US inflation gauge cools with little sign of tariff impact, so far

WASHINGTON (AP) — A key U.S. inflation gauge slowed last month as President Donald Trump’s tariffs have yet to noticeably push up prices. Spending by Americans slowed despite rising incomes, potentially an early reaction to higher prices on some imported goods.

Friday’s report from the Commerce Department showed that consumer prices rose just 2.1% in April compared with a year earlier, down from 2.3% in March and the lowest since September. Excluding the volatile food and energy categories, core prices rose 2.5% from a year earlier, below the March figure of 2.7%, and the lowest in more than four years. Economists track core prices because they typically provide a better read on where inflation is headed.

The figures show inflation is still declining from its post-pandemic spike, which reached the highest level in four decades in July 2022. Economists and some business executives have warned that prices will likely head higher as Trump’s widespread tariffs take effect, though the timing and impact of those duties are now in doubt after they were struck down late Wednesday in court.

On a monthly basis, overall prices and core prices both increased just 0.1% from March to April. The cost of big-ticket manufactured goods rose a hefty 0.5%, though that increase was offset by a 0.1 decline in other goods, such as groceries. The cost of services rose just 0.1% from March to April.

RioCan REIT asks court to put joint venture with Hudson’s Bay into receivership: docs

TORONTO - RioCan Real Estate Investment Trust is pushing to put a joint venture it owns with Hudson's Bay into receivership.

A motion filed late Thursday from the real estate firm asks the Ontario Superior Court to appoint FTI Consulting Canada Inc. receiver of the companies that span the venture.

“The proposed receivership proceedings will provide the appropriate forum to protect the interests of the stakeholders of the joint-venture entities and maximize value,” RioCan’s chief financial officer Dennis Blasutti said in an affidavit filed alongside the motion.

Receivers are empowered by courts to take control of a company’s assets, oversee their liquidation and repay creditors.

Laurentian Bank reports $32 million Q2 profit as work continues on strategic plan

Laurentian Bank of Canada says it's making progress on its turnaround efforts as it marks a year of working through its strategic plan.

"We've taken meaningful steps to transform our organization and are making steady progress toward generating efficiency," said chief executive Éric Provost on an earnings call Friday.

"While we're still in the early stages, we are satisfied with the progress we have made."

The bank has been working to boost its dealings in the specialized commercial sector while maintaining consumer deposits, as well as boosting technology investments for a bank that until recently didn't offer a smartphone app.

New Zealand hails ‘breakthrough’ in trade talks with India, but no timeline for deal

NEW DELHI (AP) — New Zealand’s deputy prime minister said on Friday that talks over a free trade agreement between his country and India were ongoing, but he didn't provide a timeline for when the two nations could eventually sign a deal.

Winston Peters, who is on a two-day visit to India, said that the negotiations were “going with real meaning now," calling them “a breakthrough in our economic relationship.”

India and New Zealand began negotiations in March for a trade pact, and had aimed to sign a deal in 60 days. The deal will significantly bolster economic ties between the two countries, but it has faced delays because of differences over tariffs on dairy products.

Bilateral trade between India and New Zealand stood at $1.7 billion in the 2023-24 financial year.

Bank of Canada expected to hold key rate after surprise Q1 GDP jump

OTTAWA - The Canadian economy got a boost to start the year as businesses rushed to get ahead of tariffs, and some economists believe that lift will be enough to keep the Bank of Canada on the sidelines at its interest rate decision next week.

Real gross domestic product rose 2.2 per cent annualized in the first quarter of 2025, Statistics Canada reported Friday, up a tick from 2.1 per cent in the fourth quarter.

The first quarter figures topped StatCan’s flash estimate for annualized growth of 1.5 per cent and beat calls for 1.7 per cent from a Reuters poll of economists.

"We did get a better number, overall," said CIBC chief economist Avery Shenfeld.

Generating goodwill at the parking meter

Recent reports from the City of Winnipeg about plans to remove all the downtown parking meters left our household upset.

Judge wrestles with far-reaching remedy proposals in US antitrust case against Google

WASHINGTON (AP) — The fate and fortunes of one of the world’s most powerful tech companies now sit in the hands of a U.S. judge wrestling with whether to impose far-reaching changes upon Google in the wake of its dominant search engine being declared an illegal monopoly.

