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☆ Lee weakens to post-tropical cyclone, knocks out power as it nears Atlantic coast
▼ + stars: | 2023-09-16 | by ( John Morris | ) www.reuters.com time to read: +3 min

[1/3] A man walks near a large lawn chair that was tipped over, after Hurricane Lee was downgraded to a post-tropical storm and started to impact Shelburne, Nova Scotia, Canada, September 16, 2023. REUTERS/John Morris Acquire Licensing RightsSHELBURNE, NOVA SCOTIA Sept 16 (Reuters) - The Lee storm system weakened into a post-tropical cyclone as it closed in on New England and Atlantic Canada on Saturday, producing hurricane-force winds that knocked out power to more than 100,000 people. Strong winds, coastal flooding and heavy rains were already occurring in parts of New England and Atlantic Canada, it added. In the Canadian province of Nova Scotia, more than 100,000 people were without power early on Saturday after high winds brought down trees. Lee has been churning as a large hurricane over the Atlantic for more than a week, briefly threatening Bermuda but mostly harmless for anyone on land.

Persons: Hurricane Lee, John Morris, Lee, Crews, Matt Drover, Joe Biden, Karine Jean, Pierre, Fiona, David Ljunggren, Idrees Ali, Daniel Trotta, Brendan O'Brien, Kim Coghill, Mike Harrison, Diane Craft Organizations: REUTERS, NOVA, Atlantic Canada, The U.S, National Hurricane Center, Nova, Canadian Hurricane Center, U.S, Thomson Locations: Shelburne, Nova Scotia, Canada, New England, Atlantic, The, Halifax Nova Scotia, Atlantic Canada, Canadian, of Nova Scotia, New Brunswick, Halifax, Fundy, Maine, Massachusetts, Bermuda, Ottawa, Washington, Carlsbad , California, Chicago

☆ Hurricane Lee churns toward New England, eastern Canada
▼ + stars: | 2023-09-15 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

Sept 14 (Reuters) - Hurricane Lee barreled across the North Atlantic toward New England and Eastern Canada on Friday, threatening to bring drenching rains, powerful winds and a life-threatening storm surge to the region over the weekend. Lee is expected to weaken into a strong tropical storm before making landfall in southwestern Nova Scotia as a strong tropical storm late on Saturday, the Canadian Hurricane Center said. In Canada, more than 1 million people in Nova Scotia and eastern New Brunswick were also under a tropical storm warning as the massive storm crawls northward over the open waters of the Atlantic. Some spots, such as Cape Cod in Massachusetts and eastern Halifax County in Nova Scotia may see storm surge of up to 3 feet (91 cm), forecasters said. Lee is the latest storm in what is proving to be a busy hurricane season that has featured a higher-than-average number of named storms.

Persons: Lee, Michelle Wu, Hurricane Idalia, Idalia, Brendan O'Brien, Mark Porter Organizations: Canadian Hurricane Center, U.S, Boston, U.S . National Weather Service, NWS, Facebook, Hurricane, Thomson Locations: New England, Eastern Canada, Nova Scotia, Connecticut , Rhode Island , Massachusetts, New Hampshire, Maine, Canada, New Brunswick, Cape Cod, Massachusetts, Halifax County, Nantucket, Florida, Georgia, Chicago

As Hurricane Lee churned closer to coastal New England on Friday, with winds expected to intensify by nightfall, cruise ships sought refuge in Portland, Maine, and homeowners in Provincetown, Mass., piled sandbags. An arborist in Halifax, Nova Scotia, fielded dozens of calls from residents expecting tree damage. Yet, like others in a region accustomed to powerful nor’easters, if not hurricanes, Mr. Crobar was not particularly fazed by what was coming. “We like to sensationalize the weather, but it’s just a natural part of the earth,” he said. The storm was expected to make landfall in the Canadian province of New Brunswick late on Saturday, but forecasters said its sprawling size meant that severe effects would be felt in New England, too.

