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Loblaw calls out ongoing ‘outsized’ price hikes from big brand-name food companies

Published Wed, 26 Feb 2025 06:16:36 GMT

Canada’s largest grocer says its product costs have risen by nearly $1 billion so far this year — double the historic norm — as it continues to  to see “outsized” price increases from big multinational food brands.Loblaw Companies Ltd. said Wednesday the cost hikes appear out of sync with the commodity cost environment, and are contributing to elevated food inflation in Canada. While small- and medium-sized Canadian food suppliers appear to be “catching up on costs,” the price increases passed on by large food companies are “more concerning,” said Loblaw chief financial officer Richard Dufresne.“We are still seeing outsized cost increases rolling in from large, global consumer goods companies, exceeding what we expected at this point,” he said during a call with analysts. His comments came as Loblaw reported a profit of $418 million in its first quarter, down from $437 million last year when the company saw a one-time gain from a...

Russia says Ukraine sent drones to hit Putin; Kyiv denies it

Published Wed, 26 Feb 2025 06:16:36 GMT

KYIV, Ukraine (AP) — Russia claimed it foiled an attack by Ukrainian drones on the Kremlin early Wednesday, calling it an unsuccessful assassination attempt against President Vladimir Putin and promising retaliation for what it termed a “terrorist” act. The Ukrainian president denied it, saying “We don’t attack Putin or Moscow.”Putin wasn’t in the Kremlin at the time and was at his Novo-Ogaryovo residence outside Moscow, his spokesman Dmitry Peskov told Russia’s state news agency RIA Novosti.There was no independent verification of the reported attack on the Kremlin, which Russia authorities said occurred overnight but presented no evidence to support it. Questions also arose as to why it took the Kremlin hours to report the incident and why videos of it also surfaced that late in the day.A video posted overnight on a local Moscow news Telegram channel, shot from across the river from the Kremlin, appeared to show smoke rising over the buildings. It wasn’t possible to ascertai...

S&P/TSX composite down as price of oil drops below US$70 per barrel

Published Wed, 26 Feb 2025 06:16:36 GMT

TORONTO — Canada’s main stock index was lower in late-morning trading, weighed down by losses in the energy stocks as the price of oil fell below US$70 a barrel, while U.S. stock markets were mixed. The S&P/TSX composite index was down 11.58 points at 20,395.98.In New York, the Dow Jones industrial average was down 64.53 points at 33,620.00. The S&P 500 index was down 1.19 points at 4,118.39, while the Nasdaq composite was up 34.14 points at 12,114.65.The Canadian dollar traded for 73.43 cents US, unchanged from Tuesday.The June crude contract was down US$2.60 at US$69.06 per barrel and the June natural gas contract was down nine cents at US$2.12 per mmBTU.The June gold contract was up US$6.10 at US$2,029.40 an ounce and the July copper contract was down two cents at US$3.84 a pound.This report by The Canadian Press was first published May 3, 2023.Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)The Canadian Press

Vehicle sales still below pre-pandemic levels in April: DesRosiers

Published Wed, 26 Feb 2025 06:16:36 GMT

RICHMOND HILL, Ont. — DesRosiers Automotive Consultants says light vehicle sales in April were still below pre-pandemic levels, at 144,069 units compared with 180,616 in April 2019. Sales in April were also slightly below March, and up just 2.3 per cent from a year earlier.DesRosiers managing partner Andrew King says in a statement that the seasonally adjusted annual rate for April was 1.48 million units.King says that’s easily the weakest reading so far in 2023, and a worrying sign for future market development. So far, 2023 is mirroring 2022 and 2021, the consulting firm says, with the traditional automotive spring selling season failing to materialize. That’s despite the auto sales market managing to post six straight months of percentage increases. This report by The Canadian Press was first published May 3, 2023.The Canadian Press

Wheels in motion for next Philly Naked Bike Ride in August

Published Wed, 26 Feb 2025 06:16:36 GMT

PHILADELPHIA (AP) — Eager for another nude bike ride through the City of Brotherly Love? Keep your shirt on — for now.The next Philly Naked Bike Ride is coming in August.Organizers of the annual jaunt to promote fuel conservation and positive body image said Wednesday they are holding the Aug. 26 starting location and route under wraps and will disclose them the day before. Previous rides have zipped past sites including Independence Hall, the U.S. Mint, the Liberty Bell and the Philadelphia Museum of Art, where Sylvester Stallone sprinted up the steps in “Rocky.” The 2020 ride was called off because of the coronavirus pandemic.The 10-mile (16-kilometer) Philadelphia ride, related to the World Naked Bike Ride movement, draws about 3,000 bikers in the buff. Organizers say they hope it encourages people to bike more and to embrace nudity as a normal and enjoyable part of life.The ride used to be held in September. But the nude bicyclists said it was too chilly, with temperatures reach...

