Canada's Mark Carney left with a dilemma after Trump's crushing midterms defeat

The Independent - Nov 10, 2026

American tariffs on Canadian exports became a key issue in the midterms, with Democrats blaming them for higher prices and pledging opposition

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Wall St falls as hot inflation data fuels rate-hike jitters
Nov 10, 2026
Wall St falls as hot inflation data fuels rate-hike jitters

Wall Street's main indexes retreated on Tuesday, pausing a two-day rebound in tech shares, after a hotter-than-expected October inflation reading reinforced fears that the Federal Reserve could keep interest rates higher for longer. US consumer prices increased more than expected in October, rising 0.4 percent from the previous month, pushing the U.S. 2-year yield up 21.4 basis points for its biggest one-day jump since April last year. "Markets had been pricing out some of the Fed tightening in recent weeks. Now it's probably being forced to contemplate a bit more tightening," said James McCann, senior economist at Edward Jones. Traders are pricing in an almost 99 percent chance of a hike in December, according to the CME FedWatch tool. Among rate-sensitive sectors, real estate and utilities declined over 0.5 percent each, while tech led losses with a 1.8 percent drop. Nvidia slipped 6.3 percent, down for a second straight session, as investors grow concerned over CEO Jensen Huang's future at the chip giant after it initiated an internal probe into spy claims involving Chinese businesswom

UN chief candidate stresses mediation over S. Korea's concerns over peninsula tensions
Nov 10, 2026
UN chief candidate stresses mediation over S. Korea's concerns over peninsula tensions

WASHINGTON — A candidate for the next United Nations secretary-general has emphasized the importance of mediation in addressing international conflicts while responding to South Korea's concerns over tensions on the Korean Peninsula. "Of course, mediation is the most important role of a Secretary General," Feridun Sinirlioglu, a Turkish diplomat currently serving as secretary-general of the Organization for Security and Co-operation in Europe, said during a dialogue with U.N. member states in New York on Friday. During the session, South Korea's representative asked how Sinirlioglu would keep longstanding security issues, including those involving the Korean Peninsula, on the U.N. agenda and help prevent tensions from escalating. Sinirlioglu stressed the need to bring conflicting parties together and help bridge their differences, highlighting the importance of the secretary-general's role as a mediator. He said the secretary-general should be prepared to mediate even between parties at war, acting as a trusted and impartial intermediary through quiet diplomacy to help them reach compr

After fridge hacks, home appliances could be next, warns EU cyber chief
Nov 10, 2026
After fridge hacks, home appliances could be next, warns EU cyber chief

BRUSSELS — After recent attacks on supermarket fridges, home appliances could be next, the EU's cyber chief told AFP on Tuesday, as he urged Europe to invest more to counter growing cyber threats. Supermarkets in at least 12 European countries were hit by cyberattacks in October and November, with France the worst affected. "Security should not and cannot be an afterthought," Juhan Lepassaar, executive director of the EU's cybersecurity agency ENISA, said. "Today it was fridges, tomorrow it could be routers, the day after tomorrow it could be home appliances and so forth." Lepassaar spoke to AFP in Brussels where he unveiled the Athens-based agency's latest biennial report on the state of the EU's cybersecurity. "All incidents can be avoided, but the question is, are we ready to invest to make it happen? Cybersecurity is not cheap," he said, calling on manufacturers to make products that are secure "by design." Cybersecurity is crucial, Lepassaar said, because "every single service that you are depending on as a citizen, as a human being, contains a layer whereby there is a digital eleme

Oil prices hit 2-month lows as US downplays further Iran strikes
Nov 10, 2026
Oil prices hit 2-month lows as US downplays further Iran strikes

NEW YORK — Oil prices slid about 2 percent to fresh two-month lows on Tuesday after U.S. officials downplayed the need for additional military action against Iran, easing fears of additional Middle East supply disruptions. Brent futures fell $1.93, or 2.1 percent, to $90.64 a barrel at 10:28 a.m. ET (1528 GMT), while U.S. West Texas Intermediate (WTI) crude fell $1.44, or 1.7 percent, to $85.41. That put both crude benchmarks on track for their lowest closes since August 28. On Monday, both contracts closed at their lowest since August 31. U.S. Secretary of State Marco Rubio said on Tuesday that he told Group of Seven allies that the U.S. economic sanctions and naval blockade are working so well that U.S. President Donald Trump does not need to conduct major combat operations in Iran. Rubio made the comments during a meeting in Paris of foreign ministers from the G7, which comprises Britain, Canada, France, Germany, Italy, Japan and the United States, as well as the European Union. On Monday, Trump said he plans to hold off on new military strikes against Iran for the time being after a

