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Two of the three core inflation measures also rose. The annual rate, the highest since the 4.4% reported in April, is double the Bank of Canada's 2% target. "Underlying inflation is still well above the level that would be consistent with achieving our target of 2% CPI inflation," she said. Money markets raised bets for a rate hike in October after the data, seeing a 42% chance of an increase after the price figures compared with 23% before. However, another inflation report and a bevy of other data are due out before the Canadian central bank next meets on Oct 25 to set the key overnight rate.

Persons: Derek Holt, Holt, Sharon Kozicki, Jimmy Jean, Justin Trudeau's, Andrew Grantham, David Ljunggren, Steve Scherer, Dale Smith, Fergal Smith, Divya Rajogopal, Paul Simao, Mark Porter Organizations: Reuters, Statistics, Bank of Canada's, Scotiabank, Bank of, Bank of Canada, Canadian, Desjardins Group, CIBC Capital Markets, Tiff, Thomson Locations: OTTAWA, Statistics Canada, Canadian

TORONTO, Sept 18 (Reuters) - Canada's plan to bring down food prices by tightening regulation could backfire and fail, raising the cost of doing business in the country without providing relief to consumers, lawyers and economists said. Canada's weak competition law has been long blamed for allowing a few players to dominate industries ranging from banks to telecoms and groceries. The proposed amendment will drop the so-called efficiencies defense provision, giving Canada's antitrust regulator - the Competition Bureau - the power to block deals it deems as increasing market concentration, irrespective of any cost efficiencies. Trudeau's move comes as many Canadians reel under an affordability crisis with food prices jumping 25% since the start of the COVID-19 pandemic in 2020. Food inflation stood at around 35% in Germany and the United Kingdom - well above the 25% level of food inflation in Canada since the start of the pandemic, Scotiabank research showed.

Persons: Justin Trudeau, Pierre Poilievre, Omar Wakil, Torys, Wakil, Derek Holt, Denny Thomas, Deepa Babington Organizations: Competition, Liberal, Conservative, Loblaw Co, Co, Metro Inc, Scotiabank, Antitrust, Rogers Communications, Shaw Communications, Thomson Locations: Canada, Ukraine, Germany, United Kingdom

OKLAHOMA CITY (AP) — Oklahoma City Mayor David Holt unveiled a proposal Tuesday for a new $900 million downtown arena that would keep the NBA’s Thunder in the city through at least 2050 if approved by voters. The deal calls for at least $900 million to be spent constructing the new arena. According to a city press release, the proposal will be presented to the nine-member Oklahoma City Council on Sept. 26. If approved, Holt says the Thunder will play in the new arena for at least 25 years. “For a generation, we will retain the economic impact and quality-of-life benefits we have enjoyed as a big-league city.”Political Cartoons View All 1154 ImagesThe NBA franchise moved to Oklahoma City in 2008 from Seattle.

Persons: David Holt, Holt Organizations: OKLAHOMA CITY, Oklahoma City, Thunder, Oklahoma City Council, NBA Locations: Oklahoma, Seattle

☆ Iran's Raisi: five US citizens detained in Iran 'in full health'
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +3 min

Iranian President Ebrahim Raisi meets with Zimbabwean President Emmerson Mnangagwa (not pictured) during his official visit at the State House in Harare, Zimbabwe, on July 13, 2023. Iran's Presidency/Mohammad Javad Ostad/WANA (West Asia News Agency)/Handout via REUTERS Acquire Licensing RightsWASHINGTON, Sept 12 (Reuters) - Five U.S. citizens detained in Iran, who are expected to be swapped for five Iranians imprisoned in the United States as early as next week, are "in full health," Iranian President Ebrahim Raisi said in a television interview on Tuesday. One source familiar with the talks has previously said the Swiss embassy, which represents U.S. interests in Iran, had visited the five Americans and said they were in good health. While Raisi appeared to acknowledge the $6 billion may only be used for humanitarian purposes, he said Iran would decide how the money would be spent. "This money belongs to the Iranian people, the Iranian government, so the Islamic Republic of Iran will decide what to do with this money," Raisi said in the interview, speaking through an Iranian government translator.

