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« Superministre » de la CAQ | Pierre Fitzgibbon démissionne

(Rimouski) Poids lourd du gouvernement caquiste, le « superministre » de l’Économie et de l’Énergie, Pierre Fitzgibbon, démissionne au beau milieu de son mandat, à la veille de la rentrée de l’Assemblée nationale. Il voulait quitter la vie politique en décembre prochain, mais François Legault lui a demandé de ne pas attendre et de partir dès maintenant.



Le premier ministre n’annoncera pas un remaniement complet de son cupboard ce mercredi. Le retour en Chambre, la semaine prochaine, est si imminent qu’il serait bien hasardeux de changer l’équipe en profondeur. En coulisses, on évoque une opération plutôt modeste, un « ajustement ministériel » qui, en règle générale, implique de déplacer certains ministres et de ne pas recruter de nouveaux membres parmi le caucus. Un remaniement ministériel de plus grande ampleur pourrait toujours avoir lieu à la fin de l’année ou au début de 2025.

La démission de Pierre Fitzgibbon survient alors que les députés caquistes se réunissent en caucus ce mercredi et jeudi à Rimouski afin de préparer la session parlementaire. François Legault s’est fait avare de commentaires à son arrivée à l’hôtel de ville pour rencontrer le maire Man Caron, mardi. « On a un souper qui était prévu depuis longtemps avec tous les députés ce soir. Pierre Fitzgibbon va d’abord parler aux députés, et je vais vous rencontrer demain matin avec Pierre Fitzgibbon pour vous donner tous les détails », s’est-il contenté de dire.

À son arrivée à Rimouski, Pierre Fitzgibbon s’est refusé à tout commentaire sur son départ. « On se parle demain matin, je vais être là sans faute, et je vais répondre à toutes vos questions », a-t-il affirmé avant de tourner les talons.

PHOTO JACQUES BOISSINOT, ARCHIVES LA PRESSE CANADIENNE

Pierre Fitzgibbon et François Legault

Le départ de Pierre Fitzgibbon s’est réglé au cours des derniers jours. Lors d’un entretien la semaine dernière, il a annoncé à M. Legault qu’il voulait quitter toutes ses fonctions après la session parlementaire, en décembre. Le premier ministre, qui aurait évidemment souhaité que son ministre termine son mandat, considérait qu’un départ en décembre était tardif ; le sujet de l’avenir politique de son ministre risquait de devenir une supply de distraction pour son gouvernement cet automne. Les deux hommes se sont donné quelques jours de réflexion.

Lundi, M. Legault lui a demandé de ne pas attendre et de démissionner tout de suite, ce qu’a accepté M. Fitzgibbon.

Un cercle restreint de personnes était au courant de ce dénouement, qui a fait l’objet d’une fuite dans La Presse. M. Fitzgibbon a informé les membres du Conseil des ministres de sa démission mardi. Selon ce qui était prévu au départ, il devait annoncer sa démission à ses collègues députés à Rimouski, puis organiser une conférence de presse ce mercredi matin. Le démissionnaire a décliné notre demande d’entrevue.

Des députés surpris

À leur arrivée à Rimouski, les députés caquistes ont fui les journalistes pour la plupart. On ne s’attendait pas à un départ aussi rapide.

« Je suis shock, malgré tout ce qu’on entendait. On espérait que ce soit un peu plus loin, mais c’est sa décision, et moi, je respecte ça. Il a fait un travail extraordinaire », a affirmé la ministre déléguée à la Santé et responsable des Aînés, Sonia Bélanger.

« J’étais un peu surpris, a commenté son collègue de la Santé, Christian Dubé. C’est sûr que c’est quelqu’un qui a contribué énormément à notre gouvernement au cours des dernières années. »

PHOTO FRANÇOIS ROY, ARCHIVES LA PRESSE

Christian Dubé, ministre de la Santé

La ministre des Relations internationales et de la Francophonie, Martine Biron, n’a pas caché son malaise. Qu’un politicien démissionne avant la fin de son mandat, « ce n’est jamais plaisant », a-t-elle lâché à la toute fin d’une mêlée de presse. Elle relevait plus tôt que « c’est uncommon qu’on voie ça en politique, quelqu’un qui a un bagage comme celui [de Pierre Fitzgibbon], aussi fort, de haut niveau ». « Il n’avait pas peur de foncer », « il a fait ça à sa manière » et « il a profondément changé la façon de faire du développement économique au Québec », selon elle.

D’autres ont rendu brièvement hommage à M. Fitzgibbon, tout en reconnaissant l’significance de ce départ pour le parti.

« C’est un grand homme, Fitz. Ça me fait de la peine de perdre un grand homme », a laissé tomber le président du caucus caquiste, François Jacques.

« Son franc-parler, son ouverture et son accessibilité » étaient appréciés, a témoigné le ministre responsable des Relations avec les Premières Nations et les Inuit, Ian Lafrenière.