U.S. District Judge Amit Mehta heard closing arguments Friday from Justice Department lawyers who argued that a radical shake-up is needed to promote a free and fair market. Their proposed remedies include a ban on Google paying to lock its search engine in as the default on smart devices and an order requiring the company to sell its Chrome browser.

Google’s legal team argued that only minor concessions are needed and urged Mehta not to unduly punish the company with a harsh ruling that could squelch future innovations. Google also argued that upheaval triggered by advances in artificial intelligence already is reshaping the search landscape, as conversational search options are rolling out from AI startups that are hoping to use the Department of Justice’s four-and-half-year-old case to gain the upper hand in the next technological frontier.

It was an argument that Mehta appeared to give serious consideration as he marveled at the speed at which the AI industry was growing. He also indicated he was still undecided on how much AI’s potential to shake up the search market should be incorporated in his forthcoming ruling. “This is what I’ve been struggling with,” Mehta said.

Trump says US Steel will keep HQ in Pittsburgh in a sign he’ll approve bid by Japan-based Nippon

WASHINGTON (AP) — President Donald Trump said Friday that U.S. Steel will keep its headquarters in Pittsburgh as part of what he called a “planned partnership” that seemed to signal that he’ll approve a bid by Japan-based Nippon Steel to make a big investment in the iconic American steelmaker, if not buy it outright.

Still, Trump's statement left it vague as to whether he is approving Nippon Steel's bid after he vowed repeatedly to block the deal to prevent U.S. Steel from being foreign-owned.

More recently, Trump suggested that Nippon Steel would invest in U.S. Steel, not buy it, and one union official suggested Friday that the federal government will have a role in the company's management going forward. But investors seemed to take Trump's statement as a sign that he's approving some sort of merger, sharply pushing up U.S. Steel's shares, and the companies issued approving statements.

Nippon Steel said the partnership is a “game changer — for U.S. Steel and all of its stakeholders, including the American steel industry, and the broader American manufacturing base.” U.S. Steel said it “will remain American, and we will grow bigger and stronger through a partnership with Nippon Steel that brings massive investment, new technologies and thousands of jobs over the next four years."

‘Soup Nazi’ actor dips ladle for victims of Vancouver festival attack

VANCOUVER - "Soup Nazi" actor Larry Thomas, best known for his guest role as a strict soup seller on the sitcom "Seinfeld," will be picking up his ladle again to raise money for victims of last month's attack on Vancouver's Lapu Lapu Day festival.

The Los Angeles-based actor said he will be serving at the Greens And Beans Deli in New Westminster, B.C., on Sunday as part of the restaurant's fundraising efforts.

Thomas said the April 26 attack that killed 11 people was a "terrible thing," prompting him to reprise his fundraising relationship with the deli that stretches back 20 years.

Leona Green, owner of the deli, first reached out to Thomas to ask him to serve soup at a fundraiser for the 2004 Indian Ocean Tsunami.

The road back to respectability proving to be a long one for Toronto FC

TORONTO - A record 6-1 win at rival CF Montreal last time out and the possible return of captain Jonathan Osorio from injury for Saturday's visit by Nashville SC offer hope for beleaguered Toronto FC fans.

But the road back to respectability is proving to be a long one for Toronto (3-7-4).

Saturday's game is the 600th regular-season outing for the franchise, which has compiled a 180-264-155 record since entering Major League Soccer in 2007. Eighty-five of those wins came between 2015 and 2020, when Toronto made the playoffs five out of the six seasons — its only post-season appearances to date.

Toronto reached the MLS Cup final in 2016, '17 and '19, hoisting the trophy in 2017 when it also won the Canadian Championship and Supporters' Shield (for the best regular-season record).

Inquiry must be called to get answers on sand mine scandal

It’s pretty clear by now that an inquiry should be called into the Sio Silica scandal.

Ethics Commissioner Jeffrey Schnoor released his long-awaited report into the matter this week. He found that former premier Heather Stefanson, then deputy premier Cliff Cullen and then economic development minister Jeff Wharton, violated the province’s Conflict of Interest Act by attempting to approve a licence for a controversial silica sand mining project after their government was defeated in the Oct. 3, 2023 provincial election.

All three ministers pushed to have a Class 2 licence under the Environment Act approved for Sio Silica, days before the new NDP government was sworn into office.

They did so even though they knew, or ought to have known, that it violated the “caretaker convention,” a longstanding constitutional principle in Canada that prohibits governments from making major policy decisions once a general election is called (unless it’s related to an urgent matter of public importance).

