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Goodyear Canada Inc. investing more than $575 million to expand Ontario plant, creating and securing more than 1,000 jobs

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NAPANEE, ON, Aug. 12, 2024 /CNW/ – From mining critical minerals to building cars and batteries, Canada is attracting historic investments to help secure and create jobs, grow our economy, and keep our air clean. In the last four years, we’ve seen companies announce more than $46 billion in electric vehicle (EV) manufacturing investments across Canada. They want a reliable partner with world-class talent, and this is exactly what we have to offer.

Today, the Prime Minister, Justin Trudeau, and the Premier of Ontario, Doug Ford, joined representatives from the Goodyear Tire and Rubber Company to announce the company’s more than $575 million project to modernize and expand its plant in Napanee, Ontario. This investment will help Goodyear create an energy-efficient, end-to-end manufacturing process and increase its production capacity, including of EV and all-terrain tires.

The project will create 200 new, highly skilled manufacturing jobs by 2027 and secure more than 1,000 jobs in Napanee. This project will get Goodyear’s Napanee plant to net-zero emissions by 2040, helping achieve Canada’s goal of a net-zero economy by 2050.

Goodyear Canada will receive federal funding of up to $44.3 million from the Strategic Innovation Fund for this expansion project.

The Government of Ontario, through Invest Ontario, will contribute $20 million to support key components of the project, including the implementation of innovative technologies and skills training programs.

The company will leverage existing collaborative programs to help ensure Canada remains a world leader in the EV sector.

Goodyear’s modernization project is another vote of confidence in Canada, and today’s announcement highlights Canada’s growing and dynamic EV sector. This investment will generate high-quality jobs, boost our economy, and continue to place the climate at the forefront of our economy. It is these investments in growth sectors that make Canada a trusted partner for international companies and allow us to remain a top destination for global investments.

Quotes

“Companies from across the world are choosing Canada. Today’s announcement that Goodyear is modernizing its Napanee plant will create manufacturing jobs, grow our EV industry, and use modern technology to keep our air clean. It’s another vote of confidence in Canada’s auto sector workers.”
— The Rt. Hon. Justin Trudeau, Prime Minister of Canada

“Goodyear Canada’s investment is another significant boost to Ontario’s growing electric vehicle sector, building on the billions of dollars that have been invested in the sector over the past four years. Across Ontario, we’re seeing major investments and new jobs created as we build out our end-to-end EV supply chain, connecting critical minerals in Northern Ontario to world-class manufacturing across the province. Companies are choosing Ontario because of our transportation infrastructure, our competitive business environment, and our skilled workforce.”
— The Hon. Doug Ford, Premier of Ontario

“Today’s announcement is another great step toward the modernization of Canada’s automotive sector. By partnering with Goodyear Canada, we’re driving Canada to the forefront of the clean economy. This investment represents a significant advancement toward innovation in tire technology, helping to modernize the industry. It will not only create high-quality jobs, but also generate substantial economic benefits for Ontarians, reinforcing our commitment to a strong and sustainable automotive sector.”
— The Hon. François-Philippe Champagne, Minister of Innovation, Science and Industry

“Today’s announcement highlights Canada’s growing and dynamic EV sector. This investment will generate high-quality jobs, boost our economy, and continue to place the climate at the forefront of our economy. It is these investments in growth sectors that keep Canada as a trusted partner to international companies and allow us to remain a top destination for global investments.”
— The Hon. Mary Ng, Minister of Export Promotion, International Trade and Economic Development

“Boasting a wealth of critical minerals, a highly skilled workforce, and a thriving advanced manufacturing sector, Ontario has emerged as a North American leader in the production of electric vehicles, with over $43 billion in new auto investments over the past four years. Goodyear’s investment in their Napanee production facility represents another essential link in our province’s growing and dynamic end-to-end EV supply chain. Thank you, Goodyear, for your continued commitment to Ontario’s talented auto sector workers.”
— The Hon. Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade

