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Consumer spending to soften in second half of 2023: Canadian Chamber of Commerce

Published Wed, 26 Feb 2025 13:58:07 GMT

OTTAWA — The Canadian Chamber of Commerce says while consumer spending remained strong in the second quarter, it turned a corner after the Bank of Canada ended its pause on interest rate hikes. Chamber chief economist Stephen Tapp says consumer spending will likely slow noticeably in the second half of the year as people cut back on discretionary purchases. He says population growth has been supporting strong spending.The Chamber’s business data lab found that consumer spending saw a resurgence in April and May following a post-holiday slump.However, it says that after the Bank of Canada hiked its key policy rate to 4.75 per cent in June, spending started to dip.The central bank hiked its trendsetting rate again last week to five per cent.This report by The Canadian Press was first published July 20, 2023.The Canadian Press

S&P/TSX composite down as tech stocks fall, U.S. stocks mixed

Published Wed, 26 Feb 2025 13:58:07 GMT

TORONTO — Losses in the technology stocks helped lead Canada’s main stock index lower in late-morning trading, while U.S. stock markets were mixed.The S&P/TSX composite index was down 57.74 points at 20,433.43.In New York, the Dow Jones industrial average was up 234.85 points at 35,296.06. The S&P 500 index was down 16.44 points at 4,549.28, while the Nasdaq composite was down 177.37 points at 14,180.65.The Canadian dollar traded for 75.87 cents US compared with 75.93 cents US on Wednesday.The September crude oil contract was up 44 cents at US$75.73 per barrel and the August natural gas contract was up 15 cents at 2.76 per mmBTU.The August gold contract was down US$8.30 at US$1,972.50 an ounce and the September copper contract was up four cents at US$3.85 a pound.This report by The Canadian Press was first published July 20, 2023.Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)The Canadian Press

Quebec police watchdog investigates death of man who allegedly fired at officers

Published Wed, 26 Feb 2025 13:58:07 GMT

MONTREAL — Quebec’s police watchdog is investigating the death of a man who allegedly got into a shootout with provincial police officers on Wednesday.The watchdog — known as the BEI — says police responded to a call around 7 p.m. about a person in possible distress inside a home in Cleveland, Que., about 115 kilometres east of Montreal.The BEI says that when police spotted the man inside the home he allegedly started shooting at the officers, who shot back.He allegedly opened fire a second time while the officers were crouched behind their patrol vehicles.The BEI says that after police called for backup they heard a loud bang inside the home.Police allegedly found the man unresponsive inside the home, and he was declared dead in hospital.The BEI says there is no criminal investigation underway in this case, and Quebec provincial police have decline to comment.This report by The Canadian Press was first published July 20, 2023.The Canadian Press

Dash cam captures cyclist getting run over by car on Yonge Street

Published Wed, 26 Feb 2025 13:58:07 GMT

Toronto police are investigating a video circulating on social media that captures the moment a cyclist is run over by a car on Yonge Street.Police say the crash happened on Yonge, just north of Lawrence Avenue, around 8:20 a.m. on Wednesday.The dash cam footage submitted to CityNews shows a car striking a cyclist from behind and knocking him off the bike. The car then appears to accelerate into the intersection while pushing both the cyclist and his bike along the pavement.The cyclist manages to get up before the driver gets out of the vehicle. The driver eventually moves their vehicle off to the side of the road and appears to remain at the scene.Police say the cyclist suffered non-life-threatening injuries.Related:Cyclists and drivers sound alarm over overhaul on major downtown Toronto streetToronto biking lawyer David Shellnut says he is not legally involved in the case but has attempted to reach out to people involved in the crash.“Unfortunately, we have a lot of familiar...

Stock market today: Wall Street’s rally fades after Tesla and Netflix fall

Published Wed, 26 Feb 2025 13:58:07 GMT

NEW YORK (AP) — Stocks are slipping Thursday following a mixed set of profit reports, forcing a cooldown for Wall Street’s torrid rally.The S&P 500 was 0.3% lower in morning trading, coming off its highest close since early April 2022 and its seventh gain in the last eight days. The Dow Jones Industrial Average was up 261 points, or 0.7%, at 35,322, as of 11 a.m. Eastern time. The Nasdaq composite was 1.3% lower and on track for its worst drop in six weeks.Two of the most popular stocks, Netflix and Tesla, helped weigh on the market after the companies reported how much profit they earned during the spring.Tesla tumbled 7.3% despite reporting stronger profit and revenue than expected. Analysts said investors may be concerned about how profitable the electric vehicle maker will be after cutting prices. Planned factory downtime during the summer for upgrades could also weigh on its upcoming results.Because Tesla is one of the most valuable companies on Wall Street, its stock movem...

