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TD Bank Group reports Q2 profit down from year ago, loan-loss provisions up

Published Tue, 25 Feb 2025 19:04:51 GMT

TORONTO — TD Bank Group reported a second-quarter profit of $3.35 billion, down from $3.81 billion in the same quarter last year as it set aside more money for bad loans.The bank says the profit amounted to $1.72 per diluted share for the quarter ended April 30, down from a profit of $2.07 per diluted share a year earlier.Revenue totalled $12.37 billion, up from $11.26 billion in its second quarter last year.TD says its provisions for credit losses amounted to $599 million, up from $27 million a year ago.On an adjusted basis, TD says it earned $1.94 per diluted share in its latest quarter, down from an adjusted profit of $2.02 per diluted share in the same quarter last year.Analysts on average had expected an adjusted profit of $2.07 per share, according to estimates compiled by financial markets data firm Refinitiv.This report by The Canadian Press was first published May 25, 2023.Companies in this story: (TSX:TD)The Canadian Press

How the end of the COVID health emergency affects your Medicare

Published Tue, 25 Feb 2025 19:04:51 GMT

The COVID-19 public health emergency that started in January 2020 ended on May 11. When that happened, several Medicare rules and waivers that went into effect during the pandemic came to an end — and it may catch Medicare patients by surprise.Many of the changes were made to accommodate the conditions of the COVID-19 pandemic — when hospitals were mobbed, people were encouraged not to leave their homes and patients found themselves getting medical care in unusual places. Some changes — like increased use of telehealth — are sticking around for the near future.Here are a few things Medicare beneficiaries can expect from their benefits post-pandemic.COVID-19 TESTING, TREATMENTS AND VACCINESDuring the public health emergency, or PHE, Medicare and Medicare Advantage covered up to eight at-home COVID tests per month, COVID-19 testing-related services and antiviral treatments like Paxlovid.You’ll now pay out of pocket for at-home COVID-19 tests, although some Medicare Advantage plans may...

Russia signs deal to deploy tactical nuclear weapons in Belarus

Published Tue, 25 Feb 2025 19:04:51 GMT

TALLINN, Estonia (AP) — Russia and Belarus signed a deal on Thursday formalizing the procedure for deploying Russian nuclear weapons on Belarusian territory. Control of the weapons will remain with Moscow.The move formalized the deal agreed on earlier by Russian President Vladimir Putin and Belarusian President Alexander Lukashenko. Putin previously announced in March that his country planned to deploy tactical, comparatively short-range and small-yield nuclear weapons in Belarus. The inking of the deal comes as Russia braces for Ukraine’s much-anticipated counteroffensive.Both Russian and Belarusian officials framed the step as driven by hostility from the West.“Deployment of nonstrategic nuclear weapons is an effective response to the aggressive policy of countries unfriendly to us,” Belarusian Defense Minister Viktor Khrenin said in Minsk during a meeting with his Russian counterpart, Sergei Shoigu.“In the context of an extremely sharp escalation of threats on the western borders...

South Korea launches first commercial-grade satellite, as North Korea plans first spy satellite

Published Tue, 25 Feb 2025 19:04:51 GMT

SEOUL, South Korea (AP) — South Korea launched a commercial-grade satellite for the first time Thursday as part of its growing space development program, as rival North Korea is pushing to place its first military spy satellite into orbit.The two Koreas, technically in a state of war, have no military reconnaissance satellites of their own and both are eager to possess them. The South Korean launch Thursday will likely assist its efforts to develop a space-based surveillance system.The domestically built three-stage Nuri rocket lifted off from a launch facility on a southern island with a payload of eight satellites, including a main commercial-grade satellite whose mission is to verify radar imaging technology and observe cosmic radiation in a near-Earth orbit.South Korean officials planned to announce the results of the launch later Thursday. If successful, it would boost South Korea’s hopes of catching up with Asian neighbors such as China, Japan and India in a regional space rac...

Cyprus making extra efforts to ensure air safety amid Turkish warplane incursions

Published Tue, 25 Feb 2025 19:04:51 GMT

NICOSIA, Cyprus (AP) — Cyprus authorities say they’re take extra efforts to ensure flight safety isn’t compromised from Turkish warplanes and military drones flying inside Cypriot-monitored airspace without filing either flight plans or communicating with air traffic control.The issue over unregulated Turkish military flights again came to the fore earlier this month when Cypriot authorities said a Turkish warplane “illegally” flew low over a United Nations-controlled buffer zone that cuts across the ethnically-divided island nation on what was believed to be a surveillance mission.“Despite these illegal acts by Turkey, and the illegal operation of the self-styled air traffic control by the secessionist entity, the Department of Civil Aviation of Cyprus is doing its utmost to ensure the safe provision of air traffic services within the Nicosia FIR in its entirety,” the Cyprus government told The Associated Press late Wednesday.Despite the International Civil Aviation Authority recog...

