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Instant Pot maker seeks bankruptcy protection as sales go cold

Published Mon, 11 Nov 2024 14:12:49 GMT

The maker of Pyrex glassware and Instant Pot has filed for Chapter 11 bankruptcy protection as the company that was already struggling is stung by inflation, with Americans pulling back on spending. According to a filing with the U.S. Bankruptcy Court for the Southern District of Texas this week, Instant Brands, based outside of Chicago, has more than $500 million in both assets and liabilities. Inflation has buffeted consumers after a pandemic-fueled binge on goods for the home, but spending has also moved elsewhere as people are again able to travel, or go to restaurants and shows. And Instant Pots, which became a must-have gadget several years ago, have been disappearing from kitchens. Sales of “electronic multicooker devices,” most of which are Instant Pots, reached $758 million in 2020, the start of the pandemic. Sales had plunged 50% by last year, to $344 million. Dollar and unit sales have declined 20% from last year in the period ending in April, according to the...

Trump pleads not guilty in Miami federal court

Published Mon, 11 Nov 2024 14:12:49 GMT

MIAMI (AP) — Former President Donald Trump became the first former president to face a judge on federal charges as he pleaded not guilty in a Miami courtroom Tuesday to dozens of felony counts that he hoarded classified documents and refused government demands to give them back.The history-making arraignment kickstarts a legal process that will unfold at the height of the 2024 presidential campaign and carry profound consequences not only for his political future but more urgently for his own personal liberty.Former President Donald Trump leaves his Trump National Doral resort, Tuesday, June 13, 2023 in Doral, Fla. (AP Photo/Jim Rassol)Trump approached his arraignment with characteristic bravado, posting social media broadsides against the prosecution from inside his motorcade and insisting as he has through years of legal woes that he has done nothing wrong and was being persecuted for political purposes. But the gravity of the moment was unmistakable as he answers to&nbs...

Bunge and Viterra sign merger agreement to create global agribusiness giant

Published Mon, 11 Nov 2024 14:12:49 GMT

A US$8.2-billion merger between U.S. company Bunge Ltd. and Viterra Ltd. will create a massive global agricultural giant in an industry that has already seen a significant amount of consolidation in recent years.The deal was announced Tuesday by the Missouri-based Bunge — which is the world’s largest oilseeds processing company, operating 300 facilities  in more than 40 countries worldwide — and Viterra, which is owned by Swiss commodities giant Glencore, as well as the Canada Pension Plan Investment Board and B.C. Investment Management Corp.Under the terms of the agreement, Viterra’s shareholders will receive 65.6 million Bunge shares, valued at a total of about US$6.2 billion, and about US$2.0 billion in cash. Bunge will also assume US$9.8 billion of Viterra debt.Viterra shareholders will own 30 per cent of the combined company on a fully diluted basis when the deal closes and about 33 per cent after completion of a planned US$2-billion share repurchase plan by Bunge.V...

Wildfires force some forestry companies to pause operations: industry association

Published Mon, 11 Nov 2024 14:12:49 GMT

Wildfires across Canada are forcing some forestry companies to pause operations, particularly in Quebec. Close to five million hectares have been burned so far, and workers in some forestry communities have been evacuated, said Derek Nighbor, president and CEO of the Forest Products Association of Canada. “The impact is significant,” he said, adding, “it’s really varying across the country.” Some mills and woodlands operations across the country are unable to operate right now for safety reasons, he said.One of the companies forced to suspend operations is Montreal-headquartered Resolute Forest Products Inc. “For Resolute, we are particularly impacted by the boreal forest devastation in Quebec, where 2023 is already shaping up the be the worst year in over three decades in terms of the extent of area affected,” spokesman Seth Kursman said in an email. “Although wildfire is a natural part of forest regeneration, the unseasonal heat and ...

Astronaut Chris Hadfield working with King Charles on ‘Astra Carta’

Published Mon, 11 Nov 2024 14:12:49 GMT

TORONTO — Chris Hadfield says he’s been working with King Charles on a space sustainability plan dubbed the Astra Carta.The Canadian astronaut says the plan will explore how humans can use space and settle the moon in a different way than they have settled on Earth.Hadfield says the king reached out to him for help with the draft last summer and they plan to release it at the end of the month in London.Hadfield hopes the Astra Carta will evolve into a document that will engage many decision makers across the globe.He says it is an important initiative because it could guide some of the fundamental patterns around human and legal behaviour.Hadfield’s remarks were made at Super Session, a Toronto conference held by the Creative Destruction Lab, a non-profit helping science and tech firms.This report by The Canadian Press was first published July 13, 2023.The Canadian Press

