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Precision Drilling meets debt reduction goal, on track to repay $500 million by 2025

Published Tue, 25 Feb 2025 12:15:24 GMT

CALGARY — Precision Drilling Corp. says its long-term debt reduction target is on track and it met its 2023 goal by shedding $152 million of debt.The Calgary-based energy services company ended the year with a cash balance of approximately $55 million and total liquidity of around $615 million.In an update posted Friday, Precision says it is exceeding pace on its long-term debt reduction goal of repaying $500 million between 2022 and 2025.It says it also returned $30 million to shareholders through share repurchases last year and plans to improve capital returns to shareholders in 2024 by increasing debt reduction and share buybacks.The company says there is strong demand for its drilling services in Canada, with an average active rig count of 63 during the fourth quarter and 74 rigs currently active. It expects its rig count to peak in the low to mid-80s during the winter drilling season.In the U.S., the company’s average active rig count was 42 in the fourth quarter and has ...

China calls for peaceful coexistence and promises pandas on the 45th anniversary of U.S.-China ties

Published Tue, 25 Feb 2025 12:15:24 GMT

BEIJING (AP) — Chinese Foreign Minister Wang Yi said Friday that the United States and China must insist on peaceful coexistence and transcend their differences like they did when they established diplomatic relations 45 years ago this week.Wang also promised that giant pandas would return to the U.S. — and specifically California — by the end of the year.“China-U.S. cooperation is no longer a dispensable option for the two countries or even for the world, but a must-answer question that must be seriously addressed,” he said.Wang struck a relatively positive note at a lavish banquet marking the anniversary with 300 guests at a hall in the sprawling Diaoyutai state guest house complex in the Chinese capital.The two countries are trying to navigate — and avoid a war — in what may be their most difficult waters since the U.S. ended official ties with Taiwan and recognized the communist government in Beijing as the government of China on Jan. 1, 1979.China’s rise as an econo...

Global food prices declined from record highs in 2022, the UN says. Except for these two staples

Published Tue, 25 Feb 2025 12:15:24 GMT

ROME (AP) — Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday.The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, was 13.7% lower last year than the 2022 average, but its measures of sugar and rice prices growing in that time.Last month, the index dropped some 10% compared with December 2022. The drop in food commodity prices in 2023 comes despite a difficult year for food security around the world.Climate effects like dry weather, flooding and the naturally occurring El Nino phenomenon, combined with fallout from conflicts like the war in Ukraine, bans on food trade that have added to food inflation and weaker currencies have hurt developing nations especially. While food commodities like grain have fallen from painful ...

Here’s a quick glance at unemployment rates for December, by Canadian city

Published Tue, 25 Feb 2025 12:15:24 GMT

OTTAWA — The national unemployment rate was 5.8 per cent in December. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the previous month in brackets):_ St. John’s, N.L. 6.7 per cent (6.7)_ Halifax 5.1 per cent (5.8)_ Moncton, N.B. 6.1 per cent (6.0)_ Saint John, N.B. 4.5 per cent (5.3)_ Saguenay, Que. 3.0 per cent (3.0)_ Quebec City 2.7 per cent (2.7)_ Sherbrooke, Que. 4.9 per cent (4.9)_ Trois-Rivières, Que. 5.4 per cent (4.4)_ Montreal 6.0 per cent (5.7)_ Gatineau, Que. 4.5 per cent (4.2)_ Ottawa 4.6 per cent (4.7)_ Kingston, Ont. 6.1 per cent (5.8)_ Belleville, Ont. 4.0 per cent (4.9)_ Peterborough, Ont. 3.4 per cent (2.3)_ Oshawa, Ont. 7.0 per cent (7.3)_ Toronto 6.7 per cent (6.6)_ Hamilton, Ont. 5.6 per cent (5.3)_ St. Catharines-Nia...

Here’s a quick glance at unemployment rates for December, by province

Published Tue, 25 Feb 2025 12:15:24 GMT

OTTAWA — Canada’s national unemployment rate was 5.8 per cent in December. Here are the jobless rates last month by province (numbers from the previous month in brackets):_ Newfoundland and Labrador 10.7 per cent (10.0)_ Prince Edward Island 8.1 per cent (8.1)_ Nova Scotia 6.0 per cent (6.8)_ New Brunswick 6.6 per cent (6.4)_ Quebec 4.7 per cent (5.2)_ Ontario 6.3 per cent (6.1)_ Manitoba 4.2 per cent (4.9)_ Saskatchewan 5.0 per cent (5.1)_ Alberta 6.3 per cent (5.9)_ British Columbia 5.6 per cent (5.3)This report by The Canadian Press was first published Jan. 5, 2024.The Canadian Press

