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U.K. transport secretary demands answers from air traffic control chief after flight disruption
U.K. transport secretary demands answers from air traffic control chief after flight disruption

Toronto Sun

time31-07-2025

  • Toronto Sun

U.K. transport secretary demands answers from air traffic control chief after flight disruption

Published Jul 31, 2025 • 2 minute read FILE - Planes are parked at Terminal 5 at Heathrow Airport in London, Friday, March 21, 2025. Photo by Kin Cheung / AP LONDON (AP) — Britain's transport chief has summoned the head of the country's air traffic control operator to explain the problem that grounded and diverted dozens of flights Wednesday. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account More than 150 flights were cancelled across the U.K. as a result of what the National Air Traffic Service, or NATS, described as a 'technical issue' at the Swanwick control center that forced it to limit the number of aircraft in the London area. The problem was reported at 4:05 p.m Wednesday and the system was fully operational by 5:10 p.m., NATS said. Transport Secretary Heidi Alexander will meet with NATS Chief Executive Martin Rolfe on Thursday to 'understand what happened and how we can prevent reoccurrence.' 'The transport secretary is summoning in today the chief executive of of NATS to help us get to the bottom of what went wrong yesterday,' Business Minister Gareth Thomas told Times Radio. 'Clearly, an incident happened two years ago and measures were taken then. It looks like those measures weren't enough, but we need to get to the bottom of what exactly happened, and conversations will take place today.' This advertisement has not loaded yet, but your article continues below. Among those hit was British Airways, which said the problem forced the carrier to reduce the rate of flights from 45 to 32 per hour for more than two hours. While airlines expressed frustration over flight disruptions, industry experts said it was 'unrealistic' to expect an air traffic management system could function without any technical failures. 'There are technical failures in all industries,' Graham Lake, a former director general of the air traffic management industry association Canso, told the BBC. 'I'm a regular rail user, certainly there are signal failures practically every day, so we accept technical failures. Radio programs go off the air occasionally, technical failures are inevitable. The point is that you have to … plan the contingency and make sure that the operation remains safe and effective.' The NATS system has suffered several software-related failures since it opened in 2002. A glitch in August 2023 resulted in flight plans being processed manually rather than automatically. Hundreds of flights were delayed or canceled at the height of the summer holidays, affecting some 700,000 passengers. Sunshine Girls Celebrity Sunshine Girls Wrestling Canada

What is tokenization and is it crypto's next big thing?
What is tokenization and is it crypto's next big thing?

CTV News

time23-07-2025

  • Business
  • CTV News

What is tokenization and is it crypto's next big thing?

