7 10 19

Updated:Life is far from normal in the European capital of Brussels. Despite a series of raids and arrests last night, the city is virtually locked down.Security forces in Belgium conducted 22 raids yesterday in Brussels and to the south, detaining 16 people. However, they didn’t get the most wanted fugitive from the Paris attacks: Salah Abdeslam.Authorities are maintaining their highest terror alert in the capital for a third straight day.Schools and universities in Brussels will remain closed today, and the city’s subway will remain shut down.The Canadian embassy in Brussels is closed until further notice.Authorities fear an attack like in Paris, with several individuals, perhaps in several places.Hundreds of troops are patrolling the streets. read more

7 10 19

There are cancer causing contaminants in the air in Hamilton, St. Catharines, and other industrial cities, according to researchers at Mcgill University.Benzene is known to cause acute myeloid leukemia or AML which is a cancer of the bone marrow or blood.According to the associate medical officer of health in hamilton, the numbers in the study don’t tell the whole story.Associate Medical Officer of Health, Dr. Bart Harvey says, “In Hamilton in and around 20 hamiltonians are diagnosed with AML, and if I can put that into context every year slightly more than 3,000 Hamiltonians are diagnosed with cancer.”Not all the troubled neighborhoods were surrounded by industry in fact the area with the highest number of cases was in Westdale where it came in at 85 cases per million people a year the canadian average is 30. read more

7 10 19

Clocks officially turn forward on Sunday at 2 a.m. to return to daylight time. The Brantford and Brant County fire department say it is also time to test all hard-wired and battery-operated smoke alarms to ensure they are in working condition. They recommend that all batteries be changed in smoke and carbon monoxide alarms. In addition, all alarms have expiry dates and should be replaced according to the manufacturer’s instructions. Each home is required by law to have working smoke alarms on each floor and outside all sleeping areas. Carbon monoxide alarms must be installed outside all sleeping areas if the home has a fuel-burning appliance, fireplace or attached garage. The fire department also recommends developing a home escape plan with a safe meeting location outdoors. The time shift helps move us toward later sunsets until November. Of course, this will come with later sunrises, but most of us would prefer that sunlight at the end of the day, after work, when we can enjoy it. Waking up in the dark seems like a fair trade. Daylight time – which we abide by in winter – was invented to compensate for the dwindling of daylight in the winter. It was believed that the daylight would be more useful in the morning than the evening, so the clocks were shifted in an attempt to move up peoples’ schedules. Nowadays, it’s a leftover antiquity dating back to the days of being a primarily agricultural and industrial nation. read more

6 10 19

Terje Roed-Larsen, the UN Special Coordinator for the Middle East Peace Process, held what was described as a “constructive” meeting in Ramallah with Yasser Arafat, the President of the Palestinian Authority. He also met with Abu Mazen, Secretary-General of the Palestine Liberation Organization (PLO), and Abu Alaa, the Speaker of the Palestinian Legislative Council.According to a statement issued in Beirut and Gaza, Mr. Roed-Larsen’s regional political and diplomatic efforts are being undertaken “amid the dangerous new situation resulting from the recent renewed violence, including action on different fronts.”Recent events have “widespread regional implications,” the statement said, noting that earlier Mr. Roed-Larsen had warned that the situation was close to a point where “the violence threatens to spin out of control.”At the same time, Mr. Roed-Larsen noted that there were grounds for optimism and that progress was possible. “We must all ensure that the talking continues,” he stressed, adding, “no one can afford a regional conflict.”The envoy is scheduled to meet tonight in Amman with Jordan’s Foreign Minister, Abdel Ilah Al Khateeb, before travelling to Syria. In Damascus, Mr. Roed-Larsen is expected to meet tomorrow with senior Syrian officials.Meanwhile, the Chairman of a key UN committee monitoring Palestinian rights has called for “prompt and decisive international action” to stop the current spate of violence and bring the parties back to the negotiating table.In a just-released letter to the Secretary-General, as well as to the Presidents of the Security Council and General Assembly, Ibra Deguene Ka, Chairman of the Committee on the Exercise of the Inalienable Rights of the Palestinian People, calls attention to recent “harsh and disproportionate” Israeli military attacks. He urges the Secretary-General to intensify contacts with the parties concerned to help end the crisis and restart the Israeli-Palestinian dialogue.”In view of a particularly tense and volatile situation on the ground, efforts within the United Nations to ensure protection of Palestinian civilians acquire special urgency,” Mr. Ka notes. read more