Persons: Ebrahim Raisi, Emmerson Mnangagwa, Mohammad Javad Ostad, Raisi, Lester Holt, Morad Tahbaz, Arshad Mohammed, Samia Nakhoul, Timothy Gardner Organizations: State House, Iran's, West Asia News Agency, REUTERS Acquire, Rights, U.S, NBC Nightly, U.S ., British, NBC, U.S . State Department, Thomson Locations: Harare, Zimbabwe, Iran, United States, Tehran, U.S, Emad Sharqi, South Korean, Washington, Qatar, Swiss, Islamic Republic of Iran, South Korea, Dubai

☆ How a single hard-charging CEO helped the US dollar take over the world
▼ + stars: | 2023-09-12 | by ( Henry Farrell | Abraham Newman | ) www.businessinsider.com time to read: +14 min

Wriston's financial innovations helped create the modern Eurodollar market — a vast offshore realm of financial transactions in US dollars happening outside of US borders. As he explained in 1979, the "current banking network, with its Euromarkets and its automated payments system" seemed dull and technical, but it had immense political consequences. Wriston helped rebuild this clanking machine into an engine of transformation, welding disjointed national markets into a true world economy. It began to develop a new kind of sanction, which used its control of "dollar clearing" to force international banks to implement US policy outside its borders. Instead of the stateless, government-less world that Wriston envisioned, the internationalization of the US dollar became the precedent for a massive transformation of America's financial power.

Persons: Walter Wriston, Wriston, Friedrich Hayek's, Banks, Eric Sepkes, Eric Helleiner, Henry Holt, Helleiner, Henry Farrell, Johns Hopkins SAIS, Friedrich Schiedel, Abraham Newman Organizations: Citibank, Staff, of, Technology, Bankers, JPMorgan, Warburg, Federal Reserve, buccaneers, US Department of, Treasury, SWIFT, Society, Worldwide Interbank, Johns Hopkins, Politics, The Washington Post, School of Foreign Service, Government Department, Georgetown University, Henry Holt and Company Locations: London, of London, Europe, Argentina, New York, United States, Eurodollars, Italy, Japan, Soviet Union, America, Iran, Russia, Ukraine

Iran's Presidency/Mohammad Javad Ostad/WANA (West Asia News Agency)/Handout via REUTERS Acquire Licensing RightsWASHINGTON, Sept 12 (Reuters) - Five U.S. citizens detained in Iran who are expected to be swapped for five Iranians imprisoned in the United States as early as next week are "in full health," Iranian President Ebrahim Raisi said on Tuesday. The United States said it will have "oversight" on how and when the funds will be spent. IRNA, citing Iran's mission to the United Nations, said "some of the freed Iranians will remain in the United States while others will return ... "The arrangements have been done and the final action of swapping the prisoners should be finalized in the due time," Raisi told NBC, according to excerpts released by the network. "This money belongs to the Iranian people, the Iranian government, so the Islamic Republic of Iran will decide what to do with this money," Raisi said in the interview, speaking through an Iranian government translator.

Persons: Ebrahim Raisi, Emmerson Mnangagwa, Mohammad Javad Ostad, Matthew Miller, Raisi, Lester Holt, Siamak, Morad Tahbaz, Mehrdad Moin, Ansari, Kambiz Attar, Kashani, Reza Sarhangpour, Amin Hassanzadeh, Kaveh, IRNA, John Kirby, Arshad Mohammed, Rami Ayyub, Daphne Psaledakis, Parisa Hafezi, Timothy Gardner, Rosalba O'Brien Organizations: State House, Iran's, West Asia News Agency, REUTERS Acquire, Rights, U.S, United, Department, NBC Nightly, U.S ., British, U.S . State Department, United Nations, White House, MSNBC, NBC, Thomson Locations: Harare, Zimbabwe, Iran, United States, South Korean, Washington, Tehran, U.S, Emad Sharqi, Qatar, Islamic Republic of Iran, Dubai

