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Bank of Canada deputy governor Paul Beaudry to leave post, return to academia at UBC

Published Tue, 03 Dec 2024 17:55:07 GMT

OTTAWA — The Bank of Canada says deputy governor Paul Beaudry will be leaving his position at the central bank at the end of July. According to a news release, Beaudry will return to his academic position at the University of British Columbia. Beaudry is one of four deputy governors who are on the governing council along with governor Tiff Macklem and senior deputy governor Carolyn Rogers.The governing council is responsible for the central bank’s monetary policy, including setting its key interest rate.Beaudry became a deputy governor in February 2019 and has been overseeing the central bank’s analysis of international economic developments in support of monetary policy decisions. Prior to joining the Bank of Canada, Beaudry was an economics professor at UBC’s Vancouver School of Economics. The central bank says it will soon begin an internal recruitment process for the deputy governor position. This report by The Canadian Press was first published April 4, 2023.T...

A calmer Wall Street holds steady ahead of jobs data

Published Tue, 03 Dec 2024 17:55:07 GMT

NEW YORK (AP) — Stocks are holding relatively steady Tuesday, as Wall Street continues to find more calm following its tumultuous swings in March. The S&P 500 was virtually unchanged in early trading. The Dow Jones Industrial Average was edging down by 44 points, or 0.1%, at 33,556, as of 9:50 a.m. Eastern time, while the Nasdaq composite was 0.1% lower. Both the stock and bond markets have been steadying after swerving sharply through the first three months of the year. Many big questions still weigh on Wall Street, but the worst fears driven by the second- and third-largest U.S. bank failures in history have abated following forceful actions by regulators around the world.Investors are still split on whether the U.S. economy will fall into a recession and how badly profits for companies are set to fall. The biggest question remains what the Federal Reserve will do next with interest rates after hiking them furiously over the last year to get high inflation under control. A rep...

Vancouver’s March home sales down 42.5% from a year ago: B.C. board

Published Tue, 03 Dec 2024 17:55:07 GMT

VANCOUVER — The Real Estate Board of Greater Vancouver says home sales fell 42.5 per cent in March from a year ago and were 28.4 per cent below the 10-year seasonal average.Last month’s sales totalled 2,535 compared with 4,405 sales in March 2022 and 1,808 in February. The B.C. board says the numbers signal that March home sales are making a stronger than expected spring showing so far, despite elevated borrowing costs.It also found there were 4,317 new listings, a 35.5 per cent decrease from March 2022 and 22.3 per cent below the 10-year seasonal average.The board says the composite benchmark price for all residential properties in Metro Vancouver reached $1,143,900, a 9.5 per cent decrease from March 2022 and a 1.8 per cent increase compared with February.The board foresees further price increases as the year progresses.“On the pricing side, the spring market is already on track to outpace our 2023 forecast, which anticipated modest price increases of about one to two per ce...

South African opposition protests Uganda’s anti-LGBTQ bill

Published Tue, 03 Dec 2024 17:55:07 GMT

PRETORIA, South Africa (AP) — More than 200 protesters in South Africa have demonstrated at the Uganda High Commission against the anti-gay bill recently passed by Ugandan lawmakers.The demonstration on Tuesday was led by South Africa’s leftist Economic Freedom Fighters opposition party, which urged Ugandan President Yoweri Museveni not to sign the bill into law.LGBTQ activists also joined the march and called on the South African government to speak out against the bill as it threatens the freedoms and safety of the LGBTQ community in Uganda.Homosexuality is outlawed in Uganda but the recent bill has introduced harsh punishment for several acts, including the death penalty and up to 20 years imprisonment.Almost all lawmakers of the 389 who attended the parliamentary session voted in favor of the bill, but Museveni has the powers to veto the bill and not sign it into law.Some of the punishments introduced by the bill include the death penalty for the offence of “aggravated hom...

Severe storms possible Tuesday into Wednesday morning

Published Tue, 03 Dec 2024 17:55:07 GMT

CHICAGO — A potential for a severe weather threat is expected for the Chicago area Tuesday afternoon into Wednesday morning.Scattered showers and thunderstorms are in the forecast Tuesday, with more potent storms —strong to severe — anticipated in the afternoon. Winds: E 10-15, G25 mph. High: 64. Interactive Radar: Track showers and storm here Mostly cloudy tonight with showers and thunderstorms expected, some strong to severe. Winds: S 15-25, G40 mph. Low 61.Wednesday Forecast: Some morning showers and thunderstorms are expected for Wednesday morning's commute, then clearing and colder temperatures with very windy conditions. Winds: SW 20-30, G50mph. High 70 early and then falling temps.Extended outlook calls for cooler temps in the 50s for the rest of the work week. Easter weekend looking mild and sunny on Saturday with highs in the mid to upper 60s. Full forecast details at the WGN Weather Center

