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Ukrainian girls’ team finds hockey haven at Wickenheiser festival
VICTORIA — British Columbia Premier David Eby says 25-per-cent U.S. tariffs on Canadian goods would be "devastating" for the province's lumber and forestry industries. He made the comment ahead of a meeting with fellow first ministers and Prime Minister Justin Trudeau. Eby was scheduled to participate in the virtual meeting on Wednesday to discuss U.S. president-elect Donald Trump's threat to impose the tariffs unless Canada and Mexico stop illegal border crossings and prevent illicit drugs from entering the United States. Eby said the lumber and forestry sectors are already strained by a recent increase in duties amid the ongoing U.S.-Canada dispute over softwood lumber. He said after the first meeting of his new cabinet in Victoria that the tariffs are "unjustified," and they would hurt Americans as much as they would Canadians. The premier said B.C. is a source of natural gas, wood products, minerals and other products that U.S. businesses depend on, and the tariff would hinder jobs and opportunities in the province while making "life more expensive for Americans." Eby and Ottawa have called for a united front dealing with Trump's tariff plan, which he announced on social media on Monday. Eby said B.C. officials had repeatedly raised concerns with Ottawa over organized crime and illicit drugs, such as fentanyl, in relation to border security. "It's a priority for us. It has been for a while, we've written to Ottawa about it. Doesn't justify the tariffs, but it does mean that we can talk about those issues as well." Eby said Trump's proposed tariff "doesn't make economic sense," and the measure is not necessary to address issues at the border. The premier said he believes B.C. has a strong case to make for the tariff being "badly placed" if Trump's priority is to reduce costs for Americans. "I think the premiers are unified," Eby said. "There are 13 of us plus the prime minister. It's a big group of people with different political perspectives, but on this issue of ensuring that we're protecting the people in our country from these unjustified tariffs, I believe we're completely in line on that question." This report by The Canadian Press was first published Nov. 27, 2024. The Canadian Press
BlackRock upgraded its "Overweight" call on US stocks for 2025, citing the potential benefits of AI. Potential tax cuts and regulatory easing under the incoming Trump administration may also boost economic growth. BlackRock's outlook contrasts with Bank of America's recent recommendation to bet on international stocks. The world's largest asset manager says it's not too late to turn bullish on US stocks heading into 2025. In its outlook for the new year, BlackRock upgraded its "Overweight" rating on US stocks, turning even more bullish than its prior recommendation even as the S&P 500 trades at all-time highs. The firm was previously "+1" overweight relative to "Neutral" and is now "+2" overweight, with its highest overweight rating being "+3." BlackRock's recommendation to stay "pro-risk" toward US stocks is the opposite of Bank of America strategist Michael Hartnett, who recommended this week that investors should bet on international stocks in 2025 due to the fear that America's exceptionalism trade is about to end. But BlackRock isn't buying it. "U.S. equities have persistently outpaced their global peers," BlackRock's Investment Institute wrote in their 2025 outlook. "We think that could continue." The driving force behind BlackRock's doubling down on the US stock market rally to continue is the belief that "mega forces" like artificial intelligence are disproportionately set to benefit American companies. "We think the AI mega force will benefit U.S. stocks more and that's why we stay overweight, particularly relative to international peers such as European stocks," BlackRock said. The firm also believes potential tax cuts and an easing regulatory environment under the incoming Donald Trump administration should support continued economic growth. One top concern for US stock market investors has been valuations, which, based on metrics like price-to-earnings ratios, are hitting historical extremes. However, BlackRock dismissed the valuation concern by highlighting that the US economy looks a lot different than it did in the past, as technology and services take center stage at the expense of manufacturing. "The equity market's changing sectoral composition reflects the transformation taking hold. So, comparing today's index to that of the past is like comparing apples to oranges," BlackRock said. Valuation measures have also proven to be a poor timing tool for getting in or out of the stock market, the firm said. "We are risk-on for now but stay nimble." The firm said factors that could force it to change its bullish tune include a significant surge in long-term bond yields or an escalation in trade protectionism.
Ukrainian girls’ team finds hockey haven at Wickenheiser festivalNEW YORK (AP) — Sean “Diddy” Combs was denied bail on Wednesday as he awaits a May sex trafficking trial by a judge who cited evidence showing him to be a serious risk of witness tampering and proof that he has violated regulations in jail. U.S. District Judge Arun Subramanian made the decision in a written ruling following a bail hearing last week, when lawyers for the hip-hop mogul argued that a $50 million bail package they proposed would be sufficient to ensure Combs doesn’t flee and doesn’t try to intimidate prospective trial witnesses. Two other judges previously had been persuaded by prosecutors’ arguments that the Bad Boy Records founder was a danger to the community if he is not behind bars. Lawyers did not immediately respond to messages seeking comment on the decision. Combs, 55, has pleaded not guilty to for years, aided by associates and employees. An indictment alleges that he silenced victims through blackmail and violence, including kidnapping, arson and physical beatings. A federal appeals court judge last month denied Combs’ immediate release while a three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan considers his bail request. Prosecutors have insisted that no bail conditions would be sufficient to protect the public and prevent the “I’ll Be Missing You” singer from fleeing. They say that even in a federal lockup in Brooklyn, Combs has orchestrated social media campaigns designed to influence prospective jurors and tried to publicly leak materials he thinks can help his case. They say he also has contacted potential witnesses through third parties. Lawyers for Combs say any alleged sexual abuse described in the indictment occurred during consensual relations between adults and that new evidence refutes allegations that Combs used his to induce into drugged-up, elaborately produced sexual performances with male sex workers known as “Freak Offs.” Larry Neumeister, The Associated Press
Steve M. Klein, Chairman and CEO of Northfield Bank, Elected to the Board of Directors of the Federal Home Loan Bank of New York
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