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Rate of housing starts droops 3% from month before

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OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in June slowed compared with May.

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The national housing agency says the seasonally adjusted annual rate of housing starts came in at 273,841 units for June, down three per cent from 282,188 in May.

The drop came as the annual rate of urban starts fell three per cent to 257,438 units in June.

The annual pace of urban starts of apartments, condos and other types of multi-unit housing projects dropped two per cent to 197,022 units, while the rate of single-detached urban starts decreased four per cent to 60,416 units.

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Hailey Bieber is always rocking some sort of sexy outfit and that’s exactly what she did in her latest Instagram post. The 25-year-old stunned in a skintight green dress that had a corset bodice and a plunging neckline that revealed ample cleavage.

Hailey’s dress featured skinny spaghetti straps with a diamond gem on one strap. The corset bodice cinched in her tiny waist and she accessorized with a bedazzled clutch and diamond and gold earrings. She posted the slideshow of photos with the caption, “love an avocado moment.”

As for her glam, she had her hair thrown back into a high bun that’s parted in the middle. She kept a few pieces of hair out in front of her face and added gorgeous makeup. She added a subtle smokey eye and a tiny cat-eye liner. A super glossy pink lip and some dewy blush.

Hailey has been looking sexier than ever lately and just the other day she starred in a new Victoria’s Secret campaign when she wore a white bra and matching high-waisted white lace panties for the sexy photoshoot.

Hailey rocked the new T-Shirt Bra Collection 2022 campaign when she wore a white Push-Up Perfect Shapebra, a white thong, and thick, high white socks. As for her glam, she had her dark brown hair down in loose beach waves while parted in the middle. Barely any makeup except for some light brown eyeshadow and a glossy nude lip completed her look.

Another one of our favorite looks from her was when she headed to church with husband, Justin Bieber, when she showed off her long, toned legs in a pair of high-waisted cutoff denim shorts and a tiny white crop top.

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Bank of America

shares were rising Monday after the bank posted mixed second-quarter results but said net interest income could increase by as much as $1 billion in the next quarter.

Bank of America

(ticker: BAC) reported earnings of $6.2 billion, or 73 cents a share, missing Wall Street forecasts. Analysts surveyed by FactSet expected the bank to earn 75 cents a share in the second quarter. A year earlier, Bank of America earned a profit of $1.03.

Revenue increased 6% to $22.7 billion, in line with consensus estimates. Trading revenue in the second quarter, Bank of America said, rose 17% to $4.2 billion, including net debit valuation adjustment gains of $158 million.

Net interest income, or NII, jumped 22% to $12.4 billion thanks to higher interest rates and loan growth, the bank said. Noninterest income, however, declined 9%, reflecting weaker capital markets, it added.

“Solid client activity across our businesses, coupled with higher interest rates, drove strong net interest income growth and allowed us to perform well in a weakened capital markets environment,” said CEO Brian Moynihan in a press release.

The bank expects net interest income to increase by between $900 million and $1 billion during the third quarter from the second quarter, said Chief Financial Officer Alastair Borthwick in a call with investors on Monday. Management believes it could grow even faster in the fourth quarter on a sequential basis.

“The way we think about those NII increases, given the expense discipline that we have, is we expect the majority of that to fall to the bottom line,” Borthwick added.

That said, there were some signs that the bank was feeling some pressure from a slowing economy. Consumer banking net income of $2.9 billion fell 5% from the same quarter the previous year, even as revenue increased by 12%. The bank attributed the decline to increased credit loss provision expense due to a dampening macroeconomic environment. Credit loss provisions are an expense set aside to allow for uncollected loans and loan payments. Total provision for credit losses of $523 million increased $2.1 billion for the quarter, the bank said.

Investment banking fees also declined 47% to $1.1 billion from the year-ago quarter, reflecting weaker industry-wide underwriting activity this year, the bank said. Merger and acquisition activity has slowed down this year following a surge in 2021, and banks are beginning to feel the pinch. Last week.

Morgan Stanley

(

MS

) reported that investment banking revenue fell 55% from the year-ago quarter, which contributed to the bank’s earnings miss.

Shares of Bank of America were rising 2.9% on Monday to $33.20. Coming into Monday, the stock has declined 28% this year, underperforming the loss of 19% for the

S&P 500.

Write to Joe Woelfel at joseph.woelfel@barrons.com

Having recently rejoined Juventus from Manchester United, Paul Pogba gave fans a glimpse of what they can expect during a recent training session. The Serie A outfit took to social media to share a highlight of Pogba’s recent session with his teammates, where he overtook two challengers with some brilliant football, and then followed it with an outrageous backheel past an opponent. Here is the video:

The French international joined Juventus on a free transfer, having earlier also moved to the Italian giants in 2012 from United, enjoying a trophy-laden four-year stint. During his previous stint with the club, Pogba won four league and two Coppa Italia titles and then rejoined United for a then-world record of 89.3 million euros in 2016.

