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Summer interest rate hike likely given recent momentum, economists say

Published Fri, 07 Feb 2025 13:06:44 GMT

Momentum in the Canadian economy is spurring speculation that a rate hike is on the way, but economists don’t expect the Bank of Canada to pull the trigger this week.The central bank will be making its next interest rate decision on Wednesday, just one week after new data showed the Canadian economy is still growing – despite interest rates sitting at the highest levels since 2007.Statistics Canada recently reported real gross domestic product grew at an annualized rate of 3.1 per cent during the first quarter. The figure beat out what forecasters had pencilled in for the first three months of the year.Meanwhile, the federal agency’s preliminary estimate for April suggests the economy expanded once again.Even the housing market, which was the first to be hit by rising interest rates, appears to have levelled off as prices rise again.Economists say the momentum is putting the Bank of Canada in a tough spot: the central bank has argued that a slowdown is necessary to...

Trader Joe's explains why it discontinues items more often than other grocery stores

Published Fri, 07 Feb 2025 13:06:44 GMT

(NEXSTAR) – If you had known it was the last time you'd see the feta salad dressing or the chocolate-filled Joe-Joe's on the shelves, you might have taken an extra bottle or box. But the disappointment of a discontinued item at Trader Joe's often takes you by surprise, when it's too late to do much about it. Fans of the grocery chain are familiar with the stores' constantly rotating repertoire of snacks, ingredients and frozen meals. But new items typically mean the company has to give something the boot, and sometimes it's your preferred ice cream flavor that takes the hit. The No. 1 reason items are discontinued, the company explained in a 2022 episode of the Inside Trader Joe's podcast, is low sales volume. You'd think that would be the case for any grocery store, but it happens more often at Trader Joe's for a few reasons. Trader Joe’s addresses ‘conspiratorial theories’ about its small parking lots First off, the stores tend to be smaller than their competitors. "We just phy...

Sunday Brunch: Banana Foster French toast

Published Fri, 07 Feb 2025 13:06:44 GMT

Check out this morning's Sunday Brunch with Lure's Fishbar. Chef Nepalti Mendoza to make Banana's Foster French toast.Love the WGN Morning News? We love you, too. And you can have all the hijinks delivered to your inbox every weekday morning. Sign up and subscribe to our WGN Morning News newsletter.

Weekend Break at Raging Waves Waterpark

Published Fri, 07 Feb 2025 13:06:44 GMT

Check out this morning's Weekend Break with Marcella Raymond where we visit Raging Waves Waterpark in Yorkville.Love the WGN Morning News? We love you, too. And you can have all the hijinks delivered to your inbox every weekday morning. Sign up and subscribe to our WGN Morning News newsletter.

GOP hopefuls slam Trump for comments praising Kim Jong Un

Published Fri, 07 Feb 2025 13:06:44 GMT

(The Hill) – Several Republican presidential hopefuls slammed former President Trump for his comments praising North Korean leader Kim Jong Un on Saturday, after the country received a seat on the World Health Organization’s (WHO) executive board.Former Vice President Mike Pence, former U.S. ambassador to the United Nations Nikki Haley and Florida Gov. Ron DeSantis all criticized the former president, who offered his congratulations to Kim in a Truth Social post on Friday.“No one should be praising the dictator in North Korea or praising the leader of Russia who has launched an unprovoked war of aggression in Ukraine,” Pence told Fox News while in Iowa on Saturday. “This is a time when we ought to make it clear to the world that we stand for freedom and we stand with those who stand for freedom.”The former Indiana governor also attacked the organization, claiming it "let America and the world down" during the COVID-19 pandemic."I mean, they literally were complic...

