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Nuvei CEO and chair Philip Fayer acquires shares in company

Published Tue, 18 Feb 2025 21:43:37 GMT

MONTREAL — Nuvei Corp. says chief executive and chair Philip Fayer has acquired more shares in the company.The Montreal-based payment technology company says Fayer has acquired 22,151 subordinate voting shares though the settlement of vested restricted share units.It says Fayer now holds beneficial ownership of, or has control or direction over, 27,857,328 multiple voting shares or 36.6 per cent of the issued and outstanding multiple voting shares, as well as 22,151 subordinate voting shares.He also has equity awards to acquire up to 3,417,108 subordinate voting shares.Fayer is the founder of the company.Nuvei shares closed down $1.01 at $21.12 Wednesday on the Toronto Stock Exchange.This report by The Canadian Press was first published Sept. 20, 2023.Companies in this story: (TSX:NVEI)The Canadian Press

New Jersey fines PointsBet for 3 different types of sports betting violations

Published Tue, 18 Feb 2025 21:43:37 GMT

ATLANTIC CITY, N.J. (AP) — The online sports betting company PointsBet committed three different types of violations of New Jersey sports betting laws, according to gambling regulators who fined the company $25,000.The fine was imposed on Aug. 23, but details of the case were not released by the New Jersey Attorney General’s Office until Tuesday, nearly two weeks after The Associated Press requested them.According to a posting on the web site of the state Division of Gaming Enforcement, the agency reached a settlement with PointsBet under which the Denver-based company was to pay a $25,000 fine.PointsBet declined comment on Wednesday.One aspect of the fine involved the company accepting so-called “pre-match” bets in August 2021 on games that had already begun. All five bets came from one customer, who wagered $13,500 and received $28,275.After discovering the error, the bets were voided and the money from the customer’s initial bets was returned, according to the gaming ...

U.S. stocks slump Wednesday afternoon following rate decision, TSX little changed

Published Tue, 18 Feb 2025 21:43:37 GMT

TORONTO — Weakness in energy and mining stocks outweighed strength elsewhere on Canada’s main stock index Wednesday, which lost just a handful of points, while U.S. markets fell near the end of the day after the U.S. Federal Reserve chose to hold on interest rates. Fed chair Jerome Powell said at a news conference Wednesday afternoon that he thinks the end is near for rate hikes, but the job on getting inflation down is not done.“The process of getting inflation sustainably down to two per cent has a long way to go,” Powell said. U.S. markets held in for most of the day, with the Nasdaq lagging behind, before slumping in the latter half of the afternoon. In New York, the Dow Jones industrial average was down 76.85 points at 34,440.88.The S&P 500 index was down 41.75 points at 4,402.20,while the Nasdaq composite was down 209.06 points at 13,469.13.The S&P/TSX composite index closed down 4.20 points at 20,214.69.The U.S. Federal Reserve’s widely expected rate hold ...

Stock market today: Wall Street falls after the Federal Reserve warns rates may stay higher in 2024

Published Tue, 18 Feb 2025 21:43:37 GMT

NEW YORK (AP) — U.S. stocks slumped Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S&P 500 fell 41.75, or 0.9%, to 4,402.20. The Dow Jones Industrial Average lost 76.85, or 0.2%, to 34,440.88, and the Nasdaq composite dropped 209.06, or 1.5%, to 13,469.13.The Fed held its main interest rate steady at its highest level in more than two decades, as was widely expected from its latest meeting. Officials also indicated they may raise the federal funds rate one more time this year, as the Fed tries to get inflation back down to its target of 2%. Fed Chair Jerome Powell said it’s close to hitting the peak on rates, if not there already.Perhaps most importantly for the market, Fed officials suggested they may cut rates in 2024 by only half a percentage point from where they’re expected to end this year. That’s less than the full percentage point of cuts...

Seattle City Council OKs law to prosecute for having and using drugs such as fentanyl in public

Published Tue, 18 Feb 2025 21:43:37 GMT

SEATTLE (AP) — The Seattle City Council on Tuesday adopted a controlled substance law after rejecting it earlier this summer, making the possession and public use of drugs such as fentanyl a gross misdemeanor.The council voted to approve the measure by a 6-3 vote on Tuesday, aligning the city’s code with a new state law. The ordinance allows the city’s police officers to arrest people for using drugs in public when they deem the person a threat to others. The measure also emphasizes outreach, health treatment programs and other alternatives to arrest.Supporters of the ordinance say enforcement of the law will help with public safety around the city as it and the rest of the country work to address the drug crisis of people mostly using and often overdosing on fentanyl. They say the measure could also move some people into treatment programs for substance use disorder.“This is not a perfect bill, but it’s time to get this done because every day we (don’t) there are people that ...

