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CIBC reports $1.43B Q3 profit, down from $1.67B a year ago

Published Fri, 07 Feb 2025 17:23:06 GMT

TORONTO — CIBC reported its third-quarter profit fell more than 10 per cent compared with a year ago as the amount it set aside for bad loans in the quarter tripled.The bank says it earned $1.43 billion or $1.47 per diluted share for the quarter ended July 31, down from a profit of $1.67 billion or $1.78 per diluted share a year ago.Revenue totalled $5.85 billion, up from $5.57 billion in the same quarter last year.CIBC says its provision for credit losses in the quarter amounted to $736 million, up from $243 million in its third quarter last year.On an adjusted basis, CIBC says it earned $1.52 per diluted share in its most recent quarter, down from an adjusted profit of $1.85 per diluted share a year earlier.Analysts on average had expected an adjusted profit of $1.68 per share, according to estimates compiled by financial markets data firm Refinitiv.This report by The Canadian Press was first published Aug. 31, 2023.Companies in this story: (TSX:CM)The Canadian Press

Germany-born pandas celebrate their 4th birthday ahead of expected trip to China

Published Fri, 07 Feb 2025 17:23:06 GMT

BERLIN (AP) — The first giant pandas born in Germany celebrated their fourth birthday Thursday as the Berlin Zoo prepares to send them to China, a journey that was delayed by the COVID-19 pandemic.Pit and Paule, who also are known by the Chinese names Meng Xiang und Meng Yuan, have been a star attraction at the zoo since their birth in 2019. On Thursday, keepers presented them with an ice cake made with apples, carrots and beetroot, and a side serving of snow.While China for decades gifted friendly nations with its unofficial mascot as part of a policy of “panda diplomacy,″ the country now loans pandas to zoos on commercial terms. Pit and Paule’s parents, Jiao Qing and Meng Meng, arrived in Berlin in 2017.Florian Sicks, the zoo’s curator for mammals, said the young pandas belong to China and its Chengdu Panda Base, and officials hope the pair will travel there soon.“As a rule, this happens at age 2 or 3,” Sicks said. “Because of the pandemic, it was delayed a bit so that...

An airstrike on southern Syria hits an alleged drug factory, causing damage but no casualties

Published Fri, 07 Feb 2025 17:23:06 GMT

BEIRUT (AP) — An airstrike early Thursday hit an alleged drug factory in southern Syria near the Jordanian border, causing damage but there was not word on casualties, Syrian opposition activists said. They said the attack was believed to have been carried out by Jordan’s air force.Jordan’s state media reported over the past weeks that several drones carrying drugs were shot down after crossing from Syria.The Captagon industry has been a huge concern for Jordan, as well as Saudi Arabia and other Gulf states, as hundreds of millions of pills have been smuggled over the years, where the drug is used recreationally and by people with physically demanding jobs to keep them alert.Ahmad al-Masalmeh, an opposition activist who covers developments in southern Syria said the target was also used as a narcotics warehouse where smugglers would prepare and package illegal drugs before smuggling them across the southern border into Jordan. The Syrian Observatory for Human Rights, a Britain-based...

Report says close associates of India’s Adani Group secretly purchased large numbers of shares

Published Fri, 07 Feb 2025 17:23:06 GMT

NEW DELHI (AP) — Two people closely linked to India’s Adani Group, one of the country’s largest conglomerates, secretly purchased millions of dollars of stocks in the group’s companies, possibly violating Indian law, according to a report Thursday by a network of investigative journalists.Market rules require that at least 25% of a company’s shares be available for public purchase. The report by the Organized Crime and Corruption Reporting Project said the two men used “opaque investment funds based in the island nation of Mauritius” to obscure their involvement in controlling up to nearly 14% of the public shares.The findings by the non-profit project were reported by The Guardian and The Financial Times. The project said they were based on files from multiple tax havens, bank records and internal Adani Group emails.It identified the two investors as Nasser Ali Shaban Ahli and Chang Chung-Ling, and said they have longtime business ties to the Adani fam...

Traveling Labor Day weekend? Expect lots of company

Published Fri, 07 Feb 2025 17:23:06 GMT

DALLAS (AP) — By some measures, air travelers have enjoyed a less stressful summer than last year, but canceled flights remain elevated as airlines face their last big test of the prime vacation season: Labor Day weekend.The Federal Aviation Administration predicts that this will be the third busiest holiday weekend of the year so far, behind only the Juneteenth weekend, which included Father's Day, and the Presidents Day break.Hurricane Idalia should be heading away from the Atlantic Coast as most holiday revelers hop in cars or head to the airport. Airlines canceled several dozen flights in Florida and Georgia scheduled for Thursday but very few for Friday, according to tracking service FlightAware. Tampa International Airport said it would resume normal operations including departing flights early Thursday.Travelers can check conditions where they are going on the FAA website.Thursday figures to be the busiest day in U.S. airspace, with 52,203 f...

