Hamilton police investigating 2 targeted home invasions

Hamilton police are investigating two separate home invasions that happened over the weekend in the city.On Saturday evening, police were called to a home near Upper Horning Rd. and Mohawk St.Officers found a man suffering from non-life-threatening injuries. Police learned the victim had invited a man to his home and it’s believed that person allowed another man inside.During the incident, one of the suspects pulled out a black handgun. Police are looking for two men who are described as white and roughly six-foot-one. One of the men had a thin build, dark hair, and was wearing a black jacket. They were both seen leaving in a red Jeep Compass.The second incident happened just before 3 p.m. on Sunday. Police were called to a home near Limeridge Rd. West and West 5th St.Police say three men broke into a home where a woman, her child and a man were inside. The child was not physically hurt during the incident but the man and woman suffered non-life threatening injuries. Police say the victims are not cooperating.Investigators say both home invasions were targeted and anyone with information can contact Hamilton police or Crime Stoppers. read more

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Most actively traded companies on the TSX

Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (16,494.23, up 10.02 points).Bombardier Inc. (TSX:BBD.B). Down eight cents, or 3.64 per cent, to $2.12 on 9.5 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Up 63 cents, or 2.89 per cent, to $22.46 on 8.4 million shares.Encana Corp. (TSX:ECA). Energy. Down 14 cents, or 2.4 per cent, to $5.70 on 6.2 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 63 cents, or 6.51 per cent, to $9.05 on 5.9 million shares.New Gold Inc. (TSX:NGD). Materials. Down 11 cents, or 5.64 per cent, to $1.84 on 5.6 million shares.CannTrust Holdings Inc. (TSX:TRST). Health care. Up 10 cents, or 2.67 per cent, to $3.84 on 5.5 million shares.Companies in the news:Aimia Inc. (TSX:AIM). Up seven cents to $3.84. Grupo Aeromexico is reviewing its partnership with Aimia Inc., the latest problem for the loyalty analytics company which is facing a fight with a group of its shareholders. The Mexican airline says it is “re-evaluating all aspects of its customer loyalty strategy.” Aeromexico holds a 51.9 per cent stake in PLM Premier which runs Club Premier, the airline’s frequent flyer program. Aimia holds the remaining stake.Canadian Natural Resources. (TSX:CNQ). Down 87 cents, or 2.5 per cent to $33.88. The Alberta Liabilities Disclosure Project says the province’s largest oil and gas companies are underestimating how much it will cost to clean up thousands of oil and gas wells drilled over past decades. The coalition of landowners, environmentalists and others is unveiling a list of companies and its estimate of how much it would cost each to remediate its properties if it had to be done today. It says those costs are much higher than the companies estimate because they are assuming they will have decades of cleanup time. The coalition says Calgary-based Canadian Natural Resources Ltd. is facing the largest bill at $11.9 billion to clean up 73,000 oil, gas and bitumen wells in Alberta.The Canadian Press read more

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Trump appoints student loan industry exec to watchdog job

NEW YORK — The Trump administration is appointing a long-time student loan industry executive to be the government’s top watchdog for the $1.5 trillion student loan market.Robert Cameron will serve as the Consumer Financial Protection Bureau’s new student loan ombudsman, a job designed to protect student loan borrowers from poor industry practices in the student loan industry.Cameron most recently worked at the Pennsylvania Higher Education Assistance Agency, better known as Fed Loan Servicing, as their head of compliance. PHEAA has been cited for poor industry practices, most notably for how it has handled the Public Service Loan Forgiveness program.The student loan ombudsman position has been vacant for over a year. The previous occupant, Seth Frotman, quit in protest of the Trump administration’s handling the issue of student loans.Ken Sweet, The Associated Press read more

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Tire shops flooded with calls following weekend snowstorm

