Home

TSX rises despite energy weakness, U.S. stock markets also post gain

Published Sat, 02 Nov 2024 12:16:14 GMT

TORONTO — Broad-based strength led by base metal, financial and tech stocks gave Canada’s main stock index a boost Monday despite weakness in energy, while U.S. stock markets also rose to start the trading week, led by technology names.It was a reprieve from the choppiness of the previous week, where the S&P/TSX composite index lost more than two per cent over the five-day stretch.On Monday, the index ticked up 108.11 points at 20,182.76.In New York, the Dow Jones industrial average was up 87.13 points at 34,663.72. The S&P 500 index was up 29.97 points at 4,487.46, while the Nasdaq composite was up 156.37 points at 13,917.90.Despite the positivity on the markets Monday, it’s wise to be cautious, said Hadiza Djataou, vice-president and portfolio manager of global bonds at Mackenzie Investments. Oil is flirting with US$90 per barrel, and economic data is showing weakness in the economy, particularly in Canada where consumers are feeling the weight of higher interest rat...

NDP wants Suncor CEO to tell MPs why company moving away from focus on clean energy

Published Sat, 02 Nov 2024 12:16:14 GMT

OTTAWA — NDP MP Charlie Angus will ask the natural resources committee to summon the CEO of oilsands giant Suncor when the House of Commons resumes next week.Angus said CEO Rich Kruger has a lot of explaining to over his remarks to investors on a conference call in August.Kruger, who took over as Suncor CEO in April, said the company had a “disproportionate” focus on the longer-term energy transition to low-emitting and renewable fuels. He said it needed to revise its direction toward the immediate financial opportunities in the oilsands.“Today, we win by creating value through our large integrated asset base underpinned by oilsands,” he said on Aug. 15.Last year, before Kruger took over, Suncor sold off its solar and wind power assets, and expanded its fossil fuel assets by purchasing a new oilsands mine.Angus, who is the NDP critic for natural resources, called Kruger’s comments “shocking” and “irresponsible.”“We’ve...

Earthquake robbed Moroccan villagers of almost everything — loves ones, homes and possessions

Published Sat, 02 Nov 2024 12:16:14 GMT

TAFEGHAGHTE, Morocco (AP) — His dead relatives have been dug out and buried, but the remnants of Musa Bouissirfane’s former life are still trapped under rubble and dust in the ruins of the mud-brick Moroccan village of Tafeghaghte.“It’s incredibly challenging to lose your entire family and all your possessions,” Bouissirfane said as tears welled in his eyes in the community less than a two-hour drive from Marrakech. “We have lost everything — our homes, our livestock and all our possessions.”Less than a week ago, he was excited about his daughter starting second grade. Now he’s mourning her death. Far from ambulances and authorities, villagers could not retrieve her body for more than 14 hours, until Saturday afternoon. The earthquake also killed Bouissirfane’s mother and father and a niece. His wife is hospitalized in an intensive care unit.The toll of the massive earthquake that killed more than 2,800 people was on stark display Monday in remote villages such as Tafegh...

Spicy food challenges have a long history. Have they become too extreme?

Published Sat, 02 Nov 2024 12:16:14 GMT

NEW YORK (AP) — A tortilla chip maker’s decision to pull its extremely spicy product sold as a “One Chip Challenge” from store shelves following the death of a Massachusetts teen has renewed attention on the popularity — and risks — of similar dares marketed by brands and spread widely online.Spicy food challenges have been around for years. From local chile pepper eating contests to restaurant walls of fame for those who finished extra hot dishes, people around the world have been daring each other to eat especially fiery foods, with some experts pointing to the internal rush of competition and risk-taking.But extremely spicy products created and marketed solely for the challenges — and possible internet fame — is a more recent phenomenon, and teens are particularly exposed to them because of social media, associate professor of psychology at Florida International University Elisa Trucco says.There’s a “glamorization of these challenges on social media,” Trucco said. “Y...

Grand Canyon hiker dies after trying to walk from rim to rim in a single day

Published Sat, 02 Nov 2024 12:16:14 GMT

GRAND CANYON NATIONAL PARK, Ariz. (AP) — A 55-year-old Virginia man died in the Grand Canyon while trying to hike from the South Rim to the North Rim in a single day, a distance of 21 miles (33.8 kilometers), authorities said Monday.Grand Canyon National Park officials identified the hiker who died Saturday as Ranjith Varma of Manassas. The location where he passed away is toward the end of the South Rim to North Rim trek, which can take 12 to 15 hours to complete.At around 2 p.m. Saturday, the Grand Canyon Regional Communications Center reported receiving an emergency call of a hiker in distress on the North Kaibab Trail, about one mile south of Cottonwood Campground. Varma became unresponsive, and bystanders and rangers both unsuccessfully tried to resuscitate him, park officials said.It wasn’t immediately clear if his death was heat related. An investigation was being conducted by the Park Service and the Coconino County Medical Examiner.The high temperature on Saturday was 87 de...

