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Chinese EVs are coming to Canada, and dealers are eager to sell them

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Chinese EVs are coming to Canada, and dealers are eager to sell them
Canada's pursuit of Chinese EVs: Here's what to know

HALIFAX, NOVA SCOTIA — Michael MacGillivray sees the arrival of Chinese electric vehicles in Canada as a potential game changer.

“I think it is going to a be a huge eye opener,” said MacGillivray, who oversees 10 dealerships in Nova Scotia and New Brunswick, Canada. 

As the CEO of Century Auto Group and SIGMA Auto Group, MacGillivray is working to become one of the dealers in the country who will sell imported Chinese EVs. In April, he went to the Beijing Auto Show with other dealers from Canada to establish relationships with Chinese automakers and get a feel for the cars and SUVs they could eventually export to his country.

“When I was in China, I was very impressed by the Chinese vehicles,” he said. “They have materials that are second to none. Their styling is impressive. The ride is very impressive.”

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Not everyone likes the idea of Canada allowing the sale of EVs imported from China.

The Canadian Vehicle Manufacturers’ Association said the decision to allow the sale of Chinese-made EVs was deeply concerning.

President Donald Trump is even more harsh, calling the move “a disaster.” U.S. Transportation Secretary Sean Duffy posted on X, “Canada will live to regret the day they let the Chinese Communist Party flood North America with their EVs.”

Officially, Canada is allowing just 49,000 Chinese-made EVs to be imported for retail sales annually at a tariff rate of 6.1%, a fraction of the 100% tariff that is in place for all other vehicles China would export to Canada. 

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That lower tariff for EVs has convinced Chinese automakers it’s time to set up dealerships.

“We received nearly 400 inquiries from different dealers across Canada who are very interested and excited to represent any of these Chinese brands,” said Farid Ahmad, CEO of DSMA, an auto dealership broker in suburban Toronto. 

Ahmad is connecting dealers with Chinese automakers like BYD, Geely and Chery.

“I think from their perspective it gives them a foothold in the North American market,” he said.

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General Motors, Ford, Toyota and Hyundai sell the most vehicles in Canada, according to S&P Global. Last year, industry sales topped 1.9 million vehicles, slightly more than all of the vehicles sold in California in 2025.

Limiting the number of China EV sales with a low tariff to just 49,000 vehicles is one way for Canadian leaders to put guardrails on allowing the Chinese to enter Canada’s auto market. 

“They’re being careful in terms of how much volume is being allowed in,” said Michael Robinet, vice president of forecast strategy for S&P Global Mobility, an automotive industry consulting firm. “Anywhere between 3% to 5% of the market is sizable but, nonetheless, not something that will change the competitive dynamic significantly.”

On the streets of Nova Scotia, Canadians told CNBC they are curious and eager to have the chance to buy electric models from China.

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“I think they will destroy the market in a good way,” said Canadian Patrick Hunt.

“So, definitely more chances, more options for people to choose different vehicles,” Canadian Daniel Haim said, “With what’s going on with gas prices, I think that it’s going to work out well for any Chinese manufacturer coming here, especially with electric vehicles.”

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(VIDEO) Charles Barkley Rips Spurs for Blowing 29-Point Lead in Game 4 NBA Finals Loss

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Lebron James Post Game Interview: LeBron James Leads Lakers

NEW YORK — Charles Barkley unleashed sharp criticism of the San Antonio Spurs after they squandered a 29-point lead in Game 4 of the 2026 NBA Finals, calling their second-half collapse some of the “dumbest basketball” he had ever seen as the New York Knicks completed a historic comeback victory.

The Knicks erased the massive deficit to win 107-106 on OG Anunoby’s tip-in with 1.2 seconds left, taking a 3-1 series lead. On “Inside the NBA,” Barkley did not hold back in his assessment of San Antonio’s late-game execution.

“We saw the dumbest basketball team in the history of civilization,” Barkley said. “They had a 25-point lead, took eight straight threes. Like they thought that was some of the most mismanaged stupid basketball.”

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The Spurs built a commanding 81-52 lead in the third quarter but went cold, shooting just 3 for 17 from three-point range in the second half. Barkley highlighted the lack of clock management and poor shot selection as the Spurs failed to protect their advantage.

Historic Comeback Caps Dramatic Night

The Knicks’ rally is the largest comeback in NBA Finals history, surpassing the previous mark of 24 points. It was the second-largest playoff comeback ever, behind only the LA Clippers’ 31-point rally in 2019.

Jalen Brunson led New York with 36 points, while Anunoby finished with 33 and delivered the game-winner. Victor Wembanyama had 24 points and 13 rebounds for the Spurs but shot 9-for-25 from the field. De’Aaron Fox, Dylan Harper and Devin Vassell also scored in double figures, but the team’s second-half collapse proved costly.