Cohere asks U.S. court to toss complaint from media alleging copyright infringement

TORONTO - Cohere is asking a U.S. court to throw out complaints from media outlets that have accused the artificial intelligence company of infringing on their copyright.

In a dismissal motion filed in a New York court on Thursday, Cohere accused publishers including the Toronto Star, Condé Nast, McClatchy, Forbes Media and Guardian News of deliberately using its software to "manufacture a case."

The Toronto-based company said the outlets must have "stylized" prompts they entered into Cohere's software to elicit portions of their own work, which sometimes included inaccuracies.

It argued nothing in the complaint filed by the outlets suggests that any real customer has ever used the company's software to infringe on the publisher's copyright.

Strike threat could push more customers away from struggling Canada Post

MONTREAL - Canada Post customers may face delays as tens of thousands of workers swear off overtime shifts, though a much bigger disruption was averted after the union backed down from a strike threat.

Nonetheless, the possibility of escalating job action could continue to scare off customers who pulled their shipments over the past couple of weeks, draining more business from the cash-strapped organization.

“I’m scared for the future,” said Edmonton mail carrier Dustin Ellis, who recently went on leave to study for a new career in social work.

He said the union should show more flexibility on key sticking points such as part-time weekend work and "dynamic routing" — where the path carriers take can vary day to day.

Trump threatens 50% tariffs on EU and 25% penalties on smart phones as his trade war intensifies

WASHINGTON (AP) — President Donald Trump on Friday threatened a 50% tax on all imports from the European Union as well a 25% tariff on smartphones unless those products are made in America.

The threats, delivered over social media, reflect Trump's ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs have yet to produce the trade deals he is seeking or the return of domestic manufacturing he has promised voters.

The Republican president said he wants to charge higher import taxes on goods from the EU, a longstanding US ally, than from China, a geopolitical rival that had its tariffs cut to 30% this month so Washington and Beijing could hold negotiations. Trump was upset by the lack of progress in trade talks with the EU, which has proposed mutually cutting tariffs to zero even as the president has publicly insisted on preserving a baseline 10% tax on most imports.

“Our discussions with them are going nowhere!” Trump posted on Truth Social. “Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States.”

Kashmir tourism bears the brunt after tourist massacre and India-Pakistan military strikes

SRINAGAR, India (AP) — There are hardly any tourists in the scenic Himalayan region of Kashmir. Most of the hotels and ornate pinewood houseboats are empty. Resorts in the snowclad mountains have fallen silent. Hundreds of cabs are parked and idle.

It’s the fallout of last month’s gun massacre that left 26 people, mostly Hindu tourists, dead in Indian-controlled Kashmir followed by tit-for-tat military strikes by India and Pakistan, bringing the nuclear-armed rivals to the brink of their third war over the region.

“There might be some tourist arrivals, but it counts almost negligible. It is almost a zero footfall right now,” said Yaseen Tuman, who operates multiple houseboats in the region’s main city of Srinagar. “There is a haunting silence now.”

Tens of thousands of panicked tourists left Kashmir within days after the rare killings of tourists on April 22 at a picture-perfect meadow in southern resort town of Pahalgam. Following the attack, authorities temporarily closed dozens of tourist resorts in the region, adding to fear and causing occupancy rates to plummet.

Trump hosts top crypto investors as some industry leaders fear he’s putting personal profits first

WASHINGTON (AP) — President Donald Trump rewarded top investors in one of his cryptocurrency projects with a swanky dinner on Thursday night, an event that showed the ascendance of an emerging financial industry — and also the president's willingness to mix public office with personal profit.

Some 220 of the biggest investors in the $TRUMP meme coin were invited to Trump's luxury golf club in Northern Virginia, where they dined on filet mignon and halibut. According to participants' posts on social media, Trump spoke for about half an hour before dancing to the song “YMCA.”

Despite the White House insisting that Trump would be attending the event “in his personal time,” he stood behind a lectern with the presidential seal as he touted an industry that's generating profits for his family business.

After feeling unfairly targeted under President Joe Biden, the crypto industry has quickly become a powerful political force, donating huge sums to help Trump and friendly lawmakers. The U.S. Senate is advancing key pro-crypto legislation while bitcoin prices soar.

Winnipeg TV content delivery firm Taiv acquires potential Ontario rival Local Reach

A Winnipeg advertising technology company is one step closer to launching its product in Canada after acquiring a startup based in Kingston, Ont.

