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EU unveils new steel import quotas to protect its industry from overcapacity

The European Commission unveiled quotas under the new system to limit duty-free steel imports into the EU, in a move designed ‌to protect the bloc's steel sector and increase its capacity utilisation.Under the new rules, the European Union's annual tariff-free import quotas are slashed by 47% to 18…

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Economy
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Canada's GDP rebounds in April, posts 0.5% growth on monthly basis

By Promit MukherjeeCanada's economy rebounded more than expected in April, data showed on Tuesday, following a slight contraction in the previous month, allaying concerns that a tariff-led slowdown was getting more entrenched.The Gross Domestic Product in April grew by 0.5% on a month on month basi…

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Economy
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Canada's economy up 0.5% in April, most likely up 0.1% in May

OTTAWA, June 30 (Reuters) - The Canadian economy grew by 0.5% in April, on a rebound in the mining, quarrying, and oil and gas extraction sector, Statistics Canada said on Tuesday. May GDP was most likely up 0.1%, the agency said in a flash estimate. The goods-producing sector was up by 1.2…

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Economy
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Scorching heat forecast threatens demand records on US electric grid

By Tim McLaughlinU.S. power grids this week face a blistering heat wave across the East Coast and Midwest that is expected to break summer demand records, straining systems already pushed to the brink by surging energy consumption by data centers and electric vehicles.PJM Interconnection, the large…

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Economy