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S&P/TSX down as markets continue to grapple with collapse of several banks

Published Wed, 12 Feb 2025 10:26:52 GMT

TORONTO — Canada’s main stock index was down along with international indexes in early trading as the globe continued to grapple with the collapse of several banks over the last week.The S&P/TSX composite index was down 165.55 points at 19,379.42.In New York, the Dow Jones industrial average down 351.46 points at 31,895.09. The S&P 500 index was down 46.65 points at 3,913.63, while the Nasdaq composite was down 79.98 points at 11,637.30.The Canadian dollar was trading for 72.74 cents US, compared with 72.76 cents US on Thursday.The May crude contract was down US$2.23 at US$66.29 per barrel and the April natural gas contract was down 13 cents at US$2.38 per mmBTU.The April gold contract was up US$41 at US$1,964 an ounce and the May copper contract was up two cents at US$3.88 a pound.This report by The Canadian Press was first published March 17, 2023.The Canadian Press

Officer who killed George Floyd pleads guilty in tax case

Published Wed, 12 Feb 2025 10:26:52 GMT

MINNEAPOLIS (AP) — The former Minneapolis police officer serving time for the 2020 murder of George Floyd pleaded guilty Friday to two counts of tax evasion. Derek Chauvin pleaded guilty to aiding and abetting, failing to file tax returns to the state of Minnesota for the years 2016 and 2017.in a Minnesota court before Washington County Judge Sheridan Hawley. Chauvin appeared via Zoom from a federal prison in Tucson, Arizona. He was standing in a room and paced around before the hearing began. Chauvin and his now ex-wife were charged with multiple counts of underreporting their income and failing to file tax returns. His ex-wife pleaded guilty earlier to two counts.“The true reason,” Chauvin told the judge, “is some financial concerns at the time.”Chauvin was previously convicted on state murder charges for the May 2020 killing of Floyd and on a federal count of violating the Black man’s civil rights. Floyd died May 25, 2020, after Chauvin, who is white, pressed his knee again...

Police report three dead in Montreal stabbings, suspect arrested

Published Wed, 12 Feb 2025 10:26:52 GMT

Montreal police say a suspect is under arrest after three people were found stabbed to death this morning inside an east-end Montreal apartment.Const. Julien Lévesque says police received a 911 call at about 9:20 a.m. for a person in need at an address on Bélanger Street, in the city’s Rosemont neighbourhood.Lévesque says officers found three bodies inside bearing marks of violence that appeared to be from a sharp object.Police say the suspect will be questioned by investigators.The police service is calling the three deaths “suspicious.” Montreal police have cordoned off the block for their investigation.This report by The Canadian Press was first published March 17, 2023.The Canadian Press

Cannabis ‘price war’ could cause ‘significant’ damage to industry: HEXO CEO

Published Wed, 12 Feb 2025 10:26:52 GMT

GATINEAU, Que. — Hexo Corp.’s chief executive says he’s seen a “price war” take shape over the last five months that could cause “significant” damage to Canada’s cannabis industry.Charlie Bowman says there are many smaller and independent pot retailers that are “bleeding” because of the higher number of rivals and their tendency to undercut one another.He says the industry’s pricing troubles have been compounded by the illicit market, which Bowman noticed had “fantastic” growth this year, challenging licensed cannabis producers.Bowman is hopeful the Ontario Cannabis Store’s plan to reduce its margin and markups later this year will help licensed producers chisel away at the illicit market.The provincial pot distributor’s move is expected to put $35 million back in the hands of licensed pot companies this fiscal year and $60-million in the 2024 fiscal year. By the OCS’s count, the illicit market...

Deputy commissioner Mike Duheme to becomes interim top Mountie as Lucki retires

Published Wed, 12 Feb 2025 10:26:52 GMT

OTTAWA — The federal government says Mike Duheme will be the interim commissioner of the RCMP, until a replacement is found for Brenda Lucki.Lucki, who was appointed commissioner in April 2018, is retiring as of today. Her tenure as the top Mountie has been marked by internal and external challenges, including allegations of systemic racism within the force, growing calls to defund the police, and the devastating mass shooting in Nova Scotia in 2020.Public Safety Minister Marco Mendicino says Duheme, who currently oversees federal policing for the Mounties, will take over the job on Saturday. Duheme was among the RCMP officials to testify during last fall’s Public Order Emergency Commission into the federal government’s decision to use the Emergencies Act during the “Freedom Convoy” protests. Mendicino says details of the process to find a permanent commissioner will be announced in due course.This report by The Canadian Press was first published March 17, 20...

