Hurricane recovery workers overwhelmed, bureaucrats on crypto: In the news on September 29 – Rayrice Forex News

Hurricane recovery workers overwhelmed, bureaucrats on crypto: In the news on September 29

Crews face another major rebuild in the Atlantic provinces due to post-tropical storm Fiona, and contractors are scrambling to keep up, he said. Fiona is believed to be the most powerful hurricane ever to hit Atlantic Canada.

The direct line of severe storms that hit Ontario and Quebec on May 21 was not Canada’s most powerful storm, but it was the first time a storm of that magnitude had passed through the country’s most populated corridor.

Insurance losses from that storm totaled more than $875 million, according to the Insurance Bureau of Canada, and utilities and municipalities reported millions of dollars in infrastructure repair costs.

The storm cost the City of Ottawa nearly $20 million in damage to municipal buildings, replacing 175 traffic lights and 650 traffic signals. Since September, crews have removed 450 uprooted stumps from city property but have more than 2,000 left to go.

And this is…

Senior federal bureaucrats investigated cryptocurrencies as hedges against inflation shortly after opposition leader Pierre Poilèvre staked his claim in the Conservative leadership race, according to an internal government document.

The briefing note, prepared by the non-partisan Privy Council Office and obtained by The Canadian Press through an access to information request, says cryptocurrencies lack protection against inflation and serve as a poor substitute for the Canadian dollar on a day-to-day basis. Daily transactions.

“Cryptoassets are also not restricted to protect against inflation, most of which are speculative and have a price behavior consistent with risky assets,” the document said.

In late March, Poilevre suggested during a campaign event that digital currencies could help Canadians “get out of inflation” because they are not influenced by central banks.

But over the summer, bitcoin’s price plummeted and lost more than half its value compared to the beginning of the year — a fate similar to that of other digital currencies.

The Liberals seized on Poilievre’s cryptocurrency support as a line of attack on social media and the House of Commons after he returned from summer break.

What we see in America…

ST. Petersburg, Fla. (AP) — Hurricane Ian left a path of destruction in southwest Florida, trapping people in flooded homes, damaging hospital intensive care unit roofs and knocking out power to 2 million people.

Earlier Thursday, the National Hurricane Center said Ian was expected to move over Atlantic waters later, with torrential rains expected to continue in central and northern Florida.

In Port Charlotte, the storm ripped off part of the roof of the intensive care unit and flooded the lower level emergency room at the hospital. Staff moved those patients — some on ventilators — to other floors.

The storm is expected to cause severe flooding in central Florida through early Thursday, the hurricane center said.

What we see in the rest of the world…

KYIV, Ukraine (AP) — Russia is poised to formally annex parts of Ukraine after a period of living under Moscow’s rule — a Kremlin-orchestrated “referendum” that was illegal and rigged by Kiev and the West.

Armed soldiers went door-to-door with election officials to collect votes over five days.

The results have been derided as a land grab by Russia’s leadership, which has been strengthened following a humiliating military defeat in Ukraine.

Russia has called up 300,000 reserve forces in the war and warned it could use nuclear weapons.

The president of the European Commission urged the EU’s 27 member states to impose more sanctions on Russian officials and trade in what he called a sham referendum.

On this day In the year In 1962, Canada became the third country to have a satellite by launching “Alouette 1” from Cape Kennedy, Fla. The satellite costs $3 million and weighs 146 kilograms. Before disappearing, he spent ten years studying the ionosphere at an altitude of a thousand kilometers.

In entertainment…

No one on Canada’s roster was alive when the team won a medal at the Women’s World Cup. Now the Canadians are one win away from winning one for the first time since 1986 when they captured the bronze.

Kia Nurse scored 17 points to lead a balanced Canadian team to a 79-60 win over Puerto Rico in the quarterfinals on Thursday.

Next up is Friday’s matchup against the US, who beat Serbia 88-55.

“It is always our goal to win the quarter-finals and advance to the semi-finals. “The medal rounds are where we want to be,” said Canada’s Bridget Carleton.

Have you seen this?

With Aaron Judge on the brink of baseball history, Frankie Lasagna wanted to be ready just in case the Yankees slugger hit his 61st homer of the season.

“I’ve never brought a glove other than this one,” Lasagna said. “I needed a big one.”

The 37-year-old Toronto restaurateur came close to making a historic catch in the seventh inning of last night’s game against the Blue Jays at the Judge Rogers Centre.

Lasagna streaked over the rail, but the ball hit the wall a few feet below and into the Toronto bullpen. A Yankees security official later came to collect him.

The ball — which could be big money for a collector — can only see it in the bullpen as it bounces twice before taking off.

This Canadian Press report was first published on September 29, 2022.

Canadian Press

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