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Stock market today: Wall Street slumps as pressure rises again from bond market

Published Mon, 16 Dec 2024 20:50:16 GMT

NEW YORK (AP) — Wall Street is sinking Thursday, despite a blowout profit report from Nvidia, after some mixed reports on the U.S. economy. The S&P 500 was 0.9% lower in late trading after erasing an earlier gain. It’s back to sinking in what’s been a rough August after regaining some ground earlier in the week. The Dow Jones Industrial Average was down 254 points, or 0.7%, at 34,221, as of 3 p.m. Eastern time, and the Nasdaq composite was 1.2% lower.Stocks fell as Treasury yields stabilized following their tumble a day earlier. High yields in the bond market have been upping the pressure because they make investors less willing to pay high prices for stocks and other risky investments. They may be set to go even higher, depending on what the head of the Federal Reserve says in a speech scheduled for Friday.The yield on the 10-year Treasury rose to 4.23% from 4.20% late Wednesday. It fell there from 4.33% a day before, close to its highest level since 2007. Yields found some tra...

Bubble trouble: Massive foam blob shocks residents in North York park

Published Mon, 16 Dec 2024 20:50:16 GMT

It’s not every day you’re out walking and come across a massive blob of foam emerging from a sewer, but that’s exactly what some North York residents witnessed on Wednesday.CityNews heard from concerned locals about a significantly large chunk of foam in Earl Bales Park and near Don River Boulevard.One tipster said two foam blobs, described as being about 20 feet across in length, popped up in those areas on Wednesday evening, much to the shock of park-goers.A City of Toronto spokesperson confirmed with CityNews through Toronto Water that the foamy substance originated from a sanitary sewer through Apollo Health and Beauty Care’s manufacturing facility. The culprit: likely liquid soaps.One resident shared a photo of the foam blob at Earl Bales Park in North York on Wednesday, August 24, 2023. Photo: CityNews submission/Alan E.“The company is a developer of beauty care products, which include liquid soaps,” the spokesperson told CityNews. “Th...

ISIS documentary ‘Rojek’ selected as Canada’s contender for Oscar nomination

Published Mon, 16 Dec 2024 20:50:16 GMT

TORONTO — A documentary that features interviews with imprisoned Islamic State members will be Canada’s contender for a nomination in the best international feature film category at next year’s Academy Awards.Telefilm Canada announced today that it would submit Zaynê Akyol’s film “Rojek” for consideration.The film follows the Montreal-based filmmaker’s exchanges with Islamic State members and their wives who are seeking to establish an Islamic form of government.Faced with the extremist ideology of jihadists, the film charts the origins, ascension, and decline of the Islamic State group by delving into their individual stories. The film, which includes English, Arabic, French and Kurdish, combines close-up shots of ISIS members interspersed with aerial and grounded views of Syria. Should the Academy choose it, “Rojek” would mark the ninth Canadian film to secure an Oscar nomination in that category.This report by The Canadian Press was first...

Suspect stripped of pants, shoes during jewelry theft in Pickering

Published Mon, 16 Dec 2024 20:50:16 GMT

Police are searching for a suspect wanted in a daytime jewelry theft in Pickering earlier this month. Durham police say the victims were returning to their home in the area of Azalea Avenue and Burkholder Drive when they were approached by a man just after 1 p.m. on August 2 who forcibly removed jewelry from the woman. A physical altercation ensured and police say the suspect was “stripped of his shorts and shoes” before fleeing the scene on foot and getting into a vehicle, which then fled north on Burkholder Drive. The suspect is described as a Black male, between 20 and 30 years of age with a medium build. He was last seen wearing a black jacket, white socks and neon green gloves. The vehicle is described as a black Volkswagen 4-door sedan, possibly 2015-2018, with damage to the rear passenger door. Suspect vehicle wanted in jewelry robbery in Pickering on August 2, 2023. DRPS/HO

Virginia school boards must adhere to Gov. Youngkin’s new policies on transgender students, AG says

Published Mon, 16 Dec 2024 20:50:16 GMT

RICHMOND, Va. (AP) — Republican Virginia Gov. Glenn Youngkin’s new model policies for the treatment of transgender students are in line with federal and state nondiscrimination laws and school boards must follow their guidance, the state’s attorney general said in a nonbinding legal analysis released Thursday.“The Model Policies ensure that all students are treated with dignity and that parental involvement remains at the center. These policies are fully compliant with the law, and school boards across the Commonwealth should support and implement them,” Attorney General Jason Miyares, also a Republican, said in a statement.The advisory opinion from Miyares comes as a growing number of school boards across the state are responding to the administration’s guidelines, which were finalized last month after a lengthy review and deal with issues ranging from athletics to pronoun use in the classroom. The guidelines, which under state law are supposed to offer some...