Many people spent a second night in the open after the 6.8 magnitude quake hit late on Friday. Morocco has declared three days of mourning and King Mohammed VI called for prayers for the dead to be held at mosques across the country on Sunday. PULLING SURVIVORS FROM RUBBLEThere were hopes more survivors could be found. Footage captured on Saturday in Moulay Brahim, showed rescuers pulling someone from the rubble. It was Morocco's deadliest earthquake since 1960 when a quake was estimated to have killed at least 12,000 people, according to the U.S. Geological Survey.

Persons: King, Adeeni Mustafa, King Mohammed VI, Caroline Holt, Abdellatif Ait, Saida Bodchich, Moulay Brahim, Ayat, Ahmed Eljechtimi, Jose Joseph, Adam Makary, Omar Abdel, Angus McDowall, Tom Perry, Frances Kerry, Elaine Hardcastle Organizations: ., Reuters, Ministry, World Health Organization, International Federation of Red, Red Crescent Societies, High, . Geological Survey, International Monetary Fund, World Bank, IMF, Thomson Locations: BRAHIM, Morocco, Marrakech, Moulay, Tansghart, Abdellatif Ait Bella, Turkey, Bengaluru, Razek, Cairo, London

☆ Rescuers Hunt for Survivors of Morocco Quake With Over 2,000 Dead
▼ + stars: | 2023-09-10 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +4 min

Many people spent a second night in the open after the 6.8 magnitude quake hit late on Friday. The latest Interior Ministry figures put the death toll at 2,012, with 2,059 people injured, including 1,404 in critical condition. Morocco has declared three days of mourning and King Mohammed VI called for prayers for the dead to be held at mosques across the country on Sunday. PULLING SURVIVORS FROM RUBBLEThere were hopes more survivors could be found. Footage captured on Saturday in the town of Moulay Brahim, some 50 km (30 miles) south of Marrakech, showed rescuers pulling someone from the rubble.

Persons: Jihed Abidellaoui, Alexander Cornwell MARRAKECH, King Mohammed VI, Caroline Holt, Abdellatif Ait, Saida Bodchich, Ayat, ”, Ahmed Eljechtimi, Jose Joseph, Adam Makary, Omar Abdel, Tom Perry, Frances Kerry Organizations: ., Ministry, World Health Organization, International Federation of Red, Red Crescent Societies, High, Reuters, . Geological Survey, International Monetary Fund, World Bank, IMF Locations: Morocco, Marrakech, Moulay, Tansghart, Abdellatif Ait Bella, Turkey, Bengaluru, Razek, Cairo

Canada created 39,900 jobs, Statistics Canada said, compared with a median forecast for a gain of 15,000. The labor market has been resilient even as the Bank of Canada (BoC) raised its key overnight rate 10 times since March 2022 to cool the economy. Money markets see a 44% chance of another BoC rate hike by year-end, up from 36% before the data were published. "This report alone won't make the Bank of Canada regret holding rates steady earlier this week. Derek Holt, vice president of capital markets economics at Scotiabank, noted a gain of 49,500 people in self-employed jobs.

Persons: Carlos Osorio, Andrew Kelvin, Royce Mendes, Derek Holt, Dale Smith, Fergal Smith, Andrea Ricci, Nick Macfie Organizations: Queen, West, REUTERS, Rights, Statistics, Bank of Canada, BoC, TD Securities, Desjardins Group, Canadian, Scotiabank, Thomson Locations: Toronto Ontario, Canada, Statistics Canada, Canadian, Ottawa, Toronto

☆ 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

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. REUTERS/Blair Gable/File Photo Acquire Licensing RightsOTTAWA, Sept 6 (Reuters) - The Bank of Canada on Wednesday is expected to keep rates on hold at a 22-year high of 5% after the economy unexpectedly shrank in the second quarter, analysts said. While the economy turned negative in the second quarter, inflation has been stubborn, unexpectedly rising to 3.3% in July as core measures remained well above 3%. Canada's Liberal Prime Minister Justin Trudeau's support has sagged amid high inflation as his Conservative rival, Pierre Poilievre, hammered him for feeding inflation with government spending and driving up rates during a housing crisis. But core inflation measures are inching down slowly, and a wealth of data is due out before the bank next meets to discuss rates in October.