Also Read | Former Manchester United player reveals Cristiano Ronaldo is ignoring his calls

Having also shown his brilliance in international football, Pogba also won the FIFA World Cup with France in 2018, beating Croatia in the final. He also won the 2020-21 UEFA Nations League, playing a crucial role for France once again. Meanwhile, during his time with United, he won the 2016-17 UEFA Europa League, also ending up as runners-up in 2020-21, and clinching the 2016-17 EFL Cup. Despite initial success, Pogba’s form faltered for United due to injuries and he faced constant criticism.

Recently, Pogba’s former teammate Juventus Andrea Barzagli explained his struggles with United. Speaking to Tuttosport, he said, “In Manchester he suffered the burden of having to prove that he was worth the 105 million invested by United. From the outside, you do not perceive the pressure that a boy, however young, must endure when the expectations are very high. Or you are a player who scores 60 goals a year, otherwise it is hard to show that you are worth 105 million. That weighed a lot.”

“The player, however, is not disputed: he is still young and is one who shifts the balance. He will have a great desire to get back on track and win”, he further added.

Kartik Aaryan shared this image. (courtesy: kartikaaryan)

New Delhi:

Bollywood actor Kartik Aaryan, on Monday, revealed that he has signed a project with Sajid Nadiadwala’s production house which will be helmed by Kabir Khan. TheBhool Bhulaiyaa 2 actor took to his Instagram handle and shared a picture collage that featured him along with Nadiadwala and Kabir.

Along with the image, he wrote, “This one is very special. Super excited to embark on this exciting journey with one of my favorite filmmakers @kabirkhankk and #SajidNadiadwala Sir. @nadiadwalagrandson @wardakhannadiadwala.”

Though the details of the project have been kept under wraps, it is speculated to be a massive entertainer on a large-scale production based on true events.

Nadiadwala Grandson also shared a tweet regarding the project. It read, “Happy to announce our next, directed & jointly produced by @kabirkhankk starring @TheAaryanKartik. Going on floors early next year. Marking the coming together of #SajidNadiadwala, #KabirKhan & #KartikAaryan. This big-scale spectacle is based on a true story!”

This project is Kartik’s first big announcement following the release of his last film Bhool Bhulaiyaa 2 which had turned out to be a massive hit. It will also be his first collaboration with Nadiadwala and Kabir.

Meanwhile, apart from this project, Kartik will be next seen in Rohit Dhawan’s Shehzada opposite Kriti Sanon. It is the Hindi remake of the Telugu blockbuster Ala Vaikunthapurramuloo, which starred Allu Arjun.

Apart from Shehzada, Kartik will be seen in ‘Freddy’ opposite Alaya F. Produced by Ekta Kapoor, the film is touted to be a romantic thriller.

Kartik also has Hansal Mehta’s Captain India in his kitty. Bankrolled by Ronnie Screwvala and Harman Baweja, the film revolves around India’s most successful rescue operations from a war-torn country.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Indian rupee has declined by about 25 per cent since December 31, 2014, and is nearing 80 against the dollar, the Lok Sabha was informed on Monday.

The value of the rupee declined from 63.33 against a dollar on December 31, 2014, to 79.41 on July 11, 2022, Finance Minister Nirmala Sitharaman said in a reply quoting RBI data.

The exchange rate of the Indian Rupee against the dollar was Rs 78.94 per dollar as of June 30, 2022, Finance Minister Nirmala Sitharaman said in a written reply.

The rupee on Monday ended the session 16 paise lower at 79.98 (provisional) amid a surge in crude oil prices and unrelenting foreign fund outflows.

Global factors such as the Russia-Ukraine conflict, soaring crude oil prices and tightening of global financial conditions are the major reasons for the weakening of the Indian rupee against the US dollar, she said.

Currencies such as the British pound, the Japanese yen and the euro have weakened more than the Indian rupee against the US dollar and, therefore, the Indian rupee has strengthened against these currencies in 2022, she said.

The outflow of foreign portfolio capital is a major reason for the depreciation of the Indian rupee, she said, adding, monetary tightening in advanced economies, particularly in the United States, tends to cause foreign investors to withdraw funds from emerging markets.

Foreign portfolio investors have withdrawn about USD 14 billion from Indian equity markets in 2022-23 so far, she said.

On the impact of falling currency, she said, nominal exchange rate is only one of the factors that impact an economy.

The depreciation of a currency is likely to enhance the export competitiveness, which in turn impacts the economy positively, while the depreciation also impacts the imports by making them more costly.

The Reserve Bank of India (RBI) regularly monitors the foreign exchange market and intervenes in situations of excess volatility. It has raised interest rates in recent months that increase the attractiveness of holding Indian rupees for residents and non-residents.

Earlier this month, the RBI raised the overseas borrowing limits for companies and liberalised norms for foreign investments in government bonds as it announced a slew of measures to boost foreign exchange inflows.

The RBI increased the ECB limit under the automatic route from USD 750 million or its equivalent per financial year to USD 1.5 billion, and eased norms for foreign portfolio investments in the debt market.

The 34-year-old Krishna, who captains Fiji and has the most goals and appearances for his country, has previously turned out for ATK FC and ATK Mohun Bagan in the Indian Super League.

