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Bank of Canada raises rate to 5%: What we learned about inflation and the economy

Published Wed, 26 Feb 2025 04:42:14 GMT

OTTAWA — The Bank of Canada hiked its key interest rate on Wednesday, by 0.25 of a percentage point to five per cent. Governor Tiff Macklem says inflationary pressures aren’t easing as quickly as the central bank wants, and more rate hikes could be coming if the economic data supports it.Here’s what we learned from the Bank of Canada’s decision and monetary policy report, and remarks from Macklem and senior deputy governor Carolyn Rogers as they spoke to reporters after the announcement. Recession likely not in the cardsThe Bank of Canada doesn’t expect a recession, despite the squeeze higher rates are putting on the economy, Macklem said. The central bank expects economic growth to average around one per cent for the next year before picking up after that.“We need a period of growth below trend, below potential, to let supply catch up with demand. That’s what’s going to relieve those price pressures,” Macklem said. “But we do think that there’s a path back to pric...

Ja Morant’s lawyers cite ‘stand your ground’ law, self defense in pickup basketball lawsuit

Published Wed, 26 Feb 2025 04:42:14 GMT

MEMPHIS, Tenn. (AP) — The future of a lawsuit accusing Memphis Grizzlies star Ja Morant of assaulting a teenager during a pickup basketball game hinges on whether Morant will be allowed to say that he was acting in self defense and can receive immunity under Tennessee law.A judge on Wednesday ruled that Morant’s lawyers can proceed for now with their argument that Morant was acting in self defense when he punched Joshua Holloway during a game at the All-Star player’s Memphis-area home in July 2022.Morant’s lawyers have acknowledged he punched Holloway one time after Holloway threw a basketball at Morant and the ball hit Morant in the chin. In a July 26 motion, the player’s lawyers said he should be immune from liability under the state’s “stand your ground” law, which allows people who feel threatened at their homes to act with force in certain situations.Circuit Court Judge Carol Chumney said the next step would be to hear from lawyers in the case, including...

Roadway bombs planted by drug cartel kill 6 law enforcement officers in Mexico, officials say

Published Wed, 26 Feb 2025 04:42:14 GMT

MEXICO CITY (AP) — A coordinated series of roadway bomb blasts in western Mexico that officials said were a trap organized by a drug cartel killed six police officers and prosecutors’ agents, the latest example of the increasingly open, military-style challenge posed by the country’s drug cartels.The governor of Jalisco state said the blasts late Tuesday in Tlajomulco, a city near the state capital, Guadalajara, were set up by an anonymous caller who gave a volunteer search group a tip about a supposed clandestine burial site near the roadway. The bombs also wounded 12 people.For years, police have been unable to locate the more than 110,000 missing people in Mexico, but they accompany volunteer search groups that look for such hidden graves. The volunteers, usually the mothers of missing people, often get anonymous tips about where their relatives may be buried.Jalisco Gov. Enrique Alfaro said a total of eight “improvised explosive devices” were planted on the roadway, seven ...

Milan Kundera, renowned but reclusive Czech writer and former dissident, dies in Paris at 94

Published Wed, 26 Feb 2025 04:42:14 GMT

PARIS (AP) — Milan Kundera, the renowned but reclusive author whose dissident writings transformed him into an exiled satirist of totalitarianism and explorer of identity and the human condition, has died in Paris. He was 94. Kundera died Tuesday afternoon, his long-standing publishing house Gallimard said in a one-sentence statement on Wednesday. It confirmed that he died in Paris, where he has lived for decades, but provided no further information.The European Parliament held a moment of silence upon news of his passing. Kundera held both French and Czech nationality, which he lost and then regained.Kundera was a man of few words whose novels were translated into dozens of languages, but he abhorred the publicity that came with it, refusing interviews.“I dream of a world where writers are obliged by law to keep their identity secret and use pseudonyms,” he wrote in the 1986 essay, “The Art of the Novel.” Kundera used the sentence to respond to questions put to him in 2011 by Le Mo...

Actors Martin Short, Lamar Johnson and Luke Kirby among Canadian Emmy nominees

Published Wed, 26 Feb 2025 04:42:14 GMT

Actors Martin Short, Luke Kirby and Lamar Johnson are among the Canadian actors heading to this year’s Emmy Awards. Hamilton-born Short is nominated again for his leading role in the murder-mystery comedy “Only Murders in the Building.” The Emmys veteran also scored a nod for the same role as an eccentric theatre director last year.Meanwhile, Ontario-raised Kirby landed a guest actor nomination in a comedy series for his role as Lenny Bruce in “The Marvelous Mrs. Maisel.” Rising Toronto star Johnson is recognized for his guest appearance as an outlaw in the dystopian drama “The Last of Us.” Among the other notable Canadian nominees are composer Cristobal Tapia de Veer for the catchy opening tune of “The White Lotus” titled  “In The Sandbox” and reality star Antoni Porowski, who is one of the fab five hosts of makeover series “Queer Eye.”The annual TV awards celebrate their 75th anniversary this year, and winners will be announced...

