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The S&P 500 Index closed slightly lower on Monday after erasing early gains as worries about the Delta variant of the coronavirus and a slowing U.S. economy overshadowed optimism around more fiscal stimulus and a strong second-quarter earnings season. Federal Reserve Governor Christopher Waller said on CNBC late in the session that the Fed could start to reduce its support for the economy by October if the next two monthly jobs reports each show employment rising by 800,000 to 1 million, as he expects. He also suggested the Fed could announce in September it would start to reduce its monthly bond purchases, which could lift yields again - not the best news for the stock market.
In a normal year, the vehicle lot at Jim Tubman Chevrolet in Ottawa is full with hundreds of new cars. On Friday there were only 19 — and some had already sold earlier that day. "Obviously it's a little crazy right now, not just for us but everywhere, " said Ted Smith, senior salesperson at the dealership. Auto sales have flipped from a buyers' market last year to a severe shortage in 2021, one that has people fighting to find popular models before they're snapped up or waiting two to four month
As Quebec artistic swimmer Jacqueline Simoneau prepares to compete at her second Olympic Games, her family won't be in the stands cheering her on. Due to the pandemic, athletes' families weren't allowed to accompany them to Tokyo. For Simoneau's mother, Lynda South, it's disappointing not to be there. By South's count, she's missed only a handful of competitions in her daughter's career, and the Olympics isn't just another swim meet. "It's actually a little heartbreaking. It's really tough, espe
Kenzie MacNeil, best known for his song The Island, is being remembered for as a man who had a major influence on the culture and people of Cape Breton. MacNeil died at Cape Breton Regional Hospital, Sydney on July 24 at age 68. His friend Maynard Morrison, a comedian, actor and director, said MacNeil was exposed to many young people in the arts at the College Pub in Sydney during his days as a student. "We used to go there and have drinks and Rita [MacNeil] would be there sometimes performing o
Senators unveiled a nearly $1 trillion bipartisan infrastructure package Sunday night, wrapping up days of painstaking work on the inches-thick bill and launching what is certain to be a lengthy debate over President Joe Biden’s big priority. (Aug. 2)
WASHINGTON (AP) — With no Supreme Court opening to slow them, President Joe Biden and Senate Democrats are putting judges on federal trial and appellate courts at a much faster clip than any of Biden’s recent predecessors, including former President Donald Trump. Eight judges already have been confirmed, including potential Supreme Court pick Ketanji Brown Jackson to the federal appeals court in Washington. More than 30 other judicial nominations are pending for more than 100 openings. By this t
Grab, Southeast Asia's biggest ride hailing-to-food delivery group's first-quarter adjusted net sales rose 39% to a record $507 million and the Singapore-based firm reduced its losses on the back of a strong performance in its deliveries business. Grab, which is going public through a record merger worth nearly $40 billion with special-purpose acquisition company Altimeter Growth Corp reiterated that it expects to complete the deal in the fourth quarter. Grab said in a statement that its adjusted EBITDA loss reduced to $111 million in the April quarter from $344 million a year earlier.
A high school student in Antigonish, N.S., has opened a new ice cream trailer that is entirely powered by the sun. "I feel really good about it, and it's definitely very empowering, especially since this is the first ice cream trailer with solar power," Nicky Nicholson told CBC's Information Morning on Monday. Nicholson, 15, is the owner of Happy Cones, the new mobile ice cream shop which is usually found in the parking lot of the Antigonish Mall. The teen developed the idea a couple years ago w
After the celebration had ended and the Canadian players started to make their way to the locker room, Captain Christine Sinclair stayed a little longer. She was lying on the Kashima Stadium grass alone, soaking in the moment. Relief. Excitement. Redemption. "We finally won. For those of us who were part of the 2012 game, it was nice to get a little revenge in an Olympic semifinal," Sinclair said. Nine years after heartbreak and controversy at Old Trafford at London 2012, the Canadian women's so
BEIJING (AP) — More than 300 people died in recent flooding in central China, authorities said Monday, three times the previously announced toll. The Henan provincial government said 302 people died and 50 remain missing. The vast majority of the victims were in Zhengzhou, the provincial capital, where 292 died and 47 are missing. Ten others died in three other cities, officials said at a news conference in Zhengzhou. Record rainfall inundated the city on July 20, turning streets into rushing ri