CALGARY (660 NEWS) – If you haven’t installed winter tires on your vehicle yet, you’ll have to wait a few weeks.Tire shops have been overwhelmed with calls since the weekend snowfall hit Calgary. That includes Country Tire Automotive on Edmonton Trail.Manager Kelly Hill said Monday was one for his company’s history books.“To be honest, it was the busiest day, as far as the phone traffic went that I’ve seen in the 19 years we’ve been open.”Hill said the call counter registered 1,800 calls to his shop.“Some people even left messages, some people they called and left no messages, there was just that many phone calls coming in. I imagine a lot of it was not even our normal customer base, it was just people phoning around, panicking just to get in anywhere.”Thankfully, the calls slowed down once the weather improved Monday afternoon.Hill said they normally take in about 40 customers a day but are now booking into next Tuesday. read more

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Finance ministers to press Morneau about opting out of controversial tax change

OTTAWA — Finance ministers from at least two provinces are planning to question their federal counterpart Bill Morneau about whether they can opt out of Ottawa’s plan to implement a controversial tax change.The country’s finance ministers will gather in Ottawa today to discuss a range of issues — from the state of the economy, to federal equalization payments, to the escalating threats of U.S. protectionism.Manitoba’s Cameron Friesen and Saskatchewan’s Donna Harpauer say they will also press Morneau about a tax change he first announced last year that’s related to passive investment income held by incorporated individuals.Both Friesen and Harpauer say Morneau has told them each province must choose whether to implement his tax change — and they want to know how complicated it would be if they ultimately decide not to follow Ottawa’s lead.The government has argued the tax change on passive investment income will only affect the top three per cent of the wealthiest incorporated individuals — but critics have warned it will unfairly pile on significant costs for small business owners.Canadian Federation of Independent Business president and CEO Dan Kelly says he’s been lobbying provinces not to follow Ottawa’s lead on the passive-income change because he argues it will hurt small businesses and damage economic growth.Friesen said in an interview Monday that the Manitoba government was a “powerful critic” of the first version of Morneau’s tax reform plan, which Ottawa later watered down following a backlash that included small business owners and incorporated professionals, such as doctors and lawyers.He said Morneau has been clear that the provinces can choose whether they want to be integrated with Ottawa on the tax change.But the issue and how to go about opting out is very complex, he added.“We are trying to understand more what it is the federal government is permitting here,” he said.“And we’re trying to understand, also, the timeline that will be necessary to undertake, to understand, what are our options.”Kelly said the passive-income tax change will require the provinces to make legislative changes of their own in order for them to follow suit with Ottawa.The change, which will take effect in 2019, is projected to add $2.3 billion to government coffers over five years, but Ottawa has insisted the effort was not about generating more revenue.Morneau’s office has maintained it was about ensuring wealthy individuals do not have an incentive to incorporate, just so they can get a better tax rate than people in the middle class. read more

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Corus stock drops 11 after slashing dividend reporting 9359 million loss

TORONTO — Corus Entertainment Inc. shares were down 11 per cent early Wednesday after the company announced a $935.9 million loss tied mostly to a devaluation of its broadcast licences and slashed its dividend to accelerate debt reduction.The company’s B shares were at $5.56 in the first minutes of trading, down 69 cents or 11 per cent from Tuesday’s close and equal to their previous 52-week low on the Toronto Stock Exchange.The Toronto-based television, radio and production company said the loss included a $1.01-billion non-cash impairment charge related to broadcast licences and goodwill.Impairment charges generally reflect the future earning power of a business’s assets. Excluding those and other expense items, Corus would have had a profit in the three months ended May 31.The reduced dividend will divert about $150 million per year to reducing Corus debt — a move that management said would give it more financial flexibility in the long-term.Corus chief executive Doug Murphy told analysts that the company has a long-term strategy for rebuilding its business in turbulent times, amid intense competition, changing technologies and an uncertain regulatory landscape.“While our immediate focus will be on debt reduction payments, we will continue to make prudent investments that support our strategic priorities to ensure our company remains vital for the long term,” Murphy said. Corus said Wednesday it will start paying a quarterly dividend of six cents per class B share starting in September compared with its current dividend which is a monthly payment to shareholders of 9.5 cents per class B share.The reduction in the dividend came as Corus says the loss amounted to $4.49 per share for the quarter ended May 31 compared with a profit of $66.7 million or 33 cents per share a year ago.Revenue in what was the company’s third quarter totalled $441.4 million, down from $461.6 million in the same quarter last year.Television revenue fell to $403 million compared with $422.3 million a year ago, while radio revenue fell to $38.4 million compared with $39.3 million in the same quarter last year.On an adjusted basis, which excludes the impairment charge and other one-time items, Corus says it earned $78.1 million or 37 cents per share for the quarter compared with an adjusted profit of $70.1 million or 35 cents per share a year ago. Analysts on average had expected a profit of 36 cents per share, according to Thomson Reuters Eikon.Corus owns radio stations as well as conventional and specialty television services across the country including Global Television. read more

