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Stock market today: Wall Street drifts as it heads toward the close of another winning month

Published Fri, 07 Feb 2025 16:43:07 GMT

NEW YORK (AP) — Stocks are drifting Monday as Wall Street rolls toward the close of another winning month.The S&P 500 was virtually unchanged in early trading and on track for a fifth straight month of gains, which would be its longest streak in nearly two years. The index is still close to its highest level in nearly 16 months after rallying on hopes cooling inflation will mean the economy can avoid a long-predicted recession.The Dow Jones Industrial Average was also flipping between modest gains and losses and was up 13 points, or less than 0.1%, as of 10 a.m. Eastern time. The Nasdaq composite was 0.1% lower.To be sure, critics have been saying Wall Street’s seemingly growing consensus for a soft landing for the economy has come too quickly. Several reports this upcoming week could poke holes in the theory that inflation will keep coming down enough for the Federal Reserve to not only stop hiking interest rates but to begin cutting them early next year.High rates undercut inf...

Stellantis, LG begin hiring staff for future Windsor electric vehicle plant

Published Fri, 07 Feb 2025 16:43:07 GMT

WINDSOR, Ont. — Stellantis and LG Energy Solutions say they have kicked off hiring for their future Windsor, Ont., electric vehicle battery factory.Their joint venture known as NextStar Energy began recruiting 130 new employees who will form a launch team for the $5 billion plant due to open next year.NextStar says the initial 30 job openings will seek staff to begin and grow operations, while 100 more will form a group of engineers and technicians.The engineers and technicians will begin an international training program in October meant to teach them how to run a large-scale lithium-ion battery plant like existing plants in Poland, China and South Korea.NextStar stopped construction on the plant in May in a bid to get the federal government to match the production incentives the United States would offer under its new Inflation Reduction Act.The automaker reached a new deal in July with Canada and Ontario that will see Stellantis receive performance incentives of up to $15 billion...

Pan American Silver sells $593M in South American assets in trio of deals

Published Fri, 07 Feb 2025 16:43:07 GMT

VANCOUVER — Pan American Silver Corp. says it has reached several deals to sell some of its South American assets for a combined US$593 million.The Vancouver-based mining business says it has signed an agreement with Glencore International AG to sell its 56.25 per cent interest in its Mara project located in Catamarca, Argentina.Glencore will pay US$475 million in cash for the stake and will grant Pan American a life-of-mine copper net smelter return royalty of 0.75 per cent.The company has also struck a US$25 million agreement with Peruvian mining company Alpayana S.A. to sell its 92.3 per cent stake in its Compañia Minera Argentum S.A., Pan American’s Peruvian subsidiary which owns a Morococha mine.Pan American’s final deal was reached with Rio Tinto Mining & Exploration Ltd. Agencia en Chile SPA, which will acquire a 57.75 per cent interest in a company with operations in northern Chile.Rio Tinto will pay US$46 million and will grant Pan American a net smelter roy...

Locals vow to keep fighting to save a forest in southwest Turkey after the chainsaws finish work

Published Fri, 07 Feb 2025 16:43:07 GMT

ISTANBUL (AP) — Campaigners fighting to protect woodlands earmarked for coal-mining in southwest Turkey on Monday pledged to maintain their fight as tree-felling came to an end.Locals have held a four-year vigil in Akbelen forest to hold off logging that paves the way for a lignite mine near the village of Ikizkoy in Mugla province.Chainsaw teams that arrived to start felling trees a week ago have now finished their work, following violent confrontations between police dispatched to guard the operation and residents.“They massacred our forest,” Nejla Isik, from the Ikizkoy Environment Committee, said at a meeting with lawyers reported by the Duvar newspaper.“They destroyed our trees, which we have been protecting for four years, in eight days. As residents of Ikizkoy, we do not break our promise until the end. We will fight to the last drop.”The protest at Akbelen is the latest stand-off in Turkey between environmentalists and developers uprooting green areas for mines, quarries and...

Michigan court affirms critical benefits for thousands badly hurt in car wrecks

Published Fri, 07 Feb 2025 16:43:07 GMT

DETROIT (AP) — People who were catastrophically injured in car wrecks before the summer of 2019 can continue to bill insurance companies for ongoing care, the Michigan Supreme Court said Monday in a decision that provides critical relief for thousands of people.For decades, people injured in crashes were entitled to lifetime payment for “all reasonable charges” related to care and rehabilitation. But a new state law set a fee schedule and a cap on reimbursements not covered by Medicare. Suddenly, benefits were at risk for roughly 18,000 people.In a 5-2 opinion, the Supreme Court said a “vested contractual right” to ongoing benefits “cannot be stripped away or diminished,” especially when lawmakers failed to declare an intent to do so when they changed the law.In an effort to lower Michigan’s insurance rates, which were among the highest in the U.S., the Republican-controlled Legislature and Democratic Gov. Gretchen Whitmer agreed to sweeping changes in 2019.Ed White, The Associated ...