Persons: Lee, John Crobar, Crobar, ” Locations: New England, Portland , Maine, Provincetown, Mass, Halifax , Nova Scotia, Sandwich, Cape Cod, Canadian, New Brunswick

TAIPEI, Taiwan (AP) — The U.S. and the Canadian navies sailed two warships through the Taiwan Strait on Saturday, in a challenge to China's sweeping territorial claims. The USS Ralph Johnson and the Royal Canadian Navy Halifax-class frigate HMCS Ottawa sailed through the narrow band of ocean that separates China and self-ruled Taiwan, according to the U.S. Navy’s 7th Fleet. The cruisers “transited through a corridor in the Strait that is beyond the territorial sea of any coastal state,” the Navy statement said. China has stepped up its military activities around Taiwan, including sending warships and warplanes on a near daily basis. Political Cartoons View All 1148 ImagesIn June, the U.S. released a video in which a Chinese navy ship cut sharply across the path of an American destroyer, forcing the U.S. vessel to slow to avoid a collision.

Persons: Ralph Johnson, ”, Shi Yi Organizations: Canadian, Royal Canadian Navy Halifax, Navy’s, U.S . Navy, Navy, U.S, People Liberation, Command Locations: TAIPEI, Taiwan, U.S, Taiwan Strait, Ottawa, China, Beijing, American, Canadian

Fresh data on Thursday reinforced the extent of the U.K.'s house price slide this summer, with August prices down by 1.9% on the previous month, the steepest decline since November. The figures are from mortgage lender Halifax and follow prior surveys showing a sharp slowdown from Zoopla and Rightmove. House prices were 4.6% lower year-on-year, the biggest drop since 2009, largely due to the record high property prices seen in summer 2022 — though the average price is still £40,000 ($49,992) above its pre-pandemic level. "It's fair to say that house prices have proven more resilient than expected so far this year, despite higher interest rates weighing on buyer demand," said Kim Kinnaird, director at Halifax Mortgages. "However, there is always a lag-effect where rate increases are concerned, and we may now be seeing a greater impact from higher mortgage costs flowing through to house prices."

Persons: Kim Kinnaird, — Jenni Reid Organizations: Halifax Locations: Halifax

☆ UK house prices fall by most since 2009 as rate rises bite
▼ + stars: | 2023-09-07 | by ( David Milliken | ) www.reuters.com time to read: +2 min

Halifax said house prices were 4.6% lower last month than in August 2022, when they were close to their peak. "House prices have proven more resilient than expected so far this year.... The Bank of England has raised interest rates 14 times since December 2021, taking rates to 5.25% in August. Rival mortgage lender Nationwide reported last week that house prices in August were 5.3% lower than a year earlier. Imogen Pattison, assistant economist at Capital Economics, said the bigger-than-expected fall in Halifax house prices supported the consultancy's forecast that house prices would drop a total of 10.5% by mid 2024.

Persons: Phil Noble, Halifax, Kim Kinnaird, Andrew Bailey, Imogen Pattison, David Milliken, Paul Sandle, Emelia Organizations: REUTERS, Halifax, Lloyds Banking Group, Bank of England, Nationwide, Capital Economics, Thomson Locations: Manchester, Britain, Halifax

☆ Take Five: A September to remember?
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. 1/ SCARY SEPTEMBERNow the Federal Reserve's Jackson Hole confab is over, investors are strapping in for a potentially volatile month. Reuters Graphics2/ THE SICK MAN OF EUROPEGermany looks likely to be the only major economy to contract this year. No wonder the region's economic powerhouse is once again being called the sick man of Europe. But economists are sceptical, noting that at just 0.2% of GDP, the package is no game-changer and that the sick man will need more medicine.