Pennsylvania state government will prepare to start using AI in its operations

Published Tue, 18 Feb 2025 21:43:37 GMT

HARRISBURG, Pa. (AP) — Pennsylvania state government will prepare to use artificial intelligence in its operations, Democratic Gov. Josh Shapiro said Wednesday, as states are increasingly trying to gauge the impact of AI and how to regulate it.Shapiro, speaking at a news conference at Carnegie Mellon University in Pittsburgh, said his administration is convening an AI governing board, publishing principles on the use of AI and developing training programs for state employees.Pennsylvanians will expect state government to understand AI, adapt to AI and ensure that it is being used safely in the private sector, Shapiro said.“We don’t want to let AI happen to us,” Shapiro said. “We want to be part of helping develop AI for the betterment of our citizens.”Shapiro’s administration plans to start a two-year fellowship program to recruit AI experts who can help agencies incorporate it into their operations. He said the state’s public safety agencies have already beg...

Hunter Biden must come to court in person for firearms case, judge rules

Published Tue, 18 Feb 2025 21:43:37 GMT

WASHINGTON (AP) — Hunter Biden must appear in person for a hearing where he is expected to plead not guilty to federal firearms charges that were f iled after the collapse of a plea deal in a long-running federal investigation, a judge ruled Wednesday. The president’s son had asked to appear via video conference for the hearing now set for Sept. 26, but U.S. Magistrate Judge Christopher Burke sided with prosecutors who said he should be there in person. Burke found that the court conducted initial appearance hearings over video only at the height of the coronavirus pandemic or on a very few occasions when a defendant was physically unable to be present or destitute. Biden should “not receive special treatment in this matter,” he wrote. “Absent some unusual circumstance, he should be treated just as would any other defendant in our court.” Biden is accused of lying on a form about his drug use when he bought a firearm in October 2018 — a period when he has acknowledged he was s...

Toronto Pearson Airport ranks low in customer satisfaction: study

Published Tue, 18 Feb 2025 21:43:37 GMT

Toronto and Montreal airports were near-bottom in the race for passenger satisfaction this year, according to a study by J.D. Power.The study ranks Toronto Pearson Airport second from the bottom in the category for the largest airports that see more than 33 million passengers per year.Montreal-Pierre Elliott Trudeau Airport stood third from the bottom in the next category, with passenger traffic between 10 million and 32.9 million per year.Meanwhile, airports in Western Canada ranked somewhat better in consumer satisfaction, with Calgary and Vancouver airports both at spots 10 and 17. As a whole, the report suggests overall satisfaction among all North American passengers has improved since last year despite obstacles including ongoing pilot shortages, weather-related delays and cancellations, and high passenger demands. Michael Taylor of J.D. Power says it has not been an easy year for North American airports but major capital improvements helped many of them manage the passenger ...

Senate is set to confirm 3 military nominees but GOP senator still blocking hundreds of others

Published Tue, 18 Feb 2025 21:43:37 GMT

The Senate is poised to confirm a new chairman of the Joint Chiefs of Staff Wednesday as Democrats try to maneuver around holds placed on hundreds of nominations by Alabama Sen. Tommy Tuberville over the Pentagon’s abortion policy. Tuberville has been blocking the Senate from approving military nominations in groups, frustrating Democrats who had said they would not go through the time-consuming process of bringing up individual nominations for a vote. But Senate Majority Leader Chuck Schumer, D-N.Y., reversed course on Wednesday and moved to force votes on three of the most senior nominees: Gen. CQ Brown to replace Gen. Mark Milley as chairman of the Joint Chiefs of Staff when Milley resigns on Sept. 30, as is required by law; Gen. Randy George to be Army Chief of Staff and Gen. Eric Smith, who is nominated to be commandant of the U.S. Marine Corps. Tuberville did not object to the confirmation votes, saying he will maintain his holds but is fine with bringing up the nominati...

Biden and Brazil’s Lula focus on workers’ rights while publicly playing down differences

Published Tue, 18 Feb 2025 21:43:37 GMT

NEW YORK (AP) — President Joe Biden and his Brazilian counterpart, Luiz Inácio Lula da Silva, played up their mutual affection for workers’ rights Wednesday as the leaders of the Western Hemisphere’s two largest democracies met in New York, steering clear in public about their differences on Ukraine and other matters.They announced a new partnership on supporting labor while avoiding openly discussing disagreements such as Russia’s war in Ukraine and the U.S. embargo of Cuba. In remarks to reporters, Biden and Lula were eager to display their shared goals on the sidelines of the U.N. General Assembly.Biden sought to tie the meeting to domestic matters. Long a champion of labor unions, Biden is navigating strikes in the U.S. by autoworkers, screenwriters and actors who are seeking better pay and protections in a changing global economy. He has declined the request by the United Auto Workers leader to join the picket line.“When the middle does well, everybody does well,” Biden told L...