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Spurs coach Mitch Johnson expressed disappointment. “We got on our heels — we missed some shots. It’s disappointing, to say the least.”

Wembanyama acknowledged the team’s lack of hunger in the second half. “I can’t really explain it right now. We clearly weren’t the most hungry in the second half.”

Inside the NBA Reaction

Barkley’s blunt critique resonated with viewers, with many agreeing the Spurs’ decision-making in the third quarter was puzzling. The Hall of Famer noted the Spurs’ repeated three-point attempts without regard for the clock, even while holding a large lead.

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Ernie Johnson, Kenny Smith and the rest of the panel joined in the discussion, with the broadcast capturing the shock of fans and analysts alike at Madison Square Garden. The Knicks’ resilience turned a potential blowout into one of the most memorable games in Finals history.

Series Outlook Shifts Dramatically

The Knicks now hold a 3-1 lead and can clinch the championship in Game 5 on Saturday in San Antonio. A victory there would end New York’s title drought since 1973. The Spurs must win the next three games to claim the title, a daunting task against a motivated Knicks squad playing with home-court momentum in the series.

The physical nature of the series continued, with several flagrant fouls called on both sides. Wembanyama faced heightened defensive attention, while Brunson’s leadership and clutch play proved decisive once again.

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Fan and Cultural Reaction

Madison Square Garden erupted as the final seconds ticked away, with fans singing “Don’t Stop Believin’” long after the game ended. Celebrities including Taylor Swift were in attendance, adding to the electric atmosphere of a night that will be remembered for years.

Social media exploded with reactions to both the comeback and Barkley’s fiery commentary. The moment has already become one of the most discussed in recent NBA history, highlighting the drama and unpredictability of playoff basketball.

Broader Context of the Finals

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The 2026 NBA Finals have delivered compelling storylines, pitting the resilient Knicks against a young, talented Spurs team led by the generational talent Wembanyama. The series has featured strong individual performances and tactical battles, with Game 4 standing out as one of the most memorable.

For the Knicks, the comeback reinforces their identity as a never-quit group that has overcome significant obstacles throughout the postseason. For the Spurs, the loss represents a painful learning experience in their first Finals appearance in years.

As the series shifts back to San Antonio, the Spurs will look to regroup and extend the series, while the Knicks aim to close it out on the road. Game 5 promises another intense chapter in what has become a hard-fought and entertaining NBA Finals.

Charles Barkley’s passionate breakdown captured the frustration many felt watching the Spurs’ collapse. His comments, while blunt, reflect the high standards expected at this level of competition. The NBA world will be watching to see how both teams respond as the championship race reaches its critical stage.

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The Knicks’ historic Game 4 victory has shifted momentum dramatically. With a 3-1 lead, New York is one win away from ending a long championship drought, while San Antonio faces an uphill battle to keep their title hopes alive. The coming games will test the resilience and character of both franchises in what has already become a memorable Finals series.

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Korea fines e-commerce giant $400m over data breach affecting millions

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Korea fines e-commerce giant $400m over data breach affecting millions

The record fine comes after around 37.5 million users had their private data exposed.

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Ryanair investigated over charging parents to sit with children

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Ryanair investigated over charging parents to sit with children

The UK’s competition regulator is investigating the airline over charges it imposes on parents to sit next to their child.

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Dividend rush! Buy these 5 Adani stocks, 4 Tata Group stocks today to lap up payout rewards

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Dividend rush! Buy these 5 Adani stocks, 4 Tata Group stocks today to lap up payout rewards
More than 30 companies have set June 12 as the record date for their respective dividends cumulatively worth nearly Rs 300 per share. As many as five Adani Group companies and four Tata Group companies are part of the long list.

Only those shareholders who own the shares of the companies in their demat accounts as of Friday will be eligible to receive the bonus shares. Due to SEBI’s T+1 settlement norm, investors must buy a company’s shares at least one trading day before the record date to ensure they are credited to their demat accounts by that date and thus be eligible for the corporate action. This effectively makes today the last date for investors to buy the shares to be eligible for the dividends.

Adani Group stocks turning ex-record date for dividends tomorrow

ACC, Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), Adani Total Gas, and Ambuja Cements are the five Adani Group companies that have fixed June 12 as the record date for their respective dividends.

ACC late in April had announced a dividend of Rs 7.5 per share with a face value of Rs 10 each for the financial year 2026. APSEZ will also pay a dividend of Rs 7.5 per share. Shares of Adani Group’s flagship company, Adani Enterprises, meanwhile, are set to turn ex-record date to a dividend of Rs 1.3 per share tomorrow.