« C’est une grande perte », a soutenu la présidente du Conseil du trésor, Sonia LeBel.

C’était un ministre de l’Économie extraordinaire. Et il a fait des choses extraordinaires. Peut-être que les gens, le Québec, vont le réaliser plus tard avec la filière batterie.

Sonia LeBel, présidente du Conseil du trésor

La ministre des Transports, Geneviève Guilbault, a souligné le « travail considérable » que Pierre Fitzbiggon a fait pour cette filière, mais aussi « avec Hydro-Québec [et] avec Investissement Québec ».

PHOTO EDOUARD PLANTE-FRÉCHETTE, ARCHIVES LA PRESSE

Geneviève Guilbault, ministre des Transports et de la Mobilité sturdy

Le député de Rouyn-Noranda–Témiscamingue, Daniel Bernard, a décrit Pierre Fitzgibbon comme « un allié necessary », notamment « dans le file de la Fonderie Horne », dont les rejets de contaminants ont suscité la controverse. « J’ai hâte de voir qui va prendre la relève dans les dossiers qui m’intéressent », a-t-il ajouté.

« Il faut laisser la place à la relève »

Depuis des mois, Pierre Fitzgibbon refusait de s’engager à terminer son mandat. Il entretenait le flou sur le second de son départ de la vie politique. L’homme de 69 ans disait la semaine dernière qu’il préparait sa succession, automobile « on ne rajeunit pas » et « il faut laisser la place à la relève ».

François Legault était forcé régulièrement de répondre aux questions au sujet de l’avenir de son superministre. Son entourage en était agacé. Le sujet prenait de plus en plus de place dans l’espace public.

Pierre Fitzgibbon est un proche de François Legault. En plus d’être deux anciens hommes d’affaires indépendants de fortune, ce sont deux comptables qui ont étudié ensemble à HEC Montréal (promotion de 1978).

M. Legault l’avait pressenti pour être candidat en 2012, mais M. Fitzgibbon avait refusé et avait suggéré le nom d’un proche, Christian Dubé – maintenant ministre de la Santé.

« Fitz », comme on le surnomme, a fait le saut en politique en 2018, se présentant dans Terrebonne. Une élection partielle devra y être déclenchée d’ici six mois, au second où le Parti québécois est en tête dans les intentions de vote.

Le website de projections électorales Qc125 considère cette circonscription comme un achieve « possible » pour la formation de Paul St-Pierre Plamondon. Le nom de la députée bloquiste de Terrebonne, l’économiste Nathalie Sinclair-Desgagné, circule dans la région depuis un second comme candidate potentielle pour le Parti québécois.

Dès son arrivée au pouvoir, François Legault a nommé Pierre Fitzgibbon ministre de l’Économie. Ce dernier s’est décrit lui-même comme une « bibitte » en politique ; c’est un électron libre avec tout un franc-parler. Il a notamment réformé Investissement Québec, suscitant une controverse en y nommant son ami Man LeBlanc comme PDG.

Pierre Fitzgibbon a eu des accrochages avec la commissaire à l’éthique de l’Assemblée nationale. Il avait dû démissionner en 2021 après un quatrième rapport embarrassant. Il avait retrouvé son poste au retour des vacances d’été ; le purgatoire avait duré trois mois.

Pour son deuxième mandat comme premier ministre, François Legault avait décidé de donner encore plus de pouvoirs à Pierre Fitzgibbon en lui confiant l’Économie et l’Énergie. Deux dossiers majeurs ont retenu l’consideration : le développement de la filière batterie – avec le pari Northvolt, un projet qui aura jusqu’à 18 mois de retard finalement – et le lancement d’un plan pour doubler la capacité de manufacturing d’Hydro-Québec.

Pierre Fitzgibbon quitte d’ailleurs ses fonctions alors que son projet de loi sur l’énergie doit faire l’objet d’une session publique en fee parlementaire à compter de la semaine prochaine.


Lisez « Une réforme à finir »

Darlington Gives NASCAR Another Classic, Now Give the Lady Her Due

It was every thing that NASCAR is.

Sunday (Sept. 1) evening’s Southern 500 at Darlington Raceway might need been the ultimate race earlier than the playoffs, with every thing on the road that that means, however it was additionally what it has at all times been: the one each driver needs to win.

Subsequent to the Daytona 500, the Southern 500, NASCAR’s oldest race, has been the one circled on each driver’s want checklist. Successful it meant one thing greater than successful wherever else.

In the event you want proof, hearken to race winner Chase Briscoe’s radio after he crossed the end line. Briscoe, by tears, shouts to his group not that he has made the playoffs in a shocking, completely executed go, however that he had received the Southern 500.