National employment numbers for December from Statistics Canada, at a glance

Published Tue, 25 Feb 2025 12:15:24 GMT

OTTAWA — A quick look at Canada’s December employment (numbers from the previous month in brackets):Unemployment rate: 5.8 per cent (5.8)Employment rate: 61.6 per cent (61.8)Participation rate: 65.4 per cent (65.6)Number unemployed: 1,245,200 (1,240,400)Number working: 20,312,600 (20,312,500)Youth (15-24 years) unemployment rate: 11.3 per cent (11.6)Men (25 plus) unemployment rate: 5.0 per cent (5.0)Women (25 plus) unemployment rate: 4.8 per cent (4.6)This report by The Canadian Press was first published Jan. 5, 2024.The Canadian Press

Strength vs. strength for CFP title: Michigan’s stingy pass D faces Washington QB Michael Penix Jr.

Published Tue, 25 Feb 2025 12:15:24 GMT

The College Football Playoff national championship game between No. 1 Michigan and No. 2 Washington is a contrast in styles and a matchup of strength versus strength when Michael Penix Jr. faces the Wolverines’ defense.“You get a schematic, professional-style matchup and to me you get the Baltimore Ravens versus the Kansas City Chiefs,” said Fox analyst Brock Huard, who has called games for both teams this season. “The Huskies in purple masquerade as the Chiefs and the guys in blue masquerade as the Baltimore Ravens.”Michigan (14-0) is a 4 1/2-point favorite over Washington (14-0), according to FanDuel Sportsbook.WHEN WASHINGTON HAS THE BALLGetting pressure on Penix is difficult. Washington’s offensive line won the Joe Moore Award as the best group in the country and tackles Troy Fautanu and Roger Rosengarten provide excellent edge protection.When teams do pressure Penix, he is often unfazed. In the Sugar Bowl, Texas didn’t sack him once in 38 pass attempts and whi...

A new immigration policy that avoids a dangerous journey is working. But border crossings continue

Published Tue, 25 Feb 2025 12:15:24 GMT

LEHIGH ACRES, Fla. (AP) — Five years ago, Alexis Llanos and his family fled Venezuela for Colombia, escaping death threats and political persecution. The family then planned to make the dangerous and deadly journey north, through the Darien jungle leading through Panama, with hopes of eventually crossing illegally into the United States.Their plans changed when a friend mentioned a new migration program from the U.S. government that would allow them to stay put while they pleaded for a chance to come legally. It worked. After a four-month process that included medical exams and interviews with the United Nations and the U.S., Llanos, his partner and their 7-year-old girl and 3-year-old boy arrived in Florida. “It was a unique opportunity, a miracle that God prepared for me,” said Llanos, 27, during an interview with The Associated Press from his new home. “I feel blessed, grateful. … I did not want to take the risk. I would not have forgiven myself if something had happened to...

Olympic sprinter Oscar Pistorius freed after serving nearly 9 years in prison for killing girlfriend

Published Tue, 25 Feb 2025 12:15:24 GMT

PRETORIA, South Africa (AP) — Olympic sprinter Oscar Pistorius, a double-amputee who became a global star competing at his sport's highest level while running on carbon-fiber blades, was released from prison on Friday after serving nearly nine years for killing his girlfriend, the model Reeva Steenkamp.Pistorius, 37, was released early Friday from the Atteridgeville Correctional Center in Pretoria and processed at a parole office before being released to his family, Department of Corrections spokesperson Singabakho Nxumalo told The Associated Press. Nxumalo, who referred to Pistorius' release as an “operation” designed to avoid a media scramble, declined to give further details.“I can only tell you he was released this morning,” Nxumalo said.Pistorius served nearly nine years of his murder sentence of 13 years and five months for the fatal shooting of Steenkamp on Valentine’s Day 2013. He became eligible for early release having served at least half his sentence, and then was approv...

4 women injured after jeep rollover crash in Little Italy

Published Tue, 25 Feb 2025 12:15:24 GMT

CHICAGO -- Four women are in fair condition after a jeep struck a poll and rolled over in the city's Little Italy neighborhood overnight.According to police, a woman was driving a jeep at a high speed near the 800 block of West Roosevelt Road around 1:45 a.m. when she lost control of the vehicle and struck a barricade and pole. Attempted carjacking ends in crash on Northwest Side Police said the crash caused the jeep to rollover to its roof before coming to a stop. Four women, including the driver, were transported to Stroger Hospital in fair condition. There were no other injuries reported.