Persons: Blair Gable, Derek Holt, Justin Trudeau's, Pierre Poilievre, Tiago Figueiredo, Holt, Steve Scherer, Mark Porter Organizations: Canada, REUTERS, Rights, Bank of Canada, of Canada, Scotiabank, Canada's Liberal, Conservative, Bank of Canada's, Desjardins Group, Reuters, BoC, Thomson Locations: Ottawa , Ontario, Canada

☆ 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

☆ Racist housing practices left Minneapolis with an extreme heat problem. Now, the city is rushing to reverse the lasting effects of environmental racism.
▼ + stars: | 2023-08-28 | by ( Dearbea Walker | ) www.businessinsider.com time to read: +10 min

The city hopes to rectify its history of environmental racism with a new Climate Equity Plan. It was also the only place Black people were allowed to purchase housing in the city. For all these reasons, previously redlined neighborhoods suffer from extreme heat. After years of outcry from activists, the city council submitted a new draft of a 10-year plan, titled the Minneapolis Climate Equity Plan, soliciting public comments. Earlier this year, Portland passed its 43-Step Climate Action Plan, which has similar objectives to the Minneapolis plan.

Persons: redlining, George Floyd, Kerem Yucel, CAPA, Tee McClenty, John Vachon, Franklin D, Anthony Potter, there's, Ulla Nilsen, it's, Darlene Pfister, Nilsen, Jacob Frey, MN350, " Nilsen, Jerry Holt, McClenty Organizations: Minneapolis, Equity, Service, George Floyd Memorial, Getty, Loan Corporation, District, Roosevelt's, City Hall, Star Tribune, Minneapolis Climate Equity Locations: Minneapolis, Minnesota, Kerem, AFP, homeownership, Negro, Portland , Oregon, Portland

The week after devastating wildfires swept across Maui, Hōkūlani Holt walked to the center of a grassy courtyard about 12 miles from Lahaina, just over the island’s steep mountains. A kumu hula, or hula teacher, Ms. Holt gathered about 50 listeners into a half-circle, and exhorted them to “lift your voice.” They each held a cup of water, a connection between the body, soul and ʻāina, Hawaiians’ expansive idea of the land. Several men and women blew hollowed-out bamboo pipes called pū ʻohe, producing a deep, trumpetlike sound. Then, led by Ms. Holt’s voice, the group began to chant. After the country’s deadliest fire in more than a century — at least 115 people have been confirmed dead, with hundreds still missing — practical recovery responses were clicking into place: food distribution, debris cleanup, a visit from the president.

Persons: Hōkūlani Holt, Holt, ”, Holt’s Locations: Maui, Lahaina

☆ Kenneth Chesebro, alleged architect of fake electors’ plot, followed Alex Jones around Capitol grounds on January 6th
▼ + stars: | 2023-08-18 | by ( Andrew Kaczynski Em Steck Yahya Abou-Ghazala | Andrew Kaczynski | Em Steck | ) edition.cnn.com time to read: +8 min

But a CNN investigation has placed him outside of the Capitol at the same time as his alleged plot to keep Trump in office unraveled inside it. CNN was able to place Chesebro at the protest through publicly available databases with photos and videos from that day. Shroyer, who had previously signed a deferred prosecution agreement in another case saying he would not engage in disorderly conduct on the Capitol grounds, was charged with four misdemeanors. Later, the group, including Chesebro, make their way halfway up the steps of the Capitol Building before heading down. Chesebro follows members of the group as they depart the Capitol grounds close to 3 p.m.Later, Chesebro can be seen walking near the Peace Monument at the front of the Capitol.

