Latest news with #NickWells
Global News
8 hours ago
- Climate
- Global News
Temperature records tumble as heat bakes southwest B.C.
The weather roasting parts of British Columbia was hot enough to break nine temperature records on Monday. Heat warnings remained in effect for much of southwest B.C. on Tuesday, including the Lower Mainland, eastern Vancouver Island, Sunshine Coast and Sea-to-Sky regions, Fraser Canyon, Thompson and South Okanagan. Monday's B.C. hotspot was in Pemberton, where the mercury topped out at 37.4 C, breaking a 48-year-old record. Vancouver Island, Victoria, Nanaimo, Campbell River and Duncan all also saw records topple. Forty-eight-year-old records also fell in the Lower Mainland, with temperatures of 32.2 C measured in White Rock and 35.8 C recorded in Abbotsford. 1:27 Out-of-control Mount Underwood wildfire closes roads, cuts off power to Bamfield With hot temperatures expected to persist until mid-week, WorkSafeBC is reminding employers that they are required to ensure both indoor and outdoor workers are protected from heat-related illness. Story continues below advertisement 'Heat stress is a risk in the workplace, be that outdoor workplaces or indoor workplaces, just like any other occupational health and safety risk,' said Susana Prpic, WorkSafeBC senior manager of prevention services. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'So really we need to communicate it, we need to discuss it at the start of each shift each day, so that all workers are comfortable, if they don't feel good, if there is an increase in the temperature … that they know what to do, notify their supervisor, their first aid attendant right away.' Advocates for the region's homeless are also raising concerns about the effects of the hot weather. Vancouver's Downtown Eastside is considered an 'urban heat island,' meaning it can get hotter than the surrounding area during a heat wave due to its high density and lack of shade and green spaces. Outreach workers with the Union Gospel Mission have been out walking in the community, directing people to community centres and other cooling resources. 'We're giving out hundreds of glasses of water, juice, food, sunscreen, hats, all that kind of stuff to help prevent people, or at least try to mitigate some of the damage that people may be experiencing, and also letting them know about the services we offer,' said UGM spokesperson Nick Wells. 'Our Cornerstone drop-in area is open for extended hours during these hot weather events.' Story continues below advertisement The worst of the heat is expected to peak Tuesday evening, with more moderate temperatures forecast for Wednesday.
The Age
2 days ago
- Business
- The Age
ASX higher on rate cut hopes; JB Hi-Fi falls
Financial stocks were stronger, with Westpac up 1.9 per cent, ANZ rising 1.2 per cent and NAB adding 0.9 per cent. Commonwealth Bank, which will deliver its results on Wednesday, was 01.1 per cent higher. Loading Energy stocks were mixed, with Woodside adding 0.7 per cent, Yancoal flat and Santos slipping 0.1 per cent. The laggards Consumer discretionary stocks were the worst performing segment, down 1.6 per cent after a strong performance last week as JB Hi-Fi slumped 8.4 per cent to $107.83 despite boosting sales and profits as long-serving CEO Terry Smart announced his departure. He will be replaced by chief operating officer Nick Wells. The leadership announcement was made on the same day its full-year results were released, revealing a 10 per cent rise in sales to $10.6 billion, and a 5.4 per cent growth in profits to $462.4 million for fiscal 2025. The company has announced a fully franked final dividend of 105¢ a share, bringing the total dividend to 275¢ a share. It has also declared a special dividend of 100¢ a share. Wesfarmers fell 1.8 per cent, Aristocrat Leisure was down 1.1 per cent and Harvey Norman slipped 2.5 per cent. Australia's tech sector was underperforming the market, down 0.4 per cent as TechnologyOne sank almost 2.9 per cent to $39.18 and Xero lost 3 per cent. Gold miners took a breather as the precious metal eased around 1.5 per cent to $US3437.1 ($5269) an ounce. The lowdown The Australian sharemarket has made a bright start to the week ahead of Tuesday's Reserve Bank decision, with financial markets expecting the central bank to deliver the third cut in official interest rates this year. The top 200 briefly hit 8852.3, topping last week's intraday record of 8848.8 amid high expectations of a cut, Moomoo market strategist Michael McCarthy said. 'What many analysts seem to overlook is that just because the RBA [Reserve Bank of Australia] can cut doesn't mean it will cut,' he said. 'While core inflation at 2.7 per cent gives the RBA room to move, an unemployment rate of 4.3 per cent means it's not under any pressure to do so.' A refusal to cut on Tuesday could have a significant impact on the share market, McCarthy said. 