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Its a zoo out there

Norfolk County is looking for accountability when it comes to wild animals and their potential impact on local residents.Delhi Coun. Mike Columbus raised the issue this week after he was asked to deal with an animal complaint recently near the dividing line between Delhi-area Ward 3 and Waterford-area Ward 7.“I wish I could’ve pushed it across the borderline,” Columbus told council Tuesday. “It involved a skunk.”Columbus noted that a void has been created now that the Ontario Society for the Prevention of Cruelty to Animals has stopped investigating animal abuse and neglect complaints.With the OSPCA on the sidelines, Columbus feels it is only a matter of time before the public starts asking the municipality to intervene.“These things are falling through the cracks,” Columbus said. “It’s the same with raccoons.”Residents often call police or canine control when they see a wild animal behaving erratically in their neighbourhood.The Haldimand-Norfolk Health Unit tracks instances of rabies and other serious diseases that can be transmitted to humans but does not offer front-line assistance where wildlife is concerned.Columbus contacted the Ministry of Natural Resources and Forestry about the skunk. He received instructions to secure the animal and send its brain away for testing if possible.The Norfolk OPP will intervene when wild animals pose an immediate threat to public safety. Otherwise, police defer to other agencies.Waterford Coun. Kim Huffman, a council representative to Norfolk’s Police Services Board, said the Norfolk OPP responded to nearly 300 complaints in this area last year.However, Huffman added that “The OPP are really not equipped to deal with raccoons wandering through neighbourhoods. It’s not part of their mandate.”Port Dover Coun. Amy Martin would like a reliable mechanism in place to deal with animal complaints. Coyote incursions into Port Dover have become increasingly frequent in recent years.“This is a concern for a lot of residents who feel they’re getting the run-around,” Martin said.Wildlife rescues in the Norfolk area and beyond have received numerous calls in recent months about raccoons in distress or behaving strangely.In a recent interview, Denise Boniface, manager of BryDen’s Den Wildlife Rehabilitation Centre in Port Ryerse, said she is not equipped or trained to deal with diseased animals.Boniface says the large number of sick raccoons is due to an epidemic of distemper sweeping through the population. When wildlife populations reach the peak of their reproductive cycle, disease thins their numbers because they are in such frequent contact with each other.Council referred the matter to Marlene Miranda, acting CAO and Norfolk and Haldimand’s general manager of health and social services, as an “action item.” Miranda will look into potential responses and report back.“It would be wonderful to have this conversation before our summer break,” said Simcoe Coun. Ian Rabbitts.MSonnenberg@postmedia.com read more

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Lauding progress in Côte dIvoire Security Council voices concern at instability

