financetom
Business
financetom
/
Business
/
Canada announces C$400 million financial aid for Algoma Steel as tariffs hit
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Canada announces C$400 million financial aid for Algoma Steel as tariffs hit
Sep 29, 2025 6:08 AM

OTTAWA, Sept 26 (Reuters) - Canada's government announced a C$400 million ($287.13 million) financial support for Algoma Steel ( ASTL ) under its large enterprise tariff relief scheme, Jobs Minister Patty Hajdu said on Monday.

The loan will "help Algoma Steel Inc. continue operations, transition to a business model less reliant on the United States, and limit disruption to its workforce," the government said in a statement.

The government of the province of Ontario will also provide a support of C$100 million, it said.

($1 = 1.3931 Canadian dollars)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google defeats Rumble's antitrust lawsuit over video sharing market
Google defeats Rumble's antitrust lawsuit over video sharing market
May 26, 2025
May 21 (Reuters) - Alphabet's Google has persuaded a federal judge in California to reject a lawsuit from video platform Rumble accusing the technology giant of illegally monopolizing the online video-sharing market. In a ruling on Wednesday, U.S. District Judge Haywood Gilliam Jr said Rumble's 2021 lawsuit seeking more than $2 billion in damages was untimely filed outside the four-year...
MercadoLibre taps Ariel Szarfsztejn as new CEO as of 2026
MercadoLibre taps Ariel Szarfsztejn as new CEO as of 2026
May 26, 2025
SAO PAULO, May 21 (Reuters) - Latin American e-commerce giant MercadoLibre ( MELI ) said on Wednesday its board approved a leadership transition, with Chief Executive Marcos Galperin being replaced by current commerce head Ariel Szarfsztejn as of 2026. Galperin will move to a more strategic role within the company as chairman of the board, MercadoLibre ( MELI ) said...
AT&T agrees to buy Lumen's consumer fiber business for $5.75 billion in cash
AT&T agrees to buy Lumen's consumer fiber business for $5.75 billion in cash
May 26, 2025
(Reuters) -AT&T ( T ) has clinched a deal to acquire Lumen Technologies' ( LUMN ) consumer fiber operations for $5.75 billion in cash, the companies said on Wednesday, as the wireless provider adds further scale to its national fiber footprint. Buying the unit will gain AT&T ( T ) 1 million fiber customers, as well as significantly expand its...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved