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BoC expected to raise rates again this week, vying to quash inflation faster

Published Sat, 22 Feb 2025 04:41:56 GMT

OTTAWA — The Bank of Canada is expected to raise interest rates again this week as forecasters say the economy has not softened enough for the central bank to back off. The interest rate announcement is scheduled for Wednesday, just over one month after the central bank hiked its key rate by a quarter of a percentage point, bringing it to 4.75 per cent.The June decision brought an end to the Bank of Canada’s pause on rate hikes after a string of hot economic data prompted concerns that rates were not high enough to bring inflation back to its two per cent target.Deloitte’s chief economist, Dawn Desjardins, said there have been some recent signs that the economy is taking a turn, with the latest job report for June showing the unemployment rate rising and wage growth slowing. But the overall picture suggests inflation is still sticky, wage growth is high and the economy continues to churn, she said. “I do think that we are seeing things shift. Are they shifting fast...

Does turning the air conditioning off when you’re not home save energy?

Published Sat, 22 Feb 2025 04:41:56 GMT

(The Conversation) - Hot summer days can mean high electricity bills. People want to stay comfortable without wasting energy and money. Maybe your household has fought over the best strategy for cooling your space. Which is more efficient: running the air conditioning all summer long without break, or turning it off during the day when you’re not there to enjoy it? We are a team of architectural and building systems engineers who used energy models that simulate heat transfer and A/C system performance to tackle this perennial question: Will you need to remove more heat from your home by continuously removing heat throughout the day or removing excess heat only at the end of the day?The answer boils down to how energy intensive it is to remove heat from your home. It’s influenced by many factors such as how well your house is insulated, the size and type of your air conditioner and outdoor temperature and humidity. According to our unpublished calculations, letting your home heat up...

America faces a power disconnection crisis amid rising heat: In 31 states, utilities can shut off electricity for nonpayment in a heat wave

Published Sat, 22 Feb 2025 04:41:56 GMT

(THE CONVERSATION) – Millions of Americans have been sweltering through heat waves in recent weeks, and U.S. forecasters warn of a hot summer ahead.Globally, 2023 saw the warmest June on record, according to the European Union’s climate change service. That heat continued into July, with some of the hottest global daily temperatures on satellite record, and possibly the hottest.For people who struggle to afford air conditioning, the rising need for cooling is a growing crisis.An alarming number of Americans risk losing access to utility services because they can’t pay their bills. Energy utility providers shut off electricity to at least 3 million customers in 2022 who had missed a bill payment. Over 30% of these disconnections happened in the three summer months, during a year that was the fifth hottest on record.In some cases, the loss of service lasted for just a few hours. But in others, people went without electricity for days or weeks while scramb...

Stuck at a red light? You may need to let it know you're there

Published Sat, 22 Feb 2025 04:41:56 GMT

(NEXSTAR) - It’s probably happened to you. You pull up to a stop light, and you wait patiently for the light to turn green. Maybe cross traffic continues moving through the intersection, or maybe you’re the only car at the intersection. Yet somehow, the light never seems to turn green. Chances are, you’re sitting at a light that doesn’t know you’re there. Some traffic lights run on timers, which can vary by the time of day or during certain events. In Minneapolis, for example, there are set patterns for lights during Minnesota Twins or Timberwolves games and other special events. If that’s the case, you’ll be stuck waiting your turn for the light to change. However, other traffic lights rely on detection devices, including cameras or underground sensors. Drivers in these cities are most likely to get stuck at red lights You’ve likely seen the latter — before the stop line, you’ll notice a rectangle outlined in tar or that has a different color than the pav...

Hays County: Brush fire 90% contained

Published Sat, 22 Feb 2025 04:41:56 GMT

HAYS COUNTY, Texas (KXAN) – A brush fire near Hilliard Road in Hays County is about 85 acres in size as of late Saturday, according to the Texas A&M Forest Service.Hays County said the Vineyard Hill fire was about 90% contained as of 9:30 a.m. Sunday. The county said crews worked overnight, and work may be completed by noon. More dozers will come to improve the fire line Sunday morning. "We've got plenty of water on hand," Mike Jones, Hays County's director of emergency services, said.No homes are currently at risk from the fire, and Jones said that his agency is not planning any evacuation of civilians. A brush fire near Hilliard Road in Hays County has reached nearly 150 acres as of 9 p.m. Saturday (Photo Courtesy Hays County Judge Ruben Becerra).A brush fire near Hilliard Road in Hays County has reached nearly 150 acres as of 9 p.m. Saturday (Photo Courtesy Hays County Judge Ruben Becerra).A brush fire near Hilliard Road in Hays County has reached nearly 150 acres as of 9 p.m...

