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More Canadians to feel pinch of high rates in 2024, making way for lower inflation

Published Fri, 07 Feb 2025 17:39:36 GMT

OTTAWA — As another inflation-fighting year wraps up, the Bank of Canada’s quest to restore price stability is expected to begin drawing to a close in 2024.The central bank’s hefty rate hikes are finally bearing fruit, allowing it to hold its key interest rate steady at five per cent over the last few months. Higher borrowing costs have caused a pullback in business investment and consumer spending, making way for lower inflation. The economic slowdown is expected to lay the groundwork for interest rate cuts as early as mid-2024, which would signal a turning point in the fight against inflation.Desjardins’ chief economist says although the central bank’s rate hikes have helped get a handle on inflation, a lot of the slowdown in price growth has also come from global price pressures easing.“We’re looking at inflation 3.1 per cent, now much less stressful than it was a year ago,” said Jimmy Jean, chief economist at Desjardins. &...

Man dead due early morning to fire near The Stockyards

Published Fri, 07 Feb 2025 17:39:36 GMT

A man has died due to a fire near The Stockyards early Sunday morning.Fire crews were called to McCormack Street, near Weston Road and St. Clair Avenue West, at approximately 4:08 a.m. for reports that several tractor trailers were on fire.“In the course of firefighting and search and rescue operations, one person was located inside a storage trailer adjacent to the fire,” said Toronto Fire Chief Matthew Pegg on X.The victim, a man in his 40’s, was transferred to the care of Toronto medics but succumbed to his injuries at the scene.Police and the Office of the Fire Marshal are investigating the origin, cause and circumstances of the fire.I am on scene with @Toronto_Fire crews on McCormack Street. The investigation into the origin, cause&circumstances of this fire is underway in collaboration with @TorontoPolice and @ONFireMarshal. Sincere condolences to family, friends and all those impacted by this tragic fire.— Matthew Pegg (@ChiefPeggTFS) December 24, ...

Iran summons Russian envoy over statement on Persian Gulf disputed islands

Published Fri, 07 Feb 2025 17:39:36 GMT

DUBAI, United Arab Emirates (AP) — Iran summoned Russia’s charge d’affaires after Moscow and Arab countries released a joint statement earlier this week challenging Iran’s claim to disputed islands in the Persian Gulf, state media reported Sunday.Iran’s official IRNA news agency said the Russian envoy was summoned on Saturday and handed a note to deliver to Moscow in which Tehran protested the statement the 6th Arab-Russian Cooperation Forum issued in Morocco that called for a peaceful solution to resolve the conflict between Iran and the United Arab Emirates over the islands.Earlier on Saturday, Iran’s foreign minister Hossein Amirabdollahian told his Russian counterpart over the phone that “respecting countries’ sovereignty and integrity is among basic principles in the ties between nations,” IRNA said in a separate report.This marked the second time this year that Iran has called for a Russian envoy in protest over comments on the disputed islands. Tehran summon...

Several flights canceled at Chicago Midway International Airport due to fog

Published Fri, 07 Feb 2025 17:39:36 GMT

CHICAGO — Several flights departing from Chicago's Midway International Airport have been canceled on Christmas Eve morning due to the fog.There is a dense fog advisory in the area until 9 a.m. Latest warnings and watches from the National Weather Service.As of 6:30 a.m., visibility at Midway was .5 miles. Visibility at Chicago's O'Hare International Airport is 5 miles.At 7:20 a.m., a ground stop was issued at Midway.Several Southwest Airlines and Frontier flights are canceled through 9 a.m.On Saturday evening, a ground stop was issued at Midway due to the fog.Southwest released the following statement to WGN-TV.We’re working with our Customers whose travel is impacted by fog at Chicago Midway that began Saturday night and prevented inbound aircraft from landing, forcing some diversions and subsequent flight cancelations. With visibility remaining below required operational minimums throughout the night and expected to continue through daybreak, we’ve modified our planned ...

Person found dead in alley in Portage Park

Published Fri, 07 Feb 2025 17:39:36 GMT

CHICAGO — A person was found dead in an alley late Saturday night in Portage Park, police said.The person, a male, was found dead around 11 p.m. in the 5800 block of West Belmont. Man shot after pulling knife during fight at Red Line station The cause of death is still under investigation.Anyone with information should contact Area Five detectives.Additional details haven't been released.

