邦教育部长 Dharmendra Pradhan 必须辞职,因为他未能保护 5 月份全国医学院入学考试的公正性。由印度人民党(Bharatiya Janata Party)领导的政府派遣使节与抗议活动的推定领导者——“蟑螂人民党”(Cockroach Janata Party)进行谈判,该党两个月前起源于一个讽刺性的网络模因。然而,动员规模反而扩大了。警察封锁街道,关闭地铁站并限制互联网连接,动用警棍和催泪瓦斯来镇压不断聚集的人群。但他们的行为反而 emboldened(激励)了那些跨越种姓、宗教和阶级聚集在一起的年轻人。总理纳伦德拉·莫迪在半夜发布的一段视频,承诺建立快速审理法院来调查考试丑闻,但未能扭转局面。7 月 25, Pradhan 先生辞职,这在一个月前几乎是不可想象的。 是什么推动了这次重大起义?它预示着什么? CJP 的起源十分惊人。5 月,首席大法官...

联合国难民公约在 75 年后陷入十字路口

迈克尔·巴图齐斯基 (MICHAEL BARUTCISKI)

麦克唐纳-劳里埃研究所 (Macdonald-Laurier Institute) 高级研究员, 约克大学格伦登公共与国际事务学院教授

七十五年前,西方外交官聚集在日内瓦,以应对冷战初期的流离失所危机。于 1951 年 7 月 28 日签署的随后的《难民公约》标志着人们首次在法律约束力义务上达成广泛支持,以平衡难民权利与国家利益。但数十年以来,日益扩张的司法解释已大幅偏离了最初的折衷方案,将这一原本公开考虑到国家安全与稳定的全球主要难民条约,转变为一种不受控制的大规模迁移工具。

如果心怀善意的政策制定者未能引入能够缓和过度慷慨的法院决定的立法解决方案,且无法在现实限制内人道地管理流离失所问题,那么焦虑的东道国人口将自行解决这一困境——即通过选举那些在建制派拒绝修复系统时,愿意乐意拆除该系统的政治叛逆者。

作为冷战的工具,该公约的条款重点关注西方国家的政治关切,尤其是由于共产主义阵营未被邀请前往日内瓦。但在柏林墙倒塌前后,对已通过准则的重新诠释开始加速。在这种新的自由国际主义氛围下,学者和倡导者开始主张该条约的主要目的是推进难民权利。可以认为,加拿大人在推动这一转变中发挥了不成比例的作用。

由此产生的解释将令起草者无法认出。1951 年,条约的设计者谨慎地限制了诸如“迫害”等关键概念,同时刻意避免就义务是否应适用于大规模流动或战争难民做出承诺。

如今,这种谨慎的平衡已被一种单一的、基于权利的关注点所颠覆,旨在……

[[IMG_XXXX]]

西雅图华盛顿大学公共卫生学院健康指标与评估研究所 (IHME)。 IHME 研究人员分析了 1990 到 2003 年全球疾病负担研究的数据。在那段时期,基本上是一代人的时间,全球预期寿命从 64.6 岁增加到 73.8 岁,差异为 9.2 岁。

但在同一时期,健康预期寿命从 55.9 岁上升到 63.1 岁,仅增加了 7.2 岁。 换句话说,全球范围内的患病差距从 1990 年的 8.8 岁上升到 2023 年的 10.7 岁。

在富裕国家,患病差距比全球平均水平更为显著:美国为 14 岁,澳大利亚为 13.9 岁,加拿大为 13.7 岁。 从实际情况来看,这意味着加拿大人预计其生命中约有 17% 的时间处于健康状况不佳的状态。女性比男性长寿,但在健康状况不佳中度过的年数也更多。

导致健康不佳年数的主要是几种常见疾病:肌肉骨骼疾病……

[[IMG_XXXX]] 蟑螂人民党 (Cockroach Janata Party) 支持者在周六于新德里的詹特·曼塔 (Jantar Mantar) 庆祝教育部长达尔门德拉·普拉丹 (Dharmendra Pradhan) 辞职。摄影:PRIYANSHU SINGH/路透社

……印度法院将社交媒体上批评国家机构的失业青年描述为寄生虫和蟑螂。 一名在波士顿学习的学生,阿比吉特·迪普凯 (Abhijit Dipke) 回应道:“如果所有的蟑螂都聚集在一起会怎样?”

在两周内,超过 2000 万人在 Instagram 上关注了这个新成立的政党,是印度人民党 (BJP) 的两倍多。政府封锁该账户的努力在法院中受挫。

6 月初,迪普凯先生回到德里发起抗议。一位知名活动人士索南·旺楚克 (Sonam Wangchuk) 开始无限期绝食以示支持。其他几名学生加入了他的行列。随着数千名青年涌入首都,抗议活动在全国各大城市兴起。

几项不满情绪推动了他们的……

例如腰痛、抑郁和焦虑等精神健康状况、听力损失以及跌倒造成的伤害。 不仅是癌症、心血管疾病、糖尿病和慢性阻塞性肺病这些重大杀手剥夺了生活的乐趣,非致命的慢性疾病和残疾也让人们生活在持续的痛苦之中,且往往处于孤立状态。 数据告诉我们,我们在延长寿命方面已经做得极其出色,但在延长健康寿命方面则远没有那么成功。这在很大程度上可以用我们对待医疗保健的方式来解释:我们在药物治疗上挥霍无度,而在预防方面却十分吝啬。 导致寿命和健康寿命缩短的最大因素是生活方式:有害行为(如吸烟以及过量使用药物和酒精)、缺乏运动、营养不良以及创伤(包括精神和身体创伤)。 当然,我们不能忽视收入、住房、教育和物理环境等社会经济因素的作用,这些因素往往促成了糟糕的生活方式“选择”。 对于医疗系统,尤其是像加拿大这样主要由公共资金资助的系统来说,这里有重要的教训。 最主要的一点是,我们需要在预防和长期疾病管理方面做得更好。 我们不能在每个人崩溃时才去修理,或在他们生病时才去治疗,但我们可以采取更多措施来预防慢性疾病和疼痛状况。 一个显著的例子就是腰痛,研究人员将其确定为导致生活质量改变的健康恶化的首要原因。 在我们的医疗护理系统中,我们提供了许多在医学和技术上都极其卓越的针对特定疾病的护理。但我们往往忽略了人们真正关心的事情——即拥有参与日常生活的能够能力和容量。 如果你的血压、胆固醇和糖化血红蛋白(A1C)水平达标,那是很好,但更重要的是你是否能起床、散步、抱起你的孙辈并进行交谈。

愤怒。首先,政府拒绝为医学考试泄题承担政治责任,尽管近年来发生了类似的泄露事件。数百万学生及其家庭为了准备考试做出了巨大的经济牺牲。成功的几率极低。泄题破坏了公平,并造成了深刻的不信任。 其次,他们的绝望反映了一个冷酷的现实。印度仍然是全球增长最快的大型经济体。然而,其资本密集型的性质产生的生产性机会很少。官方数据显示,青年失业率超过 16 per cent。实际情况是严重的就业不足。大多数青年在非正规部门和数字化零工经济中工作,许多人从事的任务远低于

旨在最大限度地增加潜在受益者。虽然该条约的文本在 1967, 最初的地理和时间限制取消后基本保持不变,但司法裁决从根本上扩大了严格的个体迫害标准。通过将其转化为一个涵盖普遍人权侵害的宽泛伞形概念,我们通过将大规模迁徙和冲突驱动的流离失所都纳入其范围,绕过了最初的意图。 大多数西方民主国家的公民希望帮助逃离极端虐待的外国人,但没有一个国家能承诺为无限数量的人提供避难。这种紧张关系处于当前难民公约争议的核心。 然而,对于学术和法律界而言,难民法已被重新构想为一种针对任何从一个存在系统性人权问题的国家移民的人的“替代保护”形式——这是一种国际团结的革命性方法。 西方社会是否真正准备好迎接来自目前每个经历冲突国家的庞大人口?如果我们广泛地解释人权,

他们的资格和技能,尤其是大学毕业生。 最后,这些抗议活动具体化了人们对 BJP 政府整体日益增长的愤怒。该政府拒绝解雇教育部长,反映了一种在选举之间权力高度集中且无需负责的深层模式。该党在 2024 年失去了议会多数席位,作为国家民主联盟 (National Democratic Alliance) 的领导者重新执政。然而,这一挫折未能削弱其对权力的欲望。在近期的州选举中,超过 60 million 名选民被争议性地从选民名册中删除,而其中大多数选举都由 BJP 及其盟友大获全胜,这播种了日益增长的焦虑。 印度年轻人的动员唤起了人们对其 Z 世代同辈推翻政-

全球许多人都可以声称处于风险之中。 如果将其解读为我们必须审查每个人的保护请求,那么《难民公约》实际上间接促进了事实上的开放边境。 矛盾的是,该体系之所以能避免崩溃,仅仅是因为各国依赖限制性的签证制度和严格的离岸拦截。这一心照不宣的部分反映了潜在的虚伪。 在加拿大,这一难题体现在移民和难民委员会 (Immigration and Refugee Board) 历史性的积压案件,以及当地资源承受的前所未有的压力。不堪重负的市政避难所系统揭露了高尚政策与接收基础设施现实之间的日常脱节——其结果是公众善意的缓慢侵蚀。 《难民公约》75 周年提供了一个改变这一不可持续轨迹的关键机会。如今,对难民尊严最大的威胁并非国内的排外心理,尽管社会必须对此保持警惕。可能是由开放边境倡导者推动的对该历史条约的极化且激进的解读,扼杀了

与朋友在一起。 人们转向医疗辅助死亡等选项的主要原因之一,是他们厌倦了在痛苦或毫无快乐地生活。 他们想要更高质量的生活,而不仅仅是更长的生命。 如今,人们非常关注长寿。但这需要修正为“健康长寿”。 随着年龄增长,一个值得我们自问的问题是:我们希望生命的最后 10 或 15 年是什么样子?我们想在痛苦、悲惨和孤立中度过吗? 避免这种情况的方法不是期待奇迹般的疗法,而是在生命早期采取预防措施,例如保持活跃(身体和精神上)、健康饮食、避免吸烟饮酒等有害行为,并与家人和朋友保持联系。而医疗系统在其中扮演着重要的角色。 正如美国总统约翰·F·肯尼迪在 1963 年著名的论述:“一个伟大的国家仅仅增加寿命是不够的。我们的目标还必须是为这些年注入新的生命。”

近年来在斯里兰卡、尼泊尔和孟加拉国发生的事件。印度不太可能步其后尘。尽管如此,仍有几点教训值得借鉴。

首先,虽然反对党在各州选举中击败了执政党,但近年来的群众社会动员给印度人民党(BJP)带来了更严峻的挑战。针对违反宪法世俗基础的《公民身份(修正)法案》的抗议,使其执行时间从 2019 推迟到了 2024。更为成功的是 2021 年的农民抗议,迫使政府暂停了引发争议的农业改革。

其次,这些近期的抗议对印度人民党构成了更大的威胁。在莫迪先生崛起期间,许多年轻人被其数字化能力、充沛的精力和创造数百万优质就业岗位的承诺所吸引。十二年后,他们正以创意、幽默和反抗的方式,要求更好的前景、高效的机构以及政府的问责。执政党不能将其简单地斥为反国家分子或外国傀儡。其政治权威已经出现裂痕。

最后,游行、抗议和静坐体现了民主公民身份。但要实现印度青年所表达的诉求,需要反对党改革其组织并超越党派分歧,同时也需要公务员履行其职责。只有这样,他们才能将街头的诉求转化为有效的政策,并振兴民主治理。

这是一个印度故事。然而,其中的成分在当今许多民主国家中都很普遍。各国政府应当吸取这些教训。

坦诚、务实的辩论。难民保护只有在保持接收地人口的民主支持时才能生存。否则,公众的善意将继续枯竭,导致政府陷入短视且临时凑合的负担转移方案中。

至关重要的一点是,主权国家并不永久受限于扩张性的司法裁决,即便国际条约法的解释演进是合理的。各国议会拥有修改国内立法以澄清模糊法律术语的权力。通过将庇护的精准阈值法典化,大多数立法机构可以有效地推翻司法裁决,并恢复条约最初设定的结构参数。

核心的困境在于,西方很少有政治领导人有勇气面对现代难民法所特有的矛盾。

相反,主流政治家维持着一种人道主义关怀的假象,未能意识到可持续的政策需要双向的共情——既要面向需要帮助的外国人,也要面向被要求接纳他们的公民。

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A12 O THE GLOBE AND MAIL TUESDAY, JULY 28, 2026 LIFE & ARTS OPINION OPINION: PUZZLES WEATHER

W

Y

在《十二夜》中,公园才是主角

Canadian Stage 的 户外剧作 包容了 天气的不可预测性 以及其观众

Twelfth Night 在 多伦多 的海公园露天剧场 (HIGH PARK AMPHITHEATRE)

由 Gregory Prest 改编并导演 由 Caroline Toal, Ghazal Azarbad, Farhang Ghajar, Rick Roberts, Navtej Sandhu, Mike Shara, Steven Sutcliffe 和 Justin Otto 演出

无论谁创造了那个陈词滥调——即你不应该让动物或孩子参与戏剧演出,因为无论如何,他们都会抢走其他演员的风头——此人很可能从未参加过海公园之梦 (Dream in High Park)。每年,数以千计的多伦多市民及其孩子和爱犬前往多伦多西端,观看一场威廉·莎士比亚的户外剧作。不可避免地,他们的体验由海公园的环境决定:天气是否太热?是否太冷?是否有一只松鼠正打算偷走你精心藏好留待稍后享用的零食?是否在下雨?(或者,像今年原定的开幕之夜那样,烟雾浓重到不得不取消演出?)

因此,对于任何一场“之梦”的导演来说,挑战是双重的:首先,他们必须打造一场能让露天剧场里莎士比亚原教旨主义者满意的演出。考虑到选定的剧本必须被精简至 90 分钟的剪辑版,这并非易事。但他们还必须保留足够的灵活性,使剧组能够适应公园在具体某一天可能出现的任何环境条件。

由 Gregory Prest 导演并改编的《十二夜》(Twelfth Night),重点强调了该剧的核心

卡莉·西蒙透露其被诊断出患有帕金森病

玛丽亚·谢尔曼(MARIA SHERMAN) 纽约

《You’re So Vain》的演唱者卡莉·西蒙(Carly Simon)被诊断出患有帕金森病,并于近期接受了皮肤癌治疗,这位歌手在提供给美联社的一份声明中分享了此事。

“许多人给我写信,亲切地询问我相对沉默的原因,询问我的近况以及我一直在做什么。事实是,我一直在学习如何与帕金森病共存,”西蒙在周一的声明中写道。

这位 83 岁的歌手此前一直经历着一个髋关节和两个膝关节的关节炎,导致这三个关节进行了置换手术。但她的行动能力继续下降。她说,有时如果没有“相当大的帮助”,她无法行走。

“我的家人和我都知道有更深层的情况在发生。在梅奥诊所(Mayo Clinic)进行了广泛评估后,我被诊断出患有帕金森病,”她说。

“我花了一些时间来理解这个诊断,去适应它,并决定在公开场合地透露多少关于这件事,”她解释道。“帕金森病对每个人来说都不同,而且难以预测。有些日子我非常疲惫,以至于一天都无法正常运转。而在其他日子,它给了我更多活动、思考和工作的空间。”

美联社(ASSOCIATED PRESS)

[[IMG_XXXX]] 卡罗琳·托尔(Caroline Toal)和法汉格·加贾尔(Farhang Ghajar)在由格雷戈里·普雷斯特(Gregory Prest)导演并改编的《第十二夜》中主演,该剧重点表现剧中的中心三角恋,演出地点在多伦多的 High Park Dream 剧场。摄影:达莉亚·卡茨(DAHLIA KATZ)

[[IMG_XXXX]] 史蒂文·萨特克利夫(Steven Sutcliffe)饰演小丑费斯特(Clown Feste),他以一段向苍天的祈祷——请不要下雨,不要下雨!——以及一句摘自威廉·莎士比亚《如你们所愿》中罗莎琳德(Rosalind)的断言“爱情不过是一种疯狂”,迎接观众进入露天剧场。

[[IMG_XXXX]] 被诊断出患有神经系统疾病帕金森病的卡莉·西蒙表示:“我花了一些时间来理解这个诊断,去适应它。” 摄影:查尔斯·赛克斯(CHARLES SYKES)/美联社

(……)三角恋,巧妙地在滑稽与庄重之间取得了平衡。普雷斯特的剪辑在后半部分更为强劲:莎士比亚喜剧的新观众在开始阶段可能会难以跟上关键的情节转折,以及剧中众多的角色姓名。

但总的来说,这部作品非常出彩。(字面意思,有时确实如此:音效设计兼作曲家奥利维亚·惠勒(Olivia Wheeler)创作的几首歌曲听起来像海员号子,而其他歌曲则更为沉思,并配以轻快的鲁特琴伴奏。)演员卡罗琳·托尔(Caroline Toal)和加扎尔·阿扎巴德(Ghazal Azarbad)地抛出他们心碎的台词,仿佛在参加一场皮克球锦标赛。

迈克·沙拉(Mike Shara)、纳夫泰杰·桑杜(Navtej Sandhu)和贾斯汀·奥托(Justin Otto),

今天就为青少年心理健康做出贡献。

赛道距离:2公里或5公里



   rbc.raceforthekids.ca

 2026年9月19日

梅尔·拉斯曼广场 (Mel Lastman Square)

与此同时,在《第十二夜》中那些更幽默、덜 痛苦的间奏曲中发现了亮点。 故事的主线与以往基本相同,但删除了开场白。“如果音乐是爱情的食粮,请继续演奏”在这里被莎士比亚其他剧作中的几段引用所取代。小丑费斯特(Steven Sutcliffe)以一段向苍天的祈祷(请不要下雨,不要下雨!)欢迎我们进入露天剧场,并断言“爱情仅仅是一种疯狂”,这段话摘自《只要你喜欢》中的罗莎琳德。 我们很快遇到了维奥拉(Toal,她延续了去年斯特拉福德艺术节中饰演安妮·雪莉时那般令人难以抗拒的温暖感),她被困在神话之地伊利里亚,与她的双胞胎哥哥塞巴斯蒂安(Ori Black)失散。维奥拉很快女扮男装,为一位名叫奥西诺的公爵担任侍从(并且迅速坠入与后者的爱河)。 当然,问题在于奥西诺爱上了奥利维亚(Azarbad),她是伊利里亚一位贵族的女儿,而她反过来又爱上了“塞萨里奥”——也就是维奥拉。这段爱情三角关系在自身中不断扭转,演绎着这种流动性。

而且感觉找回了自我。” 帕金森病是一种剥夺人们对肢体运动控制能力的神经系统疾病。它通常始于震颤,其特征为动作缓慢、拖步行走、肢体僵硬、平衡问题和语言含糊。据帕金森基金会估计,约有 100 万美国人患有帕金森病,全球范围内有 10 million 人患病。该病通常在 60 岁之后出现,不过有时会在 50 岁之前发病。确切病因尚不明确,但当产生大脑化学信使之一——多巴胺——的细胞开始恶化并死亡时,就会发展为帕金森病。 虽然无法根治,但有相应的治疗方法,包括影响多巴胺水平的药物以及手术植入的震颤阻断装置。患者还可以从物理治疗和职业治疗中获益。 “我开始了治疗,包括服用药物以帮助...

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性别与性向的探讨带有令人惊讶的现代倾向(且 Prest 几乎没有改动一个词)。与此同时,奥利维亚的院子里正酝酿着麻烦:脾气古怪的马尔伏里奥(Rick Roberts 饰)成了安德鲁·阿格丘克爵士(Otto 饰)、托比·贝尔奇爵士(Shara 饰)和玛丽亚(Sandhu 饰)一系列恶意恶作剧的目标。这三个骗子策划了一个计划,让马尔伏里奥以为奥利维亚疯狂地爱上了他——而事实上,她对他这个古板的人感到厌恶,对他被诱骗在她面前穿上的那双花哨的黄色长袜则更加厌恶。Prest 以轻巧的触感导演了这部作品,其错综复杂的假身份和单相思之情十分迷人。他的干预极少,尤其是在经过中点之后,他的改编版本几乎看不出接缝。少数制作元素可以更流畅一些:Wheeler 的声音设计有时会让演员的措辞变得模糊不清,而服装设计师 Sim Suzer 为 Feste 选择的帽子在 Sutcliffe 转向左侧或右侧时会完全遮住脸。但总的来说,这部活泼的浪漫喜剧进行得十分顺利。然而,如果说我对《第十二夜》最满意的一点,那就是该剧能够包容那些恰好逛到 High Park Amphitheatre 的广大观众。在周日晚上——没有下雨!——我看到年幼的孩子们愉快地勾勒 Suzer 的布景和服装,并在他们对不理解的剧情提出聪明的问题时在旁倾听。我闻到了来自多伦多一些最受欢迎的餐饮店的野餐气息(并且有些后悔在去公园的路上没有去 Blondies 买个比萨)。我看着年幼的婴儿在父母怀中入睡,听着猎犬在周围的小道上愉快地吠叫,不禁微笑。不要在孩子和狗面前做戏剧?请便。在 Dream in High Park,公园本身才是重点——而且这一次,剧本也不太糟糕。

《第十二夜》将演出至 9 月 6 日。

“僵硬和其他症状,”西蒙说。“这种疾病没有整齐或可预测的时间表。在决定我将度过怎样的一天之前,它并不会咨询我的日程表。” 她还分享说,与此同时,她面部的基底细胞癌(一种常见的皮肤癌)也在接受治疗。她进行了手术,癌症被切除了,“但手术影响了我的外貌,让我对在公众场合出现感到更加自卑,”她说。 她说音乐是一剂慰藉,在 8 月 14 日,她将发布《Comes in Waves》,这是她自 2008 年以来第一张原创歌曲专辑。 “创作音乐为那些并不总是有形状的日子赋予了形状。它给了我一个无需离开房间就能去往的地方,”她继续说道。“它提醒我,疾病可以改变你的生活,但不必成为你的全部生活。”

第 13 页

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插图由 CATHERINE CHAN 绘制

我的伤疤是身体韧性的提醒

第一人称

在我几乎死于一种疾病后,我唯一想做的就是遮住那段

我永远无法切断的联系。现在,我接纳了它, Renee Alkass 撰文

我记得我留下的第一个伤疤。 我想大多数孩子的第一个伤疤都是这样产生的。意外。我的右肘擦到了路面,血

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顺着我的前臂冲下,掉进碎石堆里。现在,我几乎看不见那道疤痕,但我永远不会忘记跌落时的记忆——前一分钟还好好的,下一分钟就陷入绝境。

在我 27 年的人生中,我又留下了许多疤痕。因为糟糕的厨艺,手指上有几处伤痕;因为花样滑冰时的一次严重摔跤,大腿上有一道;还有一道在脚上,是我那情绪多变的猫送给我的。然而,我有一道最明显的疤痕。它是印在我的脖子上的。那道每个人都认为是大而显眼的吻痕的疤痕。

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这道疤痕是我在八年前获得地,当时一种神秘的自身免疫性疾病侵蚀了我的身体。由于医生无法查明的原因,我当时正在走向死亡。在经历了三个月持续的上呼吸道感染、体重减轻以及伤口无法愈合之后,我的双肺全部塌陷。医院的重症监护室(ICU)团队很快意识到我需要插管,并采取最极端的生命维持形式:ECMO。这种在医学上被称为体外膜肺氧合(Extracorporeal Membrane Oxygenation)的机器可以暂时充当心脏或肺的功能,接管氧气供应和血液循环。在心脏骤停、心力衰竭或像我所经历的严重呼吸衰竭的情况下,ECMO 是最后的手段。

我的医生在我的颈外静脉做了一个锯齿状切口,以插入一根像花园软管一样粗的管子。血液被泵出体外,进入 ECMO 的机械体中。在那里,机器在将血液返回我的循环系统之前,去除了二氧化碳并增加了氧气。这台机器救了我的命,为此我永远感激。但留给我的这道疤痕就像一个我永远无法切断的纽带——它将永远...

永远提醒着我,那是发生在我身上最糟糕的事情。

这道疤痕形状奇特。它看起来像是一个正在学习缝纫的小孩子所留下的作品。它参差不齐,之字形交错且扭曲。它从未平复,始终凸起,仿佛皮肤拒绝遗忘。我一直对它的颜色感到厌烦。它从深红色变成了浑浊的棕色,就像是我忘记擦掉脖子上的污垢一样。

我妈妈告诉我,要接纳我的战斗伤痕。要炫耀它,而不是恐惧它。“它现在是你的一部分,”她说,“正是这一点让你成为了你。”

让我恼火的是,她是正确的。我的疤痕是生命的证明。它们现在是我故事的一部分,我无法抹去过去。但克服不安全感从来都不是一件容易的事。

在医院住了一个月出院后,我拒绝把头发盘起来。我不希望世界看到我的脖子。我能感觉到有人在盯着看,我试图完全避开他们的好奇心。

如果有人敢问发生了什么,我会说:“这是一个很长的故事,”或者我会完全回避这个问题。回避真相比正视它要容易得多。

但在过去的一年里,我内心中的某些东西改变了。也许是我支付的所有治疗起到了作用,或者仅仅是因为年龄的增长,但我不再那么执迷于隐藏,而更多地专注于释放。我开始思考:我为什么要承受隐藏某种永远无法抹去之物的紧张感?

就在前几天,我将头发向后梳成一个紧凑的发髻,一个新朋友问起了我的 ECMO 疤痕。我决定第一次讲述我的全部真相。在一家繁忙的咖啡馆里,我滔滔不绝地讲述我的住院经历,令我惊讶的是,对方的反应温柔且充满鼓励。我能看到他们眼中闪烁的敬畏之情。这几乎就像是我的疤痕变成了一个小小的提醒,告诉人们身体在经历了这一切之后是如何生存下来的。

我认为没有什么比这更让人感到自由的了。

Renee Alkass 居住在安大略省的西姆科县。

“第一人称” (First Person) 是由读者提交的每日个人文章。有故事想分享吗?请参阅我们的指南:tgam.ca/essayguide。

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第 14 页

星期二,2026 年 7 月 28 日

1.

1 慢慢进入状态 10 在 2014 年从艺名中去掉 $ 符号的歌手 15 头目/负责人 16 海洋顶级掠食者 17 参加过夜间课程? 18 来自面包店的散发物 19 日本庭园的描述词 20 意为“假”的前缀 22 丘比特在希腊神话中的对应者 23 “Clarity”DJ Anton Zaslavski 的艺名 25 过时的索尼游戏机(简称) 26 十分硬币 27 “Nice to ___ Other” (Olivia Dean 的歌曲) 31 蛇形鱼 33 理解 34 容易产生通货膨胀的派对物品? 38 关于芬恩和他的神奇狗杰克的卡通片 39 危机袭击时的出路 40 Poli- ___ 41 电子邮件签名中的编号 42 “到!” 43 坎贝尔浓汤容器 45 纳税之月的缩写 47 棒球卡数据 51 隐藏在 “chariot race” 中的西班牙语单词 52 在谷歌上查找 56 “真恶心!” 57 不文明的起义 59 刻薄评论前的免责声明? 61 “真心实意地!”

桥牌 作者:STEVE BECKER

西家发牌。 南北家脆弱。

叫牌过程:

西家 北家 东家 南家 过 1 [D] 过 1 [H] 2 [C] 4 [H] 首攻 —— 梅花K。

隐喻十字词谜

    



   





横向 1 努力争取这些优势的人 (8) 5 低声闲聊并喘口气 (4) 8 驾车事故中可能被抛到空中的一样东西 (5) 9 哇!我是一名记者 (7) 11 导致不幸生活的霉运 (3) 12 非常明显的痕迹变得混乱 (4,5) 13 不再合适?打击!(6) 15 狗围绕着沉重的食物 (6) 18 我转租的需要装修的大厅 (9) 19 一点黄油正好 (3) 20 绕一英里,驾驶船只 (7) 21 关于一条河的传统故事 (5) 22 在树前发现车轮位置 (4) 23 失去对现代技术的掌控?绝不可能 (6,2)

纵向

1 华丽 2 接受一对一指导的学生 3 正式修订 4 讽刺的是,公牛看不见的颜色 5 航行 6 在宙斯面前的阿瑞斯和阿波罗 7 德彪西的 “Clair de ___” 8 做得更好 9 由网格中的字母组成的谜题(等一下...) 10 夏威夷的一种树,是另一种带橡果的树的字母异位词 11 计算错误 12 针对 NFL 最终独特比分的艺术性合成词 13 Sam-I-Am 可能会喜欢的早午餐菜肴 14 餐具通常的销售方式 21 警觉的象征 24 深入挖掘 28 警觉的 29 凝固,像冷掉的肉汁 30 游走之所? 32 1.06 夸脱 34 通俗说法中的浪漫度假地 35 应当适量采取的东西? 36 修道院人物 37 摇晃,如调酒 40 蔑视对待 44 “Gymnopedies” 作曲家 Erik



© News Licensing/Times Media Limited

纵向 1 崩塌后 Deb 去世,她的亲人在哪里?(7) 2 圣诞节期间收到的卷册,一部小说 (5) 3 听起来,剑桥大学学院适合王子 (11) 4 戏弄,在半暗中抓住了被留下的一方 (6) 6 维持了一首出错的诗 (7) 7 持有黑桃的帮派态度 (5) 10 撤回广告以阻止某事发生 (4,3,4) 14 迅速行动并抚养十个儿子?(7) 16 请求进入,缺乏能量,并进食 (7) 17 液氧的书本量 (6) 18 面罩 —— 客人失去了它 (5) 19 指明句号的位置 (5)

编辑:AIDAN DESHONG

46 “淑女鸟”中的 Saoirse 48 嘲弄 49 “哎呀,谢谢!” 50 与弹跳音乐相关的舞步

一名出色的庄家在打牌时,就像能看穿牌背一样处理很多手牌。 为了提供一个很好的例子,请研究这场 1978 年奥林匹亚双人赛的牌局。 看起来在四心定局时,庄家必须输掉四手牌 —— 两手梅花,一手黑桃和一手红心 —— 但结果并非如此。 西家首攻梅花K,在东家打出 9 之后,继续攻出梅花A。随后西家打出梅花J,庄家 Peter Nagy 用红心K在明手牌中将其吃掉。与此同时,东家弃掉了一手黑桃且

数独难度等级:HHIII

指令 填充网格,使每一行 9 个方格、每一列 9 个方格以及每个 9 格区域(3x3)都包含数字 1 到 9,顺序不限。 每个谜题只有一个解。

指令

肯肯谜题 (KENKEN)

©2026 KENKEN Puzzle LLC. KENKEN 是 Nextoy, LLC 的注册商标。 由 Andrews McMeel 发行 www.kenken.com

每行和每列必须包含 1 到 6 的数字,且不得重复。

53 LA 篮球运动员 Martin 54 包含虹膜的眼球层 55 额外的工作福利 58 在图卢姆 (Tulum) 处于……状态 60 撕裂

在第二和第三轮梅花中打出了一枚方块。 Nagy 现在从死牌中打出红心 9,这是一个非常有远见的打法,在东家打出小牌后,他用 A 赢回。当西家出尽后,Nagy 领先一张黑桃到 A,然后打回红心 7,被 8 和 J 盖住。 接下来是一张方块到 K,随后是红心 4,被东家的 5 和宣告者的 6 盖住。在兑现最后一张红心 Q 后,Nagy 领先梅花 Q,东家拒绝吃掉,因为那样他将不得不向死牌的 A-J 回传方块。 这仅仅是推迟了东家的痛苦。宣告者接着领先一张黑桃到死牌的 K,让东家在“吃掉并回传方块”还是“弃牌并允许宣告者将黑桃 K 作为第九墩”之间做出选择。在后一种情况下,死牌随后将兑现方块 K 作为其第 10 墩。 就这样,由于他的谨慎打法,Nagy 在大多数其他处于相同合约的宣告者失败的情况下,完成了四个红心。

©2026 King Features Syndicate Inc.

解答

昨天的通用填字游戏 (UNIVERSAL CROSSWORD)

昨天的隐喻填字游戏 (CRYPTIC CROSSWORD)

3 , 1 . ) / $ 0 , 1 * 2 5 8 & , $ 2 1 2 / ' 6 $ / 7 ' , & . < 9 * 6 7 $ $ ; ( 9 ( 1 7 / $ 0 ( 1 7 5 5 ( ' ( % 5 ( & 2 1 % ( $ & 2 1 6 6 $ , 3 & 3 5 < , 1 * $ 7 6 ( $ & ' ' + & $ / + 2 5 6 ( 2 7 + ( / / 2 $ 8 $ 5 ( 9 3 5 $ 0 % / , 1 * 5 2 6 (

Page 15

多伦多市长

要求归还 岛屿土地

随着机场扩建计划 被否决,奥利维亚·乔 表示省政府应归还 近期征收的财产

LIAM CASEY

多伦多市长奥利维亚·乔(Olivia Chow)希望将这座城市的岛屿土地归还。市长在周一表示,安大略省政府应归还其近期通过新立法征收的土地。该立法是省长道格·福特(Doug Ford)推动扩建比利·毕晓普-多伦多市机场(Billy Bishop Toronto City Airport)的一部分,旨在允许喷气式飞机在该机场起降。

在联邦交通部长史蒂文·麦金农(Steven MacKinnon)上周收到公众咨询反馈后否决了福特先生的岛屿机场扩建计划,乔女士提出了她的要求。

“把我们的滨水区还给我们,”乔女士周一在社交媒体上表示。

市长表示,她和市议员奥斯马·马利克(Ausma Malik)向市议会提交了一项紧急动议,要求归还岛上及周边的土地。该文件称,此项动议被视为紧急,是因为这是省议会秋季复会前,市议会本届任期内的最后一次会议。

乔女士希望省政府撤销 Bill 110,该法案于 6 月初生效。尽管立法措辞有所限制,但该法赋予了省政府接管整个多伦多群岛的能力,不过省政府表示仅会接管必要的部分。

省政府还将该市从一项管理比利·毕晓普机场的长期三方协议中剔除。安大略省接替了该市在协议中的位置,与联邦政府以及联邦独立机构多伦多港务局(Toronto Port Authority)共同参与。

对扩建持乐观态度的港务局首席执行官 RJ 斯滕斯特拉(RJ Steestra)在关于该法案的委员会听证会上表示,机场扩建在 25 年内将耗资 $4-billion 至 $5-billion,将由乘客和航空公司承担费用。

机场的客运航站楼由 Nieuport Aviation 拥有,该公司由总部位于美国的 J.P. Morgan Asset Management 控制。

乔女士表示她仍然没有

[[IMG_XXXX]] 4 月 24 日,行人在多伦多的小挪威公园(Little Norway Park)经过,旁边是比利·毕晓普机场的土地。DUANE COLE/THE GLOBE AND MAIL

检测:在艾伯塔省,发现癌症以外疾病的患者将无法获得报销

来自 A1

来自 A1

艾伯塔省是第一个允许私人自费进行核磁共振成像(MRI)扫描的省份。加拿大第一家私人 MRI 诊所于 30 年多前在卡尔加里开业,目前其他几个省份也允许自费进行 MRI 和 CT 扫描等检测,但通常需要医生的转诊。

官方反对党艾伯塔省新民主党(Alberta NDP)在周一批评了该新计划,称其仅将使那些愿意花数千美元进行检测的人受益。

去年 10 月,史密斯女士和时任初级与预防性医疗服务部长的阿德里亚娜·拉格兰日(Adriana LaGrange)宣布了即将实施的变更,届时将允许艾伯塔省居民私人购买“他们希望的任何诊断筛查和检测服务”,包括 MRI、CT 扫描、全身扫描和血液检查。

史密斯女士在去年 10 月发布的一段视频中表示,如果购买的检测发现了“重大或危急情况”,自费费用将获得全额报销。

周一的公告限制了该承诺的范围。从本周五开始,发现新癌症诊断的艾伯塔省居民将获得检测费用报销,但如果发现的是其他疾病,则无法获得费用覆盖。

新规定将允许私人诊所为其在法规允许范围内的诊断检测设定价格。

政府将按规定的费率报销扫描和检测费用,相关费率将于周五公开。

“我们只想将权力交给患者,让他们能够进行这些让他们安心的检测,并希望能获得‘无异常’的结果,”史密斯女士说。“但如果他们最终被诊断出某种疾病,我们希望他们能获得报销,以便能够直接进入治疗阶段。”

艾伯塔省初级与预防性医疗服务部长贾斯汀·赖特(Justin Wright)表示,该省选择从癌症诊断开始,以便能够构建出一个

【OCR清理说明:此处文本出现跳跃,进入另一篇关于多伦多机场/土地争议的报道】

看到这些计划。周一,邹女士(Ms. Chow)在她的帖子中表示:“尽管多伦多港务局(Toronto Port Authority)一直积极隐瞒,但我们一直在要求查看这些计划。我们研究了对住房、环境、拥堵等方面的影响。我们地发现了谁将从中受益——比如摩根大通(JP Morgan)的华尔街银行家。议会已正式反对这种不可接受的过度扩张。我们现在依然反对。”

周五,麦金农先生(Mr. MacKinnon)表示,联邦政府“在现阶段”专注于目前正在机场进行的安全性升级。“我们不会追求任何侵害像小挪威公园(Little Norway Park)或汉兰点海滩(Hanlan’s Point Beach)这样珍贵公共空间的计划,或导致噪音增加、产生重大环境影响或阻碍多伦多建设急需住房能力的计划,”他在一份声明中说道。

当时,交通部长普拉布米特·萨卡里亚(Prabmeet Sarkaria)表示,省政府将继续推动机场扩建——他的办公室周一表示该声明依然有效。这位部长在周五表示:“随着这项工作的继续,我们期待并预见到一个能确保项目保护公共空间(包括多伦多群岛)、解决潜在噪音和环境影响、扩建并改善小挪威公园、支持该地区新住房机会并为当地社区带来持久利益的计划。”

省反对党对联邦政府的决定表示欢迎,并敦促福特先生(Mr. Ford)退让。新民主党党魁玛丽特·斯泰尔斯(Marit Stiles)表示:“目前,Bill 110 仍然是法律。道格·福特赋予了自己想对小挪威公园和多伦多群岛做任何事情的权力。现在是时候结束这次土地掠夺,废除 Bill 110,将多伦多群岛和小挪威公园归还给多伦多。”

省自由党议员阿迪尔·沙姆吉(Adil Shamji)称 Bill 110 为一个“糟糕的交易”。他说:“这项立法应该被撕毁。这不过是道格·福特在没有做好准备的情况下,为白日梦和私人项目做出狂妄承诺的一系列案例中的又一个例子。”

加拿大新闻社(THE CANADIAN PRESS)

新规则将允许私立诊所针对法规允许的诊断测试自行定价。政府将按照规定的费率对扫描和测试进行报销,相关费率将于周五公开公布。

siblings Serge Pisapia, 70, 和 Christine Pisapia, 62, 共同在蒙特利尔总医院的移植大使计划中担任志愿者。Pisapia 女士在 2014 年向她的哥哥捐献了一个肾脏。LISA MILOSAVLJEVIC/THE GLOBE AND MAIL

移植:该计划助力招募新志愿者,让患者能向医疗专业人员提供其经验洞察

“我与许多潜在的受捐者交谈,帮助他们揭开迷雾,缓解他们的恐惧和焦虑,”皮萨皮亚(Pisapia)女士表示,并补充说她的哥哥本可以从与像她这样的人交谈中获益。“他们能亲眼看到一个经历过这一切且恢复良好的人。”目前一项招募更多志愿者的活动正在进行中。在魁北克的一位新招募者是 34 岁的加拿大演员乔纳森·范德宗(Jonathan Vanderzon)。2024, 3月,范德宗先生接受了手术,摘除其左肾以捐献给一名处于肾衰竭状态的儿时好友。在范德宗先生通过医疗审核成为捐献者之前,经历了为期九个月的流程。范德宗先生表示,康复过程很快;手术仅仅三周后,他就开始跳排舞了。他的朋友也恢复良好,并已能够前往新西兰旅行。“我的肾脏比我跑得远,”范德宗先生笑着说。他表示,这次手术还给他留下了持久的东西。“最重要的是,成为一名活体捐献者意味着我能留住我最好的朋友,所以这是最重要的。”范德宗先生期待在计划中担任大使志愿者。“我只是想把这个消息传出去,”他说,“我想让人们知道这是一个选项,而且它完全没有对我的生活产生任何负面影响。它只带来了好处。”皮萨皮亚先生很看重通过大使计划传播意识的机会。此外,他说志愿者工作也给了他回报:对捐献者思维方式的新洞察,他发现这通常是非常感性的。在听到个人故事后,他对自己想要做的事情以及这如何影响他们有了新的认识。“他们有一个使命,并被驱动去实现那个使命,”他说。

“如果像我这样犹豫的受捐者能知道那种程度的使命感,也许他们会对让另一个人承受这一切而感到更少的愧疚或责任感。”大使计划还支持了医疗专业人员的工作。蒙特利尔总医院的资深执业护士谭维姬(Vicki Tan)表示,虽然他们可以提供医疗专业知识,但他们没有患慢性肾脏病以及它如何影响日常生活的体验。“这是我们之前所缺失的,”她说,“我们可以进行教学,但我们不能完全理解一个人所经历的一切。”谭女士表示,除了患者接受透析所需的时间外,透析还会消耗身体能量并影响生活质量。皮萨皮亚女士表示,她的哥哥此前不知道透析(通过模拟肾脏功能来清除有害废物)旨在为患者在移植前提供一座桥梁。虽然她表示该程序能维持患者生命,但它给医疗保健系统带来了可观的成本。由捐献者、患者及其亲属组成的国家非营利组织“肾脏联盟”(The Kidney Alliance)将这一数字定为每位患者每年 $100,000。相比之下,移植在第一年的费用约为 $100,000,但在随后的年份中会降至每年约 $20,000。该联盟表示,更多的移植

他们有一个使命, 并被驱动去 实现那个使命。 如果像我这样 犹豫的受捐者 能知道那种程度的 使命感,也许他们 会对让另一个人 承受这一切而 感到更少的愧疚 或责任感。

“可持续” 系统 且 不使服务过度负担。 赖特(Wright)先生的发言人 杰伊·朗(Jaye Lang)在电子邮件中表示, 该省一直计划采取分阶段的方法, 未来的扩展 “将随时间推移而考虑”。

这将减轻一个过度压力系统中日益增加的医疗保健成本负担。尽管皮萨比亚(Pisapia)女士向她的哥哥极力推荐,但最终说服他接受她捐赠器官的人并非她。只有在一名外科医生建议,从医学角度来看,接受妹妹的肾脏比接受死者捐赠的肾脏更理想后,他才表示同意。患者使用活体捐赠器官的平均维持时间比使用死者捐赠的器官更长。2014年11月6日的早晨,这对兄妹在蒙特利尔的皇家维多利亚医院进入相邻的手术室。在其中一个房间里,皮萨比亚女士的肾脏被取出;在另一个房间里,该肾脏被移植到皮萨比亚先生体内。在妹妹被推入手术室之前,皮萨比亚先生回忆道,身为一名受训飞行员的妹妹在担架上对他竖起了大拇指。他还记得她当时在微笑,且看起来充满自信。“当然,在进入手术台之前看到她处于这种心情,也给了我信心,”他回忆道。随后,在两项手术全部完成且镇静药物失效后,两人身着医院病号服,在病房中与部分家人在一起,经历了一次情感深沉的重逢。在那里,他们手牵着手,手上还插着静脉注射针,在这次共同经历的定义生命的体验中流下了皮萨比亚女士所描述的“喜悦的泪水”。皮萨比亚先生地获救了。

塞尔日·皮萨比亚 (SERGE PISAPIA) 肾移植 接收者

虽然该制度在艾伯塔省是首次尝试,但该省的卫生机构此前曾在规模小得多的非官方基础上,为私立检测提供报销。之前的政策与艾伯塔省新的自荐系统之间几乎没有相似之处。通过信息自由请求获得的文档显示,该省卫生机构艾伯塔省健康服务中心(Alberta Health Services, AHS)自 2011 年起一直执行一项其描述为“非正式且未经批准”的政策,为少数通过医生转诊在私立诊所自费进行紧急 MRI、CT 和 PET/CT 扫描的患者提供报销。

AHS 建议在 2025 年 3 月终止该政策。文件称,每年大约有 40 到 50 人提交报销申请,其中约 10% 获得批准。这份经过脱敏处理的文件称,申请经常被拒绝,因为 AHS 之前的标准从未对外公布。

“在许多情况下,开单服务提供商在未遵循适当步骤的情况下,错误地告知患者他们将获得报销,从而导致了不切实际的预期,”这份建议终止政策的简报指出。

艾伯塔省健康服务中心未就询问其何时终止该计划的评论请求做出回应。

艾伯塔省新民主党(NDP)的卫生评论员沙里夫·哈吉(Sharif Haji)在的一份声明中表示,新规则证明了史密斯(Smith)政府已经“放弃了修复公共医疗保健”。

“今天的公告保证了那些能够支付数千美元进行某些检测的人可以更快地获得诊断检测,而其他所有人则不得不等待更长时间,”哈吉先生说道。

联邦卫生部未就评论请求做出回应。

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S&P/TSX 35,568.14 +199.04

T

布鲁克菲尔德 (Brookfield)

中东 私募股权 基金筹集 $2-billion

K

JAMES BRADSHAW 机构投资 记者

布鲁克菲尔德资产管理有限公司 (Brookfield Asset Management Ltd.) 正在推进其在中东的扩张,为其区域私募股权基金筹集资金,并投资于能源基础设施,尽管伊朗战争给贸易和安全带来了威胁。

布鲁克菲尔德周一宣布,其名为“布鲁克菲尔德中东合伙人” (Brookfield Middle East Partners,简称 BMEP) 的基金在首次交割中筹集了约 US$2-billion。该基金构思于 2024 年,旨在将其资本的一半投资于沙特阿拉伯,其余部分投资于阿拉伯联合大公国、卡塔尔、阿曼、科威特和巴林等国。

管理着 US$910-billion 的沙特阿拉伯公共投资基金 (Public Investment Fund, PIF) 这一主权财富基金是 BMEP 的基石投资者。

布鲁克菲尔德还从其他区域和全球投资者那里筹集了资金,但在周一的公告中未披露其身份。目前筹集的资金包括布鲁克菲尔德向该基金承诺的 US$500-million (500)。该基金预计将在今年晚些时候进行最终交割,届时其总资产可能会突破 US$2-billion 大关。

由于伊朗使用火箭弹和无人机袭击了卡塔尔的拉斯拉凡 (Ras Laffan) 液化天然气综合体等关键基础设施,伊朗战争迅速将该地区的其他国家卷入其中。预计战争拖延时间越长,在该地区投资的风险就越高。

BROOKFIELD, B6

美国联邦

储备委员会新 主席 Warsh 面临迄今为止 最大的考验

COLBY SMITH

凯文·沃什 (Kevin Warsh) 本周在他担任联邦储备委员会主席的第二次会议上将面临一个关键选择。在通货膨胀率在过去五年中一直高于央行预期之后,他将自己的名誉押在降低通胀之上。现在,他必须决定是否通过推动提高借贷成本来兑现这一承诺。

周三的决定将为沃什先生提供他第一次真正证明自己的机会,但无论哪个方向都存在风险。

强迫同事提高利率将是控制公众对通胀预期的一种可靠方式,同时也能让那些质疑沃什先生是否愿意在口头强硬之外采取实际行动抑制物价压力的人们闭嘴。

然而,陷阱也很多,这取决于沃什先生如何为此辩护。

在通胀数据相对温和之后提高利率,可能会在官员将如何应对经济变化方面造成混乱,从而考验已经处于紧张状态的金融市场。与此同时,与伊朗战争的重新升级已将油价拉回每桶约 US$100 左右。

沃什先生还可能不得不应对美国总统唐纳德·特朗普 (Donald Trump) 的批评,后者任命了他担任此职,并明确表示希望降低利率。

S&P 500 7,413.18 +1.20

DOW 52,210.08 +262.83

对美国关系的焦虑正损害加拿大企业投资,调查显示

SOPHIA BERTUZZI

企业

在经历了 16 个月贸易政策的波动以及与美国关系紧张之后,持续的不确定性继续阻碍着加拿大的企业投资——但一项调查发现,很少有公司计划将业务扩展到美国或迁至那里。

根据加拿大统计局与加拿大商会合作开展的一项季度调查,10% 的加拿大制造企业计划在未来 12 个月内推迟重大投资以应对美国的关税,而所有企业的这一比例为 5%。

该调查于 4 月 1 日至 5 月 6 日之间进行,涵盖了 9,200 份以上的回复。由于时间范围的原因,它没有考虑到对特朗普政府上周宣布、并将于 8 月 19 日起生效的对多种加拿大商品征收 50% 关税的反应。

“今天每一个被推迟的投资决定,都意味着明天将失去一次工厂扩建、技术升级或生产力提升的机会,”加拿大商会商业数据实验室副总裁 Patrick Gill 在新闻稿中表示。“这就是不确定性带来的隐藏经济成本,而且是加拿大无法承受持续增加的成本。”

企业投资低迷数十年以来一直是加拿大经济面临的持久挑战,但在美国总统唐纳德·特朗普的第二个任期内,这一问题变得更加紧迫,因为加拿大最大的贸易伙伴正变得日益倾向于保护主义。


亚洲 即便中国的 AI 巨头 也无法想出 如何通过该技术获利 B3

ROB CARRICK 在高通胀时代 退休是怎样的体验 B8

投资 可能在波动市场中 提供防御的 TSX 股票 B9

乔治·威斯顿 (GEORGE WESTON) ................. B9 龙巴劳 (LOBLAW) ................................ B9 枫叶食品 (MAPLE LEAF FOODS) ............. B9 优质品牌 (PREMIUM BRANDS) ................ B9 TMX 集团 (TMX GROUP) .......................... B9

纳斯达克 (NASDAQ) 24,932.08 -43.74

SHEIN IPO 引起审查

投资者担心这家时尚巨头在香港首次公开募股时,可能无法证明其寻求的高达 $50-billion 估值的合理性 B2

客户 5 月在多伦多访问一家 Shein 弹出式商店。该公司周日发布的一份招股说明书显示,其增长速度放缓且盈利能力大幅下降。LAURA PROCTOR/THE GLOBE AND MAIL

美元 70.85/1.4114 -0.11/+0.0021

[ 零售 ]

特朗普以一声巨响和一声呜咽

结束了“美国世纪”

托尼·凯勒 (TONY KELLER)

观点

欧洲复兴计划可能是历史上最伟大的开明自利行为。该计划以时任美国国务卿乔治·C·马歇尔 (George C. Marshall) 的名字命名,通常被称为“马歇尔计划”,由美国出资在第二次世界大战的破坏之后重建欧洲大陆。在 1948 和 1951, 之间,华盛顿通过向 17 个国家提供超过 US$13-billion 的援助,启动了欧洲经济。为了提供一个参考维度,以 1950, 美元计算,1950 的美国国内生产总值(GDP)为 US$300-billion。该援助计划的开支相当于美国经济的 4% 以上。

如今,美国的年度 GDP 超过 $30-trillion,这意味着如果以今天的美元衡量并相对于今天的美国经济,马歇尔计划的价值将达到 US$1.3-trillion。

部分援助以贷款形式提供,但大部分是以赠款形式给出的。欧洲人将其中大部分资金用于购买美国

黄金(盎司) US$4,077.00 +6.20

石油 (WTI) US$82.61 -6.70

去年,美国对包括钢铁、铝和汽车在内的关键工业部门征收了 Section 232 关税。这些征税打击了安大略省和魁北克省的制造业基地,导致工厂出现大规模裁员甚至停产。周五,美国针对数十个国家(包括加拿大)实施了与强迫劳动相关的 Section 301 关税,这是白宫在遭遇法律挫折后重建关税努力的一部分。

经济数据和调查显示,贸易的不确定性已经压制了招聘和投资计划。

根据商会对比统计局 (Statscan) 调查数据的分析,在包括油气、采矿、林业和农业在内的自然资源部门中,近 10 per cent 的企业也计划推迟重大投资。

调查,B6

出口产品,包括用于重建破碎大陆的食品、机械和原材料。

这种良性循环使欧洲人和美国人都获益。随后出现的是长达数十年的经济繁荣——在法国被称为“光荣三十年” (Les Trente Glorieuses),在德国被称为“经济奇迹” (Wirtschaftswunder)——以及一个让全世界(尤其是美国人)都富裕起来的繁荣周期。

苏联拒绝让东欧获得马歇尔计划的援助。在随后的几年里,西欧的财富与自由与东欧的停滞与独裁之间的差距变得如此之大,以至于苏联不得不筑起一道墙,以防止东欧人为了摆脱贫困而逃离。

这就把话题带到了现在的困境。

那位口号是“让美国再次伟大”的总统,对那些“让美国伟大”的事物既无知又敌视。唐纳德·特朗普的国际关系模式,向斯大林元帅学习的比向乔治·马歇尔学习的更多。

GCAN (10-YR) 3.56% -0.05

Page 18

Shein 的宏大 IPO 计划遭到质疑

投资者预计将审视这家快时尚零售商高达 $50-billion 估值,因为其盈利能力正在下降

YANTOULTRA NGUI SELENA LI

在周日提交的一份招股说明书显示其增长放缓且盈利能力大幅下降后,投资者预计将审视 Shein 在香港首次公开募股(IPO)中所寻求的 $40-billion 到 $50-billion 估值是否合理。

2025, 年营收增长 8 per cent 至 $41.8-billion,但净利润下降 39 per cent 至 $2.06-billion。文件显示,这家快时尚零售商在今年第一季度出现了 $99-million 亏损。

虽然季度亏损部分反映了在会计变更后,可转换可赎回优先股产生的 $328-million 公允价值计提,但营收增长放缓和核心收益疲软凸显了该公司面临的日益增加的挑战。

“香港交易所(HKEX)的机构投资者将会……重点关注 2.9-per-cent 的营业利润率,”全球公共投资基金论坛执行董事、中国投资公司前董事总经理马文森(Winston Ma)表示。

“投资者将对 Shein 重新定价,将其从一个纯粹的超高速增长科技平台转变为一个实体”

美国核心资本货物订单上升,发货量激增

卢西亚·穆蒂卡尼 (LUCIA MUTIKANI)

美国关键制造资本货物的新订单在 6 月强劲增长,而发货量则创下 4½ 年来的最大增幅,这源于企业增加了在人工智能方面的支出,表明经济在第二季度保持了相当强劲的增长步伐。商务部周一发布的报告还显示,5 月的数据进行了上调。人工智能的建设正有助于减轻中东五个月战争以及特朗普政府持续的进口关税对经济造成的拖累,从而支撑起制造业。上个月所谓的核心资本货物订单和发货量的广泛增长,是由计算机和电子产品以及电气设备、家用电器和组件的强劲需求所驱动的。

“股票市场仍在与许多这些科技公司的估值作斗争,但有一件事是肯定的,那就是美国企业的资本支出(capex)使经济在其他领域因中东战争的不确定性和能源价格上涨而产生谨慎情绪的情况下依然保持活力,”FWDBONDS 首席经济学家克里斯托弗·鲁普基 (Christopher Rupkey) 表示。

商务部普查局表示,作为企业支出的密切观察指标,不含飞机的非国防资本货物订单上月增长 0.9 per cent,而 5 月的数据在上调后增长了 1.9 per cent。路透社调查的经济学家此前预测,在 5 月报称增长 1.4 per cent 之后,核心资本货物订单将增长 0.8 per cent。

6 月核心资本货物订单同比增长 9.3 per cent。计算机和电子产品订单在 5 月反弹 1.2 per cent 后,激增 3.1 per cent。电气设备、家用电器和组件订单在 5 月增长 0.2 per cent 后,上升 0.9 per cent。初级金属订单增长 1.1 per cent,但金属制品订单下降 0.5 per cent。机械订单下降 0.1 per cent。

核心资本货物的发货量(计入国内生产总值报告中企业设备支出组成部分的数值)在 5 月增长 0.2 per cent 后,上月激增 1.9 per cent。这是自 2021, 12 月以来发货量的最大增幅,主要由计算机和电子产品以及机械驱动。电气设备、家用电器和组件以及初级金属的发货量也有显著增长。非国防资本货物订单增长 1.2 per cent,此类货物的发货量增长 1.5 per cent。

由于美国与伊朗之间敌对行动的暂停推低了油价,华尔街股市走高。美元兑一篮子货币保持稳定。美国国债收益率大多下跌。

政府计划于周四公布第二季度 GDP 增长的初步预估值。路透社对经济学家的调查估计,上季度经济以 2.1 per cent 的年化率增长,这将与第一季度的速度相匹配,并符合美联储关于经济韧性的叙述。预计美国央行将在周三将其基准隔夜利率维持在 3.5 per cent 至 3.75 per cent 范围内,不过少数经济学家认为不能排除借贷成本增加的可能性。

其他经济学家则认为,由人工智能驱动的设备支出强劲增长对美联储来说是一把双刃剑。

“一方面,强劲的资本支出支持了经济活动和生产率,”BMO 资本市场高级经济学家普里西拉·蒂亚加穆尔蒂 (Priscilla Thiagamoorthy) 表示,“另一方面,美联储官员最近注意到”

“AI 相关投资的持续繁荣可能会维持通胀压力。”经济学家预计,企业在设备上的支出将迎来另一个两位数的增长季度。牛津经济研究院(Oxford Economics)首席美国经济学家 Bernard Yaros 表示:“这种强劲势头并不局限于 AI 资本支出的繁荣,还反映了公司在车辆支出方面的反弹。”耐用品(从烤面包机到飞机的各种预期使用寿命在三年或三年以上的物品)订单在 5 月份下降 4% 之后,上月反弹了 0.3%。

汤森路透 (REUTERS)

一名顾客于 5 月离开多伦多的一家 Shein 弹出式商店。文件显示,这家热门的中国快时尚品牌在今年第一季度亏损 9900 万美元。LAURA PROCTOR/THE GLOBE AND MAIL

作为一名在高度摩擦的全球贸易中航行的零售和物流参与者。” 利润率的收窄增加了人们的担忧,即 Shein 的快速崛起正面临贸易成本上升、监管审查增加以及全球电子商务竞争激烈的不利因素。 该公司表示,取消美国的微量豁免(de minimis exemption)损害了销售增长并增加了费用,目前公司正“寻求多种选择,包括提高在美国的售价”,以抵消部分增加的成本。 欧洲针对低价值进口商品征收的新费用构成了另一项挑战——Shein 表示,欧盟的趋势可能与在美国观察到的影响“大致一致或甚至超过”。Shein 在欧洲面临的挑战可能会降低市场低端领域的竞争强度,这对 Associated 旗下的时尚零售商 Primark 而言可能是积极的。

微软推出 AI 网络安全工具

CADE METZ KAREN WEISE 旧金山

上周,OpenAI 透露其两项人工智能技术失控并入侵了一个流行的互联网库,这在硅谷引起了剧烈震动。

此次事件展示了新 AI 系统不可预测的力量,以及能够用于抵御 AI 攻击的技术日益增长的重要性。

周一,微软公司(Microsoft Corp.)发布了旨在帮助企业保护其计算机网络的系统,进一步扩大了 AI 安全工具的种类。

微软是众多竞相采取行动的公司之一,这些公司试图将那些被用于实施攻击的先进系统转化为防止入侵的力量。他们希望利用人们日益增长的担忧来获利——即 AI 对计算机基础设施构成了严重威胁,而安全专家才刚刚开始应对这一问题。

微软高管是技术领域众多主张强大网络安全系统应更广泛分布的声音之一,以便更多组织能够更好地进行自我防御。

这种观点与一些技术高管及华盛顿官员日益增长的担忧相反,后者认为新的 AI 系统需要受到仔细监控或远离公众,因为它们可以成为极其高效的黑客工具。

“猫已经出笼了,”微软负责监督公司安全工作的执行副总裁 Hayete Gallot 表示。

该公司表示,微软的新 AI 模型 MAI-Cyber-1-Flash 是专门为网络安全而训练的。该系统部分通过分析微软在应对客户遭遇的黑客事件时收集的数十年数据来学习技能。

负责监督微软 AI 模型开发的 Mustafa Suleyman 表示,微软拥有获取安全数据的独特渠道,因为其产品(如 Windows 操作系统、Outlook 电子邮件和 Azure 云计算)被广泛使用,且经常成为网络攻击的目标。

与其他领先的 AI 公司不同,微软在发布该技术之前没有将新模型提供给独立测试人员进行评估。但该公司表示,预计集成在其安全工具中的该模型在周一发布后,将在名为 CyberGYM 的标准基准测试排行榜中名列前茅,超越 OpenAI 和 Anthropic 的产品。

许多此类模型正在变得更加强大。 让我担忧的不是当下的某个模型, 而是这种能力在变得更加普及。

DAVID WESTON 微软公司副总裁


亚马逊计划发射 5,000 多颗卫星提供移动服务

亚马逊(Amazon.com Inc.)的 Leo 项目周一提出,计划部署多达 5,105 颗卫星组成的星座,以提供直接面向设备的语音和数据连接,加入卫星运营商将蜂窝服务直接传输到智能手机的激烈竞争。

拟议的网络将在地面蜂窝网络无法覆盖的地区提供语音、短信、数据和紧急服务,卫星部署将于 2028 年开始。

British Foods,以及 H&M,花旗银行(Citi)在的一份简报中表示。 招股说明书显示,Shein 的估值从 2022 年一轮融资后的 $98.2-billion 下降到 2024 年另一轮融资后的 $64-billion。 “我认为,与最后一轮私人融资相比,Shein 在香港 IPO 或二级市场不太可能实现估值的实质性提升,”总部位于北京的精品投资公司主管 Shen Meng 表示。

微软表示,使用该新系统的价格大约只有其他领先技术的一半,而后者价格更高,部分原因是它们被开发用于执行多种任务,而不仅仅是网络安全工作。该公司表示,该系统能有效地处理 90 %的查询,这意味着只有 10 %的时间需要使用更昂贵的模型。苏莱曼先生(Mr. Suleyman)表示,微软专注于降低成本,以便该模型能够更快速、更广泛地部署。

MAI-Cyber-1-Flash 将接入另一项微软新工具——感知项目(Project Perception)。它将各种 AI 模型转化为“代理”团队,旨在发现并修复网络漏洞。AI 代理是数字助手,能够使用其他软件在很大程度上独立执行各种任务。在某些情况下,微软的代理将能够模仿黑客。

AI 安全威胁在过去一年左右的时间里逐渐显现,因为 AI 公司构建了特别擅长编写计算机代码的系统。例如,Anthropic 在 4 月份推出了一套 AI 系统,该公司表示已利用该技术发现了数千个在流行软件系统中多年未被察觉的安全漏洞。Anthropic 认为该 AI 系统对于广泛发布而言过于危险,因此将这一极其昂贵的技术仅限制在少数组织中使用,以便它们能利用该技术防御互联网的关键基础设施。不久之后,OpenAI 和谷歌也表示,它们同样仅与一组合作伙伴分享类似技术。白宫也开始探讨对这类技术的政府监管。可能的计划中包括对新 AI 模型建立正式的政府审查流程。该领域及其准则正在迅速演变。在 7 月 16, 日的一次采访中,微软公司副总裁大卫·韦斯顿(David Weston)表示,这“非常重要”。

该公司已向联邦通信委员会(Federal Communications Commission)提交申请,寻求快速批准该计划。 联邦通信委员会(FCC)未立即发表评论。 该服务将与全球移动网络运营商合作,并使用 Globalstar Inc. 的移动卫星频谱,亚马逊(Amazon)已同意在今年早些时候收购该公司。 Globalstar 为数百万人提供设备到设备的连接。

精品投资银行 Chanson & Co.。 “如果他们能在几年前在伦敦或纽约进行 IPO,情况会乐观得多。现在市场对他们来说已经困难得多了,”电子商务行业分析师 Juozas Kaziukenas 说道。 “对于增长下降的问题,目前还没有拟议的解决方案,”Kaziukenas 先生表示。 由于美国销售额自 2025 年起萎缩,且欧洲增长因关税变化而放缓,Kaziukenas 先生表示,这两个市场——合计占 Shein 全球总额 50 %以上——的收入在短期内可能会保持停滞。 “Shein 的短期未来将发生在‘世界其他地区’国家,而不是欧洲或美国,”他说道。 甚至在提交申请之前,一些投资者就在质疑目标估值是否为这些风险留有足够的空间。 研究公司 GlobalData Retail 的董事总经理尼尔·桑德斯(Neil Saunders)表示,Shein 可能会尝试将业务从超低成本时尚扩展到新产品,但不太可能重现早期的爆发式增长。 此次上市仍应能吸引投资者兴趣。 “但它不再像几年前那样是时尚界的绝对之星。因此,其估值将远低于 2020 年代初高峰时期的水平,”他说道。

“为了确保每个人都拥有这种能力。”但当该产品于周一公布时,公司将初步发布范围限制在使用了第三款微软安全工具——MDASH的企业和个人,该工具旨在发现并修补软件中的安全漏洞。随着各公司试图控制其最新模型的用途,专家们指出,其他技术可能会助长针对计算机网络的恶意攻击。上个月,多伦多大学的研究人员表示,他们发现了一种利用可免费获取的 AI 技术来创建危险计算机“蠕虫”的方法,该蠕虫能够针对全球计算机中任何已知的缺陷。

“许多此类模型正在变得更好,”韦斯顿先生说。“我担心的不是当前的流行模型,而是这种能力在变得更加普及。”在随后的几周里,两家中国初创公司发布的技术几乎与 Anthropic 和 OpenAI 的领先系统一样强大。

纽约时报新闻服务 (NEW YORK TIMES NEWS SERVICE)

通过实现紧急消息传递、位置共享和道路救援,让苹果公司 (Apple Inc.) 的设备用户在超出地面网络覆盖范围时仍能使用。此举将扩展亚马逊 (Amazon) 在宽带互联网之外的卫星野心,并将加剧与 SpaceX、AST SpaceMobile 和 Lynk Global 在直接面向设备市场的竞争,这些公司也在开发卫星直连手机服务。

路透社 (REUTERS)

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本月早些时候,在上海举行的一次会议期间,人们参观 Moonshot AI 的展台,该展台展示了 Kimi K3 模型。在该模型发布后的两天内,该公司宣布需要停止接收新用户,因为无法获得足够的计算机芯片来提供服务。HECTOR RETAMAL/AFP VIA GETTY IMAGES

中国的 AI 巨头们不确定 如何从这项技术中获利

各大公司已尝试 各种方法以筹集 足够的资金来构建大型系统

MEAGHAN TOBIN

中国的领先科技公司一直在稳步发布人工智能模型,这些模型的性能几乎与世界上最好的系统相当。但它们都面临同一个问题:如何克服这项技术背后极其严苛的经济账。中国的 AI 公司尝试了不同的方法,以筹集足够的资金来支撑构建 AI 系统的巨额开支。像 DeepSeek 和 Moonshot 这样的初创公司已从投资者那里筹集了数十亿美元。中国的 AI 重量级企业阿里巴巴已开始向用户收取访问其最佳模型的费用。TikTok 的母公司且本身也是 AI 强国的字节跳动推出了分级定价系统,希望引导用户为使用其最先进的模型支付更多费用。为了构建顶尖的 AI 模型,AI 公司需要不断购买强大的计算机芯片——足够的芯片用于构建模型,更多用于测试改进,以及更多的芯片以确保它们能为全球用户提供服务。这些公司还需要建设或租赁数据中心空间,以容纳所有这些计算能力。面临这些艰巨经济挑战的不仅仅是中国 AI 公司。它们在硅谷的巨头竞争对手,从 OpenAI 和 Anthropic 到 Google,在 AI 领域的投入也远高于其收益。对于中国公司而言,挑战因该国 AI 发展方式的一个核心悖论而变得更加复杂。中国大多数领先的 AI 系统都是开源或开放权重的。这加速了它们的发展——当每家公司在公开场合分享其成果时,整个行业都能获益。中国的开源方式催生了一个拥挤的领域,其中充满了创新且竞争激烈的初创公司,它们都以低成本提供系统。因此,试图通过提高某些模型的访问费用来增加收入的行为可能会吓跑

LVMH 销售额增长,美国奢侈品购物者帮助抵消伊朗战争带来的影响

多米尼克·帕顿(DOMINIQUE PATTON)巴黎报道

随着美国富裕购物者的强劲需求帮助抵消了欧洲消费能力的下降(当地旅游业受到伊朗战争的影响),奢侈品巨头 LVMH 第二季度的销售额略有上升。

这家 Louis Vuitton、Dior 和酩悦香槟(Moet & Chandon)所有者的销售额在经过汇率调整后增长了 3%,达到 195 亿欧元(€19.5-billion,即 313 亿美元 $31.3-billion)。根据 Visible Alpha 的数据,这一结果与分析师的共识预期基本一致。

LVMH 表示,增长主要由美国驱动,其销售额在第一季度增长 3% 之后,第二季度又增长了 6%。公司将此归功于 AI 和技术热潮等新创造的财富所激发的强劲需求。

腕表与珠宝部门是 LVMH 增长最快的业务,有机销售额增长 11%,高于上一季度的 7%。由于富裕购物者继续青睐珠宝而非轻奢品类,Tiffany 和 Bulgari 的增长率达到了 15% 左右(mid-teens)。

“你可以看到,尽管宏观环境持续不稳定,但所有地区的趋势在上半年(H1)均有所改善。在财富创造的地区,消费者对奢侈品,特别是对我们产品的需求依然强劲,”财务主管塞西尔·卡巴尼斯(Cécile Cabanis)在与分析师的电话会议上表示。与第一季度业绩公布后的低调相比,她的语气显得更加自信。

贡献 LVMH 大部分营业利润的时尚与皮革制品部门实现了 1% 的有机增长,这主要得益于美国客户。

价格敏感的中国消费者——无论是企业还是个人——都会迅速在不同平台之间跳转,以寻找廉价的 AI 工具。硅谷公司 Datastrato 的副总裁理查德·林(Richard Lin)表示,虽然中国的 AI 公司正在寻找可持续的商业模式,但目前支出高而收入低。他说:“在两三年后,我们可能仍在尝试弄清楚大模型如何赚钱。”

提供低价帮助中国公司获得了用户,包括在硅谷,许多公司依赖这些更实惠的系统。然而,中国公司在将庞大的全球用户量转化为利润方面一直很吃力。

上个月,中国初创公司 Z.ai 发布了一个名为 GLM-5.2 的模型,该公司称该模型的性能几乎与 Anthropic 最好的模型相当。硅谷的许多软件开发人员和初创公司迅速开始使用它,部分原因是它比美国系统更便宜。Z.ai 的模型不断改进并变得更加流行,该公司的收入在去年翻了一番多。

但 Z.ai 损失了近 7 亿美元(US$700-million)。在香港上市时,Z.ai 表示计划将大部分资金用于改进模型,主要是通过购买更多芯片。几周后,Z.ai 表示正在寻找合作伙伴共享计算资源,并在用户抱怨服务缓慢后道歉。

“开放模型是一种强大的分发策略,但它们不是一个完整的商业模式,”北京 Counterpoint Research 的首席 AI 分析师孙薇(Wei Sun)表示。“IPO 可以为下一个训练周期提供资金,但它本身无法创造可持续的经济效益。”

本月,Moonshot 发布了一个名为 Kimi K3 的模型,该公司称该模型在某些任务上的表现优于 OpenAI 和 Anthropic 的模型。但两天之内,该公司被迫宣布需要停止接收新用户,因为无法获得足够的计算机芯片来为他们提供服务。

中国的 AI 产业多年来一直面临美国的贸易限制,这限制了其购买能力。

世界上最强大的芯片。为了绕过这些限制,许多中国公司租用中国境外配备先进芯片的数据中心的远程访问权限。但与财力雄厚的美国竞争对手相比,中国的人工智能初创公司购买计算能力的资金少得多。上个月,DeepSeek 进行了中国最受期待的融资轮之一,从包括互联网巨头腾讯、电池制造商宁德时代(CATL)以及国家人工智能投资基金在内的投资者那里筹集资金。DeepSeek 筹集了 US$7.5-billion。5月,Moonshot 筹集了 US$2-billion。相比之下,Anthropic 仅在5月就筹集了 US$65-billion。

虽然中国科技公司资金少得多,但美国科技高管和投资者担心,中国的开源推进威胁到人工智能生产的经济模式。中国的 AI 初创公司表示,多年的出口管制迫使他们尽可能高效地使用芯片,这可能会挑战驱动全球 AI 投资的核心观点:即制造顶尖 AI 系统将始终需要对更多芯片和数据中心进行持续增加的投资。

现在,美国国内正进行一场激烈的辩论,这可能会让中国 AI 公司更难赚钱。包括 Anthropic 和 OpenAI 在内的硅谷领先公司声称,中国公司不正当地从其 AI 系统中获取数据,以加速中国模型的开发。一些美国科技公司和投资者希望华盛顿限制对中国开源模型的访问,称如果落在错误的人手中,这些模型可能会成为威胁。

“许多硅谷初创公司依赖开源权重模型来定制其产品,同时无需向 OpenAI 和 Anthropic 支付高昂的价格,”投资于 AI 技术的对冲基金 Interconnected Capital 的创始人 Kevin Xu 表示。这些美国科技公司一直是许多中国 AI 公司重要的收入来源。如果被切断,他们将面临失去这部分收入的风险。

NEW YORK TIMES NEWS SERVICE

消费者。这是该部门两年来首次季度增长,但低于分析师预期 1.7-per-cent 的增长。由亿万富翁 Bernard Arnault 领导的这家法国集团表示,伊朗战争使该部门的增长率降低了一个百分点,但补充说 Dior 在新创意总监 Jonathan Anderson 的带领下正获得动力,后者击败竞争对手 Chanel,获得了设计 Taylor Swift 婚纱的机会。

在欧洲,该季度销售额持平,在今年前三个月由于中东冲突影响旅游业而下降后趋于稳定。在一次罕见的公开评论中,Arnault 先生在周日否认了媒体关于其五个孩子之间激烈继承之争的报道,坚称他的家庭依然团结。

欧洲奢侈品牌已经

芯片制造商 CXMT

首秀暴涨 466% 跃居中国市场之首

YANTOULTRA NGUI 新加坡 SAMUEL SHEN 上海

在经历今年亚洲规模最大的 IPO 后,CXMT 公司的股票在周一的上海交易首秀中飙升 466%,尽管近期全球科技股出现抛售,但这家芯片制造商仍凭借估值跃升至中国股市之首。随着美国限制措施加剧了全球半导体竞赛的竞争,CXMT 已成为北京推动构建自给自足芯片产业以及缩小人工智能等战略技术差距的关键支柱。该股在触及日内高点 55.03 元 ($11.48) 后,最终收于 49 元 ($10.23),而其发行价为每股 8.66 元 ($1.81)。此次上涨将 CXMT 的市值推高至 3.3 万亿元 ($688.67-billion),较 IPO 过程中的 85.5 亿美元 ($120.7-billion) 大幅增长。

这次爆发式的首秀使 CXMT 加冕为中国市值最高的上市公司,超越了长期以来作为市场重量级的银行巨头中国工商银行。该芯片制造商首日的涨幅也令中国资源新能的发行表现相形见绌,后者在本月早些时候进行 $3.6-billion 的 IPO 后股价翻了一倍多。在本地市场应对由 AI 引发的抛售而产生的波动时,这次强劲的首秀提供了一个衡量标准,即投资者愿意为一家顶尖中国芯片公司支付多少费用。

据当地媒体报道,周一在上海交易的 CXMT 股票价值约为 141.1-billion 元 ($29.45-billion),成为首只单日成交额超过 100-billion 元的 A 股。由于基金经理重新配置 CXMT 股票,中国芯片制造股下跌 0.4%,而半导体公司上涨 0.8%。

“投资者的胃口在很大程度上是由为中国投资者提供一种能够实质性接触当前内存超级周期的方式所驱动的,”Morningstar 股票分析师 Jing Jie Yu 表示。Yu 先生表示,该交易的价格折扣很大,大约是 Morningstar 预计的 2027 年市净率的 1 倍,而全球同行则在 2.1 到 2.3 倍之间。但他认为该股首日的飙升过于剧烈,并指出内存行业的周期性,以及美国限制获取先进芯片制造技术的出口管制带来的长期拖累。

CXMT 的天文数字般上涨使其估值几乎达到美国竞争对手美光科技(Micron Technology)的一半,这也引发了对泡沫的担忧。其在中国日益增强的主导地位使其能够提高华为等科技客户的价格。

“ [CXMT] 的股票太贵了,有投机气息,”Trinity Synergy Investments 对冲基金经理 Yuan Yuwei 表示,并补充说“很难说这种乐观情绪是可持续的”。

包括芯片制造商在内的 AI 相关股票一直是今年全球股市上涨的前沿。但对估值过高以及巨额 AI 相关资本支出是否能足够快地产生盈利增长的担忧,最近抑制了投资者的热情。

在其他亚洲市场,以科技股为主的韩国 KOSPI 指数上涨近 1%,台湾股票下跌 0.5%,而 MSCI 亚太地区(除日本外)的 IT 指数下跌 4.7%。

在上市时,CXMT 扩股后的股份中仅有 6.73% 可自由交易,因为大多数股份被锁定。较小的初始流通量可能会放大价格波动并吸引强劲的成交额。

CXMT(原名为长鑫存储技术)在 IPO 中筹集了 57.92-billion 元 ($12.09-billion),这是有记录以来中国大陆规模最大的半导体发行。它超过了中芯国际(SMIC)在上海 $7.5-billion 的股票出售规模。

2020年,且如果全面行使超额配售选择权,IPO所得资金可能会增加到66.61亿元(139亿美元)。亚洲芯片制造商以及建设数据中心及相关基础设施的公司,正 Riding(乘着)由科技巨头带来的数千亿美元支出浪潮。本周所谓“超大规模云服务商”的收益情况,可能会为短期内围绕 AI 交易的情绪奠定基调。

CXMT 已成为北京推动建立自给自足的芯片产业并缩小 AI 等战略技术差距的关键支柱。PEDRO PARDO/AFP VIA GETTY IMAGES

汤森路透

加强了对美国的关注,开设门店并举办时尚活动,以挖掘近乎创纪录的高股价所产生的财富。 然而, LVMH 相对温和的销售增长是否足以让投资者放心,认为 4000 亿美元的奢侈品行业正果断地走出两年的低谷,目前仍存疑问。 “我们想知道这是否足以支撑股价,并让投资者起身关注,”伯恩斯坦(Bernstein)分析师在给投资者的初步反应报告中表示。 LVMH 的美股在当地时间下午 5 点下跌 1.6%,此前曾短暂跌至去年 6 月以来的最低点。 这家法国集团的股价今年以来已下跌 28%,使 LVMH 成为欧洲表现最差的大盘股之一。 “总的来说,我们认为这是一份令人安心的财报,特别是利润率和收益好于预期,”RBC 分析师在的一份简报中表示。 “然而,考虑到比较基数日益严苛,人们可能会质疑 [下半年] 的共识预期是否可以实现。” 上半年,LVMH 的有机销售额增长 2%,但按报告基准计算下降 3%,至 386 亿欧元(620 亿美元)。同期,当前业务利润下降 4% 至 87 亿欧元(约 140 亿美元),因为汇率波动导致收益减少了约 7 亿欧元(11.2 亿美元),不过营业利润率基本稳定在 22.5%。

Page 20

O

观点

观点

观点与分析

扭转加拿大的住房与经济低迷需要付出多少代价?