Civil liberties, Muslim groups ask Quebec court to suspend ban on school prayer rooms

Published Mon, 11 Nov 2024 14:12:49 GMT

MONTREAL — A civil liberties group and a Muslim advocacy organization were in Quebec Superior Court Tuesday seeking to have the province’s ban on prayer rooms in public schools lifted.Lawyers for the Canadian Civil Liberties Association and the National Council of Canadian Muslims told a Montreal court the ban will cause irreparable harm if it is not suspended until a court challenge can be heard on their case’s merits.Stephen Brown, the CEO of the Muslim organization, told reporters before the hearing that since the ban was introduced in April, students have been threatened with disciplinary measures for praying at school. He said his organization has heard from a student who was mocked by a teacher for trying to find a place to pray.“We’re here today so that no child has to find a place to hide to pray at school,” Brown said. “No child should have to hide who they are because they’re afraid of being watched, threatened or mocked by school ...

Lockdown lifted at Etobicoke school after person seen with knife

Published Mon, 11 Nov 2024 14:12:49 GMT

A lockdown at an Etobicoke school was lifted after reports of a person inside the school with a knife.Police received a call at approximately 2:42 p.m. on Tuesday that a person with a knife was inside Kipling Collegiate Institute, located in the area of Martin Grove Road and the Westway.PERSON WITH A KNIFE:Martin Grove Rd and the Westway2:42 pm@ Kipling Collegiate Insitute -inside the school-school is in lockdown-unknown injuries-police on the way#GO1354417^lm— Toronto Police Operations (@TPSOperations) June 13, 2023Injuries are unknown at the time.The building has been cleared, police said.This is a developing story

Grant for emerging comics created in the name of late comedian Nick Nemeroff

Published Mon, 11 Nov 2024 14:12:49 GMT

TORONTO — A new grant for emerging comics has been created in the name of late comedian Nick Nemeroff.The Academy of Canadian Cinema & Television says the Misdirect: the Nick Nemeroff Comedy Grant will bestow $10,000 cash.It’s intended to be used for a television special, album or other comedy-related project. Submissions open in the fall.The academy notes the Juno-nominated comedian was known for his use of misdirection, wordplay and boundary-pushing comedic techniques.He died in 2022.“Nick’s comedic legacy is one of perseverance, commitment and generosity,” Nemeroff’s parents Howard and Joanne Nemeroff said Tuesday in a release.“Though we will forever be grieving his passing, we are incredibly proud to honour his qualities through this grant, providing up and coming comics a chance to pursue their dream with the same fervour Nick was known for.”  Originally from Montreal, Nemeroff was a rising star in the comedy world whose appearances included “Conan,” Just for Laughs in Mont...

Trafficking victims in London, Ont., ring held in ‘inhumane conditions’

Published Mon, 11 Nov 2024 14:12:49 GMT

The RCMP says the victims of an alleged human trafficking operation in London, Ont., were held in conditions that “bordered on inhumane.”The Mounties have said that two suspects in their 40s have been arrested and are facing numerous human trafficking charges that include withholding documents, possession of property obtained by crime and conspiracy to commit offences.They say the months-long investigation involved police forces in southern Ontario, including the Greater Toronto Area (GTA).The RCMP say search warrants were executed at businesses and residences across southwestern Ontario, aimed at dismantling a human trafficking ring that “criminally exploited” victims.They say one of the suspects also faces a sexual assault charge.Police say the suspects recruited people from abroad to work in Ontario businesses.“It is alleged that their travel documents were taken from them, they were paid sub-standard wages, and their living conditions bordered on inhumane...

Women gardening in Prince George, B.C., is bitten by coyote

Published Mon, 11 Nov 2024 14:12:49 GMT

PRINCE GEORGE, B.C. — A woman is nursing minor injuries after being bitten by a coyote while she was doing some gardening in Prince George, B.C.A statement from the B.C. Conservation Officers Service says the coyote walked up to the woman from behind and bit her.The attack happened Monday in a residential area of the city, and the service says the coyote was chased away. The service says in a statement that the woman was treated in hospital for her injuries. Conservation officers are at the site as part of the investigation. The statement says the service is asking the public to take precautions in case of wildlife encounters, including putting pets on leash, travelling in groups and carrying bear spray. This report by The Canadian Press was first published June 13, 2023. The Canadian Press