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From eggs to electronics to used cars, consumer inflation eased its grip on US households in July

Published Wed, 26 Feb 2025 05:48:57 GMT

WASHINGTON (AP) — Inflation in the United States edged up in July after 12 straight months of declines. But excluding volatile food and energy costs, so-called core inflation matched the smallest monthly rise in nearly two years, a sign that the Federal Reserve’s interest rate hikes have continued to slow price increases.The inflation figure the government reported Thursday showed that overall consumer prices increased 3.2% from a year earlier. That was up from a 3% annual rise in June, which was the lowest rate in more than two years. The latest figure remained far below last year’s peak of 9.1%, though still above the Fed’s 2% inflation target.The Fed, economists and investors, though, pay particular attention to core inflation figures for signs of where inflationary pressures might be headed. From June to July, core inflation remained a tame 0.2%, thanks to easing prices for such items as groceries, used vehicles and electronics.“Core prices are moving in the right directio...

Virgin Galactic takes off with its first tourists on flight to the edge of space

Published Wed, 26 Feb 2025 05:48:57 GMT

TRUTH OR CONSEQUENCES, N.M. (AP) — Virgin Galactic is taking its first space tourists on a long-delayed rocket ship ride, including a former British Olympian who bought his ticket 18 years ago and a mother-daughter duo from the Caribbean.The rocket-powered plane was carried aloft Thursday morning from Spaceport America in the New Mexico desert. The flight plan called for the plane to be released about an hour later and fire its rocket to reach the edge of space.If all goes well, Richard Branson’s company will begin offering monthly trips to customers on its winged space plane, joining Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX in the space tourism business.Virgin Galactic passenger Jon Goodwin, who was among the first to buy a ticket in 2005, said he had faith that he would someday make the trip. The 80-year-old athlete — he competed in canoeing in the 1972 Olympics — has Parkinson’s disease and wants to be an inspiration to others.“I hope it shows them t...

American man charged with fraud in Durham impersonated retired NFL player, police say

Published Wed, 26 Feb 2025 05:48:57 GMT

Police allege an American man defrauded banks in Durham Region while impersonating a retired NFL player. The 34-year-old suspect from Georgia was arrested Wednesday night at Pearson Airport while attempting to fly back to the United States. “Investigators became aware of a male that was attending numerous financial institutions where he would identify himself as a retired NFL player,” police said in a release. “He would open bank accounts with fraudulent cheques and obtain a portion of the money prior to the cheque clearing.”Police say the suspect, Darryl Frank “Buster” Skrine was able to fraudulently obtain over $100,000 in this manner before he was busted. Durham police say they worked in tandem with Homeland Security Investigations, U.S. Customs and Border Protection and Peel Regional Police, to make the arrest. Skrine is facing four counts of fraud over $5000, seven counts of make false statement of procure money, as well as possess property...

Olivia Chow appoints new city hall chairs and vice-chairs of executive committees

Published Wed, 26 Feb 2025 05:48:57 GMT

Mayor Olivia Chow has appointed members of council as chairs and vice-chairs of multiple committees, effective Aug. 10 for a term of office ending on November 14, 2026.The executive committee consists of the mayor, the deputy mayors, the chairs of all standing committees, the chair of the budget committee and one member-at-large who is a member of council.Chow, as the executive committee chair, named Ausma Malik as her first deputy mayor and also vice-chair. Malik was also named chair of the striking committee with councillor Alejandra Bravo named vice-chair.Electing four deputy mayors total, Jennifer McKelvie will continue with the role of deputy mayor in Scarborough, while Amber Morley will represent Etobicoke as their deputy mayor and Mike Colle will represent North York as deputy mayor.Four standing committees were named: economic and community development, general government, infrastructure and environment, and planning and housing.Three special committees were named, consistin...

Canada joins U.S., Britain in sanctioning Lebanese trio accused of embezzlement

Published Wed, 26 Feb 2025 05:48:57 GMT

OTTAWA — Canada is joining peers in leveraging sanctions on a trio of people tied to an alleged embezzlement scandal at Lebanon’s central bank.The sanctions apply to former bank governor Riad Salameh, his brother Raja Salameh and his former assistant Marianne Hoayek.The three stand accused of involvement in allegedly siphoning commissions from the central bank when it bought bonds, without providing any services of value.Prosecutors allege those funds were used to buy luxury properties for the three in multiple European countries.Britain and Washington have also sanctioned Salameh, accusing him of contributing to endemic corruption in Lebanon.The sanctions come as Lebanon is years into an economic crisis, with soaring costs of living and people fleeing for Europe on rickety boats at levels not seen for decades.Last week, Canada joined other Western countries in chastising Lebanese officials for “stalling” on an impartial investigation into the deadly explosion at the Por...