Rubio sees 'no need' for major combat operations against Iran
Nov 10, 2026
Rubio sees 'no need' for major combat operations against Iran

PARIS — U.S. Secretary of State Marco Rubio on Tuesday said he saw no need to resume major combat operations against Iran because economic sanctions and other restrictions were working so effectively. "The economic campaign (against Iran) is so devastating that right now there is no need for major combat operations," Rubio said after a meeting of G7 foreign ministers in Paris. "That's what I told our allies here today." President Donald Trump "has concluded that for the time being there is no need for major combat operations because we are achieving the same objective by economic means," Rubio said. But if Iran were to cross "red lines" then the "U.S. military stands ready," said Rubio, warning of a "terrible price" for Tehran. European members of the G7 had pressed Rubio at the meeting of foreign ministers of the group in Paris to avoid any new escalation against Iran. In a surprise move, Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani joined talks on the G7 sidelines with four European top diplomats and the Saudi foreign minister hours after meeting Trump to discuss en

Anthropic eyes $1.4 tril. IPO valuation in test of Wall Street's AI fervor
Nov 10, 2026
Anthropic eyes $1.4 tril. IPO valuation in test of Wall Street's AI fervor

Anthropic's blockbuster IPO is set to give the company a valuation of up to $1.4 trillion, slightly short of some investors' expectations amid cooling AI appetite, setting up a defining test of Wall Street's faith in the boom that it helped ignite. The AI lab best known for its Claude chatbot and some of its investors are aiming to raise up to $64.4 billion in the IPO by selling 825 million shares priced between $70 and $78 apiece. Anthropic will also raise $26 billion via a separate private placement deal with cornerstone investors, including Alphabet's Google, Nvidia, Advanced Micro Devices . The company is launching the roadshow for a share sale that is expected to set a benchmark for the sector. At the top of the price range, Anthropic would be valued at about $1.4 trillion on a fully diluted basis, which includes securities such as stock options and restricted stock. On a non-diluted basis, excluding those securities, Anthropic's market value would be about $1 trillion. "By seeking a valuation close to 20 percent below 'market expectations', this allows investors to 'bid up' the IPO

Nvidia heads for $400 bil. 2-day wipeout as CEO affair fallout deepens
Nov 10, 2026
Nvidia heads for $400 bil. 2-day wipeout as CEO affair fallout deepens

Nvidia shares extended losses on Tuesday, putting the chip giant on track to shed more than $470 billion in market value over two sessions as concerns mounted over the fallout from CEO Jensen Huang's affair with a Chinese businesswoman alleged to be a spy for Beijing. The CEO's relationship with Alice Huang helped facilitate shipments of at least $7.5 billion worth of Nvidia chips to Chinese firms, The Information reported on Tuesday, citing two people who know her. Alice Huang and Jensen Huang are not related. The allegations have intensified scrutiny of Nvidia's governance, export-control compliance and reliance on Huang's leadership, adding to investor unease over whether massive spending on artificial intelligence infrastructure will deliver adequate returns. Nvidia's shares fell more than 6 percent following a 4.3 percent drop on Monday, allowing Microsoft to overtake the AI bellwether as the world's second-most valuable company for the first time since June 2025. "The investment debate is whether this remains company-specific or triggers restrictions and disruption across AI infras

US inflation runs hotter than expected as higher prices extend beyond gas station
Nov 10, 2026
US inflation runs hotter than expected as higher prices extend beyond gas station