Persons: Brendan McDermid, Ira Iosebashvili, Kevin Buckland, Dhara Ranasinghe, Libby George, Naomi Rovnick, Jackson, Jerome Powell, Olaf Scholz, Xi Jinping, Philip Lowe, Michele Bullock, BoE, Amanda Cooper, John Stonestreet Organizations: New York Stock Exchange, REUTERS, Federal, Reuters, ECB, Germany's, Reserve Bank of Australia, Traders, Bank of, British Retail Consortium, Reuters Graphics, Thomson Locations: New York City, U.S, Ira, New York, Tokyo, London, Germany, Europe, Pakistan, Sri Lanka, Ghana, Zambia, Delhi, China, Bullock, Bank of England, Halifax

☆ In a Storied River, Fish Are Dying in Droves as Climate Change Scorches Canada
▼ + stars: | 2023-08-30 | by ( Norimitsu Onishi | More About Norimitsu Onishi | ) www.nytimes.com time to read: +1 min

The salmon were once so plentiful in the river that old-timers talk about having been able to cross on the backs of fish so thick they were like steppingstones. Such was the renown of the Cowichan River, flowing east on Canada’s Vancouver Island, that its fly-fishing conditions were posted in fishing clubs in London. Local scientists suspect the bigger culprit is climate change, which has contributed to the decline of salmon populations in British Columbia by increasing droughts and heat waves. In a summer of global catastrophes for Canada, climate change has been felt across this vast country — from Cowichan Valley on the Pacific Coast to Halifax on the Atlantic, from the long border with the United States to the remotest towns above the Arctic Circle. But if the world has been consumed with the fires raging across Canada’s forests, turned into tinderboxes from the effects of climate change, the plight of the river has hit close to home in Cowichan Valley.

Persons: John Wayne, Bing Crosby Locations: Cowichan, London, Cowichan Bay ., Canada, British Columbia, Cowichan Valley, Halifax, United States, tinderboxes

But signs of a slowdown are mounting, highlighting the BoE's dilemma as it continues to grapple with inflation. But the BoE looks set to keep on raising rates with inflation still more than three times its 2% target. Below are key readings of Britain's economy that the BoE will assess before its next scheduled announcement on interest rates on Sept. 21. But many analysts expect the lagged impact of the BoE's rate rises to hit spending soon, adding to the drag on the economy. Many economists think the delayed impact of higher interest rates and still elevated inflation will hit growth in the coming months.

Persons: Dado Ruvic, BoE, Andrew Bailey, GfK, Sumanta Sen, Devika Organizations: REUTERS, Bank, Bank of England, Brexit, P, CIPS, Nationwide, Halifax, Reuters Graphics LABOUR, Employers, European Union, Reuters, Reuters Graphics, Thomson Locations: Britain

☆ A fast-food restaurant splashed out $12,000 on a bizarre sandwich costume that was auctioned off by a provincial government
▼ + stars: | 2023-08-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

A Canadian restaurant spent nearly $12,000 on a donair-sandwich costume in an Alberta government auction. CBC reported that the costume was made for a traffic-safety video but was never worn. It was eventually won by 25-store Alberta chain PrimeTime Donair and Poutine, which made the winning bid of CA$16,025. Other donair stores, including the King of Donair, Blowers & Grafton, and Swiss Donair, also placed bids, auction records showed. The listing said the costume was made from various latexes, vulcanized rubbers, and synthetic materials, and had adjustable shoulder straps.

Persons: Adil Asim, Donair, Peter Gamalakos, Gamoulakos Organizations: CBC, Service, CTV News, Canadian, Food Network, Halifax Locations: Alberta, Wall, Silicon, Grafton, Swiss, Canadian, Edmonton

☆ Asking prices for UK homes drop sharply - Rightmove
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Toby Melville/File photo Acquire Licensing RightsLONDON, Aug 21 (Reuters) - Asking prices for homes in Britain fell sharply this month as rising mortgage costs caused sellers to lower their expectations of what they can get for their properties, an industry survey showed on Monday. Website Rightmove said average asking prices for homes dropped by 1.9%, the biggest monthly fall for August since 2018 and twice as steep as the usual summertime fall. Mortgage lenders Nationwide and Halifax both previously reported falls in selling prices in July. Rightmove's survey also showed the number of home sales was down 15% compared with 2019, before the pandemic. Average asking prices for homes were 2% below their peak in May but, reflecting the surge in demand during the pandemic, remained 19% higher than in August 2019, Rightmove said.

