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S&P/TSX composite loses more than 100 points, U.S. markets also down

Published Sat, 22 Feb 2025 16:26:34 GMT

TORONTO — Canada’s main stock index was down more than 100 points Thursday amid broad-based losses, while U.S. markets were also down as uncertainty continued to grip the regional banking sector south of the border. Turmoil in the U.S. regional banking sector weighed on markets, with more bad news for the industry as Toronto-Dominion Bank announced it would no longer buy First Horizon Corp. The S&P/TSX composite index was down 116.49 points at 20,238.19, with losses in the major sectors outweighing a 23 per cent boost in Shopify Inc. stock after the company announced more job cuts and a sale of its logistics business. In New York, the Dow Jones industrial average was down 286.50 points at 33,127.74. The S&P 500 index was down 29.53 points at 4,061.22, while the Nasdaq composite was down 58.93 points at 11,966.40.Continued rate increases, most recently from the Federal Reserve Wednesday and the European Central Bank Thursday, are contributing to a “tough environment” fo...

Justice Clarence Thomas let GOP donor pay child’s tuition

Published Sat, 22 Feb 2025 16:26:34 GMT

WASHINGTON (AP) — A Republican megadonor paid two years of private school tuition for a child raised by Supreme Court Justice Clarence Thomas, who did not disclose the payments, a lawyer who has represented Thomas and his wife acknowledged Thursday.The revelation of tuition payments made by Dallas billionaire Harlan Crow is the latest example of Crow’s generosity to Thomas and his family that has raised questions about Thomas’ ethics and disclosure requirements more generally. The payments, along with the earlier examples of Crow’s financial ties to Thomas, were first reported by the nonprofit investigative journalism site ProPublica.ProPublica reported Thursday that Crow paid tuition for Thomas’ great-nephew Mark Martin. Thomas and his wife, Virginia, raised Martin from the age of 6.Over the past month, ProPublica has reported in other stories about luxury vacations paid for by Crow that the conservative justice took as well as Crow’s purchase of prope...

Executions may return to South Carolina; shield law nears OK

Published Sat, 22 Feb 2025 16:26:34 GMT

COLUMBIA, S.C. (AP) — A bill that would allow South Carolina to buy the drugs needed for lethal injection without revealing the name of the company who sells them will soon be heading for the governor’s desk.The state Senate on Thursday approved minor changes the House made in the shield law bill with almost no debate. The proposal also requires the names of members of the execution team be kept secret.South Carolina has had an unintended 12-year moratorium on the death penalty after its lethal injection drugs passed their expiration date and pharmacies refused to sell the state more.Several South Carolina death row inmates have run out of regular appeals but their executions are on hold because they can’t be carried out.Sixteen other states have carried out about 100 lethal injection executions in the past six years. Many have shield laws. Some do not.“It has worked in other states. Let’s see if it works here,” South Carolina Corrections Department Director Bryan ...

What seditious conspiracy means in Proud Boys’ Jan. 6 case

Published Sat, 22 Feb 2025 16:26:34 GMT

WASHINGTON (AP) — The convictions on historically rare seditious conspiracy charges against leaders of the Proud Boys extremist group mark another major victory for the Justice Department in its massive prosecution of the attack on the U.S. Capitol. Jurors on Thursday found former Proud Boys national chairman Enrique Tarrio and three lieutenants guilty of the rarely used Civil War-era charge. It was the third seditious conspiracy trial stemming from the Jan. 6, 2021, riot that forced Congress to adjourn as lawmakers and staff hid from a violent mob. The founder of the Oath Keepers extremist group and several members have also been convicted of the charge.Here’s a look at the charge of seditious conspiracy and its history:___WHAT HAPPENED AT THE LATEST TRIAL?Prosecutors sought to prove Tarrio and four co-defendants plotted for weeks to use force to keep then-President Donald Trump in power. Tarrio wasn’t in Washington on Jan. 6 — he was arrested in a separate case two days earl...

Canadian Natural Resources reports Q1 profit down as oil prices slide

Published Sat, 22 Feb 2025 16:26:34 GMT

CALGARY — Canadian Natural Resources Ltd. saw its profits in the first quarter decline 41 per cent year-over-year as oil prices weakened.The Calgary-based company, which is Canada’s largest oil and gas producer by market capitalization and a darling of the financial analyst community for its history of strong performance, reported a first-quarter profit of $1.8 billion, down from $3.1 billion in the same quarter last year.The profit amounted to $1.62 per diluted share for the quarter ended March 31, down from a profit of $2.63 per diluted share a year earlier.Revenue for the quarter totaled $8.6 billion, down from nearly $10.7 billion in the first three months of 2022.The company’s financial results reflect the price of oil, which has come down significantly from the heights it reached in 2022 in the immediate aftermath of Russia’s invasion of Ukraine.The benchmark West Texas Intermediate price remained strong in the first quarter of 2023, averaging US$76.11 per ba...

