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S&P/TSX composite down more than 300 points, U.S. markets also lower

Published Mon, 16 Dec 2024 21:56:16 GMT

TORONTO — Canada’s main stock index plunged more than 300 points in a broad-based decline led by the energy and base metal stocks, while U.S. stock markets also fell in late-morning trading.The S&P/TSX composite index was down 308.09 points at 20,307.01.In New York, the Dow Jones industrial average was down 578.08 points at 33,473.62. The S&P 500 index was down 73.52 points at 4,094.35, while the Nasdaq composite was down 183.17 points at 12,029.43.The Canadian dollar traded for 73.39 cents US compared with 73.82 cents US on Monday.The June crude contract was down US$3.43 at US$72.23 per barrel and the June natural gas contract was down 10 cents at US$2.22 per mmBTU.The June gold contract was up US$26.20 at US$2,018.40 an ounce and the July copper contract was down seven cents at US$3.86 a pound.This report by The Canadian Press was first published May 2, 2023.Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)The Canadian Press

Vast majority of Canadians think news organizations should have clear policy on AI technology: poll

Published Mon, 16 Dec 2024 21:56:16 GMT

With the rise in the use of artificial intelligence (AI) technology, a new survey found the vast majority of Canadians, 92 per cent, believe that news organizations should have a clear and transparent policy on how they use AI to produce news and information.The new poll from Maru Public Opinion also found that 85 per cent are concerned the use of AI in journalism will produce or spread misinformation and another 86 per cent could bring the potential for inaccuracy.Another significant number, 85 per cent, believe that a Canadian governing body should have strict oversight of journalism AI practices/ethics that would also dole out fines/professional penalties for breaches.Just over half of those polled said they were concerned that the use of AI to produce news for mainstream and digital media.It also found the youngest Canadians, 24 per cent of those who are aged 18-34 and 29 per cent of the Gen Z population, are the most excited about the prospects of AI journalism compared to thei...

Vancouver’s April home sales down 16.5% from a year ago: board

Published Mon, 16 Dec 2024 21:56:16 GMT

VANCOUVER — The Real Estate Board of Greater Vancouver says April home sales slid 16.5 per cent from a year ago as new listings remained below historical norms.The B.C. board says sales for the month totalled 2,741, almost 16 per cent below the 10-year seasonal average.The composite benchmark price for all residential properties in Metro Vancouver hit $1,170,700 last month, down 7.4 per cent from a year ago but up 2.4 per cent from March.There were 4,307 new listings last month, a 29.7 per cent decrease, when compared with the prior April and a 22 per cent drop from the 10-year seasonal average of 5,525.The board saw the numbers as a sign that home sales are staging a comeback and headed toward levels seen last spring before eight consecutive interest rate hikes were carried out.The rate hikes eroded buying power and sent buyers to the sidelines, but the board believes a shift is underway.“The fact we are seeing prices rising and sales rebounding this spring tells us homebuyer...

Is returning to school worth it for advancing your career? Experts weigh in

Published Mon, 16 Dec 2024 21:56:16 GMT

After several years of working in retail, Shantia Cross had enough. One day in 2021, she decided to walk off the job and leave what she described as a toxic and thankless workplace. Her mother advised her to either find a new job or go back to school, and that got Cross thinking.That same night, she stayed up until 3 a.m. searching for a career where she could use the hard skills that she picked up in journalism school — like interviewing and shooting video — and stumbled upon some testimonials about jobs in user experience, or UX, design. Cross decided on a one-year, intensive post-graduate certificate program at Centennial College in Toronto after searching for programs with a UX design component. Brimming with excitement, she signed up.“I’m really glad I stuck with it,” said Cross, who is now a content strategist for one of the country’s top banks. Cross is just one of many Canadians who have returned to school in order to advance their careers, a move that experts s...

Flooding has pushed Wisconsin’s Bad River closer to Line 5 pipeline: court documents

Published Mon, 16 Dec 2024 21:56:16 GMT

WASHINGTON — Heavy flooding throughout the U.S. Midwest has pushed the edge of the Bad River in Wisconsin ever closer to the controversial Line 5 pipeline. Court documents filed Monday show the river overtopped its banks twice last month for a total of nine days, washing away some 2.5 metres of terrain at its closest point. The Bad River Band of the Lake Superior Chippewa is in court to force the pipeline’s owner, Enbridge Inc., to redirect the line around its territory. The band has been arguing that seasonal flooding along the river escalates the risk of a catastrophic failure in a key watershed. The current river conditions do not require either a shutdown or a purge of the pipeline, under separate contingency plans submitted by both Enbridge and the band.But environmental law group Earthjustice disagrees, saying the line is now just one serious rainstorm away from becoming fully exposed. This report by The Canadian Press was first published May 2, 2023.The Canadian Press

