Latest news with #Osborne
Business Recorder
6 hours ago
- Business
- Business Recorder
Dollar slips after ECB hints at rates pause
NEW YORK: The dollar slipped against the euro on Thursday after the European Central Bank hinted at a pause in its year-long policy easing cycle and US data pointed to softening labor market conditions amid mounting economic headwinds from tariffs. The ECB cut interest rates for the eighth time in a year on Thursday, acknowledging inflation was under control and turning more pessimistic about economic prospects amid risks of a trade war with the United States. While not confirming a pause, the central bank said it was now well-positioned to cope with global economic uncertainty, as market bets grew on a summer break in its year-long easing cycle. 'With today's cut and the current level of interest rates... I think we are getting to the end of a monetary policy cycle that was responding to compounded shocks, including COVID, including the war in Ukraine, the illegitimate war in Ukraine, and the energy crisis,' ECB President Christine Lagarde said. The euro rose 0.5% to $1.1473, a fresh six-week high against the dollar, not far from the more than 3-year high of $1.1573 touched in April. 'The euro-dollar has taken off here in response to Lagarde saying the ECB is getting towards the end of its rate cutting cycle,' said Shaun Osborne, chief currency strategist at Scotiabank. The dollar's softer tone was an extension of its recent weakness, with the US currency down nearly 10% against the euro for the year. 'This just broadly reflects the softening in the broader dollar sentiment here and may well continue into non-farm payrolls tomorrow,' Osborne said. 'We are also seeing a little bit of volatility around news of President Trump talking to Xi, in a first sign of high-level communication between the White House and Beijing in quite some time,' Osborne said. Chinese President Xi Jinping on Thursday held talks with Donald Trump by phone, China's state-run news agency Xinhua reported, as bilateral relations have been strained by trade disputes. The dollar also came under pressure after data showed the number of Americans filing new applications for unemployment benefits last week increased for a second straight week, pointing to softening labor market conditions amid mounting economic headwinds from tariffs. The claims data have no bearing on the Labor Department's closely watched employment report for May, scheduled to be released on Friday, as it falls outside the survey period. Sterling was 0.3% higher against the dollar on Thursday. The United Kingdom is the only country to have struck a trade deal with the Trump administration and was spared from higher US steel and aluminium tariffs, though analysts question how beneficial those factors are. Bitcoin, the world's largest cryptocurrency by market capitalisation, was 0.5% lower on the day at $104,021.
Irish Daily Mirror
2 days ago
- General
- Irish Daily Mirror
O'Connell names 11 uncapped players for Ireland tour to Georgia and Portugal
Paul O'Connell has revealed a 32-strong squad for the forthcoming tour to Georgia and Portugal packed with 11 new caps in the 32-strong panel to be captained by Craig Casey. These include Shayne Bolton, Nathan Doak, Hugh Gavin, Ben Murphy and Tommy O'Brien in the backs. And forwards Stephen Smyth, Michael Milne, Paddy McCarthy, Darragh Murray, Tom Ahern and Alex Kendellan. Smyth, a 20 year-old hooker, has made just four appearances for Leinster this season, all of them from the bench and totalling just 65 minutes of competitive action. Their common denominator is that O'Brien, Gavin, Bolton, Doak, Murray and Kendellan started Ireland's A game against England at Bristol in late February while Smyth (who came on in the sixth minute) and McCarthy were on the bench. Elsewhere there will be satisfaction in Ulster that Stuart McCloskey and Jacob Stockdale made the cut while Munster fans will be happy to see both their cause celebres, Tom Ahern and Gavin Coombes, in the fold. Leinster, who have 11 players down for Lions duty and for whom Caelan Doris and Robbie Henshaw are injured, provide a further dozen to this squad although only Sam Prendergast, Jimmy and Tommy O'Brien and Jamie Osborne could be considered 'front-liners'. Osborne travels as the most 'complete' back in the history of Irish rugby - nobody has ever started at full-back, left and right wing, inside