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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

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

☆ Millions Under Warnings in New England as Hurricane Lee Approaches
▼ + stars: | 2023-09-15 | by ( Judson Jones | More About Judson Jones | ) www.nytimes.com time to read: +1 min

The ultimate outcome for locations in New England will depend on how a few different conditions play out over the next two days. Though the storm is expected to weaken, the Hurricane Center said it would remain “a large and dangerous cyclone” as it approaches New England and Atlantic Canada. A hurricane watch, meaning hurricane conditions are possible within the area, stretched through down-east Maine from Stonington to the U.S.-Canada border. The Canadian Hurricane Center also issued a hurricane watch on Wednesday for part of the provinces of New Brunswick and Nova Scotia. The center said that its hurricane and tropical storm watches referred to conditions expected on Saturday.

Persons: Lee, Janet T, Mills Organizations: Hurricane Center, U.S ., Gov, White House, Canadian Hurricane Center Locations: New England, Bermuda, Nantucket, Massachusetts, Atlantic Canada, Maine, Stonington, U.S, Canada, New Brunswick, Nova Scotia

☆ 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

(AP) — Hurricane Lee looks poised to wallop New England later this week even as the region still deals with the impact of days of wild weather that produced torrential rain, flooding, sinkholes and a likely tornado. Areas from Watch Hill, Rhode Island, to Stonington, Maine — including Block Island, Martha’s Vineyard and Nantucket — are under a tropical storm watch. The National Weather Service in Boston said radar data and videos showed it was likely that a tornado damaged trees and power lines in Rhode Island and Connecticut on Wednesday. Heavy rain turned his swimming pool into a mud pit and filled his basement with 3 feet (91 centimeters) of water. In Providence, Rhode Island, downpours flooded a parking lot and parts of a shopping mall.

Persons: Hurricane Lee, Dan McKee, “, ” McKee, Sean Pope, ”, Maura Healey, Matthew Belk, Healey, Hurricane Lee didn’t, Dean Mazzarella, Mazarella Organizations: U.S ., National Hurricane Center, Cape, National Weather Service, Rhode, Gov, Massachusetts Gov, Firefighters Locations: LEOMINSTER, Mass, Hurricane, wallop New England, Stonington , Maine, U.S, Watch Hill, Rhode Island, Nantucket, Massachusetts, Rhode, Boston, Rhode Island and Connecticut, Lincoln , Rhode Island, Attleborough , Massachusetts, Leominster , Massachusetts, Providence , Rhode Island, Leominster, Danbury , Connecticut, Nova Scotia, Canada, England, Vermont

☆ Canada's Laurentian Bank says completed review of strategic options
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

The logo of Laurentian Bank is seen at its head offices in Montreal, April 1, 2015. REUTERS/Christinne Muschi Acquire Licensing RightsSept 14 (Reuters) - Canada's Laurentian Bank (LB.TO) said on Thursday it has completed a previously disclosed review of strategic options, with the lender now focusing on simplifying its organizational structure. "The Board, with the support of the Executive Management Team, has unanimously concluded that the best path forward is... accelerated evolution of its current strategic plan with an increased focus on efficiency and simplification," Laurentian said. However, later that month, a media report citing sources said Montreal-based Laurentian was struggling to find an acquirer and that Canada's top banks - Bank of Nova Scotia (BNS.TO) and Toronto-Dominion Bank (TD.TO) - had backed out of a potential acquisition. Laurentian said it considered a variety of options through the review process, including an acquisition of the whole bank and divesting certain businesses.

Persons: Christinne, Manya Saini, Krishna Chandra Organizations: Laurentian Bank, REUTERS, Executive Management Team, Laurentian, Bank of Nova, Dominion Bank, Thomson Locations: Montreal, Bank of Nova Scotia, Toronto, Bengaluru

☆ Hurricane Lee path: Vast stretches of coastal New England face hurricane and tropical storm watches ahead of storm's arrival
▼ + stars: | 2023-09-14 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +3 min

“Hurricane conditions, heavy rainfall, and coastal flooding are possible in portions of eastern Maine on Saturday,” the National Hurricane Center said. The area is under a hurricane watch, as is parts of New Brunswick and Nova Scotia. A tropical storm watch has also been issued for large swaths of coastal New England, including Nantucket and Martha’s Vineyard, Massachusetts. ET Thursday and was churning with maximum sustained winds of up to 100 mph, according to a hurricane center advisory. The storm is on track to sweep past Bermuda to its west Thursday, prompting an island-wide tropical storm warning.

