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Virgin Orbit seeks bankruptcy protection after mission fail

Published Tue, 25 Feb 2025 17:20:08 GMT

Richard Branson’s Virgin Orbit is filing for Chapter 11 bankruptcy protection after a failed mission this year and increasing difficulty in raising funding for future missions. The company laid off most of its staff on Friday and told the U.S. Bankruptcy Court for the District of Delaware in a filing Monday that it was looking to sell its assets.Virgin Orbit said that it has secured $31.6 million in debtor-in-possession financing from Branson’s Virgin Investments Ltd. Virgin Orbit CEO Dan Hart said that once the financing is approved by the bankruptcy court, the funds are expected to provide Virgin Orbit with the necessary liquidity to continue operating as it attempts to sell the company.“While we have taken great efforts to address our financial position and secure additional financing, we ultimately must do what is best for the business,” Hart said.The Long Beach, California, company said in its bankruptcy filing that it has between 200 and 999 estimated creditors. It...

‘We are at a breaking point’: Toronto’s Daily Bread Food Bank seeing highest demand ever

Published Tue, 25 Feb 2025 17:20:08 GMT

One of the country’s largest food banks says Toronto is in the midst of a food insecurity crisis.The Daily Bread Food Bank saw more visits last month than it ever has before, saying visits have quadrupled since the COVID-19 pandemic.“We are at a breaking point and need action now,” says CEO Neil Hetherington in a statement. “This is not something that can be outsourced to charities.”“It is the government’s duty to ensure that every person in this city, in this country, can realize their right to food.”The food bank saw nearly 270,000 visits in March, which it says is the highest number in its 40-year history. It compares to 65,000 client visits per month pre-pandemic.The organization says it is also seeing 12,000 new people access emergency food services per month, which is six times higher than pre-COVID.It attributes the rise in clients to stagnating income that hasn’t kept pace with inflation and the rising cost of housing. The char...

Webby Award nominations for Harry Styles, Lizzo, Post Malone

Published Tue, 25 Feb 2025 17:20:08 GMT

NEW YORK (AP) — Harry Styles, Post Malone, Lizzo, Doja Cat, Megan Thee Stallion, the cast of “Ted Lasso” and the web series that gave us a kid loving corn are among the nominees for this year’s Webby Awards, recognizing the best internet content and creators.The International Academy of Digital Arts & Sciences announced the nominees on Tuesday, the result of nearly 14,000 entries from 70 countries.Styles nabbed a nomination for his commercial for AirPods, Trevor Noah for his segments filmed between the scenes at “The Daily Show” and BTS fans for their YouTube uploads called #MyBTStory. Lizzo got one for her hosting her show “Lizzo’s Watch Out For the Big Grrrls,” in which she hunts for dancers. Doja Cat’s reluctant social video for Taco Bell’s Mexican Pizza — “I like my pizza with refried beans/Peep my ad/ Search YouTube/This ain’t even Mexican food” — was nominated for best advertising partnership, and faces-off in that category with the collaboration between “Ted L...

Millennial Money: Bank bonuses, interest may boost tax bill

Published Tue, 25 Feb 2025 17:20:08 GMT

With tax season in full swing, you may be consolidating the various charitable donation receipts, deductions and W-2 forms that you’ll submit to the Internal Revenue Service. But if you received any bank sign-up bonuses or earned interest on your bank balance, you may owe additional taxes you might not have planned for.Interest rates on bank accounts, such as high-yield savings accounts, were high in 2022 due to ongoing rate increases made by the Federal Reserve. Bank sign-up bonuses and promotions have also been high, often $100 or more. The IRS sees bonuses and interest as additional income, which means the government has to take its cut.WHAT’S THE TAX RATE FOR BANK INTEREST AND BONUSES?Interest from savings accounts is taxed at the same rate as your income, which is in the range of 10%-37% in the United States in 2023. If you’ve earned interest, your bank may send you a 1099-INT tax form. These forms are issued by businesses that offer interest, such as banks, and they let you kn...

3 firefighters injured, 1 critically, while battling house fire on South Side

Published Tue, 25 Feb 2025 17:20:08 GMT

CHICAGO — Three Chicago firefighters were injured, one critically, while battling a house fire on the city's South Side.The fire started inside a two-and-a-half story home at 120th and Wallace in West Pullman around 330 a.m. Tuesday. Officials believe the fire started in the attic of the home, then eventually spread to its two neighboring buildings. The home was vacant at the time of the fire.One of the injured firefighters is in critical condition at Advocate Christ Medical Center. The two others are in stable condition, according to the department. Joliet man dies after shooting in parking lot of children’s indoor playground It is unclear at this time how the firefighters were injured in the fire.This is a developing story. Check back for details.

