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National Bank Q3 results show financial markets pressure, rising bad loan provisions

Published Tue, 25 Feb 2025 20:38:33 GMT

National Bank of Canada reported a notable drop in performance in its financial markets division in the last quarter as it also boosted provisions for bad loans in preparation of a potential economic slowdown ahead.“We continue to operate in a challenging environment,” said chief executive Laurent Ferreira on an analyst call Wednesday.“The Canadian economy has yet to absorb the full impacts of rate hikes since the start of monetary policy tightening, resulting in lingering uncertainty.”He said the bank had solid earnings, but saw a “less constructive backdrop” in its financial markets segment. The division had earnings of $205 million in its latest quarter, down from $279 million in the third quarter of 2022, which the bank blamed on lower trading activity and exceptionally low market volatility.Overall, the Montreal-based bank reported a net income of $839 million or $2.36 per diluted share for the quarter ended July 31, up from $826 million or $2.35 p...

Abortion anecdote from DeSantis at GOP debate is more complex than he made it sound

Published Tue, 25 Feb 2025 20:38:33 GMT

MIAMI (AP) — When Florida Gov. Ron DeSantis was asked during last week’s GOP presidential debate whether he would support nationwide abortion restrictions, he instead offered a startling anecdote.“I know a lady in Florida named Penny,” he said. “She survived multiple abortion attempts. She was left discarded in a pan. Fortunately, her grandmother saved her and brought her to a different hospital.”He offered no other details and the debate moderators moved on. But according to news reports, doctors who reviewed her case and an interview with the woman, the story is far more complicated than DeSantis made it sound.It dates to 1955, a vastly different time both medically and socially. Abortion was largely illegal, including in Florida, contraception options were few and babies born at an extremely early gestational age were not expected to survive. Anti-abortion groups often use stories like this to argue against abortion. DeSantis also has frequently criticized abortions later in preg...

Soldiers in Gabon say they’ve seized power and appointed the republican guard chief as head of state

Published Tue, 25 Feb 2025 20:38:33 GMT

LIBREVILLE, Gabon (AP) — Mutinous soldiers in Gabon announced late Wednesday that the head of the country’s elite republican guard would lead the Central African country, hours after saying they had placed the country’s newly re-elected president under house arrest.The coup leaders said in an announcement on Gabon’s state TV that Gen. Brice Clotaire Oligui Nguema had been “unanimously” designated president of a transitional committee to lead the country.Oligui is the cousin of President Ali Bongo Ondimba, who earlier Wednesday had been declared the winner of the country’s presidential election in a victory that appeared to extend his family’s 55-year rule in the oil-rich nation.In a video apparently from detention in his residence, Bongo called on people to “make noise” to support him. But the crowds who took to the streets of the capital instead celebrated the coup against a dynasty accused of getting rich on the country’s resource wealth while many of its citizens struggle.“Thank ...

Four companies inch closer to realizing wind, hydrogen plans in Newfoundland

Published Tue, 25 Feb 2025 20:38:33 GMT

ST. JOHN’S, N.L. — Four companies are one step closer to building wind-powered hydrogen and ammonia plants on the blustery island of Newfoundland.The province announced today it has chosen four proposals from an initial pool of 24, and asked the companies to formally apply for the Crown land needed to realize the projects.The successful bidders include the Newfoundland and Labrador arm of EverWind Fuels, based in Nova Scotia, and World Energy GH2, a company whose directors include seafood billionaire John Risley and Brendan Paddick, a close friend of Premier Andrew Furey.Energy Minister Andrew Parsons assured reporters today that political ties played no role in the process used to evaluate and select the successful projects.He notes that the team assigned to analyze the proposals included an independent fairness adviser, as well as a third-party financial analyst and representatives from the Department of Indigenous Affairs and Reconciliation.The government launched its call ...

Critical fire weather arrives in Northern California’s interior; PG&E cuts power to 8,400 customers

Published Tue, 25 Feb 2025 20:38:33 GMT

SAN FRANCISCO (AP) — Gusty winds and low humidity brought high risk of wildfires to the interior of Northern California on Wednesday and a utility proactively cut electricity to approximately 8,400 customers to prevent potential ignitions in the blustery conditions.Red flag warnings for critical fire danger were to remain in effect until 8 p.m. in much of the Sacramento Valley and adjacent areas to the west, the National Weather Service said.Pacific Gas & Electric said that shortly before 2 a.m., it began public safety power shutoffs in small portions of eight counties.Customers in the “targeted high-fire-threat areas” were notified in advance Tuesday, the utility said in a statement.The gusty northerly winds were generated in the wake of a trough of low pressure that moved through Northern California on Tuesday, the weather service said.Public safety power shutoffs are intended to prevent fires from starting when power lines are downed by winds or struck by falling trees or win...

