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Teck Resources rejects unsolicited takeover offer from Glencore

Published Sat, 22 Feb 2025 13:16:48 GMT

VANCOUVER — Teck Resources Ltd. says it has rejected an unsolicited takeover offer from Glencore.Teck board chair Sheila Murray says it is not contemplating a sale of the company at this time. Teck announced a plan earlier this year to split the company in two, separating its steelmaking coal business from its base metals operations. Murray says the board believes the company’s plan creates a greater spectrum of opportunities to maximize value for Teck shareholders.Teck says the offer from Glencore was for 7.78 Glencore shares for each Teck class B subordinate voting share and 12.73 Glencore shares for each Teck class A share, a 20 per cent premium for both on the date of the offer. Teck CEO Jonathan Price says the proposal would expose Teck shareholders to a large thermal coal business, an oil trading business and significant jurisdictional risk, all of which he says would hurt the value potential of Teck’s business.This report by The Canadian Press was first published April ...

Harsh fines could be coming for Toronto drivers caught ‘blocking the box’

Published Sat, 22 Feb 2025 13:16:48 GMT

Steeper fines could be on the way for drivers in Toronto who get caught stuck in the middle of an intersection on a red light.It’s known as ‘blocking the box’, and the city wants to do more to crack down on it, urging the province to raise the fines for anyone who gets caught.City council has approved a motion from Deputy Mayor Jennifer McKelvie that urges the Ford government to implement higher fines. McKelvie says the bad driving behaviour is costing people time, money, and contributes to congestion.“Tying up an oncoming traffic is one of the most inconsiderate things you can do,” says McKelvie in a statement. “Depending on the intersection, you can end up blocking other drivers trying to proceed legally, riders on transit vehicles, pedestrians, and cyclists.”It's time to send a strong message that blocking the box will cost you.This week, City Council approved my push to crack down on drivers caught blocking the box and adding to cong...

Ovintiv signs deal to buy Midland Basin assets for US$4.275B, selling Bakken assets

Published Sat, 22 Feb 2025 13:16:48 GMT

CALGARY — Ovintiv Inc. has signed a deal to buy a portfolio of assets in the Midland Basin in Texas in an agreement valued at US$4.275 billion in cash and shares.The company is acquiring the assets from a group of portfolio companies of funds managed by EnCap Investments LP.Under the terms of the deal, the sellers will receive about 32.6 million shares of Ovintiv common stock and US$3.125 billion in cash. To help fund the transaction, Ovintiv says it has signed an agreement to sell its Bakken assets in North Dakota to a portfolio company of funds managed by EnCap for US$825 million.The deals are expected to close by the end of the second quarter, subject to customary closing conditions and adjustments.Ovintiv also announced it has raised its quarterly dividend by a nickel to 30 cents per share.This report by The Canadian Press was first published April 3, 2023.Companies in this story: (TSX:OVV)The Canadian Press

Ugandan forces take over east Congo town as M23 rebels leave

Published Sat, 22 Feb 2025 13:16:48 GMT

GOMA, Congo (AP) — East African regional forces have regained control of Bunagana, a strategic town in eastern Congo that had been held by M23 rebels for more than nine months, a spokesman for the regional force said Monday. Ugandan forces officially deployed to Bunagana and will establish a foothold in the area and give the M23 forces time to vacate, said Capt. Kato Ahmad Hassan, spokesman for the Ugandan contingent of the regional force. “We appreciate the command of the M23 for being cooperative to the contingent, for according us a safe passage and for allowing us to occupy Bunagana,” he said.M23 did not respond to request for comment about their departure from Bunagana. The rebels’ departure from Bunagana has been a key demand during several rounds of mediation efforts on the crisis in eastern Congo, where more than 120 armed groups have been fighting for land, power and resources and some to protect their communities.M23 rose to prominence 10 years ago when its fighters ...

