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BMO to shutter retail auto finance business as bad debt mounts

Published Wed, 26 Feb 2025 17:41:20 GMT

MONTREAL — BMO Financial Group says it will close its retail auto finance business in order to reroute resources following a rise in bad debt.The Bank of Montreal also says the decision will trigger an unspecified number of layoffs in Canada and the U.S.It comes after the company’s bad debt provisions more than tripled to $492 million in the quarter ended July 31 compared to a year earlier.In its retail line, the bank’s provisions for credit losses rose 800 per cent to $81 million last quarter from $9 million the year before.Those dents on the income statement hint at the financial strain facing consumers, who have struggled to cope with a spike in interest rates over the past year and a half.The higher borrowing costs have begun to slow some lending demand and deal-making amid heavy competition among Canadian banks on mortgage rates and wider concerns about a general economic slowdown.The Bank of Montreal’s indirect retail auto loans segment works with car dealers...

Ukraine is the spotlight at UN leaders’ gathering, but is there room for other global priorities?

Published Wed, 26 Feb 2025 17:41:20 GMT

UNITED NATIONS (AP) — The war in Ukraine and its visiting president take center stage at the United Nations this week, but developing countries will be vying for the spotlight as well as they push for faster action on poverty and inequality at the first full-on meeting of world leaders since the COVID-19 pandemic disrupted travel three years ago.The annual meeting at the U.N. General Assembly takes place at a polarizing and divisive juncture in history — the most fraught and dangerous since the Cold War, according to many analysts and diplomats.They point to Russia’s invasion of Ukraine in February 2022, which upended already difficult relations among major powers as well as the ongoing impact of the pandemic, high food prices, the worsening climate emergency, escalating conflicts, and the world’s failure to tackle poverty, hunger and gender inequality.For developing countries, the top priority is the U.N.’s two-day summit starting Monday aimed at generating action by world leaders ...

Parts of Chicago, suburbs deal with flooding after morning showers

Published Wed, 26 Feb 2025 17:41:20 GMT

CHICAGO — Parts of Chicago and the south suburbs are dealing with flooding Sunday after morning showers.The flooding in some parts, including 130th and Doty Avenue, has closed roads. Mexican Independence Day parade brings festive energy to Little Village In Calumet City, there is some flooding near Sibley Boulevard and Merill Avenue.Rain is causing more flooding near Sibley Blvd and Merrill Avenue in Calumet City. @WGNNews pic.twitter.com/zKIdULaAbA— Andrea Medina (@AndreaMedinaTV) September 17, 2023A nearby residential area is also flooded. This is by Luella and Sibley Avenues. The entire residential block is flooded. @WGNNews pic.twitter.com/mog0jaEiHm— Andrea Medina (@AndreaMedinaTV) September 17, 2023A Flash Flood Warning is in effect for part of Chicagoland until 2 p.m. and until 5 p.m. in the south suburbs and part of Northwest Indiana.According to the National Weather Service, the rain is expected to continue throughout the evening.

Only 4 people have survived brain-eating amoeba. She's one of them.

Published Wed, 26 Feb 2025 17:41:20 GMT

LITTLE ROCK, Ark. (KARK) - A child in Little Rock recently died from an infection caused by a brain-eating amoeba, bringing back memories for many of a case from 10 years ago when another Arkansas child faced the same diagnosis but survived.On Thursday, Arkansas health officials reported a death due to a person being infected by Naegleria fowleri at a splash pad at the Country Club of Little Rock. Nexstar's KARK has determined the victim in the case was a young child. Death confirmed after rare infection at Little Rock splash pad Arkansan Kali Hardig contracted a similar case of Naegleria fowleri after swimming in a man-made pond ten years ago.Naegleria fowleri cannot infect anyone who swallows it and cannot be spread from person to person, the department of health said. People primarily become infected when swimming in infected bodies of water where the amoeba can enter through the nose.The infection caused by exposure to Naegleria fowleri is called primary amebic meningoencephal...

Soap opera actor Billy Miller dies at 43: reports

Published Wed, 26 Feb 2025 17:41:20 GMT

(NEXSTAR) – Billy Miller, an actor best known for his roles in soap operas like "The Young and the Restless" and "General Hospital" has died, his manager told Variety.He was 43, but would have turned 44 on Sunday, Sept. 17. Billy Miller of The Young and the Restless celebrates his win for Outstanding Supporting Actor at the 2013 CBS Daytime Emmy After-Party. (Photo by Francis Specker/CBS via Getty Images)"The actor was struggling with manic depression when he died," his manager said. Miller's acting credits list more than 700 episodes of "The Young and the Restless" (2008-2014) and nearly 600 episodes of "General Hospital" (2014-2019), plus smaller parts in "Suits" and the movie "American Sniper." Former NFL player missing, mother found dead in Illinois creek He was nominated for both of his major soap opera roles, and won a Daytime Emmy for Outstanding Supporting Actor in a Drama Series three times. In addition to his busy acting career, Miller also owned restaurants in Los...