An advertisement for the cryptocurrency Bitcoin is displayed on a building in Hong Kong on Nov. 18, 2021. (AP Photo/Kin Cheung, File) NEW YORK — Tokenization has long been a buzzword for crypto enthusiasts, who have been arguing for years that blockchain-based assets will change the underlying infrastructure of financial markets. The technology is seen as rapidly increasing in coming years, especially in the U.S., helped by the passage of three new bills. President Donald Trump's administration has eased regulation of the broader crypto industry, paving the way for a boom in the valuation of companies in the sector and the rapid growth of crypto-related securities. However, the growth of the market for tokenized assets has been far slower than expected in recent years, with many projects still in their infancy or not yet live. How does tokenization work? The term 'tokenization' is used in a variety of ways. But it generally refers to the process of turning financial assets - such as bank deposits, stocks, bonds, funds and even real estate - into crypto assets. This means creating a record on digital ledger blockchain that represents the original asset. These blockchain-based assets, or 'tokens,' can be held in crypto wallets and traded on blockchain, just like cryptocurrencies. Where do stablecoins come in? Stablecoins can be seen as an example of tokenization. They are a type of cryptocurrency designed to maintain a constant value by being pegged to a real-world currency, typically the U.S. dollar. The issuer holds one U.S. dollar in reserve for every dollar-pegged crypto token it creates. Stablecoins are blockchain-based tokens acting as a proxy for an asset that already exists outside the blockchain. They allow people to move money across borders without interacting with the banking system. While critics say that this makes them useful for criminals who want to avoid banks' anti-money laundering checks, stablecoin issuers say that they are a lifeline for people in countries without a developed payments system. Are tokenized assets taking off? Yes and no. Stablecoins have grown in recent years, with the market estimated to be worth about US$256 billion, according to crypto data provider CoinMarketCap, and expected to touch US$2 trillion by 2028, according to Standard Chartered. But banks have talked for years about creating tokenized versions of other types of assets, which they say will make trading more efficient, faster and cheaper, and those 'tokens' have struggled to gain traction. While there have been individual issuances, there is not a liquid secondary market for these kinds of assets. One impediment to trading traditional assets via blockchain is that banks are working on their own private networks, making it difficult to trade across platforms. What are the pros of tokenization? Some proponents of the crypto industry have said tokenization can improve liquidity in the financial system. Illiquid assets like real estate could be traded more easily if they are broken up into small digital tokens. It is also expected to improve access to asset classes that are typically out of reach of smaller investors by creating a cheaper entry point. Which companies are interested in tokenization? Some major global banks, including Bank of America and Citi have said they could explore launching tokenized assets, including stablecoins. Asset manager BlackRock is also doubling down on the tokenization boom, and has highlighted its ambition of becoming the largest cryptocurrency manager in the world by 2030. Coinbase, the largest U.S. crypto exchange, is seeking permission from the SEC to offer 'tokenized equities' to its customers. How does new regulation help tokenization? Since stablecoins themselves are tokens and seen as one of the biggest drivers of the growth of tokenization, the new stablecoin law will end up boosting the proliferation of tokenization, experts say. The new market structure bill, known as the Clarity Act, is expected to establish a clear framework that could enable stablecoins and other crypto tokens to become more widely used. What are the risks? Some analysts say the hype around tokenization might be premature and caution that the rapidly growing crypto ecosystem could experience near-term turbulence due to the potential risks of a big decline in prices. European Central Bank President Christine Lagarde has warned stablecoins pose risks for monetary policy and financial stability. Some critics of the industry warn the frenzy around the new technology could introduce new systemic risks, especially in the absence of stringent regulation. They also say there is no reason why blockchain should be any more efficient than the electronic ledgers and trading systems already used in financial markets. Buyers of third-party tokens, which are issued by unaffiliated third parties - such as crypto exchange Kraken - that have custody of securities, could be exposed to counterparty risks, and regulators are sounding notes of caution. Earlier in July, Hester Peirce, a commissioner at the U.S. Securities and Exchange Commission who has frequently spoken positively about cryptocurrency, said tokenized securities would not be able to circumvent existing securities laws. More than half of the world's U.S. dollar stablecoins are issued by a single company, Tether, which says it manages US$160 billion in reserves, but has not undergone a financial audit. --- Reporting by Anirban Sen in New York; Additional reporting by Chris Prentice and Elizabeth Howcroft; Editing by Megan Davies, Tommy Reggiori Wilkes, Nia Williams

What to know about Parkinson's disease after Ozzy Osbourne's death
What to know about Parkinson's disease after Ozzy Osbourne's death

Toronto Sun

time23-07-2025

  • Entertainment
  • Toronto Sun

What to know about Parkinson's disease after Ozzy Osbourne's death

Published Jul 23, 2025 • 2 minute read Flowers and messages are left by fans to commemorate the death of Ozzy Osbourne at the Black Sabbath Bridge in Birmingham, Wednesday, July 23, 2025. Photo by Kin Cheung / AP Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Heavy metal rocker Ozzy Osbourne died this week at 76, just weeks after his farewell show and about five years after announcing he had Parkinson's disease. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Here's what to know about the disease: Parkinson's is a neurologic disease that robs people of control over their movements. It typically starts with tremors and is characterized by slow movement, a shuffling gait, stiff limbs, balance problems and slurred speech. Who gets it? About 1 million Americans are living with Parkinson's, and 10 million people worldwide, the Parkinson's Foundation. estimates. It usually appears after age 60, although sometimes it can develop before age 50. What causes Parkinson's? The exact cause isn't known, but Parkinson's develops when cells that produce one of the brain's chemical messengers, called dopamine, begin to deteriorate and die. Dopamine transports signals to parts of the brain that control movement. Parkinson's symptoms appear after enough dopamine-producing cells die that there's too little of this neurotransmitter in the brain. This advertisement has not loaded yet, but your article continues below. According to the foundation, most experts believe genetic and environmental factors are behind the disease. Dozens of gene mutations linked to Parkinson's have been discovered and genetics account for 10% to 15% of all cases. Other factors suspected of increasing the risk include head injuries, exposure to pesticides and herbicides and where you live. Is there a cure? There is no cure but there are treatments, including medications that affect dopamine levels and a surgically implanted tremor-blocking device. Patients also can benefit from physical and occupational therapy. What's the prognosis? Symptoms worsen over time, usually slowly. The severity of symptoms and how quickly they progress varies widely between patients. In advanced cases, people may be unable to walk or care for themselves. They also can suffer from depression as well as memory and thinking problems. While Parkinson's itself isn't considered fatal, people can die from complications of the disease, including lung problems as muscle weakness impedes the ability to cough and to swallow. For more health news and content around diseases, conditions, wellness, healthy living, drugs, treatments and more, head to – a member of the Postmedia Network. Canada Toronto & GTA Ontario Sunshine Girls Relationships

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