6 10 19

Social Panorama of Latin America 2000-2001, prepared by the UN Economic Commission for Latin America and the Caribbean (ECLAC), reveals that the wealthiest 10 per cent of the region’s households captures a share of total income that averages 19 times higher than the amount received by the poorest 40 per cent of all households. Analyzing trends in income distribution, ECLAC concludes that “in most countries, this situation did not improve significantly and in some cases it even worsened during the 1990s, despite the relative recovery of economic growth and higher social spending.” Income distribution in Latin America stands out in the international context because of the large amount of total earnings received by the wealthiest 10 per cent of the population, according to ECLAC. Except for Costa Rica and Uruguay, statistics from countries of the region indicate that the richest tenth of all households appropriates over 30 per cent of income, with this figure running as high as 45 per cent in Brazil. The report does point to some positive developments, saying ECLAC has found it “encouraging” that some Central American countries have progressed – to different degrees – in terms of income distribution in urban areas. The report attributes this trend to the region’s greater economic stability, reduced demographic pressures and an increase in remittances from nationals living abroad. read more

6 10 19

The College became operational on 1 January as the latest member of the UN family of organizations following approval of its new statute by the UN General Assembly last July.The UN Deputy Secretary-General, Louise Fréchette, who chaired the inaugural meeting of the College’s new Board of Governors on 21 November, described the College as “a common UN system instrument for learning and an important tool for nurturing innovation and generating a common UN system management culture.””We now have an important opportunity to put the Staff College on a more secure footing so that it can realize its full potential,” Ms. Fréchette said.Under its new status, the College, which is headed by John Machin of the United Kingdom, will continue to be located in Turin on the campus of the International Training Centre of the ILO. The campus also houses the UN Interregional Crime and Justice Research Institute (UNICRI). read more

6 10 19

“This meeting offers an opportunity to once again demonstrate the commitment of the international community to helping the people of Burundi leave behind an era of great misery and upheaval, and turn their attention to the essential work of recovery, reconciliation and economic and social development,” Mr. Annan told the Round-Table Conference in a message delivered by his Deputy Special Representative for Burundi, Nureldin Satti. The Secretary-General called on donors to provide assistance to meet Burundi’s emergency needs and to close its budget gap and balance of payments deficit. He hailed those that have made good on past pledges to help the country, and urged others to follow their example.”Your discussion takes place at a time when prospects for peace are emerging and when the Transitional Government is implementing an important economic and social recovery programme,” Mr. Annan emphasized, calling for continued international support for “these and other steps towards resolving a very complex and volatile situation.”Reviewing recent political developments in the country, the Secretary-General said ceasefire talks between the Government and the armed movements have generated momentum. “It is my hope that those talks, which resumed this week in Dar-Es-Salaam, will lead to concrete results and put an end to the long suffering of the Burundi population,” he said. read more

6 10 19

“We are pleased to see the Sierra Leonean refugees return home, as voluntary repatriation where possible – as in this case – offers the best durable solution to the challenge of being a refugee,” the representative in Liberia of the UN High Commissioner for Refugees (UNHCR), Moses Okello, said today of the first convoy of 65 people which is set to launch the operation via Bo Waterside tomorrow. “We are confident in the peace obtaining inside Sierra Leone and we feel that every Sierra Leonean should be availed of the opportunity to contribute to the rebuilding of the country,” he added. Land repatriation was suspended in April 2002 as a result of escalation of fighting in Grand Cape Mount and Bomi counties after UNHCR had helped some 19,500 people to return to Sierra Leone. Most refugees preferred land repatriation, fearing travel by sea or air. Deployment of peacekeepers from the UN Mission in Liberia (UNMIL) at Bo-Waterside a few days ago has created the conditions for the safe passage of from Monrovia to Zimmi in Sierra Leone. UNHCR anticipates an “overwhelming” response to the exercise. Agency field and security staff, as well as medical personnel who will use ambulances for the vulnerable, will accompany the convoys which will operate every Tuesday and Thursday. read more

