From outer space? Sask. farmers baffled after discovering strange wreckage in field
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
Britain's inflation rate rose to a new 40-year high of 10.1 per cent in July, a faster pace than in the U.S. and Europe as climbing food prices in the United Kingdom tightened a cost-of-living squeeze fuelled by the soaring cost of energy.
The double-digit surge in consumer prices over a year earlier was higher than analysts' central forecast of 9.8 per cent and a jump from the annual rate of 9.4 per cent in June, the Office for National Statistics said Wednesday. The increase was largely due to rising prices for food and staples, including toilet paper and toothbrushes, it said.
Most economists believe worse is to come. The Bank of England says soaring natural gas prices are likely to drive consumer price inflation to 13.3 per cent in October. It says that will push Britain into a recession that is expected to last through 2023.
Those pressures persuaded the bank to boost its key interest rate by half a percentage point this month, the biggest of six consecutive increases since December. The rate now stands at 1.75 per cent, the highest since the depths of the global financial crisis in late 2008.
"We expect another 50bp (basis points) rate hike in September," said James Smith, developed markets economist and ING Economics. "We wouldn't rule out another hike in November."
Inflation is surging in many countries as Russia's war in Ukraine has triggered unprecedented increases in energy prices worldwide. Russia has reduced natural gas shipments to Europe in retaliation for the West's support of Ukraine, creating a crisis for the fossil fuel that powers factories and heats homes in the winter.
The gas woes are threatening a recession in the 19 countries sharing the euro currency, where inflation hit a record 8.9 per cent in July. The United States has already seen two quarters of economic contraction, intensifying fears of a recession. U.S. inflation eased somewhat to 8.5 per cent in July but is still near a four-decade high.
"I understand that times are tough, and people are worried about increases in prices that countries around the world are facing," U.K. Treasury chief Nadhim Zahawi said.
"Although there are no easy solutions, we are helping where we can," he said, including with a 400-pound (US$483) payment to households facing rocketing energy bills.
Britain's Conservative government is under pressure to do even more to help people cope with the cost-of-living crisis. The average U.K. household fuel bill has risen more than 50 per cent this year, and another increase is due in October, when the average bill is forecast to hit 3,500 pounds (US$4,300) a year.
Prime Minister Boris Johnson is due to leave office next month and says any new measures must be left to his successor. The favourite to replace him, Foreign Secretary Liz Truss, is opposed to major intervention, saying she favours tax cuts over "handouts."
The other contender, former Treasury chief Rishi Sunak, introduced a 25 per cent windfall tax on oil and gas companies' profits in May that is expected to raise several billion pounds to help fund payments for people with rising utility costs. Opposition politicians want the tax expanded to electricity firms -- a move Truss firmly opposes, saying, "I don't think profit is a dirty word."
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
The National Post is reporting that Rex Murphy, the pundit and columnist who hosted a national call-in radio show for decades, has died.
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
Careful attention to government statements and legislation is required to get a handle on the level of risk British Columbians’ information is under, as investigators probe multiple breaches under a continued barrage of attacks.
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
A Conservative government led by Pierre Poilievre would not legislate on, nor use the notwithstanding clause, on abortion, his office says, as anti-abortion protesters gather on Parliament Hill.
Hailey and Justin Bieber are going to be parents. The couple announced the news on Thursday on Instagram, both sharing a video that showcases Hailey Bieber's growing belly.
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
The Oscar-winning team behind the nearly US$6 billion blockbuster 'Lord of the Rings' and 'The Hobbit' trilogies is reuniting to produce two new films.
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.
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.
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.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.