IDOT announces new construction project on Kennedy Expressway

Published Sat, 22 Feb 2025 16:26:34 GMT

CHICAGO — The Illinois Department of Transportation announced more construction work taking place soon on the Kennedy Expressway.Starting on Monday, IDOT said milling and resurfacing work will require overnight lane and some ramp closures in the outbound lanes between Madison and Ohio streets in Chicago. Looking to avoid the Kennedy Expressway construction? Here’s what you should know At least one outbound lane will remain open at all times, IDOT said. The closures, depending on the weather, are scheduled for the following times.10 p.m. to 5 a.m. Sunday-Thursday10 p.m. Friday to 8 a.m. Saturday10 p.m. Saturday to 10 a.m. SundayThe work is expected to be completed later in the summer.IDOT said this work is unrelated to the bridge rehabilitation work currently happening in the inbound lanes north of this construction area.That project is expected to last three years.

Boater finds missing man dead in Fox River in McHenry County

Published Sat, 22 Feb 2025 16:26:34 GMT

MCHENRY, Ill. — Officials in McHenry County said a boater the body of a missing man Wednesday in the Fox River.In a press release, the McHenry Police Department said the boater found the body around 3:15 p.m. near the 2000 block of South Fernwood Lane. Chicago police: 4 people shot at Parkway Gardens, 1 critical Gustavo Guzman-Perez (McHenry Police Department/Provided)It's about five-and-a-half miles away from where Gustavo Guzman-Perez, 28, was last seen on April 22.On Thursday, the McHenry County Coroner's Office confirmed it was Guzman-Perez who was found in the river.Police previously said he was last seen around 2 a.m. on April 22 near a home in the 3000 block of Virginia Avenue. The next day, police said more than 60 search and rescue volunteers and emergency personnel searched about 665 acres for him. In a news release on April 24 and in Wednesday's release, police said there is not a threat to the public and foul play isn't suspected. Anyone with information is asked to ca...

If you use TurboTax you may be owed money. How settlement payments will work

Published Sat, 22 Feb 2025 16:26:34 GMT

NEW YORK (NEXSTAR/WETM) - Millions of taxpayers who used the popular Intuit filing software TurboTax in recent years will receive money from a 50-state, $141 million settlement accusing the company of charging people for services that should have been free.“Intuit cheated millions of low-income Americans out of free tax filing services they were entitled to,” said New York Attorney General Letitia James said in a statement Thursday. “For years, Intuit misled the most vulnerable among us to make a profit. Today, every state in the nation is holding Intuit accountable for scamming millions of taxpayers, and we’re putting millions of dollars back into the pockets of impacted Americans."The investigation into Intuit's business practices stemmed from two versions of TurboTax: one created through participation in the IRS Free File Program – designed for military members and those making less than $34,000 – and a second, "TurboTax Free Edition," which the company heavily marketed in a...

Federal Reserve announces interest rate hike as default looms

Published Sat, 22 Feb 2025 16:26:34 GMT

WASHINTON (Nexstar) -- The federal reserve announced another interest rate hike as part of ongoing efforts to lower inflation.The move comes as the government is quickly approaching a point in which it could default on its debts and obligations, which the Federal Reserve chairman warns would be unprecedented.“We have raised interest rates by five percentage points in a little less than a year,” Federal Reserve Chair Jerome Powell said. Powell announced another quarter point interest rate hike on Wednesday and says they have worked to cool down the housing and investment markets, which is helping to lower inflation."We are seeing other effects of our policies tightening on demand," Powell said.Inflation still hasn't decreased to the target two percent mark, but the bigger economic concern is quickly becoming whether the United States government could default on its loans and obligations.“We understand there is more work to do,” White House Press Secretary Karine Jean-Pierre said.In C...

Chicago police searching for 13-year-old girl missing from Little Village

Published Sat, 22 Feb 2025 16:26:34 GMT

CHICAGO — Chicago police are asking for help finding a missing 13-year-old girl last seen Wednesday.Alexandra Juarez is described as being about 5 feet 8 inches tall, weighing about 140 pounds, with brown eyes and black hair. IDOT announces new construction project on Kennedy Expressway According to the Chicago Police Department, Juarez was last seen in the 2800 block of West 23rd Place, which is in Little Village.She was last seen wearing a red hoodie with beige cargo pants.Anyone with information on her whereabouts is asked to call 911 or SVU detectives at 312-746-8251.