Home

Jobless claims fall again with labor market churning along

Published Wed, 26 Feb 2025 21:42:28 GMT

Applications for unemployment benefits in the U.S. fell last week as the labor market continues to show strength despite some weakness in other parts of the economy. The number of Americans filing for jobless claims for the week ending April 22 fell by 16,000 to 230,000, the Labor Department reported Thursday.The four-week moving average of claims, which flattens some of the week-to-week volatility, fell by 6,000 to 236,000. At the start of the year, weekly claims were running around 200,000 and they have gradually moved higher.The weekly claims numbers are a proxy for layoffs, and continue to show that American workers are enjoying unusual job security despite rising interest rates, economic uncertainty and fears of a looming recession.Overall, 1.86 million people were collecting unemployment benefits the week that ended April 15, 3,000 fewer than the previous week.Matt Ott, The Associated Press

Former Czech soccer head gets prison term for fraud

Published Wed, 26 Feb 2025 21:42:28 GMT

PRAGUE (AP) — The former head of the Czech Republic soccer association was convicted of fraud on Thursday and sentenced to six years in prison.Prague’s Municipal Court also fined Miroslav Pelta 5 million Czech crowns ($235,000) and banned him from an executive position for five years.The court issued the verdict in a retrial of the case after it handed Pelta the same sentence in 2021. An appeals court canceled that ruling and returned the case back to the original court.In the same case, the court also sentenced Simona Kratochvilova, a former deputy education minister, to six-and-a-half years in prison, banned her from working in public offices for six years and fined her 2 million Czech crowns ($94,000).A state prosecutor demanded nine and 10 years in prison for Pelta and Kratochvilova, respectively.The two have denied wrongdoing and still can appeal.The case dates to 2017 when police raided the association headquarters and the offices of FK Jablonec, a provincial soccer club partl...

Canadian Press NewsAlert: TotalEnergies sells Canadian operations to Suncor

Published Wed, 26 Feb 2025 21:42:28 GMT

CALGARY — TotalEnergies says it has signed a deal to sell its Canadian operations to Suncor Energy Inc. in an agreement worth up to $6.1 billion.More coming.Companies in this story: (TSX:BBD.B)The Canadian Press

Russia denies visit to American reporter in visa retaliation

Published Wed, 26 Feb 2025 21:42:28 GMT

MOSCOW (AP) — Russia’s Foreign Ministry on Thursday denied a U.S request for a consular visit to Evan Gershkovich, an American reporter for The Wall Street Journal who is jailed on espionage charges.The ministry said it rejected the request for the May 11 visit in retaliation for the U.S. refusing to grant visas to Russian journalists who planned to accompany Russian Foreign Minister Sergey Lavrov on a trip to the United Nations.Gershkovich has been in custody since his March 29 arrest by Russia’s security service on espionage charges that he, his employer and the U.S. government have denied.Gershkovich is the first U.S. correspondent since the Cold War to be detained in Russia on spying charges, and his arrest rattled journalists in the country and drew outrage in the West.The United States has declared Gershkovich to be “wrongfully detained” and demanded his immediate release.The Russian denial of the U.S. request for a consular visit to Gershkovich followed Lavrov warning that Mo...

US Navy says Iran seized Marshall Islands-flagged oil tanker

Published Wed, 26 Feb 2025 21:42:28 GMT

DUBAI, United Arab Emirates (AP) — The U.S. Navy said Iran seized a Marshall Islands-flagged oil tanker in the Gulf of Oman on Thursday amid wider tensions over Tehran’s nuclear program. The Navy’s Mideast-based 5th Fleet identified the vessel as the Advantage Sweet. Satellite tracking data for the vessel from MarineTraffic.com showed it in the Gulf of Oman just north of Oman’s capital, Muscat, on Thursday afternoon. It had just come from Kuwait and listed its destination as Houston, Texas.“The oil tanker issued a distress call during the seizure,” the 5th Fleet said. “Iran’s actions are contrary to international law and disruptive to regional security and stability. Iran should immediately release the oil tanker.”The vessel’s owners could not be immediately reached for comment. Iran did not immediately acknowledge the seizure and Iran’s mission to the United Nations did not immediately respond to a request for comment. Thursday’s seizure by...