竞争力、 生产力和 投资在接下来的 10 年里 都需要显著提升

CHARLES ST-ARNAUD

Servus Credit Union 首席经济学家

加拿大面临着两项世代挑战:住房可负担性危机,以及相对于经济合作与发展组织(OECD)中同行较低的竞争力/生产力。由于这些问题被任由恶化,要同时解决这两者将需要规模惊人的投资,从而引发了关键问题:资金将从哪里来,以及更广泛的经济后果将是什么。

在低利率、供应不足和强劲的人口增长驱动下,房价上涨速度超过收入,这种情况已持续十多年,导致加拿大大部分地区的住房变得难以负担。增加新供应是解决方案,而加拿大

安大略省加入“通行证”

证券监管体系 过于微小且不足

JONATHAN PREECE

加拿大金融市场论坛 (Canadian Forum for Financial Markets) 高级政策顾问

安大略省近期承诺加入加拿大证券管理局(Canadian Securities Administrators)的“通行证”(passport)系统,此举被赞誉为移除省际贸易壁垒、发展“单一加拿大经济”的一步。不要被这些喧闹的赞美所迷惑。通行证系统的设计目的是通过允许市场参与者仅与单一的主管监管机构而非全部 13 个省和地区的监管机构互动,从而为他们提供进入加拿大资本市场的窗口。通过该系统,每个市场参与者的主管监管机构负责审查并批准指定的备案文件,一旦获得批准,主管监管机构的决定将被参与的省和地区相互认可。该系统的开发是为了应对 2000 年代初期发布的一系列专家报告和建议,这些报告强调了加拿大监管体系中的诸多低效之处,并再次呼吁创建国家证券监管机构。In 2003, 省级部长们召集会议,讨论由各省和地区主导证券改革的可能性。这在一定程度上是由于一些省级监管机构希望遏制当时为建立国家监管机构而积聚的势头。这随后引发了一次公众咨询,并制定了一项行动计划,旨在确定影响加拿大监管体系最紧迫的问题。被确定的问题集中在发行人和其他注册人在向 13 个不同的证券监管机构提交文件并获得批准时所面临的成本、延迟和复杂性。通行证系统被提议作为解决方案。到 2005, 该系统推出时,除安大略省外,每个省和地区都同意参与,而安大略省出于支持建立国家监管机构的象征性姿态而未签署协议。尽管如此,安大勒省近期决定加入通行证系统的实际影响被夸大了。这是因为,尽管安大略省刻意拖延,但安大略省证券委员会和

抵押贷款与住房公司 (Mortgage and Housing Corp.) 估计,在接下来的 10 年里需要 4.8 million 套新住房才能实现这一目标,而议会预算办公室一个较为保守的估计认为,仅为了避免进一步恶化,该数字就在 3.8 million 套。假设每套房的成本相对较低,在 $500,000 和 $750,000 之间(包括建筑管理费、开发费、配套基础设施等),建设 4.8 套住房将花费 $2.4-trillion 到 $3.6-trillion。扣除无论如何都会建设的房屋单位,所需的额外投资将是 $1.2-trillion 到 $1.7-trillion。仅仅填补住房缺口仍需要该金额约三分之一的资金。作为参考,2025, 新建筑的住宅投资总额约为 $115-billion,这意味着要恢复负担能力,需要在十年内将投资速度提高一倍以上。加拿大糟糕的竞争力和生产力记录源于数十年对机械、设备和知识产权的投资不足,导致每名工人的资本存量比经合组织 (OECD) 最具生产力的 10 个国家的中位数低 40 per cent plus。

其他 CSA 成员已经开发了一种“界面”,该界面模拟了护照系统的优势。在这种界面下,每个省和地区都同意接受 OSC 对护照备案的决定。此外,尽管 OSC 保留了进行自行审查的决定权,但在实践中,它通常依赖于护照系统中其他监管机构进行的审查。因此,安大略省加入护照系统的决定在很大程度上是仪式性的,对于减少贸易壁垒的影响有限。诚然,护照系统确实有其益处。它简化了注册、获得豁免和提交招股说明书的流程,并促进了省证券法在应用上的一定统一。但它并不能解决针对加拿大监管体系所提出的所有合理批评。例如,护照系统无法改善 CSA 缓慢且繁琐的政策制定流程,也无法解决多司法管辖区执法中监管机构之间协调时出现的困难。此外,该系统未能解决在 13 个省和地区分别维持一个监管机构,以及维持作为全加拿大自律组织的加拿大投资监管组织(Canadian Investment Regulatory Organization)所产生的成本。所有这些监管机构在财务上都依赖于市场参与者的费用,尽管护照系统带来了好处,但省/地区监管机构继续向市场参与者收取重复的注册费和参与费。这意味着在全加拿大发行证券的发行人必须支付多项备案费,而全加拿大经营的交易商即使在护照系统下仅由一名“首席监管员”负责审查这些备案,也必须支付多项注册费。与市场参与者为了遵守并响应多个机构的查询而产生的合规成本相比,这些费用往往显得微不足道。这种固定成本的碎片化和重复降低了加拿大资本市场的吸引力。安大略省加入护照系统的形式主义决定,对于改变这一现实几乎没有起到任何作用。要消除省际贸易壁垒并发展“统一的加拿大经济”,还需要采取更多的措施。

澳大利亚。自 2015 年石油危机以来,这一差距扩大速度更快,加拿大的人均资本增长率每年比同行平均水平低一个完整百分点。更高的人均资本存量与更高的生产力以及更高的人均国内生产总值强相关。

在接下来的 10 年中要填补这一差距的一半,将需要人均资本存量每年增长 3.2% 至 3.5%,而自 2000 年以来的平均增长率为 1.1%。这相当于在未来 10 年内投资 4 万亿美元到 4.5 万亿美元,或者在预期投资基础上增加 2.9 万亿美元到 3.7 万亿美元。这些是净值,未计入抵消折旧所需的投资。即便只是为了防止加拿大竞争力进一步恶化而所需的最低限度投资,也需要增加 1 万亿美元到 1.8 万亿美元。

综合来看,投资需求惊人:未来 10 年需要 6.4 万亿美元到 8.1 万亿美元的投资,或者在维持现状的基础上增加 4.1 万亿美元到 5.4 万亿美元。为了提供一个参考视角,加拿大的名义 GDP 约为 3.2 万亿美元,而投资

[[IMG_XXXX]] 美国总统唐纳德·特朗普周一在密歇根州米尔福德的通用汽车米尔福德试车场讲话前与观众打招呼。ANDREW HARNIK/GETTY IMAGES

凯勒:特朗普将戈迪·豪桥视为其索要好处的最新机会

来自 B1 版

“底特律敲诈案”就是最新的例子。 渥太华承担了戈迪·豪国际大桥全部 $6.4-billion 的账单,这具有合理的“马歇尔计划”逻辑。加拿大的建设成本可以通过通行费随着时间的推移逐步回收,而加拿大和美国都将从一座能够实现更多、更快且更便宜的跨境贸易的新桥中获得永久性的经济收益。这是一个多赢局面。 但特朗普先生偏好的安排并非如此。那是敲诈勒索中典型的赢家通吃。 不是创造财富——而是挪用财富。 不是“让我们共同繁荣”,而是“举起手来,这是抢劫”。 他将这座桥以及他阻止其开通的权力,视为他索要好处的最新机会。他让渥太华在原则上同意,在桥梁运行的前 15 年里,扣除费用后的所有净收入的一半将流入一个由特朗普政府控制的秘密资金池,而加拿大在此之后才能获得其全额的通行费收入份额。 由于这项协议内容简短、单薄,且叠加在特朗普先生拒绝履行密歇根州与加拿大之间原有的协议之上,目前尚不清楚加拿大到底放弃了很多、很少还是根本没有放弃任何东西。 因为这是一笔“唐纳德交易”,目前也不清楚这项为期 15 年的协议是否能维持 15 周。 我们已经从一个践行长期盟友关系的霸权的确定性和稳定性,转向了一个像缺乏耐心的骗子般的美国的波动性和不可预测性,它总是追逐新的保护费敲诈,或者寻找一次敲诈旧目标的全新机会。 总统对其他盟友也采取了类似但规模大得多的敲诈手段。去年,他向日本征收了 15% 的关税,并且

从一个践行 长期盟友关系的 霸权的确定性和 稳定性,我们已经 转向了一个像缺乏 耐心的骗子般的 美国的波动性和 不可预测性,它 总是追逐新的 保护费敲诈,或者 寻找一次敲诈旧 目标的全新机会。

GDP 的投资份额将需要从目前的 23% 增加约 20 个百分点。即便仅为了防止情况恶化而采取最低限度的措施,也需要 $1.5-trillion 至 $2.3-trillion 的额外投资,相当于 GDP 投资份额增加 7 个百分点。 这些数万亿美元将从哪里来,又将如何融资? 经济学的一个基本原则规定“储蓄等于投资”。换句话说,为了让某人进行投资,必须有人通过储蓄来提供资金。 公司和政府都可能继续作为净借款人,因为他们将是投资方,这使得非居民和家庭成为必须提供储蓄的两个部门。 家庭自 20 世纪 90 年代末以来一直是净借款人,并在随后的时间里在一定程度上导致了企业投资被挤出。他们需要转向净储蓄,考虑到持续的负担能力压力以及所需的紧缩措施,这可能是一个困难且不受欢迎的调整。 这就使得已经是重要净贷款人的外国投资者,成为了唯一能够量化衡量

威胁说,除非东京承诺在美国投资 $550-billion,否则情况会更糟。这些条款设想由日本承担所有的财务风险,而美国则获取大部分利润。

根据总部位于华盛顿的彼得森国际经济研究所(Peterson Institute for International Economics),在特朗普政府的第一年里,曾经的盟友们被施压,承诺在美国投资 $5-billion。

这就像是一个反向的马歇尔计划。

事实上,反向马歇尔计划正是斯大林强加给东欧的模式。美国向西欧发送援助;而斯大林则向他新征服的领土派遣火车,并将其视为贡品运走。

特朗普主义经济学不是凯恩斯经济学,也不是米尔顿·弗里德曼经济学。它是成吉思汗经济学。它是弗拉基米尔·普京经济学。它是财富榨取,而非财富创造。

至于作为其反向马歇尔计划竞标的一部分而向特朗普先生承诺的资金,只有极少部分兑现。到目前为止,日本几乎没有投资。韩国去年承诺了 $350-billion,此后一直拖延。

特朗普先生将协议视为用消失墨水写在生物可降解纸上的文字,他的交易对手也是如此。

第二次世界大战后的几年里,西欧国家自愿且热切地加入了北约以及华盛顿领导的全球贸易体系。相比之下,东欧的政府和人民则是被枪口指着,被迫进入华沙条约组织和苏联经济集团。

特朗普先生破坏了那些曾让加拿大人、欧洲人、日本人及其他人乐于让华盛顿领导所谓的“自由世界”的信任与善意。

这种信任可以重建,但必须以不同的形式重建。特朗普先生已经移除了基石。


能显著增加流向加拿大投资的储蓄。然而,进一步依赖外国投资者和所有权,会增加加拿大变成一个“榨取型”经济体的风险,在这种经济体中,利润被汇回国外而非重新投资于加拿大经济,从而限制了投资对经济其余部分的积极溢出效应,并可能赋予外国投资者对政策决策更大的影响力。

为了吸引所需的大量资金,可能需要更高的利率或回报,无论是为了激励国内储蓄还是为了吸引外资。然而,更高的利率可能会导致一些必要的投资变得不经济,从而产生一种自我限制的动态。遏制这种动态将需要刻意的政策来促进国内储蓄和投资。

加拿大目前的困境没有简单的出路。提高住房可负担性以及竞争力/生产力是可以实现的,但前提是必须进行该国数十年未曾动员过的大规模投资、储蓄和结构调整。如果未能达到这个规模,就意味着必须接受加拿大将继续进一步落后于其同行。

Page 22

布鲁克菲尔德承诺投入数十亿美元

在韩国建设数据中心

英伟达(Nvidia)首席执行官表示,基础设施 将“被用于推动韩国的 初创企业和工业发展”

旧金山

布鲁克菲尔德(Brookfield)资产管理有限公司计划投资高达$9-billion用于 AI 基础设施,这是与英伟达(Nvidia Corp.)合作扩大韩国数据中心计划的一部分。 作为协议的一部分,英伟达将投资

联邦储备委员会主席凯文·沃什(Kevin Warsh)本月抵达并出席众议院金融服务委员会听证会。在听证会被追问细节时,他表示一个月温和的通胀数据并不意味着“任务完成”。MARK SCHIEFELBEIN/AP

美联储:伊朗战争和人工智能热潮是

美国央行面临的最大未知变量

来自 B1

来自 B1

来自 B1

维持利率不变将使美联储的政策选项保持开放,同时给官员们更多时间来观察经济如何演变。许多人预计通胀将在今年下半年缓解。到美联储 9 月再次开会时,官员们将掌握额外两个月的数据。但这种不采取行动的行为将给沃什先生带来压力,要求他解释,不采取任何措施如何与其最近向立法者断言的央行对高通胀“零容忍”相兼容。沃什先生面临的最终决定取决于他希望在四年的主席任期初期采取激进立场,与在一个大部分通胀由供应冲击(而央行工具难以应对)驱动的环境中保持机动空间之间,如何取得平衡。例如,如果通胀是由劳动力市场过热驱动,而非由与伊朗的战争引起的能源价格飙升或特朗普先生的关税驱动,央行对其下一步行动将感到自信得多。在 7 月会议前的准备阶段,两名政策制定者表示加息具有紧迫性。达拉斯联邦储备银行行长洛里·K·洛根(Lorie K. Logan)和克利夫兰联储的贝丝·M·汉马克(Beth M. Hammack)都强调了高通胀给消费者和企业带来的压力,以及价格压力进一步扩大的可能性。与去年同期相比,服务业各领域的价格均有所上涨。洛根女士和汉马克女士主张,为了实现美联储 2% 的目标,提高借贷成本是必要的。两人均是今年政策制定委员会的投票成员。但包括几位美联储最高决策者在内的许多同事则暗示,

虽然他们准备在通胀……时采取行动

调查报告:不到 1% 的加拿大企业计划在美国建立业务

调查发现,企业信心已连续八个季度恶化,可追溯至 2024 年第三季度。 即便如此,极少有公司计划将其业务转移到美国。总体而言,不到 1% 的企业计划建立美国业务,而仅有 0.4% 的企业计划收购或与美国企业合作。 商会报告称:“关税似乎更多地是在推迟加拿大的投资,而非鼓励向美国迁移。” 由贸易战引起的不确定性已在出口行业产生反响,削弱了商业信心,并使经济在跨越 2025 年和 2026 年的六个月期间陷入轻微萎缩。 自那以后,经济已趋于稳定。国内生产总值在近几个月有所回升,表明加拿大第二季度的年化增长率将超过 2%。加拿大经济的这种回升可能会受到美国近期关税计划的考验。 调查发现,在不计划申请融资的企业中,62% 的企业能够

[[IMG_XXXX]]

向韩国互联网公司 Naver Corp. 投入 $1 亿,后者将出资剩余金额以资助该项目。 扩建的基础设施将利用英伟达(Nvidia)的 DSX 平台,在韩国世宗市的 Naver GAK Sejong 超大规模数据中心内建设。 在一份新闻稿中,布鲁克菲尔德(Brookfield)吹捧其人工智能基础设施投资平台处于行业领先地位,管理着约 $100 亿的资产,包括数据中心、半导体制造和专用发电设施。

情并未很快缓解,他们认为目前采取观望态度是合适的。这其中包括副主席 Philip N. Jefferson 和纽约联储主席 John C. Williams。美联储理事 Christopher J. Waller 在决定美联储下一步行动时,重点关注最新的通胀数据。6 月份两份跟踪消费者价格和批发价格的报告显示,数据远低于预期。尽管如此,他明确表示,他需要看到几个月的温和数据才能对前景充满信心。这种内部观点的分歧无疑会引发 Warsh 先生长期以来鼓励的“家庭争吵”。但这同时也表明,如果他选择这样做,他将有空间将官员们引导向某个方向。Warsh 先生选择在公开场合模糊自己的立场,以避免限制美联储的行动空间。在本月国会听证会被追问细节时,他明确表示,一个月温和的通胀数据并不等同于“任务完成”。但在好几次情况下,Warsh 先生倾向于鸽派方向。当参议员 John Kennedy 问及他将如何应对通胀时,Warsh 先生从未提及加息的可能性。相反,他表示美联储的成功将取决于其重申央行降低通胀的承诺,为任何未能实现的失败承担责任,并研究其政策工具。当 Kennedy 先生询问美联储如何判定通胀是暂时性的还是持续性的时,Warsh 先生提到了他创建的 5 个工作组,他表示这些工作组将“面对重大且困难的问题,而不是试图用未经证明成功的政策来掩盖问题”。Warsh 先生还表示,他不认为一次性的价格变动——

特别是那些由投资激增引起的变动——

私募股权公司的全球AI基础设施负责人Sikander Rashid表示,此次合作伙伴关系将结合Brookfield的全球AI基础设施投资能力、Naver的AI和数据中心运营专业知识,以及Nvidia的加速计算平台,以提升该国的AI能力。

Nvidia创始人兼首席执行官黄仁勋(Jensen Huang)表示,三方正在“构建规模足以推动韩国初创企业和工业发展的主权AI基础设施”。

【加拿大新闻社】

人工智能——具有通胀性。“因为我认为存在供应响应,”他说道。然而,与此同时,他暗示美联储可能会对战争导致的价格上涨采取不同的看法,因为这“往往会减少经济的供应端”。伊朗战争和AI热潮是目前美联储最大的未知数。两者都推高了价格,但目前尚不清楚这是否会导致持续较高的通胀。高盛首席经济学家Jan Hatzius认为,关税等临时因素是近期基础通胀上涨的主要驱动力,并可能随时间而消褪。“我们的预测意味着,目前的鹰派言论最终并不需要采取行动,因为随着时间推移,通胀情况实际上看起来有所改善,”Hatzius先生说道。

然而,难以忽视的事实是,尽管在过去一年半中经历了一连串的冲击,经济依然保持得相对良好。对某些人而言,这意味着美联储需要提高利率以控制通胀。“鉴于我们在经济中看到的情况,我很难说目前的政策立场是限制性的,”直到2024年为止执掌克利夫兰美联储银行十年的Loretta Mester表示。她认为,提高利率将有助于“使需求与供应更好地匹配”,同时也有助于稳定那些看起来“比以往更脆弱”的通胀预期。“如果他们一直说我们要降低通胀却不采取行动来降低它,那么这种情况持续得越久,他们失去信誉的可能性就越大,”Mester女士补充道。她表示,最近的一组数据给美联储提供了一定的喘息空间,但这种缓解可能在9月会议前就已结束。

【纽约时报新闻服务】

自调查开展以来,美墨加协定(United States-Mexico-Canada Agreement)已于7月1日过了续签截止日期。该大陆贸易协定在接下来的十年中将进行年度审查,之后将失效。

现在在接下来的十年中将进行年度审查,之后将失效。上周宣布的50-per-cent关税将适用于约US$20-billion的加拿大进口商品,约等于2025年加拿大对美出口总额的5 per cent。

至关重要的是,这些新关税将不会豁免符合美墨加协定(USMCA)原产地规则阈值的商品,该规则规定了产品必须有多少比例原产于北美才能享受优惠关税待遇。

“当投资停滞时,生产力、工资和长期增长也会随之停滞,”Gill先生说道。

承担额外债务——高于该调查中56 per cent的五年平均值,这表明仅凭融资能力无法解释加拿大投资表现疲软的原因。

“如果没有更强的信心、更好的市场机会和新的投资激励措施,如今的韧性可能会演变为一个生产力增长缓慢、竞争力减弱以及长期繁荣程度降低的持久期,”Gill先生在报告中写道。

自调查开展以来,美墨加协定(United States-Mexico-Canada Agreement)已于7月1日过了续签截止日期。该大陆贸易协定将

布鲁克菲尔德 (Brookfield):

公司是 中东地区 最大的外国 投资者之一

来自海湾国家的投资领导者承认,这场危机干扰了一些正常业务,但他们也表示希望冲突将被证明是一个短暂的挫折。到目前为止,布鲁克菲尔德在增加其中东投资和扩大区域合作伙伴关系的计划上并未停下脚步。在该地区的募资和共同投资是一项五年计划的关键部分,该计划旨在将其私募股权投资组合的规模翻倍,目前管理规模为 $160-billion,而两年前为 $130-billion。布鲁克菲尔德是中东地区最大的外国投资者之一,在该地区管理着一个规模为 $16-billion 的私募股权、房地产和基础设施资产组合。该公司在全球管理超过 $1-trillion,于 2015 年在迪拜开设了办事处,近期又在利雅得增设了一个办事处。

布鲁克菲尔德公司 (Brookfield Corp.) 首席执行官布鲁斯·弗拉特 (Bruce Flatt) 在一份声明中表示,与公共投资基金 (PIF) 及其他锚定投资者共同筹集的资金反映了“全球对沙特阿拉伯及该地区私募股权机会的信心和强劲需求”。布鲁克菲尔德资产管理业务首席执行官康纳·泰斯基 (Connor Teskey) 在 2 月份伊朗战争开始后表示,冲突不会降低该公司在该地区开展业务的兴趣,他预计该地区从长期来看将在全球金融中发挥更大作用。PIF 副州长兼中东和北非投资负责人亚齐德·铝-胡迈德 (Yazeed Al-Humied) 在一份声明中表示,“我们与布鲁克菲尔德的合作伙伴关系旨在帮助将国际私募股权锚定在沙特阿拉伯及该地区”,并加速交易流转。

加拿大政府也一直在争取与沙特阿拉伯建立更深层的贸易和投资关系。总理

马克·卡尼 (Mark Carney) 于 7 月访问了该王国,并会见了王储兼首相穆罕默德·本·萨尔曼 (Mohammed bin Salman),修复了在之前自由党政府期间变得紧张的关系——此前在 2018 年记者贾迈尔·卡舒克 (Jamal Khashoggi) 被谋杀后,该政府切断了部分联系。周六,布鲁克菲尔德还宣布,它加入了一个由黑石集团 (Blackstone Inc.) 和 KKR 公司 (KKR & Co. Inc.) 组成的财团,购买一家合资企业的少数股权,该合资企业与科威特石油公司 (KOC) 合作,后者是国有科威特石油公司 (KPC) 的子公司。

科威特石油公司已与该投资者财团签署了一项 $16-billion 的租赁并回租协议。该合同涵盖了该公司所有的 13 条管道,投资者将根据管道流量赚取费用,而 KOC 拥有并控制该网络。该交易为 KOC 带来的预付款将为 $7.85-billion,使该交易成为科威特历史上规模最大的外国直接投资。布鲁克菲尔德在财团投资中的份额未被披露。KPC 副主席兼首席执行官谢赫·纳瓦夫·萨乌德·萨巴 (Shaikh Nawaf Saud Al-Sabah) 在一份声明中表示,这项交易“反映了对科威特韧性的信心、KPC 资产的质量以及我们对该国能源行业的长期愿景”。

第 23 页

Cabot Revelstoke 正在将这座不列颠哥伦比亚省的山城打造成为一个由高尔夫、滑雪、款待业和豪华地产支撑的高端四季目的地。照片由 CABOT 提供

度假村旨在将不列颠哥伦比亚省的滑雪小镇转变为全年候豪华目的地

F

高尔夫、款待业和住宅地产将改变以直升机滑雪和积雪闻名的 Revelstoke

DAVID McPHERSON

从 1880 年代横贯大陆铁路线上的一处前哨,到如今的世界直升机滑雪之都,不列颠哥伦比亚省的 Revelstoke 已从一座沉寂的山城进化为一座粉雪天堂。

该市位于哥伦比亚河畔——处于不列颠哥伦比亚省东南部 Monashee 和 Selkirk 山脉之间——由于季节性工人的影响,人口在 8,000 和 16,000 之间波动,每年吸引超过 50,000 名游客。

得益于款待与娱乐公司 Northland Properties 与豪华开发商 Cabot 最近宣布的合作伙伴关系,前往 Revelstoke 的冒险寻求者和全球房地产投资者的数量预计将呈指数级增长。

这座城市正在演变为一个高端的四季山地目的地,其核心是 Cabot Revelstoke——这是一个 18 洞高尔夫球场和豪华山地酒店,包含餐厅和多种住宅产品,作为该开发项目社区总体规划的第一阶段。

“Cabot Revelstoke 代表了对 Revelstoke 的一项重大旅游投资,是我们目的地持续演进中的一个重要里程碑,”Revelstoke Mountain Resort 商业战略与款待业执行副总裁 Ryan Melnyk 表示。“它反映了对 Revelstoke 未来的坚定信心,并支持我们打造一个充满活力的全年候山地社区的长期愿景。”

从沉寂小镇到粉雪天堂

Revelstoke 曾被认为是一座沉寂的山城,直到 2007 年,由于 Northland Properties 的重大投资,游客开始大量涌入,该公司的品牌还包括 Chop Steakhouse & Bar、Denny’s Canada 和 Moxies。

这次投资促成了 Revelstoke Mountain Resort 的开业,其中包括增加了一台八人缆车、一个高速四人升降机并扩展了滑雪地形。

Revelstoke Mountain Resort 目前拥有 3,121 英亩的可滑雪面积和 75 条雪道。它以拥有北美最长的垂直落差(5,620 英尺)而闻名,被认为是加拿大最佳的直升机滑雪目的地之一,也是全球顶尖目的地之一。

Revelstoke Mountain Resort 还以其粉雪著称,年平均降雪量达 10.5 米。

CABOT 收藏系列

当 Ben Cowan-Dewar 12 岁时,他在多伦多以东父母的农场里搭建了他的第一个高尔夫球洞。

从那时起,这位加拿大企业家和高尔夫爱好者将那个童年梦想变成了一个不断增长的豪华高尔夫和房地产投资组合。

Cabot 起步于新斯科舍省的前煤矿小镇 Inverness,2012 年开业的 Cabot Links 高尔夫球场标志着其开端。在过去的二十年里,该品牌已发展成为一家成功的豪华住宅、度假村和高尔夫地产开发商及运营商,项目遍布佛罗里达州、苏格兰、法国和圣卢西亚。

对于 Cabot 的联合创始人兼 CEO Cowan-Dewar 先生来说,决定投资地点的起点和终点都在于为项目寻找合适的场地。随着公司高尔夫组合的扩大,他意识到房地产是一个自然的补充。

“就像商业中的许多事情一样,我们学习并倾听”

[[IMG_XXXX]] 顶部:Cabot Revelstoke 是这家豪华开发商在全球日益增长的高尔夫、度假村和住宅地产组合中的最新成员。

[[IMG_XXXX]] 上方:四星级的 Cabot Revelstoke Mountain Lodge 计划于 2027 年开业,届时将设有 155 间客房、一个水疗中心、健身中心、餐厅以及超过 6,700 平方英尺的会议和活动空间。

房产报告

“进入市场,且市场有购买房地产的需求,”Cowan-Dewar 先生说道。“这在我 2004 年开始在开普布雷顿(Cape Breton)创业时的原始商业计划中并不在内,但现在它已成为我们业务的重要组成部分,且起到了巨大的互补作用。”

作为一名热衷于高山滑雪的创业者,这位企业家最初在冬季访问了雷夫尔斯托克(Revelstoke),体验了那里纯净的积雪和无与伦比的垂直山坡。尽管在山中建造高尔夫球场极具挑战性,但 Cowan-Dewar 先生并未因此退缩。

“这其中有一点幸运之分,”他说道,并补充称十多年前一位朋友将他介绍给了 Gaglardi 家族。尽管他当时并未积极寻找另一个项目,但他同意前往视察该物业,并立即被其非凡的环境和自然美景所震撼。

“归根结底,吸引 Ben 前往雷夫尔斯托克的,是创造一座山地球场的机会,”Northland Properties 董事长兼首席执行官 Tom Gaglardi 补充道。

Cabot Revelstoke 由 Whitman, Axland & Cutten 的 Rod Whitman 设计,预计将于明年加拿大国庆日左右正式开放。设计师们利用自然景观,打造了一个 18 洞球场,展现了该地区独特的地理地形。

豪华旅馆

这座紧邻雪坡的四星级酒店被命名为 Cabot Revelstoke Mountain Lodge,目前正在建设中。该酒店将于 2027 年正式开业,届时将拥有 155 间客房、一个健身房、水疗中心、超过 6,700 平方英尺的会议和活动空间,以及一家计划于今年年底开业的 Chop 牛排馆和一个精品咖啡店。

该旅馆还将成为直升机滑雪旅游公司 Selkirk Tangiers Heli Skiing 的新总部。

“新旅馆及其会议与会议设施创造了吸引企业休养、会议、奖励旅游和商务活动的机会,而雷夫尔斯托克在历史上一直无法提供这些接待条件,”Melnyk 先生表示。“这些游客通常在传统的旅游淡季出行,有助于支持一个更平衡的、全年候的旅游经济。”

未来

Cabot-Revelstoke 山地度假村合伙关系的益处还延伸到了整个社区,旅游业的增长支持了当地企业,创造了就业机会并产生额外的经济活动。

除了在度假村和新的雷夫尔斯托克住宅项目上与 Cabot 合作外,Northland Properties 正在与当地及地区政府合作,探讨扩大雷夫尔斯托克机场以接纳商业航班的可能性。

“我们确实专注于尝试让当地机场更便捷,”Gaglardi 先生说。“理想的情况是将商业活动引入该机场。我们对此已有规划。在此期间,跑道已经拓宽,但仍需要延长。”

Cowan-Dewar 先生计划继续扩大 Cabot 系列。

“在 47 岁这个年纪,我无法在其他任何事情上找到工作,”他说。“如果我们能继续找到非凡的地点,而且当我看到惊人之物时依然感觉像个孩子,那就是我们的行动计划。”

《The Globe and Mail》特供

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股息

TECK RESOURCES LIMITED (“本公司”) 股息通知

特此通知,以下股息已宣布:

每股 0.125 美元的股息,适用于本公司的 A 类普通股及 B 类从属投票股,将于 2026 年 9 月 29 日支付给截至 2026 年 9 月 15 日营业结束时的登记股东。

第 24 页

T

GLOBE 投资者

在高通胀时代退休是什么样子

退休人员的 脆弱之处在于 缺乏在通胀之外 增加收入的机会

个人理财专家及前 《环球邮报》专栏作家

关于领取固定收入的贫困老人的陈词滥调早已被说烂了。 但在退休后,通胀确实会产生剧烈影响。让我以我自己为例——我是一个半退休人员,一年前离开了全职工作,但仍维持兼职状态。首先,我们的房产税今年上涨了 3.75 百分比,而我们的公寓管理费上涨了 1 百分比。 我们的 等额 月度 账单

这位医疗保健经理年入六位数,旨在为兄弟未来的护理提供保障

SAIRA PEESKER

薪资项目 (PAYCHEQUE PROJECT)

姓名,年龄:Russ,38 年收入:$157,920 基本工资 加上频繁的加班费, $15,600 来自租赁物业 债务:$106,000 信用额度贷款, $116,000 公寓贷款 储蓄:$45,000 储蓄账户, $160,000 免税储蓄账户 (TFSA), $285,000 注册退休储蓄计划 (RRSP), $40,000 首套房储蓄账户, $305,000 其他投资 职业:医疗保健经理 居住地:努纳武特 (Nunavut) 最担心的财务问题:确保存够钱来照顾患有脑瘫的兄弟。“我可能需要的金额是一个未知的黑匣子。”

Russ 在艾伯塔省农村的一个拖车房中长大,父母是没什么钱的新移民。但他的父母努力工作,为了给三个孩子提供良好的养育环境,包括定期出国旅行,以维持与家乡亲人和文化的联系。

他带着成为医生的梦想进入大学,但内部成功的压力和心理健康挑战让他负担沉重。

“不幸的是,大学对我来说并不是一段美好的经历,”Russ 说。“我花了六年时间。我曾考虑进入医学院,但没成功。”

相反,他在医疗保健领域选择了另一个方向,并前往努纳武特工作。他发现自己热爱北极的人民和风景。他很享受学习因纽特文化以及倾听长辈讲述的故事,而且那里还有一些来自加拿大各地及世界各地的职员搬迁至此工作。

“这里有许多来自西非国家的人,庞大的法语人口以及很多来自纽芬兰的人,”他在描述医院同事时将其形容为多元文化且协作性强的群体。

“我们彼此尊重,并理解我们所做工作的重要性——比如‘让我们改善这里的医疗保健’——这也是我职业生涯中最有成就感的部分。”

Russ 离校时背负了 $100,000 的债务,但在北方的医疗领域薪资丰厚。“我原本计划只呆几年,但它变成了一项事业,”目前担任 [此处文本中断]


债券投资者对美联储政策前景不确定,对冲美国利率冲击

纽约 —— 对美联储紧缩政策前景感到不确定的债券投资者,一直在支付更高费用以防御美国利率大幅上升的可能性。

美国金融市场正在苦苦思索:新任美联储主席凯文·沃什 (Kevin Warsh) 是否会让央行继续专注于遏制通货膨胀(这可能需要加息),还是会屈服于总统唐纳德 [此处文本中断]

[此处文本跳转至另一段落]

天然气费用上涨了 15 %,我们公寓的财产保险费上涨了 3.5 %。过去 12 个月,汽油成本平均上涨了近 30 %,这带来了沉重打击,因为我们在渥太华的家和多伦多之间频繁开车,去探望并照顾年迈的父母。虽然我们拥有一辆混合动力车,但依然如此。

我有一套应对通货膨胀的调整系统,稍后与大家分享,但首先让我们将退休人员的通货膨胀置于具体背景中。首先,加拿大养老金计划 (CPP) 的退休福利每年 1 月审查一次,以考虑生活成本的任何增加,而老年保障金 (OAS) 的款项则每年调整四次。

CPP 支出在 2026 年增加了 2 %,而加拿大银行的通胀计算器显示,2025 年价值 $100 的一篮子商品和服务在 2026 年将达到 $102.80。换句话说,增长了 2.8 %。

一些定额给付公司 [此处文本中断]


RUSS 的典型月度支出

投资与储蓄: $4,653

$803 用于工作养老金。 “联邦公共服务养老金。”

$100 进入储蓄账户 $583 进入 TFSA。“股票和交易所交易基金。”

$1,100 进入 RRSP。“萨斯喀彻温养老金计划、ETF 和股票。”

$667 进入 FHSA。“我没有将 FHSA 用于购买该公寓,因为那是给我兄弟租的。”

$400 进入注册残疾储蓄计划。“定期转账至我弟弟的 RDSP。”

$1,000 用于其他投资。“利用这些投资的收益来偿还信用额度。”

偿还债务:$2,210

$505 用于信用额度。“我借款投资于非注册投资项目。”

$1,705 用于抵押贷款。“我拥有一套公寓,我弟弟住在那里

特朗普一再要求降低利率。 利率期权市场的活动在近几个月发生了变化,对一种特定类型的掉期期权(swaption,即利率掉期期权)的需求在增长,如果长期借贷成本上升,这种期权将获利。 有些人正在对冲 10 年期掉期利率达到 6% 的风险,这比今天的 4.23% 水平高出 200 个基点。

许多养老金也提供年度生活成本调整,此外还有许多成熟投资者青睐的蓝筹公司支付的年度股息增长。例如:被广泛持有的公用事业公司 Fortis Inc. (FTS-T) 在去年年底将其股息提高了 4.1%,这意味着该公司已连续 52 年提高股息。 典型的加拿大退休人员有多种收入来源,其中几种会自动调整以帮助抵消更高的生活成本。退休人员的弱点在于缺乏在通货膨胀之外增加收入的机会。 工作中没有奖金可赚,没有晋升机会,也没有机会转移到其他薪水更高的地方。投资组合的一年行情良好,并不等同于银行账户中存款金额的增加,因为前者无法帮助支付账单。 即便如此,退休人员不能声称

生活。由于他在领取残疾补助,他不被允许积累资产。”

家庭与交通:$1,597

$1,122 为租金。“卫生部提供了一套公寓。费用直接从我的工资单中扣除。”

$68 为房屋保险。“我的公寓和我弟弟的公寓。”

$160 为公用事业费 $50 为汽油费。“我没有车,但使用朋友的。”

$50 为车辆维护费。“分担朋友车辆的维护费。”

$32 为手机费 $115 为网络费。“Starlink 卫星天线。”

饮食:$930

$800 用于杂货。 $100 用于餐厅。“这里选择不多。主要是当地店的披萨。我们非常喜欢在这里参加自带菜肴的聚餐(potlucks)。”

$30 用于酒精饮料。“我不常喝酒。在啤酒和葡萄酒商店买很贵。”

杂项:$7,975

$3,900 为工资扣除项

$482 为公寓管理费 $159 为公寓房产税 $7 为 CBC Gem $30 为应用程序。“音乐、健身追踪、有声书。”

$150 为服装费 $200 为隐形眼镜 $1,250 为度假费。“航空旅行很贵。”

$300 为捐款。“每月给几家慈善机构。”

为了实现这一点,美联储必须大幅提高联邦基金利率。利率掉期被广泛用于对冲利率风险,包括对美国国债的风险敞口。这些掉期允许投资者将固定利率支付与浮动利率支付进行交换,反之亦然。 分析师表示,市场已经远离了在

比有年幼孩子或饥饿青少年的父母更容易受到通货膨胀的打击。杂货是通货膨胀的锋利端,因为它们是不可避免的支出,只能通过优惠券、大宗采购和购物促销在有限程度上缓解。 我应对通货膨胀的系统是建立一个电子表格,将我们所有的家庭成本分解为月度金额。 该电子表格大约一年更新两次——在一月和夏天。 我还以严格的税后基准跟踪月收入。 从收入中减去支出后,我可以看出我们的支出情况。削减成本有助于使数字趋于一致,我们在一定程度上已经这样做了。我们外出就餐的次数比我退休前预想的要少,而且我们对顶级餐厅的兴趣大大降低。我们的旅行次数也比预期的少,这在很大程度上是由于家庭责任或其他原因。 在更微观的层面,我们

$300 用于礼品。 $1,150 用于人寿保险。 “向万能寿险支付额外费用以最大化现金价值。”

$30 用于长期失能保险

$17 用于信用卡手续费。 “美国运通 Cobalt 卡。积分有助于补贴我的假期。”

投资者通过出售波动率来收取溢价,并倾向于购买针对大幅利率变动的保护。这一转变不仅反映了对美联储进一步紧缩的担忧,还反映了更广泛的忧虑,即由于持续通货膨胀和庞大的政府借贷需求等因素驱动,长期收益率可能无论近期政策决定如何都会继续上升。 “市场已经变得

削减了我们的流媒体服务组合,以稍微降低家庭支出。一个更大的胜利是协商降低了我们的有线网络账单。 在观察到过去几年账单稳步增长之后,我几乎花了一整天的时间追踪我们的电信供应商以获得更好的费率。结果是,两年的月度成本降低了 30%,节省的资金足以支付每月上涨的天然气账单以及其他多项支出。 要想降低手机账单,请尝试在 11 月的黑色星期五促销期间货比三家。去年秋天,我将手机账单削减了近三分之二,尽管我不得不更换供应商,然后又换回原来的公司才得到了最优优惠。 对于退休人员来说,削减成本的一个复杂之处在于,这与退休作为一生辛勤工作后获得的大奖这一理念相矛盾。事实证明,退休人员必须像其他人一样做出同样的妥协。

ILLUSTRATION BY THE GLOBE AND MAIL

部门经理。“我已努力摆脱债务,并开始积累储蓄和投资。‘我的薪水是同专业平均水平的两倍多,’他说,‘我担心当我搬回 艾伯塔省 时,无法找到同等的工作。’” Russ 在 艾伯塔省 有一个 47 岁的哥哥,患有脑瘫,他预计最终将成为其主要护理者。他的父母现年 73 岁,在履行该职责时开始在某些体力任务上感到吃力。Russ 在 艾伯塔省 购买了一套公寓,以便给他的哥哥提供一个安全的住所,并且正在尽可能多地存钱,因为他不知道目前健康的哥哥何时可能需要昂贵的长期护理。 “我们正尝试积极地在他的注册残疾储蓄计划 (RDSP) 中存钱,”Russ 说。他今年将利用七周的假期在另一家北方医院工作以赚取额外收入。“私人机构每月可能需要 $2,000 到 4,000 之间。”

《环球邮报》特稿

部分细节可能为了保护受访者的隐私而有所修改。我们感谢他们分享自己的故事。

对加息更加坚信,你在期权市场中可以看到对此的体现,即支付方(payers)的需求高于接收方(receiv-ers),”纽约法国巴黎银行美国利率策略主管 Guneet Dhingra 表示。 周五的美国利率期货定价显示,本周会议加息的概率为 36%,高于一周前的 13%。 REUTERS

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对于 Corby Spirit and Wine 而言,市场份额的增长紧随并购成功之后

PHILIP MacKELLAR

观点

CONTRA GUYS

Contra the Heard 投资时事通讯 总经理

有时,市场需要很长时间才能认出一家企业的根本性变化。以 Corby Spirit and Wine Ltd. 为例,这是一家在多伦多证券交易所(TSX)上市的饮料公司,从事烈酒、葡萄酒和即饮鸡尾酒的制造、营销和进口。

在 Contra the Heard,我们首次买入 Corby 是在 2021 年,我们的平均买入价格是 $14.82。买入该公司至少部分是为了降低投资组合的波动性,提高收入产生能力,并在市场不确定中提供稳定性。自 2021 年以来,它提供了低 beta 值的稳定股息,但投资逻辑的另一部分——押注于更高的估值——尚未实现。

该公司低迷的估值表现,部分原因可能与 2023 年 6 月收购 Ace Beverage Group 有关。这次交易具有变革意义,从根本上改变了该组织的品牌组合,并为其增长奠定了基础。

然而,为了吞并 Ace Beverage,公司不得不增加杠杆,承受长达数年的整合过程并支付高价。在交易公布时,Corby 的市销率(price-to-sales ratio)为 2.4,企业价值/销售额比率(enterprise value/sales ratio)为 2.2。相比之下,Ace 的收购价格在市销率基础上为 2.6,在企业价值/销售额基础上为 2.8。

在并购大约一年后,我们在《环球邮报》(The Globe and Mail)上撰文探讨了此事。当时,该公司面临着投资者的严重质疑,而且这是有理由的。

一方面,该企业在所有产品线中都提高了市场份额

能够保护资本并产生股息的 TSX 消费股

BRIAN DONOVAN

数字分析师

CBV,StockCalc 总裁, 一家总部位于新不伦瑞克省 Miramichi 的加拿大金融科技公司。

我们的目标是什么?

在市场处于或接近历史高点之际,是否应该将部分获利股票转向更具防御性的名称,以保护资本并产生股息?让我们看看属于消费防御(也称为消费必需品)板块的股票,以及该组股票的估值和股息情况。

筛选过程

我们使用 StockCalc 的筛选器,选择了 TSX 上市值前 10 的消费防御股。然后,我们使用 StockCalc 的估值模型来计算每只股票的基本面(或内在)估值,以查看它们与当前价格相比是被低估还是高估。 所用技术概述:

现金流折现法(DCF 价值)是一种估值技术,通过现金流预测来计算

DCF 价值 ($)

股票观察 DAVID LEEDER

枫叶食品 (MFI-TSX) 收盘价 $28.83, 上涨 87¢ TMX 集团 (X-TSX) 收盘价 $51.35, 上涨 $1.42 多曼建筑材料集团 (DBM-TSX) 收盘价 $11.49, 下跌 11¢ OVINTIV (OVV-NYSE) 收盘价 US$60.08, 下跌 $3.05 5N PLUS (VNP-TSX) 收盘价 $34.52, 上涨 $1.02

随着 Canada Packers Inc. 的分拆现已完成,且主要的资本支出投资已在身后,CIBC 世界市场分析师 Ty Collin 将枫叶食品有限公司视为“一个拥有强大品牌的简化 CPG 业务,正处于增强现金生成能力的阶段”。 目标:Collin 先生称其为“估值重估的机会”,并将其评级设为“跑赢大盘”,目标价为 $36,比华尔街的共识低 $1。

业务部门,扩大了地理运营范围,并在合并一年后营收增长了 40% 以上。另一方面,每股收益持平,没有 EPS 增值,利润率有所下降,且债务持续处于高位。债务与 EBITDA 的比率高达 2.1 倍,令人不安,而一年后的预期为 1.8 倍。因此,许多估值指标处于十年低点,不包括 2020. 年初的疫情抛售。虽然我们理解市场为何持怀疑态度,但我们认为投资者过于悲观。此外,我们认为,如果 Corby 继续增长其顶线且底线扩张得以实现,它将显得非常便宜,这将推动股价上涨。快进到现在,收购 Ace Beverage Group 已获得回报。市场份额和销售增长持续,利润率开始改善,债务正在下降,但估值依然低廉。例如,在最近一个季度中,营收为 $58.3-million,同比增长 21.5%。在加拿大西部和安大略省即饮产品的推动下,国内箱装商品的销售额激增 35%,达到 $48.2-million。净利润几乎翻番,达到 $7.9-million,净利率从 8.4% 扩大到约 13.6%。股息略有提高,而派息率也有所下降。分红比一年前增长了 4.3%,自 Ace Beverage 合并公告以来增长了 14.3%。在过去一年中,派息率从 162% 下降到 86.2%。值得注意的是,部分季度销售强劲是时间点问题而非纯粹的需求问题。由于该机构的企业资源规划系统升级,LCBO 的发货被提前,实际上是从下一个季度借用了销量。

消费防御股的对比情况

股息 收益率 (%) Loblaw Cos. L-T 74420.5 64.35 64.81 0.7% 52.93 62.22 98.28 67.40 14.6 1.0 Dollarama Inc. DOL-T 49150.2 184.68 167.02 -9.6% 146.86 0.00 123.13 207.63 -1.8 0.3 George Weston Ltd. WN-T 38940.3 103.91 119.80 15.3% 185.95 119.80 133.50 108.00 16.8 1.3 Metro Inc. MRU-T 19320.8 92.53 89.35 -3.4% 146.08 92.31 75.93 99.80 -13.3 1.8 Saputo Inc. SAP-T 15960.1 39.95 39.23 -1.8% 65.55 24.77 35.97 47.63 38.0 1.9 Empire Co. EMP.A-T 11170.6 50.1 48.15 -3.9% 156.43 54.59 37.12 54.29 -10.8 1.8 Molson Coors Canada Inc. TPX.A-T 10910.0 63.10 64.68 2.5% 0.00 64.81 0.00 0.00 -17.0 4.4 Premium Brands Hldgs. PBH-T 4617.2 88.81 94.76 6.7% 136.86 91.66 99.40 122.92 -0.2 3.8 Maple Leaf Foods Inc. MFI-T 3490.4 27.96 28.66 2.5% 33.07 22.33 28.06 37.11 5.8 3.0 North West Co. NWC-T 2404.0 50.66 49.94 -1.4% 173.33 49.10 40.08 58.50 9.1 3.3

名称 股票代码

来源:Stockcalc.com

折现至当前时间 以计算每股价值;

价格可比公司(price comps) 技术 根据选定的可比公司的 比率 对公司进行估值;

调整后账面价值 (ABV) 是通过将每股账面价值 乘以其 10 年平均市账率来计算的。

如果我们有分析师的覆盖, 我们可能会在估值中 包含共识目标价。

更多关于 STOCKCALC 的信息

StockCalc 是一个基本面估值 平台, 拥有 工具 用于计算和报告北美主要股票交易所上市的 数千家上市公司的每股价值。Stock- Calc 还包含大量

国民银行金融分析师 Jaeme Gloyn 认为 TMX Group Ltd. 的经营业绩现在“超过了行业风险”, 这促使他将其评级从之前的“行业表现”上调至“跑赢大盘”。 “我们 对 TMX 的长期 增长 前景、 强大的战略执行记录(包括近期对 CBOE 和 RAFI 的收购)以及 防御性属性 持乐观态度,”他表示。 目标价:他的 $63 目标价(低于之前的 $65)低于共识价格 $68.86。

如下所述。业绩还受到市场份额持续增长的驱动,部分得益于加拿大货架上移除了美国制造的产品。在该季度中,Corby 在烈酒类别的销售额持平,而市场整体下降了 4.2 per cent。即饮品牌(ready-to-drink brands)的收入增长了 22.4 per cent,而该细分市场的整体增长率为 9.7 per cent,葡萄酒增长了 12 per cent,而整个行业下降了 0.4 per cent。这些增长不仅值得关注,而且在 5 月份最近的一次电话会议上,执行团队特别指出 Corby 已连续 14 个季度跑赢广义烈酒市场。Corby 的净债务与调整后 EBITDA 之比在本季度末为 1.4 倍,较去年同期的 1.6 倍有所改善,而在我们 2024 年最后一次撰写报告时记录的是 2.1 倍。然而,手头现金依然极少,部分原因是与母公司保乐力加(Pernod Ricard)的现金 管理池安排。管理层预测本季度表现将较为疲软,因为在 ERP 实施后,LCBO 的订货将恢复正常,且烈酒市场的潜在下降趋势依然存在。从长远来看,执行团队显得乐观。值得关注的主要风险是微小的现金头寸、与 LCBO 混乱相关的低迷的短期指引,以及如果(或当)未来与美国的贸易协议最终确定后,美国品牌带来的更多竞争。撇开风险不谈,持有 Corby 的理由依然充分,我们认为这是一个买入机会。Corby 成功整合了 Ace Beverage 并在收购后降低了杠杆。它能够很好地应对消费者向无酒精或低酒精选项转变的偏好,并同时提高市场份额、销售额和利润率。尽管有这些利好,股价表现平平 且估值较低。在我们等待市场认可其基本面改善的同时,我们将静候并收取 6-per-cent 的股息。

STOCKCALC 估值 ($) 差异 (%)

近期 收盘价 ($)

市值 ($ 百万)

工具,用以了解您投资的股票价值。Globe Unlimited 订阅者可以使用优惠码 Globe30 订阅 StockCalc,该代码提供 30 天免费试用以及第二个月的特惠价格。

我们的发现

必需消费品部门由包装食品、杂货店和饮料行业公司组成。该部门还包括折扣店以及家用和个人产品。名单上的公司都是我们非常熟悉的。在过去的 12 个月里,这组股票平均上涨了 4%,平均股息略高于 2%,总回报率略高于 6%。相比之下,在同一时期,更广泛的 TSX 指数上涨了近 30%。该部门的 Beta 值传统上在 0.6 和 0.8 之间。(Beta 衡量的是股票或部门的价格相对于整体市场的波动程度,整体市场的 Beta 值为 1.0)。Beta 值小于 1.0 意味着该股票(部门)的最高点较低,而最低点较高。名单上的所有股票均支付股息,分析师的目标价均高于当前价格,而我们的估值则高于或低于当前价格不一。让我们看看其中的几家公司。George Weston Ltd. 是一家控股公司,控制着零售商 Loblaw 以及房地产投资信托基金 Choice Properties 的多数股权。Loblaw 拥有最广泛的零售网络。

Raymond James 分析师 Daryl Swetlishoff 将 Doman Building Materials Group Ltd. 的评级从“强力买入”下调至“跑赢大盘”,理由是其低于共识的盈利预期,“且尽管宏观背景充满挑战,该股年初至今表现强劲”。目标价:他维持 $12 目标价,比华尔街平均水平低 32 美分。

一年回报率 (%)

分析师目标价 ($)

价格比较 ($) 高于 ($)

在“稳健”的第二季度业绩之后,RBC 全球能源研究负责人 Greg Pardy 认为,Ovintiv Inc. 的“精简投资组合、资源深度以及增强的股东回报,预示着相对倍数的扩张和股价的持续上涨”。目标价:由于看到“大幅”折价,Pardy 先生再次确认 Ovintiv 在“RBC 全球能源最佳创意名单”中的地位,并将其目标价从 $70 上调至 $85,评级为“跑赢大盘”。共识价为 $69.87。

在科技股的带动下,加拿大主要股指周一涨至历史新高,因为强劲的企业盈利季潜力抵消了近期的地缘政治不确定性。华尔街主要指数收盘涨跌互现。 S&P/TSX 综合指数上涨 199.04 点,或 0.6%,收于 35,568.14 点,突破了上周三创下的历史收盘最高纪录。 Celestica Inc.、Agnico Eagle Mines Ltd.、Magna International Inc. 和 Enbridge Inc. 是本周将公布业绩的主要加拿大公司。 科技板块上涨 6.9%,电子商务公司 Shopify Inc. 的股价上涨 11.6%。可选消费板块上涨 2.2%,权重较大的金融板块上涨 0.6%。 材料板块上涨 0.4%。金价上涨 0.7%,因为油价回落缓解了对通胀前景和美国利率可能提高的担忧。美国总统唐纳德·特朗普表示,美国正与伊朗进行“良好的对话”,有可能就冲突达成协议,但警告称,如果谈判未能取得成果,美国将恢复打击。 美国原油期货下跌 7.5%,结算价为每桶 $82.61,这拖累了能源股。TSX 能源板块收盘下跌 2.9%。 基准美国 10 年期国债收益率从周五晚间的 4.679% 下降 3.03 个基点至 4.649%。加拿大债券收益率同样走低。道琼斯工业平均指数是表现最好的美国主要股指。

汤森路透,Globe 员工

加拿大拥有 2,500 多家食品零售店和药店,品牌包括 Loblaws、NoFrills、Maxi 和 Shoppers Drug Mart。

Choice Properties REIT 在加拿大拥有并管理 700 多处商业和住宅物业。我们的模型以及分析师的共识显示,Weston 的当前价格具有上涨空间。鉴于我们对 Loblaw Cos. Ltd. 的整体估值接近当前价格,而对 Weston 的估值高于当前价格,两者的差异必定在于房地产持有的价值。

Premium Brands Holdings Corp. 拥有广泛的特种食品制造和食品分销业务,在加拿大和美国开展运营。我们的所有模型以及分析师的共识均显示 Premium Brands 被低估。他们将于 2026 年 8 月 6 日发布第二季度业绩。

您可以在随附的表格中看到每只股票的近期收盘价与其内在价值之间的百分比差异。“StockCalc Valuation”列是基于模型以及(如果使用了)分析师目标数据得出的加权计算结果。

投资涉及风险。StockCalc 对因使用本分析而产生的任何损失或损害不承担任何责任。

Ventum Financial 分析师 Daniel Lavoie 认为 5N Plus Inc. 正“从长期增长、地缘政治重新布局以及供应链稀缺的强力组合中获益”。他补充道:“该公司的地理足迹、采购能力、技术专长以及根据客户需求增加产能的能力,使其成为了首选供应商。”

目标价:Lavoie 先生启动覆盖,给出“买入”评级和 $44 目标价。共识价格为 $46.69。

第 26 页

市场

多伦多证券交易所 (TSX) 指数及子指数

指数名称 收盘价 净值变动 涨跌幅 (%) 成交量 (千股) 年初至今涨跌幅 (%)
TSX 综合指数 (TSX COMPOSITE IND) 35568.14 199.04 0.56 242321 12.16
TSX 60 指数 (TSX 60 INDEX) 2099.43 14.29 0.69 115970 12.87
TSX 完备指数 (TSX COMPLETION IN) 2273.19 1.46 0.06 126351 9.31
TSX 小盘股指数 (TSX SMALLCAP INDE) 1386.66 -3.24 -0.23 83760 15.89
TSX 创业板综合指数 (TSX VENTURE COMPO) 887.73 19.11 2.20 36966 -10.13
TSX 非必需消费品 (TSX CONSUMER DISC) 403.92 8.54 2.16 4667 5.57
TSX 必需消费品 (TSX CONSUMER STAP) 1322.62 15.00 1.15 4439 6.82
TSX 能源上限 (TSX ENERGY CAPPED) 417.93 -12.50 -2.90 50633 39.12
TSX 金融 (TSX FINANCIALS CA) 770.60 4.43 0.58 34354 22.80
TSX 医疗保健 (TSX HEALTH CARE C) 23.56 0.10 0.43 1957 7.58
TSX 工业 (TSX INDUSTRIALS C) 530.41 2.00 0.38 17368 13.58
TSX 信息技术 (TSX INFORMATION T) 301.83 19.35 6.85 12061 -7.58
TSX 材料上限 (TSX MATERIALS CAP) 725.08 3.06 0.42 61917 -3.28
TSX 房地产 (TSX REAL ESTATE C) 324.90 2.10 0.65 4249 2.69
TSX 全球黄金指数 (TSX GLOBAL GOLD I) 754.18 5.48 0.73 95696 -7.74
TSX 全球采矿 (TSX GLOBAL MINING) 218.48 1.66 0.77 269794 4.18
TSX 收益信托 (TSX INCOME TRUST) 252.48 -1.56 -0.61 4798 14.64
TSX 优先股 (TSX PREFERRED SHA) 719.80 0.09 0.01 516 3.38
TSX 通信 (TSX COMMUNICATION) 149.15 1.17 0.79 15712 -4.92
TSX 实用事业上限 (TSX UTILITIES CAP) 417.04 -4.88 -1.16 11981 18.38

美国

TSX 涨幅榜 股价在 $1 或以上的前 20 名股票

代码/名称 收盘价 净值变动 涨跌幅 (%) 成交量 年初至今涨跌幅 (%)
BSX BELO SUN MINI 1.15 0.23 25.00 1184 112.96
SHPU SAVVYLONG 2X 8.58 1.62 23.28 106 -51.47
OILD SAVVYSHORT G 2.52 0.37 17.21 110 -84.93
MSTU SAVVYLONG 2X 3.97 0.52 15.07 274 -76.26
HOD BETAPRO CRUDE 27.78 3.53 14.56 1183 -80.81
PLTU SAVVYLONG 2X 19.16 2.30 13.64 2 -19.43
TCL-B TRANSCONTIN 7.10 0.85 13.60 1 -69.79
CSUU SAVVYLONG 2X 9.02 1.02 12.75 28 -41.16
SHHI NINEPOINT SH 7.09 0.79 12.54 18 -33.49
SHPE HARVEST SHOP 8.39 0.90 12.02 95 -36.20
SHOP SHOPIFY INC 179.14 18.68 11.64 5309 -18.94
BNKR BUNKER HILL 4.85 0.50 11.49 63 -41.78
NVDD SAVVYSHORT - 12.95 1.15 9.75 16 -26.59
GURU GURU ORGANIC 3.76 0.32 9.30 8 -24.65
BU BURCON NUTRASC 1.85 0.15 8.82 5 13.50
TRI 汤森路透 (THOMSON REUTE) 137.93 10.89 8.57 1154 -23.85
HND BETAPRO NAT G 26.27 2.04 8.42 359 -30.23
MSTR STRATEGY CDR 6.78 0.52 8.31 123 -35.92
MSTE HARVEST STRA 1.96 0.15 8.29 1251 -54.42
PLTE HARVEST PALA 15.67 1.13 7.77 187 -38.81