6 10 19

“The Secretary-General wishes to emphasize yet again that no cause can justify acts of terror, perpetrated against civilians,” said a statement issued a spokesman for Mr. Annan. “He denounces the attack against a site that has long been a tangible example of peaceful coexistence in the Middle East.” The statement said the Secretary-General “hopes that the perpetrators will be speedily brought to justice. He extends his condolences to the families of the victims, as well as their Governments, and sends his best wishes for a speedy recovery to all those injured.” read more

6 10 19

“Industry, governments and community leaders have a moral obligation and a vested interest in closing the gap between the reached and unreached,” she said in a keynote address to the World Vaccine Congress in Lyons, France. “We’ve made progress before, but much more needs to be done to end stubborn inequities that cost millions of children’s lives.”Ms Bellamy pointed to the polio eradication effort as an example of the global community’s capacity to reach children in the most remote places as well as those who are socially marginalized. “The lesson here is: If we can come this close to eradicating polio, there is no excuse for not ridding the world of killers like measles, too.”The 70 per cent of children reached worldwide in 1990 with the “basic six” vaccines against whooping cough, measles, diphtheria, polio, tuberculosis and tetanus had not changed, she said.The three-pronged approach of a Global Vision and Strategy for Immunization jointly developed by UNICEF and the UN World Health Organization (WHO) aims to reach more children with lower-cost, effective vaccines, to link routine immunization to other health interventions and to introduce advanced vaccines at affordable prices. Those could include inoculations against rotavirus, human papilloma virus, pneumococcal infection, dengue fever and even malaria, she said.A global survey of child mortality UNICEF made public last week showed that 98 countries are lagging behind in their efforts to reach the globally agreed Millennium Development Goal of a two-thirds reduction in child mortality from 1990 to the year 2015, especially in countries plagued by conflict or HIV/AIDS where immunization rates are generally low.”It’s clear that we have to learn some new tricks to reach the goals the world has set for itself,” Ms. Bellamy said. “The strongest possible partnership between the private and public sectors is a crucial first step, both in ensuring a steady, affordable supply of vaccines and in making sure it reaches the children who are hardest to reach. It’s a double challenge.” read more

6 10 19

Alan Doss, a citizen of the United Kingdom, would replace retired United States Air Force Major-General Jacques Paul Klein as the Special Representative of the Secretary-General (SRSG) and head of the UN Mission in Liberia (UNMIL). Mr. Klein’s contract expired in April.Mr. Doss has had a long and distinguished career with the UN, having served as Principal Deputy SRSG in Côte d’Ivoire since June of last year. Before that, he was Deputy SRSG in Sierra Leone, while concurrently holding the positions there of UN Resident Coordinator, UN Humanitarian Coordinator and UN Development Programme (UNDP) Resident Representative.His previous assignments in the UN included posts at headquarters in New York, at the UN complex in Geneva, Switzerland, as well as in Thailand, China, Kenya, Niger, the Democratic Republic of the Congo (DRC) and Benin. read more

6 10 19

“The ball now is with Iran to continue to cooperate with the Agency as early as possible,” International Atomic Energy Agency (IAEA) Director-General Mohamed ElBaradei said after the IAEA’s Board of Governors found Iran in breach of its obligations under the Nuclear Non-Proliferation Treaty (NPT) because of its concealment of its activities over an extended period of time.In a resolution passed on Saturday, the Board did not immediately defer the issue to the Security Council, which can impose sanctions, and Mr. ElBaradei said he was encouraged by this since it gave time for diplomacy and negotiation.“So all of us need to explore this window of opportunity, from now until November, to make sure that we are moving toward a comprehensive settlement of the Iranian nuclear issue,” he told journalists at IAEA headquarters in Vienna following the Board’s vote, which left the issue open until it next meeting in November. “I was assured to hear Iran here saying that they would continue to cooperate with the Agency,” he added, calling on the country to resume negotiations with the European Union (EU), which has been seeking a diplomatic solution for the past year. Iran’s nuclear programme has been a matter of concern since 2003, when the IAEA determined that the country had for almost two decades concealed its nuclear activities in breach of the NPT. Iran insists the programme is for peaceful energy production only but some countries, including the United States, say is part of an effort to produce nuclear weapons.In its resolution, the Board found that Iran’s many failures and breaches of its obligations to comply with its NPT Safeguards constituted non compliance, adding “the resulting absence of confidence that Iran’s nuclear programme is exclusively for peaceful purposes have given rise to questions that are within the competence of the Security Council.” It voiced uncertainty over Iranian motives for its concealment.It called on Iran to implement transparency measures, including access to individuals and documentation relating to procurement, dual use equipment, certain military owned workshops and research and development locations, and to re-establish full and sustained suspension of all enrichment-related activity. Enriched uranium can be used either for the peaceful production of nuclear energy or for making nuclear weapons.It urged the country to reconsider the construction of a research reactor moderated by heavy water and to promptly ratify and implement in full the Additional Protocol to NPT which affords inspectors greater rights of access and added authority to use advanced technologies to track that nuclear materials are not being diverted and that there are no clandestine, proscribed nuclear activities in a state. read more