Bring your own bag: LCBO to phase out single-use paper bags

Published Wed, 26 Feb 2025 21:42:28 GMT

BYOB will soon mean ‘bring your own bag’ for many Ontarians.The LCBO says it will be phasing out single-use paper bags in the months ahead and asking customers to bring their own reusable bags when shopping.In a Thursday morning release, the LCBO says it will be clearing its stores of the bags “as part of its commitment to minimize our impact on the environment and create a more sustainable Ontario.”The moves comes 15 years after the provincial liquor retailer got rid of plastic bags.In addition to bringing their own reusable bags moving forward, customers will also have the option to buy a reusable bag in-store, or use cardboard boxes or an 8-pack carrier for free.“This initiative will remove almost 135 million paper bags annually from LCBO retail stores and convenience outlets,” reads the release.The retailer says the move will divert 2,665 tonnes of waste from landfill and save more than 188,000 trees every year.“The removal of single-use paper...

Stock market today: Wall Street climbs ahead of US GDP data

Published Wed, 26 Feb 2025 21:42:28 GMT

TOKYO — Wall Street pointed toward gains ahead of the release of data expected to show the world’s biggest economy cooled in the first quarter despite a very strong showing from the largest companies in the U.S. during the same period. Futures for the Dow Jones industrials rose 0.4% and the S&P 500 inched 0.5% higher before the opening bell ThursdayThe U.S. economy stood firm last year but is expected to weaken and potentially slip into a recession in coming months. Worries over the impact of higher interest rates aimed at vanquishing high inflation are detracting from relatively strong earnings reports for many companies. Shares in Facebook parent company Meta jumped 12% in off-hours trading after its first-quarter results beat Wall Street’s modest expectations on both profit and revenue. Meta’s revenue guidance for the current quarter was also above analyst estimates.Meta’s surprisingly strong quarter echoed results from other high-profile companies. General Motors...

LCBO to phase out paper bags, 15 years after trashing plastic

Published Wed, 26 Feb 2025 21:42:28 GMT

TORONTO — The Liquor Control Board of Ontario says it will phase out paper bags at its retail stores, a move the provincial agency says will save the equivalent of 188,000 trees each year. The Crown corporation says 15 years after it trashed single-use plastic bags, it will discontinue paper bags over the coming months at its stores. The LCBO says customers are encouraged to bring reusable bags, or they can purchase them. Customers can also request a re-used cardboard box or an 8-pack carrier at no cost. The LCBO says the initiative will remove roughly 135 million paper bags annually from its stores, diverting some 2,665 tonnes of waste from landfills. It comes after the LCBO partnered with Tree Canada, a non-profit, as part of its latest sustainability campaign to raise money to plant trees in Ontario.“Fifteen years ago, we took the lead to remove single-use plastic bags from our stores. Now, the removal of single-use paper bags is another important step in our efforts to minimize ...

Glencore willing to take takeover offer for Teck Resources directly to shareholders

Published Wed, 26 Feb 2025 21:42:28 GMT

VANCOUVER — Swiss commodities giant Glencore says it is willing to present its takeover offer directly to shareholders of Teck Resources Ltd. if the company’s board does not come to the negotiating table regarding its unsolicited proposal.The statement came after Teck repeated its assertion that the Glencore’s offer is a “non-starter,” even after the Vancouver-based miner cancelled a key shareholder vote Wednesday on a plan to split its business that Glencore had opposed.Teck called off the vote when it became apparent it did not have the required two-thirds majority approval from shareholders for the proposal, which would have split the company into Teck Metals and Elk Valley Resources. Instead, the company will pursue what is says will be “a simpler and more direct separation.”Teck’s board has rejected Glencore’s unsolicited takeover offer that would see shareholders receive a stake in a combined metals company as well as a choice of...

How will the Sudan crisis end? And what role will Canada play?

Published Wed, 26 Feb 2025 21:42:28 GMT

In today’s Big Story podcast, it’s hard to overstate just how dire things are in Sudan’s capital right now, with violence on the streets and almost no access to food and water for millions. The only option left for many of those caught in the cross-fire, is to attempt to flee the country.Dr. Khalid Mustafa Medani is an associate professor of Political Science and Islamic Studies and the chair of the African Studies program at McGill University. He joins us to break down the origins of the current conflict, and the efforts being undertaken to get Sudanese-Canadians, and other innocent civilians, to safety.“It really is important for Ottawa to understand the severity of this conflict as it threatens the entire region,” he said.So what is happening right now on the ground? What is Canada doing to get its citizens out? And how might this conflict end?You can subscribe to The Big Story podcast on Apple Podcasts, Google and Spotify.You can also find it at thebigstorypodc...