“The Security Council is convinced that a lasting solution to the problems of the sub-region also requires genuine cooperation among all States concerned, together with confidence-building measures and the personal commitment of Heads of State in the sub-region,” the Council President for July, Ambassador Inocencio F. Arias of Spain, said in a statement after an open meeting.The statement stressed that much remained to be done to fully implement the Linas-Marcoussis Agreement, a French-brokered peace accord reached in January that calls on the Government, rebels and political opposition in the West African country to share power in a transitional administration until elections in 2005.“The Security Council reiterates the need for Ivorian political forces to implement fully and without delay all the provisions of the Linas-Marcoussis Agreement, as well as those of the agreement signed in Accra on 8 May 2003 (“Accra II”), with a view to open, free and transparent elections being held in 2005,” the presidential statement declared.It noted with satisfaction the formation of a government of national reconciliation and the progress made, particularly the identification of cantonment areas and the delegation of powers to the Prime Minister, and looked forward to new progress.The statement also called on Ivorian political forces to redouble their efforts in the following areas: voting for the amnesty bill submitted to the National Assembly by the Government, the complete implementation of a “disarmament, demobilization and reintegration” programme, extension of public services and the authority of the State to areas still under control of the Forces Nouvelles, the appointment of ministers for defence and interior security, the guarantee of equal security for all ministers, the dismantling of militias throughout the country and the termination of the activities of mercenaries and of the purchase of weapons.The Council reiterated its full support for the efforts of the Economic Community of West African States (ECOWAS) and France in contributing to a peaceful solution of the crisis, welcoming in particular the satisfactory deployment of their peacekeeping forces in the western part of the country to support implementation of the ceasefire.It also called on Member States to continue to respond to the appeal made at the donors’ conference in Paris on 18 July to provide logistic and financial support to the ECOWAS Mission in Côte d’Ivoire so that it can continue to fulfil its important mandate, and it invited donor countries to contribute to the reconstruction of the country.At the outset of the meeting, Prime Minister Seydou Elimane Diarra briefed the Council on the latest developments in Côte d’Ivoire since the signing of the Linas-Marcoussis Agreement and the formation of the National Reconciliation Government, reiterating his gratitude to Secretary-General Kofi Annan for his tireless support to the process of restoring peace to the country.Mr. Diarra noted that he had undertaken contacts with the country’s President and political forces on the appointment of the ministers of defence and security. Once he returned from New York, he would take up the initiative to address that issue, in order to have a full government. The Government was working normally and the functions of the ministers of defence and security were being carried out, he added.As to the next steps, the Prime Minister mentioned the extension of phase 3 of security throughout the country, and financing for the ECOWAS mission, the disarmament, demobilization and reintegration programme, the redeployment of administration through the territory, and the provision of education and health services. The holding of fair, transparent and open elections would require assistance, as would humanitarian activities and the creation of employment. At the sub-regional level, the resolution of the Liberian conflict was crucial. A robust campaign against poverty reduction was also vital to providing stability, not only in Côte d’Ivoire, but also in the entire sub-region, he added. read more

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UN green meeting agrees to defer decision on pesticide exemption

According to the UN Environment Programme (UNEP), the delegates agreed they needed more time to work out exactly what exemptions farmers in the developed world should have for using methyl bromide, a chemical used to kill pests such as nematode worms.At a meeting of the Parties to the Montreal Protocol on Substances that Deplete the Ozone Layer, held at UNEP’s Nairobi headquarters, delegates discussed the scheduled phasing out by January 2005 of methyl bromide, which depletes the world’s ozone layer.North American and European farmers, especially in the strawberry, melon, pepper and tomato growing industries, have argued for an exemption allowing about 15,000 tons of methyl bromide to be consumed in 2005, according to UNEP. They say the available alternatives are not yet technically or economically feasible for use.The delegates decided to press again for consensus at an extraordinary meeting on the issue in March next year in Montreal.UNEP Executive Director Klaus Toepfer said the delegates “felt they needed more time to find an agreement which balances the interests of farmers and other users of methyl bromide with international agreements to repair the Earth’s protective shield.” read more

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Sudan UNappointed probe into possible genocide in Darfur gets underway

