Canadian bank expects short-lived recession in 2023 | Ap | thederrick.com

2022-07-07 20:00:51 By : Mr. Scott huang

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A few clouds. Low 56F. Winds N at 5 to 10 mph..

A few clouds. Low 56F. Winds N at 5 to 10 mph.

TORONTO (AP) — A report issued Thursday by the Royal Bank of Canada says the country is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns.

RBC economists said that soaring food and energy prices, rising interest rates and ongoing labor shortages will push the economy into a "moderate contraction″ next year.

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Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

'THE NARROW ROAD A Guide to Legacy Wealth' by Dr. Pamela C. V. Jolly - On Sale September 12, 2022

ATLANTA — Citing concerns about witness intimidation ahead of next year’s trial, the Fulton County judge overseeing the case of rappers Young Thug and Gunna is prohibiting defense attorneys from sharing certain information about the state’s witnesses with their clients.

Once-unthinkable coordination between Israeli and Arab militaries is coming into greater focus as Joe Biden heads into his first Middle East trip as president. The budding Arab-Israeli security alliance is heightening debates over whether the U.S.-backed initiative between former enemies strengthens regional defenses against Iran or risks plunging the region into greater war. The Israeli-Arab security overtures have multiplied since the 2020 Abraham Accords normalized relations between Israel and four Arab League nations. Biden defends his meeting next week with Saudi rulers he had once shunned by saying he is going in part at Israel’s request.

NEW YORK — The lookout man in a botched Queens robbery where a veteran New York Police Department detective died from friendly fire was sentenced Thursday to 30 years to life on a felony murder conviction.

A rights watchdog says former officials in Poland have been identified among the victims of attempted phone hacking with the use of the powerful Pegasus spyware developed by Israel’s NSO Group. Amnesty International says it confirmed the new victims of spying in collaboration with Poland’s Gazeta Wyborcza daily. The daily identified the alleged victims Thursday as former deputy treasury ministers Pawel Tamborski and Rafal Baniak, as well as some advisers in the previous liberal government. They were linked to the 2014 sale of state chemical giant CIECH to a private investor. The current conservative government, which won power in 2015, says the company was sold at a loss and blames members of the previous administration.

Here are the bestsellers for the week that ended Saturday, July 2, compiled from data from independent and chain bookstores, book wholesalers and independent distributors nationwide, powered by NPD BookScan © 2022 NPD Group.

Rescue crews in northern Italy have recovered a tenth body following a deadly avalanche sparked by the collapse of a chunk of melting glacier. Alpine rescue crews used dogs and drones to find the remains on the Marmolada glacier east of Bolzano. To date only six of the 10 bodies have been positively identified, including those of two Czech citizens on Thursday. Crews have found body parts at the site of Sunday's disaster, evidence of the fierce force of impact of the avalanche on the hikers.

A former company office manager has been sentenced to four years in federal prison for stealing over $580,000 from the business, including COVID-19 relief funds, and using the money to buy a boat and other items. Thirty-five-year-old Jessica Pechtel had pleaded guilty in court in New Hampshire to one count of fraud. Pechtel, of Andover, Massachusetts, had full access to the company’s finances. Prosecutors said she made unauthorized purchases and transfers of funds to accounts that she controlled over 18 months. Her lawyer asked for a sentence of five years of supervised release, noting that she had been released for five months under supervision, and there were no issues.

Antoneta Alamat Kusijanović's debut feature “Murina,” about a 17-year-old girl with a domineering father living in a sun-soaked paradise on the Adriatic, has been likened to a Patricia Highsmith thriller. Kusijanović says “Misogyny and disrespect of women is the same everywhere. It just has different names."  The film, produced by Martin Scorsese and starring Gracija Filipović, won Kusijanović a prize for best first feature at the Cannes Film Festival in 2021. Scorcese wrote that he's "excited for audiences...to witness the emergence of an extremely talented young filmmaker." “Murina” opens in New York on Friday and in Los Angeles on July 15.

A report by the Royal Bank of Canada says the country is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns. RBC economists say that soaring food and energy prices, rising interest rates and ongoing labor shortages will push the economy into a "moderate contraction″ next year. RBC said Thursday it expects the unemployment rate to reach 6.6% in 2023, but doesn’t think it will take long to reverse some of that weakness in 2024 and beyond. The unemployment rate dropped to 5.1% in May, the lowest level on record.

