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Finland joins NATO, doubling military alliance’s border with Russia in a blow for Putin

Published Wed, 12 Feb 2025 19:00:35 GMT

(CNN) — Finland officially became the 31st member of the North Atlantic Treaty Organization (NATO) on Tuesday, marking a major shift in the security landscape in northeastern Europe that adds some 1,300 kilometers (830 miles) to the alliance’s frontier with Russia.The Nordic nation’s accession was sealed during a formal ceremony at the NATO headquarters in Brussels on Tuesday.US Secretary of State Antony Blinken and NATO Secretary General Jens Stoltenberg were on hand as the Minister for Foreign Affairs, Pekka Haavisto, established Finland’s accession.“Finland has today become a member of the defense alliance NATO. The era of military non-alignment in our history has come to an end. A new era begins,” the Finnish presidency said in a statement.“Each country maximizes its own security. So does Finland. At the same time, NATO membership strengthens our international position and room for maneuver. As a partner, we have long...

Mel King Services Set For Early Next Week

Published Wed, 12 Feb 2025 19:00:35 GMT

Longtime Boston activist and former state representative Mel King, who died last Tuesday at 94, will be remembered next week with a wake and funeral service in the South End. Though he lost the 1983 mayor’s race to his former House colleague, Ray Flynn, King’s groundbreaking campaign marked the first time a Black candidate advanced to the final mayoral ballot in Boston. He remained active as a community organizer. A public viewing and visitation is set for Monday, April 10 from 4 p.m. to 8 p.m., with an opportunity for “witnesses from the community” from 6:30 p.m. to 7:30 p.m. The funeral will be held Tuesday, April 11 at 12 noon. The family has invited guests to don bow ties “as a tribute to Mr. King.” Both events will take place at the Union United Methodist Church, 485 Columbus Ave., with plans to also broadcast Tuesday’s funeral on Zoom.

Massachusetts OKs $40M settlement in sergeant exam suit

Published Wed, 12 Feb 2025 19:00:35 GMT

BOSTON (AP) — Massachusetts has agreed to a $40 million settlement in a long-running case brought by police who had argued that the state’s promotional exam to attain the rank of sergeant discriminated against Black and Hispanic candidates.The agreement could affect about 600 current and former police officers and calls on the state to create a new test that better measures the skills needed to serve as a police sergeant according to the settlement filed Friday in Suffolk Superior Court.Judge Douglas Wilkins had ruled in October that the promotional exam amounted to a discriminatory process against Black and Hispanic candidates vying for police sergeant positions in departments across the state.Both sides are due back in court May 10 for a final hearing during which Wilkins is expected to decide whether to approve the settlement.Black and Hispanic Boston police officers found to be eligible for the settlement will be awarded at least $60,000 each.In communities outside Boston, where...

Should you rent in retirement?

Published Wed, 12 Feb 2025 19:00:35 GMT

Some people rent in retirement because they don’t have much choice; they can’t afford to own homes. But financial planners say renting can make more sense than owning in some circumstances, even for retirees who can afford the costs of homeownership.Renting offers flexibility as well as freedom from all the chores and expenses of maintaining a home. Renting also may provide built-in communities for socializing, as well as accessible housing features such as one-floor living, which can help people age in place. People who are “house rich and cash poor” can sell their homes and use the equity to fund a more comfortable lifestyle.“While retirees often don’t want to rent, it can be a smarter decision for a number of reasons,” says certified financial planner Lisa A.K. Kirchenbauer of Arlington, Virginia.Consider renting if you’re in transitionIf you’re moving to a new area, financial planners often recommend renting first to get a better feel for the advantages and disadvantages of vari...

US chip controls threaten China’s technology ambitions

Published Wed, 12 Feb 2025 19:00:35 GMT

BEIJING (AP) — Furious at U.S. efforts that cut off access to technology to make advanced computer chips, China’s leaders appear to be struggling to figure out how to retaliate without hurting their own ambitions in telecoms, artificial intelligence and other industries.President Xi Jinping’s government sees the chips that are used in everything from phones to kitchen appliances to fighter jets as crucial assets in its strategic rivalry with Washington and efforts to gain wealth and global influence. Chips are the center of a “technology war,” a Chinese scientist wrote in an official journal in February.China has its own chip foundries, but they supply only low-end processors used in autos and appliances. The U.S. government, starting under then-President Donald Trump, is cutting off access to a growing array of tools to make chips for computer servers, AI and other advanced applications. Japan and the Netherlands have joined in limiting access to technology they say might be used t...

Feb job openings slip to 9.9M; a win in inflation fight?