'We expect the RBA to cut the cash rate by 25 basis points next week to 3.6 per cent... The overall tone of the statement will likely be neutral with a dovish lean,' Citi analysts wrote in a note. All eyes will be on Tuesday's decision as earnings season is hitting its stride, with CBA, Seven West, AGL, IAG, Suncorp, Telstra, Cochlear and Origin among companies reporting this week. Meanwhile, options traders are using currencies such as the Australian dollar and euro to express bearish US dollar views after recent disappointing American economic data. The Aussie is being supported by the Reserve Bank's 'cautious and gradual' stance on easing, as well as improving risk sentiment. The euro's allure has grown from expectations an increase in regional defence spending will support the euro-zone economy, and a more hawkish-sounding European Central Bank. Meanwhile, things look rockier for the US dollar as data showed jobs growth missed expectations in July with downward revisions to prior months as well. Standard Chartered Bank has seen 'a lot of interest' in euro-US dollar and Australian dollar-US dollar call options after non-farm payrolls, according to Saurabh Tandon, global head of foreign-exchange options in Singapore. The market is focusing on upcoming events such as US inflation and the Federal Reserve's Jackson Hole symposium, he said. National Australia Bank has seen a pick-up in demand for bullish Australian dollar option wagers, as well as for those on the New Zealand dollar. 'Following the recent non-farm payrolls, we've observed significant activity in AUD/USD and NZD/USD short-dated call options, in anticipation of a busy data week, including the US CPI release and the RBA meeting.' said Con Davelis, Sydney-based head of FX options at the bank. On Friday, the S&P 500 rose 0.8 per cent, finishing just shy of the record it set last week. The benchmark index also wiped out its losses from a slide last week. The Dow Jones rose 0.5 per cent and the Nasdaq composite added 1 per cent to the all-time high it had set a day earlier. Technology companies, with their hefty stock values, did much of the heavy lifting for Wall Street. Nvidia rose 1.1 per cent and Apple gained 4.2 per cent. Gilead Sciences jumped 8.3 per cent for one of the market's biggest gains. It reported financial results that easily beat analysts' forecasts, while also raising its earnings forecast for the year. Expedia Group rose 4.1 per cent after also reporting encouraging financial results. Loading They are among the final big batch of companies within the S&P 500 to report mostly strong financial results for the second quarter. Still, many have warned that current tariffs could cut into their profits. Financial sector stocks also helped drive the market higher. Bank of America gained 2.4 per cent and Mastercard rose 2.3 per cent. Elsewhere in the market, entertainment giant Paramount Skydance slid 10.5 per cent a day after the company was created by the closing of an $US8 billion ($12.3 billion) merger of Skydance and Paramount. Shares in rival Warner Bros. Discovery sank 8 per cent. The main focus throughout the week has been on President Donald Trump's trade war and its potential impact on the US economy, as well as the Federal Reserve's interest rate policy. Trump began imposing higher import taxes on dozens of countries on Thursday. Still, the market appeared to largely shrug off the latest tariff escalation. 'The S&P 500's rebound this week may highlight the extent to which the market is becoming numb to tariff headlines,' said Daniel Skelly, head of Morgan Stanley's wealth management market research and strategy team. The unknown path of the economy amid an unpredictable tariff policy has been the key reason for the Fed to hold its benchmark interest rate steady. Loading Fed chair Jerome Powell, though, has been under increasing pressure from Trump to cut interest rates. Policy decisions aren't made solely by the Fed chair. All 12 members of the Federal Open Market Committee vote on interest rate changes. Trump has an opportunity to exert more control over the Fed following his nomination of Stephen Miran to a vacancy on the Fed's board of governors. Miran is a top economic adviser to Trump and is a near-certain vote in support of lower interest rates. The Fed's last decision to hold interest rates steady included two votes to lower interest rates. Its next meeting is in September, and Wall Street is overwhelmingly betting that the central bank will cut interest rates by a quarter of a percentage point. Wall Street and the Fed will get more insight next week on inflation's temperature and the economy. The government will publish updates on inflation at both the consumer and wholesale levels, along with a report on retail sales.
