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Scotiabank cutting 3% of global workforce, will take $590M Q4 charge after tax

Published Tue, 25 Feb 2025 13:20:37 GMT

TORONTO — Scotiabank is cutting about three per cent of its global workforce as a result of changes at the bank and customers’ day-to-day banking preferences, as well as ongoing efforts to streamline operations, the bank announced Wednesday.It will also take several charges that total $590 million after-tax, or about 49 cents per share, for its fourth quarter related to the cuts and other changes it is making.The charges include $247 million after-tax for restructuring and severance provisions and $63 million after-tax related to the consolidation and exit of certain real estate premises and service contracts.They also include an impairment charge of $280 million after-tax related to its investment in Bank of Xi’an Co. Ltd. as well as the impairment of certain intangible assets including software.Scotiabank noted that the market value of Bank of Xi’an has remained below the bank’s carrying value for a prolonged period.“We expect the savings on the above...

Stock market today: Wall Street slips in early trading and crude oil prices rise

Published Tue, 25 Feb 2025 13:20:37 GMT

NEW YORK (AP) — Wall Street is dipping in early trading following a mixed set of profit reports from big U.S. companies. Worries about war in the Middle East are also dragging on the market. The S&P 500 was 0.5% lower in the early going Wednesday. The Dow fell 69 points, and the Nasdaq composite was down 0.7%. Crude oil prices jumped sharply overnight following a deadly explosion at a hospital in the Gaza Strip, which sparked protests across the Middle East. But oil prices pared their gains as the morning progressed. Gold, meanwhile, kept rising as investors have looked for safer investments.THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street headed for losses before the open and oil prices surged Wednesday after an air strike on a hospital in Gaza triggered protests in many parts of the Middle East. Futures for the Dow Jones Industrial Average fell 0.2% and futures for the S&P 500 fell 0.4% before the bell.Markets have been shaken by worries that co...

French soccer club Nice suspends Youcef Atal for sharing an antisemitic message on social media

Published Tue, 25 Feb 2025 13:20:37 GMT

NICE, France (AP) — French soccer club Nice suspended defender Youcef Atal on Wednesday until further notice after he shared an antisemitic message on social media.Nice said in a statement that it had discussed the issue with Atal and that he apologized.“The player acknowledged his error by quickly withdrawing the sharing of the publication and has offered a written and public apology,” Nice said. “Nevertheless, given the nature of the publication shared, and its seriousness, the club has made the decision to immediately take the first disciplinary measures against the player, prior to any action that may be taken by sporting and legal authorities. To this end, the club has decided to suspend Youcef Atal until further notice.”The suspension comes after the Nice public prosecutor’s office opened a preliminary investigation on Monday targeting Atal on charges “of defending terrorism” for sharing the message online. The prosecutor’s office said Atal is also being investigat...

German government launches a drive to get more Ukrainian and other refugees into jobs

Published Tue, 25 Feb 2025 13:20:37 GMT

BERLIN (AP) — The German government on Wednesday announced a drive to get more Ukrainian and other refugees into jobs now that many have a usable knowledge of the German language.The government is trying to address both a shortage of skilled labor and concerns about high levels of migration. Germany has taken in more than 1 million Ukrainians since Russia’s invasion last year, and also is seeing large numbers of refugees and migrants from elsewhere.Unlike others who arrive, Ukrainians immediately receive residency status in Germany and the 26 other European Union countries. Labor Minister Hubertus Heil said 132,000 Ukrainians already have found jobs.“This is a success, but it’s far from sufficient,” he told reporters in Berlin. “It is time now to enter a new phase.”Counting Ukrainians and others who have recently completed or will soon complete integration courses, which include language learning, there is “a potential for our labor market of about 400,000 people” who ar...

Drone attack on U.S. troops intercepted in Iraq, heightening fears of a regional conflagration

Published Tue, 25 Feb 2025 13:20:37 GMT

BEIRUT (AP) — Two suicide drones launched at a base hosting U.S. troops in Iraq were intercepted Wednesday, a defense official said.Hours later, an Iranian-backed militia in Iraq announced it had launched another drone attack on a second base. No injuries were reported in either incident.The salvos came at a time of increasing tension and fears of a broader regional war in the wake of the latest Hamas-Israel war.Since the beginning of the war on Oct. 7, all eyes have been on Hezbollah, the powerful Hamas ally across Israel’s northern border in Lebanon and its formidable arsenal. The group has traded so-far limited strikes with Israel on the border in recent days.But Iranian-backed militias in Iraq have also threatened to attack U.S. facilities over American support for Israel.“Our missiles, drones, and special forces are ready to direct qualitative strikes at the American enemy in its bases and disrupt its interests if it intervenes in this battle,” Ahmad “Abu Hussein” al-Hamidawi, ...

