Skip to main content

Featured

TSX Slumps as Central Banks Hold Steady

  Canada’s Main Index Suffers Sharpest Drop Since May The Toronto Stock Exchange’s S&P/TSX composite index fell 169.92 points, or 0.6%, to close at 27,369.96 on Wednesday, marking its steepest single-day decline in ten weeks. The drop followed a record high the previous day, underscoring investor unease as both the U.S. Federal Reserve and the Bank of Canada opted to keep interest rates unchanged. The materials sector led the retreat, sliding 2.1% amid tumbling copper and gold prices. Financials and technology also posted losses, down 0.6% and 0.5% respectively, as eight of the index’s ten major sectors ended in the red. Market sentiment soured after the Fed’s decision to hold rates steady offered no clear timeline for future cuts, disappointing investors hoping for dovish signals. Meanwhile, the Bank of Canada maintained its benchmark rate at 2.75% for the third consecutive meeting, citing reduced risks of a global trade war. Among individual stocks, Capital Power Corp sa...

article

Toronto Police Dismantle Violent Tow Truck Crime Ring in Major Crackdown

In a sweeping crackdown on organized crime, Toronto police have arrested 20 individuals linked to a violent criminal group known as “The Union,” which allegedly sought to dominate the city’s tow truck industry through intimidation, arson, and even murder.

The arrests stem from a months-long wiretap investigation dubbed Project Yankee, launched in October 2024. Authorities laid over 100 charges, including more than 50 counts of conspiracy to commit murder. The suspects, aged 17 to 53, are believed to be high-ranking members of the organization and were apprehended across multiple cities in southern Ontario.

Police say the group used extreme violence to control towing contracts and territory, contributing to a surge in shootings and arsons across the Greater Toronto Area. In 2024 alone, 63 firearm-related incidents were tied to tow truck disputes, accounting for nearly 15% of all such cases in the city.

Among the items seized were two firearms and four vehicles—three of which were armour-plated, underscoring the group’s sophistication and preparedness for conflict. Authorities believe the arrests prevented further large-scale violence.

Premier Doug Ford responded to the news by calling for harsh penalties for those who use violence in the industry, emphasizing the need to protect law-abiding tow truck operators.

The investigation was a joint effort involving Toronto police, the Ontario Provincial Police, and regional forces in Durham and York, highlighting the widespread nature of the criminal activity and the importance of inter-agency cooperation. 


Comments

Popular Posts