Man charged after 50-year-old man stabbed: CPD

Published Fri, 07 Feb 2025 16:43:07 GMT

CHICAGO -- A Chicago man is facing charges after a 50-year-old man was stabbed and another was severely battered in West Lawn Saturday.John Lasso is facing a felony of aggravated battery and deadly use of weapon and another misdemeanor of battery. Woman killed, 8 others injured in shooting at party on West Side Lasso, 45, was arrested Saturday evening and was identified as the man who moments earlier stabbed a 50-year-old man and battered another man, 24, in the 6300 block of South Killin Avenue. Lasso was placed into custody and charged accordingly.

NASA warns Chicago area residents of 'very loud' jet flyover for data research

Published Fri, 07 Feb 2025 16:43:07 GMT

CHICAGO — If you hear a loud noise from a jet Monday or Tuesday it may be due to a NASA research project.According to a news release, NASA's Armstrong Flight Research Center’s DC-8 aircraft will fly at a low-altitude over the Chicago area on Monday "and/or" Tuesday from mid-morning to mid-afternoon.The project measures atmospheric emissions and reactions observed from megacities to marine areas. NASA said while it will be flying low, all flyovers will be conducted at a safe altitude. However, the agency said it will be "very loud" and those with sensitivities to loud noises should be aware. Monday Forecast: Temps in low 80s with mostly sunny conditions The aircraft will be collecting data for air quality and sources of pollution.To follow the plane, visit flightaware.com and enter the tail number "N817NA"

New income-driven student loan repayment plan available to borrowers

Published Fri, 07 Feb 2025 16:43:07 GMT

(The Hill) -- The Department of Education released a beta website on Monday for the Biden administration's new income-driven student loan repayment plan, known as the Saving on a Valuable Education (SAVE) plan. “A beta version of the updated [Income-Driven Repayment (IDR)] application is now available and includes the option to enroll in the new SAVE Plan – the most affordable repayment plan yet,” the department said on the site.Previously, the administration had numerous IDR options for borrowers, which advocates have said led to a confusing system for borrowers.The new SAVE plan will replace the Revised Pay As You Earn Repayment (REPAYE) plan, one of the most widely used out of the four IDR options available to borrowers. The other three IDR plans will be phased out by the department or limited in the future.The SAVE plan will make three significant changes this year compared to the REPAYE option. The first raises the income exemption from 150 percent above the poverty line to 225...

'Humiliating': Mom, son with autism thrown out of NJ theater for using ladies' room

Published Fri, 07 Feb 2025 16:43:07 GMT

HAZLET, N.J. (WPIX) - A New Jersey family is suing a movie theater chain after the mother and her son, who has autism, were thrown out.Their offense? The mother took her son into the women's restroom when he needed to go to the bathroom.“All this time, it was humiliating and scary for my son,” Christine Gallinaro, of Holmdel, told WPIX.It was supposed to be a fun trip to the movies for Gallinaro and her 15-year-old son, John.Gallinaro‘s husband wasn’t with them, so when John, who is nonverbal, had to go to the bathroom, she took him into the ladies' room at Cinemark‘s Hazlet 12. There was no family restroom. Fatal stabbing at BK gas station investigated as possible hate crime: NYPD Gallinaro said no one in the ladies' room complained. She said many understood that her son has special needs and needed an adult to help him. But the theater manager let her and her son know she disapproved.“I asked her if there was a problem. I explained that he was disabled, and she said a grown man ...

Florida judge tosses $5 million lawsuit over microwavable mac and cheese

Published Fri, 07 Feb 2025 16:43:07 GMT

HIALEAH, Fla. (WFLA) — A federal judge in Florida has thrown out a multi-million dollar lawsuit involving microwavable mac and cheese.The $5 million lawsuit claimed the Kraft Heinz Food Company misled the public about the time it takes to prepare Velveeta microwavable mac and cheese cups. Incandescent light bulb ban goes into effect next week According to court records, a West Palm Beach-based law firm filed the lawsuit on behalf of a woman from Hialeah, Florida, on Nov. 18.The lawsuit alleged that the Kraft Heinz Food Company violated federal law by saying the mac and cheese cups take 3½ minutes to prepare, arguing that the time limit does not include the time it takes to remove the lid, add water and stir in the cheese sauce.The lawsuit had claimed Amanda Ramirez bought the product for a “premium price” of $10.99 “between October and November 2022, among other times.” However, it did not say how long it actually took Ramirez to prepare the mac and cheese.The...