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Sweden’s economy shrinks in the third quarter to signal that a recession may have hit the country

Published Sat, 22 Feb 2025 11:00:26 GMT

STOCKHOLM (AP) — Sweden’s economy shrank in the third quarter of 2023 to mark the second time of contraction and signal that a recession may have hit the country.Data released Wednesday by Statistics Sweden showed that the country’s gross domestic product declined by 0.3% in the period ending in October.“The GDP decreased for the second quarter in a row. The downturn in the economy was broad, but was held back somewhat by strong service exports,” said Jessica Engdahl, section manager at the National Accounts with the statistical agency.The decline is mainly explained by inventory liquidation and lower household consumption. Engdahl added that household consumption expenditure had decreased for the fifth consective quarter.Compared to the third quarter of 2022, GDP decreased by 1.4%.Two consecutive quarters of contraction is a common definition of recession, though economists on the eurozone business cycle dating committee use a broader set of data, including employment f...

In the news today: Canadian housing, health-care woes fuelled by higher immigration?

Published Sat, 22 Feb 2025 11:00:26 GMT

Here is a roundup of stories from The Canadian Press designed to bring you up to speed on what you need to know today…Canadians link immigrants and housing crisis: pollA large majority of Canadians agree that higher immigration is fuelling the housing crisis and putting pressure on the health-care system, a new Leger poll suggests.New federal voting intention numbers from the polling firm also show that the Conservatives are maintaining their sizable lead over the governing Liberals. The polling, conducted from Friday to Sunday, found that about three-quarters of respondents agreed the increase in immigrants is adding strain to both the housing market and health-care system. Nearly two-thirds of respondents, or 63 per cent, said the volume of newcomers is also adding pressure to the country’s education systems. But the poll shows that Canadians see some benefits to higher immigration, too.Convoy trial hears conspiracy argumentsThe lawyers in the criminal trial of two ...

Three in four Canadians say higher immigration is worsening housing crisis: poll

Published Sat, 22 Feb 2025 11:00:26 GMT

OTTAWA — A large majority of Canadians agree that higher immigration is fuelling the housing crisis and putting pressure on the health-care system, a new Leger poll suggests.New federal voting intention numbers from the polling firm also show that the Conservatives are maintaining their sizable lead over the governing Liberals. The polling, conducted from Friday to Sunday, found that about three-quarters of respondents agreed the increase in immigrants is adding strain to both the housing market and health-care system. Nearly two-thirds of respondents, or 63 per cent, said the volume of newcomers is also adding pressure to the country’s education systems. But the poll shows that Canadians see some benefits to higher immigration, too. About three-quarters of respondents agreed that higher immigration contributes to the cultural diversity of the country, and 63 per cent said the arrival of young immigrants contributes to the workforce and tax base, which supports older generatio...

Lawyers spar over conspiracy allegation in ‘Freedom Convoy’ organizers’ trial

Published Sat, 22 Feb 2025 11:00:26 GMT

OTTAWA — The lawyers in the criminal trial of two “Freedom Convoy” organizers are expected to continue their debate today over whether Tamara Lich and Chris Barber were co-conspirators in the protest. Both are charged with mischief and intimidation, among other charges, for their role in the early 2022 protests against COVID-19 public-health restrictions.The Crown intends to prove that the two conspired together so closely that evidence against one should also apply to the other.The defence has already spent two days arguing to the contrary.Defence lawyers say the actions of the protest organizers weren’t inherently illegal, and there is no evidence linking them to anyone else’s illegal actions. The defence is expected to finish making its case on the conspiracy allegation before the Crown presents its own argument.This report by The Canadian Press was first published Nov. 29, 2023.The Canadian Press

Toyota selling part of Denso stake to raise cash to develop electric vehicles

Published Sat, 22 Feb 2025 11:00:26 GMT

TOKYO (AP) — Toyota is selling a part of its stake in components maker Denso to raise cash for its drive toward electric vehicles and other innovations, Japan’s top automaker said Wednesday. The move is estimated to raise about 290 billion yen ($2 billion), given recent share prices. The number of shares Toyota Motor Corp. plans to sell total more than 124 million shares, lowering its stake in Denso Corp. from 24.2% to 20%, while remaining the top stakeholder.“We don’t want to just hold on to our assets. We want to make them living assets that feed into the growth of our company,” said Masahiro Yamamoto, an executive in the accounting group at Toyota.Denso shares closed at 2,298 yen ($16) Wednesday.Toyota said the money will also go into developing smart-driving technology and a wide range of other initiatives ongoing in the industry.Yamamoto did not give a specific date for the sale, but it’s expected to happen soon. All the world’s major automakers are working on strengtheni...