“I am excited to see this announcement of a substantial investment in Goodyear Napanee. Goodyear Canada is Greater Napanee’s largest employer and has been an exemplary corporate partner in our region for over 35 years. They are an integral part of the growth and success of our community. This investment will ensure further growth for our region well into the future. On behalf of the Town of Greater Napanee, I would like to thank our federal and provincial partners for this investment in Goodyear Napanee and our community.”
— His Worship Terry Richardson, Mayor of Greater Napanee

“Today’s announcement reinforces our long-term commitment to Canada and enhances our agility and flexibility, positioning Goodyear to meet the evolving needs of our customers now and in the future. We are appreciative to the federal, provincial, and local governments for their support and to our Napanee associates for their dedication to building the next generation of tires.”
Mark Stewart, Chief Executive Officer and President, Goodyear

Quick Facts

Goodyear Canada’s modernized facility in Napanee, Ontario, is also supported by incentives from the Town of Greater Napanee, the Township of Stone Mills, and the County of Lennox and Addington, as a result of a newly launched Community Improvement Plan.This project will take place on the same land as Goodyear Canada’s existing Napanee facility.The modernized facility will reduce greenhouse gas emissions at Goodyear Canada’s Napanee facility by 10 per cent by 2030, and by 100 per cent by 2040.In addition to creating and maintaining jobs, this project will continue to support new co-op opportunities for students every year.Founded in 1898, Goodyear is one of the world’s largest tire companies. It employs about 71,000 people and manufactures its products in 54 facilities across 21 countries around the world.Canada’s automotive sector builds more than 1.5 million vehicles each year – one every 21 seconds. It supports nearly 550,000 direct and indirect jobs, contributed $18 billion to Canada’s gross domestic product in 2023, and is one of the country’s largest export industries.Investing in cleaner transportation is key to achieving our economic and environmental goals and delivering on Canada’s 2030 Emissions Reduction Plan: Clean Air, Strong Economy.The Strategic Innovation Fund provides major investments in innovative projects that help grow Canada’s economy for the well-being of all Canadians.

Associated Links

Strategic Innovation Fund Goodyear Canada

This document is also available at https://pm.gc.ca

SOURCE Prime Minister’s Office

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Galaxy Digital Inc. Announces Pricing of $3.507 Billion of Senior Secured Notes

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NEW YORK, July 23, 2026 /PRNewswire/ — Galaxy Digital Inc. (NASDAQ: GLXY) (“Galaxy” or the “Company”), a global leader in digital assets and data center infrastructure, today announced that its indirect wholly owned subsidiary, Galaxy Helios Data Centers II LLC (the “Issuer”), has priced a $3.507 billion private offering (the “Offering”) of 9.875% senior secured notes due 2031 (the “Notes”). The Offering is expected to close on July 28, 2026, subject to market and other conditions.

The Issuer intends to use the net proceeds from the Offering to finance a portion of the development and construction of two buildings containing eight data halls with a combined total of 400 megawatts (“MW”) of utility capacity and 260 MW of critical IT capacity (the “Project”) to be built on an approximately 260-acre property in Dickens County, Texas and to fund debt service reserves.

The Notes will bear interest at a rate of 9.875% per annum payable semi-annually in cash in arrears on February 1 and August 1 of each year, beginning on February 1, 2027 and will mature on August 1, 2031. The Notes will amortize at a rate of 4.00% per annum of the original principal amount subject to adjustment, with amortization payments payable semi-annually with the first payment date to occur at least ten months after the completion of the Project.

The Notes will be fully and unconditionally guaranteed by Galaxy Helios II LLC, a wholly owned direct subsidiary of the Issuer (the “Guarantor”), and will constitute the senior secured obligations of the Issuer and the Guarantor. The Notes and related note guarantee will be secured by first-priority liens on (i) substantially all assets of the Issuer and the Guarantor, other than certain excluded property and (ii) all equity interests of the Issuer held by the direct parent company of the Issuer.

The Offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the Offering may be completed.

The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Galaxy

Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.63 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia.

