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Germany’s economy shrank, and it’s facing a spending crisis that’s spreading more gloom

Published Wed, 26 Feb 2025 10:11:13 GMT

FRANKFURT, Germany (AP) — Germany’s economy shrank in recent months and business confidence is still in the dumps, according to figures released Friday, while the government is struggling to overcome a budget crisis that threatens to exacerbate problems in what was already the world’s worst-performing major developed economy.Europe’s largest economy shrank 0.1% in the July-to-September quarter as inflation eroded people’s willingness to spend, Germany’s statistics office confirmed Friday. Meanwhile, the closely watched Ifo institute survey of business optimism showed a tiny uptick to 87.3 for November from 86.9 in October but remained well below its July level. The downbeat figures come as the country’s budget crisis raises the possibility of deep spending cuts next year. A court ruled last week that previous spending violated constitutional limits on deficits, forcing Chancellor Olaf Scholz’s government to put off a final vote on next year’...

Mastermind Toys obtains creditor protection; wants permission to close some Canadian stores

Published Wed, 26 Feb 2025 10:11:13 GMT

Mastermind Toys, the largest independent specialty toy and children’s book retailer in Canada, announced on Friday it obtained a creditor protection order, citing competition challenges and disruptions from the COVID-19 pandemic.Mastermind LP said all 66 stores across Canada will remain open, and the current sales and holiday promotions will continue in stores and online.A company spokesperson said the decision to seek and obtain creditor protection was made “following careful evaluation of available alternatives and in consultation with legal and financial advisors.”“Over the past several years, Mastermind Toys has faced a range of challenges, including increasing competition, disruptions from the COVID-19 pandemic, and, more recently, a deteriorating macro-economic environment,” a Mastermind Toys spokesperson wrote in a news release.“Despite implementing a series of operational improvements and cost reductions, and undertaking an extensive ...

Putin to boost AI work in Russia to fight a Western monopoly he says is ‘unacceptable and dangerous’

Published Wed, 26 Feb 2025 10:11:13 GMT

MOSCOW (AP) — Russian President Vladimir Putin on Friday announced a plan to endorse a national strategy for the development of artificial intelligence, emphasizing that it’s essential to prevent a Western monopoly.Speaking at an AI conference in Moscow, Putin noted that “it’s imperative to use Russian solutions in the field of creating reliable and transparent artificial intelligence systems that are also safe for humans.”“Monopolistic dominance of such foreign technology in Russia is unacceptable, dangerous and inadmissible,” Putin said. He noted that “many modern systems, trained on Western data are intended for the Western market” and “reflect that part of Western ethics, norms of behavior, public policy to which we object.”During his more than two decades in power, Putin has overseen a multi-pronged crackdown on the opposition and civil society groups, and promoted “traditional values” to counter purported Western influence — policies that have become even more oppressive...

Oil and gas well drilling to pick up in 2024: Forecast

Published Wed, 26 Feb 2025 10:11:13 GMT

CALGARY — Canada’s oil and gas well drilling sector says it expects modest growth in 2024.The Canadian Association of Energy Contractors (CAOEC) says it expects 6,229 wells to be drilled in Western Canada next year.That’s an 8.3 per cent increase from the 5,748 wells drilled in 2023.The industry group says most of this growth is expected to happen in the second half of 2024 as the market rebounds from what was a softer third quarter in 2023.CAOEC says the drilling sector will need more than 39,000 workers this year.It says finding experienced workers has been challenging and the industry is marketing itself to prospective workers across the country, including in Central and Eastern Canada.This report by The Canadian Press was first published Nov. 24, 2023.The Canadian Press

Aerospace firms push back against Bombardier, tout upsides of a Boeing military deal

Published Wed, 26 Feb 2025 10:11:13 GMT

MONTREAL — Canadian aerospace companies are pushing back against the idea that a Bombardier Inc. contract win to replace aging military patrol planes would be best for the sector, saying that a deal between Ottawa and front-runner Boeing Co. could be at least as lucrative.Bombardier has been demanding the federal government allow for open competition on the successor to the Royal Canadian Air Force’s half-century-old CP-140 Aurora aircraft.The Montreal-based business jet maker argues that its surveillance planes will, once they start rolling off the line early next decade, offer a cheaper and more high-tech product that will be manufactured in Canada.So far the government has not said whether it will go with a sole-source contract or an open bid, but its procurement department has stated that Boeing’s off-the-shelf P-8A Poseidon is the only reconnaissance aircraft currently available that meets the military’s needs.Martin Brassard, CEO of Quebec-based landing gear maker Héroux-Devte...