Persons: Lee, Lee doesn’t, Josh Rannenberg, ” Rannenberg, CNN’s “ Erin Burnett Organizations: CNN, National Hurricane Center, National Oceanic, Atmospheric Administration Locations: New England, barreling, Maine, Atlantic Canada, Atlantic, New Brunswick, Nova Scotia, Massachusetts, Cape Cod, Nantucket, Vineyard , Massachusetts, Bermuda, New Hampshire, Rhode

☆ Canada finance minister defends central bank independence after rate comment
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas White/Illustration Acquire Licensing RightsSept 6 (Reuters) - Canadian Finance Minister Chrystia Freeland defended the central bank's independence on Wednesday after her comments welcoming the Bank of Canada's decision not to increase its key interest rate raised concerns to the contrary. In a widely expected decision, the Bank of Canada held interest rates steady at a 22-year high of 5%. It is rare for Canadian government ministers to publicly back or criticize central bank policies. Like many developed economies, the Bank of Canada makes its monetary policy decisions independent of the federal government. In June, when the central bank raised rates for the first time after a four-month pause, Freeland stressed that she respected the independence of the central bank, a sentiment she repeated in a press conference later in the day.

Persons: Thomas White, Chrystia Freeland, Freeland, Derek Holt, Pierre Poilievre, Justin Trudeau's, Steve Scherer, David Ljunggren, Denny Thomas, Leslie Adler Organizations: Canadian Finance, Bank of, Bank of Canada, Conservative, Liberal, Ontario, Thomson Locations: Canada, Bank of Nova Scotia, British Columbia, Ottawa

☆ A mysterious Arctic shark that can live for 500 years got lost and ended up swimming in the balmy waters of the Caribbean, scientists say
▼ + stars: | 2023-09-03 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +5 min

A shark was found in the Caribbean — thousands of miles away from its usual habitat in the Arctic. The Greenland shark, which has a lifespan of 250 – 500 years, surprised researchers in Belize. When they retrieved their scientific catch, they were astonished to find the ancient Greenland shark. Greenland sharks are primarily scavengers, eating everything (dead or alive), including fish, seals, polar bears, and whales. AdvertisementAdvertisementAccording to a 2016 study, Greenland sharks don't reach sexual maturity until they are at least 134 years old.

Persons: Hector Daniel Martinez, Demian Chapman, they're, Julius Nielsen Organizations: Service, Florida, Mashable, National Ocean Service, Caribbean, Sharks, Rays Conservation Research, Mote Marine Laboratory, Aquarium, New Locations: Caribbean, Belize, Wall, Silicon, Greenland, Baffin, Nova Scotia, Svalbard, Norway

That has led to a rare situation in Canada where banks are seeing mortgage amortizations getting extended beyond 30 years, sparking calls from regulators to take immediate action to mitigate risks. For the other four banks, mortgages amortizing under 25 years account for a half to nearly three quarters. Scotiabank's Canada head Dan Rees said the bank was now being more "disciplined with regards to customer selection" for new mortgages. Still, the risks remain elevated as consumers are struggling to make monthly payments due to the rising cost of living. TD Bank's Canada personal banking head Michael Rhodes told analysts this week that "a meaningful number of customers" are making the changes.

Persons: Mark Blinch, Hratch Panossian, Dan Rees, Brian Madden, Michael Rhodes, Dave McKay, Nivedita Balu, Denny Thomas, Stephen Coates Organizations: REUTERS, Rights, Canada's, Reuters, CIBC, Bank of Nova, Investment, Thomson Locations: Toronto, Milton , Ontario, Canada, Bank of Nova Scotia

☆ Pickering Energy Partners launches oil and gas investment banking unit
▼ + stars: | 2023-09-01 | by ( David French | ) www.reuters.com time to read: +3 min