Jamaican government to increase minimum wage by 44%

Published Wed, 12 Feb 2025 10:26:52 GMT

SAN JUAN, Puerto Rico (AP) — Jamaican Prime Minister Andrew Holness says his government plans to increase the island’s minimum wage by 44% as the local economy rebounds.The change will go into effect in June. People making the minimum wage of $59 for a 40-hour workweek would instead earn $85.Holness announced the plan Thursday evening during his budget presentation in Parliament, to the cheers of government supporters. He added that the increase is the biggest in 20 years.The announcement came just days after the government increased teachers’ wages following a nearly weeklong protest that disrupted public schools.Jamaica’s economy was hit by the pandemic, the war in Ukraine and a drop in tourism, but it has since recovered substantially, according to a February report by the International Monetary Fund.Annual inflation in Jamaica ranged as high as 11% over the past two fiscal years but is projected to decline to about 5% in the coming fiscal year starting next month, the report sai...

Feds want justices to end Navajo fight for Colo. River water

Published Wed, 12 Feb 2025 10:26:52 GMT

States that rely on water from the over-tapped Colorado River want the U.S. Supreme Court to block a lawsuit from the Navajo Nation that could upend how water is shared in the Western U.S. The tribe doesn’t have enough water and says that the federal government is at fault. Roughly a third of residents on the vast Navajo Nation don’t have running water in their homes. More than 150 years ago, the U.S. government and the tribe signed treaties that promised the tribe a “permanent home” — a promise the Navajo Nation says includes a sufficient supply of water. The tribe says the government broke its promise to ensure the tribe has enough water and that people are suffering as a result.The federal government disputes that claim. And states, such as Arizona, California and Nevada, argue that more water for the Navajo Nation would cut into already scarce supplies for cities, agriculture and business growth.The high court will hold oral arguments Monday in a case with critical implica...

Gov. Pritzker continues community college tour with Chicago stop to promote proposed budget

Published Wed, 12 Feb 2025 10:26:52 GMT

CHICAGO — Illinois Governor JB Pritzker brought his community college tour to Chicago Friday to continue promoting proposed higher education investments.The governor has been making stops across the state in recent weeks to try and garner support for his fiscal year 2024 budget. In addition to higher education, his proposed budget includes the Smart Start Illinois plan to support early childhood education and universal preschool. WGN Sports brought Michael Jordan and the ’90s Bulls to Chicago — and beyond His Friday event was held at Malcolm X Community College, part of City Colleges of Chicago.

Zion man wanted after infant, woman killed in marijuana-related crash last year

Published Wed, 12 Feb 2025 10:26:52 GMT

UNINCORPORATED WAUKEGAN, Ill. — A warrant is out for the arrest of a man charged with reckless homicide in a marijuana-related crash, after a baby and woman were killed in Unincorporated Waukegan in October. According to police, Jarelle Brown, 28, of Zion will be facing two counts of reckless homicide and two counts of driving under the influence of cannabis. 24-year-old man’s body recovered from Chicago River on North Side On October 29 around 4:15 p.m. police were dispatched to a crash on North Green Bay Road near Atlantic Avenue where two vehicles were found damaged. A Toyota, driven by a 34-year-old man, was leaving a parking lot when the vehicle was "T-Boned" by a Dodge travelling northbound. Driver wanted after woman critically injured in South Side hit-and-run Police reports say an eight-month-old baby restrained in the back seat of the Toyota was transferred to Advocate Condell Medical Center in critical condition. He was later pronounced dead. A 29-year-old woman sitt...

Biden cabinet member discusses Chicago gun violence, mental health

Published Wed, 12 Feb 2025 10:26:52 GMT

CHICAGO — U.S. Health and Human Services (HHS) Secretary Xavier Becerra is in Chicago Friday to focus on mental health and gun violence in the area.Becerra will join a community roundtable at Kennedy-King College alongside U.S. Rep. Jonathan Jackson (D-IL-01) and U.S. Sen. Dick Durbin (D-IL). The trio will then hold a media availability following the roundtable discussion. AG: Illinois lottery employee stole, redeemed winning tickets WGN plans to livestream the media availability within this story beginning at approximately 11:45 a.m.