Home

S&P/TSX composite falls almost 400 points, U.S. stock markets also retreat

Published Sat, 08 Feb 2025 08:08:09 GMT

TORONTO — Canada’s main stock index fell almost 400 points, or nearly two per cent, Tuesday on broad-based weakness, while U.S. markets also fell, with the three major indexes south of the border each losing more than one per cent.The S&P/TSX composite index closed down 390.75 points at 19,899.79.In New York, the Dow Jones industrial average was down 361.24 points at 34,946.39. The S&P 500 index was down 51.86 points at 4,437.86,while the Nasdaq composite was down 157.28 points at 13,631.05.Concerns about China’s economy weighed on energy and materials, affecting Canadian markets in particular because of the way they are weighted, explained Michael Greenberg, senior vice-president and portfolio manager at Franklin Templeton Investment Solutions.China unexpectedly cut a key interest rate on Tuesday and decided to skip a report on unemployment among younger workers. Weakness in China’s economy bodes poorly for global commodity demand because of the country’s size, ...

Videos put scrutiny on downed power lines as possible cause of deadly Maui wildfires

Published Sat, 08 Feb 2025 08:08:09 GMT

Awakened by howling winds that tore through his Maui neighborhood, Shane Treu went out at dawn and saw a wooden power pole suddenly snap with a flash, its sparking, popping line falling to the dry grass below and quickly igniting a row of flames.He called 911 and then turned on Facebook video to livestream his attempt to fight the blaze in Lahaina, including wetting down his property with a garden hose.“I heard ‘buzz, buzz,’” the 49-year-old resort worker recounted to The Associated Press. “It was almost like somebody lit a firework. It just ran straight up the hill to a bigger pile of grass and then, with that high wind, that fire was blazing.”Treu’s video and others captured the early moments of what would become the deadliest U.S. wildfire in more than a century. Now the footage has emerged as key evidence pointing to fallen utility lines as the possible cause. Hawaiian Electric Co. faces criticism for not shutting off the power amid high wind warnings and keeping it on even as d...

Former Premier Kathleen Wynne angry over Ford decision to develop parts of the Greenbelt

Published Sat, 08 Feb 2025 08:08:09 GMT

Former Premier Kathleen Wynne is speaking out following the auditor general’s Greenbelt report that found the process favoured developers with ties to the housing minister’s chief of staff and failed to consider environmental, agricultural and financial risks and impacts.She said she is infuriated over not only the removal of lands from the Greenbelt, but how it was done.“I’m pretty angry that the good work that has been done, that was cherished by so many people in the province is being undone, and I think it’s dangerous. I think it’s a dangerous path to go down. And I think it should be reversed,” Wynne told CityNews.The two-million acre Greenbelt was formed under Dalton McGuinty’s government almost 20 years ago. Wynne was first elected in 2003 and spent six years in McGuinty’s cabinet including one year as the Minister of Municipal Affairs and Housing.Wynne succeeded McGuinty as Premier before losing to Doug Ford in a crushing defea...

Magoo, ‘Up Jumps da Boogie’ rapper and Timbaland collaborator, dies at 50

Published Sat, 08 Feb 2025 08:08:09 GMT

LOS ANGELES (AP) — The rapper Magoo, known for his work as one-half of the hip-hop duo Timbaland & Magoo and the hit song “Up Jumps da Boogie” featuring Aaliyah and Missy Elliott, has died. Magoo, who was pioneer of the ’90 and early 2000s Virginia rap scene, was 50. His wife, Meco Barcliff, told the New York Times Magoo had no known health issues beyond asthma and had not been feeling well that week. He died over the weekend in Williamsburg, Va.; investigators are still looking into his cause of death. Larry “Larry Live” Lyons, a close friend of Magoo’s who was also in the rap group Surrounded by Idiots (S.B.I.) with the late rapper, Pharrell Williams, and Timbaland (who went by DJ Timmy Tim at the time) shared a statement from Magoo’s family.“Magoo’s memory will forever live on and his music will continue to inspire & uplift us! We ask for your understanding and respect as we process this loss and celebrate the life of a remarkable individual & our be...

Suncor has been too focused on energy transition, must get back to fundamentals: CEO

Published Sat, 08 Feb 2025 08:08:09 GMT

CALGARY — The man hired to turn around the flagging fortunes of Suncor Energy Inc. said Tuesday he believes the company has been too focused in recent years on the energy transition and must get back to an oil-centred business strategy. CEO Rich Kruger, who took the reins at the Calgary-based energy giant this spring, told analysts on a conference call that the company’s board of directors agrees with him that a “revised direction and tone” at the company is necessary. He said he believes Suncor must not neglect “the business drivers of today” in favour of future-focused, clean and low-carbon energy pursuits. “We have a bit of a disproportionate emphasis on the longer-term energy transition,” Kruger said, adding that while lower emissions energy is important, it is not what is going to make money for shareholders today.“Today, we win by creating value through our large integrated asset base underpinned by oilsands.”Kruger, the fo...