and outside centre for a province in one season before. This was part possible when following playing on the right-wing for Ireland against France in the Six Nations, he started the Champions Cup Last 16 game against Glasgow in the same position, the first time he had won that shirt for the club. However it took until last Saturday to complete the full-hand when selected at no13 against Scarlets, playing outside Jordie Barrett in the absence of Garry Ringrose and Robbie Henshaw through injury. Not that Osborne was seen simply as a 'fill-in' as the option was there to use Barrett as the outside centre but not exercised, possibly because management likes to keep the All Black on Sam Prendergast's shoulder, near his ear. 'Jamie came on for Garry in the game against Zebre, so he played there. He has had repetitions in there, it is something he has been exposed to since the Zebre game so he naturally continued on there.' 'He did really well," said Jacques Nienaber. "So last year he played mostly no12 for us and he did really well last weekend. "I had seen him in training there before and maybe if there was a little bit of injuries there during other games he would move there towards the end. "But this is the first time I saw him playing there and I just monitored him defensively, Tyler (Bleyendaal, Attack Coach) will have opinions on his attack, but defensively I thought he did really well.' Farrell and Osborne had been smiling earlier in the day too when they were named in the URC 2024/25 Elite XV alongside clubmates Craig Casey, Tadhg Beirne and RG Snyman. Meanwhile there is set to be a fantastic battle to see who will prosper at no6 in Portugal and Georgia, to lay a claim to the retiring Peter O'Mahony's spot, between Cormac Izuchukwu and Ryan Baird. The Ulster player was handed the no6 in the Autumn Series game with Fiji but it was his Leinster rival who started the opening Six Nations game against England and who remained on the bench for the next four games. Baird has been growing into the Leinster season and is expected to start against Glasgow in the URC semi-final at the Aviva. "I just kept my head down, kept pounding the rock, as Stu Lancaster would have preached to us many years ago," says Baird. 'Are they actually downs in the grand scheme of things? If you ask me, how has my year been compared to last year in which I would have played a lot more games, Ryan Baird has had as good of a year as a person than he has had last year. 'As a rugby player, I've grown, I've learned loads. I'm not a pessimist, I'm an optimist but there's a realism in there as well. But for sure I just try to see the positives in things. 'I would be a believer that not so much everything happens for a reason but you have a choice when something happens how you react and if you react in a positive way, you're more likely to get a positive reaction and then you just bounce off that. Overall, another great year, but we are not done yet.' Meanwhile of those left out, Munster's Tom Farrell must feel most hard done by following truly remarkable season where he stood out week in, week out for th Reds, starting all 26 of their games and gaining one of the four nominations for Rugby Players Ireland's Player of the Year. He was also the winner of the URC's Playmaker of the Year, a new category for 2024/25, selected by awarding three points for try assists, two points for offloads and one for defenders beaten. Notwithstanding Farrell's crossing for nine URC tries (a hat-trick at Ulster), there were five assists, 41 offloads and 61 defenders left behind finishing with nearly 50 per cent more points than nearest rivals Warrick Gelant (Stormers) and Quan Horn (Lions). 'I'm delighted to announce the Ireland squad for the Summer Tour," says O'Connell, "and I believe we have a strong blend of youth and experience for what will be a trip into relatively uncharted territories this July. 'Georgia have made great strides in recent years, and they have made significant investment in their rugby programme which has established them amongst the leading emerging sides in international rugby. "Under the experience of Richard Cockerill they have built on a traditionally strong forward unit with a talented backline and they will provide a tough test for us. "Portugal showcased their attacking prowess during the Rugby World Cup 2023 and Simon Mannix is a Coach I know having worked with him previously (at Munster). They play with confidence and we're expecting another tough test. 