Protesters hoped to ‘overwhelm’ RCMP wildfire blockade in B.C. Shuswap region: police

Published Mon, 16 Dec 2024 20:50:16 GMT

RCMP say protesters hoped to “overwhelm” a wildfire blockade on the Trans-Canada Highway in British Columbia’s Shuswap region, confronting officers late Wednesday amid some residents’ refusal to obey evacuation orders.The tensions over the evacuation orders that cover thousands of people in the region come as the directives elsewhere in B.C.’s Interior are expected to ease, with firefighters reporting good progress thanks to rain and other favourable weather.Kelowna Fire Chief Travis Whiting told a briefing the goal was for all evacuation orders in that city to be lifted Thursday, although they’re set to remain in place in West Kelowna and other communities on the other side of Lake Okanagan.In the Shuswap, to the north of Kelowna, police say in a statement that protesters challenged officers Wednesday evening, while “threats of violence” against emergency workers had prompted the Mounties to increase their presence there.Videos posted...

Foreign interference talks: Parties trade jabs for bipartisan chats from the cottage

Published Mon, 16 Dec 2024 20:50:16 GMT

OTTAWA — House leaders for the main federal parties have been working together this summer to make a public inquiry on foreign interference happen, as they put aside partisan jabs that dominated Parliament for much of the year. Alex Marland, head of the political science department at Memorial University, says the shift signals that political leaders are trying to earnestly make progress on an inquiry. Intergovernmental Affairs Minister Dominic LeBlanc is leading the negotiations, saying they are taking place throughout the summer even when House leaders are on holidays or he is at the cottage.Earlier this week Conservative Leader Pierre Poilievre reiterated that his party will remain open to negotiating terms of reference for an inquiry and who will lead it, as long as the process remains non-partisan.NDP House leader Peter Julian praised the process, saying it has prompted the Liberal government to support the idea of a public inquiry to deal with attempted foreign interference in...

Jury finds Tim Mapes guilty of perjury, attempted obstruction of justice

Published Mon, 16 Dec 2024 20:50:16 GMT

CHICAGO — After more than five hours of deliberation on Thursday, a jury has found Tim Mapes, 68, guilty of perjury and attempted obstruction of justice.Mapes, former chief of staff to former House Speaker Michael Madigan, is accused of perjury and attempted obstruction of justice. Prosecutors allege Mapes tried to block a criminal investigation of Madigan and Springfield insider Michael McClain. Defense rests in federal trial to decide whether Tim Mapes lied to protect Mike Madigan At the request of the defense for more time, Mapes will be sentenced at 9:30 a.m. on Jan. 10.Using a series of secret recordings, the government told jurors Mapes lied about his knowledge of Madigan and McClain’s political activities. In one 2018 call, when ‘MeToo’ had swept through the legislature, McClain told Mapes he disagreed with Madigan’s appointment of Maggie Hickey to investigate the mistreatment of women at the Capitol. Federal trial to decide whether ex-chief of staff lied to protect his b...

Wrongful conviction lawsuit filed on behalf of Gurnee man freed after nearly 29 years

Published Mon, 16 Dec 2024 20:50:16 GMT

Herman Williams (Image: Illinois Innocence Project)CHICAGO — Lawyers for a Gurnee man freed from a downstate correctional center following nearly 29 years of incarceration are filing a civil lawsuit on his behalf for wrongful conviction.Attorneys with Romanucci & Blandin, LLC, and Hart McLaughlin & Eldridge, LLC plan to argue that Herman Williams' wrongful conviction "was the result of a fabricated confession, manufactured and concealed evidence, and false testimony by law enforcement, public servants who had abandoned their professional and ethical obligations to falsely acquire this conviction to advance their careers." Williams was released from Sheridan Correctional Center on Sept. 6, 2022 after a Lake County judge threw out his conviction tied to the murder of his ex-wife, Penny Williams. Williams' body was found in a Waukegan pond near the Midlane Country Club on Sept. 26, 1993. PREVIOUS COVERAGE: Gurnee man freed after 1994 murder conviction tossedProsecutors at the t...

Chicago files lawsuit against Kia, Hyundai over rise in car thefts

Published Mon, 16 Dec 2024 20:50:16 GMT

CHICAGO — The City of Chicago has filed a lawsuit against Kia and Hyundai over a rise in car thefts since last year.The complaint was filed in the Circuit Court of Cook County and alleges the auto corporations failed to equip their cars sold in the U.S., between 2011 and 2022, with anti-theft technology.It alleges that Kia and Hyundai "deceptively assured" consumers that these vehicles possessed “advanced” safety features, despite knowing about the defect and its consequences.The defect was made popular on TikTok — which shows how people can start some Kia and Hyundai models by using only a screwdriver and a USB cable.According to Chicago officials, thefts of Kia and Hyundai vehicles in the city surged from about 500 in the first half of 2022 to more than 8,350 during the second half of the year. They said so far in 2023, thefts of Kia and Hyundai vehicles comprise more than half of all vehicles stolen in Chicago.In March, Illinois Attorney General Kwame Raoul urged Kia and Hyundai ...