The five-member commission, established by Secretary-General Kofi Annan last month in accordance with Security Council resolution 1564, plans to be in the country until 21 November and will meet with representatives of the Government, international agencies and civil society groups as well as travel to Darfur, a vast and impoverished region in western Sudan. About 1.45 million people are internally displaced within Darfur, where Janjaweed militias are accused of killing and raping thousands of villagers after local rebel groups took up arms against the Sudanese Government. Another 200,000 are living as refugees in neighbouring Chad. The Commission’s mandate is to “investigate reports of violations of international humanitarian law and human rights law in Darfur by all parties, to determine also whether or not acts of genocide have occurred and to identify the perpetrators of such violations with a view to ensuring that those responsible are held accountable.” An independent body, it is supported by the Office of the UN High Commissioner for Human Rights, which is providing the secretariat, legal research team and investigative team. It has three months to complete its work and report back to Mr. Annan. Its members include Antonio Cassese, an Italian judge and professor who is the chairman; Mohammed Fayek of Egypt; Hina Jilani of Pakistan; Dumisa Ntsebeza of South Africa and Therese Striggner-Scott of Ghana. Meanwhile, the UN mission in Sudan reported that all major roads in South Darfur remain closed to UN movement. Following destruction of the Al Geer camp from 3 to 5 November and the forced relocation of its residents, humanitarian agencies remain concerned about the protection of those who returned to Al Geer and those who dispersed to Nyala town. The UN World Food Programme (WFP) says it has carried out food distribution to camps in Nyala town and they have requested permission to distribute food to those dispersed from the now-destroyed Al Geer camp. read more

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Debt repayments are crippling poor countries efforts to fight HIVAIDS – UN

Launching a publication at UN Headquarters in New York about how women in the least developed countries (LDCs) cope with HIV/AIDS, Anwarul K. Chowdhury, Under-Secretary-General and High Representative for the LDCs, Landlocked Developing Countries and Small Island Developing States, said “an unsustainable debt burden” meant some nations – such as Senegal, Malawi, and Sao Tome and Principe – must give about 30 per cent of their public income to repayments each year.”It is a critical challenge for those countries as they are forced to choose between servicing their debts and investing in health and education and tackling poverty and HIV/AIDS, which are essential for building and developing their human and institutional capacity,” Mr. Chowdhury told a panel discussion at the launch.The world’s 50 LDCs spent an estimated $5.1 billion in 2002 just on servicing their debts, he added.Mr. Chowdhury said many women in poor States also face a personal dilemma in how they divide their time between nursing the sick and themselves on one hand, and earning a livelihood for their families and households on the other.The Under-Secretary-General called for an aggressive international commitment to ensure that LDCs have the greatest possible chance of fighting HIV/AIDS and other problems that limit their development.The panel discussion also heard from HIV/AIDS activists about their personal experiences of the disease and the importance of breaking taboos in some cultures and societies that prevent people from talking about it.The report, published by Mr. Chowdhury’s office and the UN Development Programme (UNDP), is entitled Hope: Building Capacity: Least Developed Countries Meet the HIV/AIDS Challenge. read more

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Tanzania to close camp as Burundian refugees return home UN says

Some 5,500 Burundian refugees in Tanzania will be relocated to another camp towards the end of this month as part of plans to consolidate camps amid the ongoing Burundi repatriation operation, the United Nations refugee agency said today.The Tanzanian Government is set to close Karago camp, one of nine camps for Burundian refugees in northwestern Tanzania, in the next few weeks, said UNHCR’s Jennifer Pagonis today in Geneva. The 5,500 refugees will be moved to the neighbouring Mtendeli camp, where they will receive the same assistance.“Under a tripartite agreement with UNHCR and Burundi, the Tanzanian authorities agreed that all camps with a refugee population under 10,000 refugees would be closed,” she said, adding that the programme is an attempt to consolidate camps that empty out with the departure of Burundian refugees for home.“We hope to facilitate the voluntary repatriation of about 85,000 Burundian refugees from Tanzania in 2005,” she said. In the first three months of this year, UNHCR helped 7,800 refugees return home. Concerns among the refugees over the availability of basic services in their home country and the peace process partially explain the drop in repatriation numbers.Funding is also a key constraint for the operation. Of the $62.3 million needed for the repatriation programme this year, donors have so far provided only some $8.5 million, or just 14 per cent.More than 158,000 Burundian refugees have returned home with UNHCR’s assistance since the voluntary repatriation programme from Tanzania began in March 2002. More than half those returns – 83,000 – took place in 2004, with numbers decreasing towards the end of the year. The year-end decline was mainly due to uncertainty among the refugees about the security situation in Burundi ahead of the February referendum. read more

