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Banks set to report earnings strained by economic slowdown

Published Wed, 26 Feb 2025 11:04:46 GMT

TORONTO — Signs of economic slowdown are growing, and Canadian banks could add more evidence this upcoming week.The Big Six banks are set to report fourth quarter results that analysts expect to show lower earnings, more money set aside tocover bad loans, and hints of rising mortgage strain. The results come as economic growth has rolled to a near standstill over the last several months, the engine stalled after the Bank of Canada raised its key interest rate to five per cent. Higher borrowing costs and more cautious banks mean that lending growth has slowed notably. “The key trend in the banking industry right now is really the decrease in lending across the Canadian market,” said Shilpa Mishra, managing director in BDO’s capital advisory services.The pace of lending growth in the third quarter was about half what it was a year ago, while it was down slightly from the previous quarter, she noted. Not only are banks slowing the pace of new lending, but they’re setting aside mo...

13 crew members missing after a cargo ship sinks off a Greek island in stormy seas

Published Wed, 26 Feb 2025 11:04:46 GMT

ATHENS, Greece (AP) — A cargo ship sank off the Greek island of Lesbos in stormy seas early Sunday, leaving 13 crew members missing and one rescued, authorities said. The Raptor, registered in the Comoros, was on its way to Istanbul from Alexandria, Egypt, carrying 6,000 tons of salt, the coast guard said. It had a crew of 14, including eight Egyptians, four Indians and two Syrians, the coast guard said.The ship reported a mechanical problem at 7 a.m. Sunday, sent a distress signal and shortly after disappeared about 4 1/2 nautical miles (8 kilometers) southwest of Lesbos, authorities said.One Egyptian was rescued, a coast guard spokeswoman told The Associated Press.She said that eight merchant ships, two helicopters and one Greek navy frigate were searching for survivors. Three coast guard vessels had difficulty reaching the area because of rough seas, she added. The spokeswoman spoke on condition of anonymity because the case was ongoing and she wasn’t authorized to speak to the m...

Attackers seize an Israel-linked tanker off the coast of Aden, Yemen

Published Wed, 26 Feb 2025 11:04:46 GMT

DUBAI, United Arab Emirates (AP) — Attackers seized a tanker linked to Israel off the coast of Aden, Yemen, on Sunday, authorities said. While no group immediately claimed responsibility, it comes as at least two other maritime attacks in recent days have been linked to the Israel-Hamas war. The attackers seized the Central Park, managed by Zodiac Maritime, in the Gulf of Aden, the company and private intelligence firm Ambrey said. An American defense official, speaking on condition of anonymity to discuss intelligence matters, also confirmed the attack took place.Zodiac called the attack “a suspected piracy incident.”“Our priority is the safety of our 22 crew onboard,” Zodiac said in a statement. “The Turkish-captained vessel has a multinational crew consisting of a crew of Russian, Vietnamese, Bulgarian, Indian, Georgian and Filipino nationals. The vessel is carrying a full cargo of phosphoric acid.”Zodiac described the vessel as being owned by Clumvez Shipping Inc., though other ...

Music venues call for rule changes as noise complaints choke industry

Published Wed, 26 Feb 2025 11:04:46 GMT

Montreal bar and live music venue Turbo Haüs is doing everything it can to mitigate noise and be a good neighbour, says co-owner Sergio Da Silva.The punk rock institution moved in 2018 from a mostly residential neighbourhood to the lively downtown theatre district known as the Quartier des Spectacles. It spent thousands of dollars soundproofing the new space and pays an extra $3,200 in rent each month to keep the two apartments above it empty. So a warning from the city last week to reduce noise came as a shock.“Nice to know it’s illegal to have des spectacles in the … Quartier des Spectacles,” Turbo Haüs lamented in a widely circulated social media post alongside a screenshot of the city notice, which threatens fines of up to $12,000.“It’s a bit surprising and pretty frustrating to be honest,” Da Silva said in a recent interview.He’s one of several club owners calling on Montreal to update noise bylaws and development rules to better p...

Investigation underway after officer shot in Bedford Park

Published Wed, 26 Feb 2025 11:04:46 GMT

CHICAGO -- An investigation is underway after a police officer was shot in Bedford Park Sunday morning, Bedford Fire said. According to the fire department, a police officer was shot multiple times near the 6800 block of South Archer Avenue around 4:13 a.m. The officer was transported to Loyola University Medical Center. His condition is unknown. Northwest Side liquor store employee shot during string of armed robberies A maroon SUV near a gas station pump with several items scattered on the ground are appeared on the scene near 68th Street and Archer Avenue.It is unknown if there is anyone in custody.WGN is actively following this incident and will update as more information is recovered.