Unwanted, expired COVID-19 tests mailed to Central Texans; Medicare billed for them

Published Sat, 22 Feb 2025 04:41:56 GMT

DRIPPING SPRINGS, Texas (KXAN) — Richard McGinn recalls the first package of COVID-19 tests he received in the mail in April. He said he was puzzled since he had never ordered the tests or requested them.Richard McGinn sits at his desk with a collection of unwanted COVID-19 tests he's received in the mail. (KXAN Photo/Arezow Doost)"We get them in continuous days, and it went on for about four or five weeks," McGinn explained. He said that something didn't seem right, so he started saving the tests. He's collected more than 50 boxes of at-home COVID-19 tests. "It was from places in California and Wisconsin and Florida. Different laboratories were sending them to us," McGinn said "It just felt wrong." In Austin, Suzann Madeley opened a big tan bag where she stored all the tests she had received. Some she said that had arrived already expired. "Here I am sitting with all of these that could have been used by someone and it makes me furious," Madeley said. "It makes me fu...

Real World Economics: For Biden, it’s the ‘no respect’ economy

Published Sat, 22 Feb 2025 04:41:56 GMT

Edward LottermanNo respect! No respect at all! Joe Biden may feel that 1980s gag line hitting home when he reads polls indicating that the U.S. public thinks he’s doing a bad job on the economy.This even though all the key numbers — inflation, unemployment and output — show the economy is doing very well. In fact, right now the U.S. is doing the best of any of the G-7 industrialized economies in all three of these metrics.But Joe’s newly branded “Bidenomics” is getting little credit so far. Why?To understand this, we could hark back to the 1992 presidential campaign between George H.W. Bush and Bill Clinton. At an early debate in which audience members could ask questions, a young woman asked Bush what he was going to do about inflation.Bush was flummoxed. Inflation in mid-1992 was running about 3%, about the lowest in more than 20 years, and during his first term it was the best since the Johnson administration in the late 1960s. Low inflation wa...

Crews remain on scene after 12 homes damaged in landslide in Rolling Hills Estates

Published Sat, 22 Feb 2025 04:41:56 GMT

A massive landslide forced the evacuation of a dozen homes in a Los Angeles County neighborhood late Saturday night, and police, fire and utility company officials were on scene as early as 6 a.m. Sunday morning with the area completely closed off.At least 12 homes were evacuated in Rolling Hills Estates along Peartree Lane next to the canyon area, the Los Angeles County Fire Department said. A total of 16 residents were forced to leave their residences.SoCal Edison shut off power in the area, and Southern California Gas Company crews were called in to make sure no gas lines had been ruptured.According to to the L.A. County Fire Department, cracks were first discovered in the structure of one home, which led crews to find that the damage had progressed to neighboring residences."They discovered cracks along the structure of one building, and upon further investigation they realized that there were some cracks running through one home specifically, and it was progressing to the next...

6 victims in French Valley Airport plane crash identified 

Published Sat, 22 Feb 2025 04:41:56 GMT

The Riverside County Sheriff’s Department has released the identities of the six victims who died in a small plane crash near the French Valley Airport in Murrieta early Saturday morning. The victims include the pilots, Riese Lenders, 25, of Rancho Palos Verdes and 32-year-old Manuel Vargas-Regalado of Temecula, as well as his wife, 33-year-old Abigail Tellez-Vargas.  In addition, 46-year-old Ibrahem and 51-year-old Alma Razick of Temecula were also killed in the crash. The sixth victim was identified as Lindsey Gleiche, 31, of Huntington Beach. All six victims died after heavy fog limited visibility near the French Valley Airport, causing the business jet to miss the runway by several hundred yards.  A jet carrying six people crashed near French Valley Airport in Murrieta early Saturday morning, marking the second deadly incident at the airstrip in one week. (KTLA)A jet carrying six people crashed near French Valley Airport in Murrieta early Saturday morning, ma...

Cupertino’s 50-plus softball league promotes competition, camaraderie

Published Sat, 22 Feb 2025 04:41:56 GMT

The boys and girls of summer who gathered on the softball field at Cupertino’s Memorial Park late last month had a few more summers behind them than your average player.Bill Bonin was celebrating his 73rd birthday when he played in the June 29 game with the 50-plus co-ed softball league organized by the Cupertino Senior Center.“I like the competition and the camaraderie and the exercise,” said Bonin, who played intramural softball in college at UC Berkeley and has lived in Cupertino for 20 years.Harlan Jackson has been involved in the popular softball league for more than 10 years. Jackson, who has lived in Cupertino for more than 60 years, said he loves the personalities in this once-a-week league.“Everybody is fun; everybody’s out to have fun,” Jackson said. “What I like about this group is that everyone is understanding about everyone else’s strengths and limitations.”The league starts play at the end of March each year, if the weather is cooperating, and runs until the beginning...