Russia’s military push on the eastern front prompts Ukraine to evacuate thousands of civilians

Published Wed, 26 Feb 2025 05:48:57 GMT

KYIV, Ukraine (AP) — Ukrainian authorities ordered a mandatory evacuation Thursday of nearly 12,000 civilians from 37 towns and villages in the eastern Kharkiv region, where Russian forces reportedly are making a concerted effort to punch through the front line.The local military administration in Kharkiv’s Kupiansk district said residents must comply with the evacuation order or sign a document saying they would stay at their own risk. Ukrainian Deputy Defense Minister Hanna Maliar had said the previous day that “the intensity of combat and enemy shelling is high” in the area.The city of Kupiansk and the territories around it were under Russian occupation until September 2022, when Ukrainian forces conducted a rapid offensive operation that dislodged the Kremlin’s forces from nearly the entire Kharkiv region.The retaking of those areas strengthened Ukraine’s arguments that its troops could deliver more stinging defeats to Russia with additional armament deliveries, which its ...

Bullets hit Lebanese defense minister’s car as he was on the road near Beirut but no one was hurt

Published Wed, 26 Feb 2025 05:48:57 GMT

BEIRUT (AP) — Two bullets hit the car of Lebanon’s caretaker defense minister on Thursday as he was driving in a convoy near Beirut, a senior security official said. No one was hurt.In a brief statement, Defense Minister Maurice Sleem confirmed the shooting, which occurred in the Beirut neighborhood of Hazmieh, but did not provide further details. An investigation was underway to find out if the minister was targeted, a senior Lebanese official said, speaking on condition of anonymity in line with regulations.In a separate development in the nearby suburb of Ghobeiry, a funeral was held Thursday for a member of the militant Hezbollah group killed the previous day when his truck overturned on a mountain road in the Christian town of Kahaleh. The truck was carrying Hezbollah munitions and after it crashed, clashes erupted at the scene. A second person, a resident of Kahaleh, was also killed in the shootout. The man’s family claimed he was an innocent passer-by but a poster erect...

Canadian Tire sees cautious consumer spending drag down profits

Published Wed, 26 Feb 2025 05:48:57 GMT

TORONTO — Canadian Tire Corp. Ltd. said Thursday it is withdrawing its sales growth target due to increasing pressures caused by inflation and higher interest rates as the company reported a drop in earnings and revenue.In the three months ended July 1, the Toronto-based retail giant said net income attributable to shareholders fell 32 per cent to $99.4 million from $145.2 million in the same period a year earlier.The 101-year-old company said revenue in its second quarter fell three per cent to $4.26 billion from $4.40 billion the previous year. Normalized diluted earnings decreased to $3.08 per share from $3.11 per share, roughly in line with analyst expectations, according to financial markets data firm Refinitiv.“As inflation persisted and rate hikes continued, consumer demand for discretionary goods softened, particularly in the latter half of the quarter, and Canadians shifted to more essentials within our multi-category assortment,” said Canadian Tire president and CEO ...

Premier asks Integrity Commissioner to investigate Housing Minister’s Chief of Staff over Greenbelt report

Published Wed, 26 Feb 2025 05:48:57 GMT

Ontario Premier Doug Ford and his office have asked the Integrity Commissioner to investigate the Housing Minister’s Chief of Staff in light of the auditor general’s scathing report on the decision to remove land from the Greenbelt.The Integrity Commissioner confirmed the request to investigate whether the Chief of Staff acted “contrary to the requirements of the Public Service of Ontario Act, 2006, which includes the Conflict of Interest Rules for Public Servants (Ministers’ Offices).”Bonnie Lysyk’s report found the process to choose the sites favoured developers that had ties to the Chief of Staff for Housing Minister Steve Clark.The Housing Minister’s Chief of Staff was appointed by the Premier’s Chief of Staff in July 2022. He was “given the responsibility by the Premier’s Office to direct a project to change the Green­belt’s boundary.” The entire process to unlock portions of the Greenbelt was conducted in three weeks.In her report, the auditor gen...

Highest court refuses to hear appeal from B.C. churches opposed to COVID-19 ruling

Published Wed, 26 Feb 2025 05:48:57 GMT

OTTAWA — The Supreme Court of Canada has refused to hear an appeal from three British Columbia churches that argued their constitutional rights were violated when provincial restrictions banned indoor religious services at the height of the COVID-19 pandemic.The case stems from orders issued by provincial health officer Dr. Bonnie Henry during the second wave of the pandemic more than two years ago.The orders prohibited or regulated specific gatherings and activities, including in-person religious worship, which Riverside Calvary Chapel in Langley, Immanuel Covenant Reformed Church in Abbotsford and the Free Reformed Church of Chilliwack argued were violations of several sections of the Charter.BC Supreme Court Chief Justice Christopher Hinkson ruled in April 2021 that the regulations violated the section of the Charter guaranteeing freedom of expression and freedom of religion.But in a ruling supported by the BC Court of Appeal, Hinkson also found that given the threat posed by COV...