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S&P/TSX composite falls more than 200 points led by energy, U.S. markets also slide

Published Wed, 26 Feb 2025 09:10:49 GMT

TORONTO — Canada’s main stock index was down more than 200 points Tuesday with broad-based losses led by energy, while U.S. markets also fell. “We’re now entering the heart of earnings season,” said Angelo Kourkafas, an investment strategist at Edward Jones, adding that Canadian earnings also start ramping up this week.The S&P/TSX composite index was down 236.87 points at 20,439.87, with the TSX energy index down more than two per cent. In New York, the Dow Jones industrial average was down 344.57 points at 33,530.83.The S&P 500 index was down 65.41 points at 4,071.63,while the Nasdaq composite was down 238.04 points, or almost two per cent, at 11,799.16.Tuesday’s swing comes after a long stretch of unusually low volatility as investors anticipated an avalanche of earnings, said Kourkafas. Results have been mixed so far, he said.“I think the theme of a slowdown is emerging.” Investors were more defensive Tuesday, said Kourkafas, with bond yields moving lower. “I think ...

NFL draft a boon for cities, teams since it hit the road

Published Wed, 26 Feb 2025 09:10:49 GMT

Once a fixture at Radio City Music Hall, the NFL draft has been an even bigger hit since it took to the road. When NFL Commissioner Roger Goodell steps to the podium on the giant stage in front of Union Station in Kansas City, Missouri, and announces the No. 1 pick on Thursday night, it’ll be ninth draft since it left New York — and it’s becoming a major boon for the league, teams and host cities.“It’s the second-biggest thing that we do and it’s smack dab in the heart of our ‘offseason.’ There is no offseason,” said Peter O’Reilly, the NFL’s executive vice president, club business, major events and international. “And that’s a testament to our fans and they’re the ones who made the draft so much bigger and more special.” The NFL draft was in New York from 1965 to 2014. Radio City Music Hall, which hosted the draft nine times, saw the Rockettes’ spring spectacular push the NFL draft into May in 2014. The league decided it wouldn’t be kicked around again...

Canadian flight attendants rally against unpaid work

Published Wed, 26 Feb 2025 09:10:49 GMT

Flight attendants across Canada took part in a national day of action on Tuesday, to demand what they say is a no-brainer — that when they’re at work, they should be getting paid.Unlike most other professions, flight attendants do not get paid when they start their shifts, but rather only from when the plane pushes off from the gate and is in the air until it lands at its destination.The union representing flight attendants says they work the equivalent of almost one week per month without pay.“So when we report for work, say eight o’clock in the morning is my report time — I’m doing a pre-flight briefing. I’m doing all of my safety checks, my catering, I’m not paid for that. When we’re down station and passengers are deplaning, we’re not paid for that as well. If there’s a medical and we have to stay on board to assist, we’re not paid for that either,” explains Rena Kisfalvi, a flight attendant and presid...

Texas man involved in online romance scams gets 3 years

Published Wed, 26 Feb 2025 09:10:49 GMT

PROVIDENCE, R.I. (AP) — A Texas man was sentenced on Tuesday to more than three years in prison for his role in an online romance scam in which the identities and images of real U.S. military generals were used to cheat victims from across the nation out of a total of $1.5 million, federal prosecutors said.In addition to three years and a month behind bars, Fola Alabi, 52, of Richmond, Texas, was also sentenced in U.S. District Court in Rhode Island to three years of probation, ordered to pay full restitution and forfeit his home valued at $560,000, according to a statement from the U.S. attorney’s office.The victims were often women in their 70s and 80s and either widowed or divorced, according to court documents.In one case, a widow from Rhode Island was contacted by a member of the conspiracy claiming to be a “General Miller,” who convinced the woman to hand over $60,000 to help pay for the shipment of his personal belongings to the U.S., prosecutors said.A check from the v...

New Washington gun law already faces federal court challenge

Published Wed, 26 Feb 2025 09:10:49 GMT

OLYMPIA Wash. (AP) — Washington Gov. Jay Inslee signed a trio of bills meant to address gun violence Tuesday, one banning the sale of certain semi-automatic rifles, one imposing a 10-day waiting period on firearms purchases, and one clearing the way for lawsuits against gun makers or sellers in certain cases.A crowd of gun-control activists and Democratic lawmakers broke into cheers as Inslee signed the measures, which he said would not solve all gun violence but would save lives.“Just because they don’t solve all the problems does not mean the state of Washington does not take action,” Inslee said. “Inaction against gun violence is unacceptable.”White House press secretary Karine Jean-Pierre praised state officials for passing the ban on selling specific semi-automatic weapons. President Joe Biden, who has been pushing for additional gun control measures, “commends the leadership of Washington Governor Jay Inslee and legislative leaders as well as the advocates, survivors and...

