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Fewer Americans apply for jobless benefits, labor market still showing strength

Published Fri, 28 Feb 2025 04:02:29 GMT

Fewer Americans applied for jobless benefits last week after a previous spike that some took as a sign that higher interest rates were finally cooling the labor market.Applications for jobless claims for the week ending May 6 fell by 22,000 to 242,000, from 264,000 the week before, the Labor Department reported Thursday. The weekly claims numbers are broadly as representative of the number of U.S. layoffs.The four-week moving average of claims, which flattens some of the week-to-week fluctuations, ticked down by 1,000 to 244,250. Analysts have pointed to a sustained increase in the four-week averages as a sign that layoffs are accelerating, but are reluctant to predict that a spike in layoffs is imminent.Overall, 1.8 million people were collecting unemployment benefits the week that ended April 29, about 8,000 fewer than the previous week.Since the pandemic purge of millions of jobs three years ago, the U.S. economy has added jobs at a breakneck pace and Americans have enjoyed unusu...

Stock market today: Global stocks and Wall Street futures rise in anticipation of US debt deal

Published Fri, 28 Feb 2025 04:02:29 GMT

BEIJING — Wall Street pointed modestly higher before the opening bell Thursday on hopes U.S. political leaders can reach an agreement to avoid a potentially disastrous default on government debt.Futures for the benchmark S&P 500 index rose 0.2% and the Dow Jones Industrial Average rose less than 0.1%.Wall Street rallied Wednesday after President Joe Biden expressed confidence “America will not default” despite lack of agreement on Republican demands for cuts in aid to poor families in exchange for raising the amount the government can borrow.“Markets are now fully pricing an in-time resolution of the crisis,” said Clifford Bennett of ACY Securities in a report. “No one wants to sell ahead of an announcement of a deal being made.”Speaker Kevin McCarthy of the House of Representatives said Tuesday the two sides were far apart but could reach a deal by the end of the week. The U.S. government will run out of cash if they don’t agree by June 1 to increase its borrowing l...

Toronto police widen search for missing man with Down syndrome

Published Fri, 28 Feb 2025 04:02:29 GMT

Toronto police have widened their search for a 37-year-old man with Down syndrome who has been missing since last week.Police say Nathan was last seen around 7 p.m. on May 12 in the Jane Street and Sheppard Avenue West area of North York.A mobile command post that was set up earlier this week at Oakdale Community Centre has now been taken down, but investigators are still following up on tips from the public. They believe he is still somewhere in the GTA.On Tuesday, police escalated their search efforts to a level three, which is the highest. Police said they are concerned that Nathan “does not have the ability to take care of himself for this amount of time.”“For someone with that type of need, our level of concern is ramped up,” says Toronto police Duty Insp. Ryan Forde. “We are trying to actively find him and look for him in the best possible condition that we can.”Toronto police say Nathan, 37, has been missing since May 12, 2023. HANDOUT/Toronto Police S...

Saving the farm: Heartland clergy train to prevent agriculture workers’ suicides

Published Fri, 28 Feb 2025 04:02:29 GMT

LAKE BENTON, Minn. (AP) — With traces of winter’s unusually heavy snow still lingering, farmers were out dawn to dusk in early May, planting corn and soybeans across southwestern Minnesota fields many have owned for generations.The threat of losing beloved family farms is a growing worry, affecting many farmers’ mental health and raising concerns of another uptick in suicides like during the 1980s farm crisis. Much of the stress stems from being dependent on factors largely outside their control – from the increasingly unpredictable weather to growing costs of equipment to global market swings that can wipe out profits.“You’d be surprised how many people are suffering with depression. Farmers have been a group of people who keep problems to themselves,” said Bob Worth, a third-generation crop farmer near the hamlet of Lake Benton, who credits his wife with saving his life during a bout with depression in the 1980s. “The more you talk about this, the more you realize it can be fixed....

How do you rebuild a broken political party?

Published Fri, 28 Feb 2025 04:02:29 GMT

In today’s Big Story podcast, in 2018, the Ontario Liberals lost official party status after a significant defeat by the Ontario Progressive Conservatives. The Liberals were left with only eight seats and a distant third-place finish following 15 years in power. It’s not an exaggeration to say the once-proud party is in a state of disarray.Last week, Nathaniel Erskine-Smith, a federal Liberal MP from east-end Toronto, announced his candidacy for the leadership of the Ontario Liberals. He joined The Big Story to discuss his aim to revive the party through a non-partisan approach.“There’s just a huge opportunity to rebuild bridges, rebuild common ground, and to build a team–focus on those big challenges that we all face,” says Erskine-Smith.How does Erskine-Smith plan to bring the Ontario Liberals party back? Why did he choose to shift from federal to provincial politics? Additionally, why do many Liberals underestimate Doug Ford, and what vision does Erskine-Smith have fo...