Explosive materials in New Jersey home caused blast that killed 2 men, 2 children, officials say

Published Sat, 08 Feb 2025 08:08:09 GMT

BUENA, N.J. (AP) — A house fire and explosion in New Jersey that killed two men and two young children earlier this month was caused by explosive materials found in the residence, authorities announced Tuesday.The report issued by the Franklin Township police department also said gas utilities have been ruled out as being “an attributable factor” for the Aug. 3 fire in Buena. It said hundreds of pounds of chemicals and other materials found on the property are consistent with the production of commercial-grade fireworks, but it did not say if that was being done at the home.The explosion likely originated in the rear left corner of the first floor of the two-story home, investigators said. But they could not determine which chemicals ignited because of the heavy fire damage, the collapse of the structure and the excavation of the property during the search for victims.Among the materials found inside a vehicle on the property were 74 pounds of potassium nitrate, 15 pounds of aluminu...

A man who set a fire at an Illinois Planned Parenthood clinic sentenced to 10 years in prison

Published Sat, 08 Feb 2025 08:08:09 GMT

PEORIA, Ill. (AP) — A man who set a fire at a Planned Parenthood clinic in Illinois was sentenced Tuesday to 10 years in federal prison.Tyler Massengill has admitted using a homemade explosive to set a fire at the Peoria clinic in January, a few days after Democratic Gov. J.B. Pritzker signed a law with additional legal protections for abortion procedures. No one was inside the clinic when the fire happened.“I feel for the people who have lost their jobs. I’m not trying to play like I am victim at this. I was sincerely hurt,” Massengill, 32, said in court, apparently a reference to his belief that a former girlfriend had an abortion a few years ago.Prosecutors, however, said the woman told the FBI that wasn’t true.U.S. District Judge James Shadid said people who typically visit the clinic for a variety of services have had to look elsewhere because of extensive damage to the building, WMBD-TV reported.“And to add to your accomplishments, there’s the striking of fear, stress an...

Deadly clashes between rival militias in Libya’s capital trap civilians, authorities say

Published Sat, 08 Feb 2025 08:08:09 GMT

CAIRO (AP) — Deadly clashes between rival militias in Libya’s capital left residents trapped in their homes on Tuesday, unable to escape the violence, authorities said. The fighting appears to be the most intense to shake Tripoli this year. There were at least four dead but it was not immediately clear if they were militiamen or civilians, an official said. The clashes erupted late on Monday between militiamen from the 444 brigade and the Special Deterrence Force, according to local media reports. Tensions flared after Mahmoud Hamza, a senior commander of the 444 brigade, was allegedly detained by the rival group at an airport in Tripoli earlier in the day, the reports said. Throughout the fighting Tuesday, the Health Ministry urged the warring sides to allow ambulance and emergency teams to enter the affected areas, primarily in the south of the city, and for blood to be sent to nearby hospitals. Abdel Rahman Kaplan, a spokesmen from a medical group affiliated with Libya̵...

MPP Michael Mantha violated NDP anti-harassment policy, investigator finds

Published Sat, 08 Feb 2025 08:08:09 GMT

Ontario’s New Democratic Party (NDP) says Michael Mantha, one of its former parliament members, violated the provincial party’s anti-harassment policy after an independent investigator substantiated a series of serious allegations.Mantha, who won four straight elections in Algoma-Manitoulin, was removed from the NDP caucus in April 2023, stemming from claims of workplace misconduct. The nature of the allegations has not been publicly shared.As a result of the claims made against Mantha, the NDP launched an independent third-party investigation “to create a safer workplace environment.” The investigator determined that the assertions were serious and violated its policies.“The investigator based these findings on interviews with multiple witnesses, including those identified by MPP Mantha, as well as other documentary evidence, including video,” the NDP wrote in a statement on Tuesday.“The Caucus also understands that although MPP Mantha init...

'I am a murderer:' Glenview son stabbed father to death over marijuana use before work, court doc reveals

Published Sat, 08 Feb 2025 08:08:09 GMT

GLENVIEW, Ill. — A Glenview man stabbed his father to death after a dispute over using marijuana before work, a court document revealed Tuesday afternoon.According to a bond proffer from the Cook County State's Attorney's Office, 20-year-old Isaac Thurston and his father, 50-year-old Perron Thurston, were arguing inside their home over whether Isaac should go to work after smoking marijuana Monday morning.The proffer said that Isaac's father was upset over the choice to do so, and later called the coffee shop where his son worked to tell them he could not work today. At that point, the argument spilled over into the kitchen, and during the argument, Isaac picked up a knife from a block on the counter and stabbed his father in the left side of his torso.After being stabbed, Perron called out to his wife, saying, "Isaac just stabbed me."Isaac's mother got out of bed and ran into the kitchen, where she called 911 after seeing that her husband had been stabbed. The married couple's seco...