South suburban gyro shop owner charged with tax fraud

Published Tue, 03 Dec 2024 17:55:07 GMT

CHICAGO — A gyro and beef shop owner was charged in federal court for allegedly under reporting income at the restaurant for over three years.Heyam Malick, 64, of Orland Park, the owner of Smiley's Gyros and Beef, located in Plainfield, is facing three counts of filing a false tax return.She is accused of under reporting over $725,000 worth of income from 2016 to 2020. Suburban man accused of exposing himself to 2 girls near playground Each tax fraud charge carries a potential sentence of three years.

Trump arraignment: Watch NewsNation live coverage

Published Tue, 03 Dec 2024 17:55:07 GMT

(NewsNation) — NewsNation will be streaming its coverage live without the need for cable authentication as former President Donald Trump is in New York for a historic booking and arraignment on hush money charges.Trump, who has denied any wrongdoing, is now the first former president to face criminal charges. The specific charges, however, have still not been made public.Ahead of the arraignment, New York City officials bolstered security and warned potential protesters it is “not a playground for your misplaced anger.” Energy Department moves forward with light bulb ban “While there may be some rabble-rousers thinking about coming to our city tomorrow, our message is clear and simple: Control yourselves,” said New York Mayor Eric Adams. “New York City is our home. … We are the safest large city in America because we respect the rule of law.”The former president arrived in New York Monday after flying in from Florida. After the arraignment, the Associated Press reports, Trump is e...

Donald Trump to be arraigned in historic court appearance

Published Tue, 03 Dec 2024 17:55:07 GMT

NEW YORK (AP) — An extraordinary moment in U.S. history will unfold in a Manhattan courthouse on Tuesday: Former President Donald Trump, who faces multiple election-related investigations, will surrender and be arraigned on criminal charges stemming from 2016 hush money payments.The booking and appearance before Judge Juan Merchan should be relatively brief — though hardly routine — as Trump is fingerprinted, learns the charges against him and pleads, as expected, not guilty. Merchan has ruled that TV cameras won't be allowed in the courtroom.Trump, who was impeached twice by the U.S. House but was never convicted in the U.S. Senate, will become the first former president to face criminal charges. The nation's 45th commander-in-chief will be escorted from Trump Tower to the courthouse by the Secret Service and may have his mug shot taken.Trump lawyer Joe Tacopina said Tuesday that the former president wouldn't plead guilty to lesser charges, even if it might resolve the case. He sai...

St. Paul Port Authority approves $3.6 million loan to save downtown Treasure Island Center from mortgage default

Published Tue, 03 Dec 2024 17:55:07 GMT

With parking revenue depressed, the reinvention of the former Macy’s Department Store building in downtown St. Paul into a multi-purpose office, restaurant, retail and hockey complex has required an emergency cash infusion in advance of a pending refinance through Colliers Funding.Capital City Properties, the nonprofit real estate development arm of the St. Paul Port Authority, is loaning the joint venture behind Treasure Island Center up to $3.6 million to avoid defaulting on a $40 million mortgage that matures in September.The board of Capital City Properties, which became the majority investor in the joint venture in the early days of the pandemic, approved the operating loan to Go Wild, LLC on March 28 by a vote of 5-0.The Port Authority purchased the former Macy’s building on Wabasha Street in January 2014 and renovated the 540,000-square-foot building into a mixed-use facility with an enclosed practice hockey rink on the roof, several floors of offices and gyms, an...

Albany police investigate forcible touching incidents

Published Tue, 03 Dec 2024 17:55:07 GMT

ALBANY, N.Y. (NEWS10) -- The Albany Police Department is investigating "at least" four incidents of forcible touching that happened Monday evening in Pine Hills. The four incidents reported involve a suspect described as a white male, approximately 5'8" and 140 lbs, who approached women from behind and touched their buttocks, according to police. Get the latest, news, weather, sports and community events delivered right to your inbox! The first incident occurred around 3:20 p.m. between South Main Avenue and West Lawrence Street. Around an hour later, another female victim reported that while walking, a man approached her and touched her buttocks on the 400 block of Hudson Avenue between Ontario and Quail Streets. Roughly five minutes later, a similar incident was reported by a female victim on the 800 block of Madison Avenue between Ontario and Quail Streets. Lastly, around 10:20 p.m., officers received another report from a female victim of a man touching her buttocks in the are...