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Do you need a prenup?

Published Fri, 22 Nov 2024 00:51:56 GMT

By Dalia Ramirez | NerdWalletPrenuptial or premarital agreements, often called “prenups,” have a reputation for being a tool the ultra-wealthy use to protect their assets. But as marriages have evolved, so have prenups — and they might have more uses than you think.Prenups can give couples an opportunity to communicate about their finances and establish a clear framework for the division of property and responsibilities in case of separation, divorce or even the distribution of one partner’s estate.True, it’s not very romantic to prepare for the worst while you’re in a state of premarital bliss. However, marriage is one of the most significant contracts you can enter, and legal proceedings such as divorce and probate can be so costly and time-consuming that a prenup may be better to have and not need than to need and not have.Prenups can ensure that you, your partner and even your children are in the best possible financial position no matter what happens. Here’s how to know if you ...

After Supreme Court curtails federal power, Biden administration weakens water protections

Published Fri, 22 Nov 2024 00:51:56 GMT

By MICHAEL PHILLIS, MATTHEW DALY and JOHN FLESHER Associated PressWASHINGTON (AP) — The Biden administration weakened regulations protecting millions of acres of wetlands Tuesday, saying it had no choice after the Supreme Court sharply limited the federal government’s jurisdiction over them.The rule would require that wetlands be more clearly connected to other waters like oceans and rivers, a policy shift that departs from a half-century of federal rules governing the nation’s waterways.Environmental Protection Agency Administrator Michael Regan said the agency had no alternative after the Supreme Court sharply limited the federal government’s power to regulate wetlands that do not have a “continuous surface connection” to larger, regulated bodies of water.Justices boosted property rights over concerns about clean water in a May ruling in favor of an Idaho couple who sought to build a house near a lake. Chantell and Michael Sackett had objected when federal officials required them ...

BMO earnings hit by severance, legal costs as it focuses on containing expenses

Published Fri, 22 Nov 2024 00:51:56 GMT

TORONTO — BMO Financial Group’s third-quarter profit took a hit in part from severance costs and rising provisions for bad loans as the bank prepares for an extended stretch of economic strain.“As we look ahead, we’re all aware of the macro headwinds facing the industry,” said chief executive Darryl White on an analyst call Tuesday.“These external forces are influencing the environment we’re all operating in, and I believe they could persist for some time to come.”Those headwinds include high interest rates that are slowing some lending demand and deal-making, heavy competition among Canadian banks on mortgage rates, and wider concerns about a general economic slowdown.Given the challenges, White said the bank was accelerating its efficiency push and focused on disciplined expense and risk management.Costs related to layoffs totalled $223 million pre-tax in the quarter, though the bank did not disclose the number of employees let go. BMO isn...

Ottawa eyes relaxing rules for imported baby formula, as costs soar after shortage

Published Fri, 22 Nov 2024 00:51:56 GMT

OTTAWA — The federal government is looking for ways to bring more infant formula products to Canada while it overhauls regulations to prevent future shortages, an internal memo shows. Many parents still struggle to find the right formula for their babies at a reasonable price, after last year’s temporary shutdown of a U.S.-based manufacturing plant caused a major shortage of shipments to Canada.The bare shelves illustrated just how fragile Canada’s supply chain is when it comes to vital infant formula, which Canada does not produce domestically. The government is expected to reveal its long-term plans to deal with the problem this fall as part of an overhaul of outdated rules that govern how Canada approves infant formula products.Those changes could take years, though, so the government is considering a stopgap that would see the health minister exempt products from certain requirements.“This would allow harmonization with other jurisdictions before the comprehens...

Zimbabwe opposition party calls for fresh elections supervised by neighboring countries

Published Fri, 22 Nov 2024 00:51:56 GMT

HARARE, Zimbabwe (AP) — Zimbabwe’s main opposition party on Tuesday demanded fresh elections supervised by neighboring countries, digging in on its rejection of last week’s polls that saw President Emmerson Mnangagwa win re-election and his long-ruling ZANU-PF party retain its majority in a vote criticized by international observers.Gift Siziba, the deputy spokesman for the Citizens Coalition for Change party, told reporters at a news conference in the capital, Harare, that the party will “not settle for less.”“There is no alternative to a fresh and proper election … as an exit out of the vicious cycle of disputed elections,” Siziba said. “We are calling upon our African brothers to help facilitate, mediate and guarantee a process that will lead to our return to legitimacy.”He said his party rejected the election “in its entirety.”Siziba declined to say whether the CCC has told the Southern African Development Community (SADC) and the African Union, the regional bodies which s...