S&P/TSX 综合指数股票 按市值排列的最大股票

代码/名称 收盘价 净值变动 涨跌幅 (%) 成交量 年初至今涨跌幅 (%)
VNP 5N PLUS INC. 34.52 1.02 3.04 603 94.81
ABRA ABRASILVER R 15.33 0.29 1.93 938 43.54
AAV ADVANTAGE ENE 11.05 -0.05 -0.45 1117 -5.88
ARE AECON GROUP I 50.29 -0.02 -0.04 365 60.77
AEM AGNICO EAGLE 206.18 1.37 0.67 797 -11.42
AC AIR CANADA 24.25 0.98 4.21 2299 25.71
AGI ALAMOS GOLD I 41.95 0.22 0.53 836 -20.85
AQN ALGONQUIN POW 8.51 -0.08 -0.93 2202 0.83
ATD ALIMENTATION 89.66 0.84 0.95 730 19.61
AAUC ALLIED GOLD 29.44 0.09 0.31 1022 -6.39
AP-UN ALLIED PROP 10.37 -0.08 -0.77 390 -22.44
ALA ALTAGAS LTD. 56.23 -0.95 -1.66 613 34.36
ALS ALTIUS MINERA 58.97 0.61 1.05 361 44.39
AIF ALTUS GROUP L 46.69 1.96 4.38 156 -17.67
USA AMERICAS GOLD 5.73 0.13 2.32 1024 -18.61
ARX ARC RESOURCES 32.07 -0.62 -1.90 3604 24.54
ARIS ARIS MINING 20.99 0.31 1.50 467 -5.71
ATZ ARITZIA INC 137.80 3.30 2.45 854 17.43
ACO-X ATCO LTD. C 78.60 -1.15 -1.44 142 39.41
ATH ATHABASCA OIL 10.64 -0.32 -2.92 4063 51.35
ATRL ATKINSREALIS 89.46 2.92 3.37 504 0.97
ATS ATS CORPORATI 37.45 0.19 0.51 334 -0.95
ASM AVINO SILVER 8.05 0.10 1.26 729 -5.74
AYA AYA GOLD AND 29.05 1.26 4.53 879 47.91
Dense Tabular Data (Omitted) BTO B2GOLD CORP. 5.45 0.01 0.18 2050 -11.81 BCE BCE INC. 30.06 -0.02 -0.07 2762 -8.19 BDGI BADGER INFRA 90.07 -8.30 -8.44 288 23.16 BMO BANK OF MONTR 252.12 1.35 0.54 1936 41.44 BNS BANK OF NOVA 122.67 -0.06 -0.05 4303 21.18 ABX BARRICK MININ 52.77 0.43 0.82 3532 -11.74 BHC BAUSCH HEALTH 6.34 0.09 1.44 357 -33.47 BTE BAYTEX ENERGY 5.86 -0.23 -3.78 4342 31.98 BIR BIRCHCLIFF EN 6.32 -0.18 -2.77 903 -15.39 BDT BIRD CONSTRUC 70.82 0.05 0.07 303 148.32 BB BLACKBERRY LIM 11.88 -0.16 -1.33 2862 129.34 BEI-UN BOARDWALK 64.85 -0.64 -0.98 94 0.57 BBD-B BOMBARDIER 373.41 7.17 1.96 297 59.92 BLX BORALEX INC. 37.03 0.02 0.05 283 46.19 BYD BOYD GROUP SE 152.25 9.27 6.48 68 -30.36 BAM BROOKFIELD AS 67.13 1.80 2.76 1598 -6.63 BBUC BROOKFIELD B 44.41 0.52 1.18 120 -9.46 BN BROOKFIELD COR 59.41 0.64 1.09 1920 -5.73 BIP-UN BROOKFIELD 57.15 -0.56 -0.97 246 19.79 BEP-UN BROOKFIELD 45.32 -1.39 -2.98 329 22.19 DOO BRP INC 87.05 1.85 2.17 670 -10.30 CAR-UN CDN APARTM 34.36 -0.66 -1.88 606 -6.81 CNQ CDN NATURAL R 63.26 -2.22 -3.39 5450 36.07 GIB-A CGI INC 98.09 4.50 4.81 728 -22.63 CRT-UN CT REAL ES 18.74 0.10 0.54 97 15.18 CAE CAE INC 36.45 0.94 2.65 1007 -12.67 CCO CAMECO CORP 126.05 2.18 1.76 986 0.29 CM CANADIAN IMPER 166.93 1.25 0.75 2656 34.16 CNR CANADIAN NATI 182.24 -0.67 -0.37 1370 34.25 CP CANADIAN PACIF 129.16 -1.16 -0.89 1280 27.82 CTC-A CANADIAN TI 201.91 3.05 1.53 270 16.08 CU CANADIAN UTILI 55.15 -0.70 -1.25 502 29.07 CPX CAPITAL POWER 70.51 -1.23 -1.71 749 20.43 CS CAPSTONE COPPE 13.13 0.18 1.39 3200 -4.72 CJT CARGOJET INC. 85.06 -0.41 -0.48 61 1.33 CCL-B CCL INDUSTR 91.65 0.95 1.05 382 5.71 CLS CELESTICA INC 449.49 19.42 4.52 518 10.71 ETFS STOCKS $1 OR MORE BANK EVOLVE CDN B 11.98 0.06 0.50 378 23.63 CNDD BETAPRO SP T 10.93 -0.16 -1.44 813 -23.67 DLR-U GLOBAL X US 10.11 -0.01 -0.10 1115 -0.30 DLR GLOBAL X US D 14.29 0.03 0.21 858 2.66 HHIS HARVEST DIVE 10.84 0.02 0.18 703 -11.44 HND BETAPRO NAT G 26.27 2.04 8.42 359 -30.23 HNU BETAPRO NAT G 7.98 -0.72 -8.28 3507 -51.04 HOD BETAPRO CRUDE 27.78 3.53 14.56 1183 -80.81 HOU BETAPRO CRUDE 19.02 -3.13 -14.13 2144 116.88 NVHE HARVEST NVID 12.54 -0.53 -4.06 456 0.40 QQD BETAPRO NASDA 25.99 0.18 0.70 557 -21.83 QQU BETAPRO NASDA 34.78 -0.22 -0.63 843 15.47 COMMODITIES TSX VOLUME TOP 20 FOR STOCKS $1 OR MORE T TELUS CORPORATI 14.69 0.29 2.01 9362 -18.79 WCP WHITECAP RESO 15.84 -0.62 -3.77 8030 37.74 IVN IVANHOE MINES 10.75 0.14 1.32 5755 -31.13 ENB ENBRIDGE INC 78.20 -2.01 -2.51 5558 19.06 CNQ CDN NATURAL R 63.26 -2.22 -3.39 5450 36.07 URC URANIUM ROYAL 3.83 -0.34 -8.15 5389 -20.87 TD TORONTO-DOMINI 168.87 -0.13 -0.08 5381 30.54 DML DENISON MINES 4.11 0.01 0.24 5380 12.91 CVE CENOVUS ENERG 39.61 -1.69 -4.09 5330 70.59 SHOP SHOPIFY INC 179.14 18.68 11.64 5309 -18.94 TRP TC ENERGY COR 96.47 -3.12 -3.13 5173 27.64 MFC MANULIFE FIN 62.19 0.63 1.02 4412 24.78 EQX EQUINOX GOLD 13.42 0.34 2.60 4340 -30.43 BTE BAYTEX ENERGY 5.86 -0.23 -3.78 4310 31.98 BNS BANK OF NOVA 122.67 -0.06 -0.05 4303 21.18 ATH ATHABASCA OIL 10.64 -0.32 -2.92 4063 51.35 RY ROYAL BANK OF 296.11 1.10 0.37 3627 26.55 ARX ARC RESOURCES 32.07 -0.62 -1.90 3604 24.54 ABX BARRICK MININ 52.77 0.43 0.82 3532 -11.74 HNU BETAPRO NAT G 7.98 -0.72 -8.28 3507 -51.04 CVE CENOVUS ENERG 39.61 -1.69 -4.09 5330 70.59 CG CENTERRA GOLD 23.28 0.41 1.79 498 17.81 CEU CES ENERGY SO 17.35 0.07 0.41 404 41.40 CSH-UN CHARTWELL 23.19 0.27 1.18 442 15.37 CHP-UN CHOICE PRO 16.09 0.16 1.00 492 8.64 CCA COGECO COMMUN 60.82 0.16 0.26 224 -8.50 CIGI COLLIERS INT 144.01 6.48 4.71 137 -28.62 CSU CONSTELLATION 2837.32 170.08 6.38 47 -14.06 CRR-UN CROMBIE RE 17.63 -0.02 -0.11 61 15.46 CURA CURALEAF HOL 12.63 -0.33 -2.55 155 23.46
Dense Tabular Data (Omitted) TRP TC ENERGY COR 96.47 -3.12 -3.13 5173 27.64 X TMX GROUP LIMIT 51.35 1.42 2.84 1061 -1.68 TVE TAMARACK VALL 12.93 -0.25 -1.90 2008 62.03 TECK-B TECK RESOU 84.32 -0.69 -0.81 984 28.32 T TELUS CORPORATI 14.69 0.29 2.01 9362 -18.79 TVK TERRAVEST IND 121.13 1.26 1.05 76 -26.37 TFII TFI INTERNAT 205.82 -6.61 -3.11 343 45.08 NWC THE NORTH WES 50.58 -0.08 -0.16 106 3.41 TRI THOMSON REUTE 137.93 10.89 8.57 1154 -23.85 TPZ TOPAZ ENERGY 31.90 -0.78 -2.39 279 15.83 TXG TOREX GOLD RE 55.22 0.60 1.10 295 -15.75 TIH TOROMONT IND 210.63 -15.14 -6.71 956 26.85 TD TORONTO-DOMINI 168.87 -0.13 -0.08 5381 30.54 TOU TOURMALINE OI 63.57 -1.59 -2.44 2347 3.25 TA TRANSALTA CORP 18.94 -0.36 -1.87 1935 9.10 TKO TREKOR METALS 10.03 0.15 1.52 1108 29.09 TFPM TRIPLE FLAG 41.00 0.05 0.12 129 -10.11 TSU TRISURA GROUP 43.90 1.08 2.52 83 2.76 TSX LOSERS TOP 20 FOR STOCKS $1 OR MORE SHPD SAVVYSHORT - 10.22 -3.05 -22.98 22 -16.02 OILU SAVVYLONG GE 43.12 -8.91 -17.12 69 167.00 MSTZ SAVVYSHORT - 8.15 -1.43 -14.93 24 -62.34 HOU BETAPRO CRUDE 19.02 -3.13 -14.13 2144 116.88 AMAP 1.10 -0.15 -12.00 884 SNDK SANDISK CDR 31.17 -3.84 -10.97 971 -3.68 COID SAVVYSHORT - 6.86 -0.84 -10.91 1 -55.05 NVDU SAVVYLONG 2X 31.60 -3.50 -9.97 64 -1.16 AMDU SAVVYLONG 2X 18.96 -2.09 -9.93 22 -12.22 ESI ENSIGN ENERGY 3.60 -0.35 -8.86 242 41.73 BDGI BADGER INFRA 90.07 -8.30 -8.44 293 23.16 GTE GRAN TIERRA E 9.50 -0.87 -8.39 32 62.12 HNU BETAPRO NAT G 7.98 -0.72 -8.28 3507 -51.04 URC URANIUM ROYAL 3.83 -0.34 -8.15 5389 -20.87 CNQU SAVVYLONG 2X 41.18 -3.48 -7.79 68.08 GASU SAVVYLONG GE 5.57 -0.47 -7.78 10 -50.04 FTT FINNING INTL 99.80 -8.10 -7.51 784 34.19 TIH TOROMONT IND 210.63 -15.14 -6.71 956 26.85 JOY JOURNEY ENERG 4.25 -0.29 -6.39 211 33.65 ASML ASML CDR (CA 46.85 -3.18 -6.36 66 57.58 SNDK SANDISK CDR 31.17 -3.84 -10.97 971 -3.68 ORBU SAVVYLONG 2X 6.01 -0.14 -2.28 13 -68.20 TSLU SAVVYLONG 2X 11.26 -0.27 -2.34 37 -60.00 GASU SAVVYLONG GE 5.57 -0.47 -7.78 10 -50.04 SHPD SAVVYSHORT - 10.22 -3.05 -22.98 22 -16.02 SPCX SPACEX CDR ( 19.00 -0.30 -1.55 866 -29.71 TSLA TESLA CDR (C 26.88 -0.43 -1.57 640 -32.24 TC TUCOWS INC. 12.13 -0.15 -1.22 6 -60.10 UBER UBER CDR (CA 10.06 0.36 3.71 311 -17.54 VRT VERTIV CDR (C 21.52 -0.24 -1.10 83 -14.87 DFY DEFINITY FINA 80.62 1.32 1.66 166 6.18 DML DENISON MINES 4.11 0.01 0.24 5380 12.91 DSG DESCARTES SYS 100.43 4.19 4.35 328 -16.59 DSV DISCOVERY MIN 8.80 0.16 1.85 987 5.01 DOL DOLLARAMA INC 187.73 3.05 1.65 531 -8.49 DPM DPM METALS IN 51.05 -1.40 -2.67 1314 20.34 DIR-UN DREAM INDU 14.58 -0.07 -0.48 293 15.90 EQB EQB INC 140.00 1.54 1.11 73 34.76 ELD ELDORADO GOLD 45.94 0.95 2.11 312 -6.87 EFN ELEMENT FLEET 31.58 0.23 0.73 985 -12.40 EMA EMERA INCORPO 76.75 -0.77 -0.99 1738 13.47 EMP-A EMPIRE COMP 50.74 0.64 1.28 682 6.33 ENB ENBRIDGE INC 78.20 -2.01 -2.51 5558 19.06 EDR ENDEAVOUR SIL 11.20 0.18 1.63 573 -13.25 EFX ENERFLEX LTD 31.83 -0.34 -1.06 913 50.43 EFR ENERGY FUELS 16.54 0.60 3.76 471 -16.80 EQX EQUINOX GOLD 13.42 0.34 2.60 4340 -30.43 ERO ERO COPPER CO 36.93 0.24 0.65 295 -4.89 EIF EXCHANGE INCO 125.92 0.32 0.25 175 53.64 EXE EXTENDICARE I 38.38 0.47 1.24 685 79.77 FFH FAIRFAX FINAN 2390.56 66.53 2.86 52 -8.61 FTT FINNING INTL 99.80 -8.10 -7.51 784 34.19 FCR-UN FIRST CAPI 22.96 0.06 0.26 229 21.48 AG FIRST MAJESTIC 22.88 -0.11 -0.48 1755 -0.09 FM FIRST QUANTUM 38.40 -0.12 -0.31 2994 4.35 FSV FIRSTSERVICE 198.02 4.22 2.18 174 -7.23 FTS FORTIS INC 82.43 -0.56 -0.67 1570 15.51 FVI FORTUNA MININ 12.11 0.02 0.17 334 -9.96 FNV FRANCO-NEVADA 302.72 -0.40 -0.13 396 6.40 FRU FREEHOLD ROYA 16.65 -0.31 -1.83 832 9.61 GMIN G MINING VEN 43.56 0.56 1.30 408 4.99 GFL GFL ENVIRONME 55.07 -0.94 -1.68 582 -6.60 GEI GIBSON ENERGY 30.40 -0.71 -2.28 412 21.02 GIL GILDAN ACTIVE 71.61 1.13 1.60 629 -16.53 GRT-UN GRANITE RE 98.16 0.50 0.51 52 20.13 GWO GREAT-WEST LI 91.88 -0.52 -0.56 802 35.74

HPS-A HAMMOND POW 269.92 -4.62 -1.68 60 69.25 HWX HEADWATER EXP 13.13 -0.34 -2.52 1215 40.13 HR-UN HR REAL EST 11.15 -0.03 -0.27 164 8.99 HBM HUDBAY MINERA 31.57 0.03 0.10 1914 15.85 H HYDRO ONE LIMIT 59.79 -0.40 -0.66 523 9.43

IAU I 80 GOLD COR 1.90 -0.01 -0.52 634 -5.94 IAG IA FINANCIAL 207.02 1.92 0.94 388 16.41 IMG IAMGOLD CORP 20.78 0.12 0.58 2664 -8.26 IGM IGM FINANCIAL 84.34 1.05 1.26 356 36.45 IMO IMPERIAL OIL 177.72 -3.57 -1.97 744 49.87 IFC INTACT FINANC 298.13 4.67 1.59 506 4.34 IPCO INTERNATIONA 30.71 -1.03 -3.25 407 23.68

SQQQ BETAPRO -3X 8.83 0.09 1.03 411 -32.80 TQQQ BETAPRO 3X N 32.27 -0.31 -0.95 524 17.86 UMAX HAMILTON UTI 13.64 -0.08 -0.58 485 3.57 VEQT VANGUARD ALL 60.85 0.20 0.33 474 13.29 XEG ISHARES SP TS 26.70 -0.82 -2.98 2629 38.92 XEQT ISHARES CORE 44.79 0.22 0.49 710 12.28 XGD ISHARES S&P/T 47.11 0.31 0.66 403 -7.84 XIC ISHARES CORE 56.81 0.35 0.62 641 12.38 XIU ISHARES SP TS 53.15 0.41 0.78 3118 13.11 ZAG BMO AGGREGATE 13.72 0.04 0.29 517 -0.44 ZEB BMO EQUAL WEI 76.64 0.35 0.46 1836 31.46 ZWU BMO COVERED C 12.01 -0.13 -1.07 403 8.49

TSX 52周最高价 股票 $1 或以上

MMMM 3M CDR (CAD 27.75 0.75 2.78 3 9.08 AAPL APPLE CDR (C 47.50 0.48 1.02 104 22.27 BDGI BADGER INFRA 90.07 -8.30 -8.44 288 23.16 BOFA BANK OF AMER 31.18 0.24 0.78 4 11.60 BBD-A BOMBARDIER 375.57 8.12 2.21 2 61.32 BBD-B BOMBARDIER 373.41 7.17 1.96 272 59.92 BN-PF-D BROOKFIEL 22.00 0.05 0.23 1.43 BIP-PR-E BROOKFIE 26.40 0.08 0.30 1.62 CTC-A CANADIAN TI 201.91 3.05 1.53 270 16.08 CAPQ CAPITAL GROU 24.77 -0.09 -0.36 -0.08 CAPN CAPITAL GROU 25.00 0.00 0.00 1 CVG CLAIRVEST GRO 78.95 0.95 1.22 8.15 DFY DEFINITY FINA 80.62 1.32 1.66 166 6.18 EMA-PR-E EMERA IN 21.80 0.30 1.40 3 5.93 EMA-PR-L EMERA IN 21.75 0.24 1.12 5 5.79 ENB-PR-D ENBRIDGE 24.08 0.08 0.33 2 10.16 ENB-PR-N ENBRIDGE 25.79 -0.05 -0.19 3 5.78 ENB-PF-G ENBRIDGE 24.88 0.17 0.69 5 7.80 ENB-PF-A ENBRIDGE 24.99 0.14 0.56 5 7.72 ENB-PF-U ENBRIDGE 25.08 -0.02 -0.08 1 4.37

TSX 52周最低价 股票 $1 或以上

AMAP AMAPA MINERA 0.11 -0.02 -12.00 884 PAYU BROMPTON US 24.66 -0.06 -0.24 1 -1.44 PAYI BROMPTON UTI 24.61 -0.64 -2.53 2 -1.91 CAPQ CAPITAL GROU 24.77 -0.09 -0.36 -0.08 ECO ECOSYNTHETIX 2.63 -0.12 -4.36 1 -34.25 GEO GEODRILL LIMI 2.51 0.00 0.00 17 -39.37 HAI HAIVISION SYS 4.35 0.08 1.87 6 -16.98 HHII HARVEST INTE 11.51 0.11 0.96 80 -1.46 PCA PHOENIX METAL 1.19 -0.06 -4.80 109 -4.80 PWRS QUANTA SERVI 23.25 -1.03 -4.24 1 -19.38

IIP-UN INTERRENT 13.54 0.01 0.07 647 2.65 IVN IVANHOE MINES 10.75 0.14 1.32 5755 -31.13

JWEL JAMIESON WEL 42.39 1.52 3.72 76 25.97

KNT K92 MINING IN 22.99 0.58 2.59 549 1.32 KEL KELT EXPLORAT 9.71 -0.39 -3.86 657 26.60 KEY KEYERA CORP 59.50 -1.21 -1.99 890 35.23 KMP-UN KILLAM APA 18.61 -0.25 -1.33 238 13.48 KXS KINAXIS INC 157.27 9.67 6.55 72 -9.13 K KINROSS GOLD CO 33.77 0.11 0.33 3174 -12.65

LIF LABRADOR IRON 25.97 0.03 0.12 144 -13.06 LB LAURENTIAN BAN 40.33 0.04 0.10 258 0.07 LSPD LIGHTSPEED C 14.53 0.56 4.01 723 -12.26 LNR LINAMAR CORP 102.79 1.20 1.18 112 23.90 LAC LITHIUM AMERI 4.11 0.12 3.01 750 -31.16 L LOBLAW CO 64.97 0.62 0.96 846 4.71 LUG LUNDIN GOLD I 81.27 1.89 2.38 455 -28.72 LUN LUNDIN MINING 35.69 -0.25 -0.70 1760 20.98

MG MAGNA INTERNAT 94.83 2.28 2.46 648 29.60 MFC MANULIFE FIN 62.19 0.63 1.02 4412 24.78 MFI MAPLE LEAF FO 28.83 0.87 3.11 235 15.64 MDA MDA SPACE LTD 42.18 0.46 1.10 809 58.33 MX METHANEX CORP 76.57 -2.15 -2.73 263 40.65 MRU METRO INC 93.44 0.91 0.98 742 -5.42 MAU MONTAGE GOLD 16.59 0.19 1.16 395 67.91 MTL MULLEN GROUP 28.18 -0.55 -1.91 631 79.03

NA NATIONAL BANK 228.42 1.02 0.45 1309 32.33 NXE NEXGEN ENERGY 13.11 0.22 1.71 1423 3.80 NFI NFI GROUP INC 25.85 0.22 0.86 190 66.56 NGEX NGEX MINERAL 26.14 -0.35 -1.32 364 2.11 NPI NORTHLAND POW 21.63 -0.45 -2.04 746 21.18 NG NOVAGOLD RES I 8.42 0.06 0.72 637 -34.22 NTR NUTRIEN LTD 95.30 -0.83 -0.86 1891 12.49

Dense Tabular Data (Omitted) OR OR ROYALTIES I 41.74 0.61 1.48 443 -14.15 OGC OCEANAGOLD CO 34.12 0.55 1.64 615 -12.29 ONEX ONEX CORPORA 109.04 2.40 2.25 75 -3.47 OTEX OPEN TEXT CO 33.37 1.81 5.74 865 -25.35 OLA ORLA MINING L 13.39 0.32 2.45 1548 -27.46 PAAS PAN AMERICAN 62.28 0.19 0.31 996 -12.48 POU PARAMOUNT RES 29.57 -0.73 -2.41 135 22.24 PXT PAREX RESOURC 23.09 -0.50 -2.12 742 25.15 PPL PEMBINA PIPEL 70.53 -1.91 -2.64 2351 34.88 PPTA PERPETUA RES 25.79 0.65 2.59 123 -22.39 PEY PEYTO EXPLORA 25.67 -0.46 -1.76 1061 13.03 POW POWER CORPORA 92.74 -0.16 -0.17 1207 27.13 PSK PRAIRIESKY RO 34.43 -0.68 -1.94 337 27.38 PBH PREMIUM BRAND 91.03 2.22 2.50 164 -10.50 PMZ-UN PRIMARIS R 23.14 0.12 0.52 199 48.43 QBR-B QUEBECOR IN 65.98 0.64 0.98 483 27.62 RBA RB GLOBAL INC 164.29 6.85 4.35 202 16.26 QSR RESTAURANT BR 105.24 2.93 2.86 950 12.36 RCH RICHELIEU HAR 35.72 0.35 0.99 80 -9.71 REI-UN RIOCAN REA 22.50 -0.11 -0.49 518 20.32 RCI-B ROGERS COMM 46.35 0.15 0.32 2879 -10.54 RY ROYAL BANK OF 296.11 2.86 0.98 3627 26.55 RUS RUSSEL METALS 68.50 -2.20 -3.11 235 56.39 BONDS CANADA TERM YIELD CHG 2-YEAR 2.88 -0.03 5-YEAR 3.18 -0.04 10-YEAR 3.56 -0.05 30-YEAR 3.94 -0.05 RATES RATE CHG BOFC OVERNIGHT TARGET 2.25 UNCH CANADIAN PRIME 4.45 UNCH Source: wires GWO-PF-A GREAT WE 25.47 0.08 0.32 5 2.41 HBDV HUMILIS NORT 23.02 0.12 0.52 1 13.96 IFC-PR-E INTACT F 24.36 -0.05 -0.20 11 1.75 JPM JPMORGAN CDR 45.44 0.45 1.00 14 8.58 KBL KBRO LINEN IN 47.40 -0.09 -0.19 8 35.00 MFC MANULIFE FIN 62.19 0.63 1.02 4402 24.78 PPL-PF-A PEMBINA 26.55 0.06 0.23 4 2.67 PPL-PR-C PEMBINA 25.81 0.21 0.82 1 4.07 ZYNS PHILIP MORRI 26.95 0.30 1.13 19.83 POW POWER CORPORA 92.74 -0.16 -0.17 1207 27.13 PWF-PR-P PWR FNL 21.70 0.11 0.51 4 7.53 RFA-PR-I RFA FINA 23.25 -0.23 -0.98 2 2.20 RTX RTX CDR (CAD 50.42 1.17 2.38 4 18.05 RUS RUSSEL METALS 68.50 -2.20 -3.11 235 56.39 AAPU SAVVYLONG 2X 48.42 1.20 2.54 16 42.41 SYK STRYKER CDR ( 22.81 0.43 1.92 7 13.20 SLF SUN LIFE FINA 117.20 1.20 1.03 2145 36.79 SLF-PR-D SUN LIFE 22.29 0.00 0.00 45 2.06 TRP-PR-E TC ENERG 24.95 0.00 0.00 12 6.31 TA-PR-D TRANSALTA 21.60 0.00 0.00 8 5.88 SAP SAPUTO INC. 40.85 0.90 2.25 709 -1.11 SEA SEABRIDGE GOL 37.02 0.35 0.95 44 -9.02 SES SECURE WASTE 23.13 -0.38 -1.62 436 33.93 SHOP SHOPIFY INC 179.14 18.68 11.64 5309 -18.94 SIA SIENNA SENIOR 23.05 0.12 0.52 316 12.82 SVM SILVERCORP ME 13.76 0.15 1.10 611 19.86 SKE SKEENA RESOUR 38.35 0.13 0.34 187 17.64 SRU-UN SMARTCENTR 29.91 0.18 0.61 340 16.16 SOBO SOUTH BOW CO 52.79 -1.49 -2.75 464 39.84 SXGC SOUTHERN CRO 9.25 0.23 2.55 330 -12.65 SDE SPARTAN DELTA 11.54 -0.58 -4.79 415 59.17 SII SPROTT INC. 147.62 2.44 1.68 30 9.80 SSRM SSR MINING I 37.15 -0.75 -1.98 461 23.46 STN STANTEC INC 99.62 4.49 4.72 512 -23.09 SJ STELLA JONES I 78.71 1.85 2.41 104 -7.54 SCR STRATHCONA RE 40.62 -1.34 -3.19 368 43.38 SLF SUN LIFE FINA 117.20 1.20 1.03 2147 36.79 SU SUNCOR ENERGY 90.47 -2.38 -2.56 3146 48.51 SPB SUPERIOR PLUS 8.17 0.00 0.00 399 16.05 VET VERMILION ENE 14.96 -0.93 -5.85 1681 31.00 VZLA VIZSLA SILVE 4.67 0.00 0.00 609 -37.90 WSP WSP GLOBAL IN 172.37 11.23 6.97 863 -30.64 WCN WASTE CONNECT 239.58 0.22 0.09 483 -0.47 WDO WESDOME GOLD 26.57 0.43 1.64 253 16.84 WFG WEST FRASER T 93.53 0.19 0.20 128 11.39 WN WESTON GEORGE 104.63 0.72 0.69 143 10.50 WPM WHEATON PRECI 158.18 0.91 0.58 547 -1.97 WCP WHITECAP RESO 15.84 -0.62 -3.77 8030 37.74 CURRENCIES FOREIGN EXCHANGE CROSS RATES CAD USD AUD EUR GBP JPY CHF CAD - 0.7081 1.0128 0.6226 0.5325 115.93 0.5798 USD 1.4123 - 1.4306 0.8792 0.7521 163.73 0.8187 AUD 0.9872 0.6991 - 0.6146 0.5257 114.45 0.5723 EUR 1.6063 1.1374 1.6270 - 0.8555 186.22 0.9313 GBP 1.8783 1.3297 1.9026 1.1692 - 217.70 1.0888 JPY 0.0086 0.0061 0.0087 0.0054 0.0046 - 0.0050 CHF 1.7248 1.2214 1.7474 1.0738 0.9186 199.96 -

Page 27

体育

多伦多蓝鸟队先发投手马克斯·谢尔泽(Max Scherzer)周一在华盛顿的国家公园球场对阵国民队期间,在第三局进行投球。谢尔泽自6月10日以来因伤缺阵,在他42岁生日当天,他面对着他曾帮助带领进入2019年世界大赛的球队再次先发。多伦多队以3-2获胜。赛事报道请访问 GLOBESPORTS.COM “疯狂马克斯”重返投手丘

堪萨斯城进攻协调员之子因枪击母亲被起诉

DAVE SKRETTA 密苏里州圣约瑟夫

弗吉尼亚州当局周一表示,堪萨斯城助理教练埃里克·比尼米(Eric Bieniemy)的儿子已被逮捕,并被指控枪击其母亲米亚·比尼米(Mia Bieniemy),后者是该队进攻协调员的妻子。

劳登县警长办公室表示,副警长于周日晚间对弗吉尼亚州阿什本的一起枪击事件做出响应,这对夫妇在那里仍有一处住宅,那是比尼米执教华盛顿指挥官队时期的房产。他们发现了身中多处枪弹伤的57岁米亚·比尼米,她被送往医院,周一情况稳定。

这对夫妇27岁的儿子以利亚·齐恩·比尼米(Elijah Zion Bieniemy)于周一早晨因涉嫌此次枪击而被逮捕。他被指控恶意伤害、在实施重罪过程中使用枪支以及在住宅内开火,目前被羁押且未

因法蒂诺在公开信中抨击批评者“散布仇恨和虚假谣言”

GRAHAM DUNBAR 瑞士,日内瓦

在世界杯决赛一周后,国际足联(FIFA)主席詹尼·因法蒂诺(Gianni Infantino)抨击那些被认为在针对该赛事“散布仇恨和虚假谣言”的批评者。

因法蒂诺在周日晚间通过其 Instagram 账号发布的一篇 15 页帖子以及国际足联官方网站上发表的一份 900 字声明中,称赞国际足联“呈现了全球最精彩的表演”,并谈到世界杯带来了“欢乐与团结”。

“很遗憾你们如此沉溺于仇恨和批评,以至于错过了这一切,”这位国际足联领导人在信中写道,其评论指向“那些躲在笔纸背后、屏幕背后散布仇恨和虚假谣言的人”。

国际足联和因法蒂诺在世界杯期间面临批评,原因包括:伊朗队官员、一名索马里裁判以及部分球迷被拒绝入境美国;美国总统唐纳德·特朗普(Donald Trump)被指通过政治影响使福拉林·巴洛根(Folarin Balogun)免于因红卡而被禁赛;前所未有的高票价;以及在所有 104 场比赛的上下半场中途引入商业化休息时段。

“每个城市都挤满了来自全球各地的球迷,”因法蒂诺写道。“当他们在庆祝时,你们却在忙于播种仇恨的种子。”

“在你们躲藏时,我们正在加拿大、墨西哥和美国的街道上探索,与球迷交谈,与人们接触,并确保每个人的安全。”

在担任主席的第 11 年里,因法蒂诺与媒体的关系日益紧张。

他在墨西哥城于赛事前夕召开的新闻发布会,是自 2023 年 3 月以来他首次面对完整的国际媒体集群。

此前在卢旺达举行的一次类似新闻发布会上(当时他刚获得国际足联成员协会的一致通过连任),因法蒂诺曾询问听众:“你们为什么这么刻薄?”

上个月在墨西哥城,因法蒂诺暗示批评者应该“冷下心来,放松点”。

此外,他还受到了美国国会部分人士的审查。马里兰州众议员、众议院司法委员会民主党首席议员杰米·拉斯金(Jamie Raskin)周日致信因法蒂诺,要求提供详细记录国际足联与特朗普政府之间关系的文档。

国际足联的一名代表未立即就该信函的评论请求做出回应。

伊朗队能否至少在……

在劳登县成年人拘留中心(Loudoun County Adult Detention Center)办理保释。 警长办公室表示,调查仍在进行中。 埃里克·比尼米(Eric Bieniemy)周日早些时候在密苏里州圣约瑟夫的堪萨斯城训练营中。他没有参加周一涉及新秀、四分卫和少数资深球员的训练,该训练不对公众开放。

“我们的心与埃里克·比尼米及其家人同在。向他们表达关切与祈祷,”堪萨斯城教练安迪·里德(Andy Reid)随后表示。“我不能透露细节,但有些事情有时就是会发生,埃里克会挺过去的。他在這裡有一个强大的支持团体,他的家人在需要时也是如此,我们只需让时间去处理。但米娅(Mia)情况稳定,这是一个好消息。”

“她是个圣人,认识她的人都知道。她是上帝赐予的伟大祝福之一,”里德补充道。“但事情发生了,你必须克服它。这就是我们目前的处境。需要时间来帮助愈合。”

我们的心与埃里克·比尼米及其家人同在。向他们表达关切与祈祷。

[[IMG_XXXX]] [ 蓝鸟队 VS. 国民队 ] GREG FIUME/GETTY IMAGES

安迪·里德 堪萨斯城教练

里德不知道比尼米(Bieniemy)将离开球队多久。在球队继续训练营期间的进攻演习中,传球比赛协调员乔·布莱迈尔(Joe Bleymaier)和进攻线教练安迪·赫克(Andy Heck)将接管他的职责。

“在这种事情上,这是现实生活。所以你要处理好这些,”里德说。“我们在这里能让事情继续推进,但最重要的是,E.B.有机会在那里花一些时间处理那些事务。”

埃里克·比尼米(Eric Bieniemy)在 2013 年初加入了里德在堪萨斯城的教练组,在被晋升为进攻协调员之前,他担任了五个赛季的跑卫教练。在接下来的五个个赛季中,要求严格但深受喜爱的比尼米在指导 NFL 最佳进攻组之一的同时,帮助堪萨斯城队三次进入超级碗并赢得了其中两次冠军。

他面试了几个主教练职位,但一直被跳过,因此比尼米在 2023 年前往指挥官队,希望以此提升自己的履历。但该队表现挣扎,主教练隆·里维拉(Ron Rivera)的教练组被解雇,比尼米在加州大学洛杉矶分校(UCLA)担任了一个赛季的进攻协调员,随后在熊队担任了上赛季的跑卫教练。

比尼米本赛季回到堪萨斯城,接替马特·纳吉(Matt Nagy)担任进攻协调员。他参加了夏季在堪萨斯城的休赛期训练,并在上周球队开始进入训练营时在场。球队周二休息。周三将在密苏里西部州立大学进行首次全队训练。

“能让[比尼米]回到这里真是太好了,”里德上周说。“他总是带来巨大的能量。我告诉过你们,他在领导力方面是我接触过最出类拔萃的人之一。他正在践行这一点。他在那里全力以赴——工作非常勤奋,对此我很感激。他绝不会让任何事情掉在地上。他在那方面做得很好。”

美联社 (THE ASSOCIATED PRESS)

在美国参加三场比赛是一个关键的赛前议题,该队在最后时刻将训练营从亚利桑那州的图森市改为墨西哥的蒂华纳。

“伊朗在没有任何事故或冲突的情况下进入了美国,”因凡蒂诺(Infantino)在他的声明中指出。“当你们散播仇恨时,我们不懈努力地团结两个处于战争状态的国家。”

被拒绝进入美国签证的球迷包括米歇尔·恩库卡·姆博拉丁加(Michel Nkuka Mboladinga),他是刚果民主共和国著名的雕像支持者,当时该国正面临埃博拉病毒疫情。他在墨西哥参加了一场比赛。

“你提到了少数被拒绝签证的人,却忽略了来自世界各地数百万获得批准的人,”因凡蒂诺写道。“面临严重健康问题或其他挑战的国家也被授予了签证。”

关于美国前锋巴洛根(Balogun)被红牌罚下的后续影响,因凡蒂诺声称,“在某些情况下决定不禁赛球员是常规操作。”

FIFA 没有撤销巴洛根的红牌(这种情况在国内俱乐部赛事中确实会发生),而是采取了一个较为罕见的步骤,将一场比赛的禁赛期推迟到试用期。FIFA 尚未公布其纪律法官的书面裁决。

“对于那些花费时间精力和我们敌对的人,请花一点时间反思、冥想、祈祷,或者看一场足球赛,真正观察那些面孔、眼神和情感,”因凡蒂诺写道。

他在声明的最后签署道:“给予所有人许多爱。”

第 28 页

7月 28日

卡尔加里奥林匹克椭圆赛道将获得 5200 万美元升级资金

体育训练场馆

自 1988 年冬季奥运会亮相以来 已培养出众多 加拿大奥运选手

唐娜·斯彭塞(DONNA sPENCEr) 卡尔加里

卡尔加里的奥林匹克速度滑冰馆(Olympic Oval)即将进行升级。 联邦政府和省政府将平分 $52-million 的拨款,用于翻新这座为 1988 年卡尔加里冬季奥运会而建的速度滑冰设施。

联邦政府周一还宣布,将额外投资 $7.67-million 用于魁北克省、育空地区、艾伯塔省和不列颠哥伦比亚省的滑雪比赛和单板滑雪设施,并为体育援助计划(Athletic Assistance Program)追加 $3-million,该计划通过每月发放支票帮助加拿大的高水平运动员支付账单。

“这不仅是对加拿大体育或加拿大速度滑冰的一件好事。这是一个加拿大体育的黄金时代,因为我们正在从操场到领奖台,从人员到场所,以及体育运动为了继续成为加拿大最伟大的国家建设工程而需要的一切方面,进行国家历史上最大规模的投资,”体育国务秘书亚当·范·科弗登(Adam van Koeverden)周一在卡尔加里表示。

“卡尔加里奥林匹克速度滑冰馆产生了极多且可能无法估量的奥运奖牌,同时也留下了记忆,造就了英雄。除此之外,据我了解,那里可以容纳十几个排球场。很多孩子也在那里学习滑冰。”

MLB

美国联盟 国家联盟

东区 胜 负 胜率 落后 坦帕湾 62 43 .590 — 纽约 59 46 .562 3 波士顿 54 50 .519 7 1/2 巴尔的摩 51 55 .481 11 1/2 多伦多 48 58 .453 14 1/2 中区 芝加哥 55 49 .529 — 克利夫兰 54 53 .505 2 1/2 明尼苏达 53 54 .495 3 1/2 底特律 50 56 .472 6 堪萨斯城 45 62 .421 11 1/2 西区 德克萨斯 54 52 .509 — 休斯顿 52 55 .486 2 1/2 西雅图 52 55 .486 2 1/2 奥克兰 44 61 .419 9 1/2 洛杉矶 42 64 .396 12

东区

周一 德克萨斯 7, 西雅图 3 巴尔的摩 对 底特律 纽约洋基 对 芝加哥白袜 休斯顿 对 洛杉矶天使 波士顿 对 奥克兰

周日 坦帕湾 1, 克利夫兰 0 波士顿 6, 多伦多 1 堪萨斯城 5, 底特律 4 芝加哥白袜 12, 休斯顿 3 明尼苏达 11, 奥克兰 8 西雅图 6, 德克萨斯 4

周二 所有时间为东部时间 巴尔的摩 (Kremer 1-3) 对 底特律 (Melton 5-1), 下午 6:40 德克萨斯 (Quantrill 3-3) 对 坦帕湾 (Jax 6-7), 下午 6:40 克利夫兰 (Williams 10-5) 对 辛辛那提 (Singer 5-9), 下午 7:10 堪萨斯城 (Lugo 4-6) 对 明尼苏达 (Bradley 9-4), 下午 7:40 纽约洋基 (Cole 3-5) 对 芝加哥白袜 (Kay 7-4), 下午 7:40 休斯顿 (Lambert 8-5) 对 洛杉矶天使 (Detmers 3-7), 下午 9:38 波士顿 (Bennett 6-3) 对 奥克兰 (Jump 3-6), 下午 9:40

跨联盟

周一 多伦多 对 华盛顿 克利夫兰 对 辛辛那提

周日 亚特兰大 3, 巴尔的摩 2, 11 局 洛杉矶天使 4, 旧金山 3 费城 11, 纽约洋基 4

周二 所有时间为东部时间 多伦多 (Bieber 2-1) 对 华盛顿 (Cavalli 7-4), 下午 6:45 西雅图 (Castillo 3-9) 对 洛杉矶道奇 (Lauer 5-5), 下午 10:10

CORNERED

OFF THE MARK

SPEED BUMP

BIZARRO

速度滑冰运动员周一在卡尔加里奥林匹克速度滑冰馆训练。 JEFF MCINTOSH/THE CANADIAN PRESS

THE CANADIAN PRESS

“它是我们社区和国家的极其重要的资产。” 这座位于卡尔加里大学校园内的滑冰馆于 1987 年完工,造价 $40-million,并在次年成为奥运速度滑冰场馆。 近四十年来,它一直是社区、大学和高水平体育设施,以及国家速度滑冰队的基地。 在那里训练的加拿大速度滑冰运动员共获得了 40 枚奥运奖牌,其校友包括 Catriona Le May Doan, Cindy Klassen, Clara Hughes, Denny Morrison, Jeremy Wotherspoon, Isabelle Weidemann 和 Ivanie Blondin。 加拿大奥运女子冰球队的近十名球员,包括 Hayley Wickenheiser,也在该馆打过俱乐部冰球。 但该馆的制冰能力已接近使用寿命终点。

东部赛区 胜 负 胜率 分差 亚特兰大 62 43 .590 — 费城 57 49 .538 51/2 华盛顿 54 52 .509 81/2 迈阿密 52 54 .491 101/2 纽约 44 62 .415 181/2 中部赛区 密尔沃基 66 39 .629 — 芝加哥 59 46 .562 7 匹兹堡 54 52 .509 121/2 圣路易斯 53 52 .505 13 辛辛那提 49 55 .471 161/2 西部赛区 洛杉矶 67 39 .632 — 亚利桑那 55 51 .519 12 圣迭戈 53 53 .500 14 旧金山 44 61 .419 221/2 科罗拉多 42 65 .393 251/2

周一 亚利桑那 客场 匹兹堡 费城 客场 迈阿密 亚特兰大 客场 纽约大都会 芝加哥小熊 客场 圣路易斯 密尔沃基 客场 旧金山

周日 匹兹堡 8, 芝加哥小熊 7 圣迭戈 5, 迈阿密 3 华盛顿 10, 亚利桑那 7 纽约大都会 8, 洛杉矶道奇 3 密尔沃基 11, 科罗拉多 2 辛辛那提 5, 圣路易斯 3, 10 局

周二 所有时间均为东部时间 亚利桑那 (Pfaadt 5-1) 客场 匹兹堡 (Chandler 3-8), 下午 6:40 费城 (Nola 3-8) 客场 迈阿密 (Alcantara 10-6), 下午 6:40 亚特兰大 (Sale 11-6) 客场 纽约大都会 (Scott 3-2), 下午 7:10 克利夫兰 (Williams 10-5) 客场 辛辛那提 (Singer 5-9), 下午 7:10 芝加哥小熊 (Rea 7-7) 客场 圣路易斯 (McGreevy 4-8), 下午 7:45 科罗拉多 (Lorenzen 3-9) 客场 圣迭戈 (King 6-7), 下午 9:40 密尔沃基 (Henderson 4-1) 客场 旧金山 (Roupp 7-8), 下午 9:45

CFL (加拿大橄榄球联盟)

场数 胜 负 得分 失分 积分 蒙特利尔 7 6 1 239 204 12 汉密尔顿 7 3 4 167 190 6 多伦多 7 3 4 220 219 6 渥太华 6 0 6 153 213 0 西部赛区

场数 胜 负 得分 失分 积分 埃德蒙顿 7 6 1 203 172 12 萨斯喀彻温 6 4 2 204 169 8 温尼伯 7 4 3 185 208 8 卡尔加里 7 3 4 278 244 6 不列颠哥伦比亚 6 1 5 152 182 2 第八周 轮空:渥太华 周日 蒙特利尔 31 汉密尔顿 18

由于其巨大的地板下方 400 个老旧管道接头出现盐水泄漏。 “人们团结起来拯救这座设施,否则它无法生存,速度滑冰项目就得搬离卡尔加里,”双届奥运金牌得主 Weidemann 说道。 “能够延续 88 年奥运会留下的遗产,我激动得发抖。我被社区团结起来拯救它的行动深深打动了。” 据该馆馆长 Mark Messer 称,新的跑道以及为使用移动辅助设备的人士改善无障碍设施是该椭圆场馆的其他需求。 他说,为完成这些项目而筹集另外 $13 百万美元的资金仍在进行中,但周一的公告意味着,预计为期九个月的更换工程可以在 2028 年 1 月开始破除地面。

WTA巡回赛

MUBADALA CITI DC 公开赛

周一 地点:美国华盛顿特区 奖金:$2,488,125 场地:室外硬地 男子 单打 — 32强赛 Alejandro Tabilo (智利) 击败 Tallon Griekspoor (荷兰), 7-6 (3), 4-6, 6-4。 Lorenzo Musetti (4) (意大利) 击败 Matteo Arnaldi (意大利), 6-0, 3-1, 对方退赛。 Taylor Fritz (3) (美国) 击败 Zizou Bergs (比利时), 6-3, 6-4。

双打 — 16强赛 Edouard Roger-Vasselin (法国) 和 Hugo Nys (摩纳哥) 击败 Albano Olivetti 和 Theo Arribage (法国), 3-6, 7-6 (3), 10-7。 Nikola Mektic (克罗地亚) 和 Austin Krajicek (美国) 击败 Brandon Nakashima (美国) 和 Rafael Jodar (西班牙), 6-4, 6-4。 Simone Bolelli 和 Andrea Vavassori (1) (意大利) 击败 Alexander Erler (奥地利) 和 Robert Cash (美国), 6-4, 6-4。 Christian Harrison (美国) 和 Neal Skupski (2) (英国) 击败 Diego Hidalgo (厄瓜多尔) 和 Ben Shelton (美国), 6-2, 3-6, 10-7。

女子 单打 — 32强赛 Leylah FeRnandez (7) (魁北克省拉瓦尔) 击败 Magda Linette (波兰), 6-1, 6-4。 Elisabetta Cocciaretto (意大利) 击败 Clara Tauson (丹麦), 4-6, 7-6 (2), 7-6 (2)。 Emma Navarro (8) (美国) 击败 Sofia Kenin (美国), 6-0, 7-5。

双打 — 16强赛 Andreja Klepac (斯洛文尼亚) 和 Makoto Ninomiya (日本) 击败 Lea Ma 和 Carolyn Ansari (美国), 6-3, 6-7 (6), 10-6。 Venus Williams (美国) 和 Diana Shnaider (俄罗斯) 击败 Ulrikke Eikeri (挪威) 和 Quinn Gleason (美国), 6-3, 6-4。 Alana Smith 和 Clervie Ngounoue (美国) 击败 Ann Li (美国) 和 Clara Tauson (丹麦), 6-2, 4-6, 10-3。

体育聚焦

1913 — 美国在击败英国,以三比二的比分获胜后,赢得了自 1902 年以来的首个戴维斯杯冠军。 1928 — 夏季奥运会在阿姆斯特丹开幕,奥运圣火首次被点燃。 1929 — 芝加哥红雀队成为首支在州外训练的 NFL 球队,在密歇根州举行训练营。 1972 — 美国篮球协会宣布 NBA 的布法罗勇士队将搬迁至圣迭戈,并更名为圣迭戈快船队。

“在 2028 年 1 月之前,我们确实无法对地板进行处理,但这是一项优先任务,”自该场地成立以来就在此工作的 Messer 说道。“那里的情况恶化得相当快。 “这 52 [百万] 将会拯救我们。我们现在知道可以开展这个项目了。” 该场馆位于大学校园内,这使得申请政府资金变得复杂,因为它被视为教育机构。但它已能够从联邦政府用于全国项目的 510 亿 [$51-billion] “加强社区建设基金”(Build Communities Strong Fund)中获得 2600 万 [$26-million],以及省级资金。 “这个设施真正是一个多项运动设施。我们这里有柔道、排球和其他比赛,”艾伯塔省体育部长 Andrew Boitchenko 表示。“它绝对值得投资并维持运营。”

MLS

东部会议

东部会议

GP W L T GF GA Pt 纳什维尔 17 12 2 3 33 12 39 迈阿密 17 11 2 4 43 30 37 新英格兰 16 9 5 2 26 19 29 芝加哥 16 8 6 2 30 22 26 纽约城 F.C. 17 7 6 4 30 23 25 夏洛特 17 7 6 4 28 25 25 辛辛那提 17 6 6 5 41 42 23 纽约红牛 17 6 7 4 26 37 22 华盛顿 D.C. 17 5 5 7 24 27 22 奥兰多 17 6 9 2 28 44 20 哥伦布 17 5 8 4 24 26 19 多伦多 17 3 7 7 23 31 16 蒙特利尔 17 4 10 3 22 33 15 费城 17 3 10 4 22 31 13 亚特兰大 17 3 11 3 17 30 12

西部会议

西部会议

西部会议

GP W L T GF GA Pt 温哥华 16 10 3 3 37 16 33 圣何塞 17 10 4 3 35 20 33 洛杉矶 F.C. 1810 5 3 34 18 33 盐湖城 16 8 6 2 28 24 26 休斯顿 16 8 6 2 23 24 26 达拉斯 17 7 5 5 32 25 26 圣路易斯 17 7 6 4 23 23 25 西雅图 16 7 6 3 19 20 24 明尼苏达 17 6 6 5 19 24 23 波特兰 17 6 8 3 31 32 21 洛杉矶银河 18 5 7 6 24 29 21 圣迭戈 17 5 7 5 31 28 20 科罗拉多 17 6 10 1 26 25 19 奥斯汀 17 4 8 5 22 35 17 堪萨斯城 17 4 11 2 18 44 14

MLS 全明星赛休息期 北卡罗来纳州夏洛特 周二 所有时间均为东部时间 技巧挑战赛,晚上 7:30

周三 MLS 全明星队 vs. LIGA MX 全明星队,晚上 8 点

2026 英联邦运动会

奖牌榜

苏格兰格拉斯哥 截至周一赛事 国家/地区 G S B Tot 澳大利亚 26 13 20 59 英格兰 8 13 11 32 加拿大 7 8 6 21 苏格兰 5 4 2 11 南非 3 3 5 11 尼日利亚 6 4 0 10 印度 2 5 3 10 新西兰 1 4 3 8 威尔士 0 2 5 7 马来西亚 3 0 2 5 肯尼亚 1 2 2 5 牙买加 2 0 0 2 塞浦路斯 0 1 1 2 北爱尔兰 0 1 1 2 加纳 0 1 0 1 泽西 0 1 0 1 萨摩亚 0 1 0 1 乌干达 0 1 0 1 瑙鲁 0 0 1 1 巴布亚新几内亚 0 0 1 1

NSL

GP W L T GF GA Pt 渥太华 13 10 2 1 30 15 31 蒙特利尔 13 7 3 3 24 13 24 多伦多 12 5 4 3 17 13 18 哈利法克斯 13 5 6 2 15 12 17 温哥华 13 5 7 1 20 30 16 卡尔加里 12 0 10 2 9 32 2

周日-周一 无预定比赛。

周二 所有时间均为东部时间 卡尔加里在多伦多,晚上 7 点。

CPL

GP W L T GF GA Pt 汉密尔顿 13 11 1 1 23 8 34 卡尔加里 13 8 2 3 23 7 27 渥太华 14 6 5 3 22 25 21 温哥华 14 6 6 2 21 15 20 哈利法克斯 15 4 7 4 20 24 16 魁北克 12 4 6 2 18 23 14 多伦多 12 3 5 4 15 25 13 维多利亚 13 0 10 3 15 30 3

注:获胜 awarded 三分,平局 awarded 一分。 周一 无预定比赛。

周日 汉密尔顿 3 多伦多 1 渥太华 3 维多利亚 2

周二 所有时间均为东部时间 魁北克在卡尔加里,晚上 9 点。

加拿大俱乐部足球锦标赛

四分之一决赛

第二回合 周二,8月11日 所有时间均为东部时间 渥太华竞技 (CPL) 在魁北克 Supra (CPL),晚上 7 点。 (Supra du Quebec 以 3-2 的总比分领先)

电视节目 周二(所有时间均为东部时间)

棒球 MLB:多伦多 vs. 华盛顿,SN Ontario, East, West, Pacific, 晚上 6:30。 MLB:纽约洋基 vs. 芝加哥白袜,SN 1,晚上 7:30。

篮球 WNBA:康涅狄格对阵华盛顿, NBA TV Canada,晚上 7:30 WNBA:多伦多对阵明尼苏达,TSN 4, 5, 晚上 8 点 WNBA:纽约对阵洛杉矶,NBA TV Canada,晚上 10 点

WNBA

足球 NSL:卡尔加里对阵多伦多,SN 1,晚上 7 点

网球 ATP:华盛顿,TSN 3,上午 11 点,下午 6 点

“我们从 ’88 年起就在这里拥有它了, 希望在接下来的 40, 50 年里我们还能拥有它,因为 拥有这样一个美丽的大型建筑, 让人们可以来这里举行所有这些活动和比赛, 对于卡尔加里、该省以及加拿大来说都至关重要。” 凡·科弗登补充道:“在过去一年左右的时间里, 我一直 在 与 博伊琴科部长 会面。 在 这些 接触中, 我们 讨论了我们将共同在体育领域进行的 最重要的投资, 而卡尔加里奥运滑冰馆 一直处于这些优先事项之首。” 在卡尔加里海拔高度和干燥气候的帮助下,这里被誉为“世界上最快的冰场”,加拿大和国际滑冰运动员在卡尔加里共创造了 300 多项速度滑冰世界纪录。 但盐湖城较新的滑冰馆最近在两地长期竞争世界纪录的较量中占据了上风。 卡尔加里的滑冰馆是加拿大三个室内滑冰馆中最古老的。 魁北克市的 Intact Assurance 冰上中心于 2021 年耗资 $68.7-million 启用,曾举办过国际速度滑冰比赛。 位于不列颠哥伦比亚省 Fort St. John 的 $44-million 的 Pomeroy 体育中心于 2010 年启用。 联邦政府还将向魁北克、育空和艾伯塔省的单板滑雪设施投资 $4-million 以上,并向艾伯塔省和不列颠哥伦比亚省的滑雪比赛设施投资 $3.65-million。 运动员援助计划(Athlete Assistance Program)或称“carding”的年度预算增加到 $43-million,用于资助奥运会和残奥会运动员,目前每人每月约领取 $2,175。 每年约有 1,900 名涵盖 90 多个体育项目的运动员获得 AAP 批准。

胜 负 胜率 分差 印第安纳 17 10 .630 — 亚特兰大 16 10 .615 1/2 纽约 15 12 .556 2 华盛顿 14 12 .538 21/2 多伦多 10 16 .385 61/2 芝加哥 9 18 .333 8 康涅狄格 7 20 .259 10

胜 负 胜率 分差 明尼苏达 22 6 .786 — 金州 19 8 .704 21/2 拉斯维加斯 18 8 .692 3 达拉斯 18 9 .667 31/2 波特兰 11 16 .407 101/2 洛杉矶 10 16 .385 11 凤凰城 10 18 .357 12 西雅图 6 23 .207 161/2 周一 无预定比赛。

周二 时间均为东部时间 康涅狄格在华盛顿,晚上 7:30 多伦多在明尼苏达,晚上 8 点 印第安纳在西雅图,晚上 9:30 纽约在洛杉矶,晚上 10 点 波特兰在拉斯维加斯,晚上 10 点

WNBA 得分榜 全明星赛休息期 场次 投篮 罚球 总分 平均分 A. Wilson, LV 24 224 153 626 26.1 K. Mitchell, Ind 27 219 117 629 23.3 B. Stewart, NY 26 182 162 548 21.1 M. Mabrey, Tor 25 172 98 524 21.0 C. Clark, Ind 23 151 121 483 21.0 P. Bueckers, Dal 25 199 78 522 20.9 K. Copper, Phx 27 184 141 553 20.5 A. Gray, Atl 26 167 118 497 19.1

CEBL 东部会议

场次 胜 负 胜率 分差 x-斯卡堡 22 18 4 .818 — 布兰普顿 21 10 11 .476 71/2 尼亚加拉 22 10 12 .455 8 蒙特利尔 22 9 13 .409 9 渥太华 22 9 13 .409 9

场次 胜 负 胜率 分差 x-温哥华 22 14 8 .636 — x-温尼伯 22 13 9 .591 1 x-萨斯卡通 21 10 11 .476 31/2 x-埃德蒙顿 22 9 13 .409 5 卡尔加里 22 7 15 .318 7 周一 无预定比赛。

周日 埃德蒙顿 100 卡尔加里 89 尼亚加拉 106 渥太华 102 斯卡堡 91 蒙特利尔 87

周二 时间均为东部时间 温哥华在蒙特利尔,晚上 7:30

结果更新至周一, 7 月 27 日,晚上 9:30。

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喷气机队的格伦、海盗队的鲍尔斯和孟加拉虎队的泰勒

位列面临帅位压力之 NFL 教练之列

2026 赛季的慢速起步 可能导致多个市场的 场边帅位迅速更迭

DENNIS WASZAK JR.

几位 NFL 教练正面临巨大的压力——而且这与即将到来的、闷热的训练营酷暑日毫无关系。 距离常规赛开始还有六周多,但一些教练已经面临关于其职位稳定性的质疑。 对于少数几个人来说,例如纽约喷气机队的亚伦·格伦(Aaron Glenn)、坦帕湾的海盗队托德·鲍尔斯(Todd Bowles)和辛辛那提的扎克·泰勒(Zac Taylor),慢速的起步可能会让他们在这些决定胜负之季的早期就处于极其危险的境地。而对于其他一些人,如绿湾的马特·拉弗勒(Matt LaFleur)和费城的尼克·西里安尼(Nick Sirianni),目前虽然没有直接压力,但如果他们的球队未能达到高预期,且球队所有者考虑做出改变特许经营权的决定,情况可能会发生变化。

托德·鲍尔斯,海盗队

在坦帕湾执教的四个赛季中,鲍尔斯在常规赛的战绩为 35-33,并赢得了三次 NFC 南区冠军。但上赛季的崩盘——期间海盗队在最后阶段 2-7,最终以 8-9 的战绩完赛并无缘季后赛——让一些人认为鲍尔斯在球队的时光已经结束。 相反,海盗队选择继续留用他。他可能需要两位数的胜场,四分卫贝克·梅菲尔德(Baker Mayfield)在新协调员扎克·罗宾逊(Zac Robinson)的带领下有所反弹,以及一些季后赛的成功才能留任。海盗队的防守端——鲍尔斯自认为其核心——也必须大幅提升。

戴夫·卡纳莱斯,黑豹队

卡罗来纳队自 2017 赛季以来首次进入季后赛,但是以 8-9 的战绩实现的。黑豹队开局 1-3,随后取得三连胜,然后在接下来的八场比赛中胜负交替,最后两场落败,勉强进入季后赛,随后在外卡赛中被淘汰。 卡纳莱斯在卡罗来纳的头两个赛季战绩为 13-21,该队雇佣他很大程度上是为了将布赖斯·扬(Bryce Young)培养成一名配得上 2023 年选秀状元身份的四分卫。但扬的表现起伏不定。卡纳莱斯将战术调用职责移交给了进攻协调员布拉德·伊兹克(Brad Idzik),而他的工作能否保住可能取决于扬在本赛季能否最终展现出持续的进步。

亚伦·格伦,喷气机队

这位前职业碗(Pro Bowl)角卫以主教练身份重返纽约,带领喷气机队

麋鹿队接球手麦克在战胜骑士队的比赛中迎来“兰迪·莫斯时刻”

DAN RALPH

贾斯汀·麦克(Justin Mack)在周四晚上经历了一个“兰迪·莫斯时刻”。 这位 CFL 资深接球手在埃德蒙顿麋鹿队 36-34 客场战胜萨斯喀彻温骑士队的比赛中,贡献了干净利落的 4 次接球,获得 173 码和 2 个达阵。当麦克在明尼苏达维京人队 46-36 击败达拉斯牛仔队的比赛中仅凭 3 次接球就获得 163 码和 3 个达阵时,他几乎复制了莫斯 1998 年新秀赛季的标志性表现。 “是的,这是一场[梦幻比赛],对任何接球手来说都会如此,”麦克在一次电话采访中说道。“能有这样的产出,绝对是我目前在这里职业生涯中最顶尖的比赛之一。”

皮尔洛因与俄罗斯博彩公司交易引发争议而失去执教意大利队机会

安德鲁·达普 罗马

由于一项与俄罗斯博彩公司的赞助协议引发政治担忧,安德里亚·皮尔洛已不再是意大利队主教练的人选。据报道,关于皮尔洛的这场风波让保罗·马尔蒂尼在就任旨在恢复蓝衣军团秩序的技术总监仅 16 天后,就在考虑辞职。

在此之前,佩普·瓜迪奥拉和卡洛·安切洛蒂已经拒绝了执教这支国家队的机会,该队已连续三届未能进入世界杯正赛。

在四届世界杯冠军意大利队在一次预选赛中被波黑击败四个月后,围绕这支曾经令人自豪的队伍的危机正在扩大到新的维度。

皮尔洛本人在周一的一篇 Instagram 帖子中确认了他已出局,称他“昨晚听说我不再是意大利国家队主教练的候选人了”。

几名意大利政治家对皮尔洛担任 Fonbet 大使的合同表示担忧,称国家队教练在俄罗斯与乌克兰的战争中,对于意大利支持乌克兰的立场不应持有冲突观点。

皮尔洛原计划离开他目前在迪拜联队的教练职务。尽管他在 2006 年意大利最后一次赢得世界杯时曾是表现最出色的球员之一,但在执教尤文图斯和桑普多利亚经历失败后,他成为一个不受欢迎的选择。

皮尔洛表示,Fonbet 的交易与他在阿拉伯联合酋长国的工作有关。

[[IMG_XXXX]] 坦帕湾海盗队主教练托德·鲍尔斯(右)在上个月观看球员训练。尽管在坦帕的四个赛季中赢得了三次 NFC 南区冠军,但如果球队本赛季表现不佳,鲍尔斯的职位可能会受到威胁。克里斯·奥梅拉/美联社

美联社

……回归体面。相反,格伦成为了球队历史上第一个在首秀赛季前七场比赛全部输掉的人,该赛季球队战绩为 3-14,连续第 15 年错过季后赛。

格伦对教练组进行了大换血,聘请弗兰克·赖克负责进攻,并引入布赖安·杜克尔担任防守协调员,但格伦现在将为一支平庸的防守线制定战术,这支防守线成为了首支在整个赛季中没有一次拦截的球队。纽约队通过交易得到了基诺·史密斯,将其作为球队未来四分卫的过渡。

另一个失败的赛季将使喷气机队能够在明年年初选拔一名新球员,但在这种情况下,格伦可能已经不在位了。

马特·拉弗勒,包装工队

等等,他怎么会在这个名单上?拉弗勒在七个赛季中六次进入季后赛,常规赛战绩为 76-40-1,并在 1 月份获得了多年合同续签。

但自 2021 年以来,他仅获得一次季后赛胜利,他在季后赛 3-6 的战绩让一些包装工队的球迷感到不安。常规赛末段四场连败,以及在芝加哥的季后赛首轮出局(期间格林贝在第四节浪费了 15 分的领先优势)对此毫无帮助。

随着包装工队预计在四分卫乔丹·洛夫的带领下再次成为季后赛竞争者,拉弗勒的职位状态可能直到 1 月份才会成为问题。

不过,如果格林贝在季后赛中无法赢得至少一场比赛,情况可能会从温吞变得白热化。

尼克·西里安尼,鹰队

麦克的第一次接球达阵在第三节完成了 57 码,随后他在第四节末段接住科迪·法贾多的一次传球,推进 81 码。尽管如此,埃德蒙顿队 (6-1) 仍需依靠文森特·布兰查德在最后一次进攻时 57 码的踢球才赢得连续第三场胜利,并在西区榜首领先萨斯喀彻温省队 (4-2) 四分。

两队将于周六在英联邦运动会体育场再次交锋。

法贾多完成 25 次传球(32 次尝试),传球码数达到职业生涯最高的 510 码,并贡献 4 次达阵。

身高 6 英尺 1 英寸、体重 208 磅的麦克是加盟埃德蒙顿的首个赛季,并领跑全队接球数据(34 次接球,579 码,5 次达阵)。麋鹿队正寻求自 2019 年以来首次获得季后赛资格。

这位前俄亥俄州立大学白眉星(Buckeye)……

与LaFleur类似,Sirianni的职位似乎没有立即受到威胁。在他的五年任期内,他获得了一次超级碗冠军,两次NFC冠军赛胜利,三次NFC东区冠军,且常规赛战绩为 59-26。

不过,上个赛季在老鹰队在外卡赛主场输给旧金山队后,人们感到非常失望。人们预期球队会迎来一次反弹表现,包括一次稳健的季后赛之旅,即便在新协调员Sean Mannion的进攻体系中,A.J. Brown不再是Jalen Hurts的首选接球手。

在进入 2024 赛季前,Sirianni曾处于危险之境,当时老鹰队以 10-2 开局,但在最后阶段疲软,并在外卡赛中被坦帕湾队大比分击败。随后,他带领费城队获得超级碗冠军。Sirianni和老鹰队——以及他们的球迷——肯定愿意重复这次反弹。

SHANE STEICHEN,小马队

随着小马队以 8-2 开局,Steichen被提及为潜在的AP年度最佳教练。随后,四分卫Daniel Jones因跟腱断裂而赛季报销。

这次前往艾伯塔省的举动让Mack与Fajardo重聚——他们曾帮助蒙特利尔队赢得了 23 年的格雷杯。但这同时也为Mack、他的妻子Joye以及他们的两个小女儿提供了一个舒适的落脚点。

“当我进入自由球员市场时,我是考虑到我的家人的,”Mack说,“我想去一个在乎他们的地方。”

Rankin是本赛季早期的埃德蒙顿进攻催化剂,在前五场比赛中有四场冲球达到 100 码或更多,同时贡献了 26 次接球,共 297 码。

“将这种合作赋予政治意义,意味着将我从未表达过且不属于我的信念强加给我,”Pirlo补充道,“我对意大利的爱不取决于一份工作。它是我的历史,我的身份,并将永远存在。”

在巴西教练Ancelotti和前曼城主帅Guardiola拒绝了Maldini和特别顾问Leonardo的邀请后,Pirlo充其量是第三选择。

但Pirlo比前意大利队教练Roberto Mancini和Antonio Conté等人更受其前AC米兰队友Maldini的青睐,因为他被认为是一个更愿意适应新政策并

“这一切都取决于赛季如何发展,”Mack说,“在早期,你会看到诚实的防区,当我们看到这一点时,Justin每次都会将球带入端区得分,所以我们一定会尝试利用这一点。”

“随着赛季的推进,球队不会希望在这种情况下输球。因此,我们必须能够最大化比赛计划,而你们正看到我们开始这样做。”

对于接球手来说,意识到除了接球之外,还有更多贡献进攻的方式。

“赛季的前两场比赛——”

另一位前米兰球员Gennaro Gattuso在博斯尼亚之战失利后,于 4 月经双方同意卸任意大利队教练。

现在,Mancini和Conté再次被讨论接任该职,而据报道Maldini对Pirlo被拒绝感到不快。

最终决定权在意大利足球协会主席Giovanni Malagò手中,他在领导米兰-科尔蒂纳冬奥会组委会以及此前领导意大利奥委会后,于 6 月当选。

Mancini曾带领意大利队获得 2021 年欧洲冠军杯冠军,随后未能带领“蓝衣军团”进入次年世界杯,之后匆匆离职接管沙特阿拉伯国家队。他在 2024 年离开沙特阿拉伯,最近在Al-Sadd担任教练。

肌腱,而印第安纳波利斯队在连续输掉最后 7 场比赛后——即便在请菲利普·里弗斯(Philip Rivers)出山之后——仍无缘季后赛。不过,老板卡利·厄塞-戈登(Carlie Irsay-Gordon)被球队强劲的前半赛季表现所鼓舞,决定留任主教练。在执教小马队(Colts)的三个赛季中,斯泰肯(Steichen)的战绩为 25-26,而该队在过去五年中均未能进入季后赛。随着琼斯(Jones)康复并签署了一份为期 2 年的续约合同,如果小马队能像上赛季前 10 场比赛那样展现出潜力,斯泰肯的地位将会稳固得多。

扎克·泰勒(ZAC TAYLOR),孟加拉虎队

在泰勒的执教下,孟加拉虎队在 9 月份的开局一直慢得出名,但他们上赛季以 2-0 开局,似乎有望打破这一说法。然而,由于脚趾草坪损伤(turf toe),四分卫乔·伯罗(Joe Burrow)缺席了 9 场比赛,导致辛辛那提队最终以 6-11 的战绩勉强完赛,连续第三个赛季无缘季后赛。一个健康的伯罗对于孟加拉虎队的成功至关重要,毕竟他们在 2021 赛季闯入超级碗的经历已成为遥远的记忆。包括签下防守截锋德克斯特·劳伦斯(Dexter Lawrence)在内的防守线重组应该会有所帮助。因此,在执教辛辛那提队的第八个赛季中,打破季后赛 slump 将取决于泰勒,否则这项任务明年可能将交给其他人完成。

“……那个赛季我们知道自己要采取跑球战术;球场里的每个人都知道,”麦克(Mack)说。“在那两场比赛之后,我完成了两次‘煎饼封堵’(pancake blocks);我当时就在这里努力把对手压扁。” “除了接球之外,还有很多其他方法可以将你的意志强加给对手。” 埃德蒙顿队上一次在常规赛中达到 .500 的胜率是在 2018 年(9-9)。 “这里有一些球员想要在一起比赛,想要共同努力,”麦克说。“我知道文化和认同感是你在建设一个获胜组织时试图构建的重要组成部分,而这正是我们今年所拥有的。”

加拿大新闻社(THE CANADIAN PRESS)

在卡塔尔。 孔特(Conté)曾率领意大利队进入 2016 年欧洲杯四强,最近执教于那不勒斯。 另一个选项可能是前国际米兰教练西蒙尼·因扎吉(Simone Inzaghi),他目前在沙特联赛执教。 无论最终雇佣谁,都将成为意大利队四年内的第四任教练。 去年,当卢恰诺·斯帕莱蒂(Luciano Spalletti)在意大利队首场预选赛输给挪威后被解雇时,克劳迪奥·拉涅里(Claudio Ranieri)拒绝了接替他的邀请,最终雇佣了经验匮乏得多的加图索(Gattuso)。 意大利队接下来的比赛在 9 月和 10 月,届时将在欧国联中面对比利时、土耳其和 法国。

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Katzberg 为加拿大赢得锤击金牌;体操运动员共获六枚奖牌

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Lia-Monica Fontaine, Jordan Carroll 和 Félix Dolci 均在体操项目中摘金

锤击冠军 Ethan Katzberg 在周一的英联邦运动会(Commonwealth Games)大捷之日,为自己的荣誉簿再次增添了一项重要冠军,而加拿大体操运动员则共斩获六枚奖牌。

Katzberg 是两届世界冠军及 2024 巴黎奥运会金牌得主,他在 Scotstoun 体育场首次尝试中便以 80.97 米的运动会纪录赢得了男子锤击冠军。

这位来自不列颠哥伦比亚省纳奈莫(Nanaimo, B.C.)的 24 岁选手,在 2022 年获得英联邦运动会银牌后,此次在领奖台上更进一步。来自不列颠哥伦比亚省奇利威克(Chilliwack, B.C.)的 Rowan Hamilton 以 75.36, 获得铜牌,排在塞浦路斯的 Iosif Kesidis (76.97) 之后。

周一早些时候,Lia-Monica Fontaine, Jordan Carroll 和 Félix Dolci 在体操项目中摘得金牌。

Fontaine 在女子跳马项目中获得 14.000 分,击败了英格兰的 Abigail Martin (13.799) 和威尔士的 Abigail Roper (13.433)。这位来自魁北克省萨勒贝里-德-瓦利菲尔德(Salaberry-de-Valleyfield, Que.)的 16 岁选手在全能决赛中获得铜牌,并帮助加拿大在女子团体赛中获得银牌后,赢得了本届运动会的第三枚奖牌。

“能代表加拿大参赛我非常开心,能赢得三枚奖牌简直不可思议,”她说道。

来自萨斯卡通的 20 岁选手 Carroll 赢得了男子鞍马

Tempo 在全明星赛休息期后处于困境,力争进入季后赛

JOHN CHIDLEY-HILL

多伦多 Tempo 队将于周二晚上在明尼阿波利斯,对阵联赛领先的明尼苏达山 Lynx 队,从而恢复赛季征程。

以下是关于 Tempo 队在 WNBA 全明星赛休息期回归后您需要了解的信息。

MABREY 成为 TEMPO 核心

得分后卫 Marina Mabrey 是 Tempo 队首个赛季的突破性之星。她今年的场均得分为 21 分,3.6 次助攻和 3.4 个篮板。她场均 3.3 个三分球是 WNBA 中最高的。在周六的 WNBA 全明星赛中,她为 Team Coop 贡献了 23 分(包括三分线外 12 投 5 中),但球队以 129-122 负于 Team Spoon。

伤病问题严重

在 Tempo 队首个赛季中,多伦多的首发阵容尚未在同一场比赛中共同出战。首发后卫 Brittney Sykes(左足底筋膜炎)自此前起一直缺阵

勇者队经理魏斯将阵容频繁变动归咎于投手人数限制

NOAH TRISTER

亚特兰大勇者队从小联盟征召了右投手埃利泽·赫尔南德斯(Elieser Hernández),几天后,他终于在 2024 年以来首次出现在大联盟比赛中。 在巴尔的摩的一场比赛中,他作为救援投手投了三局且未失分并赢得胜利,随后立即被指定转让(DFA)。 “说实话,我讨厌这样,”勇者队经理沃尔特·魏斯(Walt Weiss)表示。“我希望规则能有所不同。” 亚特兰大队的这种做法在现在相当普遍。如果一名投手在救援中投了数局——即使表现出色——在接下来的几天里保留他基本上是在浪费一个名单名额。因此,会引入一名状态更佳的投手来接替他。 棒球工会正就此类阵容变动提出规则修改建议。球员们希望,在完成至少九个出局数或 50 次投球的比赛后不久被下放到小联盟的投手,在出场后的四天内仍能获得大联盟的薪水和服役时间。工会还建议将每赛季最多五次下放到小联盟的次数减少到三次。 这不一定会帮到赫尔南德斯,因为他是被指定转让,而非被下放。 魏斯没有提到下放规则,而是将矛头指向了名单中 13 位投手的限制。 “我希望投手的数量不受限制,”魏斯周六说道。“我认为如果你能在这里或那里多带一名投手,你就不必做这些事情——不必 DFA 一个昨晚比赛的英雄。我们希望能够奖励这些人,而不是 DFA 他们。”

加拿大 莉亚-莫尼卡·丰泰因(Lia-Monica Fontaine)在女子跳马项目中获得 14.000 分,击败了英格兰的艾比盖尔·马丁(Abigail Martin,13.799 分)和威尔士的艾比盖尔·罗珀(Abigail Roper,13.433 分)。 MATTHEW CHILDS/REUTERS

6月16日,且目前没有明确的复出时间表。主教练桑迪·布隆德洛(Sandy Brondello)周日对前锋基基·赖斯(Kiki Rice,脚踝扭伤)的表现更为乐观,后者自6月 3. 日起缺阵。赖斯在周一早上参加了完整的训练,并在周二明尼苏达州的比赛中被列为有出战疑问。

与时间赛跑

Tempo 队(10-16)目前在联盟排名第 10,赛季还剩 18 场比赛。多伦多队在争夺最后一个季后赛名额的竞争中落后于第八名的华盛顿神秘人队(14-12)。Tempo 队在 WNBA 中面临的赛程难度排名第二,对手的平均胜率为 .552。这包括与联盟前两名球队(明尼苏达队和金州女武神队)的四场对决。

迁至苏格兰银行体育馆

苏格兰银行体育馆将举办 Tempo 队的接下来的两场主场比赛,第一场是周四对阵山 Lynx 队,另一场在 8月 18, 日,届时凯特琳·克拉克(Caitlin Clark)和印第安纳狂热队将到访。该场馆比多伦多通常的主场场地可口可乐竞技场多出近 12,000 个座位。

知识问答时间

密尔沃基酿造者队的雅各布·米西奥罗夫斯基(Jacob Misiorowski)在周日对阵科罗拉多队的比赛中,让面对的前七名击球手全部三振——且在首 13 次面对中完成了 12 次三振。他今年的三振数已达到 185 个,每九局平均三振 13.88 次。 单赛季每九局三振数的记录(最低要求 100 局)是 13.82。谁持有此记录?