Off-duty Chicago officer killed in ATV crash on Far North Side: source

Published Wed, 26 Feb 2025 13:58:07 GMT

CHICAGO — An off-duty Chicago officer was killed in a crash involving an ATV on the city's Far North Side, according to a police source.The accident happened around 5:45 p.m. Tuesday in the 2500 block of West Bryn Mawr. Police said the 29-year-old man was driving an ATV eastbound on Bryn Mawr when he attempted to overtake an SUV making a left turn, and struck the vehicle.The man was transported to St. Francis Hospital in critical condition, where he was later pronounced dead. The medical examiner has identified him as Raheem Mills. A police source confirms Mills was an off-duty Chicago police officer. 77-year-old woman found dead in her Burbank home; death ruled homicide Major Accidents Unit is investigating the crash.

Million dollar Powerball ticket sold in Chicago suburbs

Published Wed, 26 Feb 2025 13:58:07 GMT

ILLINOIS — While the massive billion dollar Powerball jackpot was won in California Wednesday night, several winning tickets were sold in Illinois, including one for $1 million.Illinois Lottery reports a ticket bought at William Liquor on South York Road in Elmhust matched all five numbers. The lucky ticket holder will claim the $1 million jackpot. Single ticket in California wins $1.08 billion Powerball jackpot Additionally, seven other winning tickets were sold in Illinois, each worth $50,000. Three were sold online one in Waukegan, one in Rockford, one in Princeton and one in Durand.The winning numbers for Wednesday night’s drawing were: white balls 7, 10, 11, 13, 24 and red Powerball 24. The California Lottery said on Twitter that the winning ticket was sold in Los Angeles at Las Palmitas Mini Market. $900,000 Lotto ticket purchased in Chicago suburb Thirty-six $1 million-winning tickets and three $2 million-winning tickets were sold. The $2 million winners were sold in Flor...

Man's ashes left in NYC taxi for 2 days before being returned to family

Published Wed, 26 Feb 2025 13:58:07 GMT

NEW YORK (WPIX) -- The Taxi and Limousine Commission recorded over 2,500 cellphones, wallets, purses and other items were accidentally left in taxi cabs last year alone. However, one thing that virtually never makes the list of items left behind is someone's ashes.Family members and friends of a New York City businessman reported the loss and ended up appreciating what happened next. They called it a posthumous gift from their loved one, given in a way only he could. "Absolutely humorous for dad's ashes to go missing," said the man's son, who requested that his father's identity not be revealed.His dad's final New York City cab ride began last Saturday and didn't end until Monday when the cab driver was notified about the unusual cargo he'd been carrying for days.The cremains of the man -- who had passed away three weeks before -- were in a ceremonial wooden box, which was in a bag that was supposed to be transported by cab to a friend's home in&nb...

Powerball Jackpot winner: The steps the state will take to prove the ticket is real

Published Wed, 26 Feb 2025 13:58:07 GMT

(KTLA) — For the second time in less than a year, California has sold a record-setting Powerball ticket, with one purchased in Los Angeles matching the numbers drawn Wednesday night for a $1.08 billion grand prize. Within just a few hours of the drawing, we knew there was a winner, and even where the ticket had been purchased. So why don't we already know who the lucky ticketholder is?Security is a big part of it. Shortly after a drawing, like last night's Powerball drawing, the California Lottery receives an automated report, according to Carolyn Becker, the agency's deputy director of public affairs and communications. That report details where winning tickets — either a jackpot or any that matched five of the six numbers drawn — were sold in the state. Jackpot! Winning $1 billion Powerball ticket sold in Los Angeles "That's why we know quickly where a winning ticket is sold in California," Becker told Nexstar earlier this year. "So we know the results, if you will, in that reg...

Driver dies in head-on crash in Andover

Published Wed, 26 Feb 2025 13:58:07 GMT

A driver was killed Wednesday in Andover after crashing his SUV head on into a pickup truck, authorities said.The wreck happened near the intersection of Round Lake Boulevard Northwest and 174th Avenue Northwest just after 3 p.m.The man was headed south on Round Lake Boulevard in his sport utility vehicle when he crossed into the northbound lane and struck the pickup truck, the Anoka County sheriff’s office said Thursday.He later was pronounced dead at a local hospital. His name has not been released by authorities.The man driving the pickup truck sustained minor injuries.This crash remains under investigation.Related ArticlesCrime & Public Safety | Motorist charged in Columbia Heights deadly pedestrian crash Crime & Public Safety | Suspected drunk driver hits two pedestrians in Columbia Heights, killing one Crime & Public Safety | Blaine couple charged in connection with explosion at apartment complex Crime & Public Sa...