Persons: Toby Melville, Rightmove, William Schomberg, Suban Abdulla Organizations: REUTERS, Bank of England, Nationwide, Halifax, Homes, Thomson Locations: Bristol, Britain

☆ How Do You Deal With a Windfall in Your 20s?
▼ + stars: | 2023-08-19 | by ( Caitlin Kelly | ) www.nytimes.com time to read: +1 min

Roach, who uses they/them pronouns, still shares an apartment with their brother despite having more than enough money to buy a house. Roach, 24, the youngest ever “Jeopardy” super-champion, the $560,983 in winnings has done little to change how they live their daily life. Despite the popular fantasy that a sudden financial windfall — whether a game-show win, an inheritance or a lawsuit settlement — will radically change a young person’s life, it’s not a guarantee. It does, of course, for some, allowing them to buy a house or adventure around the world at a young age. But for those who receive money after losing a loved one or who are learning to manage large sums of money for the first time, a windfall can feel overwhelming.

Persons: Mattea Roach, haven’t, it’s, “ School’s, ”, “ Organizations: Roach Locations: Toronto, Halifax , Nova Scotia

I couldn't afford the Iceland trip and I knew it. See Insider's picks for the best credit cards with primary rental car insurance »I wasn't ready for the billBut wait, didn't we buy car insurance? I had already spent close to $2,000 on the Iceland trip between airfare, Airbnb, the car rental and general food and fun costs. I called my car insurance company, Ariel's car insurance company, and Budget's head office. I even bought a calling card so I could ring up Budget Iceland and try to negotiate with them!

Persons: Ariel, I, I've Organizations: Service, Budget Locations: Iceland, Wall, Silicon, Reykjavík, Halifax, airfare

☆ UK house prices fall for 4th month but market shows resilience - Halifax
▼ + stars: | 2023-08-07 | by ( William Schomberg | ) www.reuters.com time to read: +3 min

But the decline in house prices has so far been small compared with the surge in valuations during the COVID pandemic. Kim Kinnaird, director of Halifax Mortgages, said house prices were likely to continue falling into next year, echoing previous comments by the lender. A Reuters poll of analysts published in early June pointed to a 3% fall in house prices in 2023 before flat-lining in 2024. This should leave house prices 10.5% below their peak on the Nationwide measure." Nationwide, another mortgage lender, said last week its index of house prices fell by the most since 2009 in the 12 months to July.

Persons: Susannah Ireland, Kim Kinnaird, Kinnaird, Imogen Pattison, William Schomberg, Kate Holton, Bernadette Baum Organizations: City of, REUTERS, Halifax, Bank of England, Capital Economics, Nationwide, Thomson Locations: City, City of London, South London, Britain, Halifax

☆ This couple are driving around the world in a Land Rover together
▼ + stars: | 2023-08-04 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +9 min

“It all started with a road trip in Belgium,” says 29-year-old Chazee, who was born in Thailand. Shared dreamNicolas Chazee and Mathilde Vougny are driving around the world in a Land Rover Defender named Albatross. Epic adventureVoughny, seen in Finland, says that she and Chazee thought their dream road trip was "unachievable" until they began researching it. “People joke that if you have a Land Rover, you’re also going to end up being a mechanic,” says Chazee. Next Meridian ExpeditionAside from the car problems, the couple say that the extreme weather conditions they’ve experienced have been among their biggest challenges so far.

Persons: Nicolas Chazee, Mathilde Vougny, ”, “, we’ve, ’ ”, they’d, Chazee, Vougny, ” Vougny, who’ve, they’ve, They’ve, you’re, I’ve, I’m, ” Chazee, he’s, they’ll, Next Meridian Expedition They’ve Organizations: CNN, Rover, Meridian Expedition, Rover Defender, Next Meridian, YouTube, Central America, “, Next, Next Meridian Expedition Locations: Brussels, Belgium, Thailand, Europe, France, Finland, Luxembourg, Netherlands, Germany, Denmark, Iceland, Sweden, Norway, Halifax, Canada, Alaska, Wyoming , Colorado , Utah, Arizona, California, Mexico, Belize, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Colombia, Ecuador, Peru, Australia, Chile, “, Central America, USA, Argentina, Antarctica, Asia, Africa