And he received it in traditional vogue. Kyle Larson might need dominated, however Briscoe and his group performed their alternative precisely proper. When Ross Chastain gambled on older tires on a late warning, Larson was challenged on the entrance for the primary time, and Briscoe took full benefit, sweeping by each Larson and Chastain to take the lead. He held on by another restart, dispatching Larson.

However then got here Kyle Busch. Busch, hungry, bored with falling quick, roared from eighth to second after which set out after Briscoe. He received shut a few instances. Briscoe received free a few instances, however regardless of Busch, one of many best drivers of his technology, couldn’t fairly get shut sufficient to make a transfer. The evening was Briscoe’s.

Maybe it wasn’t on the extent of the door-to-door, knockdown drag-out race to the end that Ricky Craven and Kurt Busch placed on in Darlington’s spring race in 2003, nor was it the 14-lap drubbing that Ned Jarrett placed on the sector within the 1965 Southern 500.

But it surely was a traditional Darlington present nonetheless. 

Nicknamed the Girl in Black and the Observe Too Robust to Tame, drivers should race Darlington first and one another second. Overlook that for a single lap and the Girl will attain out and gut-punch you. However dance with the Girl and do it proper and she is going to reward you properly. 

As a result of it was the Southern 500, the ultimate race earlier than the payoffs and it was a improbable race, Sunday’s race will go down as one to recollect for years to return.

There have been a number of nice races this yr, with finishes that ought to resonate on any fan’s scale. There have been nearer finishes…however this was Darlington, and it was particular. All of the ghosts of what NASCAR has been and nonetheless might be gathered at Darlington in droves, forcing not only a look into the game’s storied previous, but additionally into its future,

NASCAR as soon as tried to decrease Darlington, transferring the Southern 500’s conventional date to California after which Atlanta Motor Speedway. However no person, not the followers, not the drivers and crews, not the ghosts, ever let NASCAR overlook the one race that belonged on that weekend. The Southern 500.

The race is again the place it belongs on the schedule now, and he or she nonetheless makes the drivers take note of her all race lengthy. 

The race owes the Olympics a debt of gratitude as a result of the pressured two-week break allowed the Southern 500, NASCAR’s oldest custom, to set the sector for its playoffs, its new period of crowning a champion. There’s one thing poetic about that; if NASCAR has to have a playoff system (the common season got here right down to a single level on the ultimate lap of the ultimate race, so whether or not the rest is important is open to interpretation) then it’s solely proper that to make the sector, drivers should tame Darlington one final time annually.

However the very best factor about Sunday’s race was that it wasn’t simply concerning the playoffs. Briscoe’s group is closing its doorways in ten weeks. Briscoe will transfer on, however there was greater than a playoff berth at stake for the motive force who Tony Stewart handpicked to drive his personal No. 14 automobile. There was proving that there was no give up in his group or himself. There have been questions on whether or not he might be a NASCAR Cup Collection contender. It was concerning the playoffs as a result of every thing needs to be nowadays, however it was a couple of driver and his group and one thing to show.

Kyle Busch, too, had extra on the road than a title run. A two-time champion, Busch has struggled this season, usually with unhealthy luck moderately than something tangible, but additionally with a group that was a step behind the elite this yr, and his position in bringing it again to glory. Busch additionally had, and nonetheless has, a 19-year successful streak to battle for. Twenty years is a very long time to be on the high in racing. Automobiles change, tracks change and the principles change. To maintain successful regardless of that’s, in some methods, as a lot a testomony to Busch’s tenacity and expertise as his two titles. He confirmed Sunday that he received’t go down with no battle, playoffs be damned.

The race outshone the earlier week’s typical Daytona Worldwide Speedway mayhem by a county mile. The 2025 schedule is already set, however going ahead, the Southern 500, run on Labor Day weekend when summer season unofficially involves its shut, simply appears proper because the race that units the sector and determines the common season champion, the champion who nonetheless will get topped based mostly on a full season of excellence as a substitute of a stick-and-ball format that was by no means meant for racing.

Tyler Reddick completed tenth Sunday evening, not contending for the win and the common season title doesn’t get the eye it ought to, however the truth that he ran 500 miles at Darlington, one of many hardest tracks within the sport, whereas miserably sick with a abdomen bug, to win that honor by one level can be the stuff of legend, a narrative that individuals ought to be telling a decade from now. His race was as gritty and difficult a run as any driver has run.

The bonus of ending the common season with the Girl in Black is that it permits for multiple week off for the whole season. NASCAR may maintain the standard Easter break and add per week in late summer season. Groups deserve that point to reset and gird for a playoff run.

Maybe the distinction is finest summed up by the final two finishes.

Harrison Burton’s first profession win at Daytona was thrilling, with all of the crashes and mayhem that followers have come to anticipate from the speedway on the seaside. It was wild and loopy and can make the spotlight reels for some time.