RBC reports Q2 profit down as loan-loss provisions rise, raises quarterly dividend

Published Tue, 25 Feb 2025 19:04:51 GMT

TORONTO — Royal Bank of Canada raised its dividend as it reported its second-quarter profit fell compared with a year ago and the amount of money it set aside for bad loans rose.The bank says it will now pay a quarterly dividend of $1.35 per share, up from $1.32 per share.The increased payment to shareholders came as RBC says it earned $3.65 billion or $2.58 per diluted share for the quarter ended April 30, down from $4.25 billion or $2.96 per diluted share in the same quarter last year.Revenue totalled $13.52 billion, up from $11.22 billion in its second quarter last year, while its provisions for credit losses amounted to $600 million compared with a recovery of $342 million a year earlier.On an adjusted basis, RBC says it earned $2.65 per diluted share in its latest quarter, down from an adjusted profit of $2.99 per diluted share in the same quarter last year.The average analyst estimate had been for an adjusted profit of $2.79 per share, according to estimates compiled by financ...

Police arrest gunman who shot and wounded officer in Romeoville

Published Tue, 25 Feb 2025 19:04:51 GMT

ROMEOVILLE, Ill. — Police have arrested the gunman who shot and wounded an officer in Romeoville after an hours-long manhunt. The shooting happened around 12:15 a.m. Thursday near the intersection of Sierra Trail and Summerfield Drive. Police said officers were investigating a stolen vehicle and approached the suspect, who then fled on foot.A foot chase ensued and there was an exchange of gunfire.One officer was shot in the shoulder and was transported to Loyola Hospital. He is expected to recover. Man, 2 teens charged in double shooting on Near South Side last month The suspect was caught and taken into custody around 5:45 a.m. Thursday.No further information has been provided at this time.

Man dead following officer-involved shooting in Des Plaines

Published Tue, 25 Feb 2025 19:04:51 GMT

DES PLAINES, Ill — A man is dead following an officer-involved shooting in Des Plaines.The shooting happened around 7:30 p.m. Wednesday at an apartment complex in the 1400 block of Thacker Street.Police said a 55-year-old man, identified as Scott MacDonald, was suffering some kind of mental heath crisis and potentially had access to an axe or machete.When police arrived to the scene, the situation escalated when an officer unexpectedly encountered MacDonald in the common hallway of the building — and shots were fired.MacDonald was pronounced dead at an area hospital. It is unknown if MacDonald had a weapon when he was shot. Police arrest gunman who shot and wounded officer in Romeoville The officer involved in the shooting has been placed on paid administrative leave.No further details have been provided at this time.

Sky Trek Tower reopening at Six Flags Great America

Published Tue, 25 Feb 2025 19:04:51 GMT

It's one of the first things you see when you get anywhere near Six Flags Great America. Sky Trek Tower stands tall near the entrance of the park. The Intamin Gyro Tower attraction takes guests up 285 feet in the air, slowly rotating and offering incredible views of the park and the entire Lake County area. At a total height of 330 feet, Sky Trek is the tallest free-standing structure in the county. The attraction opened in 1977, just one year after Great America first opened their gates in 1976. For many visitors, Sky Trek became somewhat of a tradition to either kickstart a day at the park and create a game plan of what to do next, or it was their family's final ride after a long day of riding roller coasters. When the COVID-19 pandemic hit and Great America eventually reopened, social distancing rules were still in effect. Unfortunately, the tight quarters inside the Sky Trek ride vehicle meant it couldn't open. It's been sitting empty for the last four years, guests wondering w...

Traveling this summer? Expect big prices and big crowds

Published Tue, 25 Feb 2025 19:04:51 GMT

The unofficial start of the summer travel season is here, with airlines hoping to avoid the chaos of last year and travelers scrounging for ways to save a few bucks on pricey airfares and hotel rooms.Some travelers say they will settle for fewer trips than they hoped to take, or they will drive instead of fly. Others are finding different money-saving sacrifices.Stephanie Hanrahan thought she'd save money by planning ahead for her daughter's birthday trip to Disney World in Florida. Instead, it ended up costing the same as the Dallas-area family's trip for four to California last summer, so now her husband and son are staying home.“We just had to grit our teeth,” said Hanrahan, a writer and speaker who also runs a nonprofit, as she and daughter Campbell waited for their flight last week at Dallas Love Field.The number of people going through U.S. airports hit pandemic-era highs last weekend, and those records are almost certain to be broken over the Memorial Day holiday. Frontier...