Forward Looking Statements

This press release includes forward-looking statements, including statements relating to the completion, size and timing of the Offering, the terms of the Notes and the intended use of proceeds. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements represent the Company’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the satisfaction of the closing conditions related to the Offering and risks relating to the Company’s business, including those described in periodic reports that the Company files from time to time with the SEC. The Issuer may not consummate the proposed Offering described in this press release and, if the proposed Offering is consummated, cannot provide any assurances regarding the final terms of the Offering or the Notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and the Company does not undertake to update the statements included in this press release for subsequent developments, whether as a result of new information, future events, or otherwise, except as may be required by law.

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SOURCE Galaxy Digital Inc.

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The Finish Line that Changed China: Retracing the Long March to Yan’an

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BEIJING, July 23, 2026 /PRNewswire/ — A news report from China.org.cn on the Long March, and what it means for China today:

 

Every journey has a destination.

But some destinations become the beginning of something even greater.

This is Yan’an.

Over 90 years ago, an army of soldiers embarked from Yudu, Jiangxi Province, on a journey that would go down in history.

They crossed snow-capped mountains, vast grasslands and raging rivers, eventually arriving in northern Shaanxi.

Across this grueling 12,500-kilometer journey, they wrote a magnificent epic in human history with willpower and courage.

Here, their Long March came to a victorious end. But a new chapter of history was only beginning.

In Yan’an, the Red Army found time to recover and rebuild, and the Central Committee of the Communist Party of China regrouped, gathering strength for the next chapter.

Here, new ideas were debated, new strategies were shaped, and a vision for China’s future gradually took form.

Today, while preserving its revolutionary legacy, Yan’an has grown into a vibrant, modern city — with a greener environment, thriving industries and happier lives for its people.

Nearly 90 years ago, American journalist Edgar Snow came to northern Shaanxi, seeking to uncover a story that few outside China knew. He later chronicled it in his book “Red Star Over China,” which carried the story of the Long March to the world.

Today, people from around the world are once again retracing those steps.

As part of China International Communications Group (CICG)’s “Together on the Long March” international communication project, participants have spent more than a month retracing the route across six key regions.

From Jiangxi to Shaanxi, they followed the Red Army’s journey and witnessed the remarkable changes that have taken place along the way.

I asked them one simple question: What does this journey mean to you?

Zhavier Harris, marketing and communications manager at the Springfield Urban League, said conversations with local residents and descendants of the Red Army made history feel far more immediate than he had expected.

He said history isn’t as distant as we often think. “We’re only one or two generations from these great sacrifices that led to the development and the greatness that we see from the Communist Party of China and China as a whole.”

David Ferguson, honorary chief English editor at Foreign Languages Press under CICG and a recipient of the 2021 Chinese Government Friendship Award, said the journey deepened his understanding of the Long March.

He said the journey helped him understand not only the historical facts, but also what the Red Army endured. “If you see the Long March merely as a military campaign, it ended in Yan’an. But as a spirit, it has never truly come to an end.”

We came to retrace history. We leave with something more: a deeper understanding of China’s past, a clearer view of its present, and perhaps a greater appreciation for the stories that connect us across cultures.

Edgar Snow called the Long March “an Odyssey unequalled in modern times.” He believed that what sustained it was a flame — consisting of an undimmed ardor, an undying hope and an amazing revolutionary optimism.

Ninety years later, that flame still burns.

Passed down through generations, the spirit of the Long March continues to light China’s path forward.

And as it crosses borders and cultures, it offers the world a glimpse of a nation defined by resilience, perseverance and an enduring drive to move forward.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm 

The Finish Line that Changed China: Retracing the Long March to Yan’an
http://www.china.org.cn/video/2026-07/23/content_118614941.shtml

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SOURCE China.org.cn

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Visa and Lianlian Advance Trusted B2B Agentic Commerce Through LoopXPay’s First Live B2B Agentic Transaction

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First live B2B agentic transaction in Greater China highlights how AI-enabled commerce can help SMBs streamline purchasing and payments, supported by Visa’s Agentic Directory for trusted AI agent interactions

SINGAPORE, July 24, 2026 /PRNewswire/ — Visa (NYSE: V), a global leader in digital payments, and Lianlian DigiTech Co., Ltd. (“Lianlian”), an AI-native global financial infrastructure provider, today announced the first live B2B agentic transaction completed using LoopXPay, Lianlian’s AI agent. 