Sept 1 (Reuters) - Pickering Energy Partners (PEP) is launching a financial advisory unit for oil and gas dealmaking, the investment firm said on Friday, doubling down on traditional fossil fuels as some banks are becoming wary about the industry and ramping up their bets on clean energy. The launch of the investment banking unit marks a return to oil and gas advisory services for Dan Pickering, the veteran energy financier who helped form Tudor, Pickering, Holt & Co, an energy boutique bank that was acquired by Perella Weinberg Partners (PWP.O) in 2016. Houston-based PEP has an existing investment banking unit that focuses solely on energy transition, while the firm's other offerings include equity research, investment funds, and consulting services. All non-compete agreements between the two firms have now expired, enabling Pickering to pursue oil and gas advisory work. Banks including BNP Paribas (BNPP.PA), Bank of Montreal (BMO.TO) and Bank of Nova Scotia (BNS.TO) have pulled back from oil and gas dealmaking over the past few years.

Persons: Dan Pickering, Tudor, Perella Weinberg, dealmakers, Jason Kivett, Robyn Underwood, Pickering, Banks, David French, Anirban Sen, Sherry Jacob, Phillips Organizations: Pickering Energy Partners, Holt & Co, Barclays Plc, Houston, BNP, Bank of Montreal, Bank of Nova, Credit Suisse, UBS Group AG, Reuters, Thomson Locations: Pickering, Bank of Nova Scotia, New York

☆ CIBC's profit falls below estimates as it guards against bad loans
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

A sign for the The Canadian Imperial Bank of Commerce (CIBC) in Toronto, Ontario, Canada December 13, 2021. CIBC, the last big six Canadian bank to report results for the third quarter, was also the latest to guard against potentially sour loans, a factor that is dragging on earnings across the sector. The issue was reflected in its core Canadian personal and business banking segment, where net income fell 16%. At its commercial banking and wealth management segment, net income fell 4%. CIBC's peers TD Bank (TD.TO), Bank of Montreal (BMO.TO), Bank of Nova Scotia (BNS.TO) and National Bank (NA.TO) missed quarterly profit estimates earlier in the week, also weighed down by higher provisions.

Persons: Carlos Osorio, Nivedita Balu, Pritam Biswas, Shweta Agarwal, David Holmes Organizations: Canadian Imperial Bank of Commerce, CIBC, REUTERS, Bank, Bank of Montreal, Bank of Nova, National Bank, Thomson Locations: Toronto , Ontario, Canada, Bank of Nova Scotia, Toronto, Bengaluru

CIBC blamed soft U.S. real estate and construction sectors and high interest rates for its three-fold jump in bad loan provisions to C$736 million ($544 million). "Where we are seeing the issues is in commercial real estate and in particular, in the institutional office space," said Shawn Beber, the bank's head of U.S. operations. And as that transition continues, you'll see (commercial real estate) wind up being a smaller percentage of the overall U.S. portfolio as our commercial and industrial and our wealth businesses continue to grow," Beber told analysts. The U.S. office portfolio represents less than 1% of CIBC's overall loan book and 20% of overall U.S. commercial real estate. "It appears that higher interest rates for longer may be the primary culprit," RBC analyst Darko Mihelic said.

Persons: Carlos Osorio, Shawn Beber, Beber, Brian Madden, Darko Mihelic, Nivedita Balu, Pritam Biswas, David Holmes, Mark Potter Organizations: Canadian Imperial Bank of Commerce, CIBC, REUTERS, Bank, Bank of Montreal, Bank of Nova, National Bank, Royal Bank of Canada, Investment, RBC, Thomson Locations: Toronto , Ontario, Canada, U.S, Bank of Nova Scotia, Canadian, Toronto, Bengaluru

BMO, which bought U.S. regional lender Bank of the West earlier this year, said provision for credit losses rose to C$492 million ($361.42 million), compared with C$136 million a year ago. The bank's earnings were also affected by severance costs of C$162 million and C$83 million in legal provisions at its capital markets unit. At Bank of Montreal, net interest income for the quarter rose to C$4.91 billion, compared with C$4.20 billion last year. At Scotiabank net interest income fell to C$4.58 billion, from $4.68 billion a year ago, largely hurt by lower corporate lending and lower loan fees. At Scotiabank, net income came in at C$2.23 billion, compared with C$2.61 billion.