Thousands of gallons gush from Travis County water tower on multiple occasions

Published Fri, 07 Feb 2025 17:39:36 GMT

AUSTIN (KXAN) – The irony was not lost on David Way.While he methodically worked to save an oak tree in his front yard by using a soaker hose on his designated watering day, water, on a few occasions, was gushing from a water tower just feet away from his western Travis County home. Texas neighbors lived in limbo with dozens of holes inside homes “My guess is untold thousands of gallons,” Way said. “The waste of water in this time of drought.” David Way recorded this footage in early December of water overflowing from a tank at the foot of a Travis County Water District 10 water tower (Courtesy: David Way).“It's simply not OK to let that keep happening,” he added.Way recorded one of the overflows on his phone. His footage showed water running out of the top of what appears to be a concrete overflow tank at the base of the water tower. The video showed the water running into the street. Austin Water leader responds to KXAN Investigation over custome...

Home values in Texas dropped this year for the first time since 2011, Zillow data shows

Published Fri, 07 Feb 2025 17:39:36 GMT

AUSTIN (KXAN) — Home values in Texas fell in 2023 for the first time in more than a decade, according to data from Zillow.The value of a typical home in the state dropped by about $2,912 between Dec. 31, 2022 and Nov. 30, 2023, a decrease of 0.97%. Nationwide, the typical home increased in value by 2.5% during the same time frame.As of Nov. 30, a typical home in Texas is worth $296,127.27, down from $299,039.22 at the start of the year.Home values in Texas haven't dropped since 2011, when they fell by 2.5% statewide. This year's drop comes after two years of double-digit percentage increases in home values. A typical home increased in value by 17.8% in 2021, and a further 11.8% in 2022.Zillow's "Home Value Index" (ZHVI) is a seasonally adjusted measure of the typical home value in any given area. According to Zillow, the index reflects the typical value for homes in the 35th to 65th percentile range.The map below shows the typical home value in counties across Texas as of Nov. 30.Ke...

It's raining

Published Fri, 07 Feb 2025 17:39:36 GMT

AUSTIN (KXAN) -- Showers and thunderstorms overnight continue this morning with the majority of the heavier downpours along and west of I-35. Rain totals have been very impressive with many locations up to one inch-plus and a few stations in Burnet County with over two inches. CENTRAL TEXAS RADAR The rain will continue to move to the east this morning ahead of a front that will leave a west wind for the afternoon. By the time the rain ends out of eastern counties early this afternoon there will be many more reports of more than one inch of a generous rain.Non-severe thunderstorms drop generous rainsNo severe weather is anticipated today although we did see a few lightning strikes during the 6:30 to 7:00 a.m. time frame in some of the thunderstorms between Jarrell and Austin. There may also be a few gusts within the thunderstorms.The end of the rain is followed by decreasing clouds. In fact, when the sun goes down at 5:36 the sky will be sunny.Another cold front arrives tonight de...

Maggie Mulqueen: Here’s how we can show up for others during a hard time

Published Fri, 07 Feb 2025 17:39:36 GMT

Over and over again in my psychotherapy practice, I hear the lament, “I don’t know what to say.” When heartbreaking events happen on either a personal or public scale, such as a medical diagnosis or mass shooting, there is a need for people to show up in some capacity to help, be it to lend emotional support or provide direct care. Unfortunately, many people find themselves paralyzed or, worse, pulling away from the grieving person out of a sense of inadequacy.Our failures to show up in words or deeds for friends, family or communities have lasting implications not only for these relationships but also society as a whole. In our broken world, we need to enhance our connections, not shrink from them. Developing the skills to support people in pain is an estimable endeavor.The first and most important thing to remember about showing up is that at its core, it is an offer to listen to another person. Showing up can be as much, if not more, about listening as it is abo...

Letters: No snow, no woods nearby, but reminded nonetheless of Frost’s famous poem

Published Fri, 07 Feb 2025 17:39:36 GMT

To walk in beautyRecently while walking down St. Paul’s Summit Avenue one chilly evening, I am reminded of Robert Frost’s poem, “Stopping by Woods on a Snowy Evening.” There are no woods near, but rather homes adorned with bows and greens, and lights glowing brightly. And there is no snow.What strikes me is the quiet and calm, similar to that conveyed in Frost’s poem. I do have miles to go before I sleep, and feel fortunate that I am able to walk surrounded by such silent beauty. Also, my hope is that the world becomes such that everyone has the opportunity to walk in beauty and peace.Ursula Krawczyk, St. Paul End-of-life compassionBurt Riskedahl’s letter about having the personal freedom to end his life after being diagnosed with Stage 4 cancer touched me deeply (“A plea before dying — on behalf of those who might need it,” Dec. 17).Imagine yourself being in his shoes, knowing you only have a few months to live. When I try to do ...