However Briscoe’s Darlington grit will probably be remembered for years. It was a traditional race with technique gambles, gritty drivers, and the desire of the Girl in Black. It’ll be remembered as a result of it was every thing that NASCAR is, was, and ought to be. 

That’s what ought to arrange the making of a champion.


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U of A begins two-year transition from eClass to Canvas

The College of Alberta has determined to change its Studying Administration System (LMS) from Moodle (eClass) to Canvas following suggestions from college students, school, and workers. By fall 2025, all programs will transition to Canvas.

Canvas turned accessible to U of A college students and instructors on August 6. College students can test to see if they’ve programs on Canvas utilizing their CCID.

In fall 2023, the Workplace of the Provost introduced that the U of A can be transitioning its LMS to Canvas. This transition is supposed to “form a contemporary educating and studying expertise” and “assist the altering wants” of the college. 

The swap from eClass to Canvas additionally goals to enhance the scholar expertise as a part of the Scholar Expertise Motion Plan (SEAP). Based on Karsten Mündel, vice-provost (studying initiatives) and co-sponsor of the LMS challenge, this transition is in response to considerations raised by college students and workers about eClass. 

“There was a priority [and] questions on whether or not eClass was as much as the duty,” Mündel mentioned.

One other motive behind this transition is shifting to a vendor-supported system, Mündel mentioned. Moodle is a free, open supply software program package deal, operated by a gaggle of lecturers throughout the globe. Canvas is owned and operated by Instructure. 

“We’re actually capable of profit from all the issues that [Instructure does], all the partnerships that they’ve. [This is] finally all within the service of a greater studying surroundings for our college students,” Mündel mentioned. 

Canvas will develop into operational for all programs over a two-year interval

The rollout of Canvas will happen over a two-year interval, with three waves of implementation. 

Wave one of many rollout is scheduled for fall 2024. The choice to transition to Canvas for fall 2024 is as much as particular person colleges and instructors, Mündel mentioned. 

“On the finish of the day, it’s finally as much as particular person instructors. Relying on what they’re educating and what their program has determined. Whether or not now’s the correct time for them or not,” Mündel mentioned.

Wave two is scheduled for winter 2025. Based on Mündel, this wave will primarily concentrate on the mixing of options equivalent to on-line proctoring and polling.

Mündel mentioned the third wave will concentrate on programs that require lodging for added advanced purposes, equivalent to math and engineering programs. All colleges will transitioning to Canvas by fall 2025.

“It’s a heavy raise for instructors to study a brand new system. We’re doing all the pieces we are able to,” Mündel mentioned.

To pick out a brand new LMS, events submitted proposals. Then a variety occasion vetted these proposals, in keeping with Mündel.

As soon as the choice committee narrowed the competitors down to 2 candidates, the finalists had the chance to current to the U of A group. 

“These shows have been an necessary a part of the ultimate resolution making [process] and finally resulted in Canvas being our new LMS.”

Tiroteos consecutivos durante el feriado del Día del Trabajo deja tres heridos – Telemundo 62

Tres hombres resultaron heridos de bala en medio de incidentes oicurridos en distintas partes de Filadelfia de domingo a lunes, los primeros días de septiembre 2024.

Se informó que el suceso más reciente tuvo lugar la madrugada del lunes, feriado del Día del Trabajo, en la cuadra 4800 de North Broad Avenue a las 12:29 a.m.

Allí un joven, de 24 años sostuvo un tiro en el brazo derecho por lo que fue transportado a Albert Einstein Medical Middle e ingresado en condición estable.

Una hora antes, a eso de las 11:45 p.m. del domingo otro caballero, de 24 años, resultó herido de bala en el brazo izquierdo en la cuadra 5600 de Grasp Avenue. Fue transportado al mismo centro médico e ingresado en condición estable.

A eso de las 9:49 p.m. del domingo otro hombre, de 31 años, sostuvo balazos en la espalda en la cuadra 6100 de Algon Avenue. Como parte de esa investigación se halló otro sitio con casquillos de bala en la cuadra 6100 de Lovatt Terrace.

El herido en este caso fue llevado a Albert Einstein Medical Middle e ingresado en condición estable.

En ninguna de estas instancias se conoce el motivo del uso de la violencia armada, se han recuperado armas ni generado arrestos. Todo permanence bajo investigación.

Si tienes información adicional sobre alguno de estos casos puedes comunicarte con la línea de pistas de la Policía de Filadelfia al 215-686-TIPS (8477).

Bank of Canada expected to cut interest rate Wednesday

Economists predicting cuts at each assembly for the rest of the 12 months and into 2025

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The Financial institution of Canada is extensively anticipated to chop its coverage rate of interest by 25 foundation factors on Wednesday and there are few indications that it’ll cease there, economists say.