Persons: Alex Jones, riling, Jones, Donald Trump’s, Kenneth Chesebro, Chesebro, ”, Jared Holt, Lawrence Tribe, Jim Troupis, Biden, John Eastman, —, “, Infowars –, Owen Shroyer, Shroyer, Ryan Goodman, ” Goodman Organizations: CNN, Capitol, Trump, Institute for Strategic, Harvard, Republican, New York Times, New York University, Department of Defense, Committee, Trump International Hotel Locations: Fulton County , Georgia, Georgia, cryptocurrency, Wisconsin, Washington , DC, DC

Analysts polled by Reuters had forecast inflation would rise to 3.0% from the 27-month low of 2.8% recorded in June. Money markets increased bets for a quarter-percentage-point rate hike in September. They saw a 35% probability immediately after the release of the inflation data, up from 22% beforehand, and then settled back to a 31% chance. Not all economists thought the stronger-than-expected price data would tip the scales toward a hike as soon as its next meeting in September. The Bank of Canada, after its last rate hike in July, said it would study data closely before moving again.

Persons: Carlos Osorio, Statscan, Derek Holt, Tiago Figueiredo, Jules Boudreau, Ismail Shakil, Steve Scherer, Dale Smith, Paul Simao, Jonathan Oatis Organizations: REUTERS, OTTAWA, Reuters, Statistics, Bank of, Scotiabank, Canadian, Bank of Canada, Desjardins Group, Mackenzie Investments, Thomson Locations: Toronto , Ontario, Canada, Statistics Canada, Mackenzie, Ottawa

☆ 'Of course he lost': Ron DeSantis rejects Trump's 2020 election claims
▼ + stars: | 2023-08-07 | by ( Amanda Terkel | ) www.cnbc.com time to read: +3 min

Ron DeSantis on Sunday rejected Donald Trump's claim that he was the true winner of the 2020 presidential election in his most forceful comments to date on the matter. DeSantis continued to discuss all the ways he believed the previous presidential election was not perfect. DeSantis' comments come just days after Trump pleaded not guilty to charges that he broke the law by trying to overturn the 2020 election. I don't think it was a good-run election," DeSantis said. Florida has long allowed anyone who wants to vote by mail to do so, including in the 2020 election.

Persons: Ron DeSantis, Scott Brown, Donald Trump's, DeSantis, Dasha Burns, Trump, Burns, Joe Biden's, Lester Holt, Mark Zuckerberg's, Hunter Biden, didn't, You've, —, Dr, Anthony Fauci, lockdowns, Trump's Organizations: Republican U.S, Florida Gov, NBC News, NBC, MSNBC, Trump, Republican, White, Coronavirus, Force, Republican National Committee Locations: Florida, Rye , New Hampshire, U.S, Iowa

☆ A Millennium Falcon-shaped comet heading toward Earth is so bright you'll able to see it with your naked eye, say astronomers
▼ + stars: | 2023-07-27 | by ( Ellie Zolfagharifard | ) www.businessinsider.com time to read: +4 min

Astronomers have spotted a "once-in-a-lifetime" comet shaped like the Millennium Falcon. The comet will make its closest approach to the sun next year, just weeks after a solar eclipse. The comet, known as Comet 12P/Pons-Brooks, abruptly brightened 100-fold on July 20 as plumes of debris and ice were blasted off it into space. While it may be possible to see the comet with the naked eye, Miles advised using binoculars. A decades-old mysteryAstronomers aren't sure exactly why Comet 12P/Pons-Brooks, which orbits the sun every 71 years, has brightened so drastically in recent weeks.