☆ Bank of England caught between inflation fight and recession risk
▼ + stars: | 2023-08-02 | by ( William Schomberg | ) www.reuters.com time to read: +5 min

A woman carrying a Union Flag umbrella stands near the Bank of England in the City of London, Britain, July 30, 2023. Analysts and investors are mostly expecting a quarter-point increase in Bank Rate, taking it to a 15-year high of 5.25%. But they also say they must quash an inflation rate that is the highest among major economies. INFLATION THREATBritish consumer price inflation fell by more than expected in June to 7.9% in annual terms, down sharply from 8.7% in May. Reuters GraphicsHOUSING MARKETThe most obvious impact of the increase in the BoE's Bank Rate from 0.1% in December 2021 to the current 5.0% has been in the housing market.

Persons: Adams, BoE, Andrew Bailey, Bailey, GfK, Sumanta Sen, Kripa Jayaram, Vincent Flasseur, Tomasz Janowski Organizations: Flag, Bank of England, City of, REUTERS, Analysts, Reuters, Nationwide, Halifax, insolvencies, Reuters Graphics LABOUR, Reuters Graphics Reuters, Reuters Graphics, Thomson Locations: City, City of London, Britain, BoE's, England, Wales, Germany

☆ A Dusty Fast-Food Costume Sets Off a Very Canadian Bidding War
▼ + stars: | 2023-07-26 | by ( Lauren Mccarthy | More About Lauren Mccarthy | ) www.nytimes.com time to read: +1 min

“There’s nothing like it, there really isn’t,” he said. Mr. Robinson, 35, is among dozens of people who have placed bids on an adult-size donair costume that is being auctioned off by the provincial government of Alberta in what has become an unlikely demonstration of the Halifax-born street food’s growing popularity across Canada. Bidding for the costume opened on July 14 at 50 Canadian dollars, or about $38. By Wednesday, bidders had pushed the price to just over 16,000 Canadian dollars, or roughly $12,000, with weeks to go before the online auction ends on Aug. 14. Mr. Robinson, a co-founder and owner of Blowers and Grafton, a chain of restaurants with six locations in Alberta that specializes in “authentic Halifax street food,” said he was willing to pay that much, or more, for the suit.

Persons: Josh Robinson, ”, Robinson Locations: Halifax , Nova Scotia, pita, Alberta, Halifax, Grafton

[1/3] People embrace as they stand near damage to a road, after the heaviest rain to hit the Atlantic Canadian province of Nova Scotia in more than 50 years triggered floods, in Ellershouse, West Hants Regional Municipality, Nova Scotia, Canada July 23, 2023. REUTERS/John Morris/File PhotoOTTAWA, July 24 (Reuters) - Two of the four people missing after floods ripped through the Canadian Atlantic province of Nova Scotia over the weekend are dead, Premier Tim Houston said on Monday. The floods washed away roads, swamped buildings and damaged bridges and a Canadian National Railway (CNR.TO) track connecting with Halifax, Canada's fourth-largest port. Canadian National has already restored much of the damaged infrastructure, but some repairs will be delayed until the flood waters recede, company spokesman Scott Brown said. "With supply chains the reality is the longer the disruption lasts, the more severe the impact is," he said by phone.

Persons: John Morris, Tim Houston, Houston, Scott Brown, Lane Farguson, Farguson, David Ljunggren, Nia Williams, Aurora Ellis, Grant McCool Organizations: Atlantic, Ellershouse , West, Ellershouse , West Hants Regional, REUTERS, OTTAWA, Canadian, Monday, Police, Canadian National Railway, Canada's, Canadian National, U.S . Midwest, Thomson Locations: Atlantic Canadian, of Nova Scotia, Ellershouse ,, Ellershouse , West Hants, Ellershouse , West Hants Regional Municipality , Nova Scotia, Canada, Canadian Atlantic, Halifax, Europe, Asia, Ottawa, British Columbia

The market for e-bike delivery has grown dramatically in the past few years. Here's how startups, delivery companies, and city governments are improving safety. The explosion of delivery startups and e-bikes in the past few years has led to a new type of boom: increasing battery fires. "E-bike batteries are made up of a bunch of small batteries stacked together," Charlie Welch, ZapBatt's cofounder and CEO, said. JOCOOther startups, such as Popwheels, are engineering safe batteries that are compatible with the e-bikes delivery drivers already own.