1 / 4-point lower this week could be the third in a row and produce the in a single day price all the way down to 4.25 per cent. Wednesday’s resolution comes because the central financial institution has signalled a extra dovish tone in current months, with economists predicting cuts at each assembly for the rest of the 12 months and into 2025.

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“I don’t suppose they’ll sign that’s the top of the highway; I believe they’ll keep openness to persevering with to do extra,” mentioned Beata Caranci, chief economist at Toronto-Dominion Financial institution. “However in typical financial institution converse, I might anticipate they’ll proceed to point they’re information dependent and watching how the information evolves.”

The patron value index hit 2.5 per cent in July, its slowest tempo in almost three years. The Financial institution of Canada has forecast inflation will return to its two per cent goal by the top of subsequent 12 months.

“The final CPI print, once we seemed purely on the variety of parts, almost 50 per cent have been rising at lower than one per cent, in order that’s fairly important,” mentioned Jimmy Jean, chief economist at The Desjardins Group. “The story about inflation and why it’s nonetheless at two and half per cent, is basically about housing and it’s largely about rents particularly.”

Jean says no quantity of financial coverage tightening can have an effect on housing, given it’s a provide and demand problem.

Following the central financial institution’s coverage price announcement in July, Financial institution of Canada Governor Tiff Macklem mentioned the central financial institution’s “stability of dangers is shifting,” that means as inflation strikes again to focus on, the financial institution is paying extra consideration to the draw back dangers to inflation and the economic system.

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“They’re on the planet of two-sided dangers once more and 6 months in the past that was not the case,” Caranci mentioned. “Six months in the past, the priority was extra one-sided, that inflation was going to stay sticky and excessive.”

Financial development in Canada got here in stronger than anticipated within the second quarter, rising at an annualized price of two.1 per cent, above the Financial institution of Canada’s forecast of 1.5 per cent. Nonetheless, momentum going into the third quarter seems to be to have slowed, in response to preliminary estimates by Statistics Canada, with GDP development flat in June and July.

The labour market has additionally turn out to be a priority: the unemployment price jumped to six.4 per cent in June and held there in July. Statistics Canada reported job vacancies have been down 25.6 per cent in June in comparison with the 12 months prior. Payroll employment additionally declined by 47,300 in June, in comparison with the month of Might.

If employment and the economic system continues to deteriorate, Jean argues a steeper price lower this fall might be a risk.

“Disappointing alerts on the labour market entrance have saved coming and have been fairly persistent,” mentioned Jean. “A brilliant-sized lower in October is in no way far-fetched for my part in Canada.”

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Nationwide Financial institution of Canada economists Taylor Schleich and Warren Beautiful are additionally not ruling out the potential for a 50-basis-point lower this fall.

“To make certain, our base case outlook doesn’t incorporate 50-basis-point strikes this 12 months and the Financial institution of Canada in all probability prefers to ease in additional ‘regular’ increments, however the skew of labour market dangers implies a bigger lower within the fall is extra possible than a pause,” they wrote in a be aware to purchasers.

Really useful from Editorial

  1. Financial institution of Canada to chop rates of interest deeper, sooner: economists

  2. David Rosenberg: Financial institution of Canada continues to be method behind the curve

  3. Economic system beats Financial institution of Canada forecast with 2.1% development

Because the financial institution’s easing cycle continues, forecasters anticipate the coverage price to fall to between 2.25 per cent and three.25 per cent by the top of subsequent 12 months.

• E mail: jgowling@postmedia.com

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Score prediction/analysis for Florida State versus Boston College

Florida State soccer is again within the pleasant confines of Doak Campbell Stadium because the Seminoles are coming off their powerful loss to Georgia Tech of their season opener in Dublin, Eire.

That is actually not the beginning that the Seminoles wished as this system was projected to win the convention within the preseason, in keeping with the Vegas oddsmakers.

Florida State shall be making an attempt to bounce again versus Boston Faculty, which the Seminoles struggled with within the fourth quarter in the course of the 2023 assembly. Florida State led by a rating of 31-10 late within the third quarter the place it completed as a 31-29 ball sport with Seminole followers sitting on the sting of their seats.

Florida State’s protection struggled to bottle up Georgia Tech’s dashing assault the place it gathered 190 dashing yards. To make issues worse, Boston Faculty quarterback Thomas Castellanos had 305 passing yards and 95 dashing yards final yr.

The offense returns playmakers resembling operating again Kye Robinchaux (780 dashing yards and eight touchdowns in 2023) and vast receiver Lewis Bond (646 receiving yards and seven touchdowns). Very like Georgia Tech, Boston Faculty desires to run the soccer the place they ranked thirteenth within the FBS in dashing yards per sport (198.8).

The Seminoles’ defensive effort can’t be a lot worse than final week as Georgia Tech may get something they wished offensively. The most important issue is: Will Florida State’s protection be capable of come up in run help?

