Manchester firefighter retires
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Manchester firefighter retires
WASHINGTON (AP) — The U.S. supply of computer chips has fallen to alarmingly low levels, raising the prospect of factory shutdowns, the Commerce Department reported Tuesday. Companies that use semiconductors are down to less than five days of inventory — a sharp drop from 40 days in 2019, according to a department survey of 150 companies. The chips used in the production of automobiles and medical devices are especially scarce. Demand for chips, the department said, was up 17% last year from 201
The company had earlier encouraged employees to work remotely during the first three weeks of January, after a big spike in COVID-19 cases forced several large U.S. banks to pause return-to-office plans. Like its peers, Bank of America has pushed employees to get fully vaccinated and has hosted on-site vaccine booster clinics for staff across the country. Bank of America is not the only large bank to have asked employees to return to office - in January, rival lender Citigroup also asked employees in the New York City region to return to office in early February.
CANBERRA, Australia (AP) — Australian Prime Minister Scott Morrison has lost control of his account on the Chinese-owned social media platform WeChat and a lawmaker on Monday accused China's leaders of political interference. Morrison’s 76,000 WeChat followers were notified his page had been renamed “Australian Chinese new life” earlier this month and his photograph had been removed, Sydney’s The Daily Telegraph newspaper reported. The changes were made without the government’s knowledge, the re
COMACHUEN, Mexico (AP) — In Comachuen, a Purepecha Indigenous community of about 10,000 inhabitants nestled high in the pine-clad mountains of the western state of Michoacan, the whole town survives because of the money sent home by migrants working in the United States. That money, known as remittances, kept families fed after local woodworking sales dropped off a decade ago when pine lumber started to become scarce. The money has allowed their families to remain in Comachuen rather than moving
The Canadian dollar weakened on Monday to its lowest level in more than two weeks against its U.S. counterpart as investors dumped riskier assets on fears of a Russian attack on Ukraine. "While risk-off price action has been abundant today due to geopolitical factors, it took the nosedive in U.S. equity markets to trigger a fresh wave of risk aversion in markets," said Simon Harvey, head of FX analysis for Monex Europe and Monex Canada. Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to moves in risk appetite.
WASHINGTON (AP) — President Joe Biden pledged last week to chat more with everyday Americans and took an initial step Tuesday afternoon by visiting a gift shop and ice cream store in Washington's Capitol Hill neighborhood. Biden went shopping at Honey Made, a boutique that opened up last year amid the pandemic. The president perused the store, choosing a hoodie for his grandson and a necklace for his wife, Jill. He then picked up a mug with a picture of Vice President Kamala Harris on it. “I'll
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Wild swings in stocks are testing the resolve of investors employing one of Wall Street’s most popular strategies: buying the dip. The S&P 500 reversed a deep selloff on Monday to finish up 0.3%, after the benchmark index crossed into correction territory, while the Nasdaq flirted with a bear market before also finishing higher, suggesting that dip buyers have not gone extinct despite big declines in stocks in the first weeks of 2022. But while dip buying has rewarded investors in the last two years as stocks doubled from their March 2020 lows, bargain hunters now face uncertainties over how aggressively the Federal Reserve will need to tighten monetary policy this year, a potential war between Russia and Ukraine, and disappointing corporate earnings.
RENO, Nev. (AP) — The U.S. government plans to capture more wild horses on federal lands this year than ever before, drawing sharp criticism from mustang advocates who hoped the Biden administration would curtail widespread gathers of thousands of horses annually across the American West. Bureau of Land Management Director Tracy Stone-Manning, known as an ally of conservationists on several public land fronts when she was appointed in the fall, says the agency plans to permanently remove at leas
TORONTO — The Canadian Bankers Association has named Anthony Ostler as its new president and chief executive. He will step into the role at the end of February, replacing Neil Parmenter who resigned on Dec. 23, 2021. The banking industry lobby group says Ostler most recently worked as head of stakeholder engagement in global marketing at State Street in Boston. Prior to working at State Street, Ostler held roles at Manulife, Canaccord and RBC according to his LinkedIn profile. The Canadian Banke
WASHINGTON (AP) — The District of Columbia and three states are suing Google for allegedly deceiving consumers and invading their privacy by making it nearly impossible for them to stop their location from being tracked. In the lawsuit filed Monday in a District of Columbia court, D.C. Attorney General Karl Racine alleges Google has “systematically” deceived consumers about how their locations are tracked and used. He also says the internet search giant has misled users into believing they can c
Activist hedge fund Macellum Advisors, which wants Kohl's Corp to consider putting itself up for sale, is now pressing the U.S. retailer for at least one board seat and a public statement that the company is reviewing strategic alternatives, according to a letter reviewed by Reuters. Macellum, which owns roughly 5% of Kohl's stock, sent the letter hours after Acacia Research Corp, backed by activist investor Starboard Value, on Monday confirmed an offer to buy the company for $64 a share, valuing Kohl's at roughly $9 billion. In addition to Acacia's bid, Sycamore Partners is also preparing an all-cash offer for Kohl's at $65 per share, sources said on Sunday.