Nebraska Republican state Sen. Mike Flood will officially join the U.S. House on Tuesday when he’s sworn in to fill the seat of disgraced former U.S. Rep. Jeff Fortenberry. Flood, a former speaker of the Nebraska Legislature, will take his oath of office at the U.S. Capitol. Flood defeated Democrat Patty Pansing Brooks in a special election to represent the state’s 1st Congressional District, which includes Lincoln and dozens of smaller communities. Fortenberry, a Republican, resigned in March shortly after a California jury found him guilty of charges that he lied to federal investigators about $30,000 in illegal campaign contributions from a Nigerian billionaire. Flood will hold the seat until at least January. He'll face Pansing Brooks again in November.

TAMPA, Fla. — Agriculture officials say they’ve captured more than 1,000 giant African land snails from Pasco County since the invasive pest — “one of the most damaging snails in the world” — was first detected around New Port Richey in late June.

PHILADELPHIA — A legal advocacy group formed in hopes of disbarring and disciplining lawyers who aided Donald Trump's push to overturn the outcome of the 2020 election filed complaints Thursday with the Pennsylvania Supreme Court against seven lawyers in the state for their involvement in th…

Officials in Las Vegas are mulling a curfew for those under the age of 21 following recent shootings and gun violence in the downtown area.

A jury on Thursday convicted former Theranos executive Ramesh “Sunny” Balwani of collaborating with disgraced Theranos CEO Elizabeth Holmes in a massive fraud involving the blood-testing company that once enthralled Silicon Valley. The 12 jurors found Balwani guilty on all 12 felony counts of defrauding both Theranos investors and the patients who relied on wildly unreliable blood tests that could have jeopardized their health. Balwani sat expressionless as the verdicts were read.

With Roe v. Wade overturned, the Shades of Blue Project will host a week-long event and discuss its impact to the maternal mental health of Black women

FORT LAUDERDALE, Fla. — As the Marjory Stoneman Douglas High School mass shooting case inches closer to trial, the judge overseeing it is setting down strict rules to protect sensitive crime scene photos and videos from leaking to the general public.

The last scenes in "Thor: Love and Thunder" underscore why the preceding 100 minutes have been such fun.

Beyoncé is building on her own foundation of musical excellence by making history — yet again.

Spain will use Qatar University as its headquarters during the World Cup. The Spanish soccer federation says FIFA has approved Spain’s request to stay at the university during the tournament in November and December. Two training fields will be used exclusively by the Spanish national team. The federation says the university has all other facilities needed for Spain’s preparations during the competition, including gyms, recovery areas and meeting rooms. Qatar University is located about 20 kilometers from Al Thumama Stadium, where Spain will open its campaign against Costa Rica on Nov. 23. Spain then plays against Germany and Japan on Group E.

Here are the bestsellers for the week that ended Saturday, July 2, compiled from data from independent and chain bookstores, book wholesalers and independent distributors nationwide, powered by NPD BookScan © 2022 NPD Group.

The Los Angeles Kings have hired former goaltender Manon Rheaume as a hockey operations and prospect adviser. She's the latest woman to join or be promoted by an NHL team amid a leaguewide push to increase front office diversity. Rheaume is best known for playing exhibition games for the Tampa Bay Lightning in 1992 and '93. She became the first woman to play in one of the four major North American professional sports leagues. She is now among the nearly 100 women working in a hockey operations, player development or player health and safety role for a team.

A massive expansion of Arizona’s private school voucher system awaits Republican Gov. Doug Ducey’s expected signature as he faces a signing deadline. Public education advocates are promising to block the bill and want voters to erase it during November’s election. The expansion Ducey is certain to sign Thursday will allow every parent in Arizona to take public money now sent to the K-12 public school system and use it to pay for their children's private school tuition or other education costs. It's estimated that over 1 million Arizona students would qualify. Only about 12,000 students now get vouchers.

Ramesh "Sunny" Balwani, Elizabeth Holmes' former partner, found guilty in Theranos blood-testing fraud.

AUSTIN, Texas — Texas' juvenile detention facilities say staff shortages have forced them to keep youth confined to their rooms for up to 22 hours a day and cut off new intakes.

