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Toronto Highrise Fire Leaves Hundreds Without Homes Amid Uncertain Timeline

Fire crews are still on scene of a blaze in two connected apartment buildings in Thorncliffe Park but it's not extinguished yet. Residents of two Toronto apartment towers remain displaced after a stubborn and complex fire forced the evacuation of hundreds of units late last week. Fire crews have been battling the blaze at 11 Thorncliffe Park Drive and 21 Overlea Boulevard since Thursday, but officials say there is still no timeline for when residents will be able to return. The fire, described by Toronto Fire Chief Jim Jessop as one of the most complex incidents in the city’s history , has proven difficult to extinguish because it is burning inside insulation trapped between the walls of the two highrise buildings. At its peak, crews detected dangerously high levels of carbon monoxide , prompting the evacuation of all 378–408 units across the towers. Thankfully, no injuries have been reported. Acting Division Commander Robert Hewson noted that firefighters have been “actively...
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Wall Street and Global Markets Take a Dip After Holiday Weekend

 

Wall Street and global markets started the week on a bearish note, with the S&P 500 and Dow Jones Industrial Average futures down 0.3% and 0.2%, respectively, before the bell. The Hong Kong benchmark index fell more than 2%, and investors were left without cues from overnight trading due to the holiday weekend.

Investors have been betting on the Federal Reserve cutting its main interest rate six or more times through 2024, a much more aggressive track than the Fed itself has hinted at. However, after a roaring start to the year, investors are growing a bit more cautious about how soon the Fed will begin cutting interest rates, how quickly, and by how much.

The first quarter of this year may be marked by the realization that it’s too early for the central banks to cut the interest rates unless something really bad hits the fan.

Microsoft rose about 0.7%, to $391.25 per share, before the bell Tuesday, vaulting past Apple to become the world’s most valuable publicly-traded company with a market capitalization of $2.89 trillion.


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