Because it pertains to the offense, head soccer coach Mike Norvell took the blame for what transpired on Saturday’s loss. Quarterback DJ Uiagalelei didn’t do something particular within the loss the place he had 194 passing yards with zero touchdowns and nil interceptions. The offense constantly tried to determine the operating sport, however, after the primary drive, the Yellow Jackets’ protection contained it.

The ChopChat employees is prepared for his or her rating predictions to be featured. It seems to be like everybody feels just like the Seminoles shall be victorious on Labor Day Evening. I hope that this outcome generates momentum for the remainder of the 2024 season.

Taylor Devers: 34-17 FSU

Kelvin Hunt: 31-20 FSU

Leslie Johnson: 20-17 FSU

Nick Andre: 33-14 FSU

I hope the employees’s predictions are appropriate for this week. Let’s hope that Nick’s rating will come to fruition. Nonetheless, we shall be watching and cheering on our Seminoles!

FSU soccer: 5 MAJOR keys to defeating Boston Faculty Eagles. darkish. Subsequent. FSU soccer: 5 MAJOR keys to defeating Boston Faculty Eagles

The Bank of Canada is expected to cut rates again, with U.S. Fed on deck – National

The Financial institution of Canada is extensively anticipated to ship a 3rd consecutive rate of interest lower on Wednesday as inflationary forces proceed to chill on either side of the Canada-United States border.

Markets are additionally calling for the U.S. Federal Reserve to start out its personal easing cycle later this month, a transfer that economists inform World Information will assist set its Canadian counterpart up for extra fee cuts to come back.

Derek Holt, vice-president and head of capital market economics at Scotiabank, tells World Information that he expects each the Financial institution of Canada and the U.S. Fed to ship quarter-point fee cuts in September.

The Fed is ready to announce its subsequent fee resolution on Sept. 18, two weeks after the Financial institution of Canada.

Whereas the Canadian central financial institution is already 50 foundation factors into an easing cycle, its U.S. counterpart is enjoying catch-up.

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Inflation has continued cooling for Canadians amid gentle financial progress for a lot of 2024, permitting the Financial institution of Canada to start out easing its benchmark coverage fee from elevated ranges in June. However considerations that inflation may reignite within the face of a still-hot financial system south of the border had been dampened by a very downbeat July jobs report within the U.S., cementing expectations that the Fed additionally wanted to start out chopping charges quickly.

Fed chair Jerome Powell confirmed in late August that “the time has come” for a long-awaited coverage shift.




As inflation eases, Powell says ‘the time has come’ to chop rates of interest within the U.S.


How the Fed may impression the Financial institution of Canada

The remarks will need to have been reassuring for Financial institution of Canada governor Tiff Macklem, who was at Powell’s facet on the Fed’s financial coverage convention at Jackson Gap, Wyo.

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Holt says that regardless of the Canadian central financial institution embarking on a rate-cut cycle forward of the Fed, Macklem probably had a restricted runway forward of him.

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“I feel the catch for Canada is that finally we’d like the Federal Reserve to start out easing coverage itself,” he says. “In any other case, we might get to an earlier level at which the Financial institution of Canada’s easing in all probability would get stopped in its tracks.”


Macklem has maintained that he and his colleagues set financial coverage for Canada, not for the U.S., and that he’s centered on the Canadian context when making rate of interest strikes.

However the trade fee between the Canadian and U.S. {dollars} is closely influenced by the coverage charges on the respective sides of the border. An even bigger divergence between the charges may damage the loonie in contrast with the American dollar as traders search higher returns within the U.S. greenback.

If the trade fee takes an excessive amount of of successful, that might make American imports costlier for Canadian companies — a phenomenon that dangers refuelling inflation.

“I do know the governor says that he’s not so fussed concerning the foreign money … however there’s a restrict to that logic. If he had been to proceed to chop aggressively with the Consumed the sidelines, you’d get the Canadian greenback in all probability actually softening,” Holt says.

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Canada, U.S. central banks diverge on financial coverage paths


In actual fact, the CAD-USD trade fee appreciated by way of a lot of the previous month. Holt means that’s owed to each rising expectations that the Fed will be part of the Financial institution of Canada in chopping charges and to the “considerably resilient” Canadian financial system and oil costs.

Claire Fan, economist with RBC, says there’s nonetheless much more uncertainty concerning the fee path within the U.S. after September than there may be for the Financial institution of Canada.

Inflation has continued to chill in the direction of the Financial institution of Canada’s two per cent goal, final coming in at 2.5 per cent yearly in July.

Fan says the “softening financial background” additionally tells the central financial institution that inflationary dangers seem largely “contained,” giving the bandwidth wanted to proceed decreasing rates of interest with out worrying an excessive amount of that inflation will reignite.

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She notes a shift amongst central financial institution communications away from placing heightened significance on each particular person information level as confidence grows that situations are in place to revive worth stability.

