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Brookfield Asset Management aims to raise US$150B this year, even as earnings drop

Published Tue, 25 Feb 2025 17:27:18 GMT

TORONTO — Brookfield Asset Management Ltd. says it expects to raise a multibillion-dollar bundle of cash this year after boosting distributable earnings last quarter, even as net income fell by a third.The company, which owns a one-quarter stake in the asset management business that is 75 per cent owned by Brookfield Corp., posted net income of US$109 million in the quarter ended June 30 versus US$125 million in the first three months of the year.The business, Brookfield Asset Management, was spun off from Toronto-based Brookfield Corp. in December last year.The full asset management business, which keeps its results in U.S. dollars, earned US$455 million in its second quarter, down 32 per cent from US$668 million in the same period a year earlier.However, distributable earnings climbed to US$527 from US$511 million a year prior, and revenue rose to US$985 million from US$924 million.Connor Teskey, president of Brookfield Asset Management, says the company expects to raise close to ...

Atlanta begins to brace for the potential of a new Trump indictment as soon as next week

Published Tue, 25 Feb 2025 17:27:18 GMT

ATLANTA (AP) — Donald Trump and officials in Atlanta are bracing for a new indictment that could come as soon as next week in a Georgia prosecutor’s investigation into the former president’s efforts to overturn his 2020 election loss in the state. Fulton County Sheriff Pat Labat has said he’s in meetings “every day” to prepare for a possible indictment. In anticipation of potential charges, his deputies erected barriers last week along the block in front of the main courthouse. The street was closed this week, and parking is prohibited on nearby streets. Those measures are to remain in place through the end of next week, Labat’s office said.Trump has said he expects to be indicted a fourth time by next week and has begun stepping up his criticism of Fulton County District Attorney Fani Willis, who has spent two years leading the election probe into Trump and his allies. Speaking to supporters in New Hampshire on Tuesday, the Republican former president launch...

GOP donor Anton Lazzaro sentenced to 21 years for sex trafficking minors in Minnesota

Published Tue, 25 Feb 2025 17:27:18 GMT

MINNEAPOLIS (AP) — A formerly well-connected GOP donor convicted of giving teenage girls gifts, alcohol and money in exchange for sex was sentenced Wednesday to 21 years in prison on sex trafficking charges.Anton “Tony” Lazzaro was found guilty in March by a federal jury of seven counts involving “commercial sex acts” with five girls ages 15 and 16 in 2020, when Lazzaro was 30. The charges carried mandatory minimum sentences of 10 years with a maximum of life in prison.Prosecutors had requested a 30-year sentence for Lazzaro. They likened Lazzaro to financier Jeffrey Epstein, who was arrested in 2019 on federal charges accusing him of paying underage girls for massages and then abusing them at his homes in Florida and New York. The defense asked for no more than 10 years. U.S. District judge Patrick Schiltz came down in the middle. Lazzaro, who maintains his own innocence and has said the charges against him were politically motivated, plans to appeal.“It went as expected,” defense ...

The Perseid meteor shower peaks this weekend and it’s even better this year

Published Tue, 25 Feb 2025 17:27:18 GMT

NEW YORK (AP) — The annual Perseid meteor shower reaches its peak this weekend, sending bright trails of light streaking across the night sky. With only a sliver of moon in the sky, conditions this year will be ideal for seeing lots of meteors.“If you’ve got nice clear weather and a good dark sky, you go out just before dawn and you’ll see a Perseid per minute or so,” said NASA meteor scientist Bill Cooke. “That’s a pretty good show.”Here’s how to watch the meteor shower:WHAT ARE THE PERSEIDS? The Perseids — one of the biggest meteor showers we can see — occur every year in the late summer. Meteor showers happen when the Earth moves through fields of debris floating around in space. The Perseids come from comet Swift-Tuttle, a big ball of ice and rock that sheds pieces of dusty debris as it orbits around the sun. When the Earth passes by, those bits get caught in our atmosphere and burn up, creating the streaking lights. The Perseids get their name from the constellation Perse...

Iran summons British envoy over his social media post calling for release of detained journalists

Published Tue, 25 Feb 2025 17:27:18 GMT

DUBAI, United Arab Emirates (AP) — Iran’s foreign ministry on Wednesday summoned Britain’s envoy to Tehran to protest his posts on social media calling for the government to release all people ”arbitrarily detained” in Iran, including journalists, the state-run news agency reported. The IRNA news agency said British Ambassador Simon Shercliff was summoned for posting on Tuesday what the ministry described as “interfering remarks” on the platform X, formerly known as Twitter. The posting came as Iran marked Journalists Day, commemorating the death of Mohammad Saremi, an Iranian journalist who worked for IRNA, and eight other Iranians killed by the Taliban on Aug. 8, 1998 in the city of Mazar-i-Sharif in Afghanistan. Shercliff noted the commemoration and said: “We pay tribute to all journalists prevented from doing their jobs and facing threats to their safety.”“We reiterate our call for Iran to release all arbitrarily detained individuals, including journalist...