6 10 19

by News Staff Posted May 31, 2012 4:39 am MDT MUMBAI, India – India’s economic growth slowed to 5.3 per cent in the January-March quarter, the lowest since 2008, as the malaise in manufacturing and other sectors spread to ordinary Indians, who trimmed spending.The data, released by the government Thursday, was far worse than expected. Growth for the fiscal year through March was 6.5 per cent — less than the Reserve Bank of India’s forecast of 7.0 per cent.Not so long ago, Indian politicians claimed their economy could rival China’s and surge into double digit growth, lifting hundreds of millions out of dire poverty in the process.Instead, India is mired in a deepening crisis of confidence. Asia’s third-largest economy is widely regarded as performing below its potential, but hopes have dimmed that the fractious ruling coalition will be able to push through tough measures that could unlock a rebound.Thursday’s data suggest that Indian consumers, hit by stubborn inflation and a gloomy global outlook, have now fallen prey to the general malaise.“It’s beyond anything that we would have imagined,” said Samiran Chakraborty, head of research at Standard Chartered in Mumbai. “It looks to me that the consumption side of the story is now faltering.”Chakraborty blames inflation, which has averaged 9.2 per cent since the beginning of 2010.“Real wages are falling,” he said. “The consumption slowdown along with the investment slowdown has been a double whammy for the GDP number.”Inordinate delays in project approvals, energy supply, labour and land issues, and policy decisions that have frightened foreign investors have all weakened investment. India’s rising deficits and plunging currency — the rupee tumbled to a new lifetime low against the dollar Thursday — haven’t helped either.India’s combined fiscal deficit has more than doubled from 4.1 per cent of GDP in fiscal year 2008 to around 9 per cent now and the current account deficit is about 4 per cent of GDP, prompting Standard & Poor’s to threaten a sovereign downgrade.Manufacturing, a key source of jobs, fell 0.3 per cent in the March quarter from a year earlier.“India’s growth story has clearly derated,” said Citigroup economist Rohini Malkani, before the data came out. “A lot of it has been self-inflicted.”“There’s no easy way out,” Malkani said. “India clearly needs a fair amount of luck in terms of oil prices and capital flows.”The Reserve Bank of India and the International Monetary Fund, among others, have been urging the government to enact long-promised reforms that would kickstart growth and stimulate investment.A nationwide strike Thursday, organized by opposition political parties to protest a recent hike in gasoline prices underlined the difficulty of economic reform.Economists had cheered the hike as a step toward controlling India’s fiscal deficit. The 11 per cent increase was the steepest rise in a decade.Opposition parties, however, are demanding that the government roll back the increase to check inflation, dimming hopes that New Delhi will be able to trim other subsidies, such as diesel, which would do far more to balance the budget.In the financial capital Mumbai, residents, especially in the working class suburbs, stayed home, afraid of violence. Many shops were shuttered. Mobs attacked public buses, throwing stones, smashing windscreens and puncturing their tires.Trains, the lifeblood of the city, were unusually empty and Mumbai’s normally gridlocked roads were eerily clear during morning rush hour. India’s economy grew 5.3 per cent in March quarter, slowest since 2008 on flagging consumption AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

