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How will we know if the US economy is in a recession?

Published Sat, 28 Dec 2024 04:54:43 GMT

WASHINGTON (AP) — The government’s report Thursday that the economy grew at a 1.1% annual rate last quarter signaled that one of the most-anticipated recessions in recent U.S. history has yet to arrive. Many economists, though, still expect a recession to hit as soon as the current April-June quarter — or soon thereafter. The economy’s expansion in the first three months of the year was driven mostly by healthy consumer spending, yet shoppers turned more cautious toward the end of the quarter. Businesses also cut their spending on equipment, a trend that has continued. The list of obstacles the economy faces keeps growing. The Federal Reserve has raised its benchmark interest rate nine times in the past year to the highest level in 17 years, thereby elevating the cost of borrowing for consumers and businesses. Inflation has eased slowly but steadily in response. Yet price increases are still persistently high. And last month the collapse of two large banks resulted in a whole ...

TotalEnergies sells Canadian operations to Suncor in deal worth up to $6.1B

Published Sat, 28 Dec 2024 04:54:43 GMT

CALGARY — French company TotalEnergies says it has signed a deal to sell its Canadian operations to Suncor Energy Inc. in an agreement worth up to $6.1 billion.Under the deal, Suncor will pay $5.5 billion in cash, plus up to an additional $600 million that is conditional on Western Canadian Select benchmark oil pricing and certain production targets.“This transaction represents a major step in securing long-term bitumen supply to our base plant upgraders at a competitive supply cost,” Suncor chief executive Rich Kruger said in statement.“These are valuable oilsands assets that are a strategic fit for us and add long-term shareholder value.”TotalEnergies EP Canada Ltd. holds a 31.23 per cent working interest in the Fort Hills oilsands project and a 50 per cent working interest in the Surmont in situ asset. The agreement means that Suncor will own 100 per cent of Fort Hills.Surmont is operated by ConocoPhillips Canada which holds the other 50 per cent stake. Under the terms of t...

Firearms official, gun club probed over Hamburg shooting

Published Sat, 28 Dec 2024 04:54:43 GMT

BERLIN (AP) — German prosecutors said Thursday they are investigating an official at Hamburg’s firearms department and three members of a gun club in connection with a mass shooting during a religious service at a Jehovah’s Witness hall last month.A 35-year-old German man opened fire during the March 9 service, killing six people and wounding nine, including a pregnant woman who lost her unborn child, before turning the gun on himself as police arrived.Hamburg prosecutors said authorities searched the homes of an official at the city’s firearms department and of three members of the Hanseatic Gun Club that the attacker — identified only as Phillipp F. due to German privacy rules — had been part of.Prosecutors said the firearms official is being investigated on suspicion of negligent homicide for failing to properly document and forward information about the gunman’s psychological state that he had received from F’s family, via a member of the gun club.B...

Unlicensed driver arrested, charged with impairment in fatal Etobicoke crash

Published Sat, 28 Dec 2024 04:54:43 GMT

An unlicensed and alleged impaired driver is facing several charges following a fatal crash in Etobicoke last week.Police were called to the intersection of Finch Avenue and Albion Road just after 11 p.m. on April 18 for a collision involving four vehicles.Investigators said the vehicles were travelling southbound on Albion when the driver of a 2018 Nissan Altima lost control and struck another vehicle. A third and fourth vehicle then became involved in the crash.The driver of the vehicle that was initially hit, a 65-year-old woman, was pronounced dead at the scene. Relatives said she was driving home from mosque after evening prayers.Two other women, including the driver of the Nissan, were taken to hospital with serious but non-life-threatening injuries. Another person was treated for minor injuries at the scene.Police arrested the unlicensed driver of the Nissan Altima on Thursday. Tara MacMunn, 38, of Toronto is facing several charges including impaired driving causing death.Mac...