Twins who were the 'size of pop cans' at birth go home after nearly 140 days in the hospital

Published Wed, 26 Feb 2025 17:41:20 GMT

CLEVELAND (WJW) -- A pop can, a key fob, a hamster, and a bowl of cereal each weigh 12 ounces. That's how much Kimyah Jackson weighed when she was born at Cleveland Clinic. Her brother DJ weighed only 3 ounces more, according to hospital spokesperson Jenna Homrock. Former NFL player missing, mother found dead in Illinois creek "There was only a 10-20% chance they would survive and developmental delays were possible," Homrock said. "At just 22 weeks they became the youngest surviving twins born at Cleveland Clinic."Photo courtesy of the twins' mom, Kimberly ThomasAfter their mom, Kimberly Thomas, delivered them, the babies had to be resuscitated and intubated. "Kimberly spent every day and night in the NICU, unable to hold them for one month because their skin was too fragile," Homrock added.After 138 straight days of receiving care in the NICU, Kimyah and DJ were cleared to go home with their parents Kimberly and Damante Jackson.(Photo Courtesy: Cleveland Clinic)(Photo Courtesy: C...

Texas swaps with Florida State in AP Top 25, Longhorns have highest ranking since 2009

Published Wed, 26 Feb 2025 17:41:20 GMT

AUSTIN (KXAN) — The Texas Longhorns moved up one spot in the Associated Press Top 25 rankings to No. 3 after a 31-10 win over Wyoming, achieving their highest ranking since the 2009 season when they played for the national title.Texas received three first-place votes and edged previously No. 3 Florida State by two poll points to swap spots with them. Georgia and Michigan remained Nos. 1 and 2. Southern California rounded out the top five. Instant Analysis: The Texas Longhorns offense sputtered, defense shined and it’s Baylor next week Ohio State, Penn State, Washington, Notre Dame and Oregon complete the top 10 with the Alabama Crimson Tide's streak of top 10 appearances ending at 128 polls as they fell to No. 13. It was the second-longest streak in the history of the AP poll. The Pac-12 again has eight teams in the rankings, the most of any conference, followed by the Southeastern Conference with six. Tennessee took a huge hit after losing to previously unranked Florida 29-16, tu...

Cedar Park has the 2nd cheapest groceries in the U.S.

Published Wed, 26 Feb 2025 17:41:20 GMT

(NEXSTAR) — If you live anywhere near this Texas area, it might be worth picking up groceries while you're around. That's according to the Council for Community and Economic Research, which recently released its Quarter 2 2023 Cost of Living Index. The index compares the after-tax cost of living of 274 participating urban areas based on six different categories.One Texas city was only just beaten for the top spot on the council's list of 10 least expensive places for grocery items. Texans, it turns out Cedar Park in Central Texas has the second least-expensive groceries of the U.S. areas covered in the index.Cedar Park, which has a population of about 83,159, was edged out for the top spot by Thibodaux-Lafourche Parish, Louisiana, by only two points. “Cedar Park’s high quality of life and commitment to enhancing livability and economic vitality continue to attract new residents and to build new business investment," Cedar Park Mayor Jim Penniman-Morin said in a statement. "At a time...

Low Mississippi River limits barges just as farmers want to move crops downriver

Published Wed, 26 Feb 2025 17:41:20 GMT

DES MOINES, Iowa — A long stretch of hot, dry weather has left the Mississippi River so low that barge companies are reducing their loads just as Midwest farmers are preparing to harvest crops and send tons of corn and soybeans downriver to the Gulf of Mexico.The transport restrictions are a headache for barge companies, but even more worrisome for thousands of farmers who have watched drought scorch their fields for much of the summer. Now they will face higher prices to transport what remains of their crops.Farmer Bruce Peterson, who grows corn and soybeans in southeastern Minnesota, chuckled wryly that the dry weather had withered his family’s crop so extensively they won’t need to worry so much about the high cost of transporting the goods downriver.“We haven’t had rain here for several weeks so our crop size is shrinking,” Peterson said. “Unfortunately, that has taken care of part of the issue.”About 60% of U.S. grain exports are taken by barge down the Mississippi to New Orlea...

Gophers’ P.J. Fleck upset by players’ muscle cramps in 31-13 loss to N.C.

Published Wed, 26 Feb 2025 17:41:20 GMT

CHAPEL HILL, N.C. — P.J. Fleck almost bit his tongue after the Gophers’ 31-13 loss to North Carolina on Saturday.The Gophers head coach was asked about a handful of players dealing with muscle cramps, including quarterback Athan Kaliakmanis, running back Darius Taylor and cornerback Justin Walley, vital contributors who each missed playing time as the U tried to mount a comeback in the third quarter.“I used to be able to say things like, ‘That’s inexcusable’ and stuff like that,” Fleck said. “I don’t — we can’t be cramping up. There is a reason why we prepare the way we prepare, the way we have to prepare. And if we don’t prepare that way, that’s what happens. It’s unfortunate.”Texas Christian coach Sonny Dykes said that he felt a few of his players suffering from muscle cramps played a role in TCU’s 45-42 loss to Colorado in the Horned Frogs’ season opener om Sept. 2.“Guys started cramping at the end of the game,” Dykes lamented. “That is something tha...