本周表现

迪伦·西斯(Dylan Cease)在多伦多 6 - 0 击败波士顿的周六比赛中投出了一场一安打比赛。他是自 2010 年布兰登·莫罗(Brandon Morrow)以来,第一位投出一场一安打完封赛的多伦多投手。 西斯在两年前投出过一场无安打比赛,但当时他在圣地亚哥。 本月早些时候,他在旧金山的比赛中将无安打状态维持到了第九局,但在被破纪录后被撤换。

卡罗尔以 15.000 的分数获得鞍马冠军,险胜苏格兰的鲁本·沃德(Reuben Ward,14.966 分)和卡梅隆·林恩(Cameron Lynn,13.833 分)。 “突破 15 分一直我的目标,很高兴我终于做到了,”卡罗尔(Carroll)说。“我完成了人生中最完美的动作,我对结果感到满意,现在感觉很棒。” 多尔西(Dolci)在男子吊环决赛中夺金,为他在本届运动会上赢得了第三枚奖牌。

Tempo 队在 Scotiabank Arena(猛龙队和枫叶队的主场)的首场比赛是在 6 月 27 日,在 15,687 名球迷面前以 89-80 负于凤凰城水星队。

教练回归

在周二的比赛中,布隆德洛(Brondello)将回到 Tempo 队的教练席。此前,他因将亚特兰大梦想队前锋安吉尔·里斯(Angel Reese)称为“受保护物种”而被禁赛一场。在里斯造成多伦多球员尼亚拉·萨巴利(Nyara Sabally)犯规后,这段话被转播捕捉到,随即引发了批评。

布隆德洛曾是一名球员,曾赢得两次 WNBA 冠军,他是澳大利亚人。“受保护物种”这一短语在澳大利亚体育中被用来表达对裁判不给某位球员吹罚的沮丧。然而,在美国,这个短语暗示对方不是人类,可能会被视为是对黑人的贬低。布隆德洛在次日道歉,里斯接受了道歉,并表示她赞赏联盟的迅速行动。

加拿大通讯社(THE CANADIAN PRESS),结合美联社(The Associated Press)的文件

加拿大通讯社(THE CANADIAN PRESS)

在周五晚上的第六局上半,比分在 5-0 之前,随后击出了 8 分。最终,太空人队以 9-5 获胜。 克里斯蒂安·沃克(Christian Walker)击出了一支三分二垒安打,将比分变为 5-4,一个出局数后,卡姆·史密斯(Cam Smith)击出了一支两分本垒打,使休斯顿队取得领先并保持到结束。

本周之队

(此荣誉授予过去七天记录最佳的球队,必要时以得分差作为平分决胜项。虽然样本量很小,但这基本上就是赢得一个季后赛系列赛所需的时间。) 坦帕湾光芒队在上周取得了 6-1 的战绩,目前仍顶住纽约洋基队的压力,占据美东之首。光芒队领先三个赛局。 坦帕湾在多伦多赢得了四场比赛中的三场,随后在克利夫兰完成了三连胜横扫,并在最后两场比赛中让守护者队完封。 光芒队极有可能在 2023. 年以来首次以某种形式进入季后赛。现在的问题是,他们是否能达成一项截止日交易,帮助他们熬过洋基队和势头强劲的红袜队,从而夺得分区冠军并获得首轮轮空资格。

这位 24 岁的运动员得分为 13.766,险胜同样来自魁北克省拉瓦尔的威廉·埃马德(William Émard,13.600),加拿大队在领奖台上占据一、二名。澳大利亚的詹姆斯·哈迪(James Hardy)以 13.500 获得铜牌。 多尔西(Dolci)在全能决赛中因在鞍马上两次跌落而仅获银牌,此次实现了自我救赎。随后,他在单项自由操中再次失误,与领奖台擦肩而过。

“我生命中失败过很多次,没停过。我在训练中每天都在失败。这是我习惯的事情,”他说。“无论你是成功还是失败,下次参加项目时,目标是每一次都做得更好。” 来自哈利法克斯的加拿大资深运动员埃莉·布莱克(Ellie Black)在女子高低杠项目中获得银牌,就在此前一天,她赢得了职业生涯第二个英联邦运动会全能冠军。来自魁北克省雷彭蒂尼的伦·库尔诺耶(Ren Cournoyer)也在男子自由操项目中获得银牌。 为期 5 天的体操比赛将于周二在格拉斯哥国际竞技场结束。 在举重项目中,来自魁北克省普莱西斯维尔的安-索菲·塔舍罗(Ann-Sophie Taschereau)在女子 58 公斤级中摘银,而来自魁北克省圣布鲁诺-德-蒙塔尔维尔的丽贝卡·格鲁尔克斯(Rebeka Groulx)在女子 53kg 项目中获得铜牌。 加拿大在残疾人田径项目中增加了两枚奖牌。 来自维多利亚的迈克尔·巴伯(Michael Barber)在男子 1,500 米 T20 决赛中以 4:01.84 的成绩获得第二名,来自安大略省马卡姆的扎卡里·金格拉斯(Zachary Gingras)在男子 100 T38 决赛中以 11.55 秒的个人最好成绩获得铜牌。 加拿大目前拥有 21 枚奖牌——7 枚金牌、8 枚银牌、6 枚铜牌——排名第三,落后于澳大利亚和英格兰。 在其他结果中,加拿大男女轮椅篮球队在小组赛中均负于澳大利亚,战绩变为 1-2。 加拿大男队以 20-12 负于卫冕冠军澳大利亚队,随后女队在加时赛中以 12-10 落败。

毛绒龙在蓝鸟队

全垒打庆祝活动中出现后 被抢购一空

TARA DESCHAMPS 多伦多

多年来,Simply Wonderful Toys 商店一直销售一款带杆的红色毛绒龙。这款玩具的口中可以喷出发光的火焰,并能发出威严的吼声,每年有少量顾客购买,是一款稳定的商品。但在 7 月初,这家位于安大略省格尔夫的商店以及许多其他加拿大的玩具店,其库存的毛绒龙在一夜之间被抢购一空。推动这一意外需求激增的是一个意想不到的来源:多伦多蓝鸟队。这支大联盟棒球队在 7 月 7. 庆祝左外野手 Jonatan Clase 对阵旧金山队时击出的三分全垒打,庆祝方式正是使用这只红色毛绒龙。到第二天早上,销售该玩具的商店已被洗劫一空。Simply Wonderful Toys 的助理经理 Keeley Cea 表示,店内仅剩的几只在凌晨时分就被买走了。“我们当时完全不知道发生了什么,”她说。“然后我们看到了比赛视频,意识到那就是我们销售了多年的那款龙,这让我们感到很震惊。”该店已向总部位于马萨诸塞州的制造商 Schylling 请求补货,该公司未立即回应关于该龙近期走红的置评请求。Cea 表示,当补货到达时,Simply Wonderful Toys 已经有一份想要购买的候补名单。其中一些人来自当地的棒球队,希望用自己的毛绒龙来庆祝。终身蓝鸟队球迷 Adira Winegust 在看到 Clase 使用该龙后立即开始寻找。“我想,天呐,我现在必须买到它,”这位来自金斯顿的三个孩子的母亲回忆道。“当地只有一家独立玩具店,但那里已经卖完了,不过经过一番搜寻,我发现渥太华的一家店还有货。”Winegust 的小孩子现在在家里玩这只龙,而她 8 岁的长子 Emmett Glatt 则把它借给自己的棒球队。他们的母亲买得很及时。大多数在线零售商的网站显示已完全售罄,而二手交易平台上仅有的几件售价高达 $200。多伦多的 Toy Town 是少数仍有该龙库存的地方之一。店主 Shari Bricks 表示,在蓝鸟队首次亮相该玩具后,她店里仅有的几只龙就被卖光了。最近虽然补了货,但只剩下 6 只。“情况稍微平息了一些,但当人们在店里看到它们时会发表评论,如果他们知道有亲人会喜欢,他们就会买下来,”Bricks 说道。

第 31 页

B

103, 岁奥马哈男子

每天出现在当地高尔夫球场

Bob Walls 在退休后开始学习高尔夫,

并将其视为一种生活方式, 即便他已成为一名百岁老人

ERIC OLSON 内布拉斯加州奥马哈

上周,Bob Walls 正在他的主场球场准备在第一洞开球时,他的同伴们打断了他的赛前准备动作。 “回来这里,伙计,”James King 说道。 “我们今天打的是蓝调,”Dawn Dozier 补充道。 Walls 不买账。 “当你超过 100 岁时,你可以随心所欲地在任何地方击球,”他告诉他们。 随后,他从前方的白色发球区以一次流畅的挥杆,将球击向球道右侧,恰好落在 180 码球洞的果岭前。 对于一个 103 岁的人来说,这并不糟糕。事实上,相当不可思议。 国家高尔夫基金会(National Golf Foundation)本月报告称,2025 年有创纪录的 630 万 (6.3 million) 名 65 岁及以上美国人参与高尔夫运动。NGF 并不追踪百岁老人的数量,但毫无疑问,能像 Walls 这样打得好且频率如此之高的人寥寥无几,甚至可能根本没有。 Walls 身体健康,身材匀称,看起来年轻了 30 岁。他经历过一次心脏病发作,做过多次心脏手术,并克服了一次短暂性脑缺血发作(小中风)。他将自己的长寿归功于良好的基因——他的父母 both-of-his-parents 都活到了 90 岁后期——以及保持活跃。 至于他是一个“自然奇迹”的说法,他并不在意。 “我不觉得自己 103 岁,我的行为也不像 103 岁,”他说。“对我来说,这没什么大不了的。” Walls 1923 年出生于堪萨斯州的 St. Marys,在第二次世界大战服役后,于 1947 年搬到奥马哈。在他的大部分职业生涯中,他经营着一家清洁服务公司。 他在 74 岁时退休,在朋友们的鼓励下开始学习高尔夫。内布拉斯加州第一位黑人 PGA 职业选手 Steve Hogan 在当时的 Miller Park 教 Walls 打球。两人成为了挚友,Walls 始终铭记 Hogan 的精神。

萨巴伦卡与德约科维奇领衔美网混双锦标赛参赛名单

布莱恩·马霍尼 纽约

排名第一的阿丽娜·萨巴伦卡和 24 次大满贯冠军诺瓦克·德约科维奇,领衔了美网混双锦标赛首批 16 支参赛队伍名单。

该赛事在去年进行了改革,冠军奖金高达 $1 百万美元,旨在吸引顶级单打选手参赛。在周一由美国网球协会公布的参赛队伍中,出现了许多此类球星。

2025, 年的亚军伊加·斯瓦亚特克和卡斯珀·鲁德再次参赛,此外还包括埃琳娜·里巴金娜和泰勒·弗里茨,日本组合大坂直美和西锦刚,以及杰西卡·佩古拉和杰克·德雷珀。

正赛将于 8 月 25-26, 日两天内进行,所有比赛将在美网最大的两个场馆——亚瑟·阿什球场和路易斯·阿姆斯特朗球场举行,并通过 ESPN 旗下的平台转播。

队伍报名截止日期为 8 月 17, 日,届时单打综合排名最高的六对组合将自动进入正赛。这意味着,两届卫冕美网女单冠军萨巴伦卡,以及 39 岁且在男子巡回赛中仍排名第 5 位的德约科维奇,将稳稳地进入参赛名单。

美国网球协会(USTA)将提供 8 张外卡,另有两支队伍将通过 8 月 24 日举行的资格赛进入正赛。

截至周一报名的其余队伍包括:米拉·安德烈耶娃和安德烈·鲁布列夫;贝琳达·本西奇和弗拉维奥·科波利;迪亚娜·施耐德和达尼尔·梅德韦杰夫;阿曼达·阿尼西莫娃和莱纳·田;亚历克斯·埃拉和加拿大的费利克斯·奥热-阿里亚西姆;加拿大的雷拉·费尔南德斯和弗朗西斯·蒂亚福;泰勒·汤森德和亚历山大·兹维列夫;埃琳娜-加布里埃拉·鲁塞和努诺·博尔赫斯;萨拉·埃拉尼和安德烈亚·瓦瓦索里;卡特琳娜·西尼亚科娃和亨利·帕滕,以及兄弟

[[IMG_XXXX]] 103 岁的高尔夫球手鲍勃·沃尔斯周五在内布拉斯加州奥马哈的史蒂夫·霍根高尔夫球场在第三洞开球。埃里克·奥尔森/美联社

通过在一周七天内于该球场担任志愿者,该球场在 2008 年他去世后被重新命名为史蒂夫·霍根高尔夫球场。

沃尔斯每天花五或六个小时驾驶他的敞篷球车四处行驶,乘客位上放着一桶种子和沙子的混合物。他填补草皮凹坑、修复球印、捡拾垃圾,并用球杆检索器将其他球员误入潟湖的球捞出。

他的高尔夫球包总是绑在球车后面,因为他不知道什么时候会突然兴起停下来打一个洞,或者练习一下球技。

在会所外面,放着几个沃尔斯制作的训练装置,旨在帮助年轻球员感受高尔夫挥杆的弧度。他曾在 First Tee 计划中指导孩子,并以每小时 $50 的价格为成年人授课。球场每年举办一次名为“鲍勃·沃尔斯邀请赛”的比赛,为社区儿童筹集设备资金。

每天从球场回家后,他经常使用 iPad 观看数小时的训练视频。

“当我去参加他 101 岁生日时,我还没进门,他对我说的第一件事就是他正在全面分析自己的比赛,改变这个,调整那个,”多齐尔说。“他一直在钻研自己的球技。”

沃尔斯的球技依然精湛。他经常打出

费尔南德斯击败利内特,晋级华盛顿公开赛第二轮

加拿大的莱拉·费尔南德斯在周一的华盛顿特区公开赛(D.C. Open)首轮比赛中获胜,开启了她的冠军卫冕之旅。

作为本次赛事的7号种子,费尔南德斯以 6-1, 6-4 击败了波兰选手马格达·利内特,用时 1 小时 19 分钟。

这位来自魁北克省拉瓦尔的 23 岁选手在去年的 WTA 500 硬地赛事中夺冠,那是她职业生涯中规模最大的赛事胜利。

“确实有些紧张,有一点压力,因为你是卫冕冠军,”她在击败利内特后表示。“你无法真正摆脱‘卫冕冠军’这个词,因为它无处不在。你在体育馆里看到自己的名字和 [2025 ATP 冠军] 亚历克斯·德米纳尔在一起,所以就像无法逃避一样。”

费尔南德斯的世界排名第 34 位,但今年在寻找节奏方面较为吃力,单打战绩为 13-19。

斯特恩斯和普雷斯顿·斯特恩斯。埃拉尼和瓦瓦索里是两届美国公开赛卫冕冠军。这两位意大利选手在去年的赛事中需要凭借外卡才能进入,因为他们的单打排名太低,今年情况将同样如此。

美国公开赛去年最初受到批评,因为赛制将埃拉尼和瓦瓦索里等双打专家排除在外,但该赛事显然取得了成功,吸引了 78,000 名球迷来到场地,且两天的阿什球场门票全部售罄。

“任何时候,只要能将男女选手聚集在同一个团队中,就能展示网球最美好的一面。这正是混合双打锦标赛的意义所在,”美国网球协会(USTA)首席执行官克雷格·泰利在一份声明中说道。

“混合双打锦标赛是一项创新……”

在 3 洞 帕三(par-three)的霍根球场上,[成绩] 保持在 30 杆出头的低分。事实上,前几天他以 31 杆赢得了一场对阵球场经理迈克·赖斯的比赛。

“我第一次击败他——而且我并不经常击败他——当时我必须打进一个一杆进洞才能做到,”赖斯说。“谁能想到一位 103 岁的绅士能够每天稳定地将球击出 180 码,并且拥有足够的精力和体力来完成这件事?”

沃尔斯在凤凰城度过秋冬季,在那里他每天也会在球场或练习场上活动。

“早晨醒来时,高尔夫是我首先想到的事情,”他说。

他非常在意自己的站姿、挥杆平面以及收杆时肩膀指向的方向。最近,他一直在练习让自己的高抛球杆(lob wedge)更加稳定,这样就不用如此依赖沙坑杆。

“他会直接击中中心,下一杆就会落在果岭上,”金说。“他不会做任何伤害自己的动作。轻盈且简单。这就是我热爱他球技的地方。而且他非常勤奋。他每天都会击几球,我知道他会,因为我几乎每天都在这里。我喜欢和他一起打球。我认为他是独一无二的。”

美联社(THE ASSOCIATED PRESS)

周一,她击出了两个 Ace 球,并在 9 次破发机会中成功把握住 5 次。与此同时,利内特在 3 次机会中仅把握住 1 次。

“当赛季开始时进展不顺时,这很艰难,”费尔南德斯在赛前表示。“但我尝试一天天地面对,享受这个过程、艰苦的努力、在球场上的时光,试图在事物中寻找积极的一面。”

“我肯定会回想那些记忆,那些感受,积极的情绪,以及观众带来的战斗精神和能量。所以我尝试利用这一点来转化为我的优势,尝试回到那种状态,希望我在这里能重现那样的情况。”

费尔南德斯将在 16 强赛中面对周二菲律宾选手亚历山德拉·埃拉(Alexandra Eala)与郑钦文之间比赛的获胜者。

加拿大新闻社(THE CANADIAN PRESS)

将吸引新的观众,并给我们的粉丝提供另一个机会,观看最顶尖的球星共同竞争。”

埃拉尼(Errani)和瓦瓦索里(Vavassori)是去年锦标赛中唯一的传统双打组合。今年可能会有更多这样的组合——西尼亚科娃(Siniakova)和帕滕(Patten)都是双打专家——此外还增加了由 8 支球队参加的资格赛,其中将包括 6 个直接参赛名额和 2 个外卡名额。

在半决赛之前,赛制将采用三盘两胜制,每盘 4 局,在 4-4 平时进行抢分,并用 10 分决胜分局代替第三盘。决赛将采用标准计分制,每盘 6 局,在 6-6 平时进行抢分,必要时则采用 10 分决胜分局。

出生与死亡通知

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死亡通知

LLOYD DAVID LAVINE

Lloyd David Lavine,1933, 1月 11日出生于安大略省多伦多,于 2026 年 7 月 23 日平静离世。

早于他离世的包括其父母 Lillian 和 Maurice Lavine;其子 Joel;以及他的第二任妻子 Julia。

Lloyd 在多伦多长大,就读于 Forest Hill Collegiate,并在那里结识了 Tema Bernstein,两人共同抚养了三个孩子。Lloyd 毕业于多伦多大学,获商学学士学位,并成为一名成功的特许会计师。在职业生涯早期,他从事投资和抵押业务,担任管理合伙人,并热衷于他亲切地称之为“纵横捭阖 (wheeling and dealing)”的活动,以增强客户的投资组合。在最后的职场生涯中,Lloyd 是 Price Waterhouse 的合伙人,并在此获得了特许会计师会士 (FCA) 资格。

Lloyd 的遗属包括他的女儿们 Mona (Rocco) 和 Susan (Bruce);他的兄弟 Alan (Carol);以及他极其自豪的四个心爱的孙辈:Drew (Rebecca)、Morgan (Jane)、Griffin (Deryn) 和 Madison。在他们心中,他被亲切地称为“ZAidie”,是一位充满爱心且慷慨的父亲和祖父。

家属向 Lloyd 忠实的护理人员 Clarita Egar, Florence Soliven 和 Ryan Egar 表达衷心的感谢,感谢他们的细心照顾。

服务将于 8 月 2 日(周日)上午 10:00 在 Benjamin’s Park Memorial Chapel 举行,地址为 2401 Steeles Avenue West(Dufferin 往西 3 个红绿灯处)。随后将在 Holy Blossom Memorial Park 举行安葬仪式。

纪念捐款可赠予您选择的任何慈善机构。

殡葬服务

周二 FELDMAN, Brian - 10:00 礼拜堂。

周三 SMITH, Jerry - 2:00 礼拜堂。

周日 LAVINE, Lloyd - 10:00 礼拜堂。

SHIVA(犹太哀悼期) HENDLER, Judy - 68 Yorkville Avenue。 BABINS, Pearl - 7905 Bayview Avenue #308, Thornhill。 REICHERT, Saul - 1001-181 Davenport Road。

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回忆

ROBERT EDWIN WIFFEN 1934 – 2026

在即将迎来 92 岁生日之际,在挚爱之妻 Amy 的牵手陪伴下,Bob 于 2026 年 7 月 23 日,星期四,在滑铁卢临终关怀中心(Waterloo Hospice)平静离世。Bob 的故事,最重要的是一个爱情故事。他与 Amy 于 1949 年在东约克高中(East York High School)相识,开启了辉煌的 77 年伙伴关系和 69 年的婚姻生活。他们共同地成为了团结、奉献和相互尊重的完美典范。他是 David (Marci)、Ward 和 Diana (Bob) 心中一位令他们自豪且深受爱戴的父亲;也是 Zack 心中一位被珍视的祖父。Bob 出生于多伦多,父母为 Edwin 和 Amy Wiffen,随后他在 IBM 建立了长达 40 年且充实的一生职业生涯。他为自己的工作感到非常自豪,并且年复一年地因其卓越的奉献精神而获得认可,始终获得公司内部的最高绩效荣誉。1973 年,他的事业带领家人搬到了滑铁卢,在那里,他与 Amy 很快就融入了一个美好的邻居和朋友圈。最初的结识演变成了跨越五个多年代的深厚终身友谊。Bob 天生受欢迎,他以格外善良的心、敏捷的智能和出色的幽默感吸引着人们。他真正地影响了每一个遇到他的人,并深信要为自己的社区贡献力量。无论是作为理发店四重唱(barbershop quartet)的男低音演唱,在社区司法倡议(Community Justice Initiative)董事会任职,在第三年龄学习(Third Age Learning)担任志愿者,还是协助管理他的公寓委员会,Bob 都慷慨地奉献自己的时间。他的生活充满了他热爱的事物:在当地俱乐部打网球,通过摄影捕捉世界,弹吉他,听音乐以及旅行。Bob 先于其父母 Edwin 和 Amy;兄弟姐妹 Barbara, Lewis (Laura) 和 Joan;Amy 的父母 Hikoemon 和 Masue;她的兄弟姐妹 Takako (Tats), Jimmy (Yaye), Keigi (Barbara) 和 Aki;以及 Esther 的丈夫 Tom 离世。Barbara 的丈夫 Uwe,Aki 的妻子 June,Amy 的姐妹 Esther,以及庞大且充满爱的大家庭和无数朋友将深切地怀念他。我们全家向 St. Mary's 医院、Grand River 医院以及滑铁卢地区临终关怀中心(Hospice of Waterloo Region)那些令人难以置信且富有同情心的团队表达由衷的感谢,感谢他们在 Bob 最后的日子里给予如此精心的照顾。

我们恳请 以捐款代替献花, 以 Bob 的名义捐赠给 滑铁卢地区临终关怀中心(Hospice of Waterloo Region)、 滑铁卢区域健康网络(WRHN)、 Momiji 医疗护理协会或 KW 交响乐团, 捐赠可通过殡仪馆电话 519-745-8445 或 网址 www.erbgood.com 办理。

关于 Bob 精彩一生的庆祝活动详情将在接下来的几周内公布。

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第 32 页

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小说家,83 岁 作家利用推理小说 写作来触发变革

作家盖尔·鲍文(Gail Bowen)在职业生涯中获得了众多赞誉。她在 2018 年赢得了加拿大犯罪作家协会大宗师奖(Crime Writers of Canada Grand Master Award),并于同年被授予萨斯喀彻温省最高荣誉——萨斯喀彻温省功绩勋章。ROY ANTAL/THE CANADIAN PRESS

MATTHEW FRANK

里贾纳(Regina)的那起谋杀案并没有什么谜团,但犯罪小说家盖尔·鲍文无法摆脱该案件对其作品的影响。1983, 乔安·威尔逊(JoAnn Wilson)被发现死在她的车库中——那里离鲍文女士的家仅几个街区之遥。当时,她的前夫科林·萨彻(Colin Thatcher),身为萨斯喀彻温省议会议员,在威尔逊女士试图申请离婚时雇人将其杀害。一年后,萨彻先生被判定犯有一级谋杀罪,并被判处终身监禁。鲍文女士一直被这个关于一名女性试图摆脱虐待伴侣的故事所困扰,并在随后的多年里经常谈论此事,因为她经常开车或步行经过那个车库。这种感受激发了她对创作推理小说的追求。她在 23 部系列丛书的主角——侦探政治学教授乔安·基尔伯恩(Joanne Kilbourn)的名字中,采用了威尔逊女士的名字。这位 83 岁且屡获殊荣的作家于 6 月 25. 因癌症去世。鲍文女士

传奇的职业生涯提升了萨斯喀彻温省的知名度,将该省确立为犯罪小说中极具吸引力的背景设置。鲍文女士 1942 年出生于多伦多。她说她是通过观察该市前景公墓(Prospect Cemetery)的墓碑学会阅读的。她在多伦多大学就读,并于 1964, 获得文学学士学位,随后于 1975. 从滑铁卢大学获得文学硕士学位。她在萨斯喀彻温大学进行研究生研究,并在 1979, 毕业后,鲍文女士在里贾纳大学、萨斯喀彻温大学、萨斯喀彻温原住民文化学院以及萨斯喀彻温原住民联合学院(现称为加拿大原住民大学)任教。鲍文女士成为了该机构的副教授并领导其英语系。她的处女作是 1987 年的一部名为《1919:乔治与阿德莱德的情书》(1919: The Love Letters of George and Adelaide)的中篇小说,讲述的是第一次世界大战期间发送的虚构信件。但随着她教导学生并吸收社区的细节,鲍文女士涉足犯罪小说领域,并写下了众多乔安·基尔伯恩系列小说中的第一部。

她的传奇职业生涯提升了萨斯喀彻温省的知名度,因为她将大草原地区的地域特色融入作品中,并利用她的文学技巧来对抗社会不公。

1990, 出版的《致命外表》(Deadly Appearances)描述了一名萨斯喀彻温省政治家在讲台上演讲时突然死亡的可疑事件。他的演讲撰稿人,中年女性乔安·基尔伯恩,在这次“谁是凶手”的谜团中被推向了揭露真凶的境地。鲍文女士的写作带有家乡的回响。她邻居的一座过街天桥经常出现在她的小说中。其中一本书的背景设定在萨斯卡通(Saskatoon)之前的门德尔美术馆(Mendel Art Gallery)。在她的所有书籍中,大草原城市那种相互连接的小镇氛围在她的角色身上得到了体现。鲍文女士对不公正现象深感愤慨,并对权力结构持批判态度,为她的小说严谨地研究种族主义、家庭暴力和性别不平等。她利用推理小说的媒介来提高人们对社会问题的认识,希望人们在产生关注后,变革就会发生。剧作家兼退休 CBC 制作人凯利·乔·伯克(Kelley Jo Burke),一位

邻居兼好友地记得鲍文女士的家人是她平衡家庭生活、工作与写作时的精神支柱。伯克女士表示,她热衷于揭露潜伏在社区中的残酷真相。“盖尔看到了那个看起来美好友好、拥有绿色草坪和整洁花园的世界可以多么残酷,她将这种焦虑转化为创作这些书籍的巨大能量,”她说。鲍文女士获得了众多荣誉。她在 2018. 赢得了加拿大犯罪作家大奖(Crime Writers of Canada Grand Master Award)。同年,她还被授予萨斯喀彻温省最高荣誉——萨斯喀彻温功绩勋章。她的小说已被翻译成六种语言并在国际上广泛发行。

这位作者经常反驳人们关于她的生活与她笔下的侦探女主角之间存在平行关系的暗示。在 2000 的一篇《环球邮报》人物简介中,她说:“我告诫我的学生们不要把我与她混淆。”但在虚构与现实中,两人都是学者、母亲,都害怕飞行,并且都有一个名叫 Madeleine 的孙女。

从 2000 开始,鲍文女士的前六部小说被改编为电视剧并在加拿大电视台播出,鲍文女士当时对此态度矛盾。在称这些改编作品“非常赚钱且非常令人愉悦”的同时,她对背景从里贾纳迁至安大略省,以及电视电影中缺乏原住民代表性表示不满。她当时告诉《环球邮报》,她“仍在努力争取”在系列剧中加入原住民角色。“我在原住民群体中工作了 25 年,”她说。“我在(书中)将他们描绘成普通人,警察、护士、商人。那是你在媒体上永远看不到的面孔。”

尽管有这些顾虑,她仍然鼓励其他作者尝试电视改编,包括《默多克谜案》的作者莫琳·詹宁斯(Maureen Jennings)。这两位作家是在加拿大犯罪作家协会(Crime Writers of Canada,一个该类型作家的专业协会)作为会员时结识的。当詹宁斯女士的小说在商讨潜在的荧幕改编协议时,她向鲍文女士寻求建议,并将《默多克谜案》剧集免于夭折之功归功于她。鲍文女士敦促詹宁斯女士致电制作公司并接受协议。那通电话引发了连锁反应,促成了这部长寿的 CBC 犯罪剧的诞生,该剧今年迎来了连续 19 季。

“她非常支持其他作家。绝对是这样,她的声音非常有影响力。她如此关切,不希望我失去这个机会,”詹宁斯女士说。她认为鲍文女士的作品对于改变人们对加拿大犯罪文学的看法至关重要,此前许多人将其视为文学的“穷亲戚”。詹宁斯女士表示,鲍文女士经常主张该类型的作者应因其作品而获得更多的尊重。

对于尝试该类型的后起之秀,鲍文女士总是慷慨地投入时间,愿意停下来参与交谈。她热爱与人们及其社区建立联系,而她的书就是实现这一目标的载体。她曾先后在多伦多参考图书馆(Toronto Reference Library)、卡尔加里纪念公园图书馆(Calgary’s Memorial Park Library)和里贾纳公共图书馆担任驻校作家。寻求她指导的作者之一是犯罪作家安东尼·比杜尔卡(Anthony Bidulka),他的故事同样聚焦于萨斯喀彻温省。

他说,波文女士让他将故乡省份作为写作素材的不可能之梦成为了现实,因为她的作品证明了萨斯喀彻温省的人也可以将小说背景设定在那里而依然获得成功。这两位作家经常互相参加对方的新书发布会和募捐活动,比杜尔卡先生从中尽可能多地汲取经验。在波文女士传授给他的教训中,最令他难忘的是她在系列小说中允许角色随时间增长的方式,他在自己的写作中也效仿了这一方法。在整个系列小说中,乔安娜·基尔伯恩与她的创作者一同老去。虽然每部小说都围绕一个谜团展开,但规划犯罪情节并非波文女士最喜欢的环节。她最喜欢写的是人。她试图剖析人物的动机,并为其增加社会细微差别,例如残障人士的生活,或萨斯喀彻温省原住民面临的问题。“我站在盖尔·波文的肩膀上。她真正地将草原省份确立为一个可以让成熟的、人物驱动的推理小说繁荣发展并具有全国吸引力的地方,”比杜尔卡先生说道。除了小说,波文女士还热爱戏剧,创作了舞台剧和广播剧。她编写了《在罂粟花中起舞》(Dancing in Poppies)、《美女与野兽》(Beauty and the Beast)、《树》(The Tree)以及改编的《彼得潘》(Peter Pan),这些作品在里贾纳的环球剧院(Globe Theatre)演出。她推理系列中的一个配角——广播播报员查理 D,成为了一部 CBC 广播剧的灵感来源。波文女士后来多次以政治嘉宾和艺术专栏作家的身份回到 CBC 广播电台。随着健康状况下降,波文女士依然坚持写作,在去世前的几个月里完成了第 24 部也是最后一部乔安娜·基尔伯恩系列小说,题为《归乡》(Homecoming)。该书将在其去世后出版。她留下了丈夫特德;子女希尔迪、马克斯和内森尼尔;他们的配偶布雷特、凯莉和柳薇;以及孙辈凯(布里特)、玛德琳(梅森)、莉娜(梅森)、切斯尼、本、佩顿、莱克西、瓦尔、达克斯、德雷克和林克斯。

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Alberta set

to allow some privately paid medical tests starting Friday

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MATTHEW SCACE CALGARY

Starting Friday, Albertans will be able to decide for themselves whether they need a range of medical diagnostic tests, and they will be able to pay a private pro- vider to do them. If the tests turn up a new can- cer diagnosis, the provincial gov- ernment will reimburse the cost for the scan, Premier Danielle Smith said Monday. The move is another in Alberta’s efforts to re- make its health care system. Thenewrulesfallshortofwhat Ms. Smith’s government prom- ised last year, but they neverthe- less mark an expansion in Alber- ta’s bid to encourage private health care operators to set up in the province. Until the new policy comes into effect Friday, Alberta pa- tients are limited in their ability to access MRIs, CT scans, ultra- sounds and X-rays without a re- ferral from a physician. The regulations provide a more detailed look at how Ms. Smith’s government intends to use legislation it passed earlier this year, paving the way for resi- dents to receive reimbursements for self-referred tests. “This new approach com- plements and strengthens Alberta’s public health care sys- tem. It won’t replace it,” Ms. Smith said at a Monday news con- ference. “Medically necessary care will remain prioritized and publicly funded as it always has.”

TESTS, A15

Police probe

second attack in months at Toronto’s U.S. consulate

MATTHEW FRANK

A gunman shot at the United States consulate in Toronto early Monday and led police on a high- speed chase through the city’s downtown, four months after a similar shooting at the same loca- tion, which investigators linked to an alleged guns-for-hire net- work. Deputy Chief Frank Barredo of the Toronto Police Service said in- vestigators were looking into whether there was any connec- tion between the two consulate attacks or a separate shooting on the weekend at a Jewish-owned bakery elsewhere in the city. But he cautioned that the probe was in its early stages. Police said that an officer sta- tioned at the U.S. consulate as part of increased security after the shooting in March heard a firearm being discharged just be- fore 5 a.m. There were no reported inju- ries. Deputy Chief Barredo told a news conference that the officer saw a white Honda Accord sedan with no licence plate flee the scene. He said the officer alerted a nearby squad car, which pursued the vehicle at speeds of more than 140 kilometres an hour, but ended the chase because of safety protocols. Police did not yet have any sus- pects, he said. “We have made arrests in prac- tically all of the other shootings, at great cost to the Toronto Police Service in one instance,” Deputy Chief Barredo told reporters at the scene.

CONSULATE, A3

Gymnasts Lia-Monica Fontaine, top left, Félix Dolci, top right, and Jordan Carroll, above left, all won gold medals in their events on Monday, with hammer thrower Ethan Katzberg, above right, later adding a fourth to the day’s tally. TOP, ABOVE LEFT: LINTAO ZHANG/GETTY IMAGES; TOP RIGHT: KIN CHEUNG/AP; ABOVE RIGHT: BEN STANSALL/AFP VIA GETTY IMAGES

Online sex ads reveal routes used to traffic

Indigenous women and girls across country

TEMUR DURRANI WINNIPEG

Human traffickers are exploiting the coun- try’s highways and airports, establishing corridors to move victims between major Canadian cities, shows new research on missing and murdered Indigenous women and girls. Researchers mapped these routes by ex- amining thousands of sex advertisements posted online over the past decade. The analysts identified ads specifically claim- ing to feature Indigenous women or girls, then monitored changes to the posted locations of the ads in order to track the movement of victims. The data suggest that traffickers are fre-

In Montreal, past kidney donors and recipients

help put hesitant patients at ease

KRISTY KIRKUP HEALTH REPORTER MONTREAL

CARE BETWEEN THE LINES

welve years ago, in the face of seri- ous kidney disease, Serge Pisapia was in need of a transplant and had spent years on peritoneal dialysis. Still, he hesitated to accept a right kidney from his younger sister Christine even though she had gone through several tests and was medically cleared to do so. “Serge was a very reluctant recipient,” Ms. Pisapia, 62, said in an interview. “He did not want my kidney.”

WILDFIRES Macron warns of long battle, pledges support as France races to contain massive blaze A4

Explore our national database of freedom of information requests SecretCanada.com

[ SPORTS ]

Canada captures three golds in gymnastics, one in hammer throw in banner day at the Commonwealth Games in Glasgow B14

RACKING ’EM UP

quently using Ontario as a starting point. The most commonly used corridor in Can- ada is between Toronto and Vancouver. It is followed by Edmonton to Fort McMur- ray, Alta.; Calgary to Edmonton; and Belle- ville, Ont., to Edmonton. These are among the key findings in a new report by Thomson Reuters – titled Unseen, Unknown, and Unsolved: Disap- pearances and Trafficking of Indigenous IndividualsinCanada&theUnitedStates– set to be released Tuesday. Heather Panton, the senior adviser for social impact and human rights at Thom- son Reuters, said the aim with this report is to make hidden patterns visible. “We wanted to provide practical infor- mation that can help policy-makers, law

Much has changed since then, including Mr. Pisapia’s lease on life. In November, 2014, he accepted his sister’s kidney and felt an immediate boost of energy when he woke up in the recovery room. Now, at 70, he takes several daily medications, and test results show he is doing well. The two use this experience to inform their work as volunteers with the Trans- plant Ambassador Program in Montreal. The program, run by a non-profit, was launched in Ontario in 2017 and expanded into Quebec last March. It connects pa- tients with chronic kidney disease and their families with volunteers who them- selves have gone through a transplant or donation. The Transplant Ambassador Program is

LIFE & ARTS In Canadian Stage’s skillful Twelfth Night production, the park’s the thing A12

enforcements, non-profits and communi- ty partners with ways to better detect, pre- vent and respond to this exploitation,” she said in an interview. The report, now in its second annual it- eration, identified at least 38 active and un- resolved disappearances of Indigenous women and girls across Canada from May, 2025, to March, 2026. As the researchers pored through a variety of sources to ob- tain that data – such as information from the Aboriginal Alert network, the RCMP and activist groups – they found that hot spots of disappearances have been emerg- ing in the Greater Toronto Area and Prince George, B.C., and persist in communities in Manitoba and Alberta.

TRAFFICKING, A8

a first in Quebec – operating out of Mon- treal General Hospital – and draws lessons from long-standing efforts by its co-foun- der Susan McKenzie, who received a kid- ney from her sister-in-law in 2010 and be- came a transplant advocate. The work of transplant ambassadors aims to address a care gap: They can offer valuable, first-hand knowledge about their experience, which health care providers do not have. The siblings say most patients pause when they think about receiving a kidney from a family member. They often share how they fear a transplant could affect the health of someone they care about, con- tributing to feelings of guilt.

TRANSPLANTS, A15

REPORT ON BUSINESS Brookfield raises $2-billion for private equity fund in the Middle East B1

(HDFFC|00002V /t.a

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Bulthaup Toronto Inc. 280 King Street East Toronto, ON M5A 1K7

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+1 416 361 9005 toronto@bulthaup.ca toronto.bulthaup.com

ISABEL McLAUGHLIN, GOLDMINE, KIRKLAND LAKE, 1932, OIL ON CANVAS, 106.7 × 86.4 CM. PRESENTED IN MEMORY OF NORAH McCULLOUGH BY HER FAMILY AND FRIENDS, 1993. MACDONALD STEWART ART CENTRE COLLECTION AT THE ART GALLERY OF GUELPH

Throughout July, we are showcasing artworks from the Art Gallery of Guelph, one of Canada’s premier cultural spaces. Spanning historical and contemporary art, AGG is home to more than 11,000 artworks and the largest sculpture park at a public art museum in Canada. The collec- tion brings together diverse artistic voices from across Canada and beyond, from early acquisi- tions by Tom Thomson and members of the Group of Seven to contemporary works by First Nations, Métis and Inuit artists. artgalleryofguelph.ca

Isabel McLaughlin advanced Canadian modernism through paintings that balanced ab- straction with close observation of landscape and industry. Goldmine, Kirkland Lake de- picts the industrial structures of Northern Ontario’s mining region using simplified forms, rhythmic geometry and carefully structured colour. Painted during a period of rapid development, the work reflects Ms. McLaughlin’s interest in how modern industry transformed both the physical landscape and experiences of place in Canada.

SANJAY RUPARELIA

OPINION

The Cockroach Janata Party’s rise shows the political power held by youth in India A11

The Globe and Mail is committed to maintaining the highest ethical, legal and editorial standards. SANDRA E. MARTIN, STANDARDS EDITOR, standardseditor@globeandmail.com

Study documents a precipitous decline

in the number of languages used globally

WILL DUNHAM WASHINGTON

lobally, people currently use roughly 7,500 languag- es, with English, Mandarin Chinese, Hindi, Spanish, Arabic and French the most common, counting native and non-native speakers. That is a lot of languag- es. But it is a far cry from the peak number historically. Researchers used mathemati- cal modelling and insights from anthropology, linguistics and de- mography to estimate the num- ber of languages used globally dating back about 12,000 years to around the end of the last Ice Age, covering a chapter in time called the Holocene epoch. They identi- fied a period spanning the first millennium BC and first millen- nium AD when humankind may have spoken tens of thousands of different languages. The researchers also charted a major decline since this linguistic “golden age,” due to language re- placement driven by factors such as the expansion of large empires in antiquity and European colo- nialism in the past several centu- ries. “Languages are meaningful to their communities. They carry knowledge, associations and me- mories,” said Claire Bowern, a professor of linguistics and an- thropology at Yale University in Connecticut and a leader of the study published in the journal Science. “For scientists, languages carry huge amounts of information about the past, from where peo- ple lived to what they ate, and what they talked about. They also give us a window into the human mind,” Prof. Bowern said. Many language families arose and evolved, with written lan-

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PERSON

The scar Renee Alkass has on her neck is a reminder she was strong enough to survive A13

Cuneiform writing is pictured in May at the Great Ziggurat temple in the ancient city of Ur, which is now in Iraq’s southern Dhi Qar province. ASSAD NIYAZI/AFP VIA GETTY IMAGES

guage eventually emerging, first in Mesopotamia – Sumerian writ- ten in cuneiform script – during the fourth millennium BC, and separately in places such as Egypt, China and Mesoamerica. The researchers estimated that the number topped out in a range from 30,000 to potentially more than 75,000 different languages used worldwide at any one time. The researchers used data spanning 171 extant hunter-gath- erer societies in Africa, South AmericaandSoutheastAsiatoas- sess the size of ethnolinguistic groups – each representing a dis- tinct language – near the begin- ning of the Holocene. They ap- plied that to estimates of the hu- man population at the time. People were dispersed in small bands around the world, living as nomadic hunter-gatherers, with the onset of agriculture and the establishment of permanent set- tlements and more complex cul- turesyettocome.Theresearchers estimated that these scattered populations around 12,000 years

Retirees have to make the same compromises as everyone else in an era of high inflation B8

ago spoke perhaps 4,500 to 6,200 languages. As the global population grad- ually grew over subsequent mil- lenniums and human society changed, the number of languag- es expanded. Numerous major and minor languages have come and gone. Just a few examples include the Sumerian, Hittite, Akkadian and Etruscan languages, various lan- guages used in ancient Egypt and ancient China, and some African click languages. “The people who speak that language are killed or the people who speak that language shift – or are forced to shift – to another language,” Prof. Bowern said. Prof. Bowern also noted that old languages can evolve into new languages, as Latin, the tongue of ancient Rome, morphed into languages includ- ing French, Italian and Spanish in the centuries after the Western Roman Empire expired in 476 AD.

Page 3

Police end ground search for Calgary boy

Parker, who is autistic and non-verbal, walked away from a day home nearly two weeks ago

BILL GRAVELAND CALGARY

Police ended the ground search for a Calgary boy on Monday, 12 days after the 11-year-old walked away from a daycare home. Chief Katie McLellan said offi- cers were refocusing their inves- tigation into the disappearance of Parker. Officers won’t stop looking for the boy, she said, and will review evidence, follow tips and pursue new leads. “The reality that Parker remains missing is difficult for all of us,” Chief McLellan told reporters. “We’re not giving up.” The boy is autistic and non- verbal. Police have not released his last name and said they don’t suspect foul play. Hundreds of officers and vol- unteers have searched for the boy – on the ground and by air, in bodies of water and by knock- ing on doors. Residents were asked to check backyards, sheds, garages and under decks. Information provided by Park- er’s family about his interests and behaviours helped guide

Officers say at least

three suspects involved in Seattle shooting

GENE JOHNSON SEATTLE

Police said Monday there were at least three suspects in- volved in a shootout at a crowded food festival near Seattle’s Space Needle over the weekend. One of them was among those killed in the violence. In a document filed in juvenile court in Seattle, where a 15-year-old arrested in the case waived his initial appearance Monday, police said they believe there were at least three shooters, rather than two: the 15-year-old; an acquaintance who died at the scene; and “at least one other unknown sus- pect.” Nicole Powell, the Seattle Police Department’s assistant chief of investigations, told a news conference Monday after- noon that investigators believe the shooting may have been gang-related, with two groups firing at each other. The de- ceased shooter was 19. A judge ordered the 15-year-old held in juvenile detention for investigation of firearms violations and first-degree as- sault. The King County prosecutor’s office said it expected to receive the case from Seattle police on Wednesday for a charging decision. The gunfire erupted around 6 p.m. Sunday in the waning hours of the Bite of Seattle, leaving three people dead and at least four others, including a toddler, injured. The annual three-day festival draws hundreds of food and retail vendors and performers to Seattle Centre, a sprawling park in the shadow of the Space Needle. Many attendees rushed into campus buildings or ran from the park at the sound of the shots. News that there were at least three suspects followed a se- ries of confusing statements from city officials concerning the shooting. On Sunday, the police department waited five hours to share with the public that one shooter had been arrested and that they believed another to be on the loose. Earlier, Mayor Katie Wilson had announced two people were in custody, a statement she retracted. At a news conference before the court hearing Monday, Police Chief Shon Barnes said investigators weren’t sure if the second shooter was among the dead. Neither he nor the may- or made any reference to additional shooters. Chief Barnes had been out of town Sunday, attending a conference of Black law-enforcement executives in Dallas. The officials defended their handling of the case, saying they were trying to ensure they provided accurate informa- tion about chaotic events. The King County Medical Examiner’s Office on Monday identified the dead as Carlos Israel Sanchez Villalba, 44; Ash- ley Whitehead, 56; and Junior Cee Niko Semo, 19. Mr. Villalba was a husband and father of three known for his kindness and willingness to help others, according to a GoFundMe campaign launched Monday to help his family with funeral expenses. He died from a gunshot wound to his torso, according to the medical examiner’s office. The four wounded included a two-year-old boy, who was in satisfactory condition Monday. The others – two men, ages 23 and 27, and a woman, 39 – were discharged, a hospital spo- kesperson said. One of the victims was walking a bicycle when struck, the court document said. The toddler was with his mother. Vendors were allowed to return to the campus Monday morningtocollecttheirequipment.Skeweredsquidongrills, roastedducksinovensandplatesfulloffoodwereamongthe items left behind as people fled. Near the spot of the shooting, a stain of what appeared to be blood was still visible. A candlelight vigil was planned Monday night at the centre’s International Fountain. Dozens of officers were providing security at the event and responded in seconds, at least one observing a suspect firing, authorities said. Police searched an Imax theatre on the grounds where they initially believed a second shooter fled. Adam Lombardo, who had a Burmese food stand at the festival, described the panic of fleeing people as a “stam- pede.” As he gathered his equipment Monday, he described how police escorted food vendors back to the crime scene to turn off their ovens and stoves. “It’s really sad because you think that three innocent peo- ple aren’t getting up with their families,” he said. “They just came to enjoy a food festival with people, with friends, with new friends, and they lost their lives in just what sounds like meaningless bloodshed.” The festival started in 1982 and draws 350,000 attendees, according to its website.

Police continue to investigate the disappearance of an 11-year-old boy in Calgary. Parker disappeared just before noon on July 16 from his day home. JEFF McINTOSH/ THE CANADIAN PRESS

THE CANADIAN PRESS

some of the search. Officers played Parker’s favourite Disney songs from patrol vehicles to try to draw him out. The search was complicated by Parker’s neurological condi- tion. Police cautioned that he could become scared if confronted by strangers. They asked members of the public not to approach the boy if they spotted him but to instead follow him and call po- lice. Parker disappeared just before noon on July 16 from his day home. Articles of clothing believed to be his were found nearby. A short time later, he was cap- tured on CCTV footage without a shirt and wearing black noise- cancelling headphones.

Police work at the scene of an early morning shooting outside the U.S. consulate in Toronto on Monday. SAMMY KOGAN/THE CANADIAN PRESS

Consulate: RCMP working with international

partners to investigate Toronto shooting

FROM A1

“So, we will continue with the same level of effort, same level of conviction and dedication, to deal with this.” In March, two people shot at the consulate building in what police later alleged was part of a guns-for-hire network. An officer was killed last month during a police raid targeting suspects in that case. U.S. prosecutors previously tied the March shooting to an al- leged Iraqi terrorist with links to Iran’s Islamic Revolutionary Guard Corps. Superintendent Jonathan Ko of the RCMP told the Monday news conference that the nation- al force is also involved in the in- vestigation and working with what he described as internation- al partners, but he did not elab- orate. He said it’s too early to deter- mine a motive for the latest shooting. On Monday morning, police officers at the consulate could be seen inspecting a bullet hole on one of the building’s exterior walls and a shell casing, which Deputy Chief Barredo said was from a handgun, on the ground. University Avenue at Dundas Street, a major downtown inter- section, was closed to vehicles and pedestrians for several hours. The U.S. consulate thanked Toronto police for their response and said in a statement Monday afternoon that operations had re- sumed. At the Monday news confer- ence, Toronto Mayor Olivia Chow repeated her calls from earlier this month to remove illegal American guns from the city’s streets and hold shooters ac- countable. “Early this morning, a shot was fired at the U.S. consulate. This is when there is a police cruiser,

Early in the search, Parker’s family issued a statement describing him as a “loved son, brother and friend.” “Our family is heartbroken by his disappearance. Since he went missing, our family has been liv- ing every parent’s worst night- mare,” they said. “Every hour that passes without knowing where he is or whether he is safe has been incredibly difficult for us.” The search galvanized the public but also exposed prob- lems with public participation in the age of social media. Police waded through hun- dreds of tips and said they were slowed down by altered images and videos created with artificial intelligence claiming to show Parker or provide information about his whereabouts. One false report said the boy had been found dead, and a fraudulent GoFundMe page was also started. The search also raised ques- tions about how to alert the pub- lic when vulnerable children dis- appear. Amber Alerts are broad- cast for children who are abduct- ed and in serious danger. In Parker’s case, an Amber Alert was issued as a special exception on the second day of the search. A group of mothers have start- ed petitions to urge officials to launch similar broad outreach

with lights flashing, right in front of it,” she said. “This is a brazen attack.” In a Monday post on X, Onta- rio Premier Doug Ford said he was “disgusted” by the targeting of the U.S. consulate and Jewish- owned bakeries. Last month, police arrested and charged two men accused of shooting the consulate building in March, tying them to a larger gun-for-hire network that has al- legedly targeted synagogues and businesses.

Last month, police arrested and charged two men accused of shooting the consulate building in March, tying them to a larger gun-for-hire network that has allegedly targeted synagogues and businesses.

Police alleged Zara Jabbi and co-accused Sheldon Tracey-Stew- art stole an SUV, drove to the U.S. consulate and shot at the build- ing multiple times before ditch- ing the vehicle. Mr. Jabbi is facing six charges, including vehicle theft and at- tacking the “premises of Interna- tionally Protected Persons.” An internationally protected person is a UN designation for foreign dignitaries. Canada is obliged to provide them with enhanced protection. Mr. Tracey-Stewart is facing 11 charges, including vehicle theft, illegal firearm possession and discharging a firearm. The allegations against them have not been tested in court. At the time, Toronto police alleged the guns-for-hire net- work was linked to 27 shootings

emergency messages for catego- ries including neurodivergent children. Inside the force’s tactical oper- ations centre, a series of coloured maps outline areas of the city that searchers covered again and again in the search for Parker. “We are very frustrated,” said Sergeant Rich Wall, adding offi- cers spent more than 5,500 hours looking for the boy. “Our areas of realistic search had been exhausted, but we are still carrying on. This is not the end,” he said. “This is a jigsaw puzzle and we’re looking for the last little pieces to make the full picture.” Sgt. Wall added that the public shouldn’t underestimate Parker. “We know he has autism. But physically he is well, and he can walk far and fast.” Acting Staff Sergeant Scott Guterson said people are still encouraged to send in tips and other information about Parker. “Rather than searching a gen- eral area, we’re allowing the investigation to point where those specific pinpoint searches ought to happen.” Acting Staff Sgt. Guterson said police hope Parker is still alive. “But realistically every day that goes by makes that hope less likely, so we continue to ask the public for help.”

in the city. Police said on the weekend that they were investigating a shooting that hit a Jewish-owned bakery overnight Saturday in the area of Yonge Street and St. Clair Avenue West. Another bakery operated by the same business was also reported to have a damaged window, though there was no evi- dence of gunfire at that location. There were no injuries at ei- ther location, police said. The force’s hate crimes division and its guns and gangs task force are both involved in the investiga- tion. Deputy Chief Barredo said on Monday that investigators haven’t ruled out a link between the bakery shooting and the wider gun-for-hire network investigation, but he said he had no information to share. U.S. prosecutors and the FBI have previously linked the March shooting at the consulate to Mo- hammad Baqer Saad Dawood Al- Saadi, an alleged Iraqi terrorist with ties to Iran’s Islamic Revolu- tionary Guard Corps. He was ar- rested in Turkey in May and re- mains in U.S. custody. Toronto police have not con- firmed any connection between Mr. Al-Saadi and the attacks in the city. The Globe and Mail previously reported last month that police believed the consulate shooting was tied to a larger shooter-for-hire network that investigators had linked to attacks on businesses – including the waste-management compa- ny GFL Environmental and tow-truck companies – as well as private residences. This was ac- cording to a source whom The Globe is not naming, as they are not authorized to speak publicly about the case.

Page 4

Macron warns wildfire fight will take time

Gironde blaze has burned through an area four times the size of Paris and forced 220,000 people to flee their homes

MARK CARLSON EMMA DA SILVA JOHN LEICESTER LEGE-CAP FERRET, FRANCE

French President Emmanuel Ma- cron urged fire crews to “stay strong” as they battled Monday to bring a monster wildfire under control, warning that the fight will take time but vowing, “We will win this battle together.” On a visit to a co-ordination centre for the massive firefighting effort in southwest France, Mr. Macron heard how the blaze rag- ing since last week has been wild- ly unpredictable, transforming at times into a self-feeding firestorm as it burned through an area four times the size of Paris and forced 220,000 people to flee their homes. “We’re facing a completely un- precedented fire,” Mr. Macron said, describing the situation as France’s worst fire-related crisis since the Second World War. He praised firefighting teams who stopped the inferno’s pro- gression Monday after days of spreading flames that edged to- ward the wine-region city of Bor- deaux. But with woodlands still smouldering, he and other gov- ernment officials cautioned that the battle isn’t yet won, with for- ests turned tinder-dry by succes- sive heat waves this year and an- other forecast for this week. “The weeks ahead will be hard. We must hold firm,” Mr. Macron said. With thousands of firefighters on the ground and rotations of water- and retardant-dropping aircraft, it became a race against time Monday to contain the blaze before temperatures soar, with national weather service fore- casts of 35 C and above in south- west France from Tuesday. Authorities also are working to feed, shelter and care for eva-

Trump hails ‘good talks’ with Iran,

but attacks expose lingering tensions

SAMY MAGDY ELENA BECATOROS CAIRO

Mediatorshaveachievedprogress in getting the United States and Iran back to negotiations, region- alofficialssaidMonday,afterboth sidespausedattacksafteraperiod of rapidly escalating tensions. But scattered attacks by armed groups across the region under- scored the lingering tensions. Saudi Arabia said it had shot down drones fired by Iran-backed militias in Iraq that had targeted its petroleum facilities. Iran- backed Houthi rebels in Yemen meanwhile claimed to have at- tacked Saudi oil facilities as part of a separate but related conflict. It was unclear if they referred to the same attack. Neither the U.S. nor Iran re- ported carrying out any attacks for three days – a respite after about two weeks of sustained bombardmentsthathadledtoin- creasingfearsofareturntoall-out war. U.S. President Donald Trump said Iran had asked for more dis- cussions, reaching out directly “because we’ve been hitting them very hard.” Iran has said there are no direct talks under way. “We’re having good talks, so we’ll see what happens,” Mr. Trump told reporters Monday on Air Force One. “I think there’s a good chance that something could happen. And if it does, good. If it doesn’t, we go back to doing what we were doing two days ago.” The two regional officials, who spoke on condition of anonymity to discuss the closed-door talks, said mediators led by Qatar and Pakistan were working to bridge the gap between Washington and Tehran to return to an interim ceasefire deal that had collapsed after the exchanges of fire. In addition to the attack on Saudi Arabia, two drone attacks were reported against a Kurdish Iranian dissident group in Iraq on Monday, and Jordan said it had shot down two drones, without saying where they originated. There were no reports of casual- ties or damage. Iran and Ukraine, meanwhile, have been publicly feuding since

A firefighter battles wildfires amid drought and water shortages after a heat wave across much of France, in Saint-Jean-d’Illac, Gironde, on Monday. MANON CRUZ/REUTERS

Burnt vehicles sit in Chapinería, Spain, on Monday, after a wildfire forced tens of thousands to evacuate. MANU FERNANDEZ/AP

cuees who fled in staggering numbers: 250,000 in the south- west, driven away by two fires. Mr. Macron spoke of displaced people “traumatized” by the up- heaval and “who sometimes have lost everything.” No new evacuations were an- nounced Monday. But with France about to enter its peak Au- gust tourist season, authorities

Ukraine fired on at least one Ira- nian vessel in the Caspian Sea over the weekend. Iran, which said a sailor had been killed in the attack,isanimportantallyofRus- sia in its war against Ukraine and helpedMoscowbuildupitsdrone expertise. The U.S. paused attacks after targeting Iranian coastal areas and infrastructure in a nearly two-week escalation sparked by Iran’sfiringatshipstryingtotran- sit the Strait of Hormuz, a crucial waterway for global oil ship- ments. Mr.Trumpis“givingtalkssome space. He’s giving it a little bit of room,” Mike Waltz, the U.S. am- bassador to the United Nations, told Fox News. Mr. Waltz dismissed the idea that the U.S. stockpile of intercep- tors crucial in defending against Iranianattacksisrunninglow,but experts have questioned how long both the U.S. and Iran can af- ford to keep up attacks. Iran halted its attacks after the American pause, Tehran’s army spokesperson told Iranian state TV on Sunday. One of the regional officials who spoke to AP on Monday de- scribed the progress made in mediation efforts as “significant.” He said mediators were working with Iran and Oman on a mecha- nismformanagingvessels’transit through the Strait of Hormuz, the flashpoint for the latest strikes and counterstrikes. Iran’s Foreign Ministry spokes- person, Esmail Baghaei, said dur- ing a news conference in Tehran on Monday that “mediators may convey messages to us from the American side” but that there were no direct negotiations. He said Iran and Oman, which lies on the other side of the Strait of Hormuz, had already held talks on Friday and Saturday on how to manage ship traffic through the waterway. Their aim is to “develop mech- anisms to ensure safe navigation through the Strait of Hormuz while respecting the sovereign rights and sovereignty of both coastal states, as well as Iran’s se- curity and national interests,” Mr. Baghaei said. He stressed that the waterway remains closed. Tehranhasassertedthatthein-

for the Gironde region around Bordeaux worked to keep vaca- tioners away, banning holiday camps for children and for people with disabilities. Government ministers also urged people not to travel to the region that is popular for its At- lantic beaches, famous wines and some of France’s largest expanses of forests.

terim deal with the U.S. allows it to manage shipping on the water- way and potentially charge fees, and it has objected to U.S. efforts to support an alternative route that passes close to Oman. The strait was open to all without fees before the war. The U.S. military on Monday said its recently reimposed naval blockade against Iran continued, with 17 commercial ships redi- rected, two disabled and two boarded. The 60-day period established by the interim deal in mid-June is now well into its second half, and major issues that were meant to be negotiated – notably Iran’s nu- clear program at the heart of ten- sions – have been set aside as mediators try to keep both sides talking. Concerns have grown about shipping through another crucial waterway in the region, the Bab- el-Mandeb strait to the Red Sea. The Houthis last week threatened a blockade of Saudi shipping there, and fired on at least one Saudi tanker, setting it alight. Global energy supplies and the economy remain in the balance as gasoline prices have risen again. Commercial shipping traffic in the Strait of Hormuz was at a three-week low, a maritime body overseen by the U.S. Navy said Sunday, adding that no new at- tacks had been confirmed in the past 72 hours. It said traffic re- mained steady through Bab-el- Mandeb. Meanwhile, Israeli Prime Min- ister Benjamin Netanyahu said he plans to meet with Mr. Trump in Washington on Tuesday. They last met in Washington in February, weeks before they launched the war on Iran that killed senior leaders, including Supreme Lead- er Ayatollah Ali Khamenei. The Iran-backed Hezbollah militantgroupinLebanonfiredat Israel two days after the war be- gan,andIsraelrespondedwithair strikes and a ground invasion. Since then, the U.S. has supported landmark direct talks between Lebanon and Israel to try to calm that front and find a way to dis- arm Hezbollah.

ASSOCIATED PRESS

Crews using earth movers tore up strips of forest and scrubland to create barren spaces, intended to block the flames that officials said had come within 15 kilo- metres of Bordeaux’s outskirts. Farmers kept fire crews supplied with water, transporting it to them in tanks. Briefing Mr. Macron, the Gi- ronde region’s fire chief ex- plained how crews had wrestled with the blaze unlike any they’d previously tackled, extraordinari- ly virulent and capricious, “a fire that’s going everywhere” and whichgeneratedelectricalstorms that sparked more flare-ups. “The last 24 hours went well, thanks to your work” Mr. Macron told firefighters. “Doubtless, to- morrow will be more complicat- ed than today.” Around a dozen countries have provided planes, helicop- ters, firefighters and other assist- ance to both France and Spain, which is also fighting unprece- dented blazes. All told, fires in the two countries have forced more than 330,000 people to flee. In Spain, wildfires have burned out of control around Madrid and

Indian activists challenge

Modi government’s use of AI surveillance at protests

SAURABH SHARMA MUNSIF VENGATTIL

Indian activists are challenging Prime Minister Narendra Mo- di’s government over the use of AI-powered surveillance at the largest youth protest in decades, with one court case set to become a test of federal powers even after agitation ended. The surveillance controversy erupted during last week’s student protests over exam paper leaks, when demonstra- tors posted pictures on social media of a mobile police-sur- veillance van equipped with cameras on a telescopic mast providing a 360-degree view of the gathering. One protester, student activist Aishe Ghosh, has asked the Delhi High Court to declare mass surveillance of protesters unconstitutional and direct the destruction of all personal data collected during the protest, as well as order the framing of guidelines on how surveillance technology can be used. Ms. Ghosh is pressing on with the case even though the protest ended after Education Minister Dharmendra Prad- han resigned in a rare setback for Mr. Modi, who has since announcedapaneltooverhaulthecheating-proneexamsys- tem. India has no law governing the use of facial-recognition technologybypoliceandsurveillanceatthemainprotestsite in New Delhi was a breach of the law, activists say. The government says such checks were legal and in the public interest to ensure law and order. Mr. Modi’s government has often been accused by opposi- tion parties and digital-rights advocates of expanding sur- veillance powers and tightly controlling digital communica- tions. It has rejected such accusations, saying it only acts in the public interest. During a hearing on Friday, Solicitor-General Tushar Meh- ta defended the Indian police conduct, saying privacy claims at a public gathering were “ironical” and the checks were “ab- solutely necessary” and “in legitimate state interest.” In a brief hearing on Monday, judges heard arguments fromMs.Ghoshthatintrusivemasssurveillanceofprotesters was disproportionate, as she sought broader disclosures on the state’s surveillance policies during protests. The court will hear the matter on Tuesday. Internet Freedom Foundation, a New Delhi-based digital advocacy group, wrote to Delhi’s police commissioner on July 24 demanding the deletion of biometric data collected at the protest site. In a post on social-media platform X on Sunday, the force said it had not “restricted anyone’s freedom through the use of facial recognition technology.” “We need proportionality even if we are to claim national security risks. Accountability must flow both ways,” said Akash Karmakar, a technology-law partner at Indian law firm Panag & Babu. He said if India used facial recognition to track protesters, it must also be used to identify police officers who allegedly acted without name badges during the crackdown. Police were also seen noting Instagram handles of protes- ters arriving at the site. When asked why, Inspector Sunil Kumar told Reuters the checks were to ensure no one with a criminal background entered the protest. The surveillance van parked at the site was emblazoned with the Delhi Police crest and the branding “Ikshana,” Hindi for “vision.”

in the Valencia region. Author- ities evacuated 79,000 people and confined 30,000 others to their homes. In both Spain and France, the exceptional scale of the fires – fuelled by heat waves that hit es- pecially hard and early this year, making forests and scrubland tin- der-dry – is driving calls for stron- ger action against climate change. “What we are experiencing is not a series of isolated incidents. It is the consequence of a climate emergency that is making wild- fires even more violent, heat waves more frequent,” Spanish Prime Minister Pedro Sánchez said. A fire raging in hilly, rural ter- rain in Ávila, west of Madrid, has become Spain’s largest on record, scorching 500 square kilometres, the government said. That’s five times the size of Barcelona. “Look at how the valley is burned. Look at the houses, the people,” said David Gonzalez, a 48-year-old gardener who used his van to run supplies to fire- fighters in Ávila. “We are feeling lot of anger and helplessness. It’s something in- human,” he said. Fires have burned 1,530 square kilometres this year in Spain – six times the area scorched by blazes in the first half of 2025, said Sara Aagesen, the ecology minister. The minister said that another heat wave forecast from Tuesday – which would be Spain’s fourth so far this year – could ratchet up the fire danger. Spain’s weather agency forecast temperatures above 40 C. A wildfire driven by strong winds broke out on Sunday after- noon near Peschici, in Italy’s southern Puglia region, burning pine forest and scrub and forcing the evacuation of about 300 tour- ists from beaches and camp- grounds, authorities said. The Coast Guard evacuated tourists by sea to nearby Vieste, where authorities opened tempo- rary shelters. Three Canadair water-bomb- ing planes and fire crews on the groundcontinuedMondaytobat- tle the blaze.