Stock market today: Global shares trade mixed after Wall Street rallies

Published Sat, 22 Feb 2025 11:00:26 GMT

TOKYO (AP) — Global shares were trading mixed Wednesday although a strong report on U.S. consumer confidence and hopes the Federal Reserve is finished with its aggressive interest rate hikes sent shares higher on Wall Street. France’s CAC 40 edged up 0.1% in early trading to 7,260.05, while Germany’s DAX added nearly 0.4% at 16,051.04. Britain’s FTSE 100 lost 0.3% to 7,432.30. U.S. shares were set to drift higher with Dow futures up 0.3% at 35,539.00. S&P 500 futures rose 0.3% to 4,574.75. Japan’s benchmark Nikkei 225 declined 0.3% to finish at 33,321.22. Australia’s S&P/ASX 200 gained 0.3% to 7,035.30. South Korea’s Kospi shed nearly 0.1% to 2,519.81. Hong Kong’s Hang Seng dropped 2.1% to 16,993.44, while the Shanghai Composite fell 0.6% to 3,021.69. Heavy selling of Chinese technology and property shares pulled benchmarks lower. Food delivery company Meituan’s Hong Kong-traded shares dropped 11% after it forecast its revenue ...

Daily horoscope for November 29, 2023

Published Sat, 22 Feb 2025 11:00:26 GMT

Moon Alert: After 2 a.m. EST today, there are no restrictions to shopping or important decisions. The Moon is in Cancer.Happy Birthday for Wednesday, Nov. 29, 2023:You are courageous about challenging the status quo. You have an aura of excitement and energy about you that people can feel. This is a slower paced year. It’s OK to rest. Take time to rejuvenate your energy. Focus on business and personal relationships that benefit you.ARIES(March 21-April 19)★★★★This is an excellent day for important family discussions, especially with a female family member. It’s also an excellent day to explore real estate opportunities or ways to expand where you live through renovations, redecorating projects or relocating. Tonight: Relax.TAURUS(April 20-May 20)★★★★Today you have a lovely balance of optimism and realism, which is why this will be an effective day for you. Your optimism will allow you to see opportunities and act on them. Meanwhile, your strong sense of reality will keep...

Positive preliminary assessment of Slovenia's request for €541 million disbursement under the Recovery and Resilience Facility

Published Sat, 22 Feb 2025 11:00:26 GMT

The Commission has endorsed a positive preliminary assessment of Slovenia's payment request for €231 million in grants and €310 million in loans under the Recovery and Resilience Facility (RRF). This is Slovenia's second payment request under the RRF. With their request, the Slovenian authorities provided detailed and comprehensive evidence demonstrating the satisfactory fulfilment of 41 milestones and three targets.On 15 September 2023, Slovenia submitted to the Commission a payment request based on the achievement of the 41 milestones and three targets set out in the Council Implementing Decision. These cover a set of transformative reforms related to flood management, energy efficiency, green and digital transition and education.The Slovenian national recovery and resilience plan includes a wide range of investments and reforms in17 thematic components. The plan will be supported by €1.61 billion in grants, and €1.07bn in loans. To date, Slovenia has received €231 million in pre-...

What is the reason for tensions in US-Azerbaijan relations?

Published Sat, 22 Feb 2025 11:00:26 GMT

After the dissolution of the Soviet Union, the U.S. began to implement a consistent approach and strategy toward the South Caucasus countries. Such a strategy includes strengthening its geopolitical interest and facing up to any challenges from regional powers. To this end, the Republic of Azerbaijan played an important role in shaping of regional economic integration thanks to its geographical position and the availability of energy resources. It is not surprising that Zbigniew Brzezinski, who was U.S. National Security Adviser from 1977 to 1981, called Azerbaijan a “geopolitical pivot” which is very important for the U.S.’s security interest.It should be noted that the Second Garabagh War has changed the whole geopolitical landscape in the South Caucasus. Azerbaijan ended the long-lasting Armenian occupation, which opened up new opportunities for sustainable peace and full regional economic integration. However, despite positive signals from Baku, Yerevan continued to support ille...

Harriette Cole: My two roommates are moving out, and I don’t believe their excuse

Published Sat, 22 Feb 2025 11:00:26 GMT

DEAR HARRIETTE: I am a sophomore in college, and I have two roommates. We live together in a dorm and have had our disagreements, but we have gotten over them.Related ArticlesAdvice | Harriette Cole: My old friend is back in my life, and she has brought a lot of drama Advice | Harriette Cole: I’m on the brink of unloading on my husband about the car crash Advice | Harriette Cole: I can no longer be silent about this messed-up family Advice | Harriette Cole: She’s the restaurant patron from hell, and she needs to hear that Advice | Harriette Cole: How to reboot when Thanksgiving stress sets in They recently told me that they are going to move out together, which caught me off-guard, and I’m left feeling surprised and somewhat abandoned.It feels so weird to me that they wouldn’t tell me anything before now. I asked them why and they told me that they wanted to move to a dorm closer ...