6 10 19

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Benchmark crude price slides on concerns about US and global economies by News Staff Posted Jul 5, 2012 3:56 pm MDT NEW YORK, N.Y. – A slew of disappointing economic news spooked investors Thursday and pushed down the price of oil.Shoppers in the U.S. cut back on spending last month, leaving many retailers with tepid sales and concerns about consumer demand during the coming back-to-school season. Consumers drive about 70 per cent of U.S. economic growth. And the Institute for Supply Management reported that U.S. service companies appear to be struggling, as growth declined last month to the slowest pace in nearly two and a half years. Service companies, which include retail, construction, financial services, health care and hotels, employ about 90 per cent of the nation’s workers.On the brighter side, weekly jobless claims fell to a six-week low, offering some hope on the jobs front.Meanwhile, Europe and China lowered interest rates in an effort to spark consumer borrowing and spending. Interest rate cuts — and the expectation that they’ll increase economic growth and energy demand — have boosted oil prices in the past. This time, analysts said, investors are focusing most on what those moves say about the economy.“You have to ask why they are stimulating the economy in the first place,” independent analyst and trader Stephen Schork said. “We’re still in this economic malaise.”The U.S., China and Europe have instituted a number of government stimulus programs since the Great Recession, and analysts say investors are increasingly frustrated that the global economy continues to limp along.“We’re still in uncertain economic waters,” said Gene McGillian, a broker and oil analyst at Tradition Energy. “We need to see consistently better economic news, and there’s a general fear that we’re not going to see that any time soon.”Benchmark U.S. crude lost 44 cents to end the day at US$87.22 per barrel in New York — a slight drop following a jump of nearly $10 a barrel in less than a week.The U.S. Energy Information Administration reported that the nation’s supplies of oil fell by 4.3 million barrels last week. Analysts expected a decline of two million barrels, according to Platts, the energy-information arm of McGraw-Hill Cos.A drop in oil supplies usually pushes prices higher. But analysts pointed out that the U.S. has more oil on hand than in the past 22 years, and crude stocks are almost 12 per cent above the five-year average. The country also used less oil and gasoline last week, compared with a year ago.Overseas, Norway’s Statoil said that striking oil workers will force it to shut down production in the North Sea by 1.2 million barrels per day. That’s nearly as much oil lost on world markets last year during the Libyan uprising.Brent crude, which comes from the North Sea, rose by 93 cents Thursday to end at $100.70 per barrel in London. Brent crude helps set the price for oil imported into the U.S. that is used to make gasoline.In other futures trading, heating oil added nearly a penny to end at $2.768 per gallon, and wholesale gasoline rose 4.19 cents to finish at $2.7648 per gallon. Natural gas rose by 4.6 cents to finish at $2.9450 per 1,000 cubic feet.___Follow Chris Kahn on Twitter at http://twitter.com/ChrisKahnAP(TSX:ECA, TSX:IMO, TSX:SU, TSX:HSE, NYSE:BP, NYSE:COP, NYSE:XOM, NYSE:CVX, TSX:CNQ, TSX:TLM, TSX:COS.UN, TSX:CVE) read more