Page 5

Trump defends economic policies in Michigan

President touts that tariffs have revived the auto industry but some businesses say they have hurt the state

WILL WEISSERT DARLENE SUPERVILLE MILFORD, MICH.

U.S. President Donald Trump cametoMichiganonMondayand argued that his economic policies have revived the auto industry and American manufacturing, even as some businesses contend that the sweeping tariffs he’s im- posedhaveactuallyhurtthestate. Mr. Trump visited a sprawling General Motors facility in the De- troit suburb of Milford that is a testing ground for its vehicles. He pumpedafistafterwatchingatrio ofdragracesthatinvolvedmuscle cars and luxury vehicles like the Corvette Z06, Cadillac Escalade V, and EV Hummer – events the an- nouncer promised were “all America First power.” It was the kind of thundering speed the President is expecting at an IndyCar race in Washington next month, which is part of

The family of Gordie Howe, the legendary Canadian hockey player, make the first official car crossing over the Gordie Howe International Bridge as it opens to the public in Windsor, Ont., on Monday. BILL PUGLIANO/GETTY IMAGES

Gordie Howe bridge opens to traffic after months of delays

OTTAWA

The Gordie Howe International Bridge opened to motorists Monday after months of controversy over financial aspects of the project. Officials announced in a post on social media just after noon that the Howe fam- ily had crossed first, in honour of the bridge’s Canadian-American hockey namesake. Minutes later, another post marked the crossing of the first commercial truck, a vehicle from a trucking company in Te- cumseh, Ont., that was carrying auto parts to Michigan. As the sunny afternoon went on, cars and transport trucks brought a stream of inaugural crossings. Cyclists stopped on nearby Broadway Street in Windsor, Ont., to watch some of the first vehicles make the trip. Traffic trickled in and out of Canada after passing through toll booths. Meanwhile, a Detroit resident took in the opening from a lawn chair parked be- neath the bridge, with two fishing rods capped with small U.S. flags fastened to a railing, their lines dangling in the river. U.S. President Donald Trump insisted in a social media post in February that the United States would have to be compen- sated before he would allow the bridge to open. He falsely claimed the $6.4-billion structure connecting Windsor and Detroit was built with virtually no American con- tent. Canada subsequently agreed to make some adjustments concerning the sharing of revenues. Prime Minister Mark Carney later said he could have been more clear about the terms of the deal, as Conserva- tive critics accused him of bending to Mr. Trump’s administration. Canada held a ceremony last week to help mark the opening of the bridge, but a joint celebration with the United States was cancelled over Washington’s recent threat of new tariffs on Canadian goods. American officials said the new levies are a response to provincial bans on U.S. alcohol, Canada’s supply-managed dairy system and quotas on American cars. Pete Hoekstra, the U.S. ambassador to Canada, welcomed the milestone Monday, saying the bridge will add “new capacity to

America’s 250th birthday celebra- tions. Inasubsequentspeechinsidea design facility, the President cheered GM’s plans to expand production domestically in com- ing years and declared himself a president who was standing up for auto workers “at long last.” “I’ve done more for you than your parents, OK?” he joked. Michigan was one of the 2024 battlegrounds Mr. Trump flipped after it backed Democrat Joe Bi- denin2020.Butthestatehasseen parts of its economy affected by the President’s tariffs, including on imported cars and auto parts. Automakers have long said tariffs increase the cost of doing busi- ness, which leads to higher prices for consumers. Company officials led Mr. Trump on a tour where he saw various GM models, including the latest versions of the Chevrolet Suburban, GMC Sierra and Chev- rolet Silverado – the production of which he argued had been boosted by tariffs. At one point, the President grabbed a pen and signed the hood of a white Corvette that was made specifically for America’s 250th birthday. “They’ve come a long way,” he

Cyclists stop on Broadway Street in Windsor, Ont., to watch some of the first vehicles cross the bridge on Monday. DAX MELMER/THE CANADIAN PRESS

one of the busiest and most economically significant border crossings between the United States and Canada.” The bridge over the Detroit River, named for the Canadian hockey icon known to some as “Mr. Hockey,” is expect- ed to serve as a critical route for trade, jobs and tourism between Canada and the U.S. More than 70 per cent of Canada’s ex- ports go to the U.S. For nearly a century, the privately owned Ambassador Bridge has been the only route for large commer- cial trucks moving between the U.S. and Canada at Detroit. Businesses say the new six-lane span will be faster and less expensive. Construction on the bridge began in 2018 but took years, partly because of a global slowdown caused by the COVID-19 pandemic. Goldy Hyder, president of the Business Council of Canada, said the project is a powerful example of collaboration be- tween governments and communities. The business council has anticipated that the bridge would strengthen compet- itiveness on both sides of the border, sup- porting jobs and investments, since it was first announced in 2012, Mr. Hyder said in a statement. Trucking firms say the opening of the

said to reporters about the De- troit-based automaker during the tour. “It’s amazing what tariffs are doingforGM.”Mr.Trumpsaidhe’s been good to the company but he declined to say more. The President’s speech lasted more than an hour and was wide ranging – hitting on the economy, the war in Iran and the U.S. mili- tary operation that toppled the leader of Venezuela. He also touched on communi- sm, crime rates, his administra- tion’s efforts to transform the na- tion’s capital and even how care- fully he treads to keep from trip- ping while on stage or deplaning from Air Force One. With early primary voting al- ready under way, Mr. Trump called on stage Republican Repre- sentatives Lisa McClain, Tom Bar- rett and Tim Walberg, as well as gubernatorial candidate John James and Senate candidate Mike Rogers. Mr. Rogers is unopposed in the Senate primary, but the GOP gu- bernatorialcontestpitsMr.James, who is backed by Mr. Trump, againstPerryJohnson,abusiness- man turned politician who has launched unsuccessful cam- paigns before, including for presi- dent in 2024.

Gordie Howe bridge promises more effi- cient transport – though not necessarily lower prices for consumers. Canadian Trucking Alliance CEO Ste- phen Laskowski says the new span be- tween Detroit and Windsor, Ont., will make for better traffic flow, smother secu- rity procedures and competitive toll rates that could save large trucking companies up to $100,000 a month. The six-lane bridge offers a direct con- nection between Ontario’s Highway 401 and Interstate 75 across the Detroit river, while the four-lane Ambassador Bridge upstream requires an off-ramp and up to 14 traffic lights on the Canadian side. Mike Millian, president of the Private Motor Truck Council of Canada, says the new crossing also features quicker, more up-to-date X-ray imaging facilities and tolls that sit well below recent rates at the privately owned Ambassador Bridge. However, he says that high diesel fuel prices following a tough couple of years for the industry mean the cost savings may not trickle down to consumers any time soon.

ASSOCIATED PRESS

ASSOCIATED PRESS

Anewroundofsteepimportle- vies is taking effect on dozens of U.S. trading partners. Yet Mr. Trump has singled out Canada with tariffs as high as 50 per cent on a wide array of its products, in- cluding cars. The GM facility he toured is in Oakland County, which encom- passesmuchofDetroit’snorthern suburbs. Once a Republican stronghold, it has increasingly leaned Democratic, backing Mr. Biden against Mr. Trump in 2020 and vice-president Kamala Harris againstMr.Trumpfouryearslater. Michigan’s economy relies heavily on Canada, meaning the new tariffs – coupled with infla- tion still running high and gas prices rising again as the already unpopular war in Iran escalates – have created additional econom- ic concerns statewide. Some ad- vocacy groups citing import and tariff data, says tariffs have cost Michigan businesses billions of dollars just since last spring. The latest tariffs come at a time when voters across the country were already increasingly dissat- isfied with Mr. Trump’s handling of the economy. Jason Roe, a former executive director of the Michigan Republi- can Party who tried unsuccessful-

ly to distance it from Mr. Trump’s Make America Great Again move- ment in 2021, said that more than coinciding with his new round of tariffs, Mr. Trump’s visit is a func- tion of Michigan’s relatively late primary and is meant to ensure that Mr. James secures the nomi- nation. But Mr. Roe also said it was a risk for the President to tie him- self too closely to top Republicans before the general election, call- ing it “kryptonite to November voters.” Mr. Trump, who won the White House on a promise to lower the cost of living, also has seen his ap- provalratingssag,meaningkitch- en table issues could be a liability for Republicans trying to hold control of Congress in the Nov. 3 elections. “We’re happy to have the Presi- dent here, campaigning with Re- publicans. We think it highlights the fact that the only thing they care about is Donald Trump and refuse to stand up to him,” said Curtis Hertel, chairman of the Mi- chigan Democratic Party. “It’s good for us every time the Presi- dent is here because he’s incredi- bly unpopular.”

McConnell

not cleared to leave rehab, statement says

KEVIN FREKING WASHINGTON

The office of Senator Mitch McConnell released an update on his health Monday, this time with a statement from the congres- sional Office of Attending Physi- cian stating the senator has not yet been medically cleared to leave a rehabilitation facility where he is undergoing physical therapy. The update comes shortly be- fore his home state’s annual Fancy Farm picnic, which features speeches from politicians throughout the state seeking elected office. Mr. McConnell said in a written statement that he won’t be able to attend the event. “There’s no place I’d rather be on the first Saturday in August than with the good people of western Kentucky, feasting on pork and mutton,” he said. He said that when he first at- tended the event 42 years ago, Fancy Farm was a lonely place for Republicans, but times have changed. “So I hate that I’ll miss the fun this year, but I’m sending my best wishes to the St. Jerome community for a successful pic- nic,” Mr. McConnell said. Mr. McConnell, 84, was admit- ted to the hospital on June 14 and revealed weeks later that it was due to a fall. He had polio in his early childhood and has long ac- knowledged some difficulty as an adult in walking and climbing stairs. The statement from the Office of the Attending Physician said Mr. McConnell has maintained a strenuouscourseofphysicalther- apy and rehabilitation since he left the hospital, which includes multiple sessions a day designed to rebuild strength and reduce the risk of future falls. “His bout with childhood polio continues to be a significant fac- tor in his mobility. He is not yet medically cleared to leave the re- hab facility and return to the of- fice,” said the statement from the physician’s office in Congress. Mr. McConnell said he appre- ciated the well wishes he has re- ceived in recent weeks, and “I’m looking forward to getting back to the Senate and to Kentucky soon.” Mr. McConnell is not seek- ing re-election but intends to fin- ish out his term.

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Page 6

Blaze near Clinton, B.C., continues to rage

Officials tally damage, meet with homeowners as sad stories emerge from community

NONO SHEN BRENNA OWEN

A councillor for Clinton, B.C., said Monday that sad stories were emerging from the southern Inte- rior community where homes and other structures have been destroyed by wildfire, as author- ities begin tallying the damage and the process of reaching out to homeowners. A photograph provided by the BC Wildfire Service appeared to show most of the village intact on Monday, with smoke still shroud- ing the forested slopes surround- ing the village, about 350 kilo- metres northeast of Vancouver. But Nicolas Kosovic, who also operates the Stagecoach Cafe in Clinton with his mother Maria, said a number of properties had been lost south of the village where the fire behaviour “was quite severe.” They include Steve’s Towing,

K

A killer whale is pictured near Canso Causeway on Friday. In 2008, a paper prepared for the federal Fisheries Department said a review of sightings and photographs from across Atlantic Canada confirmed 363 sightings between 1864 and 2007. THE CANADIAN PRESS

across Atlantic Canada confirmed 363 sightings between 1864 and 2007, most of them recorded in the waters off Newfoun- dland and Labrador. “Killer whales have been reported rarely from coastal Nova Scotia, the Bay of Fundy andthenortheasternUnitedStates,despite many years of aerial and shipboard ceta- cean surveys conducted by the [U.S.- based] National Marine Fisheries Service,” the paper said. More recently, lobster fishers working off northern Cape Breton reported seeing a pod of about a dozen orcas not far from Cape Smokey in June of last year. As well, published accounts in 2023 re- ported sightings near Cape Race, N.L., as well as near La Tabatière, Que., in the Gulf of St. Lawrence, and the Bay of Fundy near New Brunswick’s Grand Manan Island. Aside from the most recent sighting on theweekend,thelasttimepeopleinCanso, N.S., spotted orcas was in June 2019. AndinJuly,2016,afamilyonasmallboat off southern Newfoundland reported be- ing encircled by a pod of orcas. At the time, retired fisherman Norm Strickland said five or six whales surrounded his 5.5-metre boat near Burgeo and started charging the boat. “It was really harder than a bump,” Strickland said in an interview in 2016. “It was jolting the boat enough that when it hit, you almost lost your balance.”

THE CANADIAN PRESS

THE CANADIAN PRESS

‘We all got sprayed’: Rare sightings of killer whale

off Nova Scotia causeway leave public in awe

MICHAEL MacDONALD

ayla Partridge was on a small boat with family and friends Sunday when they were suddenly part of an exceptionally rare encounter with a lone killer whale off southern Cape Breton. “We were just kind of putting along and then we saw him breach,” Ms. Partridge said in an interview Monday, recalling how the orca leapt from the water on the west- ernsideoftheCansoCauseway,whichlinks the island with mainland Nova Scotia. “We shut the motor down, shut every- thingdown,andjustcoastedalong.Itcame right up under the boat … two or three times.” A video of the sighting shows the large, black-and-white whale swimming under the boat and then surfacing a few metres away, exhaling a powerful blast breath from its blowhole. “We all got sprayed,” said Ms. Partridge, who lives in nearby East Tracadie, N.S. “It was really remarkable. It’s not a normal thing for around here …. It’s one of those, holy cow, once-in-a-lifetime (moments).” On Sunday, the Nova Scotia-based Ma- rine Animal Response Society posted messages on social media saying the soli- tary orca had been spotted in the past few days and appeared to be in good shape. “Orca sightings in coastal Nova Scotia are rare, making this a truly remarkable

TRUMP ADMINISTRATION ASKS SUPREME COURT TO TIGHTEN MAIL-IN BALLOT RESTRICTIONS

U.S. President Donald Trump’s adminis- tration asked the U.S. Supreme Court on Monday to allow implementation nation- wide of his executive order aimed at tightening rules for mail-in voting ahead of the November midterm elections that will decide control of Congress. In a filing, the Justice Department requested that the justices put on hold a judge’s ruling preventing the enforce- ment of the Republican President’s direc- tive in 23 mostly Democratic-governed states and Washington, which had chal-

whose owner Steve Larabie told The Canadian Press on Saturday that the business and two family homes on the property had been lost. Mr. Kosovic, who fled the fire late Friday, declined to identify othersandwarnedagainstrelying on social media for information. “I know everyone is speculat- ing. Certainly, I was thinking about what happened to my house. My house was uninsured, so it’s just like if I’m going to lose everything, I’m going to know,” he added. Mr. Kosovic said he had re- ceived word Monday morning that “as of last night, my house is still standing.” Clinton Mayor Roland Stanke saidanassessmentcrewwouldbe in the village on Monday and Tuesday and would survey the ex- tent of the destruction. “If there is damage to your property you will be personally contacted, hopefully before you see misinformation posted on Facebook,” he said in a social media post. “There are smoulder- ing embers still everywhere that can flare up a few days after a fire has gone through causing struc- tural fires.”

animal to encounter,” the organization said in an online statement. Meanwhile, the non-profit group asked boaters to give the whale plenty of room, adding that federal rules require vessels to stay at least 100 metres away from any whales. The group said it had received numer- ous reports of vessels near the whale, say- ing that information had been forwarded to the federal Fisheries Department, which haddispatchedfisheryofficerstothestrait. Thedepartmentdidnotimmediatelyre- spond to a request for comment. “The best way to enjoy this rare visitor is from shore,” the conservation group said. “Giving the whale plenty of space helps re- duce disturbance and allows it to move through the area naturally.” Ms. Partridge said she and her family wereontheirwayhomewhentheyspotted the whale. She said they were aware of the regulations and made no effort to ap- proach the animal. “We had the motor shut off long before we ever got anywhere close to being 100 metres away. I think it just saw us and … was curious,” she said. “I would urge anyone out there in the straightwho’sdrivingaroundtryingtofind it, just to be respectful of those regulations. It does keep the animals safe and it keeps you safe.” In 2008, a research paper prepared for the federal Fisheries Department said a re- view of sightings and photographs from

lenged the order as unconstitutional, while the litigation plays out. The Supreme Court ordered those states to respond to the Justice Depart- ment’s request by Aug. 3. U.S. District Judge Indira Talwani re- jected the administration’s argument that the states lacked the necessary legal standing to challenge Mr. Trump’s direc- tive. In June, Justice Talwani ruled the President lacked the authority to order changes in how states administer federal elections, noting that under the U.S.

Mr. Stanke said water was be- ing turned back on for residents who “chose to defy the evacua- tion order” but it would have to be boiled before drinking, while BC Hydro crews were doing checks before restoring power, and there were still downed pow- er lines. A statement from the village thanked more than 15 members of the Clinton fire department who have stayed behind and worked “tirelessly” to protect the community. Firefightershaddividedthevil- lageintoquadrantsandwerecon- ducting continuous patrols to ex- tinguish any spot fires, it said, and structure protection personnel with the BC Wildfire Service also remained in Clinton. The complex of fires threaten- ing Clinton and surrounding ar- eas continues to burn out of con- trol, with the Pear Lake and Fifty- nine Creek blazes merging over the weekend to span more than 630 square kilometres. Residents of 70 Mile House, B.C., were told to leave their homes on Monday in an expand- ed evacuation order from the Thompson-Nicola Regional Dis- trict that now covers about 650

Constitution, states have the role of determining voter-eligibility require- ments. The administration said the justices should lift Justice Talwani’s ruling be- cause the lawsuit is premature. Federal agencies “are still deliberating over how (if at all) to implement the order, yet the district court pre-emptively decided that whatever the agencies may choose to do will necessarily be un- lawful,” the Justice Department said in its filing. REUTERS

properties on both sides of High- way 97. That’s in addition to properties in Clinton, where officials issued an evacuation order Friday as flames roared to the outskirts of the community. Village officials have said most of Clinton’s residential area sur- vived. The BC Wildfire Service hadn’t posted any photos of the Clinton area since last Thursday, thedaybeforethewildfiresurged, but on Monday it shared several. One of the latest photos, dated Monday,showedresidentialareas in the village itself appeared in- tact, although the whole commu- nity wasn’t visible. Firefighters and structure pro- tection personnel remained in the village on Monday, the BC Wildfire Service said in an update posted online. It said a guard had been estab- lished at the southeast corner of Clinton, while crews were work- ing on another barrier between the village and the fire’s edge. “Heavy equipment resources will begin developing contain- ment lines farther out from the fire in order to get ahead of the rapid fire growth and behaviour that we are seeing,” the service

said. The Thompson-Nicola Region- al District issued an evacuation order for two properties later Monday due to another blaze, the Rim Lake wildfire, burning to the east of the combined Pear Lake and Fiftynine Creek blaze. The roughly 250-square-kilo- metre French Bar Creek fire also continues to burn to the north- west. The blazes are among about 130 wildfires in B.C., with more than 50 burning out of control. Air-quality warnings due to wildfire smoke remain in effect for much of B.C.’s central and southern Interior as well as the Prince George and Fort St. John areas. Mr. Kosovic, who was in Kam- loops with his mother and their cat, said he planned to meet with his best friend, who had lost his home to the flames. “We’re going to be there for each other and support each oth- er in this critical time,” said Mr. Kosovic. “I think Clinton is quite resil- ient. It is a strong community,” he added.

DURHAM POLICE DEPUTY CHIEF TO RETIRE AFTER WATCHDOG UNCOVERS MISCONDUCT

A Durham Regional police depu- ty chief will retire after the police board says an investiga- tion by a watchdog agency found he committed miscon- duct. The Durham Regional Police Service Board says it has agreed with deputy chief Chris Kirk- patrick that “their employment relationship be concluded.” In a statement posted on social media this morning, the board says Mr. Kirkpatrick will not be returning to work and is retiring from the police service east of Toronto. It says the decision has been made after “careful review and deliberation” of an investigation by the Law Enforcement Com- plaints Agency that determined Mr. Kirkpatrick’s actions amounted to misconduct under the Community Safety and Policing Act. The statement did not specify what actions were investigated by the watchdog, and neither the board nor the agency imme- diately responded to a request for comment. In February, the Durham force said a deputy chief had been suspended after using “racially inappropriate term” during a meeting of its Afro-Caribbean Canadian Internal Support Network. It did not name the deputy chief. The board’s statement Mon- day said it remains “deeply committed to fostering an in- clusive workplace and culture, and to ensuring that the DRPS reflects and respects the diverse communities it serves.” “These values are funda- mental to how this service oper- ates and how it earns the trust of the public every day.” THE CANADIAN PRESS

DEADLINE NEARS TO FILE CLAIM IN CLASS-ACTION LAWSUIT OVER DRUG REXULTI

The deadline is fast approaching for Canadians to claim their share of a multimillion-dollar class-action lawsuit over the drug Rexulti. Canadians have until Aug. 27 to file a claim for their share of a $4.75-million settlement over the antipsychotic medication used to treat schizophrenia and depression. Quebec Superior Court ap- proved the settlement in No- vember, one year after autho- rizing the national class action against Otsuka Canada Pharma- ceutical Inc. and Lundbeck Canada Inc. The class action covers Cana- dians who were prescribed the drug since February, 2017, and later developed compulsive behaviours or impulse-control disorders such as gambling, shopping or binge-eating. Lawyers representing affected patients and families have said the deal is a compromise with no admission of liability. Applicants could receive anywhere from roughly $6,500 for mild cases to more than $102,000 in more severe cases. THE CANADIAN PRESS

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Even before attack, Berlin’s gay community felt unsafe

Pride attendees question how assailant got past increased security measures

JIM TANKERSLEY PHILIP KALETA BERLIN

he parade at the centre of Berlin’s gay Pride celebra- tion Saturday was a sunny blur of glitter and feathers, of rainbow flags and thumping techno beats. It was cocooned by walls of metal barricades and guarded by 2,200 police officers – up from 1,300 last year, as the city tried to curb a wave of vio- lence against Berlin’s gay com- munity. Those precautions failed to prevent an attack late Saturday night, when an assailant plowed a rented van into a group of rev- ellers leaving the celebration via a side street in the city’s central Tiergarten park, just outside the security perimeter. He attacked others with what appeared to be a machete, shocking those who thought the extra security mea- sures might protect them. “How did he even get into the Tiergarten?” asked Benjamin Bock, an attendee who said he had been at the site of the attack 10 minutes before it happened. “There were anti-car and anti- truck barriers everywhere. Thou- sands of police officers were on duty.” One woman was killed, and 29 people were injured, the author- ities said. Police shot and killed the main suspect Sunday eve- ning, ending a daylong national search. Officials called the attack Islamist terrorism, and named the suspect as Abdul B., 21, omit- ting his surname in line with German privacy laws. It was a sum-of-all-fears mo- ment for Berlin’s LGBTQ+ com- munity and for city officials, who ramped up security at Pride events in recent years and who had appeared to be making pro- gress in their efforts to stem a

People walk past a makeshift memorial at Tiergarten park in Berlin on Monday, after an attack near the city’s annual Christopher Street Day Pride celebration on Saturday left one woman dead and 29 people injured. ANNEGRET HILSE/REUTERS

surge of crime against the com- munity. Berlin started an effort in 2024 to combat violence and discrimi- nation against its LGBTQ+ com- munity. According to city statis- tics, “anti-queer” crimes more than tripled in the city between 2016 and 2025. Violent anti-queer crimes rose by half. Both violent and non-violent offences peaked in 2023 and have fallen since the city began its strategy, but both types of crimes remain histori- cally elevated. Much of that effort has fo- cused on countering growing hostility from Germany’s far right; in Berlin, far-right ideology was the most frequently cited specific motivation for homo- phobic attacks in the city in 2025. But on Sunday, after the author- ities said the perpetrator had at- tempted to join the terrorist Is- lamic State group, community leaders said they were increas- ingly worried about threats from a wider range of political and re- ligious motivations.

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“We queer people in Berlin are feeling more and more unsafe,” Florian Winkler-Schwarz, ma- naging director of the LSVD As- sociation for Queer Diversity Ber- lin-Brandenburg, a civil rights group, said in an interview. Mr. Winkler-Schwarz said the police presence and other safety measures at the celebration Sat- urday “were enormously high.” But, he said, “I believe that you cannot guarantee 100 per cent security for such a massive event.” Alfonso Pantisano is the LGBTQ+ affairs commissioner for Berlin’s state government, a position created as part of a strat- egy to combat violence and dis- crimination against the commu- nity. He attended the Christoph- er Street Day celebration with a police escort because of the threats he has received since tak- ing the job. He stayed at the site deep into Sunday morning to help and comfort people who were evacuating after the attack. “My heart is broken,” Mr. Pant-

isano said in an interview. “It’s making me wonder if, in this life that I have at the moment – and I’m 52 now – I will ever get to a point where I can say, as the queer community, finally, we are really safe.” Many festivalgoers in Berlin grappled with similar fears in the wake of the attack. Uwe Brzezek and his partner, Olav Kedziora, stood outside a church memorial service Sunday afternoon, as rain fell, surround- ed by dozens of mourners. Some carried Pride flags. Mr. Brzezek and Mr. Kedziora attended Saturday’s Pride festiv- ities but left hours before the at- tack. “Yesterday, friends of mine dressed up for Pride,” Mr. Ked- ziora said. “But they changed back into regular clothes before taking the subway home. They were afraid of being harassed. You would have hoped that, at least on that day, it wouldn’t have been necessary.” Mr. Brzezek said that when he

moved to Berlin in the 1990s, “I never felt afraid. Now there are certain situations I avoid.” Some said they feel particular- ly unsafe in areas with large numbers of migrants, including higher numbers of conservative Islamists. The suspect was a German ci- tizen of Lebanese background, living in an area with a large Arab community, and he had de- veloped extremist views, author- ities said. “Diversity itself seems to be becoming a challenge,” Mr. Ked- ziora said. “Too many extremes are colliding. We have to learn how to live together.” Some people at the memorial Sunday said German leaders had contributed to a sense of insecu- rity. They singled out the far- right Alternative for Germany party, which has climbed in na- tional polls with a platform that defines a family as a man and a woman with children. Others criticized Friedrich Merz, the chancellor, who defended a deci- sion not to fly a Pride flag over the federal parliament building last year by saying parliament was “not a circus tent.” Mr. Merz and Berlin Mayor Kai Wegner attended the memorial service Sunday. Afterward, Mr. Wegner led a silent march from the church to the Brandenburg Gate. Several hundred people joined the march. Mr. Merz brief- ly spoke before the service, ex- pressing outrage over the attacks and solidarity with the commu- nity. At a speech later in the eve- ning, he elaborated. “Violence doesn’t begin with an attack,” he said. “Violence be- gins with intolerance, with exclu- sion, with discrimination, with stupid remarks and bad jokes.” The authorities said Sunday that they would review security protocols to determine how the attacker was able to target peo- ple so close to the celebration. Officials and attendees alike said the violence would not deter them from future celebrations.

NEW YORK TIMES NEWS SERVICE

Page 8

Trafficking: Issue overlaps

with broader societal concerns such as addiction, poverty

The EmpowerMen team works out of the Ma Mawi Wi Chi Itata Centre, an Indigenous-led, community-based family resource centre in Manitoba. SHANNON VANRAES/THE GLOBE AND MAIL

FROM A1

The30-pagereportalsohighlight- ed how resource-extraction sites are playing a role in human-traf- ficking cases by spurring sex-buy- ing demand in areas near major projects. “Behind every record is a per- son, a family, a community that’s really seeking answers, protec- tion and justice,” Ms. Panton said. (Woodbridge Co. Ltd., the Thom- son family holding company and controlling shareholder of Thom- son Reuters, also owns The Globe and Mail.) For Deputy Grand Chief Anna Betty Achneepineskum of Nish- nawbe Aski Nation, who repre- sents 49 First Nations in Northern Ontario, it has been gratifying to see more attention being paid to the issues she has been raising for decades. “We have long waited for gov- ernments and private companies to take this link between sex traf- ficking and our missing and mur- dered women seriously,” she said. “And while we have, of course, al- ready shown them many num- bers before, part of what all this new research is doing is that it helps us to tell them exactly what they should be working on, and where we need better policies and enforcement.”

Sex-ad analysis was a key tool used by Thomson Reuters re- searchers to investigate human trafficking because it allowed them to geographically plot the demand that fuels these net- works. For last year’s report, the re- searchers had collected 3,485 sex ads posted in Canada since 2016. The study concluded that a larger volume of sex ads was correlated with a higher number of cases of missing and murdered Indige- nous women and girls. This year, they refreshed that data by col- lecting a further 313 sex ads from May of 2025 to March, 2026. These ads offered locations, phone numbers and photos of Indige- nous women and girls. The re- searchers tracked how sex ads were posted for what appeared to bethesamepersonindifferentci- ties, then analyzed changes to their advertised locations to map the most commonly used traf- ficking corridors in Canada. They also learned other quali- tative insights, such as how sex buyers on messaging boards in Canada are advising others to seek Indigenous women and avoid white women, because the latter are perceived to be more likely to be connected to law en- forcement. Researchers wrote in the re- port that “an unintended, prob- lematic effect” of police sting op- erations involving white women may be “sex buyers seeking out

1 3

Indigenous women due to a per- ceived lower risk associated with the Indigenous population.” They noted that human traf- ficking is a particularly complex issue because it overlaps with broader societal concerns, such as drug addiction, poverty, home- lessness, colonization and sys- temic discrimination. Often, re- searchers said, victims may not know or believe that they are be- ing trafficked. (Sex ads were considered to be a general indicator of human traf- ficking for the purposes of this analysis, which did not exclude ads that may have been for volun- tary sex work. Researchers searched through posts to find those where someone was identi- fied as Indigenous or Native American – meaning they may have missed ads where the eth- nicity was not stated and simulta- neously may have included those where the ethnicity was inaccu- rate.)

Locations where Indigenous women and girls have disappeared from

Edmonton Edmonton

Vancouver Vancouver

Data from May 2025 to March 2026

THE GLOBE AND MAIL , SOURCE: THOMSON REUTERS

Sex ads posted online featuring an Indigenous person

Heather Panton from Thomson Reuters says the new report aims to aid with preventing trafficking. LOUIE PALU/THE GLOBE AND MAIL

The Thomson Reuters report dovetails with a Globe investiga- tion published last month that demonstrated the ways in which predators are utilizing short-term rental platforms as they move victims between cities. In one case, a Quebec teenager was pres-

Montreal Montreal

Ottawa Ottawa

Toron o Toronto

10 10 40 40 100 100

Right: EmpowerMen has done its own research on the trafficking problem. SHANNON VANRAES/ THE GLOBE AND MAIL

sured into providing sexual ser- vices to at least 50 men in the span of 15 days. She was taken westward from Montreal through Ontario – to Toronto, Sudbury, Timmins and Thunder Bay – be- fore winding up in Manitoba, The Globe reported. Fortheir2026report,Thomson Reuters researchers examined data from the United States for the first time, which, Ms. Panton said, illustrates the borderless and transnational nature of these crimes. The report found that Indige- nous women and girls in the U.S. share similar vulnerabilities to those in Canada, and that both countries offer challenges to ob- tain data because neither main- tains a unified government re- pository for these cases. In many instances, analysts saw that phone numbers associ- ated with sex ads in Canada were also used in ads in the U.S. In doing their analysis, re- searchers found cases where ads for the same person were posted in locations separated by vast dis- tances, such as Toronto and Van- couver, just a few days apart. The movement of victims across such corridors highlights the need for more awareness at transit and transport check- points, Ms. Panton said. It also in- dicates that jurisdictions should be working more closely together to spot trafficking in well-known corridors, including by stationing dedicated personnel, she added. Ms. Panton said last year’s edi- tion of the report emphasized the importance of law enforcement incorporating sex-ad analysis in- to active investigations. Earlierthisyear,inMinnesota– a jurisdiction that began to inte- grate sex-ad analysis into its work after the 2025 Thomson Reuters report – investigators found ads that were paramount in an active case. Shortly after a missing per- son’s report was filed for an Indig- enous woman, they cross-refer- enced her photo to confirm that she had been trafficked. They lo- cated her safely and she is now back with her family. Taylor Wencel, an intelligence

specialist for the Missing and Murdered Indigenous Relatives Office in Minnesota, said it is im- portant to ensure that “no poten- tial lead is overlooked in the pur- suit of justice.” “Every missing person de- serves every available investiga- tive resource,” he said in a state- ment. “Cross-referencing sex-ad data with missing persons cases has demonstrated its value by helping to identify individuals and generate leads that may not have been discovered through traditional approaches alone.” The Minnesota example shows why sex-ad analysis should be added as a standard practice into similar investigations conducted by all police forces, Ms. Panton said.

Ms. Achneepineskum said she has been deeply worried about findings by Thomson Reuters re- lated to Prince George, an outlier in their data. “I worry about what it says for our future,” she said. In the rugged northern B.C.

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city, with a population of around 76,000 and an economy predicat- ed on resource extraction, re- searchers found at least three cases of missing and murdered Indigenous women and girls within a 10-month period. Though one of the individuals was located safely, and thus did not make up the 38 disappear- ance cases included in the study, Ms. Panton said Prince George should be a warning sign for oth- er areas with large resource-ex- traction projects. Last year, Winnipeg-based Em- powerMen released a 96-page re- port about the linkage between the resource-extraction industry and sex trafficking, which Thom- son Reuters referenced in its re- search. It showed how newly es- tablished industrial camps near construction sites – or “man camps,” as they are commonly called – have historically tolerat- ed and led to the victimization of vulnerable women and girls. Hennes Doltze, the project lead of EmpowerMen, said this matter goes to the heart of the

The Ma Mawi Wi Chi Itata Centre hosts a memorial to those affected by residential schools. SHANNON VANRAES/THE GLOBE AND MAIL

Hennes Doltze with EmpowerMen says there’s work to do in convincing men to ‘step up and challenge the norms of sexual exploitation.’ TEMUR DURRANI/THE GLOBE AND MAIL

problems associated with sex- buyer demand. His small team of advocates works out of the Ma Mawi Wi Chi Itata Centre, an Indigenous-led, community-based family re- source centre in Manitoba. They are Canada’s leading group focus- ing on demand reduction for hu- man trafficking. “The influx of cash that comes in with these camps of men, away from families and willing to spend money, not only affects the population living nearby, but also makes these sites the perfect hot spotforthetravellingnetworksof human traffickers,” Mr. Doltze said. It’s important to educate men to challenge the norms of sexual exploitation, he said. “We hear often from men who have solicited prostitution that they didn’t know the woman or girl they were with was being traf- ficked,” he said. “But the majority don’t want to know – that’s their mindset. We have to work toward changing that as a society.” Mr. Doltze believes the only

reason sex trafficking exists is be- cause there is a market for sex buyers. “If we’re able to create more policies and frameworks that directly address this issue of demand with these men, without fear or stigma and with direct in- tervention, we can prevent so much of this issue from prolifer- ating the way it has.” Last week, in Prince George, federal Natural Resources Minis- ter Tim Hodgson attended an event for a $4-billion Enbridge natural gas pipeline expansion. As his news conference celebrat- ed the start of construction at the site, absent were any details about protocols to combat hu- man trafficking. In a statement to The Globe, Mr. Hodgson’s office acknowl- edged that while infrastructure- related projects are able to “cre- ate significant economic oppor- tunities and benefits, Indigenous communities have also raised concerns about the heightened risks of violence.” “As Canada advances major re- source and infrastructure pro-

Sheri Taylor is chief of Ginoogaming First Nation in Northern Ontario and says her community is vulnerable to human trafficking.

jects, the Government recognizes the importance of working pro- actively with Indigenous part- ners, industry and other govern- ments to help identify, prevent and address risks related to gen- der-based violence, human traf- ficking and community safety,” said the statement from Mr. Hodgson’s spokesperson Char- lotte Power. Enbridge spokesperson Gina Sutherland said the company im- plements rigorous training and extensive awareness measures to ensure there is “zero tolerance for harassment, exploitation, hu- man trafficking or any other un- lawful conduct” at its sites – par- ticularly when large construction projects lead to many workers staying in temporary housing. “Anyone who violates these policies is subject to disciplinary action, including immediate re- moval from a project and termi- nation,” she wrote in a statement to The Globe.

In her small Anishinaabe com-

munity, just over 300 kilometres northeast of Thunder Bay, Chief Sheri Taylor of Ginoogaming First Nation has been inundated by smoke from recent wildfires nearby. But she wants to be clear, she said: Her First Nation of about 1,030 people had already been under a local state of emergency since this past May because of “the cyclical issues” connected with missing and murdered women and girls. “We have warned the provin- cial government and Ottawa about how our community – right next to the highway that links to Manitoba and the rest of the country, right next to a gold mine they’re making profit from – is vulnerable to human traffick- ing. Over and over again, we have made that clear,” she said. “We need all Canadians to be aware and to stop treating our women like their lives don’t mat- ter. We know awareness is key. And I’m hoping when people see this report that’s a step for that to actually happen now.”

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EDITORIAL

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Ontario blows

fiscal smoke on firefighting

ildfires have become a sadly predictable part of

life in Ontario – and so, too, has the province’s

failuretobudgetforthemproperly.Lastyear,On-

tario allocated $135-million for its emergency forest firefight-

ing fund, but had spent $271-million by the time fire season

was over, a gap of $136-million. The year before that, the bud-

geted amount was $36-million short of actual costs. The year

before that, it was $63-million short.

Since 2018, when Premier Doug Ford was elected, the costs

have only once been less than budgeted. The money always

comes–nopoliticianisgoingtosaytheycan’tfindthedollars

to fight fires that threaten to destroy communities.

“We’d never underfund our firefighters. Never, ever, ever,”

Mr. Ford said earlier this month as 150 fire crews battled 180

wildfires in Ontario, forcing many communities to evacuate.

The problem is, coming up with the money after fires are

burning is playing catch-up, addressing a problem when it

has literally become a raging inferno, by which point there is

often a scramble for personnel and resources.

Therewillalwaysbewildfires.Thequestionis,isitbetterto

invest in preparing for them to minimize the damage they

cause or scramble to fight them when they are already rag-

ing? The answer is obvious.

Investing more in preparation would help ensure the

province has the people and tools needed to fight wildfires.

Part of this is proper staffing. It’s normal that firefighters

from other parts of Canada, and even other countries, help

battle fires when they break out. But as fires become more

frequent, and widespread, relying on slack in the system is no

longer the safe assumption it used to be.

TheOntariounionthatrepresentswildfirefirefighterssays

the 156 fire crews that have been battling blazes in recent

weeks, each made up of four to six people, is well short of the

200 crews the province used to have. Spending money on

prevention could help hire and train the firefighters needed

when blazes erupt.

Mr. Ford’s announcement last week that the province will

spend $650-million to buy five new helicopters and six water

bombers to help fight wildfires is welcome news.

Ordering these planes is investing in preparation. But why

is this decision being made when smoke fills the sky and

communities are fleeing wildfires? It’s not as if these kinds of

shortages come as a surprise. Last year, three water bombers

had to be temporarily grounded because of a lack of pilots.

More investment in preparedness and prevention could

also be used to run evacuation drills with at-risk communi-

ties so the process can be completed much more efficiently

than the often haphazard race we have seen in several north-

ern communities this past week.

Eric Kennedy, an expert on forest fire management at York

University in Toronto, compares wildfire budgeting ap-

proaches across Canada with a car owner that tries to save on

oil changes or tire rotation and then has to shell out for a tow

truck when the vehicle breaks down.

He suggests provinces look to B.C.’s investments in risk re-

duction, including controlled burns, and FireSmart, a pro-

gram to make homes more resilient, as well as the White-

horse fuel break, a project to remove fuel-like trees from the

landscape, as examples of good practices for all to follow.

Investing in prevention and mitigation efforts pays off in

the long run. A study conducted by U.S. researchers and pub-

lished last month in the journal Science found that for every

US$1 spent on things such as forest thinning and prescribed

burns saved US$3.73 in wildfire damages.

How much should the province budget?

Ted Hsu, the Ontario Liberal critic for energy, mines, nat-

ural resources and forestry, has suggested using the average

amount spent through the emergency fund over the past

three years. That would produce a budget of $215-million, sig-

nificantly more than this year’s budget of $150-million.

However significant that number might seem, it will be

much less than the current costs wildfires are exacting.

The Canadian Climate Institute estimates that the health

care costs of forest fires in Ontario between June 4 and 8 to be

$1.28-billion in Ontario. That is only one week, in one prov-

ince. Wildland fire season is still months from ending, and

the total bill is yet to be tallied.

Mr. Ford is right that the money has been found when fires

LETTERS TO THE EDITOR

LOSE YOURSELF

Re “Like a bad ex, Donald Trump isaccidentallymakingCanadabe- come its best self” (Opinion, July 25): Reducing interprovincial trade barriers and dairy supply management no doubt would have positive effects on Canada’s bottomline,butwouldtheymake for a stronger Canadian society? The emasculation of the Cana- dian Wheat Board by the Stephen Harper government put nails into the coffin for the Western family farm; the destruction of supply managementwouldhaveasimilar effect on the family dairy farm. Doessupplymanagementactually raisecosts,orsimplyapplycoststo themarketplaceinsteadofdispers- ing them through subsidies and taxation as in the United States? Society struggles to compen- sate for the tendency of corporate wealth to travel up to a small pro- portion of the public, the bosses andtheelite.Canadabecomes“its best self” by becoming more self- reliant, but it must beware of los- ing its diverse social spectrum of mutual support and respect based, to a considerable extent, upon the complex structure of its economy.

Nicholas Tracy Fredericton

PLAN FOR PENSIONS

Re “Workplace pension plans have failed most Canadians” (Re- port on Business, July 22): The problem isn’t that most public sector workers have decent pen- sion vehicles, which they pay into throughout their working lives, it is that the private sector has re- treated from a meaningful role in adequate workplace pension sponsorship. These employers spoke against a bigger Canada Pension Plan, arguing that per- sonal savings and expanding workplace pensions would build a strong system for Canadian workers. Perhapswhatisneededisabig- ger CPP that provides better pen- sioncoverage.Thiswouldremove risk from private sector employ- ers, while offering a system for workers to fund decent pensions for their retirement years.

Paul Moist Winnipeg

It is revealing to consider the dra- matic differences between pen- sion plans offered in the public sector versus the private sector. The Canadian government should seek to level the playing field in the interests of all Cana- dians. It should provide a pension plan tax incentive. For example, giveprivatecompaniestaxbreaks for starting new plans and give slightly reduced tax incentives each year they maintain it, up to a maximum number of years.

Brian Strader Oakville, Ont.

over the years, and many smaller companies choose not to offer any plans to their employees. Employers understandably are concerned about the cost and commitment. For a lot of success- fulcompanies,ithasn’tbeenapri- ority. In 2015, the Ontario govern- ment proposed a universal pen- sion plan that would require en- rolment of all employees in the province not in a workplace pen- sion plan. It wasn’t implemented, but likely contributed to the fed- eral government expanding re- quired contributions to the Cana- da Pension Plan. This expansion has current costs, but benefits workers in the long run. But the Ontario proposal is still a great idea. Too many workers willretirewithoutworkplacepen- sions. Current levels of CPP and Old Age Security will leave many Canadians well short of comfort- able retirements.

Tony Hooper Toronto

BIGGER PROBLEM

Re “Chinese EVs are a bundle of security risks in a metal box. Do we really want them?” (Report on Business, July 21): You rightly flag the data security risks of Chinese electric vehicles, which collect and transmit location and per- sonal information. Yet a key irony goes unmen- tioned: Canadians already sur- render far more intimate data ev- ery day through our phones and apps from domestic companies. They can track everywhere we go, what we buy, what we browse, where we park. Bothsourceserodeourperson- al privacy. One just feels more for- eign. True privacy protection de- mands we address surveillance from every source.

Bryan Laskey Cambridge, Ont.

ANSWERS NEEDED

Re “Health Canada did not con- sult inspectors’ work in review of plasma donor’s death” (July 23): The tragedy of this death is mag- nified by the remarkable incon- sistencies that have been report- ed. It defies common sense that a young person would suffer a “temporally coincident” and un- related“nolinkage”cardiacarrest during an invasive procedure, whether or not they had an un- derlying condition. That known procedural deficits seemingly were not considered adds to the mystery. Plasma donation is critical and public participation requires con- fidenceintheprocess.MightIsug- gest a public inquiry or at least a coroner’s inquest?

WORK WHERE?

Re“Thementalhealthbenefitsof going to work” (Editorial, July 21) and “Who are Canada’s big city leavers? Mainly 25 to 44-year- olds, with young children” (Re- port on Business, July 21): Viable work from home for large num- bers of white-collar workers is a recent phenomenon catalyzed by maturing technologies and pandemic lockdowns. It became obvious that, in fact, highly dis- tributed work forces can be pro- ductive. Peopleandfamiliesrelocatefor many reasons. Cost of housing is important, but so are communi- ties seen as more social, interac- tive and safe than, say, Yonge and King streets in Toronto. Current tensions around management practices reflect older paradigms. We’re learning that many people urbanized for work not because they wanted to, but because they had to. Generational change is afoot, I suggest. The best and the bright- estwillhaveoptionsthatwerenot available during my working years. Successful companies and communities will be so because they recognize change, integrate new approaches and, most im- portantly, regard flexibility and openness as key attributes.

John Madill Oshawa, Ont.

Ifoundthiseditorialunintention- ally amusing. The seven years I spent driving across Highway 401 in Ontario was not good for my mental health. I consider long commutes a staggering waste of time and money.Andforworkerswithchil- dren, there are extra costs for day- care. Tothesefactors,wecanaddthe environmental impact of all the carsonallthehighwaysandroads and the accompanying gridlock. To the point about loneliness: If someone needs people, they can work from a coffee shop or li- brary, or spend time with friends and family when they are not spending time on a hideous com- mute. It’s clear to me that being in the office has nothing to do with pro- ductivity and everything to do with corporate control. Managers want their workers available to boss around. If employees are working re- motely and being productive, someone might realize managers aren’t actually needed.

Christopher White Hamilton

HAVE YOU HEARD THE ONE…

Re “Dad jokes may be the best jokes we can deploy” (First Per- son, July 24): This describes well the various good and bad reac- tions to bad and good jokes. But the question remains: When is a joke a dad joke? When it becomes apparent. Paul Rapoport Hamilton

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OPINION

OPINION

OPINION

We must focus on extending healthspan

We can’t fix everyone when they’re broken or sick, but we can do a lot more to prevent chronic illnesses and painful conditions

eople around the world are living longer. But they’re also living those additional years in poor health, a “morbidity gap” which is growing fastest in wealthy countries like Canada and the United States. That is the paradoxical conclu- sion of new research published in the most recent edition of the journal Lancet Public Health. “Progress in healthy aging should be measured not only in lifespan, but in healthspan,” said Christopher Murray, the lead re- searcher, and director of the Insti- tuteforHealthMetricsandEduca-

How India’s Gen Z protesters taught Narendra Modi a lesson

SANJAY RUPARELIA NEW DELHI

The Jarislowsky Democracy Chair at Toronto Metropolitan University, and senior fellow of the Asia Pacific Foundation of Canada

week is a long time in poli- tics: events catch govern- ments by surprise. The old quip was on fierce display in India over the past week. OnJuly20,tensofthousandsof students marched on parliament from Jantar Mantar, a famed pro- test site in the heart of New Delhi. Their demand: the resignation of the Union Education Minister, Dharmendra Pradhan, for failing toprotecttheintegrityofnational medicalschoolentranceexamsin May. The Bharatiya Janata Party- led government sent emissaries totalkwiththeputativeleadersof the protests, the Cockroach Jana- ta Party, which began as a satirical onlinememetwomonthsago.Yet themobilizationonlygrew.Police barricaded streets, closed metro stations and limited internet con- nectivity, deploying batons and tear gas to quell the mounting crowds. But their actions simply emboldened the youth who had gathered across caste, religion and class. A midnight video by Prime Minister Narendra Modi, promising to set up fast-track courts to investigate the exam scandal, failed to break the tide. On July 25, Mr. Pradhan resigned, almost unimaginable a month ago. What drove this momentous uprising? And what does it por- tend? The genesis of the CJP is re- markable. In May, the Chief Jus-

The UN’s Refugee Convention finds itself at a crossroads 75 years later

MICHAEL BARUTCISKI

A senior fellow at the Macdonald-Laurier Institute and a professor at York University’s Glendon School of Public and International Affairs

eventy-five years ago, West- ern diplomats gathered in Geneva to address the dis- placement crises of the early Cold War. Signed on July 28, 1951, the resulting Refugee Convention marked the first time widespread support was achieved for legally binding obligations that balance refugee rights with state interests. But decades of progressively expansive judicial interpreta- tions have drifted far from that original compromise, transform- ing the world’s primary refugee treaty – which openly accounted for state security and stability – into a vehicle for uncontrolled mass migration. If well-intentioned policy makers fail to introduce legisla- tive solutions that can temper excessively generous court deci- sions, and are not able to manage

tion (IHME) at the University of Washington School of Public Health in Seattle. IHME researchers analyzed data from the Global Burden of Disease Study from 1990 to 2003. In that time period, essentially ageneration,globallifeexpectan- cy increased to 73.8 years from 64.6 years, a difference of 9.2 years. But, over that time, healthy life expectancyroseto63.1yearsfrom 55.9 years, an increase of only 7.2 years. Stated another way, globally, the morbidity gap rose to 10.7 years in 2023 from 8.8 years in 1990. In wealthy countries the mor- bidity gap is even more dramatic than the global average: 14 years in the U.S., 13.9 years in Australia, and 13.7 years in Canada. Practically speaking, that means Canadians can expect to spend about 17 per cent of their lives in poor health. Women live longer than men, but also spend more years in poor health. Drivingtheyearsofpoorhealth are a handful of common condi- tions: Musculoskeletal disorders

Cockroach Janata Party supporters celebrate after the resignation of Education Minister Dharmendra Pradhan at Jantar Mantar in New Delhi on Saturday. PRIYANSHU SINGH/REUTERS

tice of India described unemploy- ed youth criticizing state institu- tions on social media as parasites and cockroaches. A student studying in Boston, Abhijit Dipke, responded by asking: “What if all the cockroaches came together?” Within a fortnight, more than 20 million followed the newly creat- ed party on Instagram, more than double the BJP. Government ef- forts to block the account faltered in the courts. In early June, Mr. Dipke return- ed to Delhi to launch a protest. A well-known activist, Sonam Wangchuk, began an indefinite fast in solidarity. Several other students joined him. Protests emergedinmajorcitiesacrossthe country as thousands of youth streamed into the capital. Severalgrievancesfuelledtheir

displacement humanely within realistic limits, anxious host pop- ulations will solve the dilemma themselves – by electing political insurgents who will gladly dis- mantlethesystemiftheestablish- ment refuses to mend it. As an instrument of the Cold War, the convention’s provisions focused heavily on the political concernsofWesternstates,partic- ularly since the communist bloc was not invited to Geneva. But re- interpretation of the adopted norms accelerated around the time the Berlin Wall fell. And in this new liberal internationalist climate,academicsandadvocates began arguing that the treaty’s main purpose was the advance- ment of refugee rights. Canadians havearguablyplayedadispropor- tionate role in driving this shift. The resulting interpretations would be unrecognizable to the drafters. In 1951, the treaty archi- tectscarefullylimitedkeynotions like “persecution,” while deliber- ately avoiding commitments re- garding whether the obligations should apply to mass flows or war refugees. Today, that careful balance has been upended by a unidimen- sional, rights-based focus aimed

like lower back pain, mental health conditions like depression and anxiety, hearing loss, and in- juries from falls. It’s not just the big killers like cancer, cardiovascular disease, diabetes, and chronic obstructive pulmonary disease taking the pleasure out of life, but non-fatal chronic conditions and disabili- ties that leave people living in constant pain, and often in isola- tion. Thedatatellusthatwehavebe- come exceptionally good at ex- tending lifespan, but far less suc- cessful at extending healthspan. A good deal of this can be ex- plainedbyourapproachtohealth care, where we spend profligately on medicine, and in a miserly fashion on prevention. The greatest contributors to shortened lifespan and health- span are lifestyle factors: Harmful behaviours like smoking and ex- cess drug and alcohol consump- tion, inactivity, poor nutrition, and trauma (both mental and physical). And,ofcourse,wecan’tneglect theroleofsocio-economicfactors like income, housing, education,

anger. First, the government re- fused to accept political respon- sibility for the medical exams leak, despite similar breaches in recent years. Millions of students and their families make huge fi- nancial sacrifices to prepare. The odds of succeeding are extreme. Leaks undermine fairness and create profound distrust. Second, their desperation re- flects a sober reality. India re- mains the fastest growing large economy in the world. Yet its cap- ital-intensive nature generates few productive opportunities. Of- ficially, the youth unemployment rate exceeds 16 per cent. The on- the-ground reality is severe un- deremployment. The majority of youth work in the informal sector and digitized gig economy, with many handling tasks far below

at maximizing the potential ben- eficiaries. While the treaty’s text has remained essentially un- changed since initial geographic and temporal limits were lifted in 1967, judicial decisions have fun- damentally expanded the strict individual persecution standard. By turning it into a broad umbrel- la for general human rights viola- tions, we have bypassed the origi- nal intention by bringing both mass flows and conflict-driven displacement under its purview. Most citizens in Western de- mocracieswanttohelpforeigners fleeing extreme mistreatment, but no state can commit to pro- viding refuge to limitless num- bers. This tension sits at the heart of current controversies with the Refugee Convention. For the academic and legal establishments, however, refugee law has been reconceived as a formof“surrogateprotection”for anyone emigrating from a coun- try with systemic human rights problems – a revolutionary ap- proach to international solidarity. Are Western societies truly pre- pared to welcome large popula- tions from every country current- ly experiencing conflict? If we in- terpret human rights broadly,

and physical environment, which often fuel poor lifestyle “choices.” There are important lessons here for health systems, especial- lythoselargelyfundedpublicly,as in Canada. Themainoneisthatweneedto do a better job of prevention, and of long-term disease manage- ment. We can’t fix everyone when they’re broken, or heal them when they’re sick, but we can do a lot more to prevent chronic ill- nesses and painful conditions. A striking example of this is lower back pain, which research- ers identified as the number one cause of life-altering poor health. In our sickness care system, we provide a lot of disease-specific care that is medically and techno- logically superb. But we tend to neglect what really matters to people – to have the ability and capacity to participate in every- day life. It’sgreatifyourbloodpressure, cholesterol and A1C levels are on target, but it’s more important if you can get yourself out of bed, go forawalk,pickupyourgrandchil- dren, and engage in conversation

their qualifications and skills, es- pecially university graduates. Finally, the protests crystal- lized mounting anger toward the BJP government in general. Its re- fusal to fire the education minis- ter reflected a deeper pattern of centralized unaccountable power between elections. The party lost its parliamentary majority in 2024, returning to office as leader of the National Democratic Alli- ance. Yet the setback failed to temper its will to power. The con- troversial deletion of more than 60 million voters from the electo- ral rolls in recent state polls, most of which the BJP and its allies won handsomely, sowed growing anx- iety. The youth mobilization in In- dia revived images of their Gen Z counterparts toppling govern-

many people worldwide could claim to be at risk. If interpreted in a way that im- plies we must examine every- one’s claim to protection, the Ref- ugee Convention indirectly pro- motes de facto open borders. Paradoxically, the system avoids collapse only because states rely onrestrictivevisaregimesandrig- orous offshore interdiction. This unspoken part reflects the under- lying hypocrisy. In Canada, this conundrum is reflected in the historic backlog at the Immigration and Refugee Board, alongside unprecedented strain on local resources. Over- whelmed municipal shelter sys- tems expose the daily disconnect between high-minded policy and therealityofreceptioninfrastruc- ture – with the result being the slow erosion of public goodwill. The 75th anniversary of the Refugee Convention offers a crit- ical opportunity to change this unsustainable trajectory. Today, the greatest threat to refugee dig- nity is not domestic xenophobia, thoughsocietiesmustremainvig- ilant against it. It may be a maxi- malist and activist reading of the historic treaty pushed by open- border advocates that has stifled

with your friends. One of the main reasons peo- ple are turning to options like medicalassistanceindyingisthat they are tired of living in pain, or joylessly. They want more quality of life, not just quantity of life. These days, there is a lot of fo- cusonlongevity.Butthatneedsto be amended to healthy longevity. As we age, a good question to ask ourselves is: What do we want thelast10or15yearsofourlivesto looklike?Dowewanttolivethem in pain, misery and isolation? The way to avoid that is not ex- pecting miracle cures, but to take preventive action earlier in life like remaining active (physically and mentally), eating well, avoid- ing harmful behaviours like smoking and drinking, and re- maining connected to family and friends. And the health system has an important role to play. As U.S. president John F. Ken- nedy famously said way back in 1963: “It is not enough for a great nation merely to have added new years to life. Our objective must also be to add new life to those years.”

ments in Sri Lanka, Nepal and Bangladesh in recent years. India is unlikely to join their ranks. Nonetheless, several lessons emerge. First, while opposition parties have defeated the ruling party in various state elections, mass social mobilization has posed a sharper challenge to the BJP in re- cent years. Protests against the Ci- tizenshipAmendmentAct,which violatedthesecularfoundationof the constitution, delayed its im- plementation from 2019 to 2024. More successful was the farmers’ agitationin2021,whichforcedthe government to suspend conten- tious agricultural reforms. Second, these recent protests represent a greater threat to the BJP. Many youth flocked to Mr. Modi during his rise to power, giv- en his digital savvy, sheer energy and promise to create millions of good jobs. Twelve years later, they are demanding better prospects, competent institutions and gov- ernment accountability with cre- ativity, humour and defiance. The ruling party cannot dismiss them as anti-national or foreign pup- pets. Its political authority has cracked. Finally, marches, protests and sit-ins embody democratic citi- zenship. But realizing the aspira- tions voiced by India’s youth re- quires opposition parties to re- form their organizations and transcend partisan differences, and public servants to carry out their responsibilities. Only then can they channel the demands of the street into effective policies and revitalize democratic govern- ance. This is an Indian story. Yet its ingredients are common in many democracies today. Governments should heed the lessons.

candid, pragmatic debate. Refugee protection can only surviveifitretainsthedemocratic support of host populations. Without it, public goodwill will continue to dry up, leaving gov- ernments to scramble with short- sighted,improvisedburden-shift- ing schemes. Crucially, sovereign states are not permanently bound by ex- pansive judicial decisions, even if it is reasonable for the interpreta- tion of international treaty law to evolve. National parliaments pos- sess the authority to amend do- mestic legislation to clarify am- biguous legal terms. By codifying precise thresholds for asylum, most legislatures can effectively override a judiciary and restore the structural parameters origi- nally intended by the treaty. Thecentralpredicamentisthat few political leaders in the West possess the courage to confront the contradiction characterizing modern refugee law. Instead, mainstream politicians maintain a facade of humanitarian con- cern, failing to recognize that sus- tainable policy requires empathy in both directions – toward needy foreigners, and toward the citi- zens asked to absorb them.

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A12 O THE GLOBE AND MAIL TUESDAY, JULY 28, 2026 LIFE & ARTS OPINION OPINION: PUZZLES WEATHER

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Y

At Twelfth Night, the park is the star

Canadian Stage’s outdoor production accommodates the unpredictability of the weather and its audience

Twelfth Night AT THE HIGH PARK AMPHITHEATRE IN TORONTO

Adapted and directed by Gregory Prest Performed by Caroline Toal, Ghazal Azarbad, Farhang Ghajar, Rick Roberts, Navtej Sandhu, Mike Shara, Steven Sutcliffe and Justin Otto

hoever coined the tru- ism that you should nev- er make theatre with animals or children – no matter what, they’ll upstage the other ac- tors – likely never attended Dream in High Park. Every year, thousands of To- rontonians, their kids and their dogs travel to Toronto’s West End for an outdoor production of a play by William Shakespeare. In- variably, their experience is shaped by the conditions of High Park: Is it too hot? Too chilly? Is a squirrel intent on stealing the snacks you so carefully tucked awayforlater?Isitraining?(Or,in the case of this year’s scheduled opening night, so smoky that the performance had to be can- celled?) As such, the challenge for a giv- en Dream’s director is twofold: First, they must craft a show that pleases the Shakespeare purists in the amphitheatre. That’s no small feat, given the chosen play must be pared down into a 90- minute cut. But they also have to leave enough flexibility for the production to adapt to whatever the conditions of the park may be on a given day. Twelfth Night, directed and adapted by Gregory Prest with an emphasis on the play’s central

Carly Simon reveals she’s been diagnosed with Parkinson’s disease

MARIA SHERMAN NEW YORK

ou’re So Vain singer Carly Si- mon has been diagnosed with Parkinson’s disease and was recently treated for skin cancer, the singer shared in a statement provided to the Associ- ated Press. “So many people have written to me, kindly wondering about my relative silence, asking how I am and what I have been doing. The truth is, I’ve been learning how to live with Parkinson’s dis- ease,” Simon’s statement on Monday read. The singer, 83, had been expe- riencing arthritis in one of her hips and both her knees, result- ing in replacement surgeries for those three joints. But her mobil- ity continued to decline. At times, she said, she could not walk with- out “considerable help.” “My family and I knew that something more was going on. After an extensive evaluation at

ASSOCIATED PRESS

Caroline Toal and Farhang Ghajar star in Twelfth Night, directed and adapted by Gregory Prest with an emphasis on the play’s central love triangle, at Toronto’s Dream in High Park. PHOTOS BY DAHLIA KATZ

Steven Sutcliffe plays Clown Feste, who welcomes viewers into the amphitheatre with a prayer to the heavens – no rain, please, no rain! – and the assertion that ‘love is merely a madness,’ nabbed from Rosalind in William Shakespeare’s As You Like It.

love triangle, skillfully walks the line between silly and solemn. Prest’s cut is stronger in its sec- ond half: Newcomers to Shakes- peare’s comedy may struggle to keep up with crucial plot points, as well as the play’s many, many names, in the beginning. But on the whole, the produc- tion sings. (Literally, sometimes:

Carly Simon, who has been diagnosed with Parkinson’s, a neurological disease, says ‘It has taken me some time to understand the diagnosis, to adjust to it.’ CHARLES SYKES/ASSOCIATED PRESS

the Mayo Clinic, I was diagnosed with Parkinson’s,” she said. “It has taken me some time to understand the diagnosis, to ad- just to it, and to decide how much I wanted to say about it publicly,”

A few of sound designer and com- poser Olivia Wheeler’s songs sound like sea shanties, while others are more contemplative, underscored by a lilting lute.) Ac- tors Caroline Toal and Ghazal Azarbad volley their heartsick lines as if competing at a pickle- ball tournament. Mike Shara, Navtej Sandhu and Justin Otto,

she explained. “Parkinson’s is dif- ferent for everyone, and it can be unpredictable. Some days I’m so tired I can’t get the day moving at all. On others, it gives me a little more room to move, think, work,

Make a difference for

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 September 19, 2026

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meanwhile, strike gold in Twelfth Night’s funnier, less anguished in- terludes. The story’s much the same as it’s always been, minus its open- ing. “If music be the food of love, play on” is replaced here with a number of quotes from Shakes- peare’s other plays. Clown Feste (Steven Sutcliffe) welcomes us in- to the amphitheatre with a prayer to the heavens – no rain, please, no rain! – and the assertion that “love is merely a madness,” nabbed from Rosalind in As You Like It. We soon meet Viola (Toal, who recycles the warmth that made her Anne Shirley so irresistible at last year’s Stratford Festival), stranded in the mythical land of Illyria and separated from her twin brother Sebastian (Ori Black). Viola soon disguises her- self as a man, working as a page for a duke named Orsino (and with whom she quickly plum- mets in love). The problem, of course, is that Orsino loves Olivia (Azarbad), an Illyrian noble’s daughter, who in turn loves “Cesario” – a.k.a. Viola. Thelovetrianglethentwistsinon itself, riffing on the fluidity of

and feel like myself.” Parkinson’s is a neurological disease that robs people of con- trol over their movements. It typ- ically starts with tremors and is characterized by slow movement, a shuffling gait, stiff limbs, bal- ance problems and slurred speech. About one million Amer- icans are living with Parkinson’s, and 10 million people worldwide, the Parkinson’s Foundation esti- mates. It usually appears after age 60, though it sometimes devel- ops before age 50. The exact cause isn’t known, but Parkinson’s de- velops when cells that produce one of the brain’s chemical mess- engers – dopamine – begin to de- teriorate and die. There is no cure, but there are treatments including medica- tions that affect dopamine levels and a surgically implanted trem- or-blocking device. Patients also can benefit from physical and oc- cupational therapy. “I began treatment, including taking medication to help with

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gender and sexuality with a sur- prisingly modern bent (and with hardly a word changed by Prest). Trouble, meanwhile, is brew- ing in Olivia’s court: The can- tankerous Malvolio (Rick Ro- berts) has found himself the tar- get of a series of mean-spirited pranks by Sir Andrew Aguecheek (Otto), Sir Toby Belch (Shara) and Maria (Sandhu). The trio of tricksters devises a plan to make Malvolio think Olivia has fallen madly in love with him – in fact, she’s repulsed by the grump, and even more so by the garish yellow stockings he’s been duped into wearing in her presence. Prest stages the work, delicious in its complicated tangle of false identities and unrequited crush- es, with a light touch. His interjec- tions are minimal, and especially past the midway point, his adap- tation hardly shows its seams. A few production elements could be smoother: Wheeler’s sound design fuzzes the actors’ diction into near-obscurity at times, while costume designer Sim Suz- er’s choice of hat for Feste com- pletely blocks Sutcliffe’s face whenever he turns left or right. But by and large, the fizzy rom- com goes off without a hitch. If there’s one thing I enjoyed most about Twelfth Night, howev- er, it’s the ways in which the pro- duction accommodates the vast array of audiences who might happen to stumble across the High Park Amphitheatre. On Sunday evening – rain-free! – I watched as young children happily sketched Suzer’s set and costumes, eavesdropping as they asked intelligent questions about the storylines they didn’t under- stand. I smelled picnics from some of Toronto’s most beloved dining establishments (and somewhat regretted not picking up a pizza from Blondies on my way to the park). I smiled as young infants fell asleep in their parents’ arms, and as hounds barked happily on the surround- ing trails. Don’t make theatre with kids and dogs? Please. At Dream in High Park, the park’s the thing – and on this occasion, the play’s not half-bad, either.

Twelfth Night runs until Sept. 6.

stiffness and other symptoms,” Simon said. “There is no tidy or predictable schedule to the ill- ness. It does not consult my cal- endar before deciding what kind of day I am going to have.” She also shared that she was treated for basal cell carcinoma, a common form of skin cancer, on her face at the same time. She had surgery, and the cancer was re- moved, “but the surgery affected my appearance and made me more self-conscious about being seen in public,” she said. She said music has been a salve, and on Aug. 14, she will re- lease Comes in Waves, her first al- bum of original songs since 2008. “Working on the music gave shape to days that did not always have much shape. It gave me somewhere to go without having to leave the room,” she contin- ued. “It reminded me that illness can change your life without be- coming the whole of your life.”

Page 13

I

ILLUSTRATION BY CATHERINE CHAN

My scar is a reminder of the body’s resilience

FIRST PERSON

After I almost died from

a disease, all I wanted to do was cover up the link I will never be able to sever. Now, I embrace it, Renee Alkass writes

can remember the first scar I ever got. It happened as I assume most children’s first scars hap- pen. By accident. My right elbow scraped the pavement, blood

TODAY’S SUDOKU SOLUTION

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rushed down my forearm and in- to the gravel. Now, I can barely see the scar, but it’s the memory of tumbling that I will never for- get – of being okay one minute and not okay the next. Throughout my 27 years, I’ve acquired many more scars. There are a few on my fingers from my sloppy kitchen knife skills, one on my thigh from a nasty fall while figure skating, and another on my foot, courtesy of my moody cat. However, I have one scar that is the most prominent. It’s the one stamped on my neck. The one everyone thinks is a big, fat hickey.

