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TSX:ALS 1 December 2025

Algoma Steel Layoffs 2025: 1,000 Workers Hit as U.S.–Canada Trade War and Green Steel Transition Collide

Algoma Steel Layoffs 2025: 1,000 Workers Hit as U.S.–Canada Trade War and Green Steel Transition Collide

Algoma Steel has issued layoff notices to over 1,000 workers at its Sault Ste. Marie, Ontario mill, citing U.S. steel tariffs and a shift to electric arc furnace technology. The cuts, affecting both salaried and hourly staff, will roll out over several months. Algoma reported a $485.1 million net loss in Q3 2025, with $89.7 million paid in direct tariffs that quarter.
1 December 2025

Stock Market Today

  • Hydrix Shares Drop 21% Despite New Defence Subsidiary and $1.2M Contract
    May 24, 2026, 11:57 PM EDT. Hydrix Limited (ASX:HYD) shares plunged 21.43% to $0.011 on May 25, 2026, despite launching Hydrix Defence, a subsidiary targeting Australia's expanding multi-billion-dollar counter-drone and autonomy market. The firm secured a $1.2 million contract with NIOA Group for counter-unmanned aerial systems (counter-UAS) technology support. Hydrix aims to shift from project-based consulting to intellectual property-driven defence technology development, focusing on electronic warfare and autonomy platforms. Investor concerns over execution risk, funding, and short-term earnings visibility weighed on the stock, highlighting market caution toward micro-cap tech firms undergoing structural changes and recapitalisation.

Latest articles

Netflix Stock Is Paused for Memorial Day. Wall Street Is Watching Its $3 Billion Ad Bet

Netflix Stock Is Paused for Memorial Day. Wall Street Is Watching Its $3 Billion Ad Bet

25 May 2026
Netflix shares closed at $88.60 Friday, down 0.8% for the day but up 1.8% for the week, outperforming the Nasdaq Composite. The company told advertisers its ad-supported plan now reaches over 250 million monthly viewers and will expand to 15 more countries in 2027. First-quarter revenue rose 16% to $12.25 billion. The board approved an additional $25 billion in share buybacks.
ServiceNow Bounces; Investors Look to Post-Holiday Moves

ServiceNow Bounces; Investors Look to Post-Holiday Moves

25 May 2026
ServiceNow shares closed at $102.13 Friday, up 2.45% on the day and 7.4% for the week after a sharp Monday rally. Shareholders approved a 38 million-share increase to its equity incentive plan. BofA reinstated coverage with a Buy rating and a $130 price target. U.S. markets are closed Monday for Memorial Day.
Stellantis Stock in Focus After $70 Billion Move Going Into Holiday Week

Stellantis Stock in Focus After $70 Billion Move Going Into Holiday Week

25 May 2026
Stellantis shares closed at $7.61 in New York Friday, up 0.66%, after CEO Antonio Filosa’s first strategy pitch and a volatile week. The company unveiled a five-year plan targeting 190 billion euros in revenue by 2030 and 6 billion euros in annual free cash flow. Milan shares rose 3.19% but remain down nearly 12% for the month. U.S. trading pauses for Memorial Day, with European markets open Monday.
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