LOS ÁNGELES--(BUSINESS WIRE)--jul. 7, 2022--

A NATO senior official says Western Balkan countries don’t face an “imminent threat” from the war in Ukraine, and are of strategic interest to the alliance. NATO’s Deputy Secretary General Mircea Geoana was in Kosovo’s capital, Pristina, to meet with local officials and visit the NATO-led KFOR mission. Geoana denounced Russia’s “illogical and brutal war” in Ukraine and its “aggressive and malign influence over the Western Balkans.”

When Brittney Griner pleaded guilty to drug possession in a Russian court, hopes rose that her months of detention may soon be over, either through a U.S.-Russia prisoner swap or a pardon from President Vladimir Putin. But Russian courts often move slowly, Russian resentment over the high-profile case could obstruct a deal and the fate of an American imprisoned for espionage may be critical to freeing Griner. The standout for the WNBA’s Phoenix Mercury was arrested in February at a Moscow airport after vape canisters with cannabis oil were allegedly found in her luggage. She faces up to 10 years in prison.

The French government has unveiled a 20 billion-euro ($20.3 billion) package of measures meant to help struggling households cope with the consequences of the war in Ukraine, including rising energy and food prices. The proposed legislation was presented at a Cabinet meeting Thursday. The measures are to be debated in parliament later this month. The move comes as France's annual inflation is estimated at 6,5%, pushed higher by a huge increase in food and energy costs fueled partly by Russia’s war in Ukraine. The measures include increasing pensions and welfare payments, including family benefits. The government also plans to cap rent increases this year.

Two families are suing a southern Indiana funeral home where police found more than 30 bodies, including some that were badly decomposed. In a lawsuit filed Tuesday in Clark Superior Court No. 6, Cynthia Faye Cook and Jeffrey Lorey allege that Lankford Funeral Home in Jeffersonville gave them misleading information about the remains of their daughter, Nicole Dallas Lorey. They say the funeral home’s director, Randy Lankford, told them the company didn’t have a container in which to send her remains. The family of James “Mike” Settle alleges Lankford gave them similar reasons for not sending them his remains. The families' lawyer, Larry Wilder, told The Associated Press on Thursday that other families are expected to join the suit.

U.S. prosecutors have announced charges against a government agent and private investigator in a widening probe of an alleged scheme to stalk and harass Chinese dissidents in the United States. Department of Homeland Security Deportation Officer Craig Miller and former DHS worker Derrick Taylor were named in an indictment filed in federal court in New York City on Thursday. According to court papers, a Chinese operative hired Taylor to obtain personal information about several Chinese dissidents living in the United States. Taylor allegedly recruited Miller to provide him records. It was unclear if they had attorneys who could comment on the allegations. A message was left on Thursday with DHS.

Rafael Nadal withdraws from Wimbledon semifinal match because of injury; Nick Kyrgios advances to Sunday's final.

LOS ANGELES, Calif., July 7, 2022 (SEND2PRESS NEWSWIRE) — Active in drug education and prevention throughout the year, Scientology Churches and Scientologists go all out in support of the UN’s International Day Against Drug Abuse and Illicit Trafficking.

NEW YORK — James Caan, whose explosive performance as the hotheaded Sonny Corleone in “The Godfather” produced some of the most memorable moments in movie history, died Wednesday at age 82, his family announced Thursday.

The commissioner of the Internal Revenue Service has asked the Treasury Department’s inspector general to immediately review the circumstances surrounding intensive tax audits that targeted ex-FBI Director James Comey and ex-Deputy Director Andrew McCabe. Both men were frequent targets of President Donald Trump’s anger. IRS spokesperson Jodie Reynolds says Thursday that IRS Commissioner Charles Rettig had personally reached out to the Treasury Inspector General for Tax Administration. The probe comes a day after The New York Times reported that Comey and McCabe were subjected to rare IRS audits of their tax returns. The newspaper said Comey was informed of the audit in 2019 and McCabe learned he was under scrutiny in 2021.

LOS ANGELES — The growing dominance of two highly infectious omicron subvariants is threatening to exacerbate California’s coronavirus wave, but experts and officials say there are sensible steps residents can take to protect themselves.

ATLANTA — Republicans filed a complaint with the Federal Election Commission late Wednesday alleging that U.S. Sen. Raphael Warnock violated campaign finance laws by using political contributions to defend himself against a lawsuit stemming from his work as a pastor.

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