Lightspeed Commerce reports US$74.5M Q4 loss, revenue up 26% from year ago

Published Fri, 28 Feb 2025 04:02:29 GMT

MONTREAL — Lightspeed Commerce Inc. reported a loss of US$74.5 million in its fourth quarter compared with a loss of $114.5 million in the same quarter a year earlier as its revenue rose 26 per cent.The e-commerce company, which keeps its books in U.S. dollars, says the loss amounted to 49 cents per diluted share for the quarter ended March 31 compared with a loss of 77 cents per diluted share a year earlier.Revenue in the final quarter of the company’s 2023 financial year totalled US$184.2 million, up from US$146.6 million last year.The increase came as subscription revenue increased to US$76.2 million compared with US$70.5 million a year earlier, while transaction-based revenue totalled US$99.6 million, up from US$66.7 million.On an adjusted basis, Lightspeed says its loss amounted to zero cents per diluted share in its latest quarter compared with an adjusted loss of 15 cents per diluted share a year earlier.Analysts on average had expected an adjusted loss of three cents p...

Man shot after road rage incident on DuSable Lake Shore Drive

Published Fri, 28 Feb 2025 04:02:29 GMT

CHICAGO — A road rage incident led to a shooting on DuSable Lake Shore Drive.Officers responded to a person shot in the 6600 block of South DuSable Lake Shore Drive around 2:17 a.m. Thursday.According to police, a 25-year-old man and 44-year-old man got into a verbal altercation following a minor traffic accident. The 44-year-old pulled out a gun, the 25-year-old reached for it and a struggle ensued. Man fatally shot outside violence prevention center on South Side The gun discharged, hitting the 44-year-old twice — in the hand and buttocks. He was placed into custody and transported to the University of Chicago Medical Center in fair condition.Area One detectives are investigating.

Multiple armed robberies reported within hour on Northwest Side

Published Fri, 28 Feb 2025 04:02:29 GMT

CHICAGO — Police are searching for multiple individuals involved in armed robberies that took place 20 minutes apart in Logan Square Thursday morning. Police reported that a man was standing outside near the 2400 block of West Cortland Avenue around 4:35 a.m. when three men exited a blue sedan, battered the man and took his belongings. The men then fled in the sedan southbound. The man sustained lacerations and was transported to Saint Mary's Hospital in fair condition. No weapons were observed. Man shot after road rage incident on DuSable Lake Shore Drive Later, around 4:50 a.m. police reported that a 63-year-old man was outside near the 3200 block of West Fullerton when four people inside a red sedan approached, demanding money and displaying firearms. The man gave his personal property and the men fled eastbound. The man was not injured. According to police, a 29-year-old woman was walking near the 2200 block of North California Avene around 4:55 a.m. when a blue sedan approach...

WWE Hall of Famer Billy Graham dies at 79

Published Fri, 28 Feb 2025 04:02:29 GMT

(WKBN) -- A former WWE world champion and pro wrestling legend has died. WWE Hall of Famer Superstar Billy Graham has died at the age of 79. The WWE announced the news on their website. Graham’s real name was Eldridge Wayne Coleman. According to CBS News, his wife, Valerie, revealed that she refused to take him off of life support. He was battling kidney, heart and lung problems before his death. The Weeknd goes by Abel Tesfaye after announcing he wants to ‘kill The Weeknd’ Graham had a flamboyant interview style and colorful ring attire. His career in the 1970s helped influence future superstars like Hulk Hogan and Ric Flair. On April 30, 1977, Graham defeated Pittsburgh fan favorite Bruno Sammartino to win the WWE Championship (the title was previously called the WWWF Heavyweight Championship or World Wide Wrestling Federation Heavyweight Championship). Graham later became a commentator and on-screen manager on WWE television. Graham was inducted into the ...

American Lung Association provides free lung screenings

Published Fri, 28 Feb 2025 04:02:29 GMT

Jayne Killea, division manager of American Lung Association, joins WGN Weekend Morning News to talk about free lung screenings provided by the American Lung Association.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.