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US inflation eases but stays high, putting Fed in tough spot

Published Sat, 02 Nov 2024 17:18:51 GMT

By CHRISTOPHER RUGABER (AP Economics Writer)WASHINGTON (AP) — U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system.The government said Tuesday that prices increased 0.4% last month, just below January’s 0.5% rise. Yet excluding volatile food and energy costs, so-called core prices rose 0.5% in February, slightly above January’s 0.4% gain. The Fed pays particular attention to the core measure as a gauge of underlying inflation pressures.Even though prices are rising much faster than the Fed wants, some economists expect the central bank to suspend its year-long streak of interest rate hikes when it meets next week. With the collapse of two large banks since Friday fueling anxiety about other regional banks, the Fed, for now, may focus more on boosting confidence in the financial system than on its long-term drive to tame inf...

Toronto man accused of sexually assaulting woman during meetings at human rights organization

Published Sat, 02 Nov 2024 17:18:51 GMT

Police say a 64-year-old man is facing a slew of charges after a woman was sexually assaulted numerous times at the Canadian Human Rights International Organization in Toronto.Toronto police allege the suspect sexually assaulted the woman between Feb. 25 and March 1 during meetings at the organization, which is located on Finch Avenue West near Keele Street in North York.Jose Mario Guilombo, of Toronto, was arrested on March 9 and charged with five counts of sexual assault and two counts of forcible confinement.Investigators have released his photo because they suspect there may be other victims. Anyone with information is being asked to contact police.

Pakistan police, ex-PM Khan supporters scuffle near his home

Published Sat, 02 Nov 2024 17:18:51 GMT

ISLAMABAD (AP) — Pakistani police on Tuesday scuffled with supporters of former Prime Minister Imran Khan outside his home in the eastern city of Lahore as officers arrived to serve a warrant for the 71-year-old opposition leader to appear in court later this week on graft charges. Police fired tear gas at the house as Khan’s supporters hurled rocks and bricks at the officers. About a dozen police and some 35 of Khan’s supporters were reported injured. Tear gas shells and pieces of bricks littered the pavement as Khan’s followers fought back with batons snatched from the officers. Khan has been ordered to appear before a judge in Islamabad on Friday to answer charges of illegally selling state gifts he had received during his term as premier and concealing assets.Khan, who was ousted in a no-confidence vote in Parliament last April, has claimed that the string of cases against him, which include terrorism charges, are a plot by the government of his successor, Prim...

Greek archaeologists protest holiday island assault

Published Sat, 02 Nov 2024 17:18:51 GMT

ATHENS, Greece (AP) — State-employed archaeologists in Greece launched strike action Tuesday to protest an assault on an archaeologist on the island of Mykonos, an attack they say may have been linked to commercial pressure to extend tourism development.Archaeologist Manolis Psarros was beaten by two unidentified men on the island last week and was left unconscious and bleeding in the street. The 53-year-old was later transported to a state hospital in Athens.Archaeologists employed by the Culture Ministry staged a five-hour work stoppage to protest what their association described as a “mafia-style attack.” They were joined by ministry employees in Athens as well as the national Association of Archaeological Conservators. Planning permission in Greece is often subject to a veto by the local archaeological service, which is tasked with protecting the country’s ancient heritage.One of Greece’s best known holiday destinations, Mykonos was settled in ancient times and hosts an archaeol...

Dorel reports growing losses amid reduced orders from retailers, price discounting

Published Sat, 02 Nov 2024 17:18:51 GMT

MONTREAL — Dorel Industries Inc. reported its net loss from continuing operations grew in the fourth quarter amid lower U.S. sales in its children’s products and home furnishings divisions.The Montreal-based company, which keeps its books in U.S. dollars, says it lost US$41.4 million or US$1.27 per diluted share in the quarter, compared with a loss of US$29.6 million or 91 cents per diluted share a year ago. Its adjusted loss for the three months ended Dec. 30 amounted to US$39.8 million or US$1.22 per diluted share, compared with US$12.0 million or 37 cents per diluted share in the fourth quarter of 2022.Revenue slipped to US$340.3 million, down 21.8 per cent from US$435.3 million a year ago.Dorel CEO Martin Schwartz says the company’s fourth quarter performance is disappointing and reflects a drop in Dorel Home sales volumes as retailers reduced ordering. In addition, he says excess inventory across the industry means the company is discounting prices to move higher co...