A trucker convoy has left the Regina area and is expected to stop in Winnipeg today before making a final stop in Ottawa later this week. The Regina Police Service estimates about 1,200 trucks went through the city last night. They converged at a truck stop in Balgonie, Sask., after coming from Saskatoon and other western provinces. The convoy was greeted last night by supporters — including Conservative members of Parliament Andrew Scheer and Warren Steinley — and again this morning by others b
(Reuters) -General Motors Co said Tuesday it will invest $7 billion in Michigan, much of that aimed at dramatically boosting production of full-size electric pickups, intensifying a battle with rival Ford Motor Co for EV supremacy in North America. Both U.S. automakers, however, will have to contend with current leader Tesla, which will soon open a second U.S. plant in Austin, Texas, and is on pace to sell more than 1 million electric vehicles globally in 2022. GM said its Detroit-Hamtramck and Orion Township plants will be able to build more than 600,000 electric trucks a year by late 2024, with three other plants in Tennessee, Ontario and Mexico boosting the company's total North America EV production capacity to more than a million units by late 2025.
Canada's main stock index edged higher on Tuesday, bouncing back from a steep sell-off earlier in the day, as resource shares benefited from geopolitical tensions boosting oil and gold prices. The Toronto Stock Exchange's S&P/TSX composite index ended up 19.68 points, or 0.1%, at 20,590.98, after declining in the five previous trading days. The index closed 2.3% above its session low, but sentiment remained fragile amid fears that Russia will invade Ukraine and ahead of interest rate announcements on Wednesday by the Bank of Canada and the Federal Reserve.
TORONTO — Widespread capacity limits, venue closures and other government-mandated COVID-19 safety measures left Canada's performing arts sector facing a major financial downfall in 2020. A report this week from Statistics Canada says efforts to prevent the spread of the virus during the first year of the pandemic drove revenues to their lowest level since the federal agency began tracking the data in 2014. Overall, the performing arts industry's operating revenues plummeted 31 per cent to $1.8
GE Appliances Canada today announced a multi-year partnership with Canada Soccer. As part of its ongoing commitment to soccer in Canada, the brand is now an official partner of Canada Soccer's National Teams as their first-ever appliance brand partner.
Robinson will replace Jean-Jacques Ruest, who announced his decision to step down from the role in October following investor demands for his exit after Canadian National's failed bid for Kansas City Southern. Canadian National will also appoint two new independent directors as a part of the settlement with TCI Fund Management, which has agreed to withdraw a requisition for a special meeting of shareholders that was previously slated for March 22. Billionaire Chris Hohn's TCI in September nominated four independent directors to the company's board.
THE HAGUE, Netherlands (AP) — Prime Minister Mark Rutte further eased the Netherlands' coronavirus lockdown, allowing bars, restaurants, museums, theaters and other venues to reopen from Wednesday for the first time this year. But Rutte warned that the move wasn't without risks. “We are taking a big step today to unlock the Netherlands while the infections numbers are really going through the roof,” Rutte said Tuesday. The announcement wasn't all good news for the beleaguered hospitality and cul
Tencent Holdings, China's biggest social media and video games company, on Tuesday said it fired nearly 70 staff over bribery and embezzlement incidents last year and named 13 companies it had blacklisted from future contracts. Tencent said in a social media post that it had also reported more than 10 people to authorities over their actions. Tencent started its anti-graft campaign in 2019 and has been regularly reporting the results of its probes.