Persons: Carlos Osorio, Tayfun Tuzun, BMO's, Scott Thomson, Thomson, John Aiken, BMO's Tuzun, Nivedita Balu, Pritam Biswas, Sri Hari, Shweta Agarwal, Bernadette Baum, Mike Harrison, Jonathan Oatis Organizations: Bank of Montreal, REUTERS, Bank of Nova, Bank of Canada's, BMO, Bank, Scotiabank, Barclays, Bank of, Analysts, Thomson Locations: Toronto , Ontario, Canada, Bank of Nova Scotia, Toronto, U.S, Mexico, Bank of Montreal, Bengaluru

☆ TSX set to open flat ahead of data-packed week
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1105 GMT), after finishing the week flat on Friday. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended higher on Friday, lifted by gains in energy stocks. Investors are also awaiting earnings from major Canadian banks, including Bank of Montreal (BMO.TO), Bank of Nova Scotia (BNS.TO) and National Bank of Canada (NA.TO), reporting this week. Wall Street futures edged higher on Monday.

Persons: Chris Helgren, Canada's, Shashwat Chauhan, Shweta Agarwal Organizations: Toronto Stock Exchange, REUTERS, Bank of Canada, Toronto Stock, Bank of Montreal, Bank of Nova, National Bank of Canada, Wall, Brent, Thomson Locations: Toronto , Ontario, Canada, United States, China, Bank of Nova Scotia, Bengaluru

☆ Here are 2 major themes to watch in the week ahead after Friday's market rally
▼ + stars: | 2023-08-26 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

As August is known to be, it's been a rough month-to-date for all three of those stock market benchmarks so far. This past week, the overall market was oversold, according to Jim Cramer's trusted S & P Oscillator. After Friday's strong finish, we'll see if the market's oversold condition abates as two major themes play out in the week ahead: Earnings from two Club names — Salesforce (CRM) and Broadcom (AVGO) — and key economic reports ahead of September's Fed meeting. Outside of the labor market and inflation, we'll also get a look at the housing market with the pending home sales on Wednesday. As we heard from fellow Club name Palo Alto Networks (PANW) last week, companies are growing more cautious and more closely scrutinizing large sales deals.

Persons: Jerome Powell's, Powell, it's, Jim Cramer's, Friday's, —, It's, we've, we'll, we're, Salesforce, AVGO, We're, Brown, Forman, Campbell Soup, LULU, Jim Cramer, Jim, Angela Weiss Organizations: Nasdaq, Federal, Nvidia, Dow Jones, Broadcom, Fed, Labor, Club, Palo Alto Networks, VMWare, HEICO Corporation, Bank of Montreal, BMO, Bank of Nova, Hewlett Packard Enterprise, HP, PVH Corp, Patterson Companies, Veeva Systems, UBS, Academy Sports, Hormel, Signet Jewelers, Dell Technologies, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Jackson Hole , Wyoming, China, Bank of Nova Scotia, New York City

A Royal Bank of Canada (RBC) logo is seen on Bay Street in the heart of the financial district in Toronto, January 22, 2015. The shares of the top five banks - Royal Bank of Canada , TD Bank (TD.TO), Bank of Montreal (BMO.TO), Bank of Nova Scotia (BNS.TO) and CIBC (CM.TO) - have lost between 2% and 8% so far this year. Reuters GraphicsRoyal Bank of Canada and TD Bank will kick off third-quarter results on Thursday. RBC analyst Darko Mihelic forecast a 9% third-quarter revenue decline from a year ago for the capital-market business of the large Canadian banks. Investors will also watch for any updates on Bank of Nova Scotia's (BNS.TO) turnaround plan for its international business.

Persons: Mark Blinch, Mike Rizvanovic, Darko Mihelic, Cowen, RBC's Mihelic, Nivedita Balu, Matthew Lewis Organizations: Royal Bank of Canada, REUTERS, RBC, TD Bank, Bank of Montreal, Bank of Nova, CIBC, National Bank, Toronto Stock, Bank of Canada, Reuters Graphics Royal Bank of Canada, HSBC Canada, Laurentian Bank, Thomson Locations: Toronto, dealmaking, TORONTO, Bank of Nova Scotia

☆ How Ron DeSantis Joined the ‘Ruling Class’ — and Turned Against It
▼ + stars: | 2023-08-20 | by ( Nicholas Confessore | More About Nicholas Confessore | ) www.nytimes.com time to read: +4 min

In January, Pinellas school district officials yanked Toni Morrison’s classic novel “The Bluest Eye” from high schools after a parent complained about a two-page rape scene. But in counties like Pinellas, his policies and rhetoric have already had what his critics believe is their intended effect. She objected to parts of the syllabus Mr. Robinson had distributed to his class on African-American history, which her son had briefly enrolled in. “I don’t stop my class and ask my white kids, ‘Hey, how are you feeling?’ What kind of teacher would do that?” Mr. Robinson said. In January, someone reported Mr. Robinson for a TikTok mentioning that he had taught students in his Dunedin sociology class about the Black thinker W.E.B.