Persons: Pons, Brooks, It's, Richard Miles, Miles, Dr Edward Gomez, Elek Tamás, Helen Usher of Cardiff, Carrie Holt, Gomez Organizations: Service, British Astronomical Association, Wales, Harsona, Comet, Open University, University of Maryland Locations: Wall, Silicon, Cardiff, Nyiregyhaza, Hungary

☆ Cool-girl brand Aritzia made employees rate each other's appearances, discriminated against Black salespeople, and fostered a culture of fear, some ex-staffers say
▼ + stars: | 2023-07-24 | by ( Nichole Jankowski | Isabella Zavarise | Brianna Holt | ) www.businessinsider.com time to read: +27 min

They said 54% of Aritzia employees and 60% of retail employees identified as BIPOC but declined to provide a breakdown of those statistics. Insider spoke with 53 current and former Aritzia employees, several of whom said that while the world of fashion is notoriously cutthroat, working at Aritzia was particularly grueling. Aritzia's spokesperson said the company's success was a "direct result of its high-performance culture." (In a statement of defense filed with the court on July 5, the store manager and Aritzia denied all allegations. A former Ontario store manager said that shortly after she was hired, the manager of store operations asked if she had a boyfriend.

Persons: Brian Hill, Hill, Kendall Jenner, Meghan Markle, Jennifer Lopez, Aritzia, Lindsey Adelman, Melina, Isabel Slone, Max Mumby, Aritzia's, Carly Bishop, Brian, Jennifer Wong, who's, Wong, Robson, We're, George Pimentel, Heather McLean, Hill's, Tim Hortons, Kendalls, —, Todd Korol, Jessica Porter, weren't, Candace Jerry, Anyango Juma Miguna, Miguna, Hannah, Kaycelyn Pascual, Pascual, couldn't, Nadia Mahammed, Mahammed, she'd, George Floyd, they'd, Todd Ingledew Organizations: Aritzia, Euromonitor International, Aritzia's, Queen's University, Fashion, Globe, Toronto Star, Getty, SPH, Employees, British Columbia Human, Product, Estate Development, Business Locations: Toronto, Vancouver, Ontario, Aritzia, ascot, Canada, Aritzia's Vancouver, Canadian, New York City, Aritzia's Paramus , New Jersey, Newmarket , Ontario, British, New York

North America revenue for the current quarter will be slightly down, Chief Executive Olivier Le Peuch said in a post-earnings conference call with analysts, saying activity in the region was moderating. However, the company expects third quarter revenue from international markets to grow by a mid-single digit percentage, citing a resurgence in offshore and Middle East drilling. In comparison, last quarter's international revenue rose 21% to $6.3 billion and North America's climbed 14% to $1.75 billion. Analysts at Tudor Pickering Holt noted that international revenue missed its estimate by $1 billion, while North America slightly topped its forecast. Revenue of $8.1 billion fell slightly below analysts' estimate of $8.2 billion.

Persons: Baker Hughes, Olivier Le Peuch, America's, Tudor Pickering Holt, Peter McNally, Arathy Somasekhar, Arunima Kumar, Sriraj Kalluvila, David Holmes, Nick Zieminski Organizations: Schlumberger, Halliburton, North America, Thomson Locations: HOUSTON, America, North America, Tudor, Houston, Bengaluru

Macklem came under a rare attack last year from opposition politicians for misjudging inflation and locking in to a rigid forward guidance. "We are turning the corner on inflation," Macklem told reporters in January when the BoC became the first major central bank to announce a pause. The central bank's tightening campaign is a major concern for Canadians who loaded up on cheap mortgages and took on credit card and other debt in recent years. "Now maybe you're getting a certain maturity of the central bank that says, 'We're not going to do that again,'" Holt said. He assured Canadians during the pandemic that rates would rise only in 2023 when it expected the economic slack to be absorbed, but the central bank began hiking rates in March 2022 as inflation spiked.