Bastrop County animal shelter issues adoption call due to remodel, warns of euthanasia risk

Published Fri, 07 Feb 2025 17:23:06 GMT

BASTROP, Texas (KXAN) – The Bastrop County Animal Shelter said Tuesday it needs to empty one of its largest kennels by Sept. 4 for a remodel. It said 92 dogs and 52 cats are at risk of being euthanized and are available for adoption. The pets are available on the shelter's website. The shelter said if you find an animal you are interested in, please be sure to have the animal's ID number on hand before calling the shelter so they can help you find out more information on the pet.  The cost to adopt an animal is $35, according to the shelter.The Bastrop County Animal Shelter is at 589 Cool Water Drive in Bastrop. The phone number is 512-549-5160. The shelter is open for adoptions by appointment only on Wednesdays through Sundays.

Austin City Council: Fixing a broken process for new development, tourism investments

Published Fri, 07 Feb 2025 17:23:06 GMT

AUSTIN (KXAN) -- Austin City Council has a lengthy agenda Thursday, the first meeting back after finishing its budget approval process. Here's some of what we're watching: Austin Tourism Public Improvement District Council members are expected to vote on draft language from city staff to move forward with its proposed Austin Tourism Public Improvement District (ATPID) which has been in the works for years. Council could sign off on creating the district itself later this year. The creation of that PID would generate money largely used to incentivize and attract new events and bring additional tourism to Austin alongside retaining existing events. That would include safety and homelessness improvements. RELATED: What’s happening with the Austin Convention Center? It would mostly be visitors who foot the bill. Hotels within Austin city limits that have 100 rooms or more would be taxed 2% of gross room revenue, "which reflects the special benefits accruing to the hotel properties be...

Increasing humidity into Labor Day weekend

Published Fri, 07 Feb 2025 17:23:06 GMT

AUSTIN (KXAN) -- Hot temperatures, plenty of sunshine and a relatively stagnant weather pattern will result in elevated ground-level ozone today. An Air Quality Alert is in effect for the I-35 corridor, Bastrop and Caldwell County, put everyone can do their part to reduce their emission footprint.Ozone Action Day ThursdayAfternoon highs will return to the upper 90s and low 100s today, Austin's forecast high of 102° putting us tied with 1925 for the 2nd most triple digit days on record.Triple digit daysWe are tracking a slight chance of sea breeze showers and thunderstorms, mainly east of Austin, returning early next week. Most areas currently look to remain dry. BLOG: Could PDO mess with our wet El Niño? Tracking the TropicsHurricane Idalia made landfall Wednesday morning as a high-end category 3 storm along Florida's Big Bend. Idalia came onshore near Keaton Beach, Florida with winds of 125 mph. The quick movement of Idalia (~20mph) means the now-weaker tropical storm is racing t...

98.3 TRY Social Dilemma: Do I Have to Bring a Gift to My Friend's THIRD Wedding?

Published Fri, 07 Feb 2025 17:23:06 GMT

ALBANY, N.Y. (NEWS10) -- Today's 98.3 TRY Social Dilemma came from Thomas and it's about weddings. Here's his email: Get the latest news, weather, sports and more delivered right to your inbox! Hi Jaime. I have a friend who is about to be married for his third time. The first two weddings were huge affairs, and I brought a gift that was appropriate to both of them. Now we're on number three. And once again, it's a big wedding. I'm willing to go but I don't want to have to give a gift. I think it's ridiculous to keep asking people for gifts if you're going to keep getting married. I'm not judging the number of times he's been married, just the fact that he keeps asking the people who love him to give him stuff. I think it's tacky to have a big third wedding and even tackier to expect gifts for it. What do you think? Should I go and bring something, or can I just go and celebrate with them empty handed? Thanks.ThomasWell, I think if Thomas is going to go to the wedding, he has to br...

Newburgh man pleads guilty to stalking ex-girlfriend

Published Fri, 07 Feb 2025 17:23:06 GMT

NEWBURGH, N.Y. (NEWS10) -- A Newburgh man pleaded guilty to stalking after sending his ex-girlfriend several threatening texts and later physically attacking her. According to the Ulster County District Attorney's Office (UCDA), Raymond Brown Jr., 50, will face three to seven years in prison when sentenced. Get the latest news, weather, sports and more delivered right to your inbox! According to the UCDA, Brown sent his former girlfriend several threatening text messages and followed through on his threats when he physically attacked her. After his arrest, Brown repeatedly called her from the Ulster County Jail to prevent her from cooperating with the prosecution of the case. He will be sentenced on November 9.Brown pleaded guilty to first-degree stalking and second-degree criminal contempt.“The Ulster County District Attorney’s Office is committed to aggressively prosecuting crimes of Domestic Violence," said Assistant District Attorney Nicholas LaStella, the lead prosecutor in ...