6 10 19

Supreme Court sides with GlaxoSmithKline in tax battle with Ottawa AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Ross Marowits, The Canadian Press Posted Oct 18, 2012 5:03 pm MDT The Supreme Court of Canada has opened the door to allowing foreign multinational corporations to dodge their Canadian tax liabilities by siding with British drugmaker GlaxoSmithKline in its 20-year tax battle with the federal government.The high court endorsed an appeals court ruling about “transfer pricing,” which allows multinationals to charge their subsidiaries high prices for ingredient costs in order to reduce Canadian profits.The Department of National Revenue had challenged Glaxo Canada’s use of a licence agreement that allowed it to pay Glaxo Swiss subsidiary Adechsa between $1,512 and $1,651 per kilogram for the purchase of ranitidine, the active ingredient in the anti-ulcer drug Zantac. Glaxo also paid parent company Glaxo Group a six per cent royalty on net sales of Zantac.The price of ranitidine exceeded the $194 to $304 per kilogram charged to Canadian generic pharmaceutical companies Apotex Inc. and Novopharm Inc. by arm’s-length suppliers.The government successfully argued in Tax Court that applying the “reasonable” charges to Glaxo Canada would have increased the subsidiary’s net income for 1990 to 1993 by $51 million.But the Federal Court of Appeal in July 2010 overturned the Tax Court’s decision and rejected the Department’s argument that fair market value paid by generics was the relevant measure. It sent the calculation back to the Tax Court for a redetermination.Writing for the Supreme Court, Justice Marshall Rothstein said in a ruling released Thursday that the Tax Court “erred in refusing to take account of the licence agreement.”“The generic comparators do not reflect the economy and business reality of Glaxo Canada and, at least without adjustment, do no indicate the price that would be reasonable in the circumstance, had Glaxo Canada and Adechsa been dealing at arm’s length.”The court declined to say whether the price paid by Glaxo Canada was fair and referred it back to the Tax Court for a recalculation.One of the relevant issues of the licence agreement not considered by the Tax Court was that Glaxo Group owned the intellectual property rights of Zantac, which commanded a premium over generics. Without the agreement, Glaxo wouldn’t have had access to the Zantac trademark or the parent company’s other products.GlaxoSmithKline welcomed the court ruling even though the Tax Court could still establish prices that boost its reported Canadian income and taxes.“We are pleased that the Supreme Court of Canada has agreed with the Federal Court of Appeal on the main appeal. As the case is still before the courts, we are not in a position to comment further,” spokeswoman Anna Robinson said in an email.Queen’s University tax law expert Art Cockfield said the ruling is a win for Glaxo and could prompt others to adopt sophisticated cross-border tax structures to shift profits to low-tax jurisdictions.“There’s massive flows going back and forth and companies have an incentive to game the system by shifting profits always to the lowest tax country,” he said in an interview from Kingston, Ont.“It’s negative for Canada because it supports aggressive international tax planning that sends revenues outside of the country.”Canada’s lower corporate tax rate than the United States could, however, insulate it from such profit shifts between companies with operations on both sides of the border, Cockfield added.Two-thirds of the $2 billion of daily trade between Canada and the United States is between related companies.The Department of National Revenue didn’t return calls seeking comment or estimates of how the Supreme Court’s ruling could potentially impact tax revenues.The Supreme Court’s ruling applies to a section of the tax code that was changed in the late 1990s. Consequently, Cockfield said it’s not clear whether other courts will use the ruling as a precedent for the principles that should apply in the new law. read more

4 10 19

TORONTO – Strong earnings reports from the consumer and information technology sectors helped push the Toronto stock market higher Thursday.The S&P/TSX composite index gained 68.76 points to 14,651.87.The Canadian dollar was down 0.08 of a cent at 91.24 cents US.U.S. indexes were higher as the Federal Reserve wrapped its two-day interest rate meeting and judged the American economy strong enough to allow further easing of the central bank’s bond purchases, cutting the monthly purchases by another $10 billion to $45 billion.The Fed also reaffirmed its plan to keep short-term interest rates low to support the economy “for a considerable time” after its bond purchases end, likely late this year.It also said that growth in economic activity has picked up recently.That assessment came on the same day that data came out showing U.S. economic growth for the first quarter fell far short of expectations as a result of severe winter weather. Gross domestic product grew by only 0.1 per cent, against the 1.2 per cent annualized gain that had been expected.The Dow Jones industrials climbed 45.47 points to a fresh record high close of 16,580.84, the Nasdaq gained 11.02 points to 4,114.56 while the S&P 500 index rose 5.62 points to 1,883.95.It was a heavy day for Canadian earnings news as Loblaw Cos. Ltd. (TSX:L) said adjusted net earnings went up by 3.7 per cent to $139 million or 49 cents a share in the first quarter, beating estimates of 46 cents. The grocer also boosted its dividend about 2.1 per cent to 24.5 cents a share and its stock was up $1.85 or four per cent to $47.65.Analysts note the positive showing comes after the company spent heavily in recent years on consultants and IT groups to put in systems to better track inventory.“So for the last two or three years, they were running kind of below expectations because of that heavy spending,” said Wes Mills, chief investment officer Scotia Private Client Group.“And that’s all behind them now, so they’re clearly better able to execute and then increasingly the focus now is on their acquisition of Shoppers Drug Mart as well.”Barrick Gold Corp. (TSX:ABX) posted a steep drop in its first-quarter adjusted net earnings to US$238 million, or 20 cents per share, from US$923 million, or 92 cents per share a year ago due to a decrease in metal prices and lower gold sales volumes. Results beat analyst estimates by a penny. Revenues were US$2.6 billion compared with $3.4 billion for the comparable year-earlier period. Its shares dipped 22 cents to C$19.13 amid lower gold prices Wednesday.The information technology sector also lifted the TSX after IT services company CGI Group (TSX:GIB.A) said adjusted net earnings were up 28.6 per cent at $229.6 million, or 72 cents per diluted share, beating analysts’ expectations of 68 cents and its shares jumped $1.44 or 3.78 per cent to $39.52. Revenues were up seven per cent to $2.7 billion.The TSX base metals sector edged 0.58 per cent higher while July copper moved five cents lower to US$3.03 a pound.The energy sector was down 0.65 cent with June crude in New York losing $1.54 to US$99.74 a barrel.The gold sector declined 0.79 per cent as June bullion ticked 40 cents lower to US$1,295.90 an ounce.In the U.S., Twitter shares plunged 9.13 per cent in New York. The social networking site’s quarterly earnings and revenue surpassed analyst expectations but investors were disappointed over Twitter’s growth in users, which came in at 255 million monthly users, about two million lower than analyst consensus. by Malcolm Morrison, The Canadian Press Posted Apr 30, 2014 6:33 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TSX up amid slew of earnings, Fed says growth in economic activity picking up The Toronto Stock Exchange Broadcast Centre is shown on June 28, 2013. THE CANADIAN PRESS/Aaron Vincent Elkaim read more