Finnish center-right to start coalition talks with far-right

Published Sat, 28 Dec 2024 04:54:43 GMT

HELSINKI (AP) — The head of Finland’s conservative National Coalition Party, which came first in April 2 elections, said Thursday he would start talks to form a center-right coalition government that would see power-sharing with a far-right anti-immigration party.After weeks of sounding out all parties represented in Parliament, NCP leader Petteri Orpo said he had picked the far-right Finns, the Christian Democrats and the Swedish People’s Party of Finland for coalition talks.“We have big challenges and we must make difficult decisions,” Orpo told a news conference, adding that the new Cabinet needs to make budget cuts and conduct financial and other reforms in the European Union and NATO member state.“I have a strong belief that with these parties we can really achieve those reforms and that even in difficult times, even in surprising situations, there is a common spirit, a common glue to solve things,” Orpo said.NCP, Finland’s main conservative party, claimed victory in the ...

School bus crashes into home in Western Springs

Published Sat, 28 Dec 2024 04:54:43 GMT

WESTERN SPRINGS, Ill. — A school bus crashed into a home to avoid hitting animal in Western Springs Thursday morning. According to a Western Springs spokesperson, the incident took place around 6:30 a.m. when the bus drove into a house near the 3800 block of Hampton Avenue in an attempt to avoid hitting an animal. Chicago hires consulting firm to help with search for next top cop Th spokesperson said the driver was the only one on the bus and that the damage to the home was not structural in nature. The driver was transported to a local hospital for evaluation as a precaution.

Logan Square liquor store robbed at gunpoint by 2 masked men: police

Published Sat, 28 Dec 2024 04:54:43 GMT

CHICAGO — Chicago police are searching for two men who robbed a liquor store in the city's Logan Square neighborhood.The incident happened just after 10 p.m. Wednesday in the 3500 block of West Fullerton Avenue. Police said two men wearing ski masks entered the liquor store with handguns and announced a robbery.The men took an unknown amount of money from the clerk and also robbed a customer of his belongings before fleeing in a white Volkswagen sedan.No one is in custody. Area Five detectives are investigating.

Car plows into backyard pool during hit-and-run crash in Las Vegas

Published Sat, 28 Dec 2024 04:54:43 GMT

LAS VEGAS (KLAS) – The owner of a home in Las Vegas had unwelcome visitors Tuesday afternoon after a car crashed into the backyard swimming pool.The car was removed from the empty pool hours after the crash on Tuesday, April 25. 2023. (Credit: Bradley Thacker)Residents who spoke to Nexstar's KLAS said two suspects fled the scene after plowing a Kia Optima through a backyard wall in the 3200 block of Robin Circle, near Harmon Avenue and Pecos Road. Officers with the Las Vegas Metropolitan Police Department responded to the scene of the accident after getting a call around 1:32 p.m. Tuesday. As of Wednesday afternoon, no arrests had been made.An investigation is ongoing, police said.The crashed car was removed from the empty pool hours after the crash on Tuesday. (Credit: Bradley Thacker)Danielle Biller, who lives two doors down, said she saw two boys who appeared to be teenagers running away after the crash.“I was sitting in the backyard. I heard a big screech and then a big boo...

Dean's Reviews: 'School Of Rock'

Published Sat, 28 Dec 2024 04:54:43 GMT

Dean reviews the play 'School Of Rock' coming to the Chicagoland area this weekend.Get Dean's reviews and A-List interviews delivered right to your inbox. Sign up for Dean's Downloads weekly newsletter. You'll also get his Dean Cooks recipes too!

Melatonin levels in some gummies don't match label, study finds

Published Sat, 28 Dec 2024 04:54:43 GMT

(The Hill) -- A new study has revealed that melatonin gummies advertised to help with sleep may have potentially harmful levels of the hormone, as well as cannabidiol (CBD) that was not labeled on the packaging. A study published Wednesday in the medical journal JAMA investigated 25 different gummy brands that were labeled with "melatonin" and were also listed in the National Institutes of Health’s Dietary Supplement Label Database. The study found that 88 percent of the gummies investigated were inaccurately labeled, with only 12 percent containing within 10 percent of the quantity that was labeled.One of the products that was labeled as including melatonin was actually found to have no traces of the hormone but contained 31.3 milligrams of CBD. The amount of CBD found across all the products ranged from 10.6 to 31.3 milligrams, but only five products included CBD in the label. The study found that the "actual quantity" of  CBD in the gummies ranged from 104 to 118 percent of ...