Thursday, 28 Mar 2024

Fisher-Price issues recall after infant fatalities tied to inclined sleeper accessory

Supreme Court declines to put limits on partisan redistricting

The Supreme Court, in a 5-4 ruling written by Chief Justice Roberts, held that congressional districting maps in North Carolina and Maryland are not unconstitutional gerrymandering. "The Constitution does not require proportional representation, and federal courts are neither equipped nor authorized to apportion political power as a matter of fairness," the ruling states.

Trade war would have a 'devastating' impact on the world economy, Morgan Stanley CEO James Gorman says

Morgan Stanley CEO James Gorman said that China and the U.S. must come to a truce in its trade dispute because a full-blown trade war would be devastating for the global economy. 

"We can't have a trade war," Gorman said in an interview with CNBC's Wilfred Frost. "It will have a devastating effect to the global economy. That doesn't mean there can't be changes to the way the trade agreements are being written."

Morgan Stanley is the sixth biggest U.S. bank by assets, but it has leading businesses in Wall Street arenas like equities trading and mergers advice and it also runs one of the biggest wealth management brokerages. Like its big-bank peers, the company will disclose whether the Federal Reserve will allow it to raise its dividend and share repurchase program on Thursday. 

The bank's shares have climbed 9.4% this year. 

This story is developing. Please check back for updates.

U.S. 30-year mortgage rates fall to lowest since November 2016: Freddie

(Reuters) – Interest rates on U.S. 30-year fixed-rate mortgages declined to their lowest levels since November 2016 as U.S. bond yields have fallen on expectations the Federal Reserve may lower interest rates as early as July, Freddie Mac said on Thursday.

Thirty-year mortgage rates averaged 3.73% in the week ended June 27, down from 3.84% a week earlier and lower than 4.55% a year ago, the mortgage finance agency said.

Mexico to raise bond issuance volumes in third quarter

MEXICO CITY, June 27 (Reuters) – Mexico’s finance ministry said on Thursday it would raise the issuance volume of bonds with maturities of 3 years, 5 years, 10 years, 20 years and 30 years during the third quarter.

Compared with the second quarter planning, average issuance volume for 3-year bonds would be raised by 800 million pesos, for 5-year bonds by 1.5 billion pesos, for 10-year bonds by 2 billion pesos, for 20-year bonds by 1 billion pesos and for 30-year bonds by 1 billion pesos, the ministry said.

One person suffers serious injuries following collision with cement truck in southeast London

One person has suffered serious but non-life threatening injuries following a collision between a car and a cement truck in southeast London.

Emergency crews responded to the scene shortly before 8 a.m. Thursday on Highbury Ave. between Dingman Dr. and Westminster Dr.

 

Police closed a section of Highbury Ave. while they investigated the crash, but the roadway reopened just before 10 a.m.

The investigation continues.

U.S. Treasury to sell $72 bln in bills

June 27 (Reuters) – For details of the U.S. Treasury’s auctions of 13-week and 26-week bills on July 1, see: 13-week bills here 26-week bills here

Arrest made in May homicide on Flora Avenue

An arrest has been made in the city’s 16th homicide of the year.

On May 21, emergency personnel were called to a house on Flora Avenue just before 10 p.m. There, they found Jessie Robert David Catterson, 36, who had been stabbed.

He was taken to hospital and later died.

Winnipeg police said Donald Leslie Parisien, 36, was arrested Wednesday and charged with second degree murder.

Chinese Electric Vehicle Nio Recalls 4,803 Cars

Subsequent to fire incidents in electric vehicles manufactured by Tesla Inc. and Nio Inc., Chinese automaker Nio decided to recall 4803 its flagship car NIO ES8 crossovers. The company said the vehicles with battery boxes manufactured within April 2 and October 19, 2018 are being recalled.

The company found safety risks in defective battery boxes and offered a free replacement of battery packs to all affected vehicles.

Chinese Ministry of Industry and Information Technology ordered car-makers to do a thorough check on electric vehicles, especially the battery boxes, waterproof protection, high voltage wirings and on-board charging devices.

Earlier in mid June, Nio ES8 vehicle caught fire in a parking lot in Wuhan in Hubei province. Previously too, two of its vehicles caught fire, causing severe damage to chassis.

Following fire issues in Model S and Model X battery powered vehicles, Tesla had updated its charging and cooling settings of battery management system to control cell temperature and charge level. Similar incidents were reported in Hong Kong and U.S. in February.

Fisher-Price issues recall after infant fatalities tied to inclined sleeper accessory

Fisher-Price has issued a recall for the inclined sleeper accessory that’s included in certain models of the Ultra-Lite Day & Nite Play Yards after reports of infant deaths tied to other inclined sleep products. Babies have rolled from their backs onto their sides or stomachs while unrestrained or other different circumstances, according to the Consumer Product Safety Commission announcement. Consumers are advised to immediately stop using using the inclined sleeper accessory and contact Fisher-Price for a refund or voucher. However, they can continue to use the "play yard," changing station accessory and carry bag. The inclined sleeper was available from October 2014 to June 2019, priced at $90 to $110. In April, Fisher-Price issued a recall for the Rock ‘n Play Sleeper because it was tied to infant deaths. Fisher-Price is part of the Mattel Inc. MAT, +1.56% portfolio of brands. Mattel stock is up 1.2% in Thursday trading, and up 7.5% for the year to date. The S&P 500 index SPX, +0.32% is up 16.7% for 2019 so far.

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