Persons: DeSantis, yanked Toni Morrison’s, Ruby, ”, Jeffrey Sachs, Diaz, Laura Hine, Renee Chiea —, —, Brandt Robinson, Robinson, Chiea, Nell Irvin Painter, DeSantis’s, Mr, “ It’s, Robinson’s, W.E.B, Du Bois Organizations: Republican, Liberty, Disney, Acadia University, Dunedin High School, Princeton, America, Mr, The Times, Black Locations: Pinellas County, Pinellas, ”, New Orleans, Nova Scotia, Tallahassee ’, Florida, Dunedin

☆ 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

☆ Canada wildfires: what are the causes and when will it end?
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +6 min

Here are some questions and answers about Canada's wildfires, which have charred millions of hectares and polluted the air in that nation and the U.S.WHAT PARTS OF CANADA HAVE WILDFIRES HIT? Wildfires are common in Canada's western provinces, but this year the eastern provinces of Nova Scotia, Quebec and parts of Ontario have also reeled from out-of-control wildfires. This week, the focus returned to the west, as wildfires burned about 16 km (10 miles) northwest of Yellowknife, the capital of the vast, sparsely populated Northwest Territories. As of Wednesday, there were 1,054 active wildfires in Canada, including 230 in the Northwest Territories and 669 deemed out of control, according to the Canadian Interagency Forest Fire Center. Widespread spring fires across the whole of Canada are also unusual, and research shows fire seasons across North America are getting longer.

Persons: Pat Kane, Mike Westwick, De Beers, Lytton, Fort Smith, Justin Trudeau, Ellen Whitman, David Ljunggren, Divya Rajagopal, Ismail Shakil, Rod Nickel, Jonathan Oatis, Josie Kao Organizations: REUTERS, Canadian Broadcasting Corporation, Canadian Interagency Forest Fire, Reuters Graphics, Northwest, Enterprise, Northwest Territories, Diamond, Atlantic Canada, Canadian, Canadian Forest Service, Thomson Locations: Yellowknife, Northwest Territories, Canada, U.S, Nova Scotia, Quebec, Ontario, Territories, British Columbia, Alberta, YELLOWKNIFE, Northwest, Hay, Fort McMurray, United States, Fort, Winnipeg, Ottawa, Toronto, East Coast, New York, Washington, Chicago, North America

☆ Trader Joe’s says it’s not adding self-checkout lines to its stores
▼ + stars: | 2023-08-17 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Self-checkout kiosks are invading several chains, like Target and Kroger. In a recent company released podcast, Trader Joe’s President Jon Basalone said a rumor that the quirky grocery chain was adding them was as “false as false can be.” He added: “We believe in people. Ignoring the trendsNot jumping on the self-checkout trend isn’t the only thing that Trader Joe’s has ignored despite their competitors doing it. But Trader Joe’s stores are already overcrowded since the chain squeezes a limited number of items into small stores, many on city street corners. Additional people inside stores or cars in parking lots could make Trader Joe’s unbearable and adding curbside pickup would also be difficult to implement for these reasons.

Persons: New York CNN —, Jon Basalone, We’re, ” Basalone, “, ”, Bryan Palbaum interjected, ” Palbaum, Basalone, they’d, Sylvain Charlebois, it’s, Joe’s, Matt Sloan Organizations: New, New York CNN, Target, Kroger, Agri, Food, Dalhousie University, CNN Locations: New York, Nova Scotia

☆ Oceans absorb 90% of the heat from climate change — here's why record ocean temps are so harmful
▼ + stars: | 2023-08-16 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +22 min

"Over 90 percent of the excess energy on earth due to climate change is found in warmer oceans, some of it in surface oceans and some at depth." Put simply, the greenhouse gases serve to trap more heat, some of which is absorbed by the ocean," Kirtman told CNBC. In addition to the daily record on July 31, the monthly sea surface temperature for July was the hottest July on record, "by far," Copernicus said. CopernicusThese record sea surface temperatures arise from multiple factors, including the El Niño weather pattern, which is currently in effect. "These climate variations occur when sea surface temperature patterns of warming and cooling self-reinforce by changing patterns of winds and precipitation that deepen the sea surface temperature changes."