Persons: —, Uber, Ravindra Kempaiah, Michael Pecht, Brian O'Connor, O'Connor, Charlie Welch, ZapBatt's, Welch, Jonathan Cohen, Grubhub, Jonathan A, Cohen, David Hammer, Hammer, Baruch Herzfeld, they've, We've Organizations: Bloomberg, Zen Electronics, University of Maryland, Fire Protection Association, UL Solutions, US Consumer Product Safety Commission, UL Locations: New York City, New York, Halifax , Nova Scotia, China, Carlsbad , California, Brooklyn , New York

CNN —Three months’ worth of rain over the course of one day has flooded the Canadian province of Nova Scotia since Friday night, inundating streets, forcing evacuations and leaving at least four people missing – including two children. “We have had biblical proportions of rain over the night and into the day,” Halifax Mayor Mike Savage said Saturday. A man wearing chest waders walks past cars abandoned in floodwaters in a mall parking lot in Halifax, Nova Scotia, on Saturday. Darren Calabrese/The Canadian Press/APNorthern and eastern Nova Scotia are expected to see more rain Saturday night, while the forecast predicts rain in the central, western and southern areas will ease, officials said. “It came fast and it came furious.”Much of central Nova Scotia has seen severe flooding that deluged roads, forced water rescues and left “significant” property damage Saturday, Houston said.

Persons: “, Mike Savage, Premier Tim Houston, Houston, ” Houston, Darren Calabrese, ”, Kelly Ash, Savage, Fiona, Justin Trudeau, ” Trudeau, Nova, Nova Scotians Organizations: CNN, Halifax, Canadian Press, AP, CNN Canadian, CBC, Twitter, Houston, Nova Scotians Locations: Canadian, of Nova Scotia, Halifax, East Hants, West Hants, Lunenburg, Queens, Premier, Halifax , Nova Scotia, Nova Scotia, Houston

☆ Nova Scotia wrestles with aftermath of devastating floods
▼ + stars: | 2023-07-23 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

[1/2] Water flows through a washed-out culvert on the main CN Rail line which leads to the port of Halifax, after the heaviest rain to hit the Atlantic Canadian province of Nova Scotia in more than 50 years triggered floods, in Truro, Nova Scotia, Canada July 23, 2023. Nigel Gloade/Millbrook First... Read moreJuly 23 (Reuters) - The Atlantic Canada province of Nova Scotia began cleaning up on Sunday after torrential rainfall caused devastating flooding, while the search continued for four people including two children who went missing during the deluge. CBC meterologist Ryan Snoddon said it was the most rain to hit the provincial capital Halifax since Hurricane Beth in 1971. The resulting floods washed away roads, weakened bridges and swamped buildings, in what Nova Scotia premier Tim Houston described as "unimaginable damage"Nova Scotia declared a province-wide state of emergency late on Saturday night that will last until Aug. 5. Nova Scotia Power's outage map showed just over 5,000 customers were without electricity on Sunday, down from around 80,000 at the height of the storms.