1 dead, 3 injured in East Gwillimbury crash

Published Wed, 26 Feb 2025 10:11:13 GMT

A 65-year-old woman is dead and three other people are injured following a two-vehicle crash in East Gwillimbury.York Regional Police officers were called to the intersection of Green Lane East and 2nd Concession for a collision involving a Volkswagen Tiguan and a BMW just before 2 p.m. on Thursday.The woman, who was a passenger in the Volkswagen, was airlifted to hospital where she later died.A 26-year-old woman, a passenger in the BMW, was taken to a local hospital with serious injuries.The drivers in both vehicles suffered minor injuries.Police say no charges have been laid at this time.Investigators are looking to speak with witnesses who have yet to come forward and are appealing to anyone with dashcam footage or video surveillance of the area at the time of the crash to contact them.

Paris Hilton announces the arrival of a baby daughter, London

Published Wed, 26 Feb 2025 10:11:13 GMT

Paris Hilton had a Thanksgiving surprise to share: a daughter named London.Hilton on Friday shared an Instagram photo of a pink baby outfit with “London” printed on the top.“Thankful for my baby girl,” read the caption.She followed with several Thanksgiving TikToks that further demystified the new arrival, including one in which she and husband Carter Reum chant “big brother” to their baby son Phoenix. London was welcomed via surrogate, Hilton’s representative confirmed to The Associated Press on Friday.Hilton has been open about her journey to motherhood, freezing eggs and surrogacy. On her podcast earlier this year, Hilton had said that she was excited for Phoenix to have a baby sister named London.“It’s my favorite city and I’ve always wanted to name my daughter London,” Hilton said at the time. “I had actually picked that name for a long time now, probably over 10 years. I always wanted London. I love that name for my daughter.”Hilton and Reum announced the arrival of Phoenix, a...

Police identify American couple killed in Rainbow Bridge crash, explosion

Published Wed, 26 Feb 2025 10:11:13 GMT

Police have identified the two people killed in a fiery crash at the Rainbow Bridge border crossing in Niagara Falls earlier this week.The Niagara Falls Police Department say the occupants of the speeding vehicle that lost control on the U.S. side of the border were 53-year-old Kurt P Villani and his wife, 53-year-old Monica Villani, both of Grand Island, New York.The couple was killed in the collision and explosion around 11:30 a.m. Wednesday. The incident prompted an FBI investigation and set off security alerts on both sides of the border, until officials determined it was a local police matter and nothing more. Related: Some were quick to blame terrorism, and Canada, after fatal Rainbow Bridge border explosion Witnesses describe ‘terrifying’ scene following deadly Rainbow Bridge car explosion Video released from the U.S. Customs and Border Protection shows the couple’s Bentley speeding into the customs area, striking a curb ...

Slovak leader calls the war between Russia and Ukraine a frozen conflict

Published Wed, 26 Feb 2025 10:11:13 GMT

PRAGUE (AP) — Slovakia’s new prime minister, Robert Fico, said on Friday he considers the war between Ukraine and Russia a frozen conflict that cannot be solved by sending arms to the Ukrainian armed forces.Fico ended his country’s military aid for Ukraine after his new government was sworn in on Oct. 25.After meeting his Czech counterpart, Petr Fiala, in Prague on Friday, he said he would prefer the Russian and Ukrainian sides sit at a negotiation table. He didn’t say how to achieve that.Fico traveled to Prague for his first bilateral foreign trip. The leaders of the two countries that once formed Czechoslovakia traditionally visit each other after they get elected before visiting any other heads of state. They have remained close to each since after Czechoslovakia split into the Czech Republic and Slovakia in 1993.The Czech Republic, or Czechia, has been a staunch supporter of Ukraine and has been giving it heavy weapons and other arms.“There’s no doubt we have different views of ...

Israeli media say Hamas has released Israeli hostages

Published Wed, 26 Feb 2025 10:11:13 GMT

DEIR AL-BALAH, Gaza Strip (AP) — Israeli media say the Hamas militant group has released the first batch of hostages under a cease-fire deal Friday, including 13 Israelis who have been held in the Gaza Strip for nearly seven weeks.The media cited Israeli security officials.Twelve Thai nationals were also released, according to Thai Prime Minister Srettha Thavisin.In all, 50 captives are set to be freed during a four-day truce.Israel is set to free 150 Palestinians over the next four days, as part of the deal. Thirty-nine prisoners are to be freed Friday. Israel allows for temporary ceasefire, setting stage for release of some hostages and more aid to Gaza