4 10 19

DETROIT – U.S. safety regulators are investigating whether a recall to fix air bags on nearly 745,000 Chrysler SUVs is working properly.The company recalled older-model Jeep Grand Cherokees and Libertys in 2012 because the air bags could inflate without a crash, causing injuries.Chrysler installed an electrical filter to eliminate electrical spikes on air bag circuits and thought that would solve the problem.But since the recall, the company has received six reports of air bags inflating without a crash on SUVs that had the recall repairs.No crashes were reported, but owners said there were some cuts and burns, according to documents posted Monday on the National Highway Traffic Safety Administration website.The safety agency says it’s investigating whether the recall is working. Chrysler says it’s co-operating but hasn’t determined whether the recall is working.The investigation affects Libertys from the 2002 and 2003 model years and Grand Cherokees from 2002 to 2004.The company says customers with concerns can call (800) 853-1403. US probes effectiveness of Chrysler air bag recall in 745,000 older Chrysler SUVs AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by The Associated Press Posted Jun 2, 2014 6:21 am MDT read more

3 10 19

BURLINGTON, Ont. – A new forecast predicts Ontario and Prince Edward Island will lead all provinces with seven per cent growth in exports this year, thanks to a resurgent auto sector, high demand in the U.S. and a low Canadian dollar.In its semi-annual outlook, Export Development Canada predicts Ontario’s automotive sector, which accounts for nearly 40 per cent of the province’s exports, will grow by 10 per cent this year, bolstered by a record-high demand for light vehicles in the United States.The EDC says Ontario’s exports of industrial machinery and equipment will rise nine per cent this year, while shipments of metals, ores and other industrial products are expected to grow by five per cent.The report says exports from Prince Edward Island are expected to grow by seven per cent, thanks to the aerospace industry.At the other end of the scale, the EDC predicts exports from Newfoundland and Labrador will drop by 11 per cent and by 10 per cent Alberta due to continuing low prices for natural gas and crude oil.The same factors are also expected to cause a six per cent drop in exports from New Brunswick and three per cent shrinkage in Saskatchewan despite strong performances by non-energy industries. The EDC predicts also exports will rise six per cent in Nova Scotia, five per cent in Quebec, four per cent in Manitoba and a modest two per cent in British Columbia.On a national basis, the federal agency predicts Canadian merchandise exports will grow at a tepid pace of just two per cent this year with negative growth in the energy, fertilizer, chemicals and plastics sectors. In 2017, the EDC predicts a gradual strengthening of natural gas and crude oil prices will steer Canadian exports toward a six per cent expansion.“High income growth, high employment, rock-bottom gas prices and considerable pent-up demand caused by post-recession thrift are all combining south of the border to create the perfect recipe for demand,” said EDC chief economist Peter Hall.“This is having a considerable impact on Ontario’s exports, and we expect that demand to continue going forward, not just in the auto industry but most sectors of Ontario’s economy.”The EDC is a Crown corporation which provides financing to help Canadian companies invest in international business opportunities. by The Canadian Press Posted Apr 26, 2016 2:43 am MDT Last Updated Apr 26, 2016 at 7:40 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Ontario, PEI exports to grow seven per cent this year says EDC read more