Fan says the U.S. Fed must be extra cautious. There are many outlying dangers south of the border, not the least of which is the U.S. presidential election in November.

“The trail ahead for Financial institution of Canada is a extra sure one, we’re anticipating the Financial institution of Canada to go gradual, regular with easing fee cuts into the tip of 2025,” Fan says.

The place does the Financial institution of Canada’s fee path lead?

Holt says that regardless of the runway for fee cuts, he’s not satisfied the inflation dangers are utterly gone for the Financial institution of Canada.

With a federal election in Canada at present scheduled for no later than October 2025 and Prime Minister Justin Trudeau’s Liberals trailing within the polls, Holt sees a threat that the incumbent authorities hikes spending in a bid to seize votes, stoking inflation as a facet impact.

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He additionally factors to renewed provide chain considerations tied to a looming port strike within the U.S., in addition to the current rail stoppage in Canada, as potential dangers to the inflation outlook.

Regardless of a near-consensus amongst economists and market watchers that the trail for rates of interest in Canada is decrease, each Holt and Fan warn to not anticipate outsized strikes from the Financial institution of Canada, which is extensively forecast to maintain chopping charges by 1 / 4 of a share level.




July inflation decelerates as automotive costs shift into reverse: StatCan


Something bigger than that may ship the fallacious message to markets, Holt argues, that the Financial institution of Canada is trying to pace up the tempo of easing. Market bets for extra aggressive cuts would run counter to the central financial institution’s efforts to maintain borrowing prices underneath management within the easing cycle, he says.

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Holt says the message from the Financial institution of Canada has been that the rate-cut cycle received’t be as speedy because it was on the way in which up, when the central financial institution routinely delivered hikes of fifty, 75, even 100 foundation factors at occasions to tamp down decades-high ranges of inflation.

The financial system isn’t in an “emergency” state of affairs that warrants these sorts of sudden shifts, he argues.

Fan agrees. Whereas there have been indicators of slowing within the financial system and weak spot within the labour market, Canada doesn’t look like on the verge of a extreme slowdown that may require a fast pivot to stimulating financial coverage.

RBC expects the unemployment fee will rise a number of extra ticks to six.7 per cent earlier than levelling off and recovering considerably beginning in 2025 as rates of interest ease and family and enterprise spending picks again up.

“The underside actually hasn’t fallen out of the financial system to the extent that may require very steep fee cuts from the central financial institution simply but,” Fan says. “Gradual and regular is admittedly how we expect the Financial institution of Canada to be approaching this upcoming easing cycle.”

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Talking Florida State vs Boston College Football with Tomahawk Nation’s Perry Kostidakis

It’s practically time for BC’s first sport of the season. On Monday, they’ll have a shot of beating Florida State and handing the Seminoles their second lack of the 12 months. Enormous thanks to Perry Kostidakis of Tomahawk Nation for answering a number of of our questions on FSU!

Final weekend was tough for Florida State followers. Shedding abroad as a top-10 staff to an unranked convention opponent in a primetime sport is actually not the way in which you guys wished to start out 2024. What are the emotions across the fanbase like proper now?

PK: Saturday felt like a crash to earth, since FSU hadn’t misplaced a daily season sport since beating Georgia Tech again in 2022. The grieving course of has gone its common route — denial (no method that FSU simply blew a sport on a nationwide stage after this complete previous 12 months), anger (THEY ONLY HAD ONE POSSESSION IN THE FOURTH?!), bargaining (okay, so not less than if Miami or UF look terrible subsequent week, it’ll be okay), melancholy (I can’t consider I predicted 11-1), and acceptance (welp).

The purpose the fanbase is at now could be whether or not Saturday was the default or a slip-up. It’s apparent that Georgia Tech is healthier than anticipated, but it surely stays to be seen if FSU is worse than believed. Was the inefficiency on each offense and protection a results of a well-planned and well-executed Yellow Jackets method, or will or not it’s an extended 12 months for a Seminoles squad unable to make any form of affect within the trenches? Proper now, it appears like primarily column A, with a sprinkle of column B.

I perceive that there’s already been some speak amongst FSU followers about changing DJU. Do you suppose most individuals wish to see him stay the starter and do you suppose he’ll stay the starter all 12 months?

PK: I do suppose that he’s going to stay in place as QB1, barring a whole meltdown or play that truly hurts his staff. He wasn’t significantly gorgeous within the loss, however actually he didn’t do something that actively damage the staff’s possibilities at profitable — and when Norvell let the offense unfastened, they did handle to get a landing. The problem was an absence of sustained drives, introduced on by a disappointing efficiency within the run sport (an space the place FSU was purported to excel and lean on in 2024).

If you happen to had been to single out one side of the Seminoles’ sport that they do higher than anybody else, what would it not be and why?