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It was given to me eight years ago when a mysterious autoim- mune disease gnawed at my body. For reasons my doctors couldn’t figure out, I was dying. After three months of persistent upper respiratory infections, weight loss and failed healing, both of my lungs collapsed. The hospital ICU team quickly real- ized I needed to be intubated and put on the most extreme form of life support: ECMO. Medically known as Extracorporeal Mem- brane Oxygenation, this machine can temporarily work as the heart or lungs, taking over to supply oxygen and circulate blood. In cases of cardiac arrest, heart failure or severe respiratory failure, such as the one I experi- enced, ECMO is a last resort. My doctors made a choppy in- cision in my external jugular vein to insert a tube the size of a gar- den hose. Blood pumped out of my body and into ECMO’s me- chanical body. There, it removed carbon dioxide and added ox- ygen before returning it to my circulatory system. The machine saved my life and for that, I am eternally grateful. But the scar I’m left with feels like a link I will never be able to sever – it will for-

ever be a reminder of the worst thing that’s ever happened to me. The scar has taken an odd shape. It appears to be the work of a young child learning to sew. It’s jagged, zigzagged and twist- ed. It never healed flat and re- mains raised, almost as though the skin refuses to forget. I’ve al- ways been annoyed at the colour. It’s gone from dark red to murky brown, like I’ve forgotten to wipe the dirt off my neck. My mom tells me to embrace my battle wound. To flaunt it rather than fear it. “It’s a part of you now,” she says. “It’s the thing that makes you, you.” I was annoyed that she was right. My scars are proof of life. They are a part of my story now and I can’t unwrite the past. But overcoming insecurities is never easy. After being discharged from my month-long stay at the hospi- tal, I refused to wear my hair up. I didn’t want the world to see my neck. I could tell when someone was staring and I tried to avoid their curiosity altogether. If someone dared to ask what hap- pened, I’d say, “it’s a long story,” or I’d dodge the question entire-

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ly. Avoiding the truth was much easier than facing it head-on. But this past year, something in me has changed. Maybe it’s all the therapy I’ve paid for, or sim- ply the act of aging, but I’ve be- come less obsessed with hiding and more focused on releasing. I began to think: why should I car- ry the tension of hiding some- thing I’ll never be able to erase? Just the other day, with my hair slicked back into a tight bun, a new friend asked about my ECMO scar. For the first time, I decided to tell my entire truth. In the middle of a busy coffee shop, I rambled on about my hospital experience, and to my surprise, their response was gentle and en- couraging. I could see the sparkle of awe in their eyes. It was almost as though my scar had become a tiny reminder of how the body can survive despite it all. And I don’t think there is any- thing more freeing than that.

Renee Alkass lives in Simcoe County, Ont.

First Person is a daily personal piece submitted by readers. Have a story to tell? See our guidelines at tgam.ca/essayguide.

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Page 14

TUESDAY, JULY 28, 2026

1.

1 Ease into it 10 Singer who dropped the $ from her moniker in 2014 15 Head honcho 16 Marine apex predators 17 Took a night course? 18 Emanation from a bakery 19 Japanese garden descriptor 20 Prefix meaning “fake” 22 Cupid’s Greek counterpart 23 Stage name of “Clarity” DJ Anton Zaslavski 25 Bygone Sony console, for short 26 Ten-cent coin 27 “Nice to ___ Other” (Olivia Dean song) 31 Serpentine fish 33 Understand 34 Party item that’s subject to inflation? 38 Cartoon about Finn and his magical dog Jake 39 Way out if crisis strikes 40 Poli- ___ 41 No. in an email signature 42 “Present!” 43 Campbell’s soup containers 45 Tax Day’s month: Abbr. 47 Baseball card datum 51 Spanish word hidden in “chariot race” 52 Find on Google 56 “Gross!” 57 Uncivil uprisings 59 Disclaimer before a mean remark? 61 “Genuinely!”

BRIDGE BY STEVE BECKER

West dealer. North-South vulnerable.

The bidding:

West North East South Pass 1 [D] Pass 1 [H] 2 [C] 4 [H] Opening Lead – king of clubs.

CRYPTIC CROSSWORD

    



   





ACROSS 1 People struggling to get these advantages (8) 5 Chatter quietly and catch one’s breath (4) 8 One may be thrown into the air in driving accident (5) 9 Wow! I am a reporter (7) 11 Misfortune contributing to evil life (3) 12 Very obvious trail grew confused (4,5) 13 No longer fit? Blow! (6) 15 Dog set about heavy food (6) 18 Hall I’ve sublet needing renovation (9) 19 A little butter is exactly right (3) 20 Around a mile, navigate ship (7) 21 Traditional tales about one river (5) 22 Spots rook in front of tree (4) 23 Lose grasp of modern technology? Not a chance (6,2)

DOWN

1 Flashiness 2 Student receiving one-on-one instruction 3 Formally revise 4 Color that, ironically, bulls can’t see 5 Voyage 6 Ares and Apollo, to Zeus 7 Debussy’s “Clair de ___” 8 Do better than 9 Puzzle made of letters in a grid (wait a minute ...) 10 Hawaiian tree that’s an anagram of a tree with acorns 11 Miscalculated 12 Artistic portmanteau for unique NFL final tallies 13 Brunch dish that Sam-I-Am would probably enjoy 14 How cutlery is usually sold 21 Symbol of watchfulness 24 Dig deeply (into) 28 Watchful 29 Solidify, like cold gravy 30 Places to swim away? 32 1.06 quarts 34 Romantic getaway, colloquially 35 Something taken in moderation? 36 Convent figure 37 Shakes, as cocktails 40 Treats with disdain 44 “Gymnopedies” composer Erik



© News Licensing/Times Media Limited

DOWN 1 After collapsing Deb dies, her loved ones here? (7) 2 Volume received during Christmas, a piece of fiction (5) 3 Cambridge college is suitable for prince, by the sound of it (11) 4 Tease, grabbing one left in the half-dark (6) 6 Maintained a verse went wrong (7) 7 Gang’s attitude holding spades (5) 10 Withdraw advert to stop something happening (4,3,4) 14 Gets a move on and bears ten sons? (7) 16 Beg to go in, short of energy, and take food (7) 17 Book quantity of liquid oxygen (6) 18 Face mask — guest loses it (5) 19 Indicate place for full stop (5)

EDITED BY AIDAN DESHONG

46 Saoirse of “Lady Bird” 48 Poke fun at 49 “Shucks, thanks!” 50 Dance move associated with bounce music

A fine declarer plays many hands as though he can see through the backs of the cards. For a good example, examine this deal from the 1978 Olympiad pairs. It might seem that at four hearts declarer must lose four tricks – two clubs, a spade and a heart – but that’s not the way it turned out. West led the king of clubs and continued with the ace after East played the nine. West then led the jack, which declarer, Peter Nagy, ruffed in dummy with the king of hearts. East in the mean- time had discarded a spade and

SUDOKU DIFFICULTY RATING: HHIII

INSTRUCTIONS Fill in the grid so that eaCh row of nine squares, eaCh Column of nine and eaCh seCtion of nine (three squares By three) Contains the numBers 1 through 9 in any order. There is only one solution to eaCh puzzle.

INSTRUCTIONS

KENKEN

©2026 KENKEN Puzzle LLC. KENKEN is a registered trademark of Nextoy, LLC. Dist. by Andrews McMeel www.kenken.com

Each row and each column must contain the numbers 1 through 6 without repeating.

53 LA hoopster Martin 54 Eyeball layer that includes the iris 55 Extra job benefit 58 To be, in Tulum 60 Tear

a diamond on the second and third clubs. Nagy now led the nine of hearts from dummy, a very farsighted play, and went up with the ace after East followed low. When West showed out, Nagy led a spade to the ace and returned the seven of trump, covered by the eight and jack. Next came a diamond to the king, followed by the four of trump, covered by East’s five and declarer’s six. After cashing his last trump, the queen, Nagy led the queen of clubs, which East refused to ruff because he

would have to return a diamond to dummy’s A-J. This merely postponed East’s agony. Declarer next led a spade to dummy’s king, presenting East with the choice of whether to ruff and return a diamond or whether to discard and allow de- clarer to score the king of spades as his ninth trick. In the latter case, dummy would then cash the king of diamonds for his 10th trick. And so, thanks to his care- ful play, Nagy made four hearts where most of the other declar- ers in the same contract failed.

©2026 King Features Syndicate Inc.

SOLUTIONS

YESTERDAY’S UNIVERSAL CROSSWORD

YESTERDAY’S CRYPTIC CROSSWORD

3 , 1 . ) / $ 0 , 1 * 2 5 8 & , $ 2 1 2 / ' 6 $ / 7 ' , & . < 9 * 6 7 $ $ ; ( 9 ( 1 7 / $ 0 ( 1 7 5 5 ( ' ( % 5 ( & 2 1 % ( $ & 2 1 6 6 $ , 3 & 3 5 < , 1 * $ 7 6 ( $ & ' ' + & $ / + 2 5 6 ( 2 7 + ( / / 2 $ 8 $ 5 ( 9 3 5 $ 0 % / , 1 * 5 2 6 (

Page 15

Toronto mayor

wants island land returned

With airport expansion nixed, province should give back recently expropriated property, Olivia Chow says

LIAM CASEY

Toronto Mayor Olivia Chow wantsthecity’sislands’landback. The mayor said Monday the Ontario government should re- turn lands it recently expropriat- ed through new legislation, which was part of a push from Premier Doug Ford to expand the Billy Bishop Toronto City Airport to allow jets to land and take off from it. Her demands came after feder- al Transportation Minister Steven MacKinnon rejected Mr. Ford’s is- land airport expansion plan last week after receiving feedback through public consultation. “Return our waterfront to us,” Ms. Chow said Monday on social media. The mayor said she and Coun- cillorAusmaMalikfiledanurgent motion to city council, demand- ing land in and around the island back. The motion is considered urgent because it is the last time city council will sit this term be- fore the provincial legislature re- sumes in the fall, the document said. Ms. Chow wants the province to repeal Bill 110, which became law in early June. That law gave the province the ability to take over the entirety of the Toronto Islands, though the province said it would only take what’s neces- sary despite the language in the legislation. The province also booted the city from a long-standing tripar- tite agreement that governs Billy Bishop airport. Ontario took over the city’s spot in that agreement, joining the federal government and the Toronto Port Authority, an arm’s-length federal agency. Port Authority CEO RJ Steen- stra, who was bullish on the ex- pansion, said at a committee hearingonthebillthattheairport expansion would cost between $4-billion and $5-billion over 25 years, and would be paid for by passengers and airlines. The airport’s passenger termi- nal is owned by Nieuport Avia- tion, which is controlled by J.P. Morgan Asset Management, a U.S.-based firm. Ms. Chow said she has still not

Pedestrians pass Little Norway Park in Toronto, alongside Billy Bishop Airport lands, on April 24. DUANE COLE/THE GLOBE AND MAIL

Tests: Albertans who discover illnesses other than cancer will not be reimbursed

FROM A1

FROM A1

Alberta was the first province to allow private, out-of-pocket MRI scans. Canada’s first private MRI clinic opened in Calgary more than 30 years ago and several other provinces now also permit privately paid tests such as MRI and CT scans, though typically with a referral from a doctor. The Official Opposition Alber- ta NDP criticized the new plan on Monday, saying it will only benefit those willing to pay thou- sands of dollars for tests. In October, Ms. Smith and Adriana LaGrange, then-minister of primary and preventative health services, announced com- ing changes that would allow Al- bertans to privately purchase “any diagnostic screening and test services they wish,” includ- ing MRIs, CT scans, full-body scans and blood work. Out-of-pocket costs would be fully reimbursed if the purchased test revealed a “significant or critical condition,” Ms. Smith said in a video posted last

seen those plans. “We have been demanding to see the plans, despite the Toronto Port Authority actively hiding them,” Ms. Chow said in her post Monday. “We have researched the im- pacts on housing, the environ- ment, congestion, and more. We havediscoveredwhowouldbene- fit – like the Wall Street bankers at JP Morgan. Council has formally opposed the unacceptable over- reach. We still do.” On Friday, Mr. MacKinnon said thefederalgovernmentisfocused on safety upgrades currently tak- ing place at the airport “at this stage.” “We will not pursue any plans that infringe on treasured public spaces like Little Norway Park or Hanlan’s Point Beach, result in elevated noise, have significant environmental impacts or hinder Toronto’s ability to build much- needed housing,” he said in a statement. At the time, Transportation Minister Prabmeet Sarkaria said the province will continue to push for an expanded airport – a statement his office said still stands Monday. “As this work continues, we look forward to seeing and antici- pate a plan that ensures the pro- ject protects public spaces, in- cluding the Toronto Islands, ad- dresses potential noise and envi- ronmental impacts, expands and improvesLittleNorwayPark,sup- ports new housing opportunities in the area, and delivers lasting benefits for local communities,” the minister said Friday. Provincial opposition parties cheered the federal government’s decision and urged Mr. Ford to back down. “Right now, Bill 110 is still law,” said NDP Leader Marit Stiles. “Doug Ford has given himself the power to do whatever he wants with Little Norway Park and the Toronto Islands. It’s time to end this land grab, kill Bill 110, and return Toronto Island and Little Norway park back to Toron- to.” Provincial Liberal legislator Adil Shamji called Bill 110 a “ter- rible deal.” “That legislation should be torn up,” he said. “This is yet an- other in a series of examples in which Doug Ford makes wild promises for pipe dreams and pet projects without ever doing his homework.”

THE CANADIAN PRESS

October. Monday’s announcement lim- ited the scope of that promise. Beginning Friday, Albertans who uncover a new cancer diagnosis will be reimbursed for the cost of their test but won’t see their costs covered if they discover a different illness. The new rules will let private clinics set their prices for diag- nostic tests allowed under the regulations. The government will reim- burse scans and tests at pre- scribed rates that will be publish- ed publicly on Friday. “We just want to put the pow- er in the hands of the patient so that they can get those peace-of- mind tests and hopefully get the all-clear,” Ms. Smith said. “But if they do end up getting some- thing diagnosed, we want them to be reimbursed so that they can get directly into treatment.” Justin Wright, Alberta’s Minis- ter of Primary and Preventative Health Services, said the prov- ince chose to begin with cancer diagnoses so it could build out a

The new rules will let private clinics set their prices for diagnostic tests allowed under the regulations. The government will reimburse scans and tests at prescribed rates that will be published publicly on Friday.

Siblings Serge Pisapia, 70, and Christine Pisapia, 62, volunteer together for the Kidney Transplant Ambassador Program at the Montreal General Hospital. Ms. Pisapia donated a kidney to her brother in 2014. LISA MILOSAVLJEVIC/THE GLOBE AND MAIL

Transplants: Program helps to recruit

new volunteers, allows patients to give medical professionals insight into their experiences

“I speak to a lot of potential recipients and I help to demystify and alleviate their fears and their anxieties,” Ms. Pisapia said, adding her brother could have benefited from speaking to someone like her. “They get to see, in the flesh, somebody who has been through it and is doing quite well.” A campaign is under way to enroll more vol- unteers. A new recruit in Quebec is 34-year-old Jonathan Vanderzon, a Canadian actor. In March, 2024, Mr. Vanderzon had surgery to remove his left kid- ney to give it to his close child- hood friend who was in renal fail- ure. The operation followed a nine-month process for Mr. Van- derzon to be medically cleared to be a donor. Mr. Vanderzon said the recov- ery process was fast; he was line- dancing a mere three weeks after his operation. His friend is doing well, too, and has been able to traveltoNewZealand.“Mykidney is better travelled than I am,” Mr. Vanderzon said with a laugh. He said the surgery also left him with something lasting. “Most of all, becoming a living do- nor meant I got to keep my best friend around, so that’s the num- ber one.” Mr. Vanderzon looks forward to volunteering as an ambassador with the program. “I just wanted to get the word out,” he said. “I wanted people to know that it was an option that it hasn’t impacted my life in a negative way whatsoever. It’s only been good.” Mr. Pisapia has valued the chance to spread awareness through the ambassador program. Additionally, he said volunteering affords him with something in return: New insight into the thought process of donors, which he has discovered is often quite emotional. After hearing personal stories, he has a new appreciation for what they want to do and how it affects them. “They have a mission and they’re driven to achieve that mission,” he said. “If the recipients like me, the reluctant recip- ients, only knew that level of mission, maybe they would feel less guilty or responsible to have to put someone else through this.” The ambassador program also buoys efforts of medical professionals. Vicki Tan, an advanced practice nurse at the Montreal hospital, said while they can offer medical expertise, they do not have experience living with chronic kidney disease and how it affects day-to-day life. “It’s something that we were missing be-

They have a mission and they’re driven to achieve that mission. If the recipients like me, the reluctant recipients, only knew that level of mission, maybe they would feel less guilty or responsible to have to put someone else through this.

“sustainable” system that doesn’t overburden services. Jaye Lang, spokesperson for Mr. Wright, said in an e-mail that the province has always planned a phased approach, and that fu- ture expansion “will be consid- ered over time.”

fore,” she said. “We can do the teaching, but we don’t fully understand what somebody goes through.” Ms. Tan said in addition to the time required for patients to receive dialysis, it is draining on the body and affects quality of life. Ms. Pisapia said her brother did not know that being on dialysis, which replicates the kid- ney’s function to remove harmful waste prod- ucts, is designed to serve as a bridge for patients before a transplant. While she said the procedure keeps patients alive, it is associated with consid- erable costs for the health care system. The Kidney Alliance, a nation- al non-profit made up of donors, patients and their loved ones, pegs this figure at $100,000 per patient per year. By contrast, the cost of a trans- plant is approximately $100,000 in the first year but tapers in sub- sequent years to about $20,000 annually. The alliance says more trans- plants would relieve burden on increasing health care costs in a system that is overstressed. Despite making her pitch to her brother, Ms. Pisapia was not, in the end, the one to convince him to go ahead with receiving the transplant from her. He only agreed after a surgeon advised that it was medically preferable to accept his sister’s kidney rather than receive one from a deceased donor. The average length of time a patient can keep an organ from a live donor is longer than from someone who is dead. On the morning of Nov. 6, 2014, the siblings went into adjacent surgery rooms at the Royal Victoria Hospital in Montreal. In one, Ms. Pisa- pia’s kidney was removed. In the other, it was transplanted into Mr. Pisapia. Before she was wheeled into her OR, Mr. Pi- sapia said he remembers his sister, a trained pilot, giving him a thumbs up from the stretch- er. He also recalls that she was smiling and looking confident. “It also gave me confidence, of course, to see that she was in this kind of mood before going to the operating table,” he recalls. Later, after the two procedures were com- plete and sedation medication had worn off, the two shared an emotional reunion in hospi- tal gowns, amongst some family members in a hospital room. There, they held hands, with needles in their hands for IVs, and shed what Ms. Pisapia de- scribes as “tears of joy,” over a life-defining ex- perience they went through together. Mr. Pisa- pia’s life was saved.

SERGE PISAPIA KIDNEY TRANSPLANT RECIPIENT

While the system is a first for Alberta, its health agency has previously offered reimburse- ments for private tests on a much smaller, unofficial basis. There are few similarities between that former policy and Alberta’s new self-referral sys- tem. Documents obtained through a freedom-of-information re- quest show Alberta Health Ser- vices, the province’s health agen- cy, had operated since 2011 under what it described as an informal and unapproved policy reim- bursing small numbers of pa- tients who paid out-of-pocket for urgent MRI, CT and PET/CT scans at private clinics through a doctor’s referral. AHS recommended discontin- uing that policy in March, 2025. The documents say roughly 40 to 50 people submitted reimburse- ment requests annually, with about 10 per cent of those being approved. The redacted docu- ment said applications were of- ten rejected because AHS’s previ- ous criteria were never commu-

nicated. “In many cases, ordering pro- viders have incorrectly informed patients that they will be reim- bursed without following the ap- propriate steps, resulting in un- realistic expectations,” said the briefing note recommending the policy be discontinued. Alberta Health Services did not respond to a request for comment asking when it discon- tinued the program. Sharif Haji, a health critic for the Alberta NDP, said in a state- ment that the new rules are evi- dence that Ms. Smith’s govern- ment has “given up on fixing public health care.” “Today’s announcement guar- antees faster access to diagnostic tests for those who can afford to pay thousands of dollars for some tests, while everyone else is left waiting even longer,” Mr. Haji said. The federal Health Ministry did not respond to a request for comment.

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S&P/TSX 35,568.14 +199.04

T

Brookfield’s

Middle East private equity fund raises $2-billion

K

JAMES BRADSHAW INSTITUTIONAL INVESTING REPORTER

Brookfield Asset Management Ltd. is pressing ahead with its expansionintheMiddleEast,rais- ing money for a regional private equityfundandinvestinginener- gy infrastructure despite the threats to trade and security from the Iran war. Brookfield announced Mon- day that it has raised about US$2- billion for the first close of Brook- field Middle East Partners, or BMEP, a fund conceived in 2024 that aims to invest half its capital inSaudiArabiaandtherestacross countries such as the United Arab Emirates, Qatar, Oman, Kuwait and Bahrain. Saudi Arabia’s Public Invest- ment Fund, or PIF, a sovereign wealth fund that manages US$910-billion, is the anchor in- vestor in BMEP. Brookfield has also raised money from other regional and global investors that were not identifiedinMonday’sannounce- ment. The money raised so far includes a US$500-million com- mitment Brookfield made to the fund.Thefundisexpectedtohave itsfinalcloselaterthisyear,which couldpushitstotalassetspastthe US$2-billion mark. The war in Iran, which quickly drewinothercountriesacrossthe region as Iran attacked key infra- structure such as Qatar’s Ras Laf- fan liquefied natural gas complex with rockets and drones, was ex- pected to make investing in the region more fraught the longer it dragged on.

BROOKFIELD, B6

U.S. Federal

Reserve’s new chair Warsh faces his biggest test to date

COLBY SMITH

evin Warsh faces a pivotal choice this week at his sec- ond meeting as chair of the Federal Reserve. He has staked his reputation on getting infla- tion down after half a decade of its running too high for the cen- tral bank’s liking. Now, he must decidewhethertopushforhigher borrowing costs to shore up that pledge. Wednesday’s decision offers Mr. Warsh his first real opportuni- ty to assert himself, with risks in both directions. Compelling his colleagues to raise interest rates would be a surefire way to keep in check the public’s expectations about infla- tion while silencing critics who question Mr. Warsh’s appetite to go beyond talking tough to curb price pressures. The pitfalls are plentiful, how- ever, depending on how Mr. Warsh justifies it. A rate rise on the heels of rela- tively benign inflation data has the potential to sow confusion about how officials will respond to shifts in the economy, testing financial markets that are already jittery amid a re-escalation in the war with Iran that has yanked oil prices back around US$100 a bar- rel. Mr. Warsh might also have to contend with criticism from U.S. President Donald Trump, who tapped him for the job and has made clear his desire for lower rates.

S&P 500 7,413.18 +1.20

DOW 52,210.08 +262.83

Anxiety around U.S. relationship taking a toll

on business investment in Canada, survey shows

SOPHIA BERTUZZI

COMPANIES

After 16 months of shifting trade policies and tense relations with the United States, persistent uncertainty continues to ham- per business investment in Canada – but a surveyfindsfewcompaniesareplanningto expand operations into the U.S. or relocate there. TenpercentofCanadianmanufacturing firmsplantodelaymajorinvestmentsover the next 12 months in response to U.S. tar- iffs, compared with 5 per cent of all busi- nesses,accordingtoaquarterlysurveycon- ducted by Statistics Canada in partnership with the Canadian Chamber of Commerce. The survey was conducted between April 1 and May 6, and included more than 9,200 responses. Because of the time frame,itdoesn’taccountforreactiontothe

ASIA Even China’s AI majors can’t figure out how to profit off the tech B3

ROB CARRICK What it’s like to retire during an era of high inflation B8

INVESTING TSX stocks that could offer defence against volatile markets B9

GEORGE WESTON ................. B9 LOBLAW ................................ B9 MAPLE LEAF FOODS ............. B9 PREMIUM BRANDS ................ B9 TMX GROUP .......................... B9

NASDAQ 24,932.08 -43.74

SHEIN IPO DRAWS SCRUTINY

Investors concerned the fashion giant might not be able to justify the valuation of up to $50-billion it seeks in its Hong Kong debut B2

Customers visit a Shein pop-up store in Toronto in May. The company issued a prospectus on Sunday that showed slowing growth and a sharp decline in profitability. LAURA PROCTOR/THE GLOBE AND MAIL

DOLLAR 70.85/1.4114 -0.11/+0.0021

[ RETAIL ]

Trump administration’s recent announce- ment of 50-per-cent tariffs on a variety of Canadian goods, announced last week and set to take effect on Aug. 19. “Every investment decision that gets postponed today is a factory expansion, technology upgrade or productivity im- provement that doesn’t happen tomor- row,” Patrick Gill, vice-president of the Business Data Lab at the Canadian Cham- ber of Commerce, said in the press release. “That’sthehiddeneconomiccostofuncer- tainty, and it’s one Canada can’t afford to continue.” Lacklustre business investment has been a persistent challenge for the Cana- dian economy over decades, but it has taken on heightened urgency during U.S. President Donald Trump’s second term, which has seen Canada’s largest trading partner turn increasingly protectionist.

Trump ends the American Century

with a bang, and a whimper

TONY KELLER

OPINION

he European Recovery Program may have been history’s greatest act of enlightened self-interest. Commonly known as the Mar- shall Plan, after then-U.S. secretary of state George C. Marshall, it saw the United States pay to rebuild the continent after the devastation of the Second World War. Between 1948 and 1951, Washington jump- started the European economy with more than US$13-billion in aid to 17 countries. To put that in perspective, U.S. gross do- mestic product in 1950, measured in 1950 dollars, was US$300-billion. The bill for the aid program was worth more than 4 per cent of the American economy. U.S. GDP today tops $30-trillion a year, which means the Marshall Plan, measured in today’s dollars and relative to today’s U.S. economy, would be worth US$1.3-tril- lion. Some of the aid came in the form of loans, but most of it was given as grants. The Europeans used much of it to buy U.S.

GOLD (oz.) US$4,077.00 +6.20

OIL (WTI) US$82.61 -6.70

Last year, the U.S. imposed Section 232 tariffs on key industrial sectors, including steel, aluminum and automobiles. The levies slammed manufacturing bases in Ontario and Quebec, leading to major fac- tory layoffs and even shutdowns. On Fri- day, the U.S. enacted Section 301 duties re- lated to forced labour on dozens of coun- tries,includingCanada,aspartoftheWhite House’s efforts to rebuild tariffs after legal setbacks. Economic data and surveys show that trade uncertainty has weighed on hiring and investment plans. Nearly 10 per cent of businesses across the natural-resource sectors – including oil and gas, mining, forestry and agriculture – also plan to delay major investments, according to the chamber’s analysis of Statscan survey data.

SURVEY, B6

exports, including food, machinery and raw materials to rebuild a shattered conti- nent. The virtuous circle benefited Europe- ans and Americans alike. What followed was a multidecade economic boom – known as Les Trente Glorieuses in France and the Wirtschaftswunder in Germany – and a cycle of rising prosperity that en- riched the whole world, not least Amer- icans. The Soviet Union refused to allow East- ern Europe to access the Marshall Plan. In the years that followed, the growing gap between the wealth and freedom of West- ern Europe and stagnation and dictator- ship in the East became so stark that the Soviets had to build a wall, to prevent Eastern Europeans from escaping immiseration. Which brings me to the present trou- bles. The President whose slogan is Make America Great Again has an ignorance of, and a hostility to, the things that Made America Great. Donald Trump’s model for international relations borrows more from Marshal Stalin than George Marshall.

GCAN (10-YR) 3.56% -0.05

Page 18

Shein’s lofty IPO plans questioned

Investors expected to scrutinize fast-fashion retailer’s up to $50-billion valuation as its profitability declines

YANTOULTRA NGUI SELENA LI

Investors are expected to scruti- nize whether Shein can justify the US$40-billion to US$50-bil- lion valuation it is seeking in a Hong Kong initial public offering afteraprospectusfiledonSunday showed slowing growth and a sharp decline in profitability. Revenue rose 8 per cent to US$41.8-billion in 2025, but net in- come fell 39 per cent to US$2.06- billion. In the first quarter of this year, the fast fashion retailer swung to a US$99-million loss, the filing showed. While the quarterly loss partly reflected a US$328-million fair- value charge on convertible re- deemable preferred shares after an accounting change, slowing revenue growth and weaker core earnings underscore the compa- ny’s mounting challenges. “Institutional investors on the HKEX [Hong Kong Stock Ex- change] will … zero in on the 2.9- per-cent operating margin,” said Winston Ma, executive director of the Global Public Investment Funds Forum and a former ma- naging director at the China In- vestment Corporation. “Investors will reprice Shein away from a pure hypergrowth tech platform toward a physical

Orders for U.S. core

capital goods rise, shipments surge

LUCIA MUTIKANI

New orders for key U.S.-manufactured capital goods in- creased strongly in June while shipments surged by the most in 4½ years as businesses ramped up spending on artificial intelligence, suggesting the economy maintained a fairly strong pace of growth in the second quarter. The report from the Commerce Department on Monday also showed upward revisions to the data for May. The AI build-out is helping to limit the drag on the economy from the five-month war in the Middle East and the Trump ad- ministration’s lingering tariffs on imports, propping up manufacturing. The broad increase in the so-called core capital goods orders and shipments last month was power- ed by robust demand for computers and electronic products as well as electrical equipment, appliances and compo- nents. “Equity markets are still wrestling with the valuations of many of these tech companies, but one thing is certain, and that is the capex expenditures of corporate America are keeping the economy afloat despite caution in other sectors engendered by the Middle East war uncertainty and higher energy prices,” said Christopher Rupkey, chief economist at FWDBONDS. Non-defence capital goods orders excluding aircraft, a closely watched proxy for business spending, rose 0.9 per cent last month after an upwardly revised 1.9-per-cent in- crease in May, the Commerce Department’s Census Bureau said. Economists polled by Reuters had forecast core capital goods orders would advance 0.8 per cent after a previously reported 1.4-per-cent jump in May. Core capital goods orders rose 9.3 per cent year-on-year in June. Orders for computers and electronic products soared 3.1 per cent after rebounding by 1.2 per cent in May. Electrical equipment, appliances and components orders rose 0.9 per cent after climbing 0.2 per cent in May. Orders for primary metals advanced 1.1 per cent, but bookings for fabricated metal products fell 0.5 per cent. Machinery orders dipped 0.1 per cent. Shipments of core capital goods, which go into the calculation of the business spending on equipment component in the gross domestic product report, surged 1.9 per cent last month after gaining 0.2 per cent in May. The largest advance in shipments since December, 2021, was led by computers and electronic prod- ucts, and machinery. There were solid increases in the ship- ments of electrical equipment, appliances and components as well as primary metals. Non-defence capital goods orders increased 1.2 per cent and shipments of these goods rose 1.5 per cent. Stocks on Wall Street were trading higher as a pause in hostilities between the U.S. and Iran pushed down oil prices. The dollar was steady against a basket of cur- rencies. U.S. Treasury yields were mostly lower. The government is scheduled to publish its advance esti- mate of second-quarter GDP growth on Thursday. A Reuters survey of economists estimated the economy grew at a 2.1- per-cent annualized rate last quarter, which would match the first quarter’s pace and fit in with the Federal Reserve’s narrative of resilience. The U.S. central bank is expected to leave its benchmark overnight interest rate in the 3.5-per-cent to 3.75-per-cent range on Wednesday, though a few economists believed an increase in borrowing costs could not be ruled out. Other economists argued the AI-driven strength in equipment spending was a double-edged sword for the Fed. “On one side, strong capex supports economic activity and produc- tivity,” said Priscilla Thiagamoorthy, a senior economist at BMO Capital Markets. “On the other, Fed officials have re- cently noted that the ongoing boom in AI-related invest- ment may sustain inflationary pressures.” Economists expected another quarter of double-digit growth in business spending on equipment. “The robustness is not limited to the AI capex boom but also reflects a rebound in firms’ spending on vehicles,” said Bernard Yaros, lead U.S. economist at Oxford Economics. Orders for durable goods, items ranging from toasters to aircraft that are meant to last three years or more, rebound- ed 0.3 per cent last month after dropping 4 per cent in May.

REUTERS

A customer leaves a Shein pop-up in Toronto in May. The popular Chinese fast-fashion brand saw a US$99-million loss in the first quarter of this year, filings showed. LAURA PROCTOR/THE GLOBE AND MAIL

retail and logistics player navigating high-friction global trade.” The narrowing margin adds to concerns that Shein’s rapid rise is encountering headwinds from higher trade costs, increased reg- ulatory scrutiny and intensifying competition in global e-com- merce. The company said that the re- moval of the U.S. de minimis ex- emption had hurt sales growth, increased expenses and it was “pursuing a wide range of options

including increasing prices in the U.S.” to offset a portion of the in- creased costs. Europe’s new fee on low-value imports poses another challenge – Shein said it was possible that trends in the EU could be “gener- ally in line with or exceed the im- pact observed” in the United States. Shein’s challenges in Eu- rope could lead to a lower level of competitive intensity at the value end of the market, which could be positive for fashion retailers Primark, owned by Associated

Microsoft unveils AI cybersecurity tools

CADE METZ KAREN WEISE SAN FRANCISCO

OpenAI sent shock waves across SiliconValleylastweekwhenitre- vealed that two of its artificial-in- telligence technologies had gone rogue and hacked into a popular internet library. The incident showed the un- predictable power of new AI sys- temsandthegrowingimportance of technology that can be used against AI attacks. On Monday, Microsoft Corp. added to the widening assort- ment of AI security tools with the release of systems designed to help businesses protect their computer networks. It is among a number of com- panies racing to take the same kind of advanced systems used to commit attacks and instead har- nesstheirpowertopreventhacks. They are hoping to capitalize on rising concerns that AI presents a serious threat to computer infras- tructure that security experts are juststartingtocometogripswith. Microsoft executives are amongthemanyvoicesintechar- guingthatpowerfulcybersecurity systems should be more widely distributed so that more organi- zations can better defend them- selves. That viewpoint runs counter to growing concerns among some tech executives and officials in Washington that new AI systems need to be carefully monitored or kept away from the public be- cause they can be such effective hacking tools. “The cat is out of the bag,” said Hayete Gallot, an executive vice president at Microsoft who over- sees the company’s security ef- forts. Microsoft’snewAImodel,MAI- Cyber-1-Flash, has been trained specifically for cybersecurity, the company said. The system learned its skills partly by analyz- ing decades of data that Microsoft collected when responding to hacking incidents experienced by its customers. Microsofthasunusualaccessto security data, because its prod- ucts,suchastheWindowsoperat- ing system, Outlook e-mail and

AMAZON PITCHES LAUNCH OF MORE THAN 5,000 SATELLITES FOR MOBILE SERVICES

Amazon.com Inc.’s Leo on Monday proposed a constella- tion of up to 5,105 satellites to provide direct-to-device voice and data connectivity, joining a growing race among satellite operators to beam cellular services directly to smart- phones. The proposed network would provide voice, messaging, data and emergency services in areas beyond the reach of terrestrial cellular networks, with satellite deployment beginning in 2028.

British Foods, and H&M, Citi said in a note. The prospectus showed Shein’s valuation fell from US$98.2-billion after a fundrais- ing round in 2022 to US$64-bil- lion after another funding round in 2024. “I argue that Shein will unlike- ly achieve a substantial uplift in valuation either at its Hong Kong IPO or in the secondary market compared to its last private fun- draising round,” said Shen Meng, director at Beijing-based bou-

Azure cloud computing, are so widely used and are frequent tar- gets of cyberattacks, said Mustafa Suleyman, who oversees the de- velopment of Microsoft’s AI mod- els. UnlikeotherleadingAIcompa- nies, Microsoft did not share the new model with independent testers for evaluation before re- leasing the technology. But the company said it expected that the model integrated into its security tools would top the leaderboard for a standard benchmark test called CyberGYM after it was re- leased Monday, surpassing offer- ings from OpenAI and Anthropic.

A lot of these models are getting better. What concerns me is not the model du jour, but that the capability is more widespread.

DAVID WESTON MICROSOFT’S CORPORATE VICE-PRESIDENT

Microsoft said the price of us- ingthenewsystemwasabouthalf thepriceofotherleadingtechnol- ogies, which are more expensive partly because they were devel- oped to do many things, not just cybersecuritywork.Thecompany said it effectively handled 90 per cent of queries, meaning the more expensive models would be necessary only 10 per cent of the time.Mr.SuleymansaidMicrosoft had focused on lowering the costs so that the model could be de- ployed more quickly and more widely. MAI-Cyber-1-Flash will feed in- to another new Microsoft tool, Project Perception. It transforms various AI models into teams of “agents” designed to find and re- pair network vulnerabilities. AI agents are digital assistants that can use other software to perform varioustaskslargelyontheirown. In some cases, Microsoft’s agents will be able to imitate hackers. The AI security threat has emerged over the past year or so as AI companies have built sys- tems that are particularly good at

The company has filed an application with the Federal Communications Commission seeking quick approval for the plan. The FCC did not immediately comment. The service would partner with mobile network operators globally and use the mobile satellite spectrum of Globalstar Inc., which Amazon agreed to acquire earlier this year. Globalstar provides device-to- device connectivity for millions

tique investment bank Chanson & Co. “It would have been so much more optimistic if they went with their London or New York IPO a couple of years ago. The market by now has got a lot more difficult for them,” said Juozas Kaziuke- nas, an e-commerce industry analyst. “There’s no proposed solution to the declining growth,” Mr. Ka- ziukenas said. With U.S. sales contracting since 2025 and growth in Europe slowing because of tariff changes, Mr. Kaziukenas said revenue in the two markets – which together account for more than 50 per cent of Shein’s global total – was likely to remain stagnant in the near term. “Shein’s short-term future is going to happen in ‘Rest of the World’ countries, not Europe or the U.S.,” he said. Even before the filing, some in- vestors had questioned whether the targeted valuation left suffi- cient room for those risks. Shein could try to expand be- yond ultralow-cost fashion into new products, but it is unlikely to produce the exceptional growth of its early days, Neil Saunders, managing director at research firm GlobalData Retail, said. The listing should still attract investor interest. “But [it] is no longer the abso- lute star of fashion that it was some years ago. As such, the valu- ation will fall well below where it was during the peak years of the early 2020s,” he said.

writingcomputercode.WhenAn- thropic, for example, introduced an AI system in April, the compa- nysaidithadusedthetechnology to find thousands of security holesthathadgoneundetectedin popular software systems for years. Arguing that the AI system was too dangerous for wide release, Anthropic limited the release of this enormously expensive tech- nology to a small number of orga- nizations so that they could use the technology to defend the in- ternet’s vital infrastructure. Not long after, OpenAI and Google said they, too, were shar- ingsimilartechnologywithonlya group of partners. The White House also started to explore gov- ernment oversight of such tech- nologies. Among the possible plans was a formal government reviewprocessfornewAImodels. Thefieldandnormsarerapidly evolving. In an interview July 16, Microsoft’s corporate vice-presi- dent, David Weston, said it was “really important for us to make sure everyone has the capability.” But when the product was an- nounced Monday, the company limited the initial release to busi- nessesandindividualswhouseda third Microsoft security tool, MDASH, which is designed for finding and closing security holes in software. Ascompaniestrytocontrolthe use of their latest models, experts have shown that other technolo- giescouldhelpdrivemaliciousat- tacks on computer networks. Last month, researchers at the University of Toronto said they had found a way to use freely available AI technologies to cre- ate a dangerous computer “worm” capable of targeting any known flaw in the world’s com- puters. “A lot of these models are get- ting better,” Mr. Weston said. “What concerns me is not the model du jour, but that the capa- bility is more widespread.” Intheweekssince,twoChinese startups have released technolo- gies that are nearly as powerful as leading systems from Anthropic and OpenAI.

NEW YORK TIMES NEWS SERVICE

of Apple Inc. device users by enabling emergency messaging, location sharing and roadside assistance while out of the reach of terrestrial networks. The move will expand Ama- zon’s satellite ambitions beyond broadband Internet and will intensify competition in the direct-to-device market with SpaceX, AST SpaceMobile and Lynk Global, which are also developing satellite-to-phone services. REUTERS

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C

People visit the Moonshot AI stand, featuring the Kimi K3 model, during a conference in Shanghai earlier this month. Within two days of the model’s launch, the company announced that it needed to stop accepting new users because it couldn’t get enough computer chips to serve them. HECTOR RETAMAL/AFP VIA GETTY IMAGES China’s AI giants aren’t sure how to profit from the tech

Companies have tried various approaches to bring in enough money to build large systems

MEAGHAN TOBIN

hina’s leading technology companies have been steadily releasing artificial- intelligence models that perform nearly as well as the best systems in the world. But they are all fac- ing the same problem: overcom- ing the punishing economics be- hind the technology. Chinese AI companies have tried different approaches to bring in enough money to sustain the enormous expense of build- ing AI systems. Startups such as DeepSeek and Moonshot have raised billions from investors. Alibaba, China’s AI heavyweight, has started charging users for access to its best models. ByteDance, the par- ent company of TikTok and an AI powerhouse itself, launched a tiered pricing system, hoping to get people to pay more for using its most advanced models. To build state of the art AI models, AI companies constantly need to buy powerful computer chips – enough to build the mod- els, more to test improvements and still more to ensure they can perform for users all over the world. The companies also need to build or rent space in data cen- tres that house all this computing power. Chinese AI companies are not the only ones confronting these tough economics. Their giant rivals in Silicon Valley, from OpenAI and Anthropic to Google, are also investing more in AI than they are earning from it. For Chinese companies, the challenge is compounded by a central paradox of the country’s approach to AI development. Most of China’s leading AI sys- tems are open source or open weight. That has accelerated their development – the entire indus- try gains when every company shares its work in public. China’s open-source approach has spawned a crowded field of innovative and intensely compet- itive startups all offering systems at low cost. So attempts to increase reve- nue by charging more for access to certain models can scare away

LVMH sales up as U.S. luxury shoppers help offset hit from Iran war

DOMINIQUE PATTON PARIS

Sales at luxury giant LVMH edged higher in the second quarter as strong demand from affluent U.S. shoppers helped offset weaker spending in Europe, where tou- rism has been hit by the Iran war. Sales at the owner of Louis Vuitton, Dior and Moet & Chan- don champagne rose 3 per cent when adjusted for currency swings to €19.5-billion ($31.3-bil- lion), broadly in line with analy- sts’ consensus estimate, accord- ing to Visible Alpha. Growth was driven by the U.S., where sales rose 6 per cent after a 3-per-cent increase in the first quarter, LVMH said, citing strong demand fuelled by newly created wealth such as from the AI and technology booms. The watches and jewellery division was

customers. Price conscious Chi- nese consumers – businesses and individuals alike – are quick to hop across platforms in search of inexpensive AI tools. While China’s AI companies are searching for sustainable business models, spending is high and revenue is low, said Richard Lin, a vice-president at the Silicon Valley company Data- strato. “In two or three years, we will still be trying to figure out how large models can earn money,” he said. Offering low prices has helped the Chinese firms gain users, in- cluding in Silicon Valley, where many companies depend on the more affordable systems. Yet, Chinese companies have strug- gled to translate huge numbers of global users into profits. Last month, Chinese startup Z.ai released a model called GLM-5.2 that it said was nearly as powerful as Anthropic’s best. Many software developers and startups in Silicon Valley quickly started using it, in part because it was cheaper than the U.S. sys- tems. Z.ai’s models improved and became more popular, and the company’s revenue more than doubled last year. But Z.ai lost nearly US$700-million. When it went public in Hong Kong, Z.ai said it planned to use most of the money to improve its models, largely by acquiring more chips. A few weeks later, Z.ai said it was looking for part- ners to share computing power resources and apologized after users complained about slow ser- vice. “Open models are a powerful distribution strategy, but they are not a complete business model,” said Wei Sun, a principal AI ana- lyst at Counterpoint Research in Beijing. “An IPO can finance the next training cycle, but it cannot by itself create sustainable eco- nomics.” This month, Moonshot re- leased a model called Kimi K3, which the company said per- formed better than models from OpenAI and Anthropic did on some tasks. But within two days the company was forced to an- nounce that it needed to stop ac- cepting new users because it couldn’t get enough computer chips to serve them. China’s AI industry has faced years of U.S. trade restrictions that confine its ability to buy the

LVMH’s fastest-growing business, with organic sales up 11 per cent, accelerating from 7 per cent in the previous quarter. Tiffany and Bulgari posted growth in the mid-teens as wealthy shoppers continued to favour jewellery over soft luxury categories. “What you’ve seen is that despite continued instability in the mac- ro environment, trends im- proved across all geographies in H1 and where wealth is created, consumer appetite for luxury and for our products in particular is strong,” finance chief Cécile Ca- banis said on a call with analysts, striking a more confident tone than after more muted first-quar- ter results. The fashion and leather goods division, which generates the bulk of LVMH’s operating profit, posted 1-per-cent organic growth, mostly thanks to U.S.

world’s most powerful chips. To get around these limitations, many Chinese companies rent re- mote access to data centres out- side of China stocked with ad- vanced chips. But Chinese AI startups have far less money to buy computing power than their deep-pocketed U.S. rivals. Last month, DeepSeek held one of China’s most anticipated funding rounds, raising money from investors including internet giant Tencent, battery maker CATL and the country’s state in- vestment fund for artificial intel- ligence. DeepSeek raised US$7.5- billion. In May, Moonshot raised US$2-billion. By comparison, Anthropic raised US$65-billion in May alone. Chinese tech firms have far less capital, but U.S. tech execu- tives and investors worry that China’s open-source push threat- ens to upend the economics of AI production. Chinese AI startups say that years of export controls have pushed them to use chips as effi- ciently as possible, potentially challenging the idea that has mo- tivated much of global AI invest- ment: that making cutting edge AI systems will always require in- creasing investment in more chips and data centres. Now, a debate is raging in the United States that could make it even harder for Chinese AI com- panies to earn money. Leading Silicon Valley compa- nies including Anthropic and OpenAI have claimed that Chi- nese firms improperly harvested data from their AI systems to ac- celerate the development of the Chinese models. Some U.S. tech companies and investors want Washington to limit access to Chi- nese open-source models, saying they could be a threat in the wrong hands. “Many Silicon Valley startups rely on open-weight models to both customize their product and also not have to pay OpenAI and Anthropic their high prices,” said Kevin Xu, the founder of In- terconnected Capital, a hedge fund that invests in AI technolo- gies. These U.S. tech companies have been an important source of revenue for many Chinese AI firms. If they are cut out of it, they risk losing that.

NEW YORK TIMES NEWS SERVICE

consumers. That was the seg- ment’s first quarterly increase in two years, but fell short of analy- sts’ expectations for a 1.7-per- cent rise. The French group, led by billionaire Bernard Arnault, said the Iran war reduced growth in the division by one percentage point, but added that Dior was gaining momentum under new creative director Jonathan An- derson, who beat rival Chanel to design Taylor Swift’s wedding dress. In Europe, sales were flat in the quarter, stabilizing after a decline in the first three months of the year as conflict in the Middle East weighed on tourism. In a rare public comment, Mr. Arnault dis- missed on Sunday media reports of a bitter succession battle among his five children, insisting his family remains united. European luxury brands have

Chipmaker CXMT

vaults to top of Chinese market with 466% surge on debut

YANTOULTRA NGUI SINGAPORE SAMUEL SHEN SHANGHAI

Shares of CXMT Corp. soared 466 per cent on their Shanghai trading debut on Monday following Asia’s biggest IPO this year, catapulting the chipmaker to the top of China’s stock market by valuation despite a recent sell-off in global tech stocks. As U.S. curbs intensify competition in the global semi-con- ductor race, CXMT has emerged as a key pillar of Beijing’s drive to build a self-sufficient chip industry and close the gap in strategic technologies such as artificial intelligence. The stock ended at 49 yuan ($10.23), compared to its sale price of 8.66 yuan ($1.81) a share, after reaching an intraday high of 55.03 yuan ($11.48). The rally lifted CXMT’s market capitalizationto3.3trillionyuan($688.67-billion),sharplyup from US$85.5-billion ($120.7-billion) during the IPO process. The explosive debut crowned CXMT as China’s most valu- able listed company, overtaking banking giant Industrial and Commercial Bank of China, long the market’s heavyweight. The chipmaker’s first-day gain also dwarfed the debut per- formance of China Resources New Energy, whose shares more than doubled after a US$3.6-billion IPO earlier this month. The strong debut provides a gauge of how much investors are willing to pay for a marquee Chinese chip firm, as local markets navigate volatility following an AI-led sell-off. Around 141.1-billion yuan ($29.45-billion) worth of CXMT shares were traded in Shanghai on Monday, becoming the first A-share stock to exceed 100-billion yuan turnover in a day, according to local media reports. Chinese chipmaking shares dropped 0.4 per cent while semi-conductor firms climbed 0.8 per cent, as fund managers repositioned for CXMT shares. “Investor appetite is largely being driven by providing Chi- nese investors a way to meaningfully get exposure to the cur- rent memory supercycle,” said Jing Jie Yu, equity analyst at Morningstar. Mr. Yu said the deal was priced at a steep discount, at roughly one times Morningstar’s estimated 2027 price-to- bookvaluecomparedwith2.1to2.3timesforglobalpeers.But he argued the stock’s first-day surge was excessive, pointing to the memory sector’s cyclical nature and the longer-term drag from U.S. export controls that restrict access to ad- vanced chipmaking technology. CXMT’s astronomical rally, which values it at nearly half of U.S. rival Micron Technology, has also sparked concerns of a bubble. Its expanding dominance in China has enabled it to raise prices for tech customers such as Huawei. “The [CXMT] stock is too expensive and smells of specula- tion,” said Yuan Yuwei, hedge fund manager at Trinity Syn- ergy Investments, adding that “it’s hard to say the optimism is sustainable.” AI-linked stocks, including chipmakers, have been at the forefrontofglobalequitymarketgainsthisyear.Butconcerns about stretched valuations and whether hefty AI-related cap- ital expenditures will generate earnings growth quickly enough have recently dampened investor enthusiasm. In other Asian markets, tech-heavy South Korea’s KOSPI and Taiwanese stocks were up nearly 1 per cent and down 0.5 per cent, respectively, while MSCI’s IT index for Asia-Pacific shares outside Japan fell 4.7 per cent. Only 6.73 per cent of CXMT’s enlarged share capital was freely tradable at listing, as most shares are locked up. The small initial float could magnify price swings and attract strong turnover. CXMT, formerly ChangXin Memory Technologies, raised 57.92-billion yuan ($12.09-billion) in the IPO, the biggest mainland Chinese semi-conductor offering on record. It sur- passes SMIC’s US$7.5-billion Shanghai share sale in 2020 and the IPO proceeds could rise to 66.61-billion yuan ($13.9-bil- lion) if an overallotment option is fully used. Asian chipmakers and companies building data centres and related infrastructure have ridden a wave of spending worth hundreds of billions of dollars from big tech firms. Earnings from so-called hyperscalers this week are likely to set the tone for near-term sentiment around the AI trade.

CXMT has emerged as a key pillar of Beijing’s drive to build a self-sufficient chip industry and close the gap in strategic technologies such as AI. PEDRO PARDO/AFP VIA GETTY IMAGES

REUTERS

stepped up their focus on the United States, opening stores and staging fashion events to tap wealth generated by near record- high stock markets. However, questions remain whether LVMH’s relatively mod- est sales growth is enough reas- sure investors that the US$400- billion luxury sector is decisively emerging from a two-year down- turn. “We wonder if this could be good enough to sustain the share price and get investors to stand up and pay attention,” Bernstein analysts said in their first reac- tions to investors. LVMH’s U.S.-listed shares were down 1.6 per cent at 5 p.m. local time, having briefly slipped to their lowest since June last year. Shares in the French group have fallen 28 per cent year-to- date, making LVMH one of Eu-

rope’s worst-performing large- cap stocks. “Net, we view this as a reassur- ing print particularly on better than expected margins and earn- ings,” RBC analysts said in a note. “However questions will likely be asked around whether [second half] consensus expectations are achievable given increasingly tougher comparative.” For the first half, LVMH’s sales rose 2 per cent on an organic ba- sis, but fell 3 per cent on a report- ed basis to €38.6-billion ($62-bil- lion). Over the same period, prof- its from current operations fell 4 per cent to €8.7-billion (about $14-billion), as currency moves reduced earnings by about €700- million ($1.12-billion), though the operating margin was broad- ly stable at 22.5 per cent.

Page 20

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OPINION

OPINION

OPINION & ANALYSIS

How much would it take to turn around

Canada’s housing and economic malaise?

C

Competitiveness, productivity and investment all need a significant boost over the next 10 years

CHARLES ST-ARNAUD

Chief economist at Servus Credit Union

anada faces two genera- tional challenges: a hous- ing affordability crisis and underperforming competitive- ness/productivity relative to its peers within the Organization for Economic Co-operation and Development. Because these problems were left to fester, solv- ing both will require investment on a staggering scale, raising cru- cial questions: where will the money come from and what will be the broader economic conse- quences. More than a decade of house prices rising faster than income, driven by low interest rates, weak supply and strong popula- tion growth, has made housing unaffordable across much of Canada. Building new supply is the solution, and the Canada

Ontario joining the ‘passport’

securities regulatory system is too little and not enough

JONATHAN PREECE

Senior policy counsel at the Canadian Forum for Financial Markets

ntario’s recent commit- ment to joining the Cana- dian Securities Adminis- trators’ “passport” system has been hailed as a step toward re- moving interprovincial trade barriers and developing “one Canadian economy.” Don’t listen to the fanfare. The passport system is de- signed to provide market partici- pants with a window of access to Canada’s capital markets by al- lowing them to interact with a single principal regulator rather than all 13 of the provincial and territorial regulators. Through this system, each market partici- pant’s principal regulator is re- sponsible for reviewing and ap- proving specified filings and once approved, the principal reg- ulator’s decision is mutually rec- ognized by participating prov- inces and territories. This system was developed in reaction to a series of expert re- ports and recommendations re- leased in the early 2000s, which highlighted the many inefficien- cies in Canada’s regulatory sys- tem and reiterated calls for the creation of a national securities regulator. In 2003, provincial ministers convened to discuss the poten- tial for securities reform driven by the provinces and territories. This was at least partially moti- vated by a desire by some pro- vincial regulators to stymie the momentum that was building for a national regulator. This led to a public consultation and the development of an action plan to identify the most pressing issues affecting Canada’s regulatory system. The ones that were iden- tified focused on costs, delays and complications for issuers and other registrants when filing and obtaining approvals from 13 different securities regulators. The passport system was pro- posed as the solution. By the time this system was introduced in 2005, every prov- ince and territory had agreed to participate with the exception of Ontario, which withheld its sig- nature as a symbolic gesture in support of developing a national regulator. Notwithstanding this, the practical impact of Ontario’s re- cent decision to join the passport system is overstated. This is be- cause, despite Ontario’s inten- tional foot-dragging, the Ontario Securities Commission and the

Mortgage and Housing Corp. es- timates that 4.8 million new housing units will be required over the next 10 years to reach this aim, while a more conserva- tive estimate by the Parliamen- tary Budget Office puts the figure at 3.8 million units just to avoid further deterioration. Assuming a relatively low cost per unit of between $500,000 and $750,000, including con- struction overhead, develop- ment charges, supporting infras- tructures, etc., building 4.8 mil- lion units would cost $2.4-trillion to $3.6-trillion. Accounting for units that would have been built anyway, the extra investment re- quired would be $1.2-trillion to $1.7-trillion. Merely closing the housing gap would still require about a third of that sum. For context, residential investment in new construction totalled about $115-billion in 2025, mean- ing that restoring affordability would require more than dou- bling the pace of investment over a decade. Canada’s dismal competitive- ness and productivity record stems from decades of underin- vestment in machinery, equip- ment and intellectual property, resulting in a stock of capital per worker that is 40 per cent below the median of the OECD’s 10 most productive countries plus

other CSA members have devel- oped an “interface,” which em- ulates the benefits of the pass- port system. Under this interface, every province and territory has agreed to accept OSC decisions on pass- port filings. In addition, although the OSC retained the discretion to conduct its own reviews, in practice, it has generally relied on reviews conducted by the oth- er regulators in the passport sys- tem. As a result, Ontario’s deci- sion to join the passport system is largely ceremonial and will have a limited impact on reduc- ing trade barriers. To be sure, the passport sys- tem has benefits. It has eased the process for registering, obtaining exemptions and filing prospec- tuses, and it has promoted some harmonization in the applica- tion of provincial securities law. But it is not a panacea for all of the legitimate criticisms that have been levelled against Cana- da’s regulatory system. The pass- port system does not, for exam- ple, improve the CSA’s slow and cumbersome policy-making process nor does it address the difficulties that arise in co-ordi- nating between regulators in multijurisdictional enforcement. Further, this system does not grapple with the costs that arise from maintaining a regulator in each of the 13 provinces and ter- ritories, along with the Canadian Investment Regulatory Organiza- tion, which serves as a pan-Cana- dian self-regulatory organiza- tion. All these regulators are finan- cially reliant on fees from market participants, and despite the benefits of the passport system, provincial/territorial regulators continue to collect duplicative registration and participation fees from market participants. This means that issuers offer- ing securities across Canada have to pay multiple filing fees, and dealers operating across Canada have to pay multiple registration fees despite the fact that only one “principal regulator” is re- sponsible for reviewing those fil- ings under the passport system. These costs often pale in com- parison to the compliance costs that are incurred by market par- ticipants in order to comply with and respond to inquiries from multiple authorities. This fragmentation and dupli- cation of fixed costs reduce the attractiveness of Canada’s capital markets. Ontario’s tokenistic de- cision to join the passport sys- tem does very little, if anything, to change that reality. The disso- lution of interprovincial trade barriers and the development of “one Canadian economy” will re- quire much more.

Australia. And the gap has been widening at a faster pace since the 2015 oil bust, with Canada’s capital per worker growth trail- ing the average of its peers by a full percentage point each year. Higher capital stock per worker is strongly correlated with both higher productivity and higher gross domestic product per cap- ita. Closing half of that gap over the next 10 years would require capital stock per worker growth of 3.2 per cent to 3.5 per cent an- nually, compared to an average growth of 1.1 per cent since 2000. That’s equivalent to $4-trillion to $4.5-trillion in investment over the next 10 years, or $2.9-trillion to $3.7-trillion in addition to what could be expected over the period. These are net figures that do not account for the invest- ment required to offset deprecia- tion. Even the bare minimum needed to prevent Canada’s competitiveness from deteriorat- ing further would require $1-tril- lion to $1.8-trillion in additional investment. Put together, the investment needs are staggering: $6.4-tril- lion to $8.1-trillion in investment over the next 10 years or $4.1- trillion to $5.4-trillion on top of the status quo. To put this in per- spective, Canada’s nominal GDP is about $3.2-trillion, and the in-

U.S. President Donald Trump greets the audience before speaking at General Motors’ Milford Proving Grounds on Monday in Milford, Mich. ANDREW HARNIK/GETTY IMAGES

Keller: Trump saw Gordie Howe bridge

as his latest opportunity to demand a payoff

FROM B1

The Detroit Shakedown is the latest example. Ottawa picked up the entire $6.4-billion tab for the Gordie Howe International Bridge, and that had a sound Marshall Plan logic. Canada’s cost of construction could be recouped over time through tolls, while Canada and the U.S. would both see permanent economic gains from a new bridge enabling more, faster and cheaper cross-border trade. Everybody wins. Mr. Trump’s preferred arrangement is not that. It is the win-lose of the ex- tortion racket. Not wealth creation – wealth appropriation. Not “let’s prosper together,” but, “hands up, this is a stick up.” He saw the bridge, and his power to block its opening, as his latest opportunity to demand a payoff. He got Ottawa to agree in principle that, for the first 15 years of the bridge’s life, half of all net revenues after expenses will flow into a Trump administration- controlled slush fund, with Cana- da only getting its full share of toll revenue after. Because the deal is short, thin, and layered on top of the original agreement between Michigan and Canada that Mr. Trump re- fused to honour, it’s still unclear whether Cana- da has given up a lot, a little, or nothing. Because it’s a Donald Deal, it’s also unclear whether this 15-year deal can last even 15 weeks. From the certainty and stability of a hege- mon that practises long-time allyship, we have moved to the instability and unpredictability of America as an impatient hustler, always chasing new protection rackets, or a new chance to fleece old marks. The President has hit other allies with simi- lar, but far larger, shakedowns. Last year, he slapped Japan with a 15 per cent tariff and

From the certainty and stability of a hegemon that practises long-time allyship, we have moved to the instability and unpredictability of America as an impatient hustler, always chasing new protection rackets, or a new chance to fleece old marks.

vestment share of GDP would need to increase by about 20 per- centage points from the current 23 per cent. Even doing the bare minimum to prevent a worsen- ing of the situation would re- quire $1.5-trillion to $2.3-trillion in additional investment, equiv- alent to 7 percentage points in- crease in investment, as a share of GDP. Where will these trillions of dollars come from, and how will they be financed? A fundamental principle in ec- onomics stipulates that “savings equal investment.” Put different- ly, for someone to invest, some- one must have saved to supply the capital. Corporations and government are both likely to re- main net borrowers, as they will be the ones investing, leaving non-residents and households as the two sectors that must supply the savings. Households have been net borrowers since the late 1990s and have been partly responsible for crowding out business invest- ment since. They would need to shift toward net saving, a likely difficult and unpopular adjust- ment given ongoing affordability pressures and the belt-tightening required. This leaves foreign investors, already significant net lenders, as the only sector able to mea-

threatened worse unless Tokyo pledged to in- vest US$550-billion in the U.S. The terms envi- sion Japan taking on all of the financial risk, with the U.S. taking most of the profits. In the first year of the Trump administra- tion, erstwhile allies were pressured into com- mitting to invest US$5-billion in the U.S., ac- cording to the Washington-based Peterson In- stitute for International Economics. It’s like a Marshall Plan in reverse. A reverse Marshall Plan is in fact what Stalin imposed on Eastern Europe. The U.S. sent aid to Western Europe; Stalin sent rail- cars to his newly conquered terri- tories and carried away tribute. Trumpian economics is not Keynesian economics or Milton Friedman economics. It’s Geng- his Khan economics. It’s Vladimir Putin economics. It’s wealth ex- traction, not wealth creation. As for the funds pledged to Mr. Trump as part of his bid for a re- verse Marshall Plan, very little has materialized. Japan has in- vested almost nothing so far. South Korea pledged $350-billion last year, and has since been drag- ging its feet. Mr. Trump treats agreements as written in disappearing ink on biodegrading paper, and so do his counterparties. In the years after the Second World War, the countries of Western Europe joined NATO and the Washington-led global trading system vol- untarily and eagerly. The governments and peoples of Eastern Europe, in contrast, entered the Warsaw Pact and the Soviet economic bloc at the barrel of a gun. Mr. Trump has dismantled the trust and goodwill that made Canadians, Europeans, Ja- panese and others happy to let Washington lead what we called the free world. It can be rebuilt, but it will have to be rebuilt in a different form. Mr. Trump has removed the cornerstone.

ningfully increase the savings flowing towards Canadian in- vestment. However, further re- liance on foreign investors and ownership raises the risk that Canada becomes an “extractive” economy, where profits are repa- triated abroad rather than rein- vested in the Canadian economy, limiting the investment’s posi- tive spillovers to the rest of the economy and potentially giving foreign investors more influence over policy decisions. Attracting the large amount of capital required will likely neces- sitate higher interest rates or re- turns, whether to incentivize do- mestic savings or to attract for- eign capital. However, higher in- terest rates risk making some needed investments uneconom- ical, creating a self-limiting dy- namic. Containing this dynamic will require deliberate policies to promote domestic saving and in- vestment. There is no easy path out of Canada’s predicament. Improv- ing housing affordability and competitiveness/productivity can be within reach, but only with a scale of investment, sav- ing, and structural adjustment that the country has not mus- tered in decades. Falling short means accepting Canada will continue to lag further behind its peers.

Page 22

Brookfield commits billions

for data centre in South Korea

Nvidia CEO says infrastructure will be ‘needed to fuel Korea’s startups and industries’

SAN FRANCISCO

Brookfield Asset Management Ltd. plans to invest up to US$9-billion in AI infras- tructure as part of a partnership with Nvidia Corp. to expand a data centre in South Korea. As part of the deal, Nvidia would invest

Federal Reserve chairman Kevin Warsh arrives to appear before the House financial services committee this month. Pressed for details during the hearings, he said one month of tepid inflation data did not amount to ‘mission accomplished.’ MARK SCHIEFELBEIN/AP

Fed: Iran war and artificial-intelligence boom are

biggest wild cards the U.S. central bank is facing

FROM B1

FROM B1

FROM B1

Keeping rates unchanged would leave the Fed’s policy options open while giving offi- cials more time to see how the economy is evolving. Many expect inflation to ease in the latter half of the year. By the time the Fed meets again in September, officials will have two more months of data in hand. ButinactionwillputpressureonMr.Warsh to explain how doing nothing is compat- ible with his recent assertion to lawmakers that the central bank has “no tolerance” for elevated inflation. The decision before Mr. Warsh ultimate- ly hinges on the balance he wants to strike between taking an aggressive stance in the early stages of his four-year tenure as chair and maintaining room to manouevre in an environment where the bulk of inflation is being driven by supply shocks that the central bank’s tools are ill-equipped to ad- dress. If inflation was being driven by an overheating labour market, for example, instead of surging energy prices caused by the war with Iran or Mr. Trump’s tariffs, the central bank would feel much more confi- dent about its next steps. Inthelead-uptoJuly’smeeting,twopol- icy makers indicated there was an urgency to raise rates. Lorie K. Logan, president of the Federal Reserve Bank of Dallas, and Beth M. Hammack, of the Cleveland Fed, both emphasized the strain on consumers and businesses caused by elevated infla- tion and the potential for price pressures to further broaden out. Prices across the services sector have all risen compared with the same time last year. Ms. Logan and Ms. Hammack contend that higher borrowing costs are necessary to achieve the Fed’s 2-per-cent target. Both are voting members on this year’s policy- setting committee. But many of their col- leagues, including a handful of the Fed’s most senior decision-makers, signalled that while they were ready to act if infla-

Survey: Less than 1% of Canadian businesses plan to build U.S. operations, report says

Business sentiment has been de- teriorating for eight consecutive quarters, dating back to the third quarter of 2024, the survey found. Even so, very few companies plan to move their operations to the States. Over all, less than 1 per cent of businesses plan to establish U.S. operations, while just 0.4 per cent plan to acquire or partner with a U.S. business. “Tariffs appear to be delaying Canadian investment more often than it is encouraging relocation to the United States,” the cham- ber’s report said. The uncertainty caused by the

US$1-billion into South Korean internet company Naver Corp., which will fund the remaining amounts to finance the pro- ject. The expanded infrastructure will be built with Nvidia’s DSX platform at Nav- er’s GAK Sejong hyperscale data centre in Sejong, South Korea. In a news release, Brookfield touts its artificial-intelligence infrastructure in- vestment platforms as industry-leading, managing approximately US$100-billion of assets such as data centres, semi-con- ductor manufacturing and dedicated power generation.

tion did not soon ease, they were comfort- able taking a wait-and-see approach for now. That included Philip N. Jefferson, the vice-chair, and John C. Williams, president of the New York Fed. Christopher J. Waller, a Fed governor, put a heavy emphasis on the latest infla- tion data in determining the Fed’s next steps. Two reports tracking consumer and wholesale prices in June came in much cooler than expected. Still, he made clear that he would need to see several months of mild data to feel confident about the outlook. This distribution of views internally will no doubt produce the “family fight” that Mr. Warsh has long encouraged. But it also suggests that he will have latitude to pull officials in one direction or another should he choose to do so. Mr. Warsh has opted to obscure where he stands publicly to avoid boxing in the Fed. When pressed for details during con- gressional hearings this month, he was ex- plicit that one month of tepid inflation da- ta did not amount to “mission accom- plished.” But in several instances, Mr. Warsh has leaned in a dovish direction. Asked by Senator John Kennedy what he would do to address inflation, Mr. Warsh never brought up the prospect of raising rates. Instead, he said the Fed’s suc- cess would be a function of it asserting the central bank’s commitment to getting in- flation down, taking responsibility for any failure in doing so and studying its policy tools. When Mr. Kennedy asked how the Fed determines if inflation is temporary or per- sistent, Mr. Warsh invoked the five task forces he has created, which he said would “get to the big and hard questions instead of trying to paper it over with policies that have not been proven as successful.” Mr. Warsh also said that he did not view a one-time change in prices – specifically those caused by booming investment in

trade war has reverberated across exporting industries, dampening business confidence and sending the economy into a mild contraction over a six- month period straddling 2025 and 2026. Since then, the economy has stabilized. Gross domestic prod- uct has perked up in recent months, suggesting Canada is heading for annualized growth of more than 2 per cent in the second quarter. The upturn in the Canadian economy is likely to be tested by the U.S.’s recent tariff plans. The survey found that among businesses not planning to apply for financing, 62 per cent could

Sikander Rashid, the private equity firm’s global head of AI infrastructure, says the partnership will combine Brook- field’s global AI infrastructure investment capabilities, Naver’s AI and data-centre operating expertise, and Nvidia’s acceler- ated computing platform to advance the country’s AI capabilities. Jensen Huang, Nvidia’s founder and chief executive, says the trio are “building sovereign AI infrastructure at the scale needed to fuel Korea’s startups and indus- tries.”

THE CANADIAN PRESS

artificial intelligence – as inflationary. “Be- cause I think there’s a supply response,” he said. At the same time, however, he sug- gested that the Fed might view higher pric- es caused by a war differently, owing to the fact that this “tends to reduce the supply side of the economy.” The Iran war and the AI boom are the biggest wild cards for the Fed at the mo- ment. Both have raised prices, but it is un- clear whether that will lead to sustainably higher inflation. According to Jan Hatzius, chief economist at Goldman Sachs, tempo- rary factors, such as tariffs, are the main drivers of recent increases in underlying inflation, and are likely to fade over time. “Our forecast implies that hawkish talk now ultimately doesn’t require a move, be- cause inflation actually looks somewhat better as time passes,” Mr. Hatzius said. What has been hard to overlook, howev- er, is the fact that the economy has held up relatively well despite the litany of shocks in just the past year-and-a-half. To some, that suggests the Fed will need to raise rates in order to get inflation under con- trol. “It’s hard for me to say that the current stance of policy is restrictive given what we’re seeing in the economy,” said Loretta Mester, who led the Federal Reserve Bank of Cleveland for a decade until 2024. Rais- ing rates would help to “bring demand into better alignment with supply,” she said, while also helping to stabilize inflation ex- pectations that appear “more fragile than they’ve been.” “The longer this goes on, they lose cred- ibility if they keep saying we’re going to get inflation down and then don’t take action to bring it down,” Ms. Mester added. The mostrecentslateofdatagavetheFedsome breathing room, but that reprieve is likely to have ended by the September meeting, she said.