Man accused of blowing up large teddy bear is arrested in California

Published Tue, 25 Feb 2025 13:20:37 GMT

(KTLA) -- An exploding teddy bear led to the arrest of a suspect in California and the seizure of drugs, weapons and ammunition, police said.According to an Instagram post by the San Bernardino Police Department, officers responded to a 911 call from a local business owner who said he was told by witnesses that an explosive device had gone off in the parking lot. The exact date or location of the incident was not released. Surveillance footage from the scene shows a man exiting his vehicle and placing the large teddy bear, which contained an explosive device, next to their SUV. Security footage captures a man detonating an explosive device inside a teddy bear in San Bernardino, CA. (San Bernardino Police Department)Security footage captures a man detonating an explosive device inside a teddy bear in San Bernardino, CA. (San Bernardino Police Department)Security footage captures a man detonating an explosive device inside a teddy bear in San Bernardino, CA. (San Bernardino...

'Its eyes were pleading for help': Family rescues pig swimming 2 miles off the coast of Hawaii

Published Tue, 25 Feb 2025 13:20:37 GMT

HONOLULU (KHON) - A family was heading for Chinamanʻs Hat island off of Oahu, Hawaii, when they saw what they thought was a log in the water.That's what June Mellor's family thought until it moved. Then they thought it was a dog. But when they got closer, they realized it was a boar. They shot video of it as they circled. "And then we saw it moving and we thought, 'Goodness, that can't be a dog, is it?' And we get closer because obviously it's a living thing and we realize it's not a dog. It's a little piggy," explained Mellor. "We were just baffled looking around thinking, 'Where did you come from? How did you get out here?'"It was a logical question because they were probably about two miles offshore.It took them about 40 to 45 minutes to rescue the pig as they continued circling around it."Finally, my son was able to get a rope around her torso and we pulled her in," she said. This is why it’s darker at this Honolulu beach recently June said the f...

Inside the Investigations: ACC student pandemic aid

Published Tue, 25 Feb 2025 13:20:37 GMT

AUSTIN (KXAN) — Each week the in-depth reporting from the KXAN Investigates team will get a spotlight on KXAN Live.A conversation will happen Wednesday morning with investigative reporter Kelly Wiley and KXAN Live anchor Will DuPree to break down one of this week’s top stories. Catch the live stream at 9 a.m. in this story or on the KXAN Facebook page. Inside the Investigations: Judge to decide on A-F school rating lawsuit The story they'll discuss this week is:Amid a KXAN investigation of Austin Community College’s use of student pandemic relief money, the institution acknowledged it launched an internal review of its aid distribution and how 115 full-time employees received nearly $500,000 of pandemic grants intended to help struggling students.Join Kelly Wiley and Will DuPree every Wednesday morning for a live recap of the latest headlines and in-depth reporting from the KXAN Investigates team.

ABJ: Sprouts grocery chain plans for Georgetown store

Published Tue, 25 Feb 2025 13:20:37 GMT

AUSTIN (Austin Business Journal) — Sprouts Farmers Market Inc. has secured a 15-year lease for a property north of Austin as it continues on a quest to double its footprint in Central Texas amid a nationwide expansion.The Phoenix-based grocery store chain plans to open its first store in Georgetown at the northwest corner of Williams Drive and Cedar Lake Boulevard, Dan Croce, Sprouts' senior vice president of real estate, said in an email. Sprouts, which is known for its fresh and organic food selection, will build a 23,000-square-foot store there, which could open in the fourth quarter of 2024, he said.The Georgetown store is not the only Sprouts to recently open in Central Texas. The grocery store company opened a location in the Mueller neighborhood on Friday, according to the company. Read the full story from Austin Business Journal.

APD identifies victim in fatal crash on Bastrop Highway

Published Tue, 25 Feb 2025 13:20:37 GMT

AUSTIN (KXAN) — The Austin Police Department has identified the victim of a deadly crash in September in southeast Austin. On Sept. 30, first responders were called to a single-vehicle crash on Bastrop Highway around 5:30 a.m. MAP: Where have Austin’s fatal crashes occurred in 2023? APD said the driver, 22-year-old Angel Parra, was taken to the hospital where Parra died. Police said this was investigated as Austin's 69th fatal crash of 2023.