Protesting N.L. crab fishers watch from shore as Maritime fishers head out to harvest

Published Wed, 26 Feb 2025 09:10:49 GMT

ST. JOHN’S, N.L. — As a standoff between crab fishers and processors enters its third week in Newfoundland and Labrador, all eyes are on Maritime fishers who have begun their annual harvest.Fishers in Canada’s easternmost province have refused to harvest snow crab since the season began on April 10. They say they can’t make a living off this year’s price of $2.20 per pound – a precipitous drop from last year’s opening price of $7.60 per pound.But in the southern Gulf of St. Lawrence, the crab fishery is in full swing. The catch from Maritime fishers could push up prices, according to the Fish, Food and Allied Workers Union, which represents inshore harvesters in Newfoundland and Labrador.“With fresh crab starting to enter the market from the gulf, it’s possible we may (see) an upswing in market prices,” said FFAW president Greg Pretty in a news release Monday night.Crab is a lucrative species for Atlantic Canada, and it was Canada’s second-largest...

EU farm chief: Bloc close to ending Ukraine import standoff

Published Wed, 26 Feb 2025 09:10:49 GMT

BRUSSELS (AP) — The European Union’s top farm official said Tuesday that the bloc was on the cusp of ending a damaging internal standoff over a destabilizing glut of Ukraine farm imports by granting five eastern member states the right to temporarily ban the most contentious produce. Resolving the issue quickly would allow the EU to maintain a unified stance in the face of Russia’s invasion of its neighbor.EU Agriculture Commissioner Janusz Wojciechowski said after daylong talks among the 27 farm ministers that the EU is close to allowing Poland, Hungary, Slovakia, Bulgaria and Romania a temporary import ban on five farm products that make up the overwhelming mass of exports from Ukraine that have flooded their markets during the war. “I can see that everything shows that this decision will be approved by the member states, by the (European) Council in the spirit of solidarity,” Wojciechowski said. ”We are very close to the final agreement,” he added without elaborating ...

Cities with the worst commute in Illinois

Published Wed, 26 Feb 2025 09:10:49 GMT

When the COVID-19 pandemic made millions of Americans remote workers, it also abruptly ended many of the commutes that bookend the workday. As some of those workers return to the office, conversations around the drawbacks of commutes have become more intense. For a while, those workers enjoyed more time in the morning and evening that wasn't spent simply traveling to and from work—an unpaid portion of the day that ate up time and energy. And it's not a small amount of time, either: Pre-pandemic, the average commute in the U.S. was a hair over 27 minutes one way, according to Census Bureau data. It was a record high. Cumulatively, 27 minutes each way translates to 54 minutes a day, or four-and-a-half hours per week. That's 18 hours a month and 216 hours a year spent commuting.Those who commute know it's not particularly idyllic. While a very small portion of workers live in the ideal scenario—a short, walkable distance from the office, along a sidewalk that is presumably regularly sh...

Rosati’s Pizza franchisees to pay $250K in back wages, damages to employees

Published Wed, 26 Feb 2025 09:10:49 GMT

CHICAGO -- Six Rosati's Pizza franchisees must pay $250,000 in back wages and damages to restaurant and delivery employees who never received their overtime pay.According to the U.S. Department of Labor, a federal court has required the operators of six Rosati's Pizza franchise location in Illinois and Indiana to pay $250,000 in back wages and damages in an effort to recover unpaid overtime wages for 35 restaurant and delivery employees. Illinois’ 10 most popular baby names revealed On Wednesday, April 19, a federal judge ordered Kalpesh Patel and Ketan “Kevin” Limbachiva, who own Rosati’s Pizza locations ­in Bloomingdale, Matteson, Plainfield and Richmond, Illinois; and Dyer, Indiana, to pay the back wages and damages owed in three payments.Investigators found the Patel and Limbachiva misclassified delivery drivers as independent contractors, even though store management controlled their hours and assigned tasks.They also determined Patel and Limbachiva failed to pay some workers...

For Flatley, Sikora Chicago Golden Gloves led to success beyond ring

Published Wed, 26 Feb 2025 09:10:49 GMT

CHICAGO (AP) — Long before he created “Riverdance” and “Lord of the Dance” and performed before millions of people worldwide, Michael Flatley thought he might make a living dancing around the ring.Actor Joseph Sikora knew he wasn't destined for a career in boxing. But he and Flatley have a few things in common when it comes to the sweet science.Both credit lessons they learned from boxing for their success in the entertainment world and consider competing in the Chicago Golden Gloves a key part of their development. The two were among the seven “Titans” who were honored April 13 for their success outside of boxing as part of the event's 100th anniversary celebration. A Century of Champions: The 100th anniversary of Chicago’s Golden Gloves “It taught me the value of hard work, determination, perseverance, preparation,” Flatley said. “Good qualities, because there's no one in that ring except you. Your trainer's not there. Your mates aren't in there. Once that bell rings, you're on ...