Prime Minister Mark Carney’s Liberal Party narrowly missed a majority in Canada’s Parliament, securing 169 of 343 seats amidst challenges from the Conservative Party, which won 143. The election was heavily influenced by President Trump’s tariffs on Canadian goods, shifting public sentiment and leading to Carney’s success despite being a first-time candidate. Moving forward, Carney must navigate a challenging agenda while defending Canada against potential economic repercussions from U.S. policies, emphasizing the need for cooperation as independent nations.
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US semiconductor maker Wolfspeed to file for bankruptcy
Wolfspeed, a North Carolina semiconductor manufacturer for electric vehicles, has reached a bankruptcy agreement to reduce its $6.5 billion debt by over two-thirds, effectively wiping out existing shareholders. The company plans to formally file for bankruptcy soon and aims to emerge by the end of 2025, while navigating challenges from rising interest rates and changing government policies. Need More Context? 🔎
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