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Labour Day train delay isolated incident, Via Rail CEO tells MPs

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OTTAWA – The head of Via Rail repeatedly told MPs a train delay over the Labour Day long weekend was an isolated incident, despite a similar event two years ago.

Mario Péloquin appeared in front of a parliamentary committee Thursday to answer to an incident between Montreal and Quebec City that stranded passengers for 10 hours as they ran out of food, water and working toilets.

MPs pressed Via Rail executives about why the incident occurred even though Via Rail made changes following similar disruptions during the 2022 holiday season.

“Although we know now that it was not a single failure but a series of events, unfortunately, the breakdown of two weeks ago reminds us of what happened in December 2022,” Péloquin said.

“While Via Rail successfully implemented the key learnings and recommendations from 2022, this most recent incident revealed significant shortcomings which we are addressing.”

“I want to reiterate that I am deeply sorry for what happened,” he said.

Péloquin said the delays in 2022 were caused by an ice storm that had caused a tree to fall on the railway, while the latest incident was due to two separate mechanical failures.

Ottawa has already told Via Rail to make changes and asked it to conduct an independent investigation into the incident.

Péloquin said the company has now implemented a new evacuation process, but it wouldn’t have done much good in the latest incident because the train was in an area where evacuation was unsafe.

Conservative MP Philip Lawrence read out a list of previous delays, and asked Péloquin whether he could “with a straight face say this was isolated.”

Péloquin said Via Rail has 20,000 departures a year and 80 per cent arrive on time or within 30 minutes, and that some of those incidents were caused by events outside of Via Rail’s control, such as suspicious packages.

This report by The Canadian Press was first published Sept. 19, 2024.

The Canadian Press. All rights reserved.



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Trump win ignites crypto frenzy that sends bitcoin to a record high

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LONDON (AP) — The price of bitcoin hit a new high Wednesday and crypto-related shares rallied as investors bet that former President Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies.

Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and smashing its previous record set in March. Other cryptocurrencies also soared, including ether, the world’s second most popular cryptocurrency after bitcoin, which rallied 8%.

Another token, dogecoin, rocketed as much as 18%. It’s the favorite cryptocurrency of billionaire Elon Musk, one of Trump’s most prominent supporters.

Crypto-related shares outran the rest of the stock market. Coinbase, one of the biggest cryptocurrency exchanges, leaped 17%. Online brokerage Robinhood Markets, which offers crypto trading, soared 12% and MicroStrategy, which says it is the “largest corporate holder of bitcoin,” jumped 10%.

Trump was previously a crypto skeptic but changed his mind and embraced cryptocurrencies ahead of the election.

He has pledged to make America “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted crypto fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.

Bitcoin is up 77% this year.

“Bitcoin is the one asset that was always going to soar if Trump returned to the White House,” said Russ Mould, investment director at AJ Bell, a British online investment platform. After touching its new high, the market is now speculating about “when, not if, it will smash through $100,000,” he said.

“Trump has already declared his love of the digital currency and crypto traders now have a new narrative by which to get even more excited about where the price could go,” Mould said.

But other experts warned of the risks.

“Investors should only dabble in crypto with money that they can be prepared to lose,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown. “Because we’ve seen these wild swings in the past.”

Crypto industry players welcomed Trump’s victory, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for.

Trump had already promised that, if elected, he would remove the chair of the Securities and Exchange Commission, Gary Gensler, who has been leading the U.S. government’s crackdown on the crypto industry.

“Tonight the crypto voter has spoken decisively — across party lines and in key races across the country,” said Coinbase CEO Brian Armstrong . “Americans disproportionately care about crypto and want clear rules of the road for digital assets. We look forward to working with the new Congress to deliver it,” Armstrong posted on X.

Streeter said Trump’s administration would most likely pursue “light touch regulation” for the crypto industry.

“Certainly that’s what crypto fans would want,” she said. “They want the sheen of legitimacy to be brought to crypto, but they don’t want regulations to be too onerous to stop opportunities and innovation.”

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Associated Press writer Danica Kirka contributed to this report.

The Canadian Press. All rights reserved.



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Students gather at Howard University to show support for Kamala Harris |

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Students gathered in a gym at Howard University to show support for Vice-President and presidential nominee Kamala Harris, who visited the campus on election day. Tyette Manna says she was excited and nervous to watch the results roll in. (Nov. 5, 2024)



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U.S. election night parties held across Canada

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U.S. election night parties held across Canada

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