Calgary company inks deal with Adidas to produce C02-embedded running shoes

Published Wed, 26 Feb 2025 04:42:14 GMT

CALGARY — A Calgary-based technology company has signed a deal with Adidas that will see the sneaker giant manufacture some of its shoes using ink embedded with captured carbon emissions.The partnership is a major win for Oco, the consumer-facing offshoot of Carbon Upcycling Technologies, a company that specializes in carbon capture and utilization solutions for heavy industry sectors.Currently focused on the cement industry, Carbon Upcycling uses patented technology installed at Enmax’s Shepard Energy Centre east of Calgary to capture carbon dioxide emissions produced by Alberta’s largest natural gas-fired power generating facility and sequester them in industrial byproducts for use in concrete production.But the company also aims to engage the public with products that help people see the potential of carbon capture technology.Oco takes the solid powder created from its parent company’s carbon sequestration process and markets it to brands looking to improve thei...

Public health agency investigates after Air France passenger sat in blood soaked area

Published Wed, 26 Feb 2025 04:42:14 GMT

Canada’s public health agency has opened an investigation after a passenger on an Air France flight from Paris to Toronto says he sat amid the uncleaned remnants of a previous passenger’s hemorrhage.The Public Health Agency of Canada says it is aware of the incident on the June 30 flight and cited its mandate to ensure that anything brought into the country on a conveyance does not threaten public health.Passenger Habib Battah told The Canadian Press that after boarding the eight-hour flight he smelt a strong manure-like odor and noticed a large stain on the floor in front of his seat.Battah says he alerted the cabin crew about the stain and was then given cleaning supplies in response.He says that after wiping the floor beneath his seat, the cloth came out “blood red.”He says cabin crew later told him that someone suffered a hemorrhage in his seat on a previous flight and that he could not change seats as the flight was full – they instead gave him mor...

Ukraine wins G7 security pledges but its NATO membership remains elusive

Published Wed, 26 Feb 2025 04:42:14 GMT

VILNIUS, Lithuania (AP) — Ukrainian President Volodymyr Zelenskyy welcomed fresh pledges of weapons and ammunition to fight Russia’s invasion along with longer-term security commitments from the West on Wednesday even as he expressed disappointment over the lack of a clear path for his country to join NATO as the alliance wrapped up its annual summit.“The Ukrainian delegation is bringing home a significant security victory for the Ukraine, for our country, for our people, for our children,” he said while flanked by U.S. President Joe Biden and other leaders from the Group of Seven most powerful democratic nations.A joint declaration issued by the G7 lays the groundwork for each nation to negotiate agreements to help Ukraine bolster its military over the long term. Zelenskyy described the initiative as a bridge toward eventual NATO membership and a deterrent against Russia. Biden said, “Our support will last long into the future. We’re going to help Ukraine build a strong...

10-month-old picked as 2023 Gerber Baby

Published Wed, 26 Feb 2025 04:42:14 GMT

DENVER (KDVR) — Gerber announced the winner of its annual Gerber Baby photo search, and the 2023 winner is a 10-month-old from Colorado.Madison "Maddie" Mendoza is the winner of the 13th annual Gerber photo search. Gerber said Maddie, along with her parents, captured the attention of the judges with a throwback submission that included a photo of Maddie and her mom at that same age.The 2023 Gerber Baby comes from Colorado after submitting a throwback photo. On the left is Maddie, the 2023 winner, and on the right is Maddie's mom when she was her age. (Gerber)“The throwback submission of Maddie and her mom brought a smile to the judges’ faces and perfectly captured the spirit of this year’s program. We’re excited to partner with Maddie and her family throughout the next year to highlight the full-circle journey from baby to parent," said Tarun Malkani, Gerber president and CEO.According to Maddie's parents, she is 10 months old and came into the world with a full head of hair. She en...

City of Austin suspends partnership with Texas Department of Public Safety

Published Wed, 26 Feb 2025 04:42:14 GMT

Editor’s Note: The video above shows KXAN News Today’s top headlines for July 12, 2023AUSTIN (KXAN) – Austin Interim City Manager Jesús Garza announced Wednesday that he has suspended the City's partnership with the Texas Department of Public Safety with the approval of Mayor Kirk Watson. “From the start of this partnership with DPS, I said I wanted Austinites to feel safe and be safe. Recent events demonstrate we need to suspend the partnership with DPS. The safety of our community is a primary function of City government, and we must keep trying to get it right,” Watson said. MORE: Mayor Kirk Watson discusses DPS partnership, accountability Watson didn't specify to which recent events he referred. On Monday, a DPS trooper was involved in a chase and shot a suspect in the arm.“This partnership was an innovative approach to address acute staffing shortages that were years in the making. However, any approach must be in sync with Austin values," he continued. The partnership w...