Johnson versus Vallas: Where the 2 mayoral candidates stand

Published Tue, 25 Feb 2025 17:20:08 GMT

CHICAGO — Monday was the last day for Brandon Johnson and Paul Vallas to sway votes in their favor."I know our people work hard in this city," Johnson said. "I want our city to work harder for the people who do the work.""It’s about leadership. It’s about somebody with the experience," Vallas said. "It’s about somebody who is a career public servant and has demonstrated the willingness to make sacrifices for the public good."Recent public surveys give the edge to Vallas, who earlier in his campaign seized on voters' concerns about crime in the city of Chicago. WGN Poll: Vallas leading Johnson in Chicago Mayoral runoff election "We will make all of our communities safer," Vallas said. "We will take the issue of quality schools."Brandon Johnson, a Cook County Commissioner and union organizer, is counting on a get-out-the-vote army made up of the Chicago Teachers Union, Service Employees International Union (SEIU), and the American Federation of State, County & Municipal Employee...

Eaglet dies after EagleCam shows heavy winds blow nest from tree

Published Tue, 25 Feb 2025 17:20:08 GMT

MINNEAPOLIS (AP) — Viewers of the Minnesota Department of Natural Resources EagleCam were heartbroken over the weekend as they watched strong winds from a severe weather system whip a nest holding a newly hatched eaglet out of a tree.The nature livestream captured the moment the nest fell Sunday morning. A mother eagle crouched in the snow-filled nest as it swayed precariously in the wind. A branch snapped, and the nest collapsed as the mother flew backward. The young eagle was later found dead on the ground, the department said in a statement.“I was actually crying,” said Denise Chung, who said she and her kids watched the nest fall in real time. She told The Associated Press it hit her particularly hard because she knew the eagle lost its baby. “I don’t know if it would have hit me so hard if I weren’t a mom.”The nest weighed over 2,000 pounds (907 kilograms) and was over 20 years old, the statement said. The department said heavy snow that fell over the weekend — coupled wit...

New fire safety requirements for animal care facilities in Round Rock

Published Tue, 25 Feb 2025 17:20:08 GMT

ROUND ROCK, Texas (KXAN) -- Round Rock city council approved changes to the fire safety requirements for dog daycare facilities following a tragic fire in Georgetown in 2021 that left 75 animals dead. Any existing animal care facilities in Round Rock that do not have the proper safety requirements in place will have two years to install the changes. What is required now?The Round Rock fire department proposed changes to the city ordinances to ensure the safety of animals. The Ponderosa Pet Resort, an animal daycare business in Georgetown, caught on fire in September of 2021 and 75 animals died. It was discovered the business did not have a fire suppression system or any overnight staffing. Georgetown changed its ordinances after the fire. Georgetown fire code amendments discussed following deadly pet resort fire Once the amendment is officially adopted at the next Round Rock City Council meeting on April 13, any new animal care company will be required to install a monitored alar...

1 dead after Monday crash on Ed Bluestein

Published Tue, 25 Feb 2025 17:20:08 GMT

AUSTIN (KXAN) – Austin Travis County EMS says one person died Monday morning after a fiery crash in Northeast Austin.According to ATCEMS, crews were called out to the crash site at 10:08 a.m. on the northbound service road of Ed Bluestein Boulevard. That's just south of Manor Road near LBJ Early College High School.ATCEMS said it was a crash between a vehicle and a fixed object. The person was pronounced dead at the scene, according to ATC-EMS.

Donald Trump set to be arraigned in historic court moment

Published Tue, 25 Feb 2025 17:20:08 GMT

By MICHAEL R. SISAK, ERIC TUCKER and WILL WEISSERT (Associated Press)NEW YORK (AP) — An extraordinary moment in U.S. history is set to soon unfold in a Manhattan courthouse on Tuesday: Former President Donald Trump, who faces multiple election-related investigations, will surrender to face criminal charges stemming from 2016 hush money payments.The booking and arraignment are likely to be relatively brief — though hardly routine — as Trump is fingerprinted, learns the charges against him and pleads, as expected, not guilty. Judge Juan Merchan has ruled that TV cameras won’t be allowed in the courtroom. Trump, who was impeached twice by the U.S. House but was never convicted in the U.S. Senate, will become the first former president to face criminal charges. The nation’s 45th commander in chief will be escorted from Trump Tower to the courthouse by the Secret Service and may have his mug shot taken.Trump lawyer Joe Tacopina said Tuesday that Trump wouldn...