'With 15 players away with The British & Irish Lions, this tour presents an opportunity for those on the fringes to impress the coaching team. "A number of players have been really close to selection in recent times and it's important that everyone grasps the challenge that's ahead of them. "Every moment on the training field and across the two-match Series will count and there's a great opportunity for players to step up and impress. 'In welcoming the squad, I would like to congratulate Craig (Casey) on his selection as captain. He is a real leader with a strong personality and it is a huge personal honour for him and an opportunity that I know he will relish over the coming weeks.' Ireland Men's Squad - Summer Tour 2025: Player/Club/Province/Caps Forwards (18): Tom Ahern (Shannon/Munster)* Ryan Baird (Dublin University/Leinster)(27) Finlay Bealham (Corinthians/Connacht)(51) Jack Boyle (UCD/Leinster)(2) Thomas Clarkson (Dublin University/Leinster)(6) Gavin Coombes (Young Munster/Munster)(2) Max Deegan (Lansdowne/Leinster)(2) Cormac Izuchukwu (Ballynahinch/Ulster)(1) Alex Kendellen (UCC/Munster)* Gus McCarthy (UCD/Leinster)(4) Paddy McCarthy (Dublin University/Leinster)* Michael Milne (UCD/Munster)* Darragh Murray (Buccaneers /Connacht)* Tom O'Toole (Ballynahinch/Ulster)(16) Cian Prendergast (UCD/Connacht)(4) Stephen Smyth (Old Wesley/Leinster)* Tom Stewart (Ballynahinch/Ulster)(2) Nick Timoney (Banbridge/Ulster)(3) Backs (14): Shayne Bolton (Connacht)* Craig Casey (Shannon/Munster)(captain)(18) Jack Crowley (Cork Constitution/Munster)(24) Nathan Doak (Banbridge/Ulster)* Ciaran Frawley (UCD/Leinster)(8) Hugh Gavin (Galwegians/Connacht)* Stuart McCloskey (Bangor/Ulster)(19) Ben Murphy (Clontarf/Connacht)* Calvin Nash (Young Munster/Munster)(10) Jimmy O'Brien (Naas/Leinster)(8) Tommy O'Brien (UCD/Leinster)* Jamie Osborne (Naas/Leinster)(7) Sam Prendergast (Lansdowne/Leinster)(8) Jacob Stockdale (Lurgan/Ulster)(38) Training Panellists: James McNabney (City of Armagh/Ulster)*, Jude Postlethwaite (City of Armagh/Ulster)*, Zac Ward (Ballynahinch/Ulster)* Ireland Summer Tour Saturday, 5th July: Georgia v Ireland, Mikheil Meskhi Stadium, Tbilisi (kick off 9pm local time, 6pm Irish time) Saturday, 12th July: Portugal v Ireland, Estádio Nacional do Jamor, Lisbon (kick off 7pm local, same Irish time)
Sky News AU
2 days ago
- Climate
- Sky News AU
‘Inside day': ‘Wintery chill' affecting eastern states and storms continue across the west
Sky News Meteorologist Alison Osborne provides a weather update, saying 'wintery' conditions are affecting the country. 'It is very much an inside day for many Australians,' Ms Osborne said. 'With storms continuing across the west and a wintery chill and southerly pushing in across all eastern states.'
Winnipeg Free Press
2 days ago
- General
- Winnipeg Free Press
B.C. opening 18 long-term involuntary care beds in Metro Vancouver
British Columbia's government has created 18 new beds at a Metro Vancouver mental health facility dedicated to long-term involuntary care. Health Minister Josie Osborne says the new beds at Alouette Homes in Maple Ridge, B.C., are designed for people needing involuntary care under the Mental Health Act outside the justice system. Osborne also says the government is now reviewing the act itself to identify possible service gaps and potential solutions. The announcement comes after the province announced in April the opening of a 10-unit involuntary-care facility for people with addiction and mental health issues at the Surrey Pretrial Centre. The Surrey facility is meant to treat people in jail who have a combination of mental health challenges, brain injuries and addiction concerns. B.C. Premier David Eby said at the time that the unit was meant to stop people continually cycling through the justice system without getting better. Dr. Daniel Vigo, B.C.'s chief scientific adviser for psychiatry, toxic drugs and concurrent disorders, says the care offered by Alouette Homes will be the first of its kind in the province. Vigo says the new beds provide an alternative to the current setup, where patients are 'stuck in high-security hospital units indeterminately' because of a lack of other options. Osborne says the first people to use the new beds will move in as early as next week. This report by The Canadian Press was first published June 3, 2025.