17-year-old killed in Humboldt Park triple shooting

Published Sat, 22 Feb 2025 13:16:48 GMT

CHICAGO — A 17-year-old boy died following a triple shooting Sunday night in Humboldt Park.At around 6:10 a.m., police responded to the 800 block of North Hamlin Avenue on the report of a shooting.At the scene, police located a 17-year-old boy, a 16-year-old boy and a 21-year-old man suffering from gunshot wounds. The 17-year-old boy was pronounced dead at Mt. Sinai. Man struck, killed in Northwest Side intersection The other teen's condition is unknown and the 21-year-old was transported in good condition.No suspects are in custody. Anyone with information can leave an anonymous tip at cpdtip.com.

Man crashes car into home on Lower West Side

Published Sat, 22 Feb 2025 13:16:48 GMT

CHICAGO — A driver struck another car head on and crashed into a home on the city's Lower West Side Sunday night.Police say a man was driving a chevy station wagon going northbound on Paulina Street when he struck another vehicle head on. The driver continued northbound and drove into a home, crashing into the main window. He then fled the scene in an unknown direction. CPD: 14-year-old shot in the chest in Chatham According to police reports, a 26-year-old woman driving the other vehicle was transported to Stroger Hospital in good condition. No one was injured in the residence and there is currently no one in custody. Police are investigating the incident.

Couple killed, girl injured in hot air balloon fire near Mexico City

Published Sat, 22 Feb 2025 13:16:48 GMT

MEXICO CITY (AP) — Two people died and a girl was injured after the hot air balloon they were riding in caught fire near Mexico City. Officials in the state of Mexico, which borders the capital, said Saturday that the girl suffered burns and a broken arm. According to a video of the incident posted on social media, the occupants of the balloon appeared to have fallen or jumped from the craft. 15 tornadoes touchdown in Chicago area, NWS confirms The dead were listed as a male, 50, and a woman, 38. The accident occurred near the pre-Hispanic ruin site of Teotihuacan, just north of Mexico City.

WWE and UFC combine to create $21.4 billion entertainment company

Published Sat, 22 Feb 2025 13:16:48 GMT

WWE and the company that runs Ultimate Fighting Championship will combine to create a $21.4 billion sports entertainment company.A new publicly traded company will be formed that houses the UFC and WWE brands, with Endeavor Group Holdings Inc. taking a 51% controlling interest in the new company. Existing WWE shareholders will hold a 49% stake.The companies put the enterprise value of UFC at $12.1 billion and WWE's value at $9.3 billion.In this photo provided by WWE, rapper Snoop Dogg gets ready to drop The People's Elbow on Mike "The Miz" Mizanin during WrestleMania 39 on Sunday, April 2, 2023, at SoFi Stadium in Inglewood, Calif. The rapper stepped in at the last second to perform in the match after Shane McMahon was injured. (WWE via AP)The new business, which does not yet have a name, will be lead by Endeavor CEO Ari Emanuel. Vince McMahon, executive chairman at WWE, will serve in the same role at the new company. Dana White will continue as president of UFC and Nick Khan will b...

Bill S-203 Receives Royal Assent Ahead Of World Autism Day in Canada

Published Sat, 22 Feb 2025 13:16:48 GMT

Texans scammed into buying stolen vehicles on social media

Published Sat, 22 Feb 2025 13:16:48 GMT

AUSTIN (KXAN) -- Authorities in Central Texas are warning people about an online scam that is causing people to lose thousands of dollars and their vehicles. The Heart of Texas Auto Theft Task Force said people are being duped into buying stolen vehicles online with cash, and when it is later discovered the vehicle is stolen, the vehicle is also taken away. How the scam works Lieutenant Howard Stinehour with the Burnet County Sheriff's Office said the online scam started picking up during the pandemic, when people had trouble buying vehicles at car dealerships. A majority of the stolen vehicles are coming out of the Houston area, Lt. Stinehour explained. He said criminals are easily stealing vehicles because people are leaving their key fob in the car, or simply leaving the car door unlocked. Once the vehicle is stolen, criminals are creating fake I.D. cards and fraudulent car titles by using somebody else's identity. The cars are then posted online at places like Facebook Marketpla...