Taiv Inc. purchased Local Reach in a deal that closed last month. The terms of the deal were not disclosed.

Local Reach co-founders Evan Ferreira and Joseph Liao, who created the startup while studying at Queen’s University in Kingston, will move to Winnipeg and join Taiv’s staff. Taiv acquired some of the startup’s tech as part of the cash-and-stock transaction.

It’s Taiv’s first acquisition and a big milestone for the six-year-old company, according to co-founder and CEO Noah Palansky.

Sweeping tariffs could be 3% hit to Canadian economy, even with carve-outs: report

TORONTO - A CIBC report says sweeping tariffs imposed by the U.S. could cost the Canadian economy as much as 3.25 per cent, even factoring in possible exemptions for the oil and gas sector.

An analysis published Tuesday examined four potential scenarios in which U.S. President Donald Trump slaps new taxes on goods imported from Canada, ranging from 10 to 20 per cent and with possible carve-outs for key industries.

Speaking with reporters on Monday evening, Trump said he's thinking about hitting Canada and Mexico with 25 per cent tariffs on Feb. 1.

Prime Minister Justin Trudeau has said Canada would respond and that "everything is on the table."

Forgotten Flavours Artisan Bakery fills Pennyloaf void on Corydon

After nearly a year, the smell of fresh bread will once again fill a Corydon Avenue bakery.

The sign out front no longer reads “Pennyloaf Bakery,” and the staff inside are no longer employed by former clothing mogul and entrepreneur Pepper Foster.

Instead, an emblem for Forgotten Flavours Artisan Bakery faces passersby. Owners Chris and Maria Holbrow busy themselves inside 858 Corydon Ave., preparing for the Winnipeg shop’s first day open Tuesday.

“We’re trying to complement the space and ensure that we can fill a void that was very sad to see go,” Chris Holbrow said. “We have a great product to offer.”

Manitoba auto repair shops in high gear amid lengthy MPI strike

Despite bumps in the road, Manitoba auto repair shops are chugging along as strike action at Manitoba Public Insurance drags into its seventh week.

“There are some delays, but we are hoping the (MPI) people can get back to work. We miss them. We miss the adjusters, but there is not much we can do about it,” said John Vernaus, owner of Vernaus Autobody in Winnipeg.

“Can you ask for more when (MPI is) operating with maybe one-10th of the staff?”

Around 1,700 walked off the job Aug. 28, after the Manitoba Government General Employees’ Union and the Crown auto insurer failed to reach a contract agreement. Many services have been halted, delayed or limited in the weeks since, as MPI works to maintain operations with reduced staff.

Flour & Flower plants roots with Waterloo Street location as demand for unique cakes, cookies decorated with edible flowers grows

Rachel Nedelec’s baking has reached the Grammys and Australia, an international fashion house and at least one yoga studio.

Next week, Flour & Flower will have a permanent home — its first brick-and-mortar bakery.

“I said, ‘I want it, I need it, this is my space,’” Nedelec recounted, laughing.

She and her real estate agent had heard the spot at 530 Waterloo St. was coming available. It was déjà vu: Nedelec first toured the site in early 2020, when her business was not yet half a year old.

Crave introduces ad tiers, including $9.99 plan

TORONTO - Crave is introducing two ad-supported tiers that each shave $5 or $10 off the monthly subscription fee.

Bell Media says its new Crave Basic with Ads costs $9.99/month, while Crave Standard with Ads costs $14.99/month. An unchanged ad-free option remains at $19.99/month, and is renamed Crave Premium Ad-Free.

Viewers can watch most shows and movies, including HBO and Max originals, on the ad-supported plans. About one per cent of titles won't be available due to licensing restrictions.

Ads will be 15 or 30 seconds long, totalling about five minutes per hour, and appear before and during some episodes and films.

Low-cost Temu goes head-to-head with Amazon

It started with a video of a postal worker sorting a mountain of orange packages from Temu.

Rachael D'Amore hadn't heard of the online shopping site, but after watching the video she found good reviews, affordable products and free shipping on most orders — what she called "a unicorn in Canada these days."

"I had to double check the URL to make sure that I wasn't on the U.S. site," she said.

Temu also offered a $5 credit if an order took longer than 12 days to arrive — a quasi-insurance policy that gave D'Amore the confidence to place a $30 order for seven items, including an 89-cent necklace, earrings for $1.78 and hair clips for $3.59.