Quebec premier says loss of two firefighters most difficult part of spring flooding

Published Wed, 26 Feb 2025 06:16:36 GMT

BAIE-SAINT-PAUL, Que. — Quebec Premier François Legault expressed his sympathy today to residents of flood-hit towns during a visit to the Charlevoix region.Legault told reporters in Baie St-Paul, northeast of Quebec City, that the most difficult part of the recent flooding has been the loss of two volunteer firefighters.The two men were swept away by floodwaters not far from Baie St-Paul while attempting to rescue local residents.Legault says the government will help citizens relocate, renovate damaged homes and replace furniture.Earlier in the day he spoke with residents who said they were given five minutes to evacuate and that they had lost homes built by their grandparents.The Public Security Department has said a half-dozen communities across the province have declared states of emergency due to flooding.This report by The Canadian Press was first published May 3, 2023.The Canadian Press

Newspaper delivery driver carjacked at gunpoint in Oak Park

Published Wed, 26 Feb 2025 06:16:36 GMT

OAK PARK, Ill. — A newspaper delivery driver was carjacked at gunpoint in Oak Park.The incident happened around 4:15 a.m. Wednesday in the 400 block of North Elmwood. Police said the victim was delivering newspapers and was out of his vehicle when approached by four juvenile males. One displayed a pistol, according to police.The juveniles drove off in the victim's vehicle, which was tracked via OnStar and located on Harlem and Jackson. The offenders fled on foot but were later caught and taken into custody. Man charged with murder of woman in Rogers Park Police said the gun was discovered in the vehicle.

Chicago offering $600 summer bonus for lifeguards

Published Wed, 26 Feb 2025 06:16:36 GMT

CHICAGO — The Chicago Park District is offering a $600 summer bonus in an effort to recruit more lifeguards.Candidates must successfully complete all required trainings and fulfill their duties during the summer season. In addition to the $600 bonus, the district is offering a free Divvy membership, tickets to Chicago Fire games and the chance to win a one-day pass to Lollapalooza.“We rely on our summer workforce to fully deliver on the essential, quality summer programs and services that residents have come to expect from us. The retention bonus is one approach to attract and retain the most qualified and enthusiastic lifeguards needed to open all beaches and pools this summer,” said Chicago Park District CEO & Supt. Rosa Escareño. “In addition, we’re looking ahead to next year and focused on offering competing wages and building our future pipeline of summer workers and lifeguards disrupted over the past two years.”During the summer, the average current wage will be raised to ...

Olive Garden owner buys Ruth's Chris Steak House for about $715 million

Published Wed, 26 Feb 2025 06:16:36 GMT

The Ruth’s Chris Steak House chain is being acquired by Darden Restaurants for about $715 million.The original Chris Steak House was opened on New Orleans' Broad Street in 1927, and it was acquired by Ruth Fertel in 1965. The company has 154 locations worldwide, including 80 company-owned or -operated restaurants and 74 franchised restaurants. Why is Ruth’s Chris Steak House called ‘Ruth’s Chris Steak House’? The company, now based in Winter Park, Florida, suffered as most restaurants did during the pandemic, closing 23 restaurants in early 2020, furloughing workers and announcing that executives were taking less pay.Shares of Ruth’s Hospitality Group Inc., which owns the restaurants, recovered within a year of the outbreak. Shares were halted before the market opened and jumped more than 30% at the opening bell.Darden, also based in Florida, is acquiring all outstanding shares of Ruth’s for $21.50 per share, a 34% premium."Ruth’s Chris is a strong and distinctive brand in the fin...

First commercial smart gun with facial, fingerprint recognition launches

Published Wed, 26 Feb 2025 06:16:36 GMT

BROOMFIELD, Colo. (KDVR) — A Colorado native has created the first commercial biometric gun with fingerprint and facial recognition.Biofire Technologies founder and CEO Kai Kloepfer started working on smart guns nearly 11 years ago, in the wake of the Aurora theater shooting. “I had been to that movie theater, and so that's … what prompted me to start thinking about, you know, rather than building a robot or some other piece of technology, would it make sense to think about some piece of technology on a gun?" Kloepfer said. Gun owners group suing Polis, state over new laws Kloepfer started working on the idea for a science fair project. Over a decade later, the Biofire Smart Gun has been crafted with home defense in mind."I've never talked to a gun owner that wanted their kid to find their gun," Kloepfer said. "If we can provide them better tools that ensure that there's no possibility for mistakes, that their kid will never have access to that firearm, I think that's re...