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Queen outlines UK government agenda in scaled-down speech LONDON – Queen Elizabeth II outlined the government’s legislative program in a speech to Parliament on Wednesday after the prime minister slimmed down her plans and promised “humility” in negotiating Britain’s exit from the European Union following a disastrous election that cost the ruling Conservative Party its majority.The 91-year-old monarch carried on with her royal duties at the ceremonial opening of the new Parliament despite the announcement that her husband, Prince Philip, had been hospitalized. Buckingham Palace said Philip, 96, has been hospitalized as a precaution for treatment of an infection.His rare absence from the State Opening of Parliament added to the solemnity of an occasion cherished by the British people and replete with tradition. While the queen reads the Queen’s Speech to lawmakers, it is written by the prime minister and her staff and offers a broad brush of goals for the future.The nine-minute speech reflected May’s weakened position — a loss of stature that has emboldened those within her own party who want a “softer” Brexit which makes a less-sharp break with the EU.Eight of 27 bills outlined in the speech deal with the complex process of Brexit. May omitted several policies touted in the Conservative election campaign, including plans to change funding for the care of older people, which opponents dubbed the “dementia tax.” Also missing was ending free school lunches and limiting winter fuel payments to low-income elderly.Nor was there a mention of President Donald Trump’s a state visit. May’s invitation, extended with days of Trump taking office, had been sharply criticized by all parties.May’s Downing Street office said nothing had changed: an invitation had been extended and accepted. It was not mentioned in the speech was because no date had been set, May’s office said.Tempted a big lead over the opposition Labour party in opinion polls, May had called the snap election expecting an overwhelming victory that would silence dissenters and give her a mandate to push ahead with plans to leave the European Customs Union and drastically limit immigration as Britain leaves the EU. Instead, she lost seats and still hasn’t secured a deal with another party to insure Parliament will back the government’s agenda.“The election result was not the one I hoped for, but this government will respond with humility and resolve to the message the electorate sent,” May said in a statement. “We will work hard every day to gain the trust and confidence of the British people, making their priorities our priorities.”Signalling the importance of Brexit negotiations with the EU, set to continue until the spring of 2019, the speech set out the government’s program for two years, rather than one.The prime minister, who had campaigned with the slogan “Brexit means Brexit,” softened her tone in comments released ahead of the speech.“First, we need to get Brexit right,” she said. “That means getting a deal which delivers the result of last year’s referendum and does so in a way that commands maximum public support.”Even before news of Prince Philip’s illness, the government had announced that the speech would be delivered with less pageantry than normal a result of the timing of the snap election. For instance, the queen arrived at Parliament in a car, rather than a horse-drawn carriage, and delivered the speech in everyday dress, instead of the traditional royal robes.The primary issue was scheduling. The state opening took place only days after another huge annual event, Trooping the Color, a celebration of the queen’s birthday. Both ceremonies take weeks of preparation and planning, and it was deemed too difficult to prepare for two such events so close together. by Danica Kirka, The Associated Press Posted Jun 21, 2017 3:17 am MDT Last Updated Jun 21, 2017 at 8:33 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Britain’s Queen Elizabeth II delivers the Queen’s Speech during the State Opening of Parliament in the Houses of Parliament in London on June 21, 2017. Queen Elizabeth II will formally open parliament and announce the British government’s legislative programme on Wednesday, two days later than planned. The state opening, a ceremony full of pomp in which the monarch reads out the Queen’s Speech detailing the government’s programme for the coming year, was due to take place on June 19, but was delayed after Britain’s Prime Minister Theresa May’s Conservative party lost their majority in the House of Commons in the June 8 election. / AFP PHOTO / POOL / Carl Court (Photo credit should read CARL COURT/AFP/Getty Images) read more

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KANSAS CITY, Kan. – Attorneys: Kansas federal jury awards nearly $218M to farmers who sued Syngenta over genetically engineered corn seed.!O??? Attorneys: Kansas federal jury awards nearly $218M to farmers who sued Syngenta over genetically engineered corn seed by The Associated Press Posted Jun 23, 2017 9:52 am MDT Last Updated Jun 23, 2017 at 10:20 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more