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As Fed looks to hike interest rates higher, Rogers says BoC can carve its own path

Published Thu, 20 Feb 2025 11:25:03 GMT

As Canada faces its own set of economic challenges its central bank is tailoring its monetary policy accordingly, Carolyn Rogers said. In a speech in Winnipeg Thursday, the Bank of Canada’s senior deputy governor touted the advantage of having an independent monetary policy.While the world is interconnected, Rogers said the Bank of Canada needs to do what’s best for Canada, while other central banks do what’s best for their countries.“While we’re always thinking globally, we have to act locally,” she said. “We must tailor our policy to Canadian circumstances.”Her comments come one day after the central bank held its key interest rate steady for the first time in a year, diverging from the U.S. Federal Reserve, which has signalled more rate hikes are to come.At its Jan. 25 interest rate decision, the Bank of Canada said it was planning to move to the sidelines, appearing hopeful its rate hikes to-date may be sufficient to quash inflation.In her speech, the senior deputy governo...

Former Ohio House speaker convicted in $60M bribery scheme

Published Thu, 20 Feb 2025 11:25:03 GMT

COLUMBUS, Ohio (AP) — Former state House Speaker Larry Householder and former Ohio Republican Party Chair Matt Borges were convicted Thursday in a $60 million bribery scheme that federal prosecutors have called the largest corruption case in state history.A jury in Cincinnati found the two guilty of conspiracy to participate in a racketeering enterprise involving bribery and money laundering, after about 9 1/2 half hours of deliberations over two days.U.S. Attorney Kenneth Parker said the government’s prosecution team showed that “Householder sold the Statehouse, and thus he ultimately betrayed the people of the great state of Ohio he was elected to serve.” He called Borges “a willing co-conspirator.”“Through its verdict today, the jury reaffirmed that the illegal acts committed by both men will not be tolerated and that they should be held accountable,” Parker said.Attorneys for Householder and Borges did not immediately respond to messages left by The Associated Press on Thursday....

2023 Oscars: What to know about the best actor nominees

Published Thu, 20 Feb 2025 11:25:03 GMT

LOS ANGELES (AP) — It’s always fun when an Oscars category is filled with first-time nominees at varying stages of their careers. Best actor is another three-way race, between Austin Butler, Colin Farrell and Brendan Fraser, with each having scored notable wins from guilds and critics groups. The Associated Press’ film writers predict Fraser to have the edge. Here’s a bit more about the nominees and their roles before the Oscars on March 12, which airs live on ABC beginning at 8 p.m. Eastern. And if you’ve missed a performance, there’s still time to watch this year’s nominees.BRENDAN FRASERBrendan Fraser doesn’t mind that people have called his turn in Darren Aronofsky’s “The Whale,” in which he plays a reclusive English teacher named Charlie who is grappling with his past in the midst of a dire prognosis, a “comeback.” But it’s not the word he’d choose. “If anything, this is a reintroduction more than a comeback,” Fraser told The AP. “It’s an opportunity to ...

Ottawa fast-tracks purchase of weapons for troops in Europe amid long-term challenges

Published Thu, 20 Feb 2025 11:25:03 GMT

OTTAWA — Defence Minister Anita Anand says Ottawa will fast-track the purchase of anti-tank, anti-aircraft and anti-drone weapons for the Canadian military with a mechanism last used during the war in Afghanistan.Anand announced the plan Thursday at the Conference of Defence Associations Institute, one of Canada’s largest defence conferences, saying the new weapons are needed now for Canadian troops in Latvia and other parts of Europe.“Canada’s largest foreign military deployment … is on NATO’s eastern flank in Latvia,” she said. “And our troops there must have the equipment that they need to protect themselves and to do their jobs, especially at this crucial time.”The defence minister also emphasized the need to update Canada’s long-term plan for the military, as she launched public consultations to inform the government while it revisits its previous strategy.The Liberal government released a defence policy in 2017, promising b...

Ex-Goldman Sachs banker gets 10 year sentence in 1MDB fraud

Published Thu, 20 Feb 2025 11:25:03 GMT

NEW YORK (AP) — A former Goldman Sachs banker was sentenced Thursday to 10 years in prison for his role in looting a Malaysian development fund of billions of dollars used to finance lavish parties, a superyacht, premium real estate and even the 2013 film “The Wolf of Wall Street.”Roger Ng was convicted last April by a U.S. District Court jury in Brooklyn, but he continues to deny charges that he conspired to launder money and violated two anti-bribery laws.Prosecutors said Ng and his co-conspirators helped the Malaysian fund, known as 1MDB, raise $6.5 billion through bond sales — only to participate in a scheme that siphoned off more than two-thirds of the money, some of which went to pay bribes and kickbacks.Reading from a prepared statement, Ng pleaded for mercy from U.S. District Judge Margo Brodie.“I’m embarrassed. I’m ashamed,” he told the judge. “I don’t want to live in resentment,” he said. “I want to redeem myself.”The judge admonished Ng: “The only explan...