Persons: Baylor, Carlos E, Del Castillo, Castillo, Benjamin Kirtman, Kirtman, Copernicus, Gavin Schmidt, Kemper, Zeke Hausfather, Sarah Kapnick, Kapnick, Kempler, Hurricane Ian, Michael Lowry, Lowry, Rainer Froese, Daniel Pauly, Pauly, Vigfus, pollack, Sean Gallup, Lorenz Hauser, Hauser, Froese, Phanor Montoya, Javier, Carolyn Cole, Hans W, Paerl, Justin Sullivan, Christopher Gobler, Gobler, Gary Griggs, Kimberly McKenna, Angela Weiss, Griggs, it's, Judith Kildow, Kildow, It's Organizations: International, Baylor Fox, Kemper, Brown University, CNBC, Ecology Laboratory, NASA, University of Miami, NASA Goddard Institute for Space Studies, Fox, El, Oceanic Atmospheric Administration, heatwave, NOAA, Northern Hemisphere, Miami Herald, Tribune, Service, Getty, Helmholtz, Ocean Research, University of British Columbia's Institute, Fisheries, School of, Fishery Sciences, Restoration Foundation, Coral Restoration Foundation, Looe Key, Los Angeles Times, University of North, Chapel Hill's Institute of Marine Sciences, Berkeley Marina, San, Quality, Centers for Disease Control, Stony Brooke University's School of Marine, Atmospheric Sciences, University of California, Stockton University Coastal Research, Afp, Ocean Economics Locations: Florida, El, Pacific, Berkeley, Fort Myers, Hurricane, Germany, New York, Nova Scotia, Hofn, Hornafjordur, Iceland, Seattle, Alaska, Looe, University of North Carolina, San Francisco Bay, Berkeley , California, San Francisco, Europe, Santa Cruz, Atlantic City , New Jersey, Atlantic City, Antarctica, Greenland

"It's probably going to be a rough July and a rough summer," she said in a phone interview. Canada's trade deficit with countries other than the United States, its biggest trading partner, widened to an all-time high as month-over-month exports declined 5.5%, while imports were down marginally. The overall trade deficit matched the C$3.73 billion shortfall in October 2020. The Canadian dollar traded slightly higher at C$1.3477 to the U.S. dollar, or 74.20 U.S. cents, up from C$1.3498 to the U.S. dollar, or 74.09 U.S. cents. By volume, imports were up 0.9%.

Persons: Chris Helgren, Statscan, Meena Aier, It's, Olivia Cross, Cross, Ismail Shakil, David Ljunggren, Bernadette Baum, Jonathan Oatis Organizations: Port, REUTERS, OTTAWA, Statistics, Export Development, Capital Economics, Canadian, U.S ., Thomson Locations: Port of Vancouver , British Columbia, Canada, Statistics Canada, United States, of Nova Scotia, Ottawa

☆ Laurentian Bank's shares fall after media report that potential top bidders bowed out
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

TD is also not bidding for Laurentian, the report added. The reported move comes weeks after Laurentian, Canada's ninth-largest bank, said it was reviewing strategic options. A spokesperson for Laurentian Bank declined to comment on the report, when contacted by Reuters, saying the bank's "strategic review is still under way" and the "board of directors is actively examining the options available." TD Bank did not immediately respond to a Reuters request for comment. Shares of Laurentian, which jumped 27% after reports of a sale earlier this month, have gained about 35% so far this year.

Persons: Rania Llewellyn, Jaiveer Singh, Balu, Shailesh Kuber, Matthew Lewis Organizations: Laurentian Bank of Canada's, Bank of Nova, Dominion Bank, Scotiabank, Globe and Mail, Laurentian, TD, U.S, Barclays, Canada's, Globe, Laurentian Bank, Reuters, TD Bank, Thomson Locations: Laurentian, Montreal, Bank of Nova Scotia, Toronto, Quebec, Bengaluru

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