Sky News AU
2 days ago
- Business
- Sky News AU
ASX 200 surges on Monday after strong performance on Wall Street last week
The ASX has surged on Monday, following a leap on Wall Street last week where the Nasdaq hit a record high on Friday. The index has added 0.3 per cent in the first 45 minutes of trading, building on its 1.7 per cent climb last week. JB Hi-Fi jumped dived about 1.7 per cent after revealing its CEO Terry Smart was resigning and would be succeeded by current COO Nick Wells. This came despite the electronics retailer posting a 5.4 per cent profit lift to $462m and delivering investors a $2.75 dividend per share for the 2025 financial year. Farhan Badami, a market analyst at eToro, said JB Hi-Fi's performance stood out in an otherwise 'cautious consumer environment'. 'While many retailers have battled margin pressure from higher costs and weaker discretionary spending, JB Hi-Fi has leaned on brand strength, pricing discipline and a diversified product mix to keep sales momentum alive,' Mr Badami said. Meanwhile, major minerals companies have launched on Monday with Liontown Resources adding 18.9 per cent, Pilbara Minerals jumping 15 per cent and Mineral Resources rising 10.1 per cent. Investors await the Reserve Bank of Australia's rate call on Tuesday where the central bank is widely expected to deliver a cut. This follows the RBA unexpectedly keeping rates on hold in July despite money markets at one point forecasting a 99 per cent chance of a cut. For the August call, money markets say there is a 98.5 per cent chance of a rate cut on Tuesday. Wall Street was in the green on Friday where the Nasdaq rose about one per cent as Apple jumped 4.3 per cent in one day, adding to its recent hot streak. The stellar performance was seen across the major Wall Street indexes where the Dow Jones jumped half a per cent and the S&P 500 rose 0.8 per cent. It was a mixed bag in Europe with London's FTSE 250 jumping about 0.1 per cent, Germany's DAX sinking 0.1 per cent and the STOXX Europe 600 adding 0.2 per cent. New Zealand's NZX 50 has jumped 0.6 per cent since trading began on Monday.
CTV News
12-07-2025
- General
- CTV News
Union Gospel Mission hosts 26th annual summer barbecue
Thousands of Downtown Eastside residents made their way to Oppenheimer Park Saturday for Union Gospel Mission's 26th annual summer barbecue. (UGM) Thousands of Downtown Eastside residents made their way to Oppenheimer Park Saturday for Union Gospel Mission's 26th annual summer barbecue. 'It's a chance for the community to kind of come together, maybe get introduced to some of our services, and build connections, too,' said UGM spokesperson Nick Wells. The charity was expecting 3,000 people and prepared to serve as many as 4,000, Wells said. Volunteers cooked 4,000 hamburgers and 4,000 smokies, prepared 800 pounds of coleslaw, freezies and more – 'everything to make sure that people go away happy and fed,' he said. 'People who are experiencing poverty or are unhoused may not be able to enjoy the kind of simple things we take for granted in summer,' Wells said. 'This is a chance for people to get together, for kids to play on a bouncy castle, to play in a ball pit, to get cotton candy.' For adults, it serves as an opportunity to take their minds off the pressures of day-to-day life and just enjoy a summer day. While the summer barbecue and other large meals – like those UGM serves for Christmas, Easter and Thanksgiving – are some of the charity's most visible efforts, Wells said the organization also serves about 750 meals a day across Metro Vancouver. UGM also connects clients with donated clothing, resources for addiction recovery, job training and more. Large events like the summer barbecue are a way for people to get introduced to UGM staff and volunteers, build trust and ask for help with their specific needs, Wells said. He referenced "Mind the Gap," a recent literature review conducted by UGM and the University of British Columbia that looked at four different care models that could be implemented and expanded in the Downtown Eastside. One thing they all had in common, he said, was that they relied on a 'sense of community and togetherness' to help build connections with people in need. 'That's what an event like this does,' Wells said. 'This is a case of our continuum of care in action, really.'
BBC News
19-05-2025
- Automotive
- BBC News
M25 in Kent, Essex and Hertfordshire sees temporary speed limits
Drivers using two sections of the M25, in Kent, Surrey, Essex and Hertfordshire, are being warned to keep to temporary speed restrictions, despite no obvious work being carried Highways says the speed limits, between junctions five and seven and junctions 23 and 27, are so newly installed technology can be tested and fine equipment will detect vehicles that have stopped on the and free recovery is in operation while the speed limits are in place. Nick Wells from National Highways said: "These measures are in place as an extra safety precaution until testing is complete and the system is meeting our rigorous performance specification."We are grateful for drivers' patience during this time and are working hard to restore the national speed limit at the earliest possible opportunity."National Highways said the testing process usually takes about 12 weeks, although no specific end date has been said the testing can only happen when there are no roadworks and when drivers are able to use all lanes of the motorway.