Ontario elementary teachers reject government’s arbitration offer ahead of strike vote

Published Fri, 22 Nov 2024 00:51:56 GMT

The union representing thousands of Ontario elementary teachers says it is not interested in the same deal that its secondary school counterparts have agreed to.The Elementary Teachers’ Federation of Ontario (ETFO) has rejected the Ford government’s arbitration offer, the union says it will instead apply for conciliation with the Minister of Labour.“Over the past year, ETFO’s central bargaining team has attempted to resolve key issues to secure a fair deal for its teacher, occasional teacher, and education worker members. But after a full year of bargaining without sufficient progress and negotiations at a standstill, the Federation is filing for conciliation,” says ETFO President Karen Brown.“Our members have been incredibly patient, but their patience has run out.”The possibility of work-to-rule or a strike remains in public elementary schools this fall. They reject an offer from the province that would include binding arbitration. For mor...

Jully Black, Director X among the first honourees of 2023 Legacy Awards

Published Fri, 22 Nov 2024 00:51:56 GMT

TORONTO — Singer Jully Black, filmmaker Director X, actress Tonya Williams and pop artist Lu Kala will be among the recipients of The Black Academy’s 2023 Legacy Awards next month.The event honouring the accomplishments of Black Canadians in film, television, music, sports, and culture is set to return for its second year on Sept. 24, airing on CBC and CBC Gem.Juno Award winner Black will be presented with this year’s Icon Award, acknowledging her global influence and lasting popularity.Filmmaker Julien Christian Lutz, professionally known as Director X, will be honoured with the Trailblazer Award for his influential contributions to music videos and visual esthetics. Largely recognized for her role as Dr. Olivia Winters in the TV soap opera “The Young and the Restless,” award-winning actress and activist Williams will receive the Visionary Award for her philanthropic work. In 2020, she created Access Reelworld, a national database and job board for diverse Canadian tale...

Switzerland indicts Algerian ex-minister for alleged crimes against humanity during 1990s insurgency

Published Fri, 22 Nov 2024 00:51:56 GMT

GENEVA (AP) — Swiss federal prosecutors said Tuesday they have indicted a former Algerian defense minister, now aged 85 and reportedly “on his deathbed,” for his alleged role in crimes against humanity during the bloody insurrection in the North African country in the 1990s. The Swiss attorney general’s office accuses former Gen. Khaled Nezzar of violating the laws of armed conflict under the Geneva Conventions, alleging that he knew of or willingly condoned, coordinated and encouraged activities such as torture, extra-judicial executions, arbitrary detention and physical assaults between 1992 and 1994.Nezzar’s lawyers said he contested the claims, and said he spoke out against torture in particular as early as the 1990s. “The case file doesn’t make it possible to establish either that Gen. Khaled Nezzar ordered or gave assistance to abuses held against him, or even that he was informed about them or refrained from acting to prevent them,” Caroline Schumacher...

Oklahoma bank and the Justice Department propose settlement of redlining allegations around Tulsa

Published Fri, 22 Nov 2024 00:51:56 GMT

The U.S. Department of Justice and a northeastern Oklahoma bank have announced a proposed agreement to settle claims that the bank discriminated in lending to Blacks and Hispanics in the Tulsa area. Collinsville-based American Bank of Oklahoma used the illegal practice known as redlining in majority-Black and Hispanic neighborhoods in the Tulsa area, including the area of the 1921 Tulsa Race Massacre, according to the Justice Department.The proposed consent agreement filed in federal court in Tulsa on Monday is pending court approval and calls for ABOK to provide $1.15 million in credit opportunities in neighborhoods of color in the Tulsa area.“This agreement will help expand investment in Black communities and communities of color in Tulsa and increase opportunities for homeownership and financial stability,” Assistant Attorney General Kristen Clarke of the department’s Civil Rights Division said in a statement.“Remedial provisions in the agreement will open up opportunities ...

WATCH LIVE | Procession for CFD lieutenant who died following Northwest Side fire earlier this month

Published Fri, 22 Nov 2024 00:51:56 GMT

CHICAGO —A Chicago firefighter with over 25 years on the job has passed away following a house fire earlier this month, the Chicago Fire Department reports.Lt. Kevin Ward was one of three firefighters injured in a blaze Aug. 11 in the 8300 block of West Balmoral near O'Hare. A mayday call was issued during the fire and Ward was transported in critical condition. Two days later, CFD said he was making improvements at Loyola Medical Center but remained in serious condition. Previous: 3 firefighters injured following Northwest Side house fire Ward, 59, was surrounded by family at the time of his death. He joined the department in 1996.Ward's death is the third line-of-duty death the department has dealt with in 2023. In the same week in April, CFD lost Jermaine Pelt, 49, and Jan Tchoryk, 55, in separate fires."On behalf of the City of Chicago, I offer my sincerest condolences on the passing of Chicago Fire Department Lieutenant Kevin Ward. I pray for th...