Belarus passes law to execute officials convicted of treason

Published Thu, 20 Feb 2025 11:25:03 GMT

TALLINN, Estonia (AP) — Belarus’ authoritarian president on Thursday signed a bill introducing capital punishment for state officials and military personnel convicted of high treason.The amendments to the country’s criminal code endorsed by President Alexander Lukashenko envisage death sentences for officials and servicemen who caused “irreparable damage” to Belarus’ national security through acts of treason.Belarus is the only country in Europe that hasn’t banned capital punishment, which has been applied to those convicted of murder or terrorism. Executions are carried out with a shot to the back of the head.Lukashenko has ruled Belarus with an iron fist for nearly three decades, brutally suppressing dissent. Belarusian authorities unleashed a brutal crackdown against demonstrators who protested his re-election in an August 2020 vote that the opposition and the West denounced as rigged, detaining more than 35,000 and beating thousands.On Monday, a Belarusia...

Purolator commits $1B to electrify Canadian delivery vehicle fleet by 2030

Published Thu, 20 Feb 2025 11:25:03 GMT

TORONTO — Purolator plans to electrify its Canadian fleet network by 2030 through a $1 billion commitment to purchase more than 3,500 electric delivery vehicles.In what the courier is calling the largest investment in its 63-year history, it says the plan will contribute to its goal of electrifying 60 per cent of its overall fleet over the next seven years.More than 60 terminals across Canada will also go green by 2030 as it aims to reduce greenhouse gas emissions by 80,000 tonnes of carbon dioxide equivalentThe company says it will begin the rollout by deploying 25 Ford e-transit vans in London, Ont., Richmond, B.C., and Quebec City this month, with plans to add 100 green vehicles by the end of this year.President and CEO John Ferguson says Purolator wants to be “the greenest courier company in Canada.”The company says it is on a path to reach net-zero emissions by 2050.This report by The Canadian Press was first published March 9, 2023.The Canadian Press

Transat CEO says travel demand nearly on par with 2019 despite higher prices

Published Thu, 20 Feb 2025 11:25:03 GMT

MONTREAL — The head of Transat AT Inc. says travel demand is poised to reach heights comparable with 2019, even as higher airfares and the threat of recession risk dampening customers’ enthusiasm.“Transat is moving towards a gradual return to profitability,” CEO Annick Guérard told a conference call Thursday to discuss the company’s latest results.“Overall, we’re still seeing a strong momentum in sales both for the rest of the winter and for summer.”The travel company, which owns Air Transat, said the pace of bookings is similar to pre-pandemic levels as strong demand fuels fare hikes and helps cover higher costs.Prices have gone up so much that the airline expects a 25 per cent growth in yield — a key per-passenger revenue metric — in the current quarter comparable with a year earlier.Transat said in its investor presentation that despite concerns of a recession, the North American airline sector is benefiting from a counter-cyclical recove...

CPD search for person in connection to double homicide on South Side

Published Thu, 20 Feb 2025 11:25:03 GMT

CHICAGO — The Chicago Police Department is looking for a person in connection to a shooting that left two men dead inside of a South Side apartment February 28.According to police, 36-year-old Cordero Gladney and 25-year-old Dartanyon Wheeler were found dead inside of the East Chatham apartment with gunshot wounds to the head. Illinois woman leads police on 120 mph chase Police say the person in connection to the incident was last seen wearing a black hooded sweatshirt with gray sweatpants and white gym shoes. If any information is recovered on the incident, contact Area 2 detectives at (312)-747-8271.

2 teen boys charged with battery, attempted robbery of 84-year-old in Chatham

Published Thu, 20 Feb 2025 11:25:03 GMT

CHICAGO — Two teen boys were charged in a beating and attempted robbery of an elderly man Wednesday in Chatham.Officers responded to the 400 block of East 81st Street on the report of a battery.A 13-year-old boy and 15-year-old boy were arrested nearby in the 7900 and 8000 blocks of South Eberhart. Around 30 minutes earlier, they were accused of beating and attempting to rob an 84-year-old man. Man accused of battering CTA employee, damaging attendant booth Both teens were charged with aggravated battery and two counts of attempted robbery. Additionally, the 15-year-old faces a count of aggravated assault with a deadly weapon.