McConnell freezes for 2nd time while taking questions

Published Tue, 25 Feb 2025 20:38:33 GMT

Senate Minority Leader Mitch McConnell (R-Ky.) appeared to freeze up at the podium while taking questions in Kentucky on Wednesday, the second time in recent weeks that he paused while talking to reporters.During a gaggle in Covington, Ky., a reporter asked McConnell, 81, for his thoughts about running for reelection in 2026. The Senate GOP leader twice asked the reporter to repeat the question, then responded “that’s a,” before freezing and looking ahead for roughly 30 seconds, according to a video posted on X by MSNBC.At one point during the freeze-up, an aide walked up to McConnell and asked “did you hear the question, senator, running for reelection in 2026?” To which McConnell replied with a word that was inaudible.“Alright, I’m sorry you all, we’re gonna need a minute,” the aide said.After the roughly 30 seconds of unresponsiveness passed, McConnell said “okay,” and his aide resumed the gaggle, asking reporters to “please speak up.”A spokesperson for McConnell said the GOP lea...

Notre Dame will make history in 2 ways Saturday

Published Tue, 25 Feb 2025 20:38:33 GMT

SOUTH BEND, Ind. — It was already a unique opening week for Marcus Freeman's team, and now the second week is going to bring some history for the program. That's because of their opponent, who is coming to South Bend for a football game for the first time. The Fighting Irish will host Tennessee State University at 2:30 p.m. central time after they defeated Navy 42-3 in their season opener at Aviva Stadium in Dublin, their first game in Ireland since 2012. Notre Dame's home opener is significant for two reasons: The Tigers will not only be the first Football Championship Subdivision (FCS) team the Irish have ever faced but also the first Historically Black College and University (HBCU) program they've played in football. It's a match-up that was set in April 2022 and will be the season opener for Tennessee State, which is under the leadership of third-year head coach Eddie George, a former Heisman Trophy winner and four-time NFL Pro Bowl running back."I'm truly, and we'll make sure t...

State, local leaders pushing to expand work permits for migrants

Published Tue, 25 Feb 2025 20:38:33 GMT

CHICAGO — Governor JB Pritzker, Mayor Brandon Johnson and business groups discussed work permits Wednesday, as migrants pack some Chicago police stations.State and local leaders along with members of the local workforce are calling on federal government to provide legal authorization to work for people currently in Illinois, calling it a major steppingstone to self-sufficiency and self-determination.Officials are asking Homeland Security to allow the state to sponsor asylum-seekers through the Significant Public Benefit designation.They point at a dire need for workers in industries like food processing, clean energy, health care, transportation, warehouses and more. Adding that legal authorization to work for new arrivals are needed in order to avoid labor exploitation through trafficking and wage theft.This announcement comes days after Mayor Johnson and Gov. Pritzker sent a joint letter to Secretary of Homeland Security Alejandro Mayorkas, advocating for workforce expansion which...

Convicted rapist who escaped on jet ski in 2022 is arrested in West Virginia

Published Tue, 25 Feb 2025 20:38:33 GMT

LEWISBURG, W.Va. (WOWK) - An escaped inmate from Arkansas who has been on the run for the last year has been arrested in West Virginia along with three other people.According to U.S. Marshals, the inmate, identified as Samuel Paul Hartman, 39, escaped from a work detail near the East Arkansas Regional Unit on Aug. 12, 2022. He was sentenced to life in prison in 2013 after being convicted of raping a 14-year-old.U.S. Marshals say a vehicle approached the work crew while Hartman was on work detail last August. Two women got out of the vehicle and allegedly fired shots at the work crew while Hartman ran toward the vehicle. The women were later identified as Hartman's wife, Misty Hartman, 39, and Hartman's mother, Linda Annette White, 61.The vehicle then fled while Department of Corrections officers pursued. DOC officers say they followed the vehicle almost to the Mississippi River, where the Hartmans and White ran toward waiting jet skis. Authorities later found the jet skis abandoned ...

As Hurricane Idalia moves inward, another storm brews off East Coast

Published Tue, 25 Feb 2025 20:38:33 GMT

(The Hill) -- As Hurricane Idalia passed through Florida on its way to Georgia on Wednesday, the National Hurricane Center (NHC) warned Americans about another storm looming in the Atlantic. “Though many eyes remain on the dangers #Idalia is bringing to the southeast, distant storm Hurricane #Franklin continues to stir up the western Atlantic, creating potentially deadly surf and rip currents along the US East Coast,” the NHC posted on X, the platform formerly known as Twitter.  Hurricane Idalia drenches Florida, Georgia; DeSantis says no fatalities confirmed: live updates Franklin, currently a Category 2 storm, isn’t currently projected to hit the U.S. However, in a public advisory Wednesday, the NHC warned of “dangerous surf and rip currents” adjacent to “the Eastern Seaboard.”“Life-threatening surf and rip currents generated by Franklin are affecting Bermuda and the east coast of the United States,” the NHC said in the advisory. “These conditions are expected to con...