Opponents make last-ditch effort to stop French pension law

Published Mon, 16 Dec 2024 21:56:16 GMT

PARIS (AP) — Opponents of a law that would raise the retirement age in France from 62 to 64 are making last-ditch plans to prevent the change that is set to take effect in September. The country’s main labor unions on Tuesday called for another round of nationwide demonstrations and strikes on June 6. May Day protests across France on Monday drew either 800,000 people — that’s according to French authorities — or 2.3 million people, which was the estimate given by organizers. France’s top constitutional body is expected to rule Wednesday on a request from opposition lawmakers to start a lengthy process that could ultimately lead to a bill or a referendum to restore the minimum retirement age of 62. With President Emmanuel Macron having demonstrated his determination to press on with the unpopular pension reform, here’s a look at the next steps for his government and the plan’s opponents.A LONG SHOT AT A REFERENDUMThe Constitutional Council’s role is to ...

Orillia mourns hometown legend Gordon Lightfoot, makes books of condolences available

Published Mon, 16 Dec 2024 21:56:16 GMT

ORILLIA, Ont. — The Ontario city of Orillia is mourning hometown legend Gordon Lightfoot, saying the famous folk musician had an immense impact on the community and beyond. Lightfoot died of natural causes at Toronto’s Sunnybrook Hospital on Monday at 84.Orillia Mayor Don McIsaac said Lightfoot was highly regarded in the city. “His homecoming concerts at the Orillia Opera House and appearances at the Mariposa Folk Festival have always been celebrated by Orillians as they welcomed him home,” the mayor wrote in a statement. “Many of us who knew him will remember his soft-spoken demeanor, generous personality and infectious laugh.”There are reminders of Lightfoot throughout Orillia, McIsaac said, noting that the singer’s name graces a city auditorium stage and a trail, while a bust of him sits at the Orillia Opera House and a bronze sculpture honouring him stands in a city park.“His deep roots in our city are woven into the fabric of Orillia,&#...

Stock market today: Wall Street drops as banks tumble again

Published Mon, 16 Dec 2024 21:56:16 GMT

NEW YORK (AP) — Stocks are falling Tuesday as shares of beleaguered banks tumble again and worries about a possible recession worsen. Rising fear has Treasury yields sinking in the bond market, as Wall Street also waits for the Federal Reserve’s latest move on interest rates and Washington edges closer to what would be a catastrophic default on U.S. government debt. The S&P 500 was 1.6% lower, with losses accelerating as the morning progressed. The Dow Jones Industrial Average was down 520 points, or 1.5%, at 33,531, as of 11 a.m. Eastern time, while the Nasdaq composite was 1.4% lower. Some of the sharpest drops came from smaller- and mid-sized banks, which have been under heavy scrutiny as the banking system shows cracks under the weight of much higher interest rates. PacWest Bancorp dropped 36.1%, Western Alliance Bancorp fell 24.2% and Comerica dropped 11.6%. Three of the four largest U.S. bank failures in history have come in quick succession since March, and investors have...

CPKC railway hit with violation notice after derailment in Maine

Published Mon, 16 Dec 2024 21:56:16 GMT

MONTREAL — State authorities in Maine have hit Canadian Pacific Kansas City Ltd. with a violation notice over fallout from its cleanup efforts after a freight train went off the tracks last month.On April 15, a CPKC train hit a track washout in a wooded area near Moosehead Lake in northwestern Maine, some 220 kilometres southeast of Quebec City, setting several cars ablaze.Government officials say they sent a notice of violation to the railway after heavy construction equipment deployed to access the crash site crushed culverts and caused a significant amount of sediment to enter streams, in violation of a pollution control law.Melanie Loyzim, commissioner of the state’s Department of Agriculture, Conservation and Forestry, sent a second letter instructing CPKC to implement erosion control measures immediately.CPKC said last month that locomotives and four derailed lumber cars went up in flames, with crews using booms — absorbent, tubelike barriers — to contain spilled diesel ...

Illinois State Police update after at least 6 dead, more than 30 hospitalized in I-55 crash

Published Mon, 16 Dec 2024 21:56:16 GMT

DIVERNON, Ill. (AP) — Both lanes of I-55 reopened Tuesday morning hours after a windstorm in central Illinois causing numerous crashes that killed at least six people Monday, police said.Six people were killed in a 72-car pileup late Monday morning near mile marker 76, between Diveron and Farmersville, about 20 miles south of Springfield. Multiple tractor-trailers were among the vehicles involved, two of which caught fire, Illinois State Police Maj. Ryan Starrick said.More than 30 people on both sides of I-55 were transported to hospitals with injuries.Authorities held a news conference Tuesday morning and said they are seeking the public's help to identify two of the victims killed in the crash. State police believe one person was driving a blue Chrysler 300 and one person was driving a Hyundai, color not known. Anyone with any information is asked to call authorities at 618-346-3653. ISP needs help identifying two adult victims from the crash on I-55 Monday. One victim was driving...