Israel accuses Iran of building airport in southern Lebanon to launch attacks against Israelis

Published Sat, 02 Nov 2024 12:16:14 GMT

JERUSALEM (AP) — Israel accused Iran on Monday of building an airport in southern Lebanon to be used as a launchpad for attacks against Israelis across the border, signaling a possible escalation in tensions between the regional foes.Speaking at a high-profile security conference hosted by Reichman University near Tel Aviv, Defense Minister Yoav Gallant claimed Iran has been building a runway that slices through forested mountains just 20 kilometers (12 miles) from Israel’s northern border. Gallant displayed satellite photographs that he said showed the site, where the Iranian national flag and the flag of Lebanon’s militant Hezbollah group could be seen. Gallant alleged that Iran “is planning to act against the citizens of Israel,” using the runway as a base. Iran’s mission to the United Nations did not immediately respond to a request for comment. A spokesperson for Hezbollah declined to comment on Israeli accusations. The defense minister did not specify w...

Houston Rockets guard Kevin Porter Jr. charged with assaulting girlfriend at Manhattan hotel

Published Sat, 02 Nov 2024 12:16:14 GMT

NEW YORK (AP) — Houston Rockets guard Kevin Porter Jr. was arrested Monday and charged with assault and strangulation after allegedly attacking his girlfriend at a New York City hotel.Porter, 23, is accused of hitting the woman several times and putting his hands around her neck, police said. The woman, 26, was taken to a hospital with a cut to the right side of her face. The incident happened around 6:45 a.m. at the Millennium Hilton near the United Nations in Manhattan, police said.Porter remained in police custody as of Monday afternoon. It wasn’t immediately known if he had a lawyer who could speak on his behalf. A message seeking comment was left for his agent.In a statement, the Rockets said: “We are in the process of gathering information surrounding the matter involving Kevin Porter Jr. We have no further comment at this time.”Porter, a 2019 first-round draft pick, has played four seasons in the NBA. Last year, as he averaged 19.2 points, 5.3 rebounds and 5.7 assists per gam...

The international Red Cross cuts budget, staffing levels as humanitarian aid dries up

Published Sat, 02 Nov 2024 12:16:14 GMT

GENEVA (AP) — The part of the international Red Cross that deals with conflict and prisoners of war announced Monday it will trim its projected budget by about one-eighth next year and cut nearly 20% of staff at its headquarters.The International Committee of the Red Cross, which among other things has focused on detainees on both sides of Russia’s war in Ukraine, says it will reduce its initial 2024 budget forecast to 2.1 billion Swiss francs (about $2.4 billion). That’s down about 13% compared to its already revised budget for this year.The ICRC is a sister outfit of the International Federation of Red Cross and Red Crescent Societies, which unites national chapters and focuses on disaster relief, health emergencies and other humanitarian aid activities focusing on vulnerable people.Funding for humanitarian aid has dried up considerably.Director-General Robert Mardini said ICRC would need to prioritize its activities and said the United States — its biggest donor — was...

‘Dumb Money’ goes all in on the GameStop stock frenzy – and may come out a winner

Published Sat, 02 Nov 2024 12:16:14 GMT

TORONTO (AP) — Think of movies about the financial system and your mind is almost sure to go to Gordon Gekko and “Wall Street” or Leonardo DiCaprio’s gyrating Jordan Belfort in “The Wolf of Wall Street.”When Hollywood takes on Wall Street, it usually heads straight to the C-suite.The protagonist of “Dumb Money,” though, is an amateur investor who trades out of his basement in Brockton, Massachusetts, with a bandana tied around his head and a Belgian beer in his hand.This is Keith Gill (played in the film by Paul Dano), also known as Roaring Kitty. In 2021, Gill’s enthusiastic endorsement of GameStop stocked helped fuel a viral trading frenzy that rocked Wall Street and humbled the hedge funds that has shorted the brick-and-mortar video game company.Now, Sony Pictures is betting that a David vs. Goliath story that played out on Reddit message boards can be a big-screen attraction, too. Like any investment, it carries some degree of risk.“Dumb Money,” made for about $30 million, is ch...

Police veteran hailed for reform efforts in Washington, California nominated to be New Orleans chief

Published Sat, 02 Nov 2024 12:16:14 GMT

NEW ORLEANS (AP) — New Orleans Mayor LaToya Cantrell said Monday that she has chosen Anne Kirkpatrick, a former chief of police in Spokane, Washington, and Oakland, California, to head the New Orleans Police Department, a nomination subject to the approval of the City Council.Kirkpatrick, if approved, would be the permanent replacement for Shaun Ferguson, who retired from the job last year. The post has been held on an interim basis by Michelle Woodfork, a longtime veteran of the New Orleans department, who had also applied for the job. “With over 35 years of experience in law enforcement, coupled with 20 years of leading police departments of even larger municipalities, Kirkpatrick has proven that she is more than capable and has what it takes to now lead the world-class NOPD,” Cantrell said in a news release. Kirkpatrick’s job history includes six years as chief of police in Spokane. She was tapped to help with police reform efforts in Chicago under then-Mayor Rahm Emm...