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Ticker: Hyundai, Kia recall cites fire risk; Mortgage rates slide 

Published Tue, 25 Feb 2025 11:28:38 GMT

Hyundai and Kia are telling the owners of more than 571,000 SUVs and minivans in the U.S. to park them outdoors because the tow hitch harnesses can catch fire while they are parked or being driven.The affiliated Korean automakers are recalling the vehicles and warning people to park them away from structures until repairs are made.Affected Hyundai vehicles include the 2019 to 2023 Santa Fe, the 2021 to 2023 Santa Fe Hybrid, the 2022 and 2023 Santa Fe Plug-in hybrid and the 2022 and 2023 Santa Cruz. The only Kia affected is the Carnival minivan from 2022 and 2023. All have Hyundai or Kia tow hitch harnesses that came as original equipment or were installed by dealers.Owners will be notified starting May 16.Mortgage rates slideThe average long-term U.S. mortgage fell for the second straight week which, combined with moderating home prices, could give house hunters a break and the housing market a boost as the spring buying season begins.Mortgage buyer Freddie Mac reported Thursday tha...

TikTok CEO defiant under DC grilling

Published Tue, 25 Feb 2025 11:28:38 GMT

TikTok Chief Executive Shou Chew defended his company against a barrage of criticism from hostile U.S. lawmakers, repeatedly asserting the app’s independence from its Chinese owners.Chew said its Beijing-based owner, ByteDance Ltd., is mostly owned by international investors and most of its board members are American.“The bottom line is this is American data on American soil by an American company overseen by American personnel,” Chew said in an appearance Thursday before the House Energy and Commerce Committee. He could not unequivocally say that no ByteDance employees have access to that data, saying rather that he’s “seen no evidence” of that happening.Chew faced combative questioning from members of both parties — who often cut off his attempts to answer — in his first appearance before Congress. The hearing comes as lawmakers and the Biden administration are exploring how to force ByteDance to sell its shares of the unit or face a ban in the U.S.“You are here because the Americ...

Relativity Space launches 3D-printed rocket but fails to hit orbit

Published Tue, 25 Feb 2025 11:28:38 GMT

Richard Tribou | Orlando SentinelRelativity Space managed to launch its 3D-printed Terran 1 rocket from Cape Canaveral Space Force Station, but an issue with its second-stage engine prevented the ultimate goal of reaching orbit.Still, the Long Beach, California-based startup company hit several milestones on the mission dubbed “GLHF,” as in “Good Luck, Have Fun” including liftoff from the pad, hitting supersonic speeds, enduring maximum dynamic pressure, main engine cutoff and separation of the first and second stages.Video of the liftoff at 11:25 p.m. Wednesday showed the blue flame from its nine Aeon 1 engines burning into the night sky as company commentators broke out in cheers and laughter.Today’s launch proved Relativity’s 3D-printed rocket technologies that will enable our next vehicle, Terran R. We successfully made it through Max-Q, the highest stress state on our printed structures. This is the biggest proof point for our novel additive manufacturing approach.… pic.twitter...

Train derails in Ayer, spilling trash and recycling from 10 containers

Published Tue, 25 Feb 2025 11:28:38 GMT

A train derailed in Ayer on Thursday, but authorities say that its contents do not pose a threat to area residents.The Ayer Fire Department said in a Facebook post at 12:13 p.m., around 40 minutes after the initial incident reports, that the scene is an “active incident” near Sculley Road and that the “railroad cars involved do NOT contain hazardous materials.” The department said it was working with railroad crews, local police and the Ayer Department of Public works to “mitigate this incident.”By the afternoon, freight company CSX confirmed to the Herald that a freight train operated by Springfield Terminals — a Springfield-based fuel company — “derailed five rail cars carrying ten intermodal containers holding solid waste on the Pan Am Southern rail line.”The Massachusetts Emergency Management Agency clarified by around 1:12 p.m. that the “solid waste” in this case is trash and recycling.“There were no reported injuries to the crew, no hazardous materials ...

USS Theodore Roosevelt returns to San Diego

Published Tue, 25 Feb 2025 11:28:38 GMT

SAN DIEGO — The USS Theodore Roosevelt (CVN 71) has returned to San Diego following an 18-month stay in Washington.The Nimitz-class nuclear-powered aircraft carrier is returning to Naval Air Station North Island after completing a docking planned incremental availability (DPIA) at Puget Sound Naval Shipyard & Intermediate Maintenance Facility, according to U.S. Navy officials.While homeported in Bremerton, WA, Theodore Roosevelt underwent maintenance to modernize the ship's combat efficiency and ensure sustained operational readiness, a news release said. San Diego health professionals quell fears as deadly infection spreads at ‘alarming rate’ nationwide According to Navy officials, upgrades to the ship included:Expanding the ship’s air dominance capabilities to support the F-35C Lightning II, E-2D Advanced Hawkeye, and CMV-22B Osprey, as well as future platforms such as the MQ-25 Stingray unmanned aircraft system.Installation of the Mark 38 Mod III Machine Gun System and...