Florida woman's car catches fire as she was allegedly shoplifting

Published Fri, 07 Feb 2025 13:06:44 GMT

OVIEDO, Fla. (AP) — A Florida woman faces charges of aggravated child neglect and arson after her car became engulfed in flames while she was allegedly shoplifting at a mall, according to an arrest report.Alicia Moore, 24, parked her car in a parking lot outside a Dillard's department store at Oviedo Mall on May 26, according to an arrest report filed by the Oviedo Police Department. The report indicated Moore left children inside the vehicle. Their names and ages were redacted.Security saw Moore and an unknown man shoplifting in Dillard's, according to the report. After about an hour, Moore began leaving Dillard's to see her car engulfed in flames and dropped the merchandise before she left the store. Cement-filled toilets and dead fish: School district bars more than 80 seniors from graduation over ‘pranks’ Bystanders at the mall saw the car and rescued the children inside trying to escape the flames. The children were taken to Orlando Health Arnold Palmer Hospital for Children....

The most and least driven electric cars

Published Fri, 07 Feb 2025 13:06:44 GMT

(iSeeCars) -- The average 3-year-old electric car has been driven 9,059 miles per year, almost 29 percent less than the 12,758 miles per year 3-year-old gas-powered internal combustion vehicles drive. As a brand, Tesla tops the list for most-driven electric cars, with all four of its models beating the average for EVs. The Tesla Model X, a midsize family SUV with three rows of seating, is the most-driven electric car, averaging 10,378 miles a year.Summary: Teslas are the most-driven electric cars, with all four models ranking at the top of the listThe average electric car is driven 9,059 miles a year, compared to 12,758 miles for gas-powered vehiclesElectric cars cost 47 percent more than internal combustion cars, but are driven 29 percent lessThe strong relationship between an EV’s range and driving behavior confirms more range will increase use, but that’s not a realistic solution at today’s battery costsiSeeCars analyzed the data of over 860,000 vehicles to determine which e...

Real World Economics: Beefing about beef prices? Look down the food chain

Published Fri, 07 Feb 2025 13:06:44 GMT

Edward LottermanOne hears much beefing about beef prices these days.A recent online comment moaned about paying $72 for three New York strip steaks at Costco. We got a large beef roast and paid $48. What’s going on? Why are prices so high?The answer is simple: Many things. Teasing out the exact cause and effect takes time. But consider these factors:Price gouging by monopolies is the root of all inflation for the progressive Elizabeth Warren-Bernie Sanders wing of the Democratic party. In one aspect and to a degree they are right, although the root causes of inflation remain in the Fed’s monetary policies.However, a government fixation from the 1930s through the 1970s on busting monopolies and punishing price fixing has swung 180 degrees — to government for the next four decades turning a blind eye to abusive market power. In that time, there was a lot of consolidation and adoption of business practices that reduced competition and increased consumer costs in many industries.T...

Duck Donuts joins Colonie Farmers Market at Crossings Park

Published Fri, 07 Feb 2025 13:06:44 GMT

COLONIE, N.Y. (NEWS10) -- While National Donut Day was on June 2nd, Duck Donuts in Latham is keeping the party going with a visit to NEWS10 to talk about their summer offerings. Get the latest, news, weather, sports and community events delivered right to your inbox! Duck Donuts will be available at the Colonie Farmers Market at Crossings Park this season. Additionally, their Latham shop features cool treats for hot summer days like cold brew and ice cream.NEWS10's Giuliana Bruno interviewed Duck Donuts Manager, "Donut Dave," about the latest at the build-your-own treat shop. You can watch the full interview in the player above.

Thousands impacted by Schenectady County power outage

Published Fri, 07 Feb 2025 13:06:44 GMT

SCHENECTADY COUNTY, N.Y. (NEWS10) -- More than 20,000 National Grid customers lost power Sunday morning in Schenectady County, according to an online outage map. The outages spanned across Schenectady and Rotterdam. Get the latest, news, weather, sports and community events delivered right to your inbox! A National Grid spokesperson and Schenectady Fire Chief Don Mareno told NEWS10 the outage is attributed to two incidents in Rotterdam. A fire at a BBQ restaurant on Mariaville Road between 6:00 a.m. and 6:30 a.m. that impacted a power line, and a vehicle that crashed into a power pole on Altamont Avenue, both contributed to the issues.According to National Grid's outage map, most of the affected areas had their power restored by 9:45 a.m.