Published Wed, 12 Feb 2025 19:00:35 GMT

WASHINGTON (AP) — U.S. job openings slipped to 9.9 million in February, fewest since May 2021 and a sign that the job market may be starting to cool, which would be welcome news for the inflation fighters at the Federal Reserve.Vacancies fell from 10.6 million in January, the Labor Department said Tuesday, notably in healthcare and in professional services, which includes managerial and technical jobs. Openings rose for construction workers. Despite the drop, the number of layoffs ticked lower in February, and more Americans quit their jobs — a sign of confidence they can find better pay or working conditions elsewhere. The American job market has proven resilient in the face of sharply higher interest rates. Over the past year, the Fed has raised its benchmark rate nine times in a drive to corral inflation that last year hit a four-decade high. The surge in consumer prices has eased since mid-2022 but remains well over the central bank’s 2% year-over-year target.Hiring was ex...

Toronto couple loses $400k in Bitcoin scam; police recover portions of funds

Published Wed, 12 Feb 2025 19:00:35 GMT

Police say they recovered a “significant portion” of money lost in a recent cryptocurrency scam in Toronto.Toronto Police Service says they were contacted by someone who alleges he and his wife had fallen victim to a Bitcoin scam.The victim told police he was solicited online and was persuaded to invest in an online platform called ‘crypto-seed.com,’ sending funds through a legitimate cryptocurrency exchange.Police say the communication between the scammer and victim was conducted over the phone, with the victim alleging the “scammer presented as professional and knowledgeable in the field.”“The scammer was able to convince the complainant that the funds would be secure on their online platform,” reads a police release.The victim alleges he was provided with credentials for the website which allowed him to check on his investment, saying it appeared to grow significantly.When he went to withdraw the funds he was asked to invest more, o...

Bank of Canada deputy governor Paul Beaudry to leave post, return to academia at UBC

Published Wed, 12 Feb 2025 19:00:35 GMT

OTTAWA — The Bank of Canada says deputy governor Paul Beaudry will be leaving his position at the central bank at the end of July. According to a news release, Beaudry will return to his academic position at the University of British Columbia. Beaudry is one of four deputy governors who are on the governing council along with governor Tiff Macklem and senior deputy governor Carolyn Rogers.The governing council is responsible for the central bank’s monetary policy, including setting its key interest rate.Beaudry became a deputy governor in February 2019 and has been overseeing the central bank’s analysis of international economic developments in support of monetary policy decisions. Prior to joining the Bank of Canada, Beaudry was an economics professor at UBC’s Vancouver School of Economics. The central bank says it will soon begin an internal recruitment process for the deputy governor position. This report by The Canadian Press was first published April 4, 2023.T...

A calmer Wall Street holds steady ahead of jobs data

Published Wed, 12 Feb 2025 19:00:35 GMT

NEW YORK (AP) — Stocks are holding relatively steady Tuesday, as Wall Street continues to find more calm following its tumultuous swings in March. The S&P 500 was virtually unchanged in early trading. The Dow Jones Industrial Average was edging down by 44 points, or 0.1%, at 33,556, as of 9:50 a.m. Eastern time, while the Nasdaq composite was 0.1% lower. Both the stock and bond markets have been steadying after swerving sharply through the first three months of the year. Many big questions still weigh on Wall Street, but the worst fears driven by the second- and third-largest U.S. bank failures in history have abated following forceful actions by regulators around the world.Investors are still split on whether the U.S. economy will fall into a recession and how badly profits for companies are set to fall. The biggest question remains what the Federal Reserve will do next with interest rates after hiking them furiously over the last year to get high inflation under control. A rep...

Vancouver’s March home sales down 42.5% from a year ago: B.C. board

Published Wed, 12 Feb 2025 19:00:35 GMT

VANCOUVER — The Real Estate Board of Greater Vancouver says home sales fell 42.5 per cent in March from a year ago and were 28.4 per cent below the 10-year seasonal average.Last month’s sales totalled 2,535 compared with 4,405 sales in March 2022 and 1,808 in February. The B.C. board says the numbers signal that March home sales are making a stronger than expected spring showing so far, despite elevated borrowing costs.It also found there were 4,317 new listings, a 35.5 per cent decrease from March 2022 and 22.3 per cent below the 10-year seasonal average.The board says the composite benchmark price for all residential properties in Metro Vancouver reached $1,143,900, a 9.5 per cent decrease from March 2022 and a 1.8 per cent increase compared with February.The board foresees further price increases as the year progresses.“On the pricing side, the spring market is already on track to outpace our 2023 forecast, which anticipated modest price increases of about one to two per ce...