Quebec court says it can hear challenge to governor general’s lack of French

Published Tue, 25 Feb 2025 17:27:18 GMT

MONTREAL — The Quebec Superior Court has ruled that it can hear a challenge to the appointment of Gov. Gen. Mary Simon, who isn’t fluent in French.Several groups are seeking to have Simon’s appointment declared null and void because they say the governor general is constitutionally required to communicate in both official languages.The attorney general of Canada had argued that only the Federal Court could hear the case.But Justice Catherine Piché said in her June ruling that the appointment of the governor general doesn’t fall within one of the specific circumstances that would require the case be heard by the Federal Court.François Boulianne, the lawyer for the groups challenging Simon’s appointment, says he expects the case to return to court in the fall. Justice pour le Québec, which is taking part in the case, says it will pursue the challenge despite the death in May of its president, Frédéric Bastien, a historian and former Parti Québécois leadership c...

OPP reports 8 deaths, more than 7,700 charges over Civic Day holiday weekend

Published Tue, 25 Feb 2025 17:27:18 GMT

Ontario Provincial Police say eight people died on roads, waterways and trails, over the Civic Day holiday weekend.The eight fatalities mark the highest number of traffic or marine-related deaths to occur over a long weekend this year.Six people who died were involved in road collisions, one person was killed in an off-road vehicle collision and one person was killed in a boating incident.The OPP says it laid more than 7,700 charges as part of its provincial traffic safety campaign, including 4,341 speeding charges, 182 impaired driving charges, and 43 distracted driving charges.The OPP also laid 131 charges against drivers who failed to comply with Ontario’s Move Over Law, which requires drivers to slow down or move over for emergency vehicles or tow trucks that are stopped with sirens or lights flashing. Failing to do so can result in fines of up to $2,000, loss of three demerit points and a possible two-year licence suspension.

Iraq water crisis could have regional consequences, UN human rights chief warns

Published Tue, 25 Feb 2025 17:27:18 GMT

BAGHDAD (AP) — The United Nations’ human rights chief on Wednesday warned that Iraq’s water crisis could affect other countries in the region.Severe water shortages in Iraq because of climate change and government mismanagement have destroyed wheat and fruit harvests, and killed off fish and livestock. Humanitarian organizations have warned for years that drought and mismanagement could deprive millions of people of water from the Euphrates and Tigris Rivers, which also run through neighboring war-torn Syria.U.N. High Commissioner for Human Rights Volker Türk made the comments at a news conference in Baghdad following a four-day visit to the Iraqi capital, the oil-rich southern city of Basra and Irbil in the northern semi-autonomous Kurdish region. Basra, where the mouth of the two rivers meet, has been hit hardest by the water crisis, turning areas once fertile into desert and forcing water purification systems to shut down because of rising salinity.“Just yesterday (Tu...

Swift’s T.O. stops create opportunities, risks for brands tied to show: marketers

Published Tue, 25 Feb 2025 17:27:18 GMT

TORONTO — Companies marketing themselves in connection with Taylor Swift’s future swing through Toronto might see an afterglow that outlives the pop star’s handful of shows in the city.Marketing experts say Swift’s brand and fan base are so strong that Canadian companies which have links to the singer will reap the rewards of her Eras Tour too.Rogers Communications Inc. has been marketing itself as the presenter of Swift’s six nights in Toronto next November, which will see her grace the Rogers Centre stage.Royal Bank of Canada is listed as an official partner of the Canadian stops and will offer an exclusive allocation of tickets to its Avion members.Richard Powers of the Rotman School of Management says being connected to Swift creates a feel-good story for Rogers, which is trying to rebuild goodwill after a massive daylong outage last summer. He says for RBC, Swift creates a chance to reach a younger demographic and expand the Avion membership base beyond ...

Ohio vote shows enduring power of abortion rights at ballot box, giving Democrats a path in 2024

Published Tue, 25 Feb 2025 17:27:18 GMT

CHICAGO (AP) — Abortion wasn’t technically on the ballot in Ohio’s special election. But the overwhelming defeat of a measure that would have made it tougher to enshrine abortion rights in the state constitution this fall was the latest indicator that the issue remains a powerful force at the ballot box.The election saw record turnout for what’s typically a sleepy August election date and sets up another battle in November, when Ohio will be the only state this year to have reproductive rights on the ballot. It also gives hope to Democrats and other abortion rights supporters who say the matter could sway voters their way again in 2024. That’s when it could affect races for president, Congress and statewide offices, and when places such as the battleground of Arizona may put abortion questions on their ballots as well. Democrats described the victory in Ohio, a one-time battleground state that has shifted markedly to the right, as a “major warning sign” for t...