“I had conversations with the coach (Simon Grayson) when I was in the early stages of negotiations and he really convinced me that I would have an impact at the club,” said Krishna following the completion of formalities on his deal.

BOOM! ⚡ The Blues have secured the services of Fiji International striker and two-time #HeroISL top-scorer Roy Krishna. 🔥

Let’s go, Bengaluru! #WelcomeKrishna 🇫🇯 #WeAreBFC 🔵 pic.twitter.com/M4qT10GIwB

— Bengaluru FC (@bengalurufc) July 18, 2022

“I’ve always admired the way Bengaluru played and organized itself over the years that I’ve played in India.” Krishna is the Blues’ sixth signing of the season, following the arrivals of Javi Hernandez, Prabir Das, Faisal Ali, Amrit Gope and Hira Mondal.

After beginning his career with local side Labasa as a teenager, Krishna made his first move abroad in 2008, joining New Zealand Football Championship side Waitakere United.

In his six seasons with Waitakere, Krishna scored 55 goals in 75 appearances and picked up the NZFC Golden Boot in 2012-13.

Following a short stint at Auckland City, where he became the first Fijian to score at the finals of a FIFA tournament by netting against Raja Casablanca in a playoff of the FIFA Club World Cup, Krishna moved again, this time to Australia where he joined Wellington Phoenix.

“When we played against Bengaluru FC, they have always been a tough opponent and we knew it wouldn’t be a walk in the park. We had a different strategy when taking on BFC,” said Krishna.

From the start I’ve had a good impression of the club, but it took some time to finalize the move as I had to factor in my family.

“I’m really pleased with how well things have worked so far, and I’m glad that I don’t have to worry about taking on Bengaluru FC as an opponent, and that I get to be part of the BFC legacy.” At Phoenix, Krishna was named the Players’ Player of the Year in 2017-18, Player of the Year in 2018-19 and with 18 goals, won the A-League Golden Boot in 2018-19.

GOAL MACHINE! 🔥 #NewBlue Roy Krishna is no stranger to goals, having finished as top-scorer in the #HeroISL in two of his three seasons so far! 💯#WeAreBFC #Krishna2024 pic.twitter.com/SrYRwj57Qe

— Bengaluru FC (@bengalurufc) July 18, 2022

Krishna is the Phoenix’s all-time leading goalscorer with 51 goals, and his record of 18 goals in a single A-League season has not been matched by any other Phoenix player.

“We wanted to bring Roy to Bengaluru FC the moment we knew he was available. There were a host of clubs within the League and outside who were in the running to sign him,” said BFC Director Parth Jindal.

“We want to bring BFC back to where it belongs, and this signing is as big a statement of intent. Roy’s work ethic, eye for goal and records are phenomenal, and we’re all excited to see how he teams up with Sunil and the rest of the squad.” In his three seasons in the ISL, Krishna has 36 goals and 18 assists and was joint top-scorer in the League twice — in 2019-20 with 15 goals as ATK lifted the ISL trophy and in 2020-21 with 14 goals, as ATK Mohun Bagan reached the final.

Krishna, who is an ambassador for the Oceania Football Confederation, represented Fiji at the U-20 and U-23 levels, before making his debut for the senior national team at the 2007 South Pacific games.
His opening goal against Mexico at the 2016 Rio Olympics is Fiji’s first and only goal at an Olympic Games. With 31 goals in 45 appearances, Krishna leads the charts for goals and appearances for his country.

If the European Union hopes to compete in global politics, it can no longer afford to allow individual member states to veto the bloc’s actions, German Chancellor Olaf Scholz said in an article published by the Frankfurter Allgemeine newspaper on Sunday.

Arguing that the EU should become a geopolitical actor, the German leader highlighted the importance of unity in Europe in light of the ongoing conflict between Russia and Ukraine. He insisted it was time to put an end to the “selfish blockades” of EU decisions by individual members.

“We simply can no longer afford national vetoes, for example in foreign policy, if we want to continue to be heard in a world of competing great powers,” he wrote.

Under current EU rules, any policy decisions within the bloc must be approved by all 27 member states. However, after countries like Hungary and Slovakia held up the implementation of the EU’s sixth sanctions package against Russia due to energy concerns, some have called for the bloc’s principle of unanimity to be abandoned.

Last month, EU Commission President Ursula von der Leyen told Politico that the union should ditch the unanimity requirement in matters of foreign policy and should move to qualified majority voting. She noted that “the speed at which things happen” was too slow and that it was important for the “European voice” to be heard and seen without one single member being able to block it.

In his article, Scholz also stated that the EU had been weakened by “permanent disunity” and “permanent dissent between member states,” claiming that unity was Europe’s most important response to the “change of times.”

He suggested that one of the ways unity across Europe and other democratic countries could be achieved was if Germany “assumes responsibility for Europe and the world in these difficult times.”

Scholz noted that Germany could bring together “East and West, North and South in Europe” since it was located in the middle of the continent and was a country that “lay on both sides of the Iron Curtain.”

The chancellor added that it was important to “close our ranks” in all areas in which Europe has been struggling, such as migration policy, European defense, technological sovereignty, and “democratic resilience.”