Oprah reflects upon book club as she announces 100th pick

Published Sat, 02 Nov 2024 17:18:51 GMT

NEW YORK (AP) — For her 100th book club pick, Oprah Winfrey relied on the same instincts she has drawn upon from the start: Does the story move her? Does she think about it for days after? In a work of fiction, do the characters seem real to her?“When I don’t move on, that’s always a sign to me there’s something powerful and moving,” Winfrey told The Associated Press in a recent telephone interview. On Tuesday, she announced that she had chosen Ann Napolitano’s “Hello Beautiful,” a modern-day homage to “Little Women” from the author of the bestselling “Dear Edward.” The novel was published Tuesday by Dial Press, a Penguin Random House imprint, and Winfrey believes its themes of family, resilience and perspective give “Hello Beautiful” a “universal appeal” that makes it a proper milestone.A Winfrey pick no longer ensures blockbuster sales, but it retains a special status within the industry; for authors, a call from Winfrey still feels like being told they’ve won an Oscar...

Netanyahu critics urge Germany, Britain to cancel his visit

Published Sat, 02 Nov 2024 17:18:51 GMT

JERUSALEM (AP) — Hundreds of Israeli writers, artists and intellectuals on Tuesday called on Germany and Britain to cancel upcoming visits by Prime Minister Benjamin Netanyahu, saying his plan to overhaul Israel’s judicial system has put the country on a destructive course.Netanyahu’s coalition, a collection of ultranationalist and ultra-Orthodox parties, has barreled ahead with legislation that aims to weaken Israel’s Supreme Court and give them control over the appointment of the nation’s judges. They say the plan is a long-overdue measure to curb what they see as outsize influence by unelected judges. But critics say the plan will destroy Israel’s fragile system of checks and balances by concentrating power in the hands of Netanyahu and his parliamentary majority. They also say it is attempt by Netanyahu, who is on trial for corruption charges, to escape justice.Tens of thousands of Israelis have taken to the streets over the past two months to protest the sweeping overhaul. Prot...

New poll says majority of Canadians want elections inquiry: In The News for March 14

Published Sat, 02 Nov 2024 17:18:51 GMT

In The News is a roundup of stories from The Canadian Press designed to kickstart your day. Here is what’s on the radar of our editors for the morning of March 14 …What we are watching in Canada …New polling suggests the majority of Canadians want the federal government to call an independent inquiry into foreign interference in the last two federal elections, but still feel the country’s electoral system is safe.Market research firm Leger surveyed 1,544 people between March 10 and 12, asking a range of questions about Canada’s electoral system and allegations of foreign interference.The results suggest 71 per cent of Canadians feel the electoral system is safe, while 29 per cent feel it is not.And the majority, 69 per cent of respondents, said they generally trust the results of elections in Canada. One in five said they do not trust the results, and another 11 per cent said they don’t know.The poll cannot be assigned a margin of error because on...

Foreign interference and Canadian intelligence: An FAQ

Published Sat, 02 Nov 2024 17:18:51 GMT

For the past month, headlines have been dominated by leaked CSIS documents, intelligence sources, fears of foreign interference in Canadian elections and the political fallout of all that. But most Canadians don’t know much about how our intelligence community operates. Which agencies do what? Who do they report to? Who can access their information? Why would they release it to the press?Stephanie Carvin is an associate professor at the Norman Paterson School of International Affairs and the author of Stand on Guard: Reassessing threats to Canada’s National Security. She joins us to demystify the world of Canadian intelligence.“Why have we been gathering this information but seemingly not acting on it? It is my hope that in the next couple of months well get some answers to that, as well as—hopefully—some paths forward,” she said.Because this is already shaping up to be the political story of the year in Canada, we wanted to lay out the basics. Here’s what you need...

Dutch set to vote in local elections with national impact

Published Sat, 02 Nov 2024 17:18:51 GMT

THE HAGUE, Netherlands (AP) — Dutch voters go to the polls Wednesday in local elections with a national impact, with campaign themes ranging from local bugbears like dwindling public transport in remote villages to global issues such as migration and the environment.It is also a test of strength for Prime Minister Mark Rutte’s four-party center-right coalition, especially since newly elected provincial lawmakers also pick a new upper house of the national parliament in May. A big shift could affect Rutte’s ability to pass legislation for the remainder of his coalition’s term in office.After increasingly populist campaigning, the vote for the country’s 12 provincial parliaments is expected to highlight a simmering discontent with Rutte’s government and the continuing rise of a party representing farmers angry at moves to contain their output in an attempt to rein in pollution.Across the nation of nearly 18 million people, dozens of parties take part in the elections, many...