WASHINGTON — U.S. inflation was higher than expected last month as the rising prices that powered sweeping Democratic victories in last week’s midterm elections appear likely to pose ongoing challenges for the White House and the Federal Reserve. The consumer price index rose 0.4 percent from September to October, the Labor Department said Tuesday, down from 0.6 percent the previous month. The government did not report a yearly inflation rate because last year's government shutdown meant no data was released for October 2025. But excluding the volatile food and energy categories, core prices rose 0.3 percent, the same as the preceding month. Both figures were a tenth of a point higher than forecast, and at an annual rate would be well above the Fed's 2 percent target. The new inflation data heightened concerns that strong consumer and business spending, combined with higher gas prices and supply disruptions stemming from tariffs and global turmoil, are creating increasingly stubborn inflation that could extend beyond temporary spikes in prices at the gas pump. The economy expanded a

What are the impeachment articles facing Pete Hegseth?
Nov 10, 2026
What are the impeachment articles facing Pete Hegseth?

WASHINGTON — Republican U.S. Representative Thomas Massie introduced eight articles of impeachment against Defense Secretary Pete Hegseth, related to the war in Iran, President Donald Trump's actions in Venezuela and even some administration actions in Washington. Hegseth has denied wrongdoing, and Trump has criticized Massie and pledged to stand by his secretary of defense. Here are the eight "high crimes and misdemeanors" in the unusual Republican-led impeachment effort against a Republican official. Iran Three of the charges are related to the conflict in Iran. Hegseth is accused of directing, authorizing and sustaining military actions against Iran beyond a 60-day limit without a formal declaration of war or authorization for the use of military force (AUMF) by Congress. A fourth Iran-related charge accuses Hegseth of ignoring laws requiring that U.S. forces minimize civilian casualties, related to a strike on a girls school in Minab on February 28, the first day of the conflict, that killed scores of children. Venezuela Two charges are related to Venezuela, whose president, Nicolas M

Hegseth slams impeachment push as 'political spectacle' undermining US troops
Nov 10, 2026
Hegseth slams impeachment push as 'political spectacle' undermining US troops

WASHINGTON — Defense Secretary Pete Hegseth dug in for a fight Tuesday against his potential impeachment in Congress , contending that a rogue lawmaker is undermining American troops in war zones by targeting him over mere “policy disagreements” and not the high crimes required in the Constitution for his possible removal. The embattled Pentagon chief has launched a counteroffensive against outgoing Republican Rep. Thomas Massie’s effort to force him from office over his handling of the unpopular Iran war and other actions. A House vote on whether to move forward with the impeachment is expected later Tuesday. Hegseth gave a defiant and politicized defense of his stewardship of the U.S. military in his first news conference at the Pentagon in six months. He chose to hit back at the rising bipartisan anger over battlefield strategy while offering few details about intermittent operations against Iran or fatal strikes on alleged drug-smuggling boats in Latin America. President Donald Trump praised Hegseth’s performance at the briefing in a social media post, while Vice President

From cutting steak to showing affection: Japanese-born professor on charms of Korean men
Nov 10, 2026
From cutting steak to showing affection: Japanese-born professor on charms of Korean men

Hosaka Yuji, a Japanese-born naturalized Korean and special professor at Korea University's Graduate School of Public Administration, has identified what Japanese women find attractive about Korean men. The growing number of marriages between Korean men and Japanese women, he said, reflects the popularity of Korean men's affectionate expressions and thoughtfulness among Japanese women. He also suggested that images of Korean men shaped by Korean dramas have played a role. “Matchmaking agencies specializing in Korea-Japan marriages have opened in Tokyo,” he noted. Hosaka made the remarks during an appearance on the YouTube channel Woongdal Bookstore on Sunday. He described this as a clear indication that Japanese women have developed a strong preference for Korean men. Hosaka cited two main reasons Korean men are increasingly sought after as marriage partners by Japanese women: their direct expressions of affection and their attentiveness. While Japanese men rarely say “I love you” in everyday life, Korean men tend to express their feelings more openly, he said. “Japanese women a

New Covid Variant PJ.2.1 Spreads Across 8 Countries: Symptoms, Mutation Risks And What We Know
Nov 10, 2026
New Covid Variant PJ.2.1 Spreads Across 8 Countries: Symptoms, Mutation Risks And What We Know

The World Health Organization (WHO) and international surveillance bodies are closely monitoring its growth advantage over other circulating Covid strains

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