WASHINGTON (AP) — An array of progressive and pro-White House groups plans to spend nearly $100 million to promote President Joe Biden’s agenda over the next month to pressure Congress while lawmakers are on their August recess. The push being announced Monday, coupled with a wave of travel by the president’s top surrogates, is meant to promote and secure passage of Biden’s two-track infrastructure plan: a bipartisan package focused on highways, transit and broadband, and a Democrats-only budget
It's something Heather and Jarrod Gunn McQuillan have been planning since they were living in B.C. 15 years ago. Find a place in nature, away from the hustle and bustle, where they wake up in the morning, hear the birds chirping and maybe see a hare scamper by or a curious fox staring back at them. Then, someday, expand it into a four-season nature retreat. They found the land on a secluded property by a lake in St. Peters, P.E.I., about 12 years ago, around the same time they moved to the Islan
Some Mi'kmaw artisans in Nova Scotia have found it particularly hard this year to source traditional materials, such as birch bark for building canoes and wood from the black ash tree used to create baskets. A big reason for this, according to Mi'kmaw harvesters, is climate change. The black ash is a threatened species in Nova Scotia due in part to habitat loss, historic overlogging and current forestry practices. But the plan established by the province to help the black ash recover notes that
TOKYO (Reuters) -Three women dominated the focus at the Olympics on Monday - U.S. gymnast Simone Biles, Belarus sprinter Krystsina Tsimanouskaya https://www.reuters.com/lifestyle/sports/belarus-athlete-in-hands-authorities-ioc-2021-08-02 and New Zealand's Laurel Hubbard https://www.reuters.com/lifestyle/sports/weightlifting-nzs-hubbard-becomes-first-transgender-olympian-exits-early-2021-08-02 - as politics and personal issues played out at the Tokyo Games. China's team sprinters took the first gold on offer in the track cycling programme, powering to victory and helping solidify China's leading medal haul.
Central banks and financial regulators urgently need to get to grips with the growing influence of 'Big Tech', according to top officials from central bank umbrella group the Bank for International Settlements (BIS). Global watchdogs are increasingly wary that the huge amounts of data controlled by groups such as Facebook, Google, Amazon and Alibaba could allow them to reshape finance so rapidly that it destabilises entire banking systems. China has already rattled its markets with a series of clampdowns https://www.reuters.com/world/china/no-gain-without-pain-why-chinas-reform-push-must-hurt-investors-2021-07-28 on top tech and e-commerce firms.
A tweet by Kim Kardashian promoting Afterpay as a way to buy her beauty products may have proved pivotal for the Australian buy now, pay later pioneer, whose founders have since joined the reality TV superstar as billionaires. Kardashian's recommendation in 2018 helped Afterpay, which has agreed a record $29 billion buyout by Square, the payments firm of Twitter founder Jack Dorsey, crack the U.S. market. Afterpay's rapid rise, which has culminated in Australia's biggest-ever deal and powered its stock market to record highs, began when an eBay vendor noticed young people avoiding credit cards after the 2008 financial crisis.
NIAGARA FALLS, Ont. — Niagara Regional Police say a woman is dead and a man is missing after they went for a Sunday afternoon swim in the Niagara River. Police say the two, both in their 20s, had been hiking with friends from the Greater Toronto Area when they entered the river, which has strong currents. A 911 call came in around 5:00 p.m. about swimmers in distress near the Niagara Glen, and officers later pulled a Toronto woman from the water in critical condition. Police say the officers tri
KUALA LUMPUR, Malaysia (AP) — Police blocked opposition lawmakers from marching Monday to protest a two-week lockdown of Malaysia's Parliament, which they consider another ploy for the embattled prime minister to dodge a no-confidence vote. With a crucial parliamentary session due, Prime Minister Muhyiddin Yassin instead postponed it and Parliament will be shut for two weeks. The health ministry said Parliament was deemed a high-risk venue because four of 11 COVID-19 cases detected among staff a
When Terri Kinsella heard that travellers from the United States will once again be allowed to enter Canada as of Aug. 9, she booked her flight home to Newfoundland and Labrador right away. Originally from Corner Brook and now living in Evanston, Illinois, Kinsella missed her parents' 50th wedding anniversary in August 2020, and hasn't been able to travel home to visit friends and family since before the COVID-19 pandemic began. "It's been very isolating," she said. "The U.S. was hit particularl
The threat of flooding is an annual worry for those living along the St. John River. But when Paul and Tina Arthurs bought a getaway property in Sheffield, across Rte 105 from the river, in a flood-prone area, they decided they would rise above that worry. They've stuck their travel trailer on stilts — a dozen telephone poles to be precise. "I just figured I'd put it up in the air and have something that I don't have to move and I can have the power up there, my well up there, everything is up t