Persons: Nigel Gloade, Read, CBC meterologist Ryan Snoddon, Hurricane Beth, Tim Houston, Nia Williams, Andrea Ricci Organizations: Atlantic, CBC, Hurricane, Nova, Royal Canadian Mounted Police, Thomson Locations: Halifax, Atlantic Canadian, of Nova Scotia, Truro , Nova Scotia, Canada, Millbrook, Atlantic Canada, Nova Scotia, British Columbia

☆ Nova Scotia says dam could breach, tells residents to get out
▼ + stars: | 2023-07-22 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, July 22 (Reuters) - Torrential rains lashing the Canadian Atlantic province of Nova Scotia threatened to overwhelm a dam on Saturday and caused major damage in parts of Halifax, the largest city. The province's emergency office said a dam near the St. Croix River system could breach and told local residents to evacuate immediately. The alert covers a large part of central Nova Scotia. "Dam overflow - Evacuation order for the St. Croix river system area. Dam at risk of breaching," the province's emergency management office said in a message sent to cellphones.

Persons: Mike Savage, Bill Blair, David Ljunggren, Daniel Wallis Organizations: OTTAWA, St, Twitter, Federal Emergencies Management, Environment, Thomson Locations: Atlantic, of Nova Scotia, Halifax, St, Croix, Nova Scotia, Environment Canada, Canada, United States

OTTAWA, July 22 (Reuters) - The heaviest rain to hit the Atlantic Canadian province of Nova Scotia in more than 50 years triggered floods causing "unimaginable" damage, and four people are missing, including two children, officials said on Saturday. "We have a scary, significant situation," said Nova Scotia Premier Tim Houston, adding that at least seven bridges would have to be replaced or rebuilt. Authorities have declared a state of emergency in Halifax, the largest city in Nova Scotia, and four other regions. [1/7]Rescue personnel operates, in this video screengrab, in Bedford, Nova Scotia, Canada, July 21, 2023. Early on Saturday, authorities in northern Nova Scotia ordered residents to evacuate amid fears that a dam near the St. Croix River system could breach.

Persons: Nova Scotia Premier Tim Houston, Houston, Justin Trudeau, Mike Savage, Ryan Snoddon, David Ljunggren, Daniel Wallis, Richard Chang, Paul Simao Organizations: OTTAWA, Atlantic, Nova, Nova Scotia Premier, Authorities, Rescue, Halifax, Environment, Canadian Broadcasting Corp, Thomson Locations: Atlantic Canadian, of Nova Scotia, Nova Scotia, Toronto, Ottawa, Canada, United States, Halifax, Bedford , Nova Scotia, Houston, Environment Canada, St, Croix

☆ Asking prices for UK homes slip as Bank of England's rates rises bite, survey shows
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +2 min

Property website Rightmove said average asking prices of homes coming onto the market declined by 0.2% last month, compared with the 0% norm for this time of the year. Tim Bannister, director of property science at Rightmove, said stubborn inflation and further mortgage rate rises contributed to the fall in prices and number of agreed sales. "The interest-rate brakes being applied more strongly to slow the economy are now beginning to bite in the housing market," Bannister said. The central bank increased its Bank Rate by more than expected to 5% in June, pushing up the cost of mortgage borrowing. Average two-year fixed mortgage rates reached a 15-year high last week.

Persons: Rightmove, Tim Bannister, Bannister, Suban Abdulla Organizations: ., Nationwide, Halifax, Bank of England, Thomson Locations: Britain

☆ UK buyers retreat from housing market, further slowdown seen - RICS
▼ + stars: | 2023-07-12 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, July 13 (Reuters) - Britain's housing market showed signs of a slowdown in June and property surveyors expect activity to remain subdued as higher borrowing costs hit new buyer enquiries, according to an industry survey on Thursday. The Royal Institution of Chartered Surveyors (RICS) said a net balance of -45 in a poll of its members reported a fall in new buyer enquiries last month, down from the -20 in May. Britain's housing market faces pressure from softer buyer demand and falling house prices against a backdrop of surging mortgage rates and the Bank of England's battle to tame stubborn inflation. Average two-year fixed mortgage rates hit a 15-year high earlier this week. British mortgage lender Halifax, last week said house prices fell by 2.6% year-on-year in June, the largest annual drop since 2011.

Persons: Liz Truss's, Simon Rubinsohn, Rubinsohn, Suban Abdulla, David Milliken Organizations: Royal Institution, Chartered Surveyors, Bank of, Financial, Halifax, Nationwide, Thomson

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