PK: Actually, at this level, I’d should say particular groups. It sounds miserable, and it kinda is, however FSU may even have among the best kicker-punter combos in school soccer. Alex Mastromanno legitimately can win video games by flipping the sphere, and Ryan Fitzgerald has elevated himself to a clutch kicker able to hitting 50-plus yarders routinely.

Which gamers are your x-factor for the FSU-BC sport?

PK: On the Eagles’ aspect, it’s Thomas Castellanos. He was an absolute terror final 12 months and, after seeing how a lot FSU struggled in maintaining comprise in opposition to GT, he’s going to be a nightmare.

For FSU, I’m going with Pat Payton — the defensive finish was pinpointed as one of many key elements of Florida State’s protection this 12 months, however didn’t make a significant affect within the season-opener alongside his teammates within the trenches. If he’s in a position to get going and push the remainder of the road together with him, the distinction in assault will probably be large.

How would you outline a profitable season for the Seminoles after the way in which it began?

PK: Most FSU followers have tried to deal with the loss — and a possible follow-up to Boston Faculty — by pinpointing the 1989 season. After an 0-2 begin FSU ran the desk to complete 10-2, profitable the Fiesta Bowl and ending No. 3. Whereas what a staff 35 years in the past did isn’t precisely the soundest science, within the new period of the Faculty Soccer Playoff, your season isn’t over till you actually mess it up. Norvell’s groups have proven a capability to shake off disappointments and switch seasons round. Any fantasies of pummeling by the ACC with a BIG-style offense have just about faltered away, however a 10-2, 9-3 season continues to be a hit particularly if it is sufficient to push the Seminoles into the dance.

York Region Animal Centre needs volunteers for classroom program

‘We need to create a brighter future for animals, which is why it’s so necessary to indicate children how particular animals are and how you can deal with animals with respect and kindness,’ Ontario SPCA supervisor says

As the children head again to highschool, the Ontario SPCA York Area Animal Centre is recruiting volunteers to affix its crew of AnimalSmart volunteers to ship humane schooling to native lecture rooms.

The Ontario SPCA gives free AnimalSmart displays for grades 1 to eight in its animal centre communities, with the objective to foster empathy, promote duty and encourage a reference to animals. A brand new theme is launching this fall, Animals within the Neighborhood, and extra volunteers are wanted.

“Listening to the scholars’ enthusiasm after they discuss their pets, seeing their faces after they notice that animals have feelings, too, and listening to how they are often caring to animals could be very fulfilling to me,” says AnimalSmart volunteer Cory Philip, who has offered to 17 lessons, reaching over 325 college students. “It offers me hope when younger kids discuss being variety to animals as an extension of being variety to one another.”

As a registered charity, the Ontario SPCA depends upon the assist of volunteers to make applications like AnimalSmart doable. Volunteers do not have to be academics or have a background in schooling; they’ll obtain one-on-one teaching, in addition to in-classroom mentoring with an skilled educator.

“We need to create a brighter future for animals, which is why it’s so necessary to indicate children how particular animals are and how you can deal with animals with respect and kindness,” says Nina Alexander, humane schooling supervisor, Ontario SPCA and Humane Society. “The Ontario SPCA’s AnimalSmart™ program is a enjoyable and interesting approach to get children fascinated with animals and what they have to be glad and wholesome.”

For those who’re obsessed with animals, need to make a distinction in your group and revel in working with and provoking kids, click on right here to study extra about changing into a volunteer.

 

Alvin Kamara’s sense of urgency is heightened entering Year 8

Gamers enter each season trying to win a Tremendous Bowl, however as they become older, urgency begins to set in. They start to understand they don’t have as a lot time left of their profession and a larger sense of urgency is born from this realization.

New Orleans Saints working again Alvin Kamara has reached this level.

Kamara is simply 29 years outdated, removed from outdated however soccer age performs by totally different guidelines. That is very true for working backs, so Kamara understands the clock is ticking.

“I don’t need to sit right here and say, ‘Nicely, I bought time, I bought time.’ Ain’t no time, so I’m making an attempt to run it up,” he mentioned.

Kamara goes into Yr 8. He projected his profession by posing the hypothetical of him enjoying 16 or 10 seasons. Both means, he’s going into the again half of his profession.

“I really feel like there isn’t any time to waste, as a result of let’s simply say I’m on the midway level, if I had been to play 16 years,” Kamara mentioned. “Or 10 years, I’m on the again finish of my profession. I don’t need to waste no time.”

The Saints have missed the playoffs in every of the previous three seasons after making it in Kamara’s first 4 years. The working again is keen to return to the success he noticed early.

He does consider that urgency has prolonged to youthful gamers, as nicely. They might not have the identical profession timetable, so that they don’t perceive there’s no time to waste. What they do perceive, nonetheless, is the time to strike is now. That message comes from older leaders and is acquired by youthful gamers within the locker room.