Small and medium sized businesses (SMBs) often lack dedicated procurement teams and spend valuable time sourcing, purchasing and making payments themselves. In the transaction, the LoopXPay agent was used to source a product sample from a supplier and complete the purchase in a single workflow. The agent identified the purchasing requirement, recommended suitable suppliers, compared options, placed the order and securely executed the payment within a single workflow, while operating within pre-defined spending controls and approval parameters.

The milestone highlights how AI-powered commerce experiences can help SMBs simplify purchasing and payment activities while maintaining appropriate controls and oversight. By enabling AI agents to operate within pre-defined spending parameters and approval controls, businesses can reduce manual effort while retaining visibility into commercial decision-making.

As AI agents become more involved in purchasing and payment activities, businesses will require confidence that transactions are being executed by verified participants, within approved parameters and with appropriate oversight. Capabilities aligned with Visa’s Trusted Agent Protocol can help provide the identity, transparency and controls needed to support these interactions.

As part of the collaboration, LoopXPay has been registered in Visa’s Agentic Directory, enabling participating businesses and merchants to identify verified AI agents within the ecosystem. Supporting the implementation of Visa’s Trusted Agent Protocol, the Agentic Directory helps provide greater transparency into agent-driven interactions and confidence that participating agents have met Visa’s requirements.

“AI-powered commerce experiences can help businesses simplify purchasing and payments while maintaining the controls and oversight they require,” said Darren Parslow, Global Head, Visa Commercial Solutions, Visa. “For SMBs, that means less complexity in managing day-to-day commercial activities and more time focused on growth. As businesses increasingly look to embed intelligence into purchasing and payment experiences, trust will become a critical enabler of adoption. Through our collaboration with Lianlian, we are helping advance the trusted foundations that businesses will need to participate in this next era of commerce with confidence.”

Building on this milestone, Visa and Lianlian are exploring how AI agents can support a broader range of commercial activities, including procurement, digital advertising optimisation and B2B platform payments, helping advance trusted commerce through greater efficiency, transparency and control.

Zhang Zhengyu, Founder, Chairman of the Board and CEO, Lianlian DigiTech, said, “AI is reshaping the entire commercial value chain, where a growing number of business activities will be autonomously executed by AI agents, with payments serving as the critical infrastructure connecting them to global commerce. Leveraging its experience in global cross-border payments, compliance, as well as payment network, LianLian is actively building AI-native financial infrastructure, delivering an integrated suite of capabilities for the Agent Economy, spanning identity verification, transaction authorisation, intelligent payment, and global fund settlement. Through this collaboration with Visa, we aim to combine Lianlian’s AI-native capabilities with Visa’s trusted global network and commercial payment expertise to help businesses transact more securely, intelligently and efficiently in an increasingly agent-driven commerce environment.”

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

About Lianlian

Lianlian DigiTech Co., Ltd. (“Lianlian DigiTech” or “Lianlian”) was founded in 2009 and listed on the Main Board of the Hong Kong Stock Exchange in 2024 (stock code: 2598.HK). As China’s leading global provider of digital and intelligent payment services, Lianlian adheres to its mission of “Connecting the world, empowering global commerce” and pursues an “AI-Native + Globalization” strategy. The Company is committed to building a trusted global intelligent financial infrastructure, enabling seamless connectivity between Chinese enterprises and global businesses.  As of now, Lianlian has established a global licensing portfolio comprising 68 payment licenses and related qualifications, and holds a VATP license issued by the Hong Kong SFC. It supports services in more than 200 countries and regions and enables transaction settlement in over 140 currencies, connecting over 180 global e-commerce platforms and serving a cumulative total of over 13.3 million customers. Learn more at www.lianlian.com.

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SOURCE Visa Worldwide Pte. Limited

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