Hamilton Spectator
3 days ago
- Business
- Hamilton Spectator
Court approves sale of Hudson's Bay trademarks to Canadian Tire
TORONTO - Canadian Tire Corp. Ltd.'s historic purchase of Hudson's Bay trademarks will go ahead after an Ontario judge granted permission for the deal. Judge Peter Osborne says the $30-million deal was the best possible outcome given the circumstances facing the Bay. The deal will give Canadian Tire rights to the Bay name, its coat of arms and its iconic stripes. Court documents have also shown the deal includes the Bay's Distinctly Home brand, its Hudson North apparel line, trademarks like 'Bay Days' and the Zellers catchphrase 'lowest price is the law' as well as a contract with Pendleton Woolen Mills, an Oregon-based blanket and clothing maker. The sale to Canadian Tire was the buzziest matter Osborne presided over Tuesday. At the same court hearing, he also approved a receivership application for a joint real estate venture Hudson's Bay was part of and made a declaration helping employees receive funding to recover from the collapse of their employer. The approvals came months after Canada's oldest company filed for creditor protection and days after it closed all 96 of the stores it ran under its Bay and Saks banners on Sunday. Osborne called the weekend closures 'a milestone, albeit an unhappy one' that amounts to 'the end of an era.' Hudson's Bay has said the sale and closures were necessary because the 355-year-old company was not able to attract an investor to keep some semblance of the current business alive. Canadian Tire, which also owns SportChek, Party City, Mark's and Pro Hockey Life, wound up being the winner of the Bay's trademarks after the ailing company and its advisers invited 407 people and firms to bid on the intellectual property and other assets. Ashley Taylor, a lawyer for Hudson's Bay, told Osborne that 17 bids were received. Thirteen were for intellectual property but Canadian Tire's was superior, he said. 'The Canadian Tire transaction represents the highest and best process offer resulting from a competitive process,' Taylor said. What precisely gave Canadian Tire the edge is contained in a document Taylor has asked the court to seal because it contains commercially sensitive information, including the amounts offered by the next highest bidders. Osborne granted the request. The Canadian Tire deal is the first of several Taylor is expected to ask a court to approve. He said Hudson's Bay will eventually return to court to get approval for B.C. mall owner Ruby Liu to take over up to 28 Bay leases to develop a new department store. That deal needs the support of landlords. He also teased that two other deals concerning some of the other properties the Bay used will be announced soon. The Canadian Tire deal was being discussed at a hearing that spanned several issues, including a joint real estate venture the Bay has with RioCan Real Estate Investment Trust. The venture has leases for 12 properties the department store used, but RioCan wanted to put the partnership into receivership to protect its stakeholders and maximize the value it can recover. Receivership is a process allowing a third-party to take control of a company's assets, oversee their liquidation and repay creditors. Joseph Pasquariello, a lawyer for RioCan, wanted FTI Consulting Canada appointed as the receiver because his client's 'dollars are on the line' and it wants timely solutions. Osborne approved Pasquariello's request, saying it was 'just and convenient.' Osborne also recognized Hudson's Bay as the former employer of all the department store's workers who have been terminated. The declaration allows Bay's 9,364 staff, including more than 8,300 who have already lost their jobs, to recoup money they may be owed from the retailer under the Wage Earner Protection Program Act. People who qualify under the federal program can earn up to $8,844.22 this year. This report by The Canadian Press was first published June 3, 2025. Companies in this story: (TSX:CTC.A, TSX:REI-UN)