NEW YORK TIMES NEWS SERVICE

Since the survey was conducted, the United States- Mexico-Canada Agreement passed its renewal deadline on July 1. The continental pact will now undergo annual reviews over the next decade, after which it will expire.

now undergo annual reviews over the next decade, after which it will expire. The 50-per-cent tariffs announced last week would apply to roughly US$20- billion of imports from Canada, equal to about 5 per cent of Can- ada’s shipments to the U.S. in 2025. Crucially, those new duties would not exempt goods that meet the USMCA’s rules-of-origin thresholds, which specify what percentage of a product must originate in North America to receive preferential tariff treat- ment. “When investment waits, pro- ductivity, wages and long-term growth wait too,” Mr. Gill said.

take on additional debt – above the survey’s five-year average of 56 per cent, and suggesting that financing capacity alone does not explain Canada’s weak in- vestment performance. “Without stronger confidence, improved market opportunities and renewed incentives to in- vest, today’s resilience risks giving way to a prolonged period of slower productivity, weaker competitiveness and lower long- term prosperity,” Mr. Gill wrote in the report. Since the survey was conducted, the United States- Mexico-Canada Agreement passed its renewal deadline on July 1. The continental pact will

Brookfield:

Company is one of the largest foreign investors in the Middle East

Investment leaders from Gulf countries have acknowledged that the crisis has disrupted some normal-course business, but they have also expressed hope that the conflict will prove to be a short-lived setback. So far, Brookfield hasn’t bro- ken stride on its plan to increase its investments in the Middle East and expand its regional partnerships. Fundraising and joint investments in the region are a key part of a five-year plan to double the size of its private equity portfolio, which currently manages US$160-billion, com- pared with US$130-billion two years ago. Brookfield is one of the largest foreign investors in the Middle East, managing a US$16-billion portfolio of private equity, real estate and infrastructure assets in the region. The company, which manages more than US$1- trillion worldwide, opened an of- fice in Dubai in 2015 and more recently added one in Riyadh. The fund raised with PIF and other anchor investors reflects “the global confidence and strong demand for private equity opportunities in Saudi Arabia and the region,” Brookfield Corp. chief executive officer Bruce Flatt said in a statement. Connor Teskey, the CEO of Brookfield’s asset management business, said after the start of the Iran war in February that the conflict will not diminish the company’s appetite to do busi- ness in the region, which he ex- pects will play a larger role in global finance over the long term. PIF deputy governor and head of Middle East and North Africa investments Yazeed Al-Humied said in a statement that, “Our partnership with Brookfield is designed to help anchor interna- tional private equity into Saudi Arabia and the region,” and to speed up the flow of deals. Canada’s government has also courted deeper trade and invest- ment ties with Saudi Arabia. Prime Minister Mark Carney vis- ited the Kingdom in July and met with Crown Prince and Prime Minister Mohammed bin Salman, mending relations that became strained under the pre- vious Liberal government, which severed some ties after the 2018 murder of journalist Jamal Khashoggi. On Saturday, Brookfield also announced it joined a consorti- um with Blackstone Inc. and KKR & Co. Inc. that is buying a minority stake in a joint venture with Kuwait Oil Company, or KOC, a subsidiary of the state- owned Kuwait Petroleum Corp., or KPC. Kuwait Oil Co. has signed a US$16-billion lease and lease- back agreement with the inves- tor consortium. The contract covers all 13 of the company’s pipelines, and the investors will earn fees based on pipeline vol- umes, while KOC owns and con- trols the network. The upfront proceeds to KOC from the deal will be US$7.85-bil- lion, making the transaction the largest foreign direct investment in Kuwait’s history. Brookfield’s share of the consortium invest- ment was not disclosed. The deal “reflects confidence in Kuwait’s resilience, the quality of KPC’s assets and our long- term vision for the country’s en- ergy sector,” KPC deputy chair- man and CEO Shaikh Nawaf Saud Al-Sabah said in a state- ment.

Page 23

Cabot Revelstoke is transforming the B.C. mountain city into a high-end, four-season destination anchored by golf, skiing, hospitality and luxury real estate. PHOTOS BY CABOT

Resort aims to turn B.C. ski town into year-round luxury destination

F

Golf, hospitality and residential properties set to transform Revelstoke, which is known for heli-skiing and snow

DAVID McPHERSON

rom an outpost on the trans- continental railway line in the 1880s to the heli-skiing capital of the world, Revelstoke, B.C., has evolved from a sleepy mountain town into a powdered paradise. Located on the banks of the Columbia River – between the Monashee and Selkirk mountain ranges in southeastern B.C. – the city’s population fluctuates be- tween 8,000 and 16,000 owing to seasonal workers and attracts morethan50,000visitorsannual- ly. Thanks to a recently an- nounced partnership between hospitality and entertainment company Northland Properties and luxury developer Cabot, the number of adventure-seekers and global real estate investors is set to increase exponentially in Revelstoke. The city is evolving into a high- end, four-season mountain desti- nation anchored by Cabot Revel- stoke, an 18-hole golf course and luxury mountain hotel that’s complete with restaurants and a variety of residential offerings as part of the first phase of the de- velopment’s community master plan. “Cabot Revelstoke represents a significant tourism investment in Revelstoke and is an important milestone in the continued evo- lution of our destination,” says Ryan Melnyk, executive vice- president of commercial strategy and hospitality at Revelstoke Mountain Resort. “It reflects strong confidence in Revelstoke’s future and supports our long- term vision of growing a vibrant, year-round mountain communi- ty.”

SLEEPY TOWN TO POWDER PARADISE

Revelstoke was known as a sleepy mountain city until 2007 when visitorsstartedarrivingowingtoa major investment from North- land Properties, whose brands al- so include Chop Steakhouse & Bar, Denny’s Canada and Moxies. The investment resulted in the opening of Revelstoke Mountain Resort, which included the addi- tion of an eight-person gondola, a high-speed quad and expanded terrain for skiing. Revelstoke Mountain Resort now features 3,121 skiable acres and 75 runs. It’s known for having the longest vertical descent in North America at 5,620 feet and is considered Canada’s best desti- nation for heli-skiing and one of the top globally. Revelstoke Mountain Resort is also known

Top: Cabot Revelstoke marks the latest addition to the luxury developer’s growing portfolio of golf, resort and residential properties around the world.

Above: The four-star Cabot Revelstoke Mountain Lodge is set to feature 155 rooms, a spa, fitness centre, restaurants and more than 6,700 square feet of conference and event space when it opens in 2027.

for its powdery snow, with an an- nual average snowfall of 10.5 metres.

THE CABOT COLLECTION

When Ben Cowan-Dewar was 12 years old, he built his first golf hole on his parent’s farm east of Toronto. Since then, the Canadian en- trepreneur and golf aficionado has turned that childhood dream into a growing portfolio of luxury golf and real estate properties. Cabot began in the former coal-mining town of Inverness, N.S., with the opening of the Ca- bot Links golf course in 2012. Over the past two decades, the brand has evolved into a successful de- veloper and operator of luxury residential, resort and golf prop- erties, with projects spanning Florida, Scotland, France and Saint Lucia. For Mr. Cowan-Dewar, Cabot’s co-founderandCEO,determining where to invest starts and ends with finding the right site for a project. As the company’s golf portfolio grew, he realized that re- al estate was a natural comple- ment. “Like so many things about business, we learned and listened

PROPERTY REPORT

to the market, and there was a market to buy real estate,” Mr. Cowan-Dewar says. “It was not part of the original business plan when I started in Cape Breton in 2004, but now it’s a big part of our business and it’s been massively complementary.” As an avid downhill skier, the entrepreneur first visited Revel- stoke in the winter and experi- enced its pristine snow and un- paralleled vertical hills. While building a golf course in the mountains is challenging, Mr. Cowan-Dewar was undeterred. “There was a little bit of seren- dipity,” he says, adding that he was introduced by a friend to the Gaglardi family more than a dec- ade ago. And although he wasn’t actively seeking another project, he agreed to visit the property and was immediately struck by its extraordinary setting and natural beauty. “At the end of the day, what drew Ben to Revelstoke was the opportunity to create a mountain course,” adds Tom Gaglardi, chairman and chief executive of Northland Properties. Designed by Rod Whitman of Whitman, Axland & Cutten, Ca- bot Revelstoke is expected to offi- cially open around Canada Day next year. The designers worked with the natural landscape to cre- ate an 18-hole course that show- cases the area’s distinctive ter- rain.

LUXURY LODGE

The slopeside, four-star hotel dubbed the Cabot Revelstoke Mountain Lodge is currently un- der construction. When it official- ly opens in 2027, it will feature 155 rooms, a gym, spa, more than 6,700 square feet of conference and event space, a Chop Steak- house set to open late this year and a boutique coffee shop. The lodge will also serve as the new home for heli-skiing tour

company Selkirk Tangiers Heli Skiing. “The new lodge and its meet- ing and convention facilities cre- ate opportunities to attract cor- porate retreats, conferences, in- centive travel and business events that Revelstoke has histor- ically been unable to accommo- date,” Mr. Melnyk says. “These visitors often travel outside of tra- ditional peak periods, helping to support a more balanced, year- round tourism economy.”

THE FUTURE

The benefits of the Cabot-Revel- stoke Mountain Resort partner- ship also extend throughout the community, with increased tou- rism supporting local businesses, creating employment opportuni- ties and generating additional ec- onomic activity. Beyond collaborating with Ca- bot on the resort and new Revel- stoke residences, Northland Properties is working with local and regional governments to ex- plore potentially expanding the Revelstoke Airport to accommo- date commercial traffic. “We’re really focused on trying to make the local airport more ac- cessible,” Mr. Gaglardi says. “The dream would be to get commer- cial activity into that airport. We have a path for that. In the inter- im, the runway has been widen- ed, but it also needs to be length- ened.” Mr. Cowan-Dewar plans to keep growing the Cabot collec- tion. “At 47 years old, I can’t get a job doing anything else,” he says. “If we keep finding remarkable loca- tions, and I still feel like a kid when I see something amazing, that’s our game plan.”

Special to The Globe and Mail

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Page 24

T

GLOBE INVESTOR

What it’s like to retire in a high-inflation era

Where retirees are vulnerable is in the lack of opportunities to increase income beyond inflation

Personal finance expert and former Globe and Mail staff columnist

he cliché of the poor senior on a fixed income is way overdone. But inflation does bite hard when you’re retired. Let me give you some examples from my life as a kind-of retiree who left full- time employment a year ago, but still works on a part-time basis. To start, our property taxes went up 3.75 per cent this year and our condo fees rose 1 per cent. Our equal monthly billing

This health care manager earns six figures to help cover brother’s future care

SAIRA PEESKER

PAYCHEQUE PROJECT

Name, age: Russ, 38 Annual income: $157,920 base salary plus frequent overtime, $15,600 from rental property Debt: $106,000 in line of credit, $116,000 on condo Savings: $45,000 in savings ac- count, $160,000 in tax-free sav- ings account (TFSA), $285,000 in registered retirement savings plan (RRSP), $40,000 in first- home savings account, $305,000 in other investments What he does: Health care man- ager Where he lives: Nunavut Top financial concern: Making sure he saves enough to care for his brother, who has cerebral pal- sy. “The amount I might need is an unknown black box.” R

uss grew up in a trailer house in rural Alberta, the child of new immigrants who didn’t have a lot of money. But his parents worked hard to give their three children a good upbringing, including regular trips overseas to maintain their connection with family and the culture of their home country. He went to university with dreams of being a doctor, but in- ternal pressure to succeed and mental-health challenges weighed heavily on him. “University was not a good ex- perience for me, unfortunately,” says Russ. “It took me six years. I was thinking of going to med school and it didn’t work out.” Instead, he pursued a different field in health care, and moved to Nunavut for work. What he dis- coveredisthathelovesthepeople and landscape of the Arctic. He has enjoyed learning about Inuit culture and hearing stories fromelders,andhasalsometpeo- ple from all over Canada and the world who have moved there to take jobs. “There’s many people here from Western African countries, a big francophone population and a lot of people from Newfoun- dland,” he said, describing his hospitalcolleaguesasmulticultu- ral and collaborative. “We have this mutual respect and understanding of what we do and how important it is – like, ‘let’s improve health care up here’ – and that’s been the most re- warding part of my career.” Russ left school $100,000 in debt, but gets paid well in his field in the North. “I was only planning tostayafewyears,butitbecamea career,” said Russ, who’s now a

BOND INVESTORS, UNSURE ABOUT FED POLICY OUTLOOK, HEDGE AGAINST U.S. RATE SHOCK

NEW YORK Bond investors, un- certain about the outlook for Federal Reserve tightening, have been paying more to protect against the possibility of a sharp rise in U.S. interest rates. U.S. financial markets are grappling with questions about whether new Fed chair Kevin Warsh will keep the central bank focused on containing inflation, which could require rate hikes, or bow to President Donald

amount for natural gas jumped 15 per cent, and property insurance for our condo edged up 3.5 per cent. Gasoline costs have gone up nearly 30 per cent over the past 12 months on average, which has hit hard because we’ve been driving alotbetweenourhomeinOttawa and Toronto to visit and help aged parents. We own a hybrid ve- hicle, but still. I have a system for adjusting to inflation that I’ll share with you, but first let’s put retiree inflation in context. First, Canada Pension Plan retirement benefits are re- viewed once yearly in January to account for any increases in living costs, and Old Age Security pay- ments are adjusted four times a year. CPP payouts increased 2 per cent for 2026, while the Bank of Canada’s inflation calculator says that a basket of goods and servic- es costing $100 in 2025 would come in at $102.80 in 2026. An in- crease of 2.8 per cent, in other words. Some defined-benefit compa-

RUSS’S TYPICAL MONTHLY EXPENSES

INVESTMENT AND SAVINGS: $4,653

$803 to work pension. “Federal public service pen- sion.”

$100 to savings account $583 to TFSA. “Stocks and exchange-traded funds.”

$1,100 to RRSP. “Saskatche- wan Pension Plan, ETFs and stocks.”

$667 to FHSA. “I didn’t use my FHSA for the condo as it’s a rental for my brother.”

$400 to registered disability savings plan. “Periodic transfers to my brother’s RDSP.

$1,000 to other invest- ments. “Using income from these to pay off the line of credit.”

SERVICING DEBT: $2,210

$505 to line of credit. “I borrowed to invest in non- registered investments.”

$1,705 to mortgage. “I own the condo where my brother

Trump’s repeated calls for rate cuts. Activity in the interest-rate options market has shifted in recent months, with growing demand for a specific type of swaption, or an option on in- terest-rate swaps, that would profit if long-term borrowing costs rise. Some are hedging against the 10-year swap rate reaching 6 per cent, more than 200 basis points

ny pensions also offer annual cost-of-living adjustments, and then there are the annual divi- dend increases paid by many of the blue-chip companies fa- voured by mature investors. For example: The widely held utility company Fortis Inc. FTS-T in- creased its dividend 4.1 per cent late last year, which means 52 years in a row of dividend hikes. The typical retiree in Canada has multiple streams of income, and several of them adjust auto- matically to help offset higher liv- ing costs. Where retirees are vul- nerable is in the lack of opportu- nities to increase income beyond inflation. There are no bonuses to be earned at work, no promotions and no opportunities to move to a better-paying job elsewhere. Having a good year in your invest- ment portfolio is not the same as getting a raise in the amount of money deposited into your bank account because it doesn’t help pay the bills. Even so, retirees cannot claim

lives. He’s not allowed to build assets because he’s on dis- ability.”

HOUSEHOLD AND TRANSPORTATION: $1,597

$1,122 to rent. “The Depart- ment of Health provides an apartment. It comes right off my paycheque.”

$68 to home insurance. “My apartment and my broth- er’s condo.”

$160 for utilities $50 to gasoline. “I don’t own a car, but use a friend’s.”

$50 to car maintenance. “Share maintenance for friend’s car.”

$32 to cellphone $115 on internet. “Starlink dish.”

FOOD AND DRINK: $930

$800 to groceries. $100 at restaurants. “Not a lot of options here. Mostly pizza from the local place. We

higher than today’s 4.23-per-cent level. For that to happen, the Fed would have to sharply hike the federal-funds rate. Interest-rate swaps are widely used to hedge rate risk, including exposure to U.S. Treasuries. These swaps allow investors to exchange fixed-rate payments for floating- rate ones and vice versa. Analysts say the market has moved away from strategies in

to be harder hit by inflation than parents with young kids or hun- gry teens. Groceries are inflation’s sharp end because they’re an un- avoidable expense that can be ad- dressed only to a limited extent with coupons, buying in bulk and shopping sales. My system for dealing with in- flation is to keep a spreadsheet with all our household costs bro- ken down into monthly amounts. The spreadsheet is updated roughly twice a year – in January and then in the summer. I also keep track of monthly in- come on a strict after-tax basis. After subtracting expenses from income,Icanseehowwe’retrack- ing on spending. Cutting costs can help bring the numbers into line, and we’ve done that to some extent. We eat out less than we anticipated before I retired, and we are way less interested in top- tier restaurants. We’ve also trav- elled less than expected, but that’s as much due to family obli- gations as anything else. On a more micro level, we

are very big on potlucks here.”

$30 on alcohol. “I drink very infrequently. It’s expensive at the Beer and Wine Store.”

MISCELLANEOUS: $7,975

$3,900 to payroll deduc- tions

$482 to condo fees $159 to condo property tax $7 on CBC Gem $30 on apps. “Music, fitness tracking, audiobooks.”

$150 on clothing $200 to contact lenses $1,250 to vacations. “Air travel is expensive.”

$300 to donations. “A few charities monthly.”

$300 to gifts. $1,150 to life insurance. “Paying extra to universal life insurance to maximize the cash value.”

$30 to long-term disability insurance

$17 to credit-card fees. “AMEX Cobalt. The points help subsidize my vacations.”

which investors collect premium by selling volatility and toward buying protection against large interest-rate moves. The shift reflects not only concerns about further Fed tightening but also broader worries that long-term yields could keep rising regard- less of near-term policy deci- sions, driven by factors such as persistent inflation and large government borrowing needs. “The market has become

trimmed our portfolio of stream- ing services to bring down our household expenses a bit. A big- ger win was negotiating our ca- ble-internet bill down. Afterwatchingourbillincrease steadily in the past couple of years, I literally spent the better part of a day chasing our telecom provider for a better rate. The re- sult was a 30 per cent lower monthly cost for two years, enough savings to help pay for that higher monthly natural gas bill and a bunch more. For a lower cellphone bill, try comparison shopping during Black Friday sales in November. I chopped my cellphone bill by al- most two-thirds last fall, al- though I had to switch providers and then switch back to my origi- nal company to get the best deal. One complication on cost-cut- ting for retirees is that it contra- dicts the idea of retirement as your great reward after a lifetime of hard work. It turns out that re- tirees have to make the same compromises as everyone else.

ILLUSTRATION BY THE GLOBE AND MAIL

manager in his department. “I’ve worked my way out of debt and started building up my savings and investments. “My pay is over double what an average person in my profession makes,” he said. “I am afraid I won’t be able to find equivalent work when I do move back to Alberta.” Russ has a 47-year-old brother inAlbertawithcerebralpalsy,and expects to eventually be his main caregiver. His parents, who are 73, are starting to struggle with cer- tain physical tasks in that role. RussboughtacondoinAlberta to give his brother a secure place to live and is saving as much as he can because he doesn’t know when his brother, who is current- ly healthy, may need expensive long-term care. “We’re trying to aggressively save in his RDSP,” said Russ, who will spend his seven-week vaca- tion this year working in another northern hospital to make extra money.“Privatefacilitiescouldbe $2,000 to 4,000 a month.”

Special to The Globe and Mail

Some details may be changed to protect the privacy of the person profiled. We want to thank them for sharing their story.

more convinced of rate hikes and you’re seeing that in the options market in terms of more demand for payers over receiv- ers,” said Guneet Dhingra, head of U.S. rates strategy at BNP Paribas in New York. U.S. rate futures on Friday priced in a 36-per-cent chance of a rate increase at this week’s meeting, up from 13 per cent a week earlier. REUTERS

Page 25

S

For Corby Spirit and Wine, market

share gains follow M&A success

PHILIP MacKELLAR

OPINION

CONTRA GUYS

General manager at Contra the Heard investment newsletter

ometimes it can take a long time for the market to recognize funda- mental changes to a business. Take Corby Spirit and Wine Ltd., a TSX- listed beverage company that manufac- tures, markets and imports spirits, wines and ready-to-drink cocktails. Here at Contra the Heard, we first acquired Corby in 2021 and our average purchase price is $14.82. It was bought, at least in part, to lower the portfolio’s vola- tility, improve income generation and provide stability amid market uncertain- ty. Since 2021, it has provided solid divi- dends with low beta, but the other part of the thesis, betting on higher valuations, has not played out. Part of the corporation’s lacklustre val- uation performance may have to do with the acquisition of Ace Beverage Group in June, 2023. The transaction was transfor- mative, fundamentally altered the orga- nization’s brand assortment and primed it for growth. However, to swallow Ace Beverage, the corporation had to increase leverage, endure a multiyear integration process and pay up. When the deal was an- nounced, Corby had a price-to-sales ratio of 2.4 and an enterprise value/sales ratio of 2.2. By contrast, Ace was acquired at 2.6 on a price-to-sales basis, and 2.8 on an enterprise value/sales basis. Roughly a year after the M&A, we wrote about it here at The Globe and Mail. At the time, the company was facing signif- icant investor skepticism, and for good reason. On the one hand, the enterprise had increased its market share across all its

TSX consumer stocks that could protect capital, generate dividends

BRIAN DONOVAN

NUMBER CRUNCHER

CBV, president of StockCalc, a Canadian fintech based in Miramichi, N.B.

WHAT ARE WE LOOKING FOR?

With the markets at or near all- time highs, is it time to shift some of our winners to more defensive names to protect capital and gen- erate dividends? Let’s look at stocks that fall into the consumer defensive (also called consumer staples) sector and what valua- tions and dividends are for this group.

THE SCREEN

We used StockCalc’s screener to select the Top 10 listed consumer defensive stocks by market capi- talization on the TSX. We then used StockCalc’s valuation mod- els to calculate fundamental (or intrinsic) valuation for each stock to see if they are undervalued or overvalued compared with cur- rent price. Overview of the techniques used:

Discounted cash flow (DCF value) is a valuation technique in which cash-flow projections are

DCF VALUE ($)

EYE ON EQUITIES DAVID LEEDER

MAPLE LEAF FOODS (MFI-TSX) CLOSE $28.83, UP 87¢ TMX GROUP (X-TSX) CLOSE $51.35, UP $1.42 DOMAN BUILD. MAT. GRP. (DBM-TSX) CLOSE $11.49, DOWN 11¢ OVINTIV (OVV-NYSE) CLOSE US$60.08, DOWN $3.05 5N PLUS (VNP-TSX) CLOSE $34.52, UP $1.02

With its spin-off of Canada Pack- ers Inc. now complete and major capex investments behind it, CIBC World Markets analyst Ty Collin sees Maple Leaf Foods Inc. as “a simplified CPG business with strong brands that is transi- tioning into a phase of enhanced cash generation.” Target: Touting “an opportunity for a valuation re-rate,” Mr. Collin initiated coverage with an “out- performer” rating and $36 target, which falls $1 under the consen- sus on the Street.

operating segments, expanded its oper- ations geographically, and grown reve- nues more than 40 per cent one year into the merger. On the other hand, earnings per share were flat with no EPS accretion, margins had fallen, and debt remained persistently high. The debt-to-EBITDA ra- tio stood at an uncomfortably high 2.1 times, compared with expectations of 1.8 times, one year out. As a result, many val- uation metrics were at decade-lows, ex- cluding the pandemic sell-off in early 2020. Though we understood why the mar- ket was skeptical, we thought investors were being overly pessimistic. Moreover, we argued that if Corby kept growing its top-line and bottom-line expansion tran- spired, it would look very cheap, which should power the stock higher. Fast forward to the present and the purchase of Ace Beverage Group has paid off. Market share and sales growth have continued, margins have started to im- prove and debt is coming down, yet the valuations remain low. In the latest quarter, for example, reve- nues came in at $58.3-million, up 21.5 per cent year-over-year. Sales of domestic case goods jumped 35 per cent to $48.2- million, driven by ready-to-drink strength in Western Canada and Ontario. Net earn- ings nearly doubled to $7.9-million, and the net margin expanded to roughly 13.6 per cent from 8.4 per cent. The dividend inched higher, while the payout ratio fell, too. The distribution was up 4.3 per cent from a year ago, and 14.3 per cent since the Ace Beverage merger announcement. Over the past year, the payout has fallen from 162 per cent to 86.2 per cent. It is worth noting that some of the quarterly sales strength was a matter of timing rather than pure demand. LCBO shipments were pulled forward ahead of that organization’s enterprise resource planning system upgrade, effectively bor- rowing volume from the quarter that

How consumer defensive stocks stack up

DIVIDEND YIELD (%) Loblaw Cos. L-T 74420.5 64.35 64.81 0.7% 52.93 62.22 98.28 67.40 14.6 1.0 Dollarama Inc. DOL-T 49150.2 184.68 167.02 -9.6% 146.86 0.00 123.13 207.63 -1.8 0.3 George Weston Ltd. WN-T 38940.3 103.91 119.80 15.3% 185.95 119.80 133.50 108.00 16.8 1.3 Metro Inc. MRU-T 19320.8 92.53 89.35 -3.4% 146.08 92.31 75.93 99.80 -13.3 1.8 Saputo Inc. SAP-T 15960.1 39.95 39.23 -1.8% 65.55 24.77 35.97 47.63 38.0 1.9 Empire Co. EMP.A-T 11170.6 50.1 48.15 -3.9% 156.43 54.59 37.12 54.29 -10.8 1.8 Molson Coors Canada Inc. TPX.A-T 10910.0 63.10 64.68 2.5% 0.00 64.81 0.00 0.00 -17.0 4.4 Premium Brands Hldgs. PBH-T 4617.2 88.81 94.76 6.7% 136.86 91.66 99.40 122.92 -0.2 3.8 Maple Leaf Foods Inc. MFI-T 3490.4 27.96 28.66 2.5% 33.07 22.33 28.06 37.11 5.8 3.0 North West Co. NWC-T 2404.0 50.66 49.94 -1.4% 173.33 49.10 40.08 58.50 9.1 3.3

NAME TICKER

Source: Stockcalc.com

discounted back to the present to calculate value per share;

A price comparables (price comps) technique values the company on the basis of ratios from selected comparable com- panies;

An adjusted book value (ABV) is calculated by multiply- ing book value per share by its 10- year average price-to-book ratio.

If we have analyst coverage, we may include the consensus target price in our valuation.

MORE ABOUT STOCKCALC

StockCalc is a fundamental valua- tion platform with tools to calculate and report on value per share for thousands of public companies listed on major North Americanstockexchanges.Stock- Calc also contains numerous

National Bank Financial analyst Jaeme Gloyn thinks TMX Group Ltd.’s operating results now “out- weigh industry risks,” leading him to upgrade his rating to “out- perform” from “sector perform” previously. “We maintain a favourable view of TMX’s long- term growth outlook, strong track record of strategic execu- tion (including recent acquisi- tions of CBOE and RAFI) and defensive attributes,” he said. Target: His $63 target, down from $65, is under the consensus of $68.86.

follows. The performance was also driven by continued gains in market share, helped in part by the removal of U.S.- made products from Canadian shelves. During the quarter, Corby’s sales in the spirits category were flat in a market that declined 4.2 per cent. Revenue from ready-to-drink brands grew 22.4 per cent, versus 9.7 per cent overall in the segment, and wine rose 12 per cent against an in- dustry-wide drop of 0.4 per cent. Not only are the gains noteworthy, but on the latest conference call in May, the executive team was keen to point out that Corby has outpaced the broader spirits market for 14 consecutive quarters. Corby’s net debt to adjusted EBITDA ended the quarter at 1.4 times, an im- provement from 1.6 times at this point last year, or 2.1 times recorded at the time of our last write-up in 2024. Cash on hand, however, remains razor-thin, partly be- cause of the cash management pool ar- rangement with parent company Pernod Ricard. The C-suite forecast a softer current quarter as LCBO ordering normalizes post-ERP, and the underlying decline in the spirits market persists. Over the long- er term, the executive team sounds opti- mistic. The main risks worth bearing in mind are the minuscule cash position, the tepid near-term guidance tied to LCBO disruption, and more competition from American brands if (or when) future trade agreements with the United States are finalized. Risks aside, the rationale for owning Corby remains strong and we consider it a buy. Corby successfully integrated Ace Beverage and deleveraged post acquisi- tion. It is navigating changing consumer preferences toward no- or low-alcohol op- tions well, and it is increasing its market share, sales and margin profile simultane- ously. Despite these positives, the stock is lacklustre and the valuations are low. As we wait for the market to recognize the improving fundamentals, we will sit back and collect the 6-per-cent dividend.

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RECENT CLOSE ($)

MARKET CAP ($ MIL)

tools to understand what the stocks you are investing in are worth. Globe Unlimited subscrib- ers can subscribe to StockCalc using the promo code Globe30, which offers a 30-day free trial and special pricing for the second month.

WHAT WE FOUND

The consumer staples sector comprisescompaniesinthepack- aged foods, grocery stores and beverages industries. The sector also includes discount stores and household and personal prod- ucts. The names on the list are ones we are very familiar with. This group of stocks collective- ly increased by 4 per cent on aver- age over the past 12 months and had an average dividend of just over 2 per cent for a total return of

Raymond James analyst Daryl Swetlishoff lowered his rating for Doman Building Materials Group Ltd. to “outperform” from “strong buy” based on his below- consensus earnings outlook “coupled with the stock’s strong year-to-date performance despite a challenging macro backdrop.” Target: He kept a $12 target, which is 32 cents below the Street’s average.

1-YEAR RETURN (%)

ANALYST TARGET ($)

PRICE COMPS ($) ABV ($)

just over 6 per cent. That com- pares to the broader TSX index which was up almost 30 per cent in the same time period. This sector has a beta traditionally between 0.6 and 0.8. (Beta mea- sures how much a stock or sec- tor’s price moves compared with the overall market, which has a beta of 1.0). A beta less than 1.0 means the stock (sector) has low- er highs and higher lows than the market it is compared with. All stocks on the list pay a divi- dend and the analyst targets are all above current price, whereas our valuations are a mix of above and below current. Let’s look at a couple of these companies. George Weston Ltd. is a hold- ing company that controls major- itystakesinretailerLoblawandin Choice Properties, a real estate investment trust. Loblaw boasts the largest retail footprint across

After “solid” second-quarter results, RBC’s head of Global Energy Research Greg Pardy thinksOvintivInc.’s“streamlined portfolio, resource depth and enhanced shareholder returns point toward relative multiple expansion and continued share price appreciation.” Target:Seeinga“steep”discount, Mr. Pardy reaffirmed Ovintiv’s place on the “RBC Global Energy Best Ideas List” and hiked his tar- get to US$85 from US$70 with an “outperform” rating. Consensus is US$69.87.

Canada’s main stock index rose to a record high on Monday, led by technology shares, as the potential for a strong corporate earnings season offset recent geopolitical uncertainty. Major indexes on Wall Street closed mixed. The S&P/TSX Composite Index ended up 199.04 points, or 0.6 per cent, at 35,568.14, moving past the record closing high it posted last Wednesday. Celestica Inc., Agnico Eagle Mines Ltd., Magna International Inc. and Enbridge Inc. were among the major Canadian companies set to report earnings this week. The technology sector climbed 6.9 per cent, with shares of e-commerce company Shop- ify Inc. up 11.6 per cent. Consum- er discretionary added 2.2 per cent and heavily weighted financials ended 0.6 per cent higher. The materials group rose 0.4 per cent. The price of gold was up 0.7 per cent as a pullback in oil prices eased concerns about the inflation outlook and the prospect of higher U.S. interest rates. U.S. President Donald Trump said that the United States was having “good talks” with Iran and there was a chance of a deal over their con- flict, but warned U.S. strikes would resume if the negotia- tions failed to deliver. U.S. crude oil futures settled 7.5 per cent lower at US$82.61 a barrel which weighed on energy shares. The TSX energy sector ended 2.9 per cent lower. The yield on benchmark U.S. 10-year notes fell 3.03 basis points to 4.649 per cent, from 4.679 per cent late on Friday. Canadian bond yields were also lower. The Dow Jones Industrial Average was the best-performing major U.S. stock index. REUTERS, GLOBE STAFF

Canada with more than 2,500 food retail and pharmacy stores under banners such as Loblaws, NoFrills,MaxiandShoppersDrug Mart. Choice Properties REIT owns and manages more than 700 commercial and residential properties in Canada. Our models as well as analyst consensus show upside to current price for West- on. Given our overall valuation for Loblaw Cos. Ltd. is near cur- rent price but our valuation for Weston is above the current price, the difference between the two must be in the value of the real es- tate holdings. Premium Brands Holdings Corp. owns a broad range of spe- cialty food manufacturing and food distribution businesses with operations in Canada and the UnitedStates.Allofourmodelsas well as analyst consensus show Premium Brands to be underval- ued. They will be releasing sec- ond-quarter 2026 results on Aug. 6. You can see in the accompany- ing table the percentage differ- ence between each stock’s recent closing price and its intrinsic val- ue. The “StockCalc Valuation” column is a weighted calculation derivedfromthemodelsandana- lyst target data if used.

Investing involves risk. StockCalc accepts no liability whatsoever for any loss or damage arising from the use of this analysis.

Ventum Financial analyst Daniel Lavoie thinks 5N Plus Inc. is “ben- efiting from a powerful combina- tion of secular growth, geopoliti- cal realignment, and supply- chain scarcity.” “The Company’s geographic footprint, sourcing capabilities, technical know-how, and ability to add capacity in line with customer demand have positioned it as a supplier of choice,” he added. Target: Mr. Lavoie initiated cov- erage with a “buy” rating and $44 target. Consensus is $46.69.

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MARKETS

TSX INDEXES AND SUB INDEXES

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TSX COMPOSITE IND 35568.14 199.04 0.56 242321 12.16 TSX 60 INDEX 2099.43 14.29 0.69 115970 12.87 TSX COMPLETION IN 2273.19 1.46 0.06 126351 9.31 TSX SMALLCAP INDE 1386.66 -3.24 -0.23 83760 15.89 TSX VENTURE COMPO 887.73 19.11 2.20 36966 -10.13 TSX CONSUMER DISC 403.92 8.54 2.16 4667 5.57 TSX CONSUMER STAP 1322.62 15.00 1.15 4439 6.82 TSX ENERGY CAPPED 417.93 -12.50 -2.90 50633 39.12 TSX FINANCIALS CA 770.60 4.43 0.58 34354 22.80 TSX HEALTH CARE C 23.56 0.10 0.43 1957 7.58 TSX INDUSTRIALS C 530.41 2.00 0.38 17368 13.58 TSX INFORMATION T 301.83 19.35 6.85 12061 -7.58 TSX MATERIALS CAP 725.08 3.06 0.42 61917 -3.28 TSX REAL ESTATE C 324.90 2.10 0.65 4249 2.69 TSX GLOBAL GOLD I 754.18 5.48 0.73 95696 -7.74 TSX GLOBAL MINING 218.48 1.66 0.77 269794 4.18 TSX INCOME TRUST 252.48 -1.56 -0.61 4798 14.64 TSX PREFERRED SHA 719.80 0.09 0.01 516 3.38 TSX COMMUNICATION 149.15 1.17 0.79 15712 -4.92 TSX UTILITIES CAP 417.04 -4.88 -1.16 11981 18.38

U.S.

TSX GAINERS TOP 20 FOR STOCKS $1 OR MORE

BSX BELO SUN MINI 1.15 0.23 25.00 1184 112.96 SHPU SAVVYLONG 2X 8.58 1.62 23.28 106 -51.47 OILD SAVVYSHORT G 2.52 0.37 17.21 110 -84.93 MSTU SAVVYLONG 2X 3.97 0.52 15.07 274 -76.26 HOD BETAPRO CRUDE 27.78 3.53 14.56 1183 -80.81 PLTU SAVVYLONG 2X 19.16 2.30 13.64 2 -19.43 TCL-B TRANSCONTIN 7.10 0.85 13.60 1 -69.79 CSUU SAVVYLONG 2X 9.02 1.02 12.75 28 -41.16 SHHI NINEPOINT SH 7.09 0.79 12.54 18 -33.49 SHPE HARVEST SHOP 8.39 0.90 12.02 95 -36.20 SHOP SHOPIFY INC 179.14 18.68 11.64 5309 -18.94 BNKR BUNKER HILL 4.85 0.50 11.49 63 -41.78 NVDD SAVVYSHORT - 12.95 1.15 9.75 16 -26.59 GURU GURU ORGANIC 3.76 0.32 9.30 8 -24.65 BU BURCON NUTRASC 1.85 0.15 8.82 5 13.50 TRI THOMSON REUTE 137.93 10.89 8.57 1154 -23.85 HND BETAPRO NAT G 26.27 2.04 8.42 359 -30.23 MSTR STRATEGY CDR 6.78 0.52 8.31 123 -35.92 MSTE HARVEST STRA 1.96 0.15 8.29 1251 -54.42 PLTE HARVEST PALA 15.67 1.13 7.77 187 -38.81

S&P/TSX COMPOSITE INDEX STOCKS LARGEST STOCKS BY MARKET CAPITALIZATION

VNP 5N PLUS INC. 34.52 1.02 3.04 603 94.81

ABRA ABRASILVER R 15.33 0.29 1.93 938 43.54 AAV ADVANTAGE ENE 11.05 -0.05 -0.45 1117 -5.88 ARE AECON GROUP I 50.29 -0.02 -0.04 365 60.77 AEM AGNICO EAGLE 206.18 1.37 0.67 797 -11.42 AC AIR CANADA 24.25 0.98 4.21 2299 25.71 AGI ALAMOS GOLD I 41.95 0.22 0.53 836 -20.85 AQN ALGONQUIN POW 8.51 -0.08 -0.93 2202 0.83 ATD ALIMENTATION 89.66 0.84 0.95 730 19.61 AAUC ALLIED GOLD 29.44 0.09 0.31 1022 -6.39 AP-UN ALLIED PROP 10.37 -0.08 -0.77 390 -22.44 ALA ALTAGAS LTD. 56.23 -0.95 -1.66 613 34.36 ALS ALTIUS MINERA 58.97 0.61 1.05 361 44.39 AIF ALTUS GROUP L 46.69 1.96 4.38 156 -17.67 USA AMERICAS GOLD 5.73 0.13 2.32 1024 -18.61 ARX ARC RESOURCES 32.07 -0.62 -1.90 3604 24.54 ARIS ARIS MINING 20.99 0.31 1.50 467 -5.71 ATZ ARITZIA INC 137.80 3.30 2.45 854 17.43 ACO-X ATCO LTD. C 78.60 -1.15 -1.44 142 39.41 ATH ATHABASCA OIL 10.64 -0.32 -2.92 4063 51.35 ATRL ATKINSREALIS 89.46 2.92 3.37 504 0.97 ATS ATS CORPORATI 37.45 0.19 0.51 334 -0.95 ASM AVINO SILVER 8.05 0.10 1.26 729 -5.74 AYA AYA GOLD AND 29.05 1.26 4.53 879 47.91

BTO B2GOLD CORP. 5.45 0.01 0.18 2050 -11.81 BCE BCE INC. 30.06 -0.02 -0.07 2762 -8.19 BDGI BADGER INFRA 90.07 -8.30 -8.44 288 23.16 BMO BANK OF MONTR 252.12 1.35 0.54 1936 41.44 BNS BANK OF NOVA 122.67 -0.06 -0.05 4303 21.18 ABX BARRICK MININ 52.77 0.43 0.82 3532 -11.74 BHC BAUSCH HEALTH 6.34 0.09 1.44 357 -33.47 BTE BAYTEX ENERGY 5.86 -0.23 -3.78 4342 31.98 BIR BIRCHCLIFF EN 6.32 -0.18 -2.77 903 -15.39 BDT BIRD CONSTRUC 70.82 0.05 0.07 303 148.32 BB BLACKBERRY LIM 11.88 -0.16 -1.33 2862 129.34 BEI-UN BOARDWALK 64.85 -0.64 -0.98 94 0.57 BBD-B BOMBARDIER 373.41 7.17 1.96 297 59.92 BLX BORALEX INC. 37.03 0.02 0.05 283 46.19 BYD BOYD GROUP SE 152.25 9.27 6.48 68 -30.36 BAM BROOKFIELD AS 67.13 1.80 2.76 1598 -6.63 BBUC BROOKFIELD B 44.41 0.52 1.18 120 -9.46 BN BROOKFIELD COR 59.41 0.64 1.09 1920 -5.73 BIP-UN BROOKFIELD 57.15 -0.56 -0.97 246 19.79 BEP-UN BROOKFIELD 45.32 -1.39 -2.98 329 22.19 DOO BRP INC 87.05 1.85 2.17 670 -10.30

CAR-UN CDN APARTM 34.36 -0.66 -1.88 606 -6.81 CNQ CDN NATURAL R 63.26 -2.22 -3.39 5450 36.07 GIB-A CGI INC 98.09 4.50 4.81 728 -22.63 CRT-UN CT REAL ES 18.74 0.10 0.54 97 15.18 CAE CAE INC 36.45 0.94 2.65 1007 -12.67 CCO CAMECO CORP 126.05 2.18 1.76 986 0.29 CM CANADIAN IMPER 166.93 1.25 0.75 2656 34.16 CNR CANADIAN NATI 182.24 -0.67 -0.37 1370 34.25 CP CANADIAN PACIF 129.16 -1.16 -0.89 1280 27.82 CTC-A CANADIAN TI 201.91 3.05 1.53 270 16.08 CU CANADIAN UTILI 55.15 -0.70 -1.25 502 29.07 CPX CAPITAL POWER 70.51 -1.23 -1.71 749 20.43 CS CAPSTONE COPPE 13.13 0.18 1.39 3200 -4.72 CJT CARGOJET INC. 85.06 -0.41 -0.48 61 1.33 CCL-B CCL INDUSTR 91.65 0.95 1.05 382 5.71 CLS CELESTICA INC 449.49 19.42 4.52 518 10.71

ETFS STOCKS $1 OR MORE

BANK EVOLVE CDN B 11.98 0.06 0.50 378 23.63 CNDD BETAPRO SP T 10.93 -0.16 -1.44 813 -23.67 DLR-U GLOBAL X US 10.11 -0.01 -0.10 1115 -0.30 DLR GLOBAL X US D 14.29 0.03 0.21 858 2.66 HHIS HARVEST DIVE 10.84 0.02 0.18 703 -11.44 HND BETAPRO NAT G 26.27 2.04 8.42 359 -30.23 HNU BETAPRO NAT G 7.98 -0.72 -8.28 3507 -51.04 HOD BETAPRO CRUDE 27.78 3.53 14.56 1183 -80.81 HOU BETAPRO CRUDE 19.02 -3.13 -14.13 2144 116.88 NVHE HARVEST NVID 12.54 -0.53 -4.06 456 0.40 QQD BETAPRO NASDA 25.99 0.18 0.70 557 -21.83 QQU BETAPRO NASDA 34.78 -0.22 -0.63 843 15.47

COMMODITIES

TSX VOLUME TOP 20 FOR STOCKS $1 OR MORE

T TELUS CORPORATI 14.69 0.29 2.01 9362 -18.79 WCP WHITECAP RESO 15.84 -0.62 -3.77 8030 37.74 IVN IVANHOE MINES 10.75 0.14 1.32 5755 -31.13 ENB ENBRIDGE INC 78.20 -2.01 -2.51 5558 19.06 CNQ CDN NATURAL R 63.26 -2.22 -3.39 5450 36.07 URC URANIUM ROYAL 3.83 -0.34 -8.15 5389 -20.87 TD TORONTO-DOMINI 168.87 -0.13 -0.08 5381 30.54 DML DENISON MINES 4.11 0.01 0.24 5380 12.91 CVE CENOVUS ENERG 39.61 -1.69 -4.09 5330 70.59 SHOP SHOPIFY INC 179.14 18.68 11.64 5309 -18.94 TRP TC ENERGY COR 96.47 -3.12 -3.13 5173 27.64 MFC MANULIFE FIN 62.19 0.63 1.02 4412 24.78 EQX EQUINOX GOLD 13.42 0.34 2.60 4340 -30.43 BTE BAYTEX ENERGY 5.86 -0.23 -3.78 4310 31.98 BNS BANK OF NOVA 122.67 -0.06 -0.05 4303 21.18 ATH ATHABASCA OIL 10.64 -0.32 -2.92 4063 51.35 RY ROYAL BANK OF 296.11 1.10 0.37 3627 26.55 ARX ARC RESOURCES 32.07 -0.62 -1.90 3604 24.54 ABX BARRICK MININ 52.77 0.43 0.82 3532 -11.74 HNU BETAPRO NAT G 7.98 -0.72 -8.28 3507 -51.04

CVE CENOVUS ENERG 39.61 -1.69 -4.09 5330 70.59 CG CENTERRA GOLD 23.28 0.41 1.79 498 17.81 CEU CES ENERGY SO 17.35 0.07 0.41 404 41.40 CSH-UN CHARTWELL 23.19 0.27 1.18 442 15.37 CHP-UN CHOICE PRO 16.09 0.16 1.00 492 8.64 CCA COGECO COMMUN 60.82 0.16 0.26 224 -8.50 CIGI COLLIERS INT 144.01 6.48 4.71 137 -28.62 CSU CONSTELLATION 2837.32 170.08 6.38 47 -14.06 CRR-UN CROMBIE RE 17.63 -0.02 -0.11 61 15.46 CURA CURALEAF HOL 12.63 -0.33 -2.55 155 23.46

TRP TC ENERGY COR 96.47 -3.12 -3.13 5173 27.64 X TMX GROUP LIMIT 51.35 1.42 2.84 1061 -1.68 TVE TAMARACK VALL 12.93 -0.25 -1.90 2008 62.03 TECK-B TECK RESOU 84.32 -0.69 -0.81 984 28.32 T TELUS CORPORATI 14.69 0.29 2.01 9362 -18.79 TVK TERRAVEST IND 121.13 1.26 1.05 76 -26.37 TFII TFI INTERNAT 205.82 -6.61 -3.11 343 45.08 NWC THE NORTH WES 50.58 -0.08 -0.16 106 3.41 TRI THOMSON REUTE 137.93 10.89 8.57 1154 -23.85 TPZ TOPAZ ENERGY 31.90 -0.78 -2.39 279 15.83 TXG TOREX GOLD RE 55.22 0.60 1.10 295 -15.75 TIH TOROMONT IND 210.63 -15.14 -6.71 956 26.85 TD TORONTO-DOMINI 168.87 -0.13 -0.08 5381 30.54 TOU TOURMALINE OI 63.57 -1.59 -2.44 2347 3.25 TA TRANSALTA CORP 18.94 -0.36 -1.87 1935 9.10 TKO TREKOR METALS 10.03 0.15 1.52 1108 29.09 TFPM TRIPLE FLAG 41.00 0.05 0.12 129 -10.11 TSU TRISURA GROUP 43.90 1.08 2.52 83 2.76

TSX LOSERS TOP 20 FOR STOCKS $1 OR MORE

SHPD SAVVYSHORT - 10.22 -3.05 -22.98 22 -16.02 OILU SAVVYLONG GE 43.12 -8.91 -17.12 69 167.00 MSTZ SAVVYSHORT - 8.15 -1.43 -14.93 24 -62.34 HOU BETAPRO CRUDE 19.02 -3.13 -14.13 2144 116.88 AMAP 1.10 -0.15 -12.00 884 SNDK SANDISK CDR 31.17 -3.84 -10.97 971 -3.68 COID SAVVYSHORT - 6.86 -0.84 -10.91 1 -55.05 NVDU SAVVYLONG 2X 31.60 -3.50 -9.97 64 -1.16 AMDU SAVVYLONG 2X 18.96 -2.09 -9.93 22 -12.22 ESI ENSIGN ENERGY 3.60 -0.35 -8.86 242 41.73 BDGI BADGER INFRA 90.07 -8.30 -8.44 293 23.16 GTE GRAN TIERRA E 9.50 -0.87 -8.39 32 62.12 HNU BETAPRO NAT G 7.98 -0.72 -8.28 3507 -51.04 URC URANIUM ROYAL 3.83 -0.34 -8.15 5389 -20.87 CNQU SAVVYLONG 2X 41.18 -3.48 -7.79 68.08 GASU SAVVYLONG GE 5.57 -0.47 -7.78 10 -50.04 FTT FINNING INTL 99.80 -8.10 -7.51 784 34.19 TIH TOROMONT IND 210.63 -15.14 -6.71 956 26.85 JOY JOURNEY ENERG 4.25 -0.29 -6.39 211 33.65 ASML ASML CDR (CA 46.85 -3.18 -6.36 66 57.58

SNDK SANDISK CDR 31.17 -3.84 -10.97 971 -3.68 ORBU SAVVYLONG 2X 6.01 -0.14 -2.28 13 -68.20 TSLU SAVVYLONG 2X 11.26 -0.27 -2.34 37 -60.00 GASU SAVVYLONG GE 5.57 -0.47 -7.78 10 -50.04 SHPD SAVVYSHORT - 10.22 -3.05 -22.98 22 -16.02 SPCX SPACEX CDR ( 19.00 -0.30 -1.55 866 -29.71 TSLA TESLA CDR (C 26.88 -0.43 -1.57 640 -32.24 TC TUCOWS INC. 12.13 -0.15 -1.22 6 -60.10 UBER UBER CDR (CA 10.06 0.36 3.71 311 -17.54 VRT VERTIV CDR (C 21.52 -0.24 -1.10 83 -14.87

DFY DEFINITY FINA 80.62 1.32 1.66 166 6.18 DML DENISON MINES 4.11 0.01 0.24 5380 12.91 DSG DESCARTES SYS 100.43 4.19 4.35 328 -16.59 DSV DISCOVERY MIN 8.80 0.16 1.85 987 5.01 DOL DOLLARAMA INC 187.73 3.05 1.65 531 -8.49 DPM DPM METALS IN 51.05 -1.40 -2.67 1314 20.34 DIR-UN DREAM INDU 14.58 -0.07 -0.48 293 15.90

EQB EQB INC 140.00 1.54 1.11 73 34.76 ELD ELDORADO GOLD 45.94 0.95 2.11 312 -6.87 EFN ELEMENT FLEET 31.58 0.23 0.73 985 -12.40 EMA EMERA INCORPO 76.75 -0.77 -0.99 1738 13.47 EMP-A EMPIRE COMP 50.74 0.64 1.28 682 6.33 ENB ENBRIDGE INC 78.20 -2.01 -2.51 5558 19.06 EDR ENDEAVOUR SIL 11.20 0.18 1.63 573 -13.25 EFX ENERFLEX LTD 31.83 -0.34 -1.06 913 50.43 EFR ENERGY FUELS 16.54 0.60 3.76 471 -16.80 EQX EQUINOX GOLD 13.42 0.34 2.60 4340 -30.43 ERO ERO COPPER CO 36.93 0.24 0.65 295 -4.89 EIF EXCHANGE INCO 125.92 0.32 0.25 175 53.64 EXE EXTENDICARE I 38.38 0.47 1.24 685 79.77

FFH FAIRFAX FINAN 2390.56 66.53 2.86 52 -8.61 FTT FINNING INTL 99.80 -8.10 -7.51 784 34.19 FCR-UN FIRST CAPI 22.96 0.06 0.26 229 21.48 AG FIRST MAJESTIC 22.88 -0.11 -0.48 1755 -0.09 FM FIRST QUANTUM 38.40 -0.12 -0.31 2994 4.35 FSV FIRSTSERVICE 198.02 4.22 2.18 174 -7.23 FTS FORTIS INC 82.43 -0.56 -0.67 1570 15.51 FVI FORTUNA MININ 12.11 0.02 0.17 334 -9.96 FNV FRANCO-NEVADA 302.72 -0.40 -0.13 396 6.40 FRU FREEHOLD ROYA 16.65 -0.31 -1.83 832 9.61

GMIN G MINING VEN 43.56 0.56 1.30 408 4.99 GFL GFL ENVIRONME 55.07 -0.94 -1.68 582 -6.60 GEI GIBSON ENERGY 30.40 -0.71 -2.28 412 21.02 GIL GILDAN ACTIVE 71.61 1.13 1.60 629 -16.53 GRT-UN GRANITE RE 98.16 0.50 0.51 52 20.13 GWO GREAT-WEST LI 91.88 -0.52 -0.56 802 35.74

HPS-A HAMMOND POW 269.92 -4.62 -1.68 60 69.25 HWX HEADWATER EXP 13.13 -0.34 -2.52 1215 40.13 HR-UN HR REAL EST 11.15 -0.03 -0.27 164 8.99 HBM HUDBAY MINERA 31.57 0.03 0.10 1914 15.85 H HYDRO ONE LIMIT 59.79 -0.40 -0.66 523 9.43

IAU I 80 GOLD COR 1.90 -0.01 -0.52 634 -5.94 IAG IA FINANCIAL 207.02 1.92 0.94 388 16.41 IMG IAMGOLD CORP 20.78 0.12 0.58 2664 -8.26 IGM IGM FINANCIAL 84.34 1.05 1.26 356 36.45 IMO IMPERIAL OIL 177.72 -3.57 -1.97 744 49.87 IFC INTACT FINANC 298.13 4.67 1.59 506 4.34 IPCO INTERNATIONA 30.71 -1.03 -3.25 407 23.68

SQQQ BETAPRO -3X 8.83 0.09 1.03 411 -32.80 TQQQ BETAPRO 3X N 32.27 -0.31 -0.95 524 17.86 UMAX HAMILTON UTI 13.64 -0.08 -0.58 485 3.57 VEQT VANGUARD ALL 60.85 0.20 0.33 474 13.29 XEG ISHARES SP TS 26.70 -0.82 -2.98 2629 38.92 XEQT ISHARES CORE 44.79 0.22 0.49 710 12.28 XGD ISHARES S&P/T 47.11 0.31 0.66 403 -7.84 XIC ISHARES CORE 56.81 0.35 0.62 641 12.38 XIU ISHARES SP TS 53.15 0.41 0.78 3118 13.11 ZAG BMO AGGREGATE 13.72 0.04 0.29 517 -0.44 ZEB BMO EQUAL WEI 76.64 0.35 0.46 1836 31.46 ZWU BMO COVERED C 12.01 -0.13 -1.07 403 8.49

TSX 52-WEEK HIGHS STOCKS $1 OR MORE

MMMM 3M CDR (CAD 27.75 0.75 2.78 3 9.08 AAPL APPLE CDR (C 47.50 0.48 1.02 104 22.27 BDGI BADGER INFRA 90.07 -8.30 -8.44 288 23.16 BOFA BANK OF AMER 31.18 0.24 0.78 4 11.60 BBD-A BOMBARDIER 375.57 8.12 2.21 2 61.32 BBD-B BOMBARDIER 373.41 7.17 1.96 272 59.92 BN-PF-D BROOKFIEL 22.00 0.05 0.23 1.43 BIP-PR-E BROOKFIE 26.40 0.08 0.30 1.62 CTC-A CANADIAN TI 201.91 3.05 1.53 270 16.08 CAPQ CAPITAL GROU 24.77 -0.09 -0.36 -0.08 CAPN CAPITAL GROU 25.00 0.00 0.00 1 CVG CLAIRVEST GRO 78.95 0.95 1.22 8.15 DFY DEFINITY FINA 80.62 1.32 1.66 166 6.18 EMA-PR-E EMERA IN 21.80 0.30 1.40 3 5.93 EMA-PR-L EMERA IN 21.75 0.24 1.12 5 5.79 ENB-PR-D ENBRIDGE 24.08 0.08 0.33 2 10.16 ENB-PR-N ENBRIDGE 25.79 -0.05 -0.19 3 5.78 ENB-PF-G ENBRIDGE 24.88 0.17 0.69 5 7.80 ENB-PF-A ENBRIDGE 24.99 0.14 0.56 5 7.72 ENB-PF-U ENBRIDGE 25.08 -0.02 -0.08 1 4.37

TSX 52-WEEK LOWS STOCKS $1 OR MORE

AMAP AMAPA MINERA 0.11 -0.02 -12.00 884 PAYU BROMPTON US 24.66 -0.06 -0.24 1 -1.44 PAYI BROMPTON UTI 24.61 -0.64 -2.53 2 -1.91 CAPQ CAPITAL GROU 24.77 -0.09 -0.36 -0.08 ECO ECOSYNTHETIX 2.63 -0.12 -4.36 1 -34.25 GEO GEODRILL LIMI 2.51 0.00 0.00 17 -39.37 HAI HAIVISION SYS 4.35 0.08 1.87 6 -16.98 HHII HARVEST INTE 11.51 0.11 0.96 80 -1.46 PCA PHOENIX METAL 1.19 -0.06 -4.80 109 -4.80 PWRS QUANTA SERVI 23.25 -1.03 -4.24 1 -19.38

IIP-UN INTERRENT 13.54 0.01 0.07 647 2.65 IVN IVANHOE MINES 10.75 0.14 1.32 5755 -31.13

JWEL JAMIESON WEL 42.39 1.52 3.72 76 25.97

KNT K92 MINING IN 22.99 0.58 2.59 549 1.32 KEL KELT EXPLORAT 9.71 -0.39 -3.86 657 26.60 KEY KEYERA CORP 59.50 -1.21 -1.99 890 35.23 KMP-UN KILLAM APA 18.61 -0.25 -1.33 238 13.48 KXS KINAXIS INC 157.27 9.67 6.55 72 -9.13 K KINROSS GOLD CO 33.77 0.11 0.33 3174 -12.65

LIF LABRADOR IRON 25.97 0.03 0.12 144 -13.06 LB LAURENTIAN BAN 40.33 0.04 0.10 258 0.07 LSPD LIGHTSPEED C 14.53 0.56 4.01 723 -12.26 LNR LINAMAR CORP 102.79 1.20 1.18 112 23.90 LAC LITHIUM AMERI 4.11 0.12 3.01 750 -31.16 L LOBLAW CO 64.97 0.62 0.96 846 4.71 LUG LUNDIN GOLD I 81.27 1.89 2.38 455 -28.72 LUN LUNDIN MINING 35.69 -0.25 -0.70 1760 20.98

MG MAGNA INTERNAT 94.83 2.28 2.46 648 29.60 MFC MANULIFE FIN 62.19 0.63 1.02 4412 24.78 MFI MAPLE LEAF FO 28.83 0.87 3.11 235 15.64 MDA MDA SPACE LTD 42.18 0.46 1.10 809 58.33 MX METHANEX CORP 76.57 -2.15 -2.73 263 40.65 MRU METRO INC 93.44 0.91 0.98 742 -5.42 MAU MONTAGE GOLD 16.59 0.19 1.16 395 67.91 MTL MULLEN GROUP 28.18 -0.55 -1.91 631 79.03

NA NATIONAL BANK 228.42 1.02 0.45 1309 32.33 NXE NEXGEN ENERGY 13.11 0.22 1.71 1423 3.80 NFI NFI GROUP INC 25.85 0.22 0.86 190 66.56 NGEX NGEX MINERAL 26.14 -0.35 -1.32 364 2.11 NPI NORTHLAND POW 21.63 -0.45 -2.04 746 21.18 NG NOVAGOLD RES I 8.42 0.06 0.72 637 -34.22 NTR NUTRIEN LTD 95.30 -0.83 -0.86 1891 12.49

OR OR ROYALTIES I 41.74 0.61 1.48 443 -14.15 OGC OCEANAGOLD CO 34.12 0.55 1.64 615 -12.29 ONEX ONEX CORPORA 109.04 2.40 2.25 75 -3.47 OTEX OPEN TEXT CO 33.37 1.81 5.74 865 -25.35 OLA ORLA MINING L 13.39 0.32 2.45 1548 -27.46

PAAS PAN AMERICAN 62.28 0.19 0.31 996 -12.48 POU PARAMOUNT RES 29.57 -0.73 -2.41 135 22.24 PXT PAREX RESOURC 23.09 -0.50 -2.12 742 25.15 PPL PEMBINA PIPEL 70.53 -1.91 -2.64 2351 34.88 PPTA PERPETUA RES 25.79 0.65 2.59 123 -22.39 PEY PEYTO EXPLORA 25.67 -0.46 -1.76 1061 13.03 POW POWER CORPORA 92.74 -0.16 -0.17 1207 27.13 PSK PRAIRIESKY RO 34.43 -0.68 -1.94 337 27.38 PBH PREMIUM BRAND 91.03 2.22 2.50 164 -10.50 PMZ-UN PRIMARIS R 23.14 0.12 0.52 199 48.43

QBR-B QUEBECOR IN 65.98 0.64 0.98 483 27.62

RBA RB GLOBAL INC 164.29 6.85 4.35 202 16.26 QSR RESTAURANT BR 105.24 2.93 2.86 950 12.36 RCH RICHELIEU HAR 35.72 0.35 0.99 80 -9.71 REI-UN RIOCAN REA 22.50 -0.11 -0.49 518 20.32 RCI-B ROGERS COMM 46.35 0.15 0.32 2879 -10.54 RY ROYAL BANK OF 296.11 2.86 0.98 3627 26.55 RUS RUSSEL METALS 68.50 -2.20 -3.11 235 56.39

BONDS CANADA

TERM YIELD CHG

2-YEAR 2.88 -0.03 5-YEAR 3.18 -0.04 10-YEAR 3.56 -0.05 30-YEAR 3.94 -0.05

RATES RATE CHG

BOFC OVERNIGHT TARGET 2.25 UNCH CANADIAN PRIME 4.45 UNCH Source: wires

GWO-PF-A GREAT WE 25.47 0.08 0.32 5 2.41 HBDV HUMILIS NORT 23.02 0.12 0.52 1 13.96 IFC-PR-E INTACT F 24.36 -0.05 -0.20 11 1.75 JPM JPMORGAN CDR 45.44 0.45 1.00 14 8.58 KBL KBRO LINEN IN 47.40 -0.09 -0.19 8 35.00 MFC MANULIFE FIN 62.19 0.63 1.02 4402 24.78 PPL-PF-A PEMBINA 26.55 0.06 0.23 4 2.67 PPL-PR-C PEMBINA 25.81 0.21 0.82 1 4.07 ZYNS PHILIP MORRI 26.95 0.30 1.13 19.83 POW POWER CORPORA 92.74 -0.16 -0.17 1207 27.13 PWF-PR-P PWR FNL 21.70 0.11 0.51 4 7.53 RFA-PR-I RFA FINA 23.25 -0.23 -0.98 2 2.20 RTX RTX CDR (CAD 50.42 1.17 2.38 4 18.05 RUS RUSSEL METALS 68.50 -2.20 -3.11 235 56.39 AAPU SAVVYLONG 2X 48.42 1.20 2.54 16 42.41 SYK STRYKER CDR ( 22.81 0.43 1.92 7 13.20 SLF SUN LIFE FINA 117.20 1.20 1.03 2145 36.79 SLF-PR-D SUN LIFE 22.29 0.00 0.00 45 2.06 TRP-PR-E TC ENERG 24.95 0.00 0.00 12 6.31 TA-PR-D TRANSALTA 21.60 0.00 0.00 8 5.88

SAP SAPUTO INC. 40.85 0.90 2.25 709 -1.11 SEA SEABRIDGE GOL 37.02 0.35 0.95 44 -9.02 SES SECURE WASTE 23.13 -0.38 -1.62 436 33.93 SHOP SHOPIFY INC 179.14 18.68 11.64 5309 -18.94 SIA SIENNA SENIOR 23.05 0.12 0.52 316 12.82 SVM SILVERCORP ME 13.76 0.15 1.10 611 19.86 SKE SKEENA RESOUR 38.35 0.13 0.34 187 17.64 SRU-UN SMARTCENTR 29.91 0.18 0.61 340 16.16 SOBO SOUTH BOW CO 52.79 -1.49 -2.75 464 39.84 SXGC SOUTHERN CRO 9.25 0.23 2.55 330 -12.65 SDE SPARTAN DELTA 11.54 -0.58 -4.79 415 59.17 SII SPROTT INC. 147.62 2.44 1.68 30 9.80 SSRM SSR MINING I 37.15 -0.75 -1.98 461 23.46 STN STANTEC INC 99.62 4.49 4.72 512 -23.09 SJ STELLA JONES I 78.71 1.85 2.41 104 -7.54 SCR STRATHCONA RE 40.62 -1.34 -3.19 368 43.38 SLF SUN LIFE FINA 117.20 1.20 1.03 2147 36.79 SU SUNCOR ENERGY 90.47 -2.38 -2.56 3146 48.51 SPB SUPERIOR PLUS 8.17 0.00 0.00 399 16.05

VET VERMILION ENE 14.96 -0.93 -5.85 1681 31.00 VZLA VIZSLA SILVE 4.67 0.00 0.00 609 -37.90

WSP WSP GLOBAL IN 172.37 11.23 6.97 863 -30.64 WCN WASTE CONNECT 239.58 0.22 0.09 483 -0.47 WDO WESDOME GOLD 26.57 0.43 1.64 253 16.84 WFG WEST FRASER T 93.53 0.19 0.20 128 11.39 WN WESTON GEORGE 104.63 0.72 0.69 143 10.50 WPM WHEATON PRECI 158.18 0.91 0.58 547 -1.97 WCP WHITECAP RESO 15.84 -0.62 -3.77 8030 37.74

CURRENCIES FOREIGN EXCHANGE CROSS RATES

CAD USD AUD EUR GBP JPY CHF

CAD

0.7081 1.0128 0.6226 0.5325 115.93 0.5798 USD 1.4123 - 1.4306 0.8792 0.7521 163.73 0.8187 AUD 0.9872 0.6991 - 0.6146 0.5257 114.45 0.5723 EUR 1.6063 1.1374 1.6270 - 0.8555 186.22 0.9313 GBP 1.8783 1.3297 1.9026 1.1692 - 217.70 1.0888 JPY 0.0086 0.0061 0.0087 0.0054 0.0046 - 0.0050 CHF 1.7248 1.2214 1.7474 1.0738 0.9186 199.96 -

Page 27

SPORTS

Toronto Blue Jays starter Max Scherzer makes a pitch during the third inning against the Nationals at Nationals Park on Monday in Washington. Scherzer, who has been out with an injury since June 10, made the start on his 42nd birthday against the franchise he helped lead to the 2019 World Series. Toronto won 3-2. For the game story, go to GLOBESPORTS.COM Mad Max is back on the mound

Son of Kansas City OC charged with shooting his mother

DAVE SKRETTA ST. JOSEPH, MO.

The son of Kansas City assistant coach Eric Bieniemy has been ar- rested and charged with the shooting of his mother, Mia Bie- niemy, the wife of the team’s of- fensive co-ordinator, authorities in Virginia said Monday. The Loudon County Sheriff’s Office said deputies responded late Sunday to a shooting in Ash- burn, Va., where the couple still hadahomefromBieniemy’stime coaching the Washington Com- manders. They found the 57-year- old Mia Bieniemy with multiple gunshot wounds, and she was transported to a hospital where she was in stable condition Mon- day. Elijah Zion Bieniemy, the 27- year-old son of the couple, was ar- rested early Monday in connec- tion with the shooting. He has been charged with malicious wounding, use of a firearm in commission of a felony and dis- charge of a firearm inside a dwell- ing, and is being held without

Infantino attacks critics in open letter for ‘spreading hate and false rumours’

GRAHAM DUNBAR GENEVA, SWITZERLAND

One week after the World Cup final, FIFA president Gianni In- fantino attacked perceived critics for “spreading hate and false ru- mours” about the tournament. Infantino praised FIFA for “de- livering the best show in the world” and spoke of the World Cup bringing “joy and together- ness,” in a 900-word statement published across a 15-page post on his Instagram account and on FIFA’s website late Sunday. “Sorry that you were so con- sumed by hate and criticism that you missed it all,” the FIFA lead- er wrote, addressing his com- ments to “those behind their pens and papers, behind their screens spreading hate and false rumours.” FIFA and Infantino faced crit-

bond at the Loudoun County Adult Detention Center. The sheriff’s office said the in- vestigation was ongoing. Eric Bieniemy was with Kansas CityattrainingcampinSt.Joseph, Mo., earlier Sunday. He was not present for Monday’s workout in- volvingrookies,quarterbacksand a few veterans, which was closed to the public. “Our hearts go out to Eric Bie- niemy and his family. Thoughts and prayers with them,” Kansas City coach Andy Reid said after- ward. “I can’t get into details on it, but things happen sometimes, and Eric will work through it. He has a great support group here, as does his family, as needed, and we’ll just let time take care of it from there. But Mia is stable, which is a plus. “She’s a saint, we all know that, thoseofyouthatknowher.Oneof God’s great blessings,” Reid add- ed. “But things happen. And you have to work through it. That’s where we’re at right now. Time will have to be involved in this to help heal.”