Persons: Derek Holt, Macklem, Holt, Marc Chandler, Steve Scherer, Fergal Smith, Denny Thomas, Matthew Lewis Organizations: OTTAWA, Bank of Canada, BoC, Scotiabank ., Canadian Real Estate Association, Bannockburn Global Forex, Thomson Locations: Bannockburn, Ottawa, Toronto

After a five-month pause, the BoC raised its overnight rate in June, saying monetary policy was not sufficiently restrictive. "If new information suggests we need to do more, we are prepared to increase our policy rate further," BoC Governor Tiff Macklem told reporters after the decision. The BoC's overnight target rate was last at 5.00% in March and April of 2001. Twenty of 24 economists surveyed by Reuters had expected the central bank to lift rates by a quarter of a percentage point. Money markets had seen a more than a 70% chance of a rate hike before the announcement.

Persons: Derek Holt, Andrew Kelvin, Steve Scherer, Ismail Shakil, Fergal Smith, Divya Rajogopal, Nivedita Balu, Paul Simao, Mark Porter Organizations: OTTAWA, Bank of Canada, Wednesday, BoC, Scotiabank, Reuters, TD Securities, Thomson Locations: Canada, Toronto

☆ Revolution Beauty says it could settle with shareholder Boohoo in coming days
▼ + stars: | 2023-07-10 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A woman poses with a smartphone showing the Boohoo app in front of the Boohoo logo on display in this illustration taken September 30, 2020. REUTERS/Dado Ruvic/Illustration/File Photo(Reuters) - UK-based Revolution Beauty said on Monday it could reach a settlement with top shareholder Boohoo over board changes in the coming days, after the beauty products retailer said it will hold a general meeting on Aug. 7. British online fashion retailer Boohoo had in late June urged the company to call for a general meeting to remove executives including CEO Bob Holt from the board, a day after he was reappointed. Revolution on Monday also urged shareholders to follow its voting recommendation to vote against all of Boohoo’s proposed resolutions. Suspension on the shares of the company were lifted last month after the re-appointment of Holt, Chief Financial Officer Elizabeth Lake and Chairman Derek Zissman to the board.

Persons: Dado Ruvic, Boohoo, Bob Holt, Alistair McGeorge, Neil Catto, Boohoo’s, Holt, Elizabeth Lake, Derek Zissman Organizations: REUTERS

OTTAWA, July 7 (Reuters) - Canada's economy added far more jobs than expected in June, data showed on Friday, a result analysts said probably seals the deal for another Bank of Canada (BoC) interest rate hike next week. The unemployment rate in June increased for the second consecutive month and is now at its highest level since February 2022, though still below a pre-pandemic 12-month average, Statscan said. The June jobs report is the last major economic figure to be released before the BoC's rate announcement on Wednesday. Growth has remained resilient despite nine rate increases totaling 450 basis points since March of last year. The net jobs addition in June, the largest since January, were driven by full-time work.

Persons: Jobs, Statscan, Derek Holt, Royce Mendes, Ismail Shakil, Steve Scherer, Dale Smith, Emelia Sithole, Mark Porter Organizations: OTTAWA, Bank of Canada, BoC, Statistics, Scotiabank, Desjardins Group, Reuters, Canadian, Employment, Thomson Locations: Statistics Canada, Ottawa

☆ This parasitic 'vampire fish' that has circular rows of teeth and sucks the blood out of its hosts is making a comeback in the Great Lakes
▼ + stars: | 2023-07-03 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Sea lampreys, also known as "vampire fish," are a highly invasive species in the Great Lakes. The pandemic interrupted population management of the sea lampreys across the lakes. A lake trout from Lake Superior that was bitten by a sea lamprey. The fishery commission touts on its website that sea lamprey populations have been reduced by 90% "in most areas of the Great Lakes." Now, fishery managers say the population of the parasitic fish has ticked up across the Great Lakes, The Wall Street Journal reported.

Persons: —, Jerry Holt Organizations: Service, National Oceanic, Atmospheric Administration, NOAA, Wired, Star Tribune, Getty, Fishery Commission, US Fish and Wildlife Service, Fisheries, Oceans, Street Journal, Undark Magazine Locations: Great, Welland, Lake Ontario, Lake Erie, Lake Superior, Oceans Canada

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