Man arrested after convenience store on Keewatin Street robbed

A 24-year-old man is in police custody after a robbery at a Keewatin Street convenience store Tuesday afternoon.

Police said the suspect threatened a clerk with a knife and demanded merchandise.

He was arrested nearby by the Major Crimes Unit.

The man faces charges of robbery and failing to comply with a recognizance.

Merkel: Solution to Irish 'backstop' possible in 30 days

BERLIN, Aug 21 (Reuters) – German Chancellor Angela Merkel suggested on Wednesday that Britain and the EU could find a solution to the sticking point of the Irish backstop in the next 30 days, a possible signal she was willing to compromise with Prime Minister Boris Johnson.

“The backstop has always been a fall-back option until this issue is solved and one knows how one wants to do that,” Merkel said before talks with Johnson. “It was said we will probably find a solution in two years. But we could also find one in the next 30 days, why not?” (Reporting by Joseph Nasr Editing by Michael Nienaber)

European Economics Preview: UK Retail Sales Data Due

Retail sales data from the UK is due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, foreign trade data is due from Norway. In the meantime, Finland’s industrial turnover data is due.

Half an hour later, Swiss producer and import price figures are due. Economists forecast producer and import prices to drop 1.7 percent annually in July after easing 1.4 percent in June.

At 3.00 am ET, the Turkish Statistical Institute is scheduled to issue unemployment data for May. The jobless rate is forecast to drop to 12.7 percent in May from 13 percent in April.

At 4.00 am ET, Norges Bank is set to announce its interest rate decision. The bank is expected to hold its key rate at 1.25 percent.

Half an hour later, the Office for National Statistics is scheduled to release UK retail sales data. Economists forecast retail sales to fall 0.2 percent on month in July following a 1 percent rise in June.

UAE to tax e-smoking products, sweetened drinks starting 2020

CAIRO (Reuters) – The United Arab Emirates said on Wednesday it would impose a 100% “selective” tax on electronic smoking products and a 50% tax on sweetened drinks starting from January 1, 2020, state news agency WAM reported.

The decision is in line with the UAE’s commitment to implement the unified tax agreement of the Gulf Cooperation Council, WAM said.

Woman dies after being hit by vehicle in Scarborough

Toronto police say a woman has died after being hit by a vehicle in the city’s east end on Wednesday.

Emergency crews were called to the Midland Avenue and Sheppard Avenue East area at around 11:30 a.m. for reports that a pedestrian had been struck.

Police said road closures are in effect in the area.

There is no word yet if the driver remained on scene.

Suspect photo released by OPP in Simcoe distraction theft

The OPP has released photos of a suspect in a distraction theft in Simcoe.

Police say two suspects entered a grocery store on West Street on Sunday night just before closing time and selected a large amount of merchandise.

One of the suspects allegedly distracted the cashier, while the other walked past the cash register.

Then, they fled the area in a silver vehicle.

Anyone with information is being asked to contact police at 1-888-310-1122.

U.S. Mortgage Refinancings at 3-Year High, Fueled by Low Rates

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U.S. homeowners filed the most applications to refinance mortgages last week since mid-2016, as they rushed to take advantage of recent drops in rates.

The Mortgage Bankers Association, a trade group, said its gauge of applications for refinancing home loans rose 0.4% last week from the week before, reaching its highest level since July 2016. It was the fourth straight increase.

The advance came as rates for 30-year mortgages backed by Fannie Mae or Freddie Mac fell to 3.9%, the lowest since November 2016. Amid rising fears of a possible slowdown in global economic growth, borrowing costs are broadly falling.

Falling rates may also be boosting home purchases. Sales of previously owned U.S. homes increased in July to a five-month high, the National Association of Realtors said Wednesday. The median sales price increased 4.3% to $280,800.

But applications for mortgages to buy homes fell 4% last week, which helped bring overall mortgage application volume down 0.9%, according to the MBA. Overall volume has risen about 70% since the end of last year.

XFL reveals its eight teams for the 2020 season

The fledgling XFL, scheduled to begin play in February 2020, announced its eight teams Wednesday, including a franchise in the nation’s capital called the “DC Defenders.”

The seven other franchises: St. Louis BattleHawks, Tampa Bay Vipers, New York Guardians, Seattle Dragons, Los Angeles Wildcats, Houston Roughnecks and Dallas Renegades.

St. Louis is the only XFL city that doesn’t currently have an NFL team.

POWER RANKINGS: From 1-8 – the best of the XFL team names

The XFL is the second football league to try to establish itself in the NFL’s offseason. The Alliance of American Football league (AAF) launched in 2019 and folded before its first season was completed. The AAF did have decent television ratings, but it was shut down after majority owner Tom Dundon couldn’t reach an agreement to use NFL prospects.

Squad. #XFLTeamspic.twitter.com/Og4yKW07c4

On Aug. 15, the XFL signed its first player – former Oklahoma and Pittsburgh Steelers quarterback Landry Jones.

The XFL’s draft will be held in October.