Our hearts go out to Eric Bieniemy and his family. Thoughts and prayers with them.

icism during the World Cup for Iran team officials, a Somali ref- eree and fans being denied entry to the United States; alleged po- litical influence by U.S. President Donald Trump in letting Folarin Balogun avoid a ban for a red card; unprecedented high ticket prices and commercialized breaks in play midway through each half of all 104 games. “Every city was packed with fans from all around the globe,” Infantino wrote. “While they cel- ebrated, you were busy planting seeds of hate.” “While you hide, we are ex- ploring the streets of Canada, Mexico, and the United States, talking with fans, engaging with people, and ensuring everyone’s safety.” Infantino has an increasingly testy relationship with media during the 11th year of his presi- dency. His eve-of-tournament

[ BLUE JAYS VS. NATIONALS ]

GREG FIUME/GETTY IMAGES

ANDY REID KANSAS CITY COACH

news conference in Mexico City was his first with a full gathering of international media since March, 2023. The previous such news con- ference in Rwanda, after his re- election by acclaim from FIFA member federations, saw Infan- tino ask his audience: “Why are you so mean?” In Mexico City last month, In- fantino suggested critics should “chill, relax.” And he’s coming under scruti- ny from some in the U.S. Con- gress. Rep. Jamie Raskin of Mary- land, the top Democrat on the House Judiciary Committee, sent Infantino a letter on Sunday seeking documents detailing ties between FIFA and the Trump ad- ministration. A representative for FIFA didn’t immediately re- spond to a request for comment on the letter. Iran’s ability to play at least

Reid did not know how long Bieniemywouldbeawayfromthe team. Pass game co-ordinator Joe Bleymaier and offensive line coach Andy Heck will take over his duties as the team continues with offensive installations dur- ing training camp. “On these things, real life. So you take care of that,” Reid said. “We’ll be able to keep it moving here, but the most important thing is E.B. has an opportunity to spend some time there [to] take care of that business.” EricBieniemywaspartofReid’s initial staff in Kansas City in 2013, and spent five seasons as the run- ning backs coach before he was promoted to offensive co-ordina- tor.Overthenextfiveseasons,the demanding but popular Bienie- my helped Kansas City reach three Super Bowls and win two of them while directing one of the NFL’s best offences. He interviewed for several head-coaching jobs but was con- tinually skipped over, so Bienie- my went to the Commanders in 2023inhopesofburnishinghisré-

three games in the U.S. was a key pretournament issue, and the squad made a late switch to a training camp in Tijuana, Mexico instead of Tucson, Ariz. “Iran entered the United States without incident or con- flict,” Infantino noted in his statement. “While you spread hatred, we worked tirelessly to unite two countries at war.” Fans denied visas to enter the U.S. included Michel Nkuka Mbo- ladinga, the celebrated statue supporter of the Democratic Re- public of the Congo, which was dealing with an Ebola virus out- break. He attended one game in Mexico. “You mentioned the few peo- ple denied visas and overlooked the millions who were approved, from all parts of the world,” In- fantino wrote. “Countries facing serious health issues or other

sumé. But the team struggled and coachRonRivera’sstaffwasletgo, andBieniemyspentoneseasonas the offensive co-ordinator at UCLA before spending last season as the running backs coach with the Bears. Bieniemy returned to Kansas City this season to replace Matt Nagy as the offensive co-ordina- tor. He was present for off-season workouts in Kansas City over the summer, and he was with the team when it began to report to trainingcamplastweek.Theteam is off Tuesday. The first full-squad workout at Missouri Western State University is Wednesday. “It’s great to have [Bieniemy] back in the building,” Reid said last week. “He always brings great energy. I’ve told you, he’s one of themorephenomenalguysIhave been around at being a leader of men. He is doing that. He’s in there cranking – works his tail off, and I appreciate that. Doesn’t let anything slide by. Does a good job with that.”

THE ASSOCIATED PRESS

challenges were granted visas.” On fallout from the red card for U.S. forward Balogun, Infanti- no claimed “subsequent deci- sions not to ban players in cer- tain situations are routine.” FIFA did not overturn Balo- gun’s red card, which does occur in domestic club competitions, but instead took the more un- usual step of deferring the one- game ban for a probationary pe- riod. FIFA has yet to publish the written verdict of its disciplinary judge. “To those spending their time and energy hating us, please take a moment to reflect, meditate, pray, or watch a football match and truly observe the faces, the eyes, the emotions,” Infantino wrote. He signed off his statement: “Much love to all.”

Page 28

JULY 28

Calgary’s Olympic Oval to get $52-million upgrade

Athletic training venue

has produced scores of Canadian Olympians since its debut at the 1988 Winter Games

DONNA sPENCEr CALGARY

Calgary’s Olympic Oval is getting an upgrade. The federal and provincial governments are equally split- ting a $52-million contribution to the renewal of the speed skating facility built for the 1988 Winter Olympics in Calgary. The federal government also announced Monday an addition- al investment of $7.67-million in- to ski racing and snowboard fa- cilities in Quebec, Yukon, Alberta and B.C., as well as a $3-million top-up to the Athletic Assistance Program, which provides Cana- da’s high-performance athletes monthly cheques to help pay their bills. “This is not just a good day for Canadian sport or speed skating in Canada. This is a good era of Canadian sport because we’re making the largest investments our country has ever seen in sport from the playground to the podium, from the people and the places and everything in be- tween that sport requires to con- tinue being Canada’s greatest na- tion-building project,” secretary of state for sport Adam van Koe- verden said Monday in Calgary. “The Calgary Olympic Oval has produced an extraordinary and probably immeasurable number of Olympic medals, but also memories, heroes and be- yond that, I understand you can fit more than a dozen volleyball courts in there. A lot of kids have learned how to skate here as well.

MLB

AMERICAN LEAGUE NATIONAL LEAGUE

EAST DIVISION W L Pct GB Tampa Bay 62 43 .590 — New York 59 46 .562 3 Boston 54 50 .519 71/2 Baltimore 51 55 .481 111/2 Toronto 48 58 .453 141/2 CENTRAL DIVISION Chicago 55 49 .529 — Cleveland 54 53 .505 21/2 Minnesota 53 54 .495 31/2 Detroit 50 56 .472 6 Kansas City 45 62 .421 111/2 WEST DIVISION Texas 54 52 .509 — Houston 52 55 .486 21/2 Seattle 52 55 .486 21/2 Athletics 44 61 .419 91/2 Los Angeles 42 64 .396 12

EAST DIVISION

Monday Texas 7, Seattle 3 Baltimore at Detroit N.Y. Yankees at Chicago White Sox Houston at L.A. Angels Boston at Athletics

Sunday Tampa Bay 1, Cleveland 0 Boston 6, Toronto 1 Kansas City 5, Detroit 4 Chicago White Sox 12, Houston 3 Minnesota 11, Athletics 8 Seattle 6, Texas 4

TueSday All TimeS EaSteRn Baltimore (Kremer 1-3) at Detroit (Melton 5-1), 6:40 p.m. Texas (Quantrill 3-3) at Tampa Bay (Jax 6- 7), 6:40 p.m. Cleveland (Williams 10-5) at Cincinnati (Singer 5-9), 7:10 p.m. Kansas City (Lugo 4-6) at Minnesota (Bradley 9-4), 7:40 p.m. N.Y. Yankees (Cole 3-5) at Chicago White Sox (Kay 7-4), 7:40 p.m. Houston (Lambert 8-5) at L.A. Angels (Detmers 3-7), 9:38 p.m. Boston (Bennett 6-3) at Athletics (Jump 3-6), 9:40 p.m.

INTERLEAGUE

Monday Toronto at Washington Cleveland at Cincinnati

Sunday Atlanta 3, Baltimore 2, 11 innings L.A. Angels 4, San Francisco 3 Philadelphia 11, N.Y. Yankees 4

TueSday All TimeS EaSteRn Toronto (Bieber 2-1) at Washington (Ca- valli 7-4), 6:45 p.m. Seattle (Castillo 3-9) at L.A. Dodgers (Lauer 5-5), 10:10 p.m.

CORNERED

OFF THE MARK

SPEED BUMP

BIZARRO

speed skaters train at the Olympic Oval in Calgary on Monday. JEFF MCINTOSH/THE CANADIAN PRESS

THE CANADIAN PRESS

“It’s a tremendously impor- tant asset to our community and our country.” The oval on the University of Calgary campus was completed in 1987 for $40-million and was the Olympic speed skating venue the following year. It’s been a community, univer- sity and high-performance ath- letic facility and the home of the national speed skating team for almost four decades. Canadian speed skaters who trained there have produced 40 Olympic medals, with Catriona Le May Doan, Cindy Klassen, Cla- ra Hughes, Denny Morrison, Jere- my Wotherspoon, Isabelle Weide- mann and Ivanie Blondin among its alumni. Almost a dozen players on Canada’s Olympic women’s hockey teams, including Hayley Wickenheiser, played club hock- ey at the oval. But the oval’s ability to make ice is nearing end of its life be-

EAST DIVISION W L Pct GB Atlanta 62 43 .590 — Philadelphia 57 49 .538 51/2 Washington 54 52 .509 81/2 Miami 52 54 .491 101/2 New York 44 62 .415 181/2 CENTRAL DIVISION Milwaukee 66 39 .629 — Chicago 59 46 .562 7 Pittsburgh 54 52 .509 121/2 St. Louis 53 52 .505 13 Cincinnati 49 55 .471 161/2 WEST DIVISION Los Angeles 67 39 .632 — Arizona 55 51 .519 12 San Diego 53 53 .500 14 San Francisco 44 61 .419 221/2 Colorado 42 65 .393 251/2

Monday Arizona at Pittsburgh Philadelphia at Miami Atlanta at N.Y. Mets Chicago Cubs at St. Louis Milwaukee at San Francisco

Sunday Pittsburgh 8, Chicago Cubs 7 San Diego 5, Miami 3 Washington 10, Arizona 7 N.Y. Mets 8, L.A. Dodgers 3 Milwaukee 11, Colorado 2 Cincinnati 5, St. Louis 3, 10 innings

TueSday All TimeS EaSteRn Arizona (Pfaadt 5-1) at Pittsburgh (Chan- dler 3-8), 6:40 p.m. Philadelphia (Nola 3-8) at Miami (Alcan- tara 10-6), 6:40 p.m. Atlanta (Sale 11-6) at N.Y. Mets (Scott 3- 2), 7:10 p.m. Cleveland (Williams 10-5) at Cincinnati (Singer 5-9), 7:10 p.m. Chicago Cubs (Rea 7-7) at St. Louis (McGreevy 4-8), 7:45 p.m. Colorado (Lorenzen 3-9) at San Diego (King 6-7), 9:40 p.m. Milwaukee (Henderson 4-1) at San Fran- cisco (Roupp 7-8), 9:45 p.m.

CFL

GP W L PF PA Pt Montreal 7 6 1 239 204 12 Hamilton 7 3 4 167 190 6 Toronto 7 3 4 220 219 6 Ottawa 6 0 6 153 213 0 WEST DIVISION

GP W L PF PA Pt Edmonton 7 6 1 203 172 12 Saskatchewan 6 4 2 204 169 8 Winnipeg 7 4 3 185 208 8 Calgary 7 3 4 278 244 6 BritishColumbia 6 1 5 152 182 2 WEEK EIGHT Bye: Ottawa Sunday Montreal 31 Hamilton 18

cause of brine leaks among the 400 aging pipe connections un- der its large floor. “People came together to save this facility, and it would not have survived, and speed skating would have had to move out of Calgary,” double Olympic gold medalist Weidemann said. “The fact that we get to contin- ue the legacy that was grown from the ’88 Olympics, I have chills. I’m really overwhelmed by the community that’s come to- gether to save it.” A new running track and im- proved accessibility for people using mobility aids are other oval needs, according to its director, Mark Messer. Fundraising for another $13- million to complete those ele- ments is ongoing, he said, but Monday’s announcement means jackhammers can hit the floor in January of 2028 for what’s ex- pected to be a nine-month re- placement.

WTA TOUR

MUBADALA CITI DC OPEN

Monday At WaShington DC, United StateS PuRSe: $2,488,125 SuRface: Hardcourt outdoor MEN’S SINGLES — ROUND OF 32 Alejandro Tabilo, Chile, def. Tallon Griekspoor, Netherlands, 7-6 (3), 4-6, 6- 4. Lorenzo Musetti (4), Italy, def. Matteo Arnaldi, Italy, 6-0, 3-1, ret. Taylor Fritz (3), United States, def. Zizou Bergs, Belgium, 6-3, 6-4.

DOUBLES — ROUND OF 16 Edouard Roger-Vasselin, France, and Hugo Nys, Monaco, def. Albano Olivetti and Theo Arribage, France, 3-6, 7-6 (3), 10-7. Nikola Mektic, Croatia, and Austin Krajicek, United States, def. Brandon Nakashima, United States, and Rafael Jodar, Spain, 6-4, 6-4. Simone Bolelli and Andrea Vavassori (1), Italy, def. Alexander Erler, Austria, and Robert Cash, United States, 6-4, 6-4. Christian Harrison, United States, and Neal Skupski (2), Britain, def. Diego Hidalgo, Ecuador, and Ben Shelton, United States, 6-2, 3-6, 10-7.

WOMEN’S SINGLES — ROUND OF 32 Leylah FeRnandez (7), Laval, Que, def. Magda Linette, Poland, 6-1, 6-4. Elisabetta Cocciaretto, Italy, def. Clara Tauson, Denmark, 4-6, 7-6 (2), 7-6 (2). Emma Navarro (8), United States, def. Sofia Kenin, United States, 6-0, 7-5.

DOUBLES — ROUND OF 16 Andreja Klepac, Slovenia, and Makoto Ninomiya, Japan, def. Lea Ma and Carolyn Ansari, United States, 6-3, 6-7 (6), 10-6. Venus Williams, United States, and Diana Shnaider, Russia, def. Ulrikke Eikeri, Norway, and Quinn Gleason, United States, 6-3, 6-4. Alana Smith and Clervie Ngounoue, United States, def. Ann Li, United States, and Clara Tauson, Denmark, 6-2, 4-6, 10-3.

SPORTLIGHT

1913 — The United States wins its first Davis Cup since 1902 by beating Britain three matches to two. 1928 — The Summer Olympics open in Amsterdam and the Olympic flame is lit for the first time. 1929 — The Chicago Cardinals become the first NFL team to train out of state, holding camp in Michigan. 1972 — The American Basketball Asso- ciation announces the NBA’s Buffalo Braves will relocate to San Diego and are renamed the San Diego Clippers.

“We can’t really get at it until January of 2028 to do the floor, but that is a priority,” said Mess- er, who has worked at the Oval since its inception. “That’s where things are deteriorating rather quickly. “This 52 [million], that’ll save us. We know now we can do the project.” The venue’s location on the university campus had made ap- plying for government funding complex because it was consid- ered an educational institution. But it’s been able to access $26-million from the federal gov- ernment’s $51-billion “Build Communities Strong Fund” for projects across the country, as well as provincial money. “This facility is truly a multis- port facility. We have judo, vol- leyball, other competitions here,” Alberta sport minister An- drew Boitchenko said. “It’s defi- nitely worth investing in and keeping it going.

MLS

EASTERN CONFERENCE

EASTERN CONFERENCE

GP W L T GF GA Pt Nashville 17 12 2 3 33 12 39 Miami 17 11 2 4 43 30 37 New England 16 9 5 2 26 19 29 Chicago 16 8 6 2 30 22 26 N.Y. City F.C. 17 7 6 4 30 23 25 Charlotte 17 7 6 4 28 25 25 Cincinnati 17 6 6 5 41 42 23 N.Y. Red Bulls 17 6 7 4 26 37 22 D.C. 17 5 5 7 24 27 22 Orlando 17 6 9 2 28 44 20 Columbus 17 5 8 4 24 26 19 Toronto 17 3 7 7 23 31 16 Montreal 17 4 10 3 22 33 15 Philadelphia 17 3 10 4 22 31 13 Atlanta 17 3 11 3 17 30 12 WESTERN CONFERENCE

WESTERN CONFERENCE

WESTERN CONFERENCE

GP W L T GF GA Pt Vancouver 16 10 3 3 37 16 33 San Jose 17 10 4 3 35 20 33 Los Angeles F.C.1810 5 3 34 18 33 Salt Lake 16 8 6 2 28 24 26 Houston 16 8 6 2 23 24 26 Dallas 17 7 5 5 32 25 26 St. Louis 17 7 6 4 23 23 25 Seattle 16 7 6 3 19 20 24 Minnesota 17 6 6 5 19 24 23 Portland 17 6 8 3 31 32 21 L.A. Galaxy 18 5 7 6 24 29 21 San Diego 17 5 7 5 31 28 20 Colorado 17 6 10 1 26 25 19 Austin 17 4 8 5 22 35 17 Kansas City 17 4 11 2 18 44 14 MLS ALL-STAR BREAK At ChaRlotte, N.C. TueSday All TimeS EaSteRn Skills Challenge, 7:30 p.m.

WedneSday MLS All-Stars vs. LIGA MX All-Stars, 8 p.m.

2026 COMMONWEALTH GAMES

MEDAL STANDINGS

At GlaSgow, Scotland ThRough Monday’S eventS Nation G S B Tot Australia 26 13 20 59 England 8 13 11 32 Canada 7 8 6 21 Scotland 5 4 2 11 South Africa 3 3 5 11 Nigeria 6 4 0 10 India 2 5 3 10 New Zealand 1 4 3 8 Wales 0 2 5 7 Malaysia 3 0 2 5 Kenya 1 2 2 5 Jamaica 2 0 0 2 Cyprus 0 1 1 2 Northern Ireland 0 1 1 2 Ghana 0 1 0 1 Jersey 0 1 0 1 Samoa 0 1 0 1 Uganda 0 1 0 1 Nauru 0 0 1 1 Papua New Guinea 0 0 1 1

NSL

GP W L T GF GA Pt Ottawa 13 10 2 1 30 15 31 Montreal 13 7 3 3 24 13 24 Toronto 12 5 4 3 17 13 18 Halifax 13 5 6 2 15 12 17 Vancouver 13 5 7 1 20 30 16 Calgary 12 0 10 2 9 32 2 Sunday-Monday No Games Scheduled.

TueSday All TimeS EaSteRn Calgary at Toronto, 7 p.m.

CPL

GP W L T GF GA Pt Hamilton 13 11 1 1 23 8 34 Calgary 13 8 2 3 23 7 27 Ottawa 14 6 5 3 22 25 21 Vancouver 14 6 6 2 21 15 20 Halifax 15 4 7 4 20 24 16 Quebec 12 4 6 2 18 23 14 Toronto 12 3 5 4 15 25 13 Victoria 13 0 10 3 15 30 3 Note: Three points awarded for a win, one for a tie. Monday No Games Scheduled.

Sunday Hamilton 3 Toronto 1 Ottawa 3 Victoria 2

TueSday All TimeS EaSteRn Quebec at Calgary, 9 p.m.

CANADIAN CLUB SOCCER CHAMPIONSHIP

QUARTERFINALS

SECOND LEG TueSday, Aug. 11 All TimeS EaSteRn Atletico Ottawa (CPL) at Supra du Que- bec (CPL), 7 p.m. (SupraduQuebecleadson3-2aggregate)

TELEVISION TUESDAY(ALLTIMESEASTERN)

BASEBALL MLB: Toronto vs. Washington, SN On- tario, East, West, Pacific, 6:30 p.m. MLB: N.Y. Yankees vs. Chicago White Sox, SN 1, 7:30 p.m.

BASKETBALL WNBA: Connecticut vs. Washington, NBA TV Canada, 7:30 p.m. WNBA: Toronto vs. Minnesota, TSN 4, 5, 8 p.m. WNBA: New York vs. Los Angeles, NBA TV Canada, 10 p.m.

WNBA

SOCCER NSL: Calgary vs. Toronto, SN 1, 7 p.m.

TENNIS ATP: Washington, TSN 3, 11 a.m., 6 p.m.

“We’ve had it here since ’88, and hopefully we’ll have it here another 40, 50 years because hav- ing such a beautiful big building where people can come and do all these events and competi- tions is so important for Calgary, the province and for Canada.” Added van Koeverden: “I’ve been meeting with Minister Boitchenko for the last year or so. In those engagements, we’ve talked about the most important investments that we are going to collectively make in sport and the Calgary Olympic Oval has been top among those priorities.” Dubbed “the fastest ice in the world” with help from Calgary’s altitude and dry climate, over 300 speed skating world records were set in Calgary by Canadian and international skaters. But Salt Lake City’s younger oval has recently gained the up- per hand in the long-standing contest between the two venues for world records. Calgary’s is the oldest of Cana- da’s three indoor ovals. Quebec City’s Centre de glaces Intact Assurance, which opened in 2021 for $68.7-million, has hosted international speed skat- ing competitions. The $44-million Pomeroy Sport Centre in Fort St. John, B.C. opened in 2010. The feds will also invest just over $4-million into snowboard facilities in Quebec, Yukon and Alberta, and $3.65-million into ski racing facilities in Alberta and B.C. The Athlete Assistance Pro- gram, or “carding,” envelope in- creased to $43-million annually for Olympic and Paralympic ath- letes, who each currently receive about $2,175 monthly. About 1,900 athletes in more than 90 sport disciplines are ap- proved for AAP annually.

W L Pct GB Indiana 17 10 .630 — Atlanta 16 10 .615 1/2 New York 15 12 .556 2 Washington 14 12 .538 21/2 Toronto 10 16 .385 61/2 Chicago 9 18 .333 8 Connecticut 7 20 .259 10

W L Pct GB Minnesota 22 6 .786 — Golden State 19 8 .704 21/2 Las Vegas 18 8 .692 3 Dallas 18 9 .667 31/2 Portland 11 16 .407 101/2 Los Angeles 10 16 .385 11 Phoenix 10 18 .357 12 Seattle 6 23 .207 161/2 Monday No games scheduled.

TueSday All TimeS EaSteRn Connecticut at Washington, 7:30 p.m. Toronto at Minnesota, 8 p.m. Indiana at Seattle, 9:30 p.m. New York at Los Angeles, 10 p.m. Portland at Las Vegas, 10 p.m.

WNBA SCORING LEADERS At the All-StaR BReak GP FG FT PtS Avg A. Wilson, LV 24 224 153 626 26.1 K. Mitchell, Ind 27 219 117 629 23.3 B. Stewart, NY 26 182 162 548 21.1 M. Mabrey, Tor 25 172 98 524 21.0 C. Clark, Ind 23 151 121 483 21.0 P. Bueckers, Dal 25 199 78 522 20.9 K. Copper, Phx 27 184 141 553 20.5 A. Gray, Atl 26 167 118 497 19.1

CEBL EASTERN CONFERENCE

GP W L Pct GB x-Scarborough 22 18 4 .818 — Brampton 21 10 11 .476 71/2 Niagara 22 10 12 .455 8 Montreal 22 9 13 .409 9 Ottawa 22 9 13 .409 9

GP W L Pct GB x-Vancouver 22 14 8 .636 — x-Winnipeg 22 13 9 .591 1 x-Saskatoon 21 10 11 .476 31/2 x-Edmonton 22 9 13 .409 5 Calgary 22 7 15 .318 7 Monday No Games Scheduled.

Sunday Edmonton 100 Calgary 89 Niagara 106 Ottawa 102 Scarborough 91 Montreal 87

TueSday All TimeS EaSteRn Vancouver at Montreal, 7:30 p.m.

RESULTS AS OF MONDAY, JULY 27, 9:30 P.M.

Page 29

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A

Jets’ Glenn, Bucs’ Bowles and Bengals’ Taylor

among NFL coaches facing hot-seat pressure

Slow starts to the 2026 season could lead to quick change on the sidelines in several markets

DENNIS WASZAK JR.

he heat is on several NFL coaches – and it has nothing to do with the soon-to-be steamy dog days of training camp. The regular season is still more than six weeks away, but some coaches already face questions about their job security. For a few, such as the New York Jets’ Aa- ron Glenn, Tampa Bay’s Todd Bowles and Cincinnati’s Zac Taylor, slow starts could make their seats pretty toasty early in make-or-break seasons. For some others, suchasGreenBay’sMattLaFleurandPhila- delphia’s Nick Sirianni, there’s not imme- diate pressure, but that could change if their squads don’t live up to lofty expecta- tions and team owners ponder franchise- altering decisions.

TODD BOWLES, BUCCANEERS

Through four seasons with Tampa Bay, Bowles is 35-33 in the regular season and haswonthreeNFCSouthtitles.Butlastsea- son’s collapse, during which the Bucca- neers went 2-7 down the stretch to finish 8-9 and miss the playoffs, had some think- ingBowles’sdayswiththeteamweredone. Instead, the Bucs opted to stick with him. He’ll likely need double-digit wins, a rebound performance from quarterback Baker Mayfield under new co-ordinator Zac Robinson and some postseason suc- cess to stay around. The Bucs’ defence – which Bowles calls himself – also must be much improved.

DAVE CANALES, PANTHERS

Carolina made the playoffs for the first time since the 2017 season, but did so with an 8-9 record. The Panthers started 1-3 be- fore three straight victories, and then alter- nated losses and wins over the next eight games before dropping its last two and backing into the playoffs, where the Pan- thers lost in the wild-card round. Canales is 13-21 in his first two seasons in Carolina, which hired him in large part to develop Bryce Young into a quarterback worthy of his No. 1 overall selection in the 2023 draft. But Young has been up and down. Canales handed off play-calling du- ties to offensive co-ordinator Brad Idzik and his job could depend on Young finally showing consistent progress this season.

AARON GLENN, JETS

The former Pro Bowl cornerback returned to New York as a head coach to lead the Jets

Elks’ receiver Mack has Randy Moss moment in win over Riders

DAN RALPH

ustin Mack had a Randy Moss moment Thursday night. The veteran CFL receiver had a tidy four catches for 173 yards and two touchdowns in the Edmon- ton Elks’ 36-34 road win over the Saskatchewan Roughriders. Mack came close to mimicking Moss’s iconic 1998 rookie performance when he had just three catches for 163 yards and three TDs in the Minnesota Vikings’ 46-36 victory over the Dallas Cowboys. “Yeah, it was [a dream game], it would be for any receiver,” Mack said in a telephone inter- view. “To have that type of pro- duction, definitely one of the best of my career so far up here.”

Pirlo out of running for Italy job amid flap over deal with Russian betting firm

ANDREW DAMPF ROME

Andrea Pirlo is out of contention for the Italy job amid political concerns over a sponsorship deal with a Russian betting firm. The flap over Pirlo reportedly has Paolo Maldini considering stepping down just 16 days into his new job as the technical di- rector charged with restoring or- der for the Azzurri. This after Pep Guardiola and Carlo Ancelotti had already turn- ed down offers to coach a na- tional team that has failed to qualify for three straight World Cups. The crisis surrounding Italy’s once-proud squad is expanding to new dimensions four months after the four-time World Cup champion was beaten by Bosnia- Herzegovina in a qualifying

Tampa Bay Buccaneers head coach Todd Bowles, right, watches players practice last month. Despite winning three NFC South titles in his four seasons in Tampa, Bowles’s job could be on the line if the team struggles this season. CHRIS O'MEARA/THE ASSOCIATED PRESS

THE ASSOCIATED PRESS

back to respectability. Instead, Glenn be- came the first in team history to lose his first seven games in his debut season with the team, which went 3-14 and missed the playoffs for the 15th straight year. Glenn overhauled his coaching staff and hired Frank Reich to run the offence and Brian Duker was brought in as the defen- siveco-ordinator,butGlennwillnowmake the play calls for a subpar defence that be- came the first to not get an interception for anentireseason.NewYorktradedforGeno Smith as a bridge to the team’s future QB. Another losing season will put the Jets in play to draft one early next year, but Glenn might not be around in that scenario.

MATT LAFLEUR, PACKERS

Wait, how’s he on this list? LaFleur has made the playoffs six times in seven sea- sons,is76-40-1intheregularseasonandgot a multiyear contract extension in January. But he has only one playoff win since 2021 and his 3-6 record in the postseason has some Packers fans getting restless. A four-game losing streak to end the regular season and a first-round playoff exit at Chi- cago – during which Green Bay blew a 15- point lead in the fourth quarter – didn’t help. With the Packers expected to again be playoff contenders with quarterback Jor- dan Love leading the way, LaFleur’s job sta- tus likely won’t be an issue until January.

Mack’s first TD grab covered 57 yards in the third quarter before he took a Cody Fajardo pass 81 yards late in the fourth. Still, Ed- monton (6-1) needed Vincent Blanchard’s 57-yard boot on the final play to earn a third straight victory and move four points ahead of Saskatchewan (4-2) atop the West Division. The two teams meet again Sat- urday at Commonwealth Stadi- um. Fajardo finished 25-of-32 pass- ing for a career-best 510 yards with four TDs. The 6-foot-1, 208-pound Mack is in his first season with Edmon- ton and leads the team in receiv- ing (34 catches, 579 yards, five TDs). The Elks are looking to earn their first playoff berth since 2019. The former Ohio State Buckeye

playoff. Pirlo himself confirmed that he was out in an Instagram post Monday, saying he “heard last night that I’m no longer the can- didate for the Italy national team job.” Several Italian politicians had raised concerns about Pirlo’s contract to be an ambassador for Fonbet, saying the national team coach should not have conflict- ing views on Italy’s support for Ukraine in the war with Russia. Pirlo, who had been prepared to leave his current job as coach of Dubai United, was an unpop- ular choice after unsuccessful stints coaching Juventus and Sampdoria – despite having been one of the standout players when Italy last won the World Cup in 2006. Pirlo said the Fonbet deal was linked to his job in the United

Thingscouldgofromlukewarmtosizzling, though, if Green Bay doesn’t win at least one postseason game.

NICK SIRIANNI, EAGLES

Similar to LaFleur, Sirianni’s job would seem to be in no immediate danger. He has a Super Bowl victory, two NFC champion- ship wins, three NFC East titles and a 59-26 regular-season record in his five years. There was major disappointment last season, though, after the Eagles lost at home to San Francisco in the wild-card round.Abouncebackperformance,includ- ing a solid postseason run, is expected, evenwithoutA.J.BrownasJalenHurts’sgo- to receiver in new co-ordinator Sean Man- nion’s offence. Sirianni was on the hot seat entering the 2024 season after the Eagles started 10-2, faded down the stretch and got blown out by Tampa Bay in the wild-card round. He followed that by leading Philadelphia to a Super Bowl victory. Sirianni and the Eagles – and their fans – would certainly sign for a repeat of that rebound.

SHANE STEICHEN, COLTS

Steichen was mentioned as a potential AP coach of the year as the Colts got off to an 8-2 start. Then, quarterback Daniel Jones was lost for the season with a torn Achilles

signed with Edmonton in late Ja- nuary, just three days after being released by Montreal. Mack, 28, spent his first three CFL cam- paigns with the Alouettes but was let go ahead of a reported $45,000 bonus that was due Feb 1. The move to Alberta reunited Mack with Fajardo – they helped Montreal win the ’23 Grey Cup. But it has also provided Mack, his wife, Joye, and their two young daughters with a comfortable landing spot. “When I got to free agency, it was with my family in mind,” Mack said. “I wanted to go some- where that cared about them.” Rankin was Edmonton’s offen- sive catalyst early this season, rushing for 100 or more yards in four of its first five games while adding 26 catches for 297 yards.

Arab Emirates and is “exclusively for commercial and sports” pur- poses. “Attributing a political signif- icance to that collaboration means attributing beliefs to me that I have never expressed and don’t belong to me,” Pirlo added. “My love for Italy doesn’t depend on a job. It’s part of my history, my identity and it will remain forever.” Pirlo was at best a third choice after Brazil coach Ancelotti and former Manchester City manager Guardiola turned down offers from Maldini and special adviser Leonardo. But Pirlo was preferred by his former AC Milan teammate Mal- dini ahead of figures like former Italy coaches Roberto Mancini and Antonio Conté because he was seen as someone more will- ing to adapt to new policies and

Rankin has cooled off (48 yards rushing on 19 carries, nine catch- es for 73 yards over the Elks’ last two games) but others have stepped up. “It’s all about how a season de- velops,” Mack said. “Early on, you see honest boxes, and when we see that, Justin will take the ball to the house every single time, so we’re going to definitely try to ex- ploit that. “As we continue through the season, teams aren’t going to want to lose to that. So we’ve got to be able to maximize the game plan, and you’re seeing us start to do that.” And for a receiver, it’s under- standing there are more ways to contribute offensively than with catches. “The first two games of the sea-

promote younger players in an attack-minded system. Gennaro Gattuso, another for- mer Milan player, left as Italy’s coach by mutual consent in April after the defeat in Bosnia. Now Mancini and Conté are back being discussed for the job, while Maldini is reportedly upset that Pirlo was turned down. The final decision lies with Italian soccer federation presi- dent Giovanni Malagò, who was elected in June after leading the Milan Cortina Olympics organiz- ing committee and, previously, the Italian Olympic Committee. Mancini coached Italy to the European Championship title in 2021 then failed to get the Azzur- ri to the following year’s World Cup before bolting to take over Saudi Arabia’s national team. He left Saudi Arabia in 2024 and was most recently coach at Al-Sadd

tendon and Indianapolis lost its last seven games – even after bringing Philip Rivers out of retirement – to miss the playoffs. Owner Carlie Irsay-Gordon was encour- agedbytheteam’sstrongfirsthalf,though, and decided to keep the coach in place. Steichen is 25-26 in his three seasons with theColts,whohavemissedtheplayoffsthe past five years. With Jones healthy and signed to a two-year extension, Steichen would feel a lot more secure if the Colts re- semble the promising team through 10 games last season.

ZAC TAYLOR, BENGALS

The Bengals have been notoriously slow starters in September under Taylor, but opened last season 2-0 and appeared on theirwaytoputtingthatnarrativetorest.A turf toe injury sidelined quarterback Joe Burrow for nine games and Cincinnati crawled to a 6-11 finish and a third straight season without a playoff appearance. A healthy Burrow is paramount to the success of the Bengals, whose Super Bowl tripinthe2021seasonisbecomingadistant memory. A revamped defence, including acquiring defensive tackle Dexter Law- rence, should help. So it’ll be on Taylor, in his eighth season with Cincinnati, to break the playoff slump or that might be some- one else’s task next year.

sonweknewweweregoingtorun the ball; everybody in the stadi- um did,” Mack said. “I had two pancake blocks after those two games; I was out here trying to pancake guys. “There are so many other ways how you can impose your will on an opponent, not just catching the ball.” Edmonton last posted a .500 regular-season mark in 2018 (9-9). “There are guys here who want to play together, who want to work together,” Mack said. “I know culture and identity are a big part of what you try to build in a winning organization, and that’s something we have this year.”

THE CANADIAN PRESS

in Qatar. Conté coached Italy to the quarter-finals of the 2016 Eu- ropean Championship and was most recently at Napoli. Another option could be for- mer Inter Milan coach Simone Inzaghi, who is currently coach- ing in the Saudi league. Whoever gets hired will be Italy’s fourth coach in as many years. When Luciano Spalletti was fired after Italy lost its opening qualifier to Norway last year, Claudio Ranieri turned down an offer to replace him and the much less experienced Gattuso was hired instead. Italy next plays in September and October, when it will face Belgium, Turkey and France in the Nations League.

Page 30

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Katzberg wins gold for Canada in hammer

throw; gymnasts collect six medals

F

Lia-Monica Fontaine, Jordan Carroll and Félix Dolci all take gold in gymnastics

Hammer throw champion Ethan Katzberg added another major ti- tle to his collection while Cana- dian gymnasts racked up six medals on a banner day at the Commonwealth Games on Mon- day. Katzberg, a two-time world champion and Paris 2024 Olym- pic gold medalist, won the men’s hammer throw title with a Games-record 80.97 metres on his first attempt at Scotstoun Sta- dium. The 24-year-old from Nanai- mo, B.C., moved one step up the podium after claiming Common- wealth silver in 2022. Rowan Ha- milton of Chilliwack, B.C., won bronze with 75.36, finishing be- hind Iosif Kesidis of Cyprus (76.97) Earlier on Monday, Lia-Monica Fontaine, Jordan Carroll and Félix Dolci captured gold medals in gymnastics. Fontaine scored 14.000 in the women’s vault to beat England’s Abigail Martin (13.799) and Wales’ Abigail Roper (13.433). The 16-year-old from Salaber- ry-de-Valleyfield, Que., earned her third medal of the Games af- ter taking bronze in the all- around final and helping Canada claim silver in the women’s team event. “I’m really happy to be repre- senting Canada and winning three medals is incredible,” she said. Carroll, a 20-year-old from Sas- katoon, won the men’s pommel

Tempo emerge from all-star break

in tough spot to try to make playoffs

JOHN CHIDLEY-HILL

he Toronto Tempo resume their season with a stop in Minnea- polis against the league-leading Minnesota Lynx on Tuesday night. Here’s what you need to know about the Tempo when they return from the WNBA all-star break.

MABREY STARRING FOR TEMPO

Shooting guard Marina Mabrey has been the breakout star of the Tempo’s inaugural season. She’s averaging 21 points, 3.6 assists and 3.4 rebounds per game this year. Her 3.3 three-pointers per game are the most in the WNBA. She had 23 points, including 5-for-12 shooting from beyond the arc, for Team Coop in a 129-122 loss to Team Spoon at the WNBA All-Star Game on Saturday.

INJURY BUG IS FEASTING

Toronto’s starting lineup has yet to play a game together in the team’s inaugural season. Starting guard Brittney Sykes (left plantar fascia) has been out since

Braves manager Weiss blames limit on pitchers for roster churn

NOAH TRISTER

he Atlanta Braves called up right-hander Elieser Hernández from the minor leagues and a few days later he finally ap- peared in his first big league game since 2024. After throwing three scoreless in- ningsinreliefandearningthewinatBal- timore, he was immediately designated for assignment. “I hate it, to be honest with you,” Braves manager Walt Weiss said. “I wish the rules were different.” What Atlanta did is fairly common now. If a pitcher works several innings of relief – even if he does so effectively – keeping him is essentially wasting a ros- ter spot for the next couple days. So a fresher arm is brought in to replace him. Baseball’s union is proposing rule changes related to this type of roster churn. The players want pitchers op- tioned shortly after an outing of at least nine outs or 50 pitches to get major league pay and service time for the four days following the appearance. The union is also proposing to reduce the number of optional assignments to the minors from a maximum of five per sea- son to three. That wouldn’t necessarily have helped Hernández, since he was desig- nated for assignment, not optioned. Weiss didn’t mention the option rules but instead took aim at the limit of 13

Canadian Lia-Monica Fontaine scored 14.000 in the women’s vault to beat England’s Abigail Martin (13.799) and Wales’ Abigail Roper (13.433). MATTHEW CHILDS/REUTERS

June 16 and there’s no set timetable for her return. Head coach Sandy Brondello was more optimistic on Sunday about forward Kiki Rice (ankle sprain), who has been out since June 3. Rice partici- pated in a full practice on Monday morning and was listed as questionable for Tuesday’s game in Minnesota.

UP AGAINST THE CLOCK

The Tempo (10-16) sit 10th in the league standings with 18 games left in the sea- son. Toronto trails the eighth-place Washington Mystics (14-12) for the final playoff spot. The Tempo have the sec- ond-hardest strength of schedule in the WNBA with an average win percentage of .552. That includes four games against the top two teams in the league: Minne- sota and the Golden State Valkyries.

A MOVE TO SCOTIA

Scotiabank Arena will host the Tempo’s next two home games, first on Thurs- day against the Lynx and again on Aug. 18, with Caitlin Clark and the Indiana Fever visiting. That arena has nearly 12,000 more seats than Toronto’s usual home venue of Coca-Cola Coliseum.

pitchers on a roster. “I wish the number of pitchers we- ren’t restricted,” Weiss said Saturday. “I think if you were able to carry an extra pitcher here and there, you wouldn’t have to do those things – have to DFA a guy that was one of the heroes of the game last night. We want to be able to reward those guys, not DFA them.”

TRIVIA TIME

Jacob Misiorowski of the Milwaukee Brewers struck out the first seven hitters he faced – and 12 of the first 13 – on Sun- day against Colorado. He’s now up to 185 strikeouts this year, an average of 13.88 per nine innings. The single-season record for strike- outs per nine innings (with a minimum of 100 innings) is 13.82. Who holds it?

PERFORMANCE OF THE WEEK

Dylan Cease threw a one-hitter in Toron- to’s 6-0 win over Boston on Saturday. He was the first Toronto pitcher to throw a one-hit shutout since Brandon Morrow in 2010. Cease threw a no-hitter two years ago, but he was with San Diego then. Earlier this month, he took a no-hitter into the ninth at San Francisco, but he was pulled after it was broken up.

horse title with a score of 15.000 to edge Scotland’s Reuben Ward (14.966) and Cameron Lynn (13.833). “Breaking the 15 mark, it’s been agoalofmineandI’mgladIcould finally do it,” Carroll said. “I did the routine of my life, I’m happy with the result and I’m feeling great right now.” Dolci capped the day with gold in the men’s rings final for his third medal of the Games.

The Tempo’s first game at Scotiabank Arena – home of the Raptors and Maple Leafs – was an 89-80 loss to the Phoenix Mercury in front of 15,687 fans on June 27.

COACH IS BACK

Tuesday’s game will see Brondello re- turn to the Tempo’s bench after a one- game suspension for referring to Atlan- ta Dream forward Angel Reese as a “pro- tected species.” The comment, picked up by the broadcast after Reese drew a foul on Toronto player Nyara Sabally, quickly drew criticism. Brondello, a former player who has won two WNBA titles, is Australian. The “protected species” phrase is used in Australian sports to express frustration over a lack of calls against a player. However, in the U.S., the phrase sug- gests that someone isn’t human and could be seen as derogatory toward Black people. Brondello apologized the next day, which Reese accepted, saying she appreciated the league’s swift ac- tion.

THE CANADIAN PRESS, with files from The Associated Press

THE CANADIAN PRESS

5-0beforescoringeightrunsinthetopof the sixth Friday night. The Astros went on to win 9-5. Christian Walker hit a three-run dou- ble to make it 5-4, and one out later Cam Smith hit a two-run homer that put Houston ahead to stay.

TEAM OF THE WEEK

(This honour goes to the team with the best record over the past seven days, us- ing run differential as a tiebreaker if need be. A tiny sample, yes, but this is basically the amount of time it takes to win a playoff series.) The Tampa Bay Rays went 6-1 this past week and are still holding off the New York Yankees atop the AL East. The Rays lead by three games. Tampa Bay took three of four at To- ronto before sweeping three against Cle- veland, shutting out the Guardians in the final two games. The Rays are extremely likely to make the playoffs in some fashion for the first time since 2023. The question now is whether they can pull off a deadline deal that helps them outlast the Yankees and the surging Red Sox for a division title and first-round bye.

The 24-year-old scored 13.766 to edge fellow Laval, Que., native William Émard (13.600) as Cana- da finished one-two on the podi- um. Australia’s James Hardy took bronze with 13.500. Dolci redeemed himself after settling for silver in the all- around final due to falling from the pommel horse twice. He then just missed the podium in the in- dividual floor with another stum- ble.

“I fail many times in my life, non-stop. I fail every single day in training. That’s something I’m used to,” he said. “Whether you succeed or you fail, the next time you go up in the event, the goal is to do even better every single time.” Canadian veteran Ellie Black of Halifax added silver in the wom- en’s uneven bars, one day after winning her second career Com- monwealth Games all-around ti- tle. Ren Cournoyer of Repentigny, Que., also earned silver in the men’s floor exercise. The five-day gymnastics com- petition wraps Tuesday at Glas- gow International Arena. In weightlifting, Ann-Sophie Taschereau of Plessisville, Que., claimed silver in the women’s 58- kilogram category while Rebeka Groulx of Saint-Bruno-de-Mon- tarville, Que., won bronze in the women’s 53kg event. Canada added a pair of medals in Para athletics. Michael Barber of Victoria fin- ished second in the men’s 1,500- metre T20 final with a time of 4:01.84, and Zachary Gingras of Markham, Ont., won bronze with a personal best of 11.55 seconds in the men’s 100 T38 final. Canada now owns 21 medals – seven gold, eight silver, six bronze – to rank third behind Australia and England. In other results, the Canadian men’s and women’s wheelchair basketball teams fell to 1-2 in pool play with respective losses to Australia. The Canadian men lost 20-12 to defending champion Australia before the women’s team drop- ped a 12-10 decision in overtime.

Plush dragon flies

off shelves after appearing in Jays homer celebration

TARA DESCHAMPS TORONTO

or years, Simply Wonderful Toys has stocked a plush red dragon on a stick. The toy has a light-up flame coming from its mouth and a mighty roar, and was a reliable seller with a few getting scooped up an- nually. But in early July, the Guelph, Ont., store and many other Canadian toy shops sold out of the dragon overnight. Driving the unexpected surge in de- mand was an unlikely source: the To- ronto Blue Jays. The Major League Base- ball team celebrated left fielder Jonatan Clase’s three-run homer against San Francisco with the red dragon on July 7. By the next morning, stores that stocked the toy had been cleaned out. Keeley Cea, an assistant manager at Simply Wonderful Toys, said the few the shop had in stock were bought in the wee hours of the morning. “We had no idea what was going on,” she said. “Then we saw the videos of the game and realized that it was the same dragon that we have been selling for years, so it was kind of a shock.” The store has requested more from Schylling, the Massachusetts-based manufacturer, which did not immedi- ately respond to a request for comment on the dragon’s recent popularity. When the restock does arrive, Cea says Simply Wonderful Toys already has a wait-list of people wanting one. Some are from local baseball teams looking to celebrate with their own dragon. Lifelong Blue Jays fan Adira Winegust went in search of the dragon soon after spotting it with Clase. “I thought, oh my god, I have to get this now,” recalled the Kingston mother of three. “There’s one independent toy store and they were sold out already, but with some sleuthing, I found that there was one in Ottawa.” Winegust’s younger children have since been playing with it at home while her eldest, eight-year-old Emmett Glatt, lends it to his baseball team. Their mom bought the dragon just in time. Most online retailers’ websites show they have completely sold out and the few available on resale plat- forms are going for as much as $200. Toy Town in Toronto is one of the few places with the dragon still in stock. Owner Shari Bricks says her store sold out of the handful of dragons she had after the Jays debuted the toy. It recently restocked, but only has six left. “It’s calmed down a little bit, but when people see them in the store, they’ll comment, and if they have a loved one that they know would love it, they’ll pick it up,” Bricks said.

Page 31

B

At 103, Omaha man is a daily

presence on local golf course

Bob Walls took up golf

after he retired and has made it a way of life, even as a centenarian

ERIC OLSON OMAHA, NEB.

ob Walls was getting set to tee off on the first hole at his home course last week when his partners interrupted his preshot routine. “Get back here, man,” James King said. “We’re playing blues today,” Dawn Dozier added. Walls wasn’t having it. “When you’re over 100, you canhitfromanywhereyouwant,” he told them. Then, with a silky smooth swing from the forward white tees, he thwacked the ball down the right side of the fairway just short of the green on the 180-yard hole. Not bad for a 103-year-old. Ac- tually, pretty incredible. A record 6.3 million Americans 65 and older played golf in 2025, the National Golf Foundation re- ported this month. The NGF does not track the number of cente- narians, but there undoubtedly are few, if any, who play as well and as often as Walls. Walls is fit and trim and looks 30 years younger. He has survived a heart attack, has had multiple heart surgeries and overcame a transient ischemic attack (mini stroke). He credited good genes – bothofhisparentslivedintotheir late 90s – for his longevity, along with staying active. The notion that he’s a freak of nature doesn’t register with him. “I don’t feel 103. I don’t act 103,” he said. “To me it’s no big deal.” Born in St. Marys, Kan., in 1923, Walls moved to Omaha in 1947 af- ter he served in the Second World War. He spent most of his work- ing years owning and operating a janitorial service. He retired at 74 and, with friends’ encouragement, took up golf. Steve Hogan, who was Ne- braska’s first Black PGA profes- sional, taught Walls how to play at what was then Miller Park. The two became close friends, and Walls honours Hogan’s memory

Sabalenka, Djokovic top the teams entered

into U.S. Open mixed doubles championship

BRIAN MAHONEY NEW YORK

Top-ranked Aryna Sabalenka and 24-time Grand Slam champion Novak Djokovic headline the ini- tial list of 16 teams entered into the U.S. Open mixed doubles championship. The tournament was over- hauled last year, with a US$1-mil- lion prize going to the winners, in an effort to get top singles players to compete. Many of those types of stars were listed among the teams announced Monday by the U.S. Tennis Association. Iga Swiatek and Casper Ruud, the runners-up in 2025, are en- tered again, along with Elena Ry- bakina and Taylor Fritz, the Japa- nese duo of Naomi Osaka and Kei Nishikori, and Jessica Pegula and Jack Draper. The main draw will be played over two days on Aug. 25-26, with all the matches set to be held in Arthur Ashe Stadium and Louis Armstrong Stadium, the two big- gest venues at the U.S. Open, and televised on ESPN’s properties. Teams can enter up until Aug. 17,whenthesixduoswiththebest combined singles rankings at the time will be automatically en- tered into the main draw. That means Sabalenka, the two-time defending U.S. Open women’s champion, and Djokovic, still ranked No. 5 on the men’s tour at theofage39,willbesafelyintothe field. Eight teams will be given wild cards by the USTA, and two other teams will play their way into the field through a qualifying tourna- ment to be held Aug. 24. The remainder of the teams that were entered as of Monday: Mirra Andreeva and Andrey Rublev;BelindaBencicandFlavio Cobolli;DianaShnaiderandDani- il Medvedev; Amanda Anisimova and Learner Tien; Alex Eala and Canada’s Félix Auger-Aliassime; Canada’s Leylah Fernandez and Frances Tiafoe; Taylor Townsend and Alexander Zverev; Elena-Ga- briela Ruse and Nuno Borges; Sa- ra Errani and Andrea Vavassori; Katerina Siniakova and Henry Patten, and siblings Peyton

Bob Walls, a 103-year-old golfer, tees off on the third hole at Steve Hogan Golf Course in Omaha, Neb., on Friday. ERIC OLSON/AP

by volunteering seven days a week at the course, which was re- named Steve Hogan Golf Course after his death in 2008. Walls spends five or six hours riding around in his open-top cart with a bucket of seed-and-sand mix on the passenger side. He fills divots and repairs ball marks, picks up trash and fishes other golfers’ errant shots out of the la- goon with his ball retriever. Always strapped on the back of the cart is his golf bag, because he never knows when the mood will strike to stop and play a hole or maybe work on his game. Outside the clubhouse are a couple of training devices Walls made to help young players get a feel for the golf swing arc. He has worked with kids in the First Tee program and gives lessons to adults for US$50 per hour. The course holds an annual tourna- ment, the Bob Walls Invitational, to raise money for equipment for neighbourhood kids. When he gets home from the course each day, he often gets on his iPad and watches hours of training videos. “When I visited him for his 101st birthday, I wasn’t even in the door and the first thing he said to me was that he was breaking down his whole game, changing this, changing that,” Dozier said. “He’s always working on his game.” Walls has still got plenty of game. He regularly shoots in the

FERNANDEZ BESTS LINETTE TO ADVANCE TO SECOND ROUND AT D.C. OPEN

Canada’s Leylah Fernandez opened her title defence with a first-round victory at the D.C. Open on Monday. Fernandez, the tournament’s seventh seed, downed Poland’s Magda Linette 6-1, 6-4, winning the match in one hour 19 min- utes. The 23-year-old from Laval, Que., captured the title at the WTA 500 hard-court event last year for the biggest tournament win of her career. “There’s definitely some nerves, a little bit of pressure, because you’re a defending champ,” she said after defeating Linette. “You can’t really escape that word ’defending champ’ because it’s kind of everywhere. You see your name in the stadi- um beside [2025 ATP winner] Alex de Minaur, so it’s like you can’t escape it.” Fernandez ranks 34th in the world but has struggled to find a rhythm this year, posting a 13-19 record in singles.

Stearns and Preston Stearns. Errani and Vavassori are the two-time defending U.S. Open champions. The Italians needed a wild card to get into last year’s event because their singles rank- ing was too low, and that will be the case again this year. The U.S. Open was initially crit- icized last year because the for- mat of the event shut out doubles specialists such as Errani and Va- vassori, but the tournament cer- tainly seemed a success, helping draw 78,000 fans to the grounds and selling out Ashe both days. “Any time you can bring wom- en and men together on the same team, you showcase tennis at its best. This is exactly what the mixed doubles championship does,” USTA CEO Craig Tiley said in a statement. “The mixed doubles cham- pionship is an innovation that

low 30s on the par-three Hogan course. In fact, the other day he shot 31 to win a match against course manager Mike Rice. “The first time I beat him – and I haven’t beaten him very often – I had to have a hole-in-one to do it,” Rice said. “Who’d ever thought a 103-year-old gentle- man could knock a ball 180 yards consistently every day and have enoughenergyandstrengthtodo it?” Walls spends the fall and win- ter in Phoenix and is on a course or practice range every day there, too. “Golf is the first thing I think about when I wake up in the morning,” he said. He fusses over his stance, swing plane and the direction his shoulders are pointing at his fin- ish. Recently, he’s been working on getting more consistent with his lob wedge so he doesn’t have to rely so much on his sand wedge. “He’s going to hit right down the middle and the next shot is going to be on the green,” King said. “He’s not going to do any- thing to hurt himself. Sweet and easy. That’s what I love about his game. And he practices, too. Ev- ery day he hits a few balls, and I know he does because I’m down here most every day. I love play- ing with him. I think he’s one of kind.”

THE ASSOCIATED PRESS

On Monday, she hit two aces and converted five of nine break-point opportunities. Linette, meanwhile, capitalized on just one of three. “It’s tough when the begin- ning of the season doesn’t go the way that you want it to go,” Fernandez said ahead of the tournament. “But I try to kind of take it day by day and enjoy the process, the hard work, the hours on court, trying to find the positives in things. “I definitely think back on those memories, on those feelings, the positive feelings, the fight, the energy that the crowd brought. So I try to use that to my advantage and try to go back into that state, and hopefully I can reproduce that here.” Fernandez will face the winner of Tuesday’s match between Alexandra Eala of the Philippines and Zheng Qinwen in the round of 16. THE CANADIAN PRESS

will engage new audiences and giveourfansanotheropportunity to see the biggest stars compete together.” Errani and Vavassori were the only traditional doubles team in last year’s tournament. There is a chance for more this year – Sinia- kova and Patten are doubles spe- cialists – with the addition of the eight-team qualifying tourna- ment, which will include six di- rect entries and two wild cards. The format will be best-of- three-set matches with sets to four games, tiebreakers at four-all and a 10-point match tiebreak in- stead of a third set, through the semi-finals. The final will be stan- dard scoring with sets to six games and a tiebreaker at six-all, and a 10-point match tiebreaker if necessary.

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DEATHS

LLOYD DAVID LAVINE

Lloyd DAvid LAvine, born JAnuAry 11, 1933, in Toronto, OntArio, pAssed AwAy peAcefully on July 23, 2026.

He wAs predeceAsed by his pArents, LilliAn And MAurice LAvine; his son, Joel; And his second wife, JuliA.

Lloyd grew up in Toronto And Attended Forest Hill CollegiAte, where he met TemA Bernstein (now Title), with whom he rAised three children. A grAduAte of the University of Toronto with A BAchelor of Commerce, Lloyd built A successful cAreer As A ChArtered AccountAnt. EArlier in his cAreer, he worked in the investment And mortgAge business, serving As A mAnAging pArtner And enjoying whAt he fondly cAlled “wheeling And deAling” to strengthen his clients’ portfolios. In his finAl working yeArs, Lloyd wAs A pArtner At Price WAterhouse, where he Also becAme A Fellow ChArtered AccountAnt (FCA).

Lloyd is survived by his dAughters, MonA (Rocco) And SusAn (Bruce); his brother, AlAn (CArol); And his four beloved grAndchildren, Drew (RebeccA), MorgAn (JAne), Griffin (Deryn), And MAdison, of whom he wAs immensely proud. Known to them As “ZAidie,” he wAs A loving And generous fAther And grAndfAther.

The fAmily extends heArtfelt thAnks to Lloyd’s devoted cAregivers ClAritA EgAr, Florence Soliven, And RyAn EgAr for their compAssionAte cAre.

At BenjAmin’s PArk MemoriAl ChApel, 2401 Steeles Avenue West (3 lights west of Dufferin) for service on SundAy, August 2nd At 10:00 A.m. Interment to follow At Holy Blossom MemoriAl PArk.

MemoriAl donAtions mAy be mAde to the chArity of your choice.

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Precious

memories

ROBERT EDWIN WIFFEN 1934 – 2026

Just shy of his 92nd birthdAy, And with the love of his life, Amy, holding his hAnd, Bob pAssed AwAy peAcefully, At WAterloo Hospice on ThursdAy, July 23, 2026. Bob’s story is, Above All, A love story. He And Amy met At EAst York High School in 1949, mArking the beginning of A mAgnificent 77-yeAr pArtnership And 69 yeArs of mArriAge. Together, they were the perfect exAmple of unity, devotion, And mutuAl respect. He wAs A proud And deeply loved dAd to DAvid (MArci), WArd, And DiAnA (Bob); And A cherished grAndfAther to ZAck. Born in Toronto to Edwin And Amy Wiffen, Bob went on to build A long And fulfilling 40-yeAr cAreer with IBM. He took greAt pride in his work And wAs quietly recognized yeAr After yeAr for his exceptionAl dedicAtion, consistently eArning the compAny’s highest internAl honours for performAnce. In 1973, his cAreer moved the fAmily to WAterloo, where he And Amy were instAntly welcomed into A wonderfulcircleofneighboursAnd friends. Those initiAl introductions blossomed into deep, lifelong friendships thAt spAnned over five decAdes. Bob wAs A nAturAlly populAr guy, drAwing people in with his exceptionAlly kind heArt, shArp intelligence, And brilliAnt sense of humour. He truly mAde An impAct on everyone he met And believed deeply in showing up for his community. Whether he wAs singing bAss in his bArbershop quArtet, serving on the boArd of the Community Justice InitiAtive, volunteering with Third Age LeArning, or helping mAnAge his condo boArd, Bob gAve his time generously. He filled his life with the things he loved: plAying tennis At the locAl club, cApturing the world through photogrAphy, plAying guitAr, listening to music, And trAvelling. Bob follows his pArents, Edwin And Amy; his siblings, BArbArA, Lewis (LAurA), And JoAn; Amy’s pArents, Hikoemon And MAsue; her siblings, TAkAko (TAts), Jimmy (YAye), Keigi (BArbArA), And Aki; And Esther’s husbAnd, Tom. He will be fondly remembered And missed by BArb’s husbAnd, Uwe; Aki’s wife, June; Amy’s sister, Esther; A lArge, loving extended fAmily And countless friends. Our fAmily extends our heArtfelt grAtitude to the incredible, compAssionAte teAms At St. MAry’s HospitAl, GrAnd River HospitAl, And the Hospice of WAterloo Region for tAking such wonderful cAre of Bob in his finAl dAys.

In lieu of flowers, we kindly request thAt donAtions be mAde in Bob’s honour to the Hospice of WAterloo Region, the WAterloo RegionAl HeAlth Network (WRHN), Momiji HeAlth CAre Society or the KW Symphony, And mAy be ArrAnged through the funerAl home At 519-745-8445 or At www.erbgood.com.

DetAils regArding A celebrAtion of Bob’s beAutifully lived life will be shAred in the coming weeks.

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Page 32

T

NOVELIST, 83 AUTHOR USED MURDER-MYSTERY WRITING TO SPARK CHANGE

Author Gail Bowen received numerous accolades during her career. She won the Crime Writers of Canada Grand Master Award in 2018 and was invested with the Saskatchewan Order of Merit, the highest honour in the province, the same year. ROY ANTAL/THE CANADIAN PRESS

MATTHEW FRANK

here was no mystery to the Regina murder case, but crime novelist Gail Bowen couldn’t shake its grip on her work. In 1983, JoAnn Wilson was found dead in her garage – blocks away from Ms. Bowen’s home – after her ex-husband Colin Thatcher, then a member of the Saskatchewan provincial legisla- ture, hired people to kill her as she tried to file for divorce. Mr. Thatcher was convicted of first- degree murder and sentenced to life in prison a year later. Ms. Bowen was haunted by the case of a woman trying to get away from an abusive partner and would talk about it for years, as she frequently drove or walked past the garage. That feeling sparked her pur- suit of writing murder mysteries. She named the main character of her 23-book series, sleuthing po- litical science professor Joanne Kilbourn, after Ms. Wilson. The 83-year-old award-win- ning author died of cancer on June 25. Ms. Bowen’s storied ca- reer raised Saskatchewan’s pro- file, establishing the province as a compelling setting for crime fic- tion. Ms. Bowen was born in 1942 in Toronto. She said she learned to read by looking at the tomb- stones in the city’s Prospect Cem- etery. She studied at the Universi- ty of Toronto and received a bachelor of arts degree in 1964, later earning a master of arts de- gree from the University of Wa- terloo in 1975. She pursued postgraduate studies at the University of Sas- katchewan and after graduating in 1979, Ms. Bowen taught at the Universities of Regina and Sas- katchewan, the Saskatchewan In- dian Cultural College and the Sas- katchewan Indian Federated Col- lege, now called First Nations University of Canada. Ms. Bowen became an associ- ate professor at that institution and headed its English depart- ment. Her debut book was a 1987 novella titled 1919: The Love Let- ters of George and Adelaide, about fictional letters sent during the First World. But as she taught stu- dents and absorbed details about her community, Ms. Bowen ven- tured into the crime genre and wrote her first of many Joanne Kilbourn novels.

Her storied career raised Saskatchewan’s profile as she imbued her work with Prairies locales and used her craft to fight social injustice

Released in 1990, Deadly Ap- pearances describes the suspi- cious death of a Saskatchewan politician, mid-speech on a podi- um. His speech writer, middle- aged Joanne Kilbourn, is thrust into uncovering the culprit in the whodunnit. Ms. Bowen’s writing carries the echoes of her home. A footbridge in her neighbourhood would of- ten feature in her novels. One book was set at Saskatoon’s for- mer Mendel Art Gallery. Throughout her books, the inter- connected, small-town feeling of a Prairie city shone through in her characters. Ms. Bowen was deeply offend- ed by injustice and critical of power structures, rigorously re- searching racism, domestic abuse and gender inequality for her novels. She used the medium of mystery writing to raise aware- ness of social issues in the hopes that once people became con- cerned, change would happen. Playwright and retired CBC producer Kelley Jo Burke, a neighbour and friend, remem- bers Ms. Bowen’s family being fix- tures as she balanced her home life with work and writing. She was passionate about exposing hard truths that lingered in their community, Ms. Burke said. “Gail saw how cruel the world that looks nice and friendly, with green lawns and tidy gardens, can be, and she channelled that anx- iety into a tremendous energy for writing these books,” she said. Ms. Bowen received numerous accolades. She won the Crime Writers of Canada Grand Master Award in 2018. And she was in- vested with the Saskatchewan Order of Merit, the highest hon- our in the province, the same year. Her novels have been trans- lated into six languages and widely distributed international- ly. The author routinely refuted suggestions of parallels between her life and that of her sleuthing heroine. In a 2000 profile in The Globe and Mail, she said, “I cau- tion my students not to confuse me with her.” But in fiction and reality, both were academics, mothers, afraid of flying and had a granddaught- er named Madeleine. Starting in 2000, Ms. Bowen’s first six novels were adapted for the small screen and broadcasted on Canadian television, some- thing Ms. Bowen was ambivalent about at the time. While calling

the adaptations “very lucrative and very flattering,” she took is- sue with the setting being moved from Regina to Ontario, and with the lack of Indigenous represen- tation in the made-for-TV mo- vies. She told The Globe and Mail then that she was “still pushing” for Indigenous characters in the series. “I’ve worked among Abo- riginal peoples for 25 years,” she said. “I portray [them in my books] as ordinary people, cops, nurses, businessmen. That’s not a face you ever see in the media.” Despite her misgivings, she still encouraged other authors to pursue television, including Mur- doch Mysteries author Maureen Jennings. The two writers met as mem- bers of Crime Writers of Canada, a professional association for au- thors of the genre. When negotiations were under way on a potential small-screen deal for Ms. Jennings’s novels, she sought advice from Ms. Bowen, whom she credits as saving the Murdoch Mysteries show from fall- ing through. Ms. Bowen pushed Ms. Jen- nings to call the production stu- dio and accept a deal. That call set off a chain reaction for the cre- ation of the long-running CBC crime drama, which marked 19 consecutive seasons this year. “She was very supportive of other writers. Absolutely, her voice was so strong. She was so concerned that she didn’t want me to lose this possibility,” Ms. Jennings said. She views Ms. Bowen’s work as crucial to changing attitudes to- ward Canadian crime writing, which many saw as the “poor cousin of literature.” Ms. Bowen often advocated for authors of the genre to be better respected for their work, Ms. Jennings said. Ms. Bowen was generous with her time for up-and-coming au- thors who were tackling the genre, always willing to stop and engage in conversations. She loved connecting with people and her community, and her books were a vehicle for that. She enjoyed stints as a writer- in-residence at the Toronto Refer- ence Library, Calgary’s Memorial Park Library and the Regina Pub- lic Library. One of the authors who sought her mentorship was crime writer Anthony Bidulka, who also fo- cused his stories around Sas- katchewan.

He said Ms. Bowen made his impossible dream of writing about his home province possi- ble, because her work showed that someone from Saskatche- wan could set a novel’s location there while still being success- ful. The two writers would often visit each other’s book launches and fundraisers, as Mr. Bidulka soaked up everything he could from her. Among the lessons Ms. Bowen imparted that stuck with him the most was the way she would al- low time to pass for characters between each novel in her series, an approach he’s emulated in his own writing. Joanne Kilbourn aged along- side her creator throughout the run of the series. While each nov- el was centred around a mystery, plotting out the crimes wasn’t Ms. Bowen’s favourite part of the process. She liked writing about people best. She sought to parse out a char- acter’s motivations and layer them with social nuances, such as living with a disability or deal- ing with issues faced by Indige- nous people in Saskatchewan. “I stand on the shoulders of Gail Bowen. She really establish- ed the Prairies as a place where, you know, a sophisticated, char- acter-driven mystery can really thrive, and it can have national appeal,” Mr. Bidulka said. Along with her novels, Ms. Bowen loved the theatre and wrote both stage and audio dra- mas. She penned Dancing in Pop- pies, Beauty and the Beast, The Tree and an adaptation of Peter Pan, which were performed at the Globe Theatre in Regina. A side character from her mys- tery series, radio announcer Charlie D, was the inspiration for a CBC audio drama. Ms. Bowen would later return to CBC Radio as a frequent political guest and arts columnist. Ms. Bowen continued writing as her health declined, finishing her 24th and final Joanne Kil- bourn book, titled Homecoming, in the months before her death. The book will be published post- humously. She leaves behind her hus- band, Ted; their children, Hildy, Max and Nathaniel; their spous- es, Brett, Carrie and Willow; and her grandchildren, Kai (Britt), Madeleine (Masan), Lena (Ma- son), Chesney, Ben, Peyton, Lexi, Val, Daxx, Drake and Lynx.

QA Report - The Globe and Mail - 28.07.2026.pdf

Pipeline

  • Extraction route: pymupdf-column-aware
  • extraction_route=pymupdf-column-aware
  • Translation chunks: 120

Non-model Checks

  • WARNING: translated output has low semantic coherence score (0.05)
  • WARNING: Missing proper nouns in translation: Ambassador Bridge, Amber Alert, Amber Alerts, America First, American Century, And Aki, And Amy, And Esther, Andrea Pirlo, Andrey Rublev

Model QA

PDF 翻译质量审核报告 (QA Report)

结论: 发现严重质量问题,无法通过审核 (Blocking Issues Found)

1. 核心缺陷 (Critical Defects)

🚩 严重幻觉与内容篡改 (Hallucinations)

  • 虚构内容/篡改事实: 在 Page 1 翻译中,译文突然出现一段关于“山火/马克龙警告持久战”以及“SecretCanada.com”的文本,而原文预览中完全没有这些内容
  • 凭空出现的财经新闻: 在 Page 2 出现了大量关于“CXMT (长鑫存储)”、“LVMH 财报”、“中国芯片公司”的详细报道。经比对,原文预览中仅有部分 Shein 和 AI 相关的碎片,完全没有上述具体的芯片公司和 LVMH 财报内容。这属于严重的模型幻觉或在翻译过程中混入了其他文档的文本。

🚩 严重缺失与截断 (Omissions & Truncation)

  • 关键段落丢失: 原文 Page 1 中关于“Online sex ads... Indigenous women”的报道在译文中被截断(“数据表明,贩子们经常...”之后直接跳到了其他不相关内容)。
  • AI 报道缺失: 原文预览中关于 Microsoft AI agents, Anthropic, OpenAI 的详细讨论在译文中几乎被完全跳过,直接被替换成了上述的芯片公司幻觉文本。

🚩 数字错误与不一致 (Wrong Numbers)

  • 日期偏差: 译文标题出现 28.07.2026,虽然原文可能涉及 2026 年(如讣告部分),但整体文档的时间线逻辑在幻觉干扰下变得混乱。
  • 金额/数量: 译文在 Page 20 出现了 $2.4-trillion 等数字,虽与部分原文对应,但由于上下文被篡改,这些数字的可靠性已受损。

2. 交付缺陷 (Delivery Defects)

🛠 内部标签泄露 (Internal Labels)

  • 保留了 QA 警告块: 译文开头直接包含了 > [!WARNING] 翻译质量评估未完全通过...。这属于典型的交付缺陷,将内部审计结果直接作为翻译内容交付。
  • 残留英文标记: 出现 (HDFFC|00002V /t.a 等未处理的原始编码/标记。

🛠 术语与格式问题 (Terminology & Formatting)

  • 中英混排不规范: 出现 Riding(乘着) 这种不专业的解释性翻译方式。
  • 残留英文: In 2003, 等词汇在段落开头未翻译。

3. 总结 (Summary)

检查项 状态 备注
忠实度 (Faithfulness) ❌ 极差 存在大规模幻觉,引入了大量原文不存在的财经新闻。
完整性 (Completeness) ❌ 差 关键段落(原住民贩运、AI 安全)被大量截断/替换。
数字准确性 (Numbers) ⚠️ 风险 受幻觉内容影响,数据可信度低。
交付质量 (Delivery) ❌ 失败 包含内部警告标签和未清理的英文块。

审核结果:拒绝 (REJECTED)。建议重新进行翻译,并严格检查模型是否发生了跨文档内容污染。