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Ambuja Cements and Adani Total Gas will pay dividends of Rs 2 per share and Rs 0.25 per share, respectively.

Tata Group stocks turning ex-record date for dividends tomorrow

Tata Motors, Tata Steel, Trent, and Voltas from the Tata Group also have fixed June 12 as the record date for their respective dividends, making today effectively the last day for investors to buy the stocks to be eligible for the payment.
Tata Motors, Tata Steel, and Voltas will each pay dividends worth Rs 4 per share, while Zudio and Westside-parent Trent will pay a dividend of Rs 6 per share. This comes after Trent shares turned ex-record date last week for its first-ever 1:2 bonus issue, causing the stock price to appear nearly 34% lower due to the adjustment.


Also read: Here’s how Trent’s bonus math works
Apart from the companies part of the two conglomerates, several other firms also have fixed June 12 as the record date for their dividends. Some of the notable names among them include Canara Bank (Rs 4.2 per share), ICICI Prudential Asset Management Company (Rs 12.4 per share), JM Financial (Rs 1.75 per share), Piramal Finance (Rs 11 per share), and Punjab National Bank (Rs 3 per share).Also read: Infosys, Adani Enterprises, Trent among 44 stocks going ex-date this week. Do you own any?

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Nuveen Churchill Direct Lending: Steady Outperformance Continues In Q1

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BDC Weekly Review: Earnings Are Fine

Nuveen Churchill Direct Lending: Steady Outperformance Continues In Q1

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Warner Bros Stock Hits 3-Month Low. The Paramount Merger Spread Is Too Good to Pass Up.

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Warner Bros Stock Hits  3-Month Low. The Paramount Merger Spread Is Too Good to Pass Up.

Warner Bros Stock Hits 3-Month Low. The Paramount Merger Spread Is Too Good to Pass Up.

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Bonus bonanza! Last date to buy City Union Bank shares for 1:3 reward

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Bonus bonanza! Last date to buy City Union Bank shares for 1:3 reward
City Union Bank has set June 12 as the record date for its bonus issue in the ratio of 1:3, making today, June 11, the last day for interested investors to buy the bank’s shares to qualify for the bonus shares.

Only shareholders who hold City Union Bank shares in their demat accounts as of Friday will be eligible to receive the bonus shares. Due to SEBI’s T+1 settlement norm, investors must purchase the company’s shares at least one trading day before the record date so they are credited to their demat accounts by that date and qualify for the corporate action. This effectively makes today the final day for investors to buy the shares to be eligible for the bonus issue.

All about City Union Bank’s bonus issue

City Union Bank announced a 1:3 bonus issue in April, meaning eligible shareholders will receive one equity share for every three fully paid-up equity shares held in their demat accounts as on the record date.

The bonus shares will be issued using nearly Rs 25 crore from the lender’s securities premium account, whose balance stood at more than Rs 940 crore on March 31, 2026. Later in May, City Union Bank fixed June 12 as the record date to determine the eligibility of shareholders for the bonus shares.

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Notably, this marks the first bonus issue announced by the lender in eight years, since a 1:10 bonus issue in 2018. A bonus issue consists of free shares distributed by a company from its reserves and is often seen as a sign of strong financial health and growth prospects. While the issue of bonus shares increases the total number of outstanding shares, it does not change the company’s market capitalisation. However, it can improve liquidity and affordability, allowing more investors to add shares of the company to their portfolio.


Also read:
How Sensex, Nifty rallied 200% under PM Modi’s record-breaking tenure

City Union Bank share price

City Union Bank shares have gained 2% in one week, but declined 3% in one month. Shares of the company have fallen over 12% in 2026 so far. In the longer term, they’ve gained 23% in one year, 104% in three years, and 52% in five years.

The bank reported a 25% year-on-year rise in net profit to Rs 359.56 crore for the fourth quarter of FY26, up from Rs 287.96 crore reported in the corresponding quarter of the previous financial year. Its net interest income (NII), meanwhile, increased around 31% YoY to Rs 785.83 crore during the quarter under review.
Also read: Wipro’s Rs 15,000 crore buyback opens; 10 key things to know before tendering shares
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Review: McDougall has a story to tell

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Review: McDougall has a story to tell

REVIEW: Renowned winemaker says the path forward lies in clarity and confidence, anchored in regionality and classic varieties.

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Ex-US Consul General Siriana Nair joins Murdoch University

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Ex-US Consul General Siriana Nair joins Murdoch University

A former United States envoy to Western Australia has joined Murdoch University in a senior global engagement role.

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Betterment Ramps Up Portfolio Offerings for Advisors

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Betterment Ramps Up Portfolio Offerings for Advisors

Betterment Ramps Up Portfolio Offerings for Advisors

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