A thing of the past: TTC to end sale of tokens on Friday

Published Tue, 25 Feb 2025 11:28:38 GMT

The Toronto Transit Commission (TTC) will officially end the sale of tokens this week, putting an end to the long-accepted form of fare payment.The TTC announced that March 24 is the last day tokens can be purchased from any location where fares are sold. While the transit system stopped selling tokens in 2019, they were still available at select third-party retailers.The TTC has transitioned to PRESTO, which now accounts for more than 90 per cent of TTC ridership.A spokesperson says that TTC customers can continue using previously purchased tokens or tickets to pay their fares. The cost of a fare using PRESTO is the same price as a token.PRESTO cards are available at the Fare Vending Machines at all subway stations, Shoppers Drug Mart locations, online at prestocard.ca and the TTC Customer Service Centre.The TTC first introduced tokens in 1954 after being produced by the Royal Canadian Mint.While the TTC initially considered the token a time-saver, the City of Toronto said many rid...

MPs vote in favour of including invisible disabilities in national housing strategy

Published Tue, 25 Feb 2025 11:28:38 GMT

OTTAWA — Members of Parliament have voted unanimously in favour of urging the government to address the needs of people with invisible disabilities in its national housing strategy.Liberal MP Arielle Kayabaga introduced the motion, which calls on the government to include an expert on disabilities in its National Housing Council.It also asks the government to formally recognize the barriers people with disabilities face when it comes to finding a home.The 10-year national housing strategy, which is the Liberal government’s plan to address the severe shortage of affordable housing across the country, has a $72-billion price tag. Its lofty goals include lifting more than half a million families out of housing need and cutting chronic homelessness in half — though a recent report from the auditor general pointed out that the government has not collected data to show how many people are homeless in Canada and questioned how it would track that goal.The first two phases of the rapi...

Disney World reaches union deal with minimum $18 hourly wage

Published Tue, 25 Feb 2025 11:28:38 GMT

ORLANDO, Fla. (AP) — Unions for service workers at Walt Disney World reached a tentative deal with the company on Thursday that would raise the starting minimum wage from $15 to $18 an hour in a pact that could set the basement for starting pay throughout central Florida’s sprawling tourism industry.Disney World service workers who are in the six unions that make up the Service Trades Council Union coalition planned to vote next Wednesday on the contract proposal after rejecting an earlier offer that fell short of the $18 hourly minimum wage last month. The agreement covers around 45,000 service workers at the Disney theme park resort outside Orlando. Workers could see their hourly wages rise between $5.50 and $8.60 by the end of the five-year contract if it’s approved, union leaders said.“Securing an $18 minimum hourly rate this year, increasing the overall economic value of Disney’s original offer, and ensuring full back pay for every worker are the priorities un...

Most actively traded companies on the Toronto Stock Exchange

Published Tue, 25 Feb 2025 11:28:38 GMT

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (19,459.92, down 72.86):Suncor Energy Inc. (TSX:SU). Energy. Down 65 cents, or 1.58 per cent, to $40.53 on 12.2 million shares.Cenovus Energy Inc. (TSX:CVE). Energy. Down $1.16, or 5.10 per cent, to $21.58 on 10.3 million shares.TC Energy Corp. (TSX:TRP). Energy. Down 68 cents, or 1.31 per cent, to $51.30 on 9.5 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Down nine cents, or 0.37 per cent, to $24.37 on 9.1 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Down six cents, or 0.66 per cent, to $9.02 on 9.1 million shares.Toronto-Dominion Bank (TSX:TD). Financials. Down 76 cents, or 0.97 per cent, to $77.33 on 9.1 million shares.Companies in the news:Bombardier Inc. (TSX:BBD.B). Up $1.74, or 2.82 per cent, to $63.56. Bombardier Inc. has upped its financial targets for 2025, as the plane maker looks to boost production of business jets amid a gr...

Russian officials seek another opposition activist’s arrest

Published Tue, 25 Feb 2025 11:28:38 GMT

MOSCOW (AP) — A Russian court on Thursday issued an order to arrest an opposition activist on charges of disparaging the military, and auhorities declared other activists and bloggers “foreign agents” amid efforts to muzzle criticism of Russia’s action in Ukraine. Moscow’s Basmanny District Court ordered the arrest of Maxim Katz, an opposition activist and blogger who has left Russia. He is accused of spreading false information about the Russian military, charges that carry a prison sentence of up to 10 years.Days after Russian President Vladimir Putin sent troops into Ukraine last February, Russian lawmakers approved legislation outlawing the disparagement of the Russian military or the spread of “false information” about what the Kremlin calls “the special military operation” in Ukraine.Courts across the country have increasingly handed out prison terms to critics of Moscow’s actions in Ukraine.They included a prominent opposition politician, Ilya Yashin, who was sentenced ...