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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

  • Meta Shares Rise Amid Investor Focus on CEO Zuckerberg's AI Spending Plan
    June 15, 2026, 12:16 PM EDT. Meta Platforms shares climbed to $594.06, up $27.08, following CEO Mark Zuckerberg's announcement of an increased 2026 capital expenditure (capex) range of $125-$145 billion, reflecting heavy investment in artificial intelligence (AI) and infrastructure. The company reported a strong Q1 revenue jump of 33% to $56.31 billion and a diluted EPS of $10.44. Advertising impressions and prices rose by 19% and 12%, respectively, boosting the Family of Apps profitability. However, Meta's increased AI spending, along with a $4.03 billion loss in its Reality Labs division and ongoing U.S. and European legal risks, has divided Wall Street sentiment, with some investors cautious about the impact on future returns despite attractive forward earnings multiples around 17 times.

Latest articles

Apple Faces Key AI Event, Wall Street Focuses on Siri

Apple Shares Get Lift After Goldman Pushes Siri AI Post-WWDC

15 June 2026
Apple shares jumped 2.1% to $297.31 after Goldman Sachs reiterated a Buy rating and $340 price target, citing WWDC 2026 announcements that clarified the path for Siri AI and Apple Intelligence monetization, while warning that rollout limits in the EU, China, and on older devices remain key risks for future upgrades and services revenue.
Exxon Mobil Drops With Oil After U.S.-Iran Deal

Exxon Mobil Drops With Oil After U.S.-Iran Deal

15 June 2026
Exxon Mobil shares tumbled 4% to $141.10 as crude prices plunged after a U.S.-Iran framework deal raised hopes for reopening the Strait of Hormuz, intensifying pressure on a stock already under scrutiny for weaker Q1 earnings and margin compression, with Brent and WTI hitting multi-month lows and energy stocks broadly declining.
Meta Shares Up as Wall Street Reacts to Zuckerberg’s AI Budget

Meta Shares Up as Wall Street Reacts to Zuckerberg’s AI Budget

15 June 2026
Meta stock jumped $27.08 to $594.06 after Q1 revenue soared 33% to $56.31 billion, but investor focus shifted to the company’s sharply higher 2026 capital spending forecast of $125–$145 billion, as Wall Street weighs whether Meta’s massive AI investments will boost long-term returns or drag on future profits.
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