Man arrested after allegedly caught trespassing at Drake's Bridle Path mansion
Toronto police say a man has been taken into custody after he was allegedly caught trespassing at Drake's mansion in Bridle Path Saturday afternoon.
Energy giant Shell reported record first-quarter earnings after a surge in oil prices, fuelling calls for the British government to impose a tax on energy companies' windfall earnings to help consumers struggling with the soaring cost of living.
London-based Shell said adjusted earnings -- which exclude one-time items and fluctuations in the value of inventories -- rose to US$9.1 billion from $3.2 billion in the same period last year. That beat analyst expectations of $8.2 billion.
High oil and gas prices, partly due to uncertainty about supplies from Russia, are boosting the profits of major energy companies and feeding inflation around the world. In Britain, where households face the biggest drop in living standards on record, that has triggered demands for a special tax on energy company earnings to help consumers.
Prime Minister Boris Johnson on Wednesday rejected calls for a windfall profits tax, saying it would reduce investment in Britain just as the country is trying to diversify its energy industry and increase production from renewable sources. But opposition parties stepped up pressure after Shell's earnings report.
The government's "refusal to tax the super-profits of energy companies is completely unforgivable when people are too terrified to heat their homes," said Ed Davey, leader of the Liberal Democrats. "This one-off levy would raise billions of pounds that could help vulnerable families with their energy bills now. It is a no-brainer."
Brent crude, a benchmark for global oil prices, averaged $102.23 a barrel during the first quarter, 67% higher than during the same period last year.
The British media is filled with stories about people forced to skip meals or go into debt as they struggle to heat their homes after a 54% increase in household energy prices took effect April 1. Even before those increases, inflation accelerated to a 30-year high of 7% in March.
Shell rival BP on Tuesday reported its highest quarterly profit in more than a decade. The London-based company said adjusted earnings rose to $6.2 billion in the first quarter, from $2.6 billion in the same period last year.
Michael Hewson, chief market analyst at CMC Markets UK, criticized politicians for "grandstanding" with calls for a windfall profits tax, pointing out that Shell last month announced plans to invest 25 billion pounds ($31 billion) in renewable energy in the U.K. BP made a commitment to invest 18 billion pounds in U.K. energy this week.
"That's a lot more than a windfall tax would raise and would probably be better spent," Hewson said.
Shell said Thursday that it would take a $3.9 billion charge to cover the cost of exiting investments in Russia, which it pledged to do after the invasion of Ukraine.
First-quarter net income, which includes such one-time items, rose to $7.3 billion from $5.8 billion in the same period last year.
"The war in Ukraine is first and foremost a human tragedy, but it has also caused significant disruption to global energy markets and has shown that secure, reliable and affordable energy simply cannot be taken for granted," CEO Ben van Beurden said in a statement. "We have been engaging with governments, our customers and suppliers to work through the challenging implications and provide support and solutions where we can."
Toronto police say a man has been taken into custody after he was allegedly caught trespassing at Drake's mansion in Bridle Path Saturday afternoon.
The wildfire that prompted the evacuation of more than 3,000 people near Fort Nelson, B.C., was caused by a tree falling on wires, according to the municipality's mayor.
The 68th Eurovision Song Contest finally got down to musical business Saturday in the Swedish city of Malmo after days of protests and offstage drama that have tipped the feelgood musical celebration into a chaotic pressure cooker overshadowed by the war in Gaza.
A man has been transported to hospital after police say he was stabbed in a random attack carried out by a group of teens in Toronto on Friday night.
The rolling hills leading to the hamlet of Rosebud are dotted with sprawling farms and cattle pastures -- and a sign sporting a simple message: No Race Track.
From London, to Grand Bend, Collingwood and Guelph, here are some highlights of Friday night and Saturday morning's northern lights display.
Ron Ellis, who played over 1,000 games with the Toronto Maple Leafs and was a member of Canada's team at the 1972 Summit Series, has died at age 79.
Irresponsibly using a credit card can land you in financial trouble, but personal finance columnist Christopher Liew says when used properly, it can be a powerful wealth-building tool that can help grow your credit profile and create new opportunities.
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
The threat of zebra mussels has prompted the federal government to temporarily ban watercraft from a Manitoba lake popular with tourists.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.