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India Blocks 8,000+ Pakistani Accounts on X

India has ordered social media platform X to block more than 8,000 accounts, a measure the company is implementing despite expressing concerns about its implications for free speech.

The platform acknowledged Thursday it had begun restricting access to the specified accounts within India’s borders. In a public statement, X said complying with the directive was difficult but necessary to maintain service in the country.

You can read more on the matter here.

What’s going on?

• Celsius Founder Sentenced to 12 Years for Fraud (theDeepDive)

• Canadian companies shift focus to Europe for exports, growth (Globe)

• Chevy’s Electric Work Truck Sets New Range Record (theDeepDive)

• Trump proposes to raise income taxes on wealthy Americans (FT)

• Beijing Finally Agrees to Talk Trade with Washington (theDeepDive)

• Fed’s Barkin Says Not All Firms Can Raise Prices on Tariffs (Bloomberg)

• Trump to Scrap Biden-Era Global AI Chip Curbs (theDeepDive)

• First Chinese freight ship goods hit with Trump’s 145%-plus tariffs arriving at U.S. ports (CNBC)

• BREAKING: Habemus Papam! Conclave Elects First American Pope To Lead 1.4B Catholics (theDeepDive)

• U.S. tariffs begin to squeeze Canada’s labour market, jobless rate rises to 6.9% (Globe)

• Spain Reconsiders Nuclear Phase-Out After Grid Collapse (theDeepDive)

What’s the latest?

• WestJet: Delta Air Lines is acquiring a 15% stake in WestJet for US$330 million, while Korean Air is buying 10% for US$220 million, valuing WestJet at nearly US$3.1 billion. Delta will also sell a 2.3% stake to Air France-KLM for US$50 million. The move positions WestJet for potential SkyTeam alliance membership and broader international growth amid a 400M+ valuation drop since Onex’s 2019 acquisition. Domestic competition and reduced U.S. demand have led WestJet to cut nine U.S. routes and shift focus to Canadian flights.

• Unemployment Rate: Canada's unemployment rate rose to 6.9% in April, the highest since November, despite a gain of 7,400 jobs. Manufacturing lost 31,000 jobs—mostly in Ontario—due to new U.S. tariffs, while wholesale and retail trade shed 27,000. Public administration added 37,000 jobs, largely from temporary federal election work. Average hourly wages grew 3.4%, and economists now see rising odds of a Bank of Canada rate cut in June.

• Air Canada: Air Canada cut its 2025 earnings forecast to $3.2–$3.6B (down from $3.4–$3.8B) due to a 13% drop in U.S.-bound bookings, partly driven by tariffs, trade tensions, and a weak Canadian dollar. Q1 net loss widened to $102M from $81M last year, with adjusted losses at 45 cents/share—better than expected. The airline cut U.S. flight capacity by 10% and redirected planes to Europe and Asia, while overall capacity growth expectations were lowered to 1–3%. Revenues dipped slightly to $5.20B, but strong cost control helped maintain stable advance ticket sales.

• Enbridge:  Enbridge reported a Q1 2025 profit of $2.3B (up from $1.4B in Q1 2024), or $1.04/share vs. 67 cents a year earlier. Adjusted earnings rose to $1.03/share from 92 cents, while distributable cash flow per share increased to $1.73 from $1.63. Strong asset utilization drove record financial results, positioning the company to meet or exceed full-year guidance. CEO Greg Ebel emphasized collaboration with the new Canadian government to expand energy exports and competitiveness.

• Alphabet: Alphabet shares fell 7.3% on Wednesday and are down ~6% for the week, losing $120B in market value, after Apple revealed declining Safari searches and plans to explore AI-powered search alternatives. Google currently pays ~$20B annually to remain Safari’s default search engine. Alphabet’s global search market share dropped from 92.9% in Jan 2023 to 89.7% in Mar 2025. Despite this, over 80% of analysts still rate Alphabet a buy, though 2025 net income estimates of $115B are under scrutiny.

Kinross Q1 2025 Earnings

The stock market and stuff

• Franco-Nevada’s Record Revenue In Q1 2025 Overshadowed By Cash Flow Plunge (theDeepDive)

• Wheaton Taps Inventory to Fuel Record Revenue in Q1 2025 as Production Lags (theDeepDive)

• Panasonic to cut 10,000 jobs, expects $900 million in restructuring costs (Reuters)

• Lundin Gold Triples Net Income in Q1, Launches New Variable Dividend (theDeepDive)

• B2Gold Q1 2025: Cash Flow Crashes 75% Despite 50% Profit Jump (theDeepDive)

In the juniors

• Aya Gold & Silver Reports Decline In Recoveries In April As Throughput Increases At Zgounder (theDeepDive)

• Red Pine Exploration Commences Focused Surface Drilling Program to Assess Potential for Near-Term, Open Pit Production (JMN)

• Gates-Bezos Mining Venture Plans Entry into Congo’s Contested Lithium Sector (theDeepDive)

FULL DISCLOSURE: Giant Mining Corp. is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Giant Mining Corp.. The author has been compensated to cover Giant Mining Corp. on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.