Winter Weather Advisory until 2pm, snowiest in NW Chicagoland

Published Wed, 26 Feb 2025 11:04:46 GMT

Sunday: Winter Weather Advisory until 2p. Snow at times, tapering off in the early PM. Accumulations 1-3" Snowiest in NW Chicagoland. SW 5-10 mph. High mid 30sSunday Night: Decreasing clouds & cold. WNW 5-10 mph. Lows in the lower 20s, teens in the suburbs.Monday: Mostly sunny, breezy & very cold. Wind chills in the upper teens. NW 10-20 mph. High near 30. Chicago Weather | Tom Skilling and the WGN Weather Center's Forecast (wgntv.com)Extended outlook calls for a cold Tuesday with mostly sunny skies and highs in the lower 30s. A few more clouds on Wednesday and highs get into the mid to upper 30s. Thursday back into the 40s with a mix of sun with clouds. Mid 40s on Friday with mostly cloudy skies and a chance of some rain showers. Saturday also looks mostly cloudy with highs in the mid 40s. 

APD provides details on east Austin homicide

Published Wed, 26 Feb 2025 11:04:46 GMT

AUSTIN (KXAN) -- The Austin Police Department said it began investigating an east Austin homicide late Saturday. Police said the homicide occurred near the 2500 block of Sol Wilson Avenue.At approximately 10 p.m., police responded to the area after multiple callers reported hearing gunshots.APD said two men were found with "obvious trauma to their bodies."Police said one of the men died at the scene while the other was taken to the hospital. APD reported the man taken to the hospital was in stable condition. According to APD, a disturbance led to three people being injured, one of which was the man who died. MAP: Where have Austin’s homicides occurred in 2023? As of Saturday evening, APD said no one was in custody related to the incident.Police said this incident was being investigated at Austin's 64th homicide of 2023.

What is the least-visited state park in Texas? Here’s the top 10 countdown for 2023

Published Wed, 26 Feb 2025 11:04:46 GMT

AUSTIN (KXAN) — From mountains and canyons to forests and swamps, the vast scale of Texas provides so many natural wonders.Across the Lone Star State, there are 86 state parks, natural areas and historic sites currently operated by the Texas Parks and Wildlife Department. What is the most-visited state park in Texas? Here’s the top 10 countdown for 2023 The first parks were opened to the public in the 1930s and the newest, Old Tunnel State Park, opened in 2012. TPWD also has plans to develop five sites into future state parks.Fairfield Lake State Park, meanwhile, closed to the public on June 4, after the property was sold to a private developer. From state park to private development: The twisting timeline of Fairfield Lake TPWD splits the state into seven 'natural regions,' each of which is home to several state parks. The Prairies & Lakes region is home to 22 parks, more than any other region. The South Texas Plains region is home to the fewest, with seven parks....

The feel of winter for a few days

Published Wed, 26 Feb 2025 11:04:46 GMT

AUSTIN (KXAN) -- The cold front arrived during the pre-dawn hours leaving gusty north winds. Gusts of 20 to 30 mph will affect the area until the middle of the afternoon. Wind speeds will lower as we get closer to sunset at 5:30.Gusty winds this morning subside later this afternoon.Temperatures likely won't get out of the 50s today nor tomorrow with most highs averaging the middle 50s. The cold will be felt more in the mornings. Lows tomorrow and Tuesday mornings will be in the 30s areawide. Freezing temperatures are likely for some in the Hill Country.30s for some the next three morningsLight rain continued overnight, ending around 6:15 a.m. Most rain totals ranged from a trace to .10" since yesterday. Several reporting stations picked up more than that, topped by .27" at a gauge 10 miles west-southwest of Lampasas ... and .22" east of Cherokee and north of Tow.Dry weather will be part of the forecast until Wednesday evening. The upper flow will return from the southwest while surf...

Early morning fire breakout at St. Louis retirement home

Published Wed, 26 Feb 2025 11:04:46 GMT

ST. LOUIS -- Firefighters are currently battling a fire at the Laclede Groves retirement home in Webster Groves, St. Louis. The incident began around 5 a.m. this morning.Emergency crews from the Webster Groves, Crestwood, Melville, Kirkwood, Fenton, and Lemay fire departments are actively engaged in combating the fire. The exact cause of the fire remains unclear at this time, and there are no immediate reports of injuries, except for one firefighter indicating that one person was taken to the hospital.This is an evolving story, and further updates will be provided as additional information becomes available.