LONDON (AP) — U.K. Prime Minister Rishi Sunak on Wednesday proposed raising the legal age that people in England can buy cigarettes by one year, every year until it is eventually illegal for the whole population and smoking will hopefully be phased out among young people. Setting out his plan at the annual Conservative Party conference, Sunak said he wanted to “stop teenagers taking up cigarettes in the first place." It is currently illegal for anyone to sell cigarettes or tobacco products to pe
Federal Reserve Chair Jerome Powell two years ago asked the U.S. central bank's internal watchdog to investigate the trading activities of some of its senior officials, including Powell. Sept. 7, 2021: The Wall Street Journal reports that the presidents of the Dallas and Boston Fed banks actively traded in financial markets while helping set monetary policy. Fed ethics officials signed off on the trading, which was done most actively by Dallas Fed President Robert Kaplan, based on an ethics code then in place which called on policymakers to avoid investments that would suggest conflicts of interest.
Two years after the presidents of the Dallas and Boston Federal Reserve banks left their jobs amid revelations they had traded on financial markets while helping to set monetary policy, an internal watchdog has yet to finish a probe into a scandal that has clouded the U.S. central bank's reputation. On Oct. 4, 2021, Fed Chair Jerome Powell asked the central bank's Inspector General (IG) to look into the controversy that erupted after it was disclosed that Boston Fed President Eric Rosengren had traded real-estate securities and Dallas Fed President Robert Kaplan had traded millions of dollars of individual stocks in 2020, even as the Fed undertook a rescue of the U.S. economy and financial markets with massive purchases of Treasuries and housing-backed bonds. That probe later expanded as other concerns about officials' financial activities emerged, but exactly two years later, IG Mark Bialek has not yet submitted a final report.
NEW YORK (AP) — Opening statements were set to begin Wednesday after a jury was chosen to hear the fraud trial of FTX founder Sam Bankman-Fried in New York City. Bankman-Fried, 31, maintains he was not to blame for fraud that prosecutors allege in seven charges brought against him since his arrest last December in the Bahamas. They say the California man defrauded thousands of investors and customers in his businesses of billions of dollars by siphoning off their money for his own uses, includin
Representatives of Telecom Italia's top investor Vivendi will tell Italy's Economy Minister they remain sceptical about a government-sponsored plan to sell the telecoms firm's grid, sources familiar with the matter said. Telecom Italia (TIM) has entered into exclusive talks with KKR to sell NetCo, a venture comprising the group's domestic fixed access network and submarine cable unit Sparkle. A deal with KKR, which values NetCo at around 23 billion euros ($24.2 billion) when including debt and some variable items, is a key plank of TIM CEO Pietro Labriola's strategy to revamp the heavily indebted former national monopoly.
If you think someone you love may be considering suicide, a workshop coming to Peace River, AB, this week may help you with some insight on how to provide some help to them. Close Connections Suicide Prevention Training will be offered at the Peace River Municipal Library on October 6. Alberta Health Services mental health promotion facilitator Trevor Lusby says the workshop will help provide training on various topics. “This is an in-person program for adults over the age of 18 and would benefi
MONTREAL — Quebec provincial police say they have arrested 10 people in connection with an alleged grandparent fraud scheme linked to organized crime. Sgt. Catherine Bernard says officers are still looking for another three suspects as part of an operation today targeting the alleged fraud network operating in the greater Montreal area. Grandparent scams generally target seniors and see fraudsters pretend to be grandchildren who need money to deal with an emergency. Bernard says the victims were
TORONTO — Greater Toronto home sales slid 7.1 per cent last month compared with September 2022, with sales of semi-detached houses and townhouses particularly declining from last year. Last month's 4,642 home sales also marked a 12.1 per cent month-over-month decline from August, according the Toronto Regional Real Estate Board's latest market watch report. Meanwhile, the average home price reached $1,119,428, a rise of 3.4 per cent from August and a three per cent increase from last September.