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Fighting forces UN to evacuate seven staff from South Darfur Sudan

The fighting has continued and clashes have also taken place in areas of Jabal Marra in central Darfur, according to UNMIS.In another development, the mission reported that a person reported missing following yesterday’s helicopter crash in Jabal Marra had been later confirmed dead. None of the injured passengers, who were on a humanitarian mission when the accident occurred, had to be taken to Sudan’s capital, Khartoum, for medical treatment.Meanwhile, the UN Development Programme (UNDP) in Sudan has helped the Government of National Unity launch a project under its Transfer of Knowledge through Expatriate Nationals programme encouraging them to volunteer their expertise for short periods.The programme will encourage various Sudanese institutions to bring interested expatriate Sudanese professionals to Sudan to share their skills and expertise for up to eight-week periods. UNDP will cover the expatriates’ travel expenses and provide a living allowance in Sudan.First implemented in Turkey in 1977, the programme has since been expanded to include more than 25 countries, including India, Pakistan, China, the Philippines, Poland, Bosnia-Herzegovina, Vietnam, Lebanon, Syria, Senegal, and Nigeria. read more

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With UN support construction of new housing units begins in Serbia

Top government and civil society leaders have formally laid the first foundations of new homes under a housing and social integration programme for tens of thousands of war refugees and other vulnerable people in Serbia being supported by the United Nations Human Settlements Programme (UN-HABITAT). The programme aims to provide some 670 new homes for 3,000 refugees and vulnerable people, to build institutional capacities for social housing development, assist the social and economic integration of refugees and displaced people, and help boost the development capacity of local governments in their development planning and municipal information systems, the agency said in a press release. Special ceremonies were held in the municipality of Niš on 9 August, following others in different areas, where senior government and local officials were at hand to witness the start of the initiative. The Settlement and Integration of Refugees Programme in Serbia is a three-year effort being funded by the Government of Italy. read more

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Most actively traded companies on the TSX TSX Venture Exchange markets

by News Staff Posted Jun 29, 2012 4:56 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Most actively traded companies on the TSX, TSX Venture Exchange markets TORONTO – Some of the most active companies traded Friday on the Toronto Stock Exchange and the TSX Venture Exchange:Toronto Stock Exchange (11,596.56, up 171.86 points):Progress Energy Resources Corp. (TSX:PRQ). Oil and gas. Up two cents, or 0.1 per cent, at $20.07 on 15,878,469 shares.Research In Motion Ltd. (TSX:RIM). Technology. Down $1.92, or 20.3 per cent, at $7.54 on 8,418,038 shares. RIM reported disappointing earnings, cut 5,000 jobs and delayed the release of its new smartphones.Martinrea International Inc. (TSX:MRE). Manufacturing. Up seven cents, or 0.88 per cent, at $8 on 7,177,728 shares.Manulife Financial Corp. (TSX:MFC). Insurance. Up 32 cents, or 2.97 per cent, at $11.09 on 6,433,775 shares.Ivanhoe Mines Ltd. (TSX:IVN.RT). Miner. Up 10 cents, or 12.20 per cent, at 92 cents on 5,259,024 shares.BlackPearl Resources Inc. (TSX:PXX). Oil and gas. Up one cent, or 0.33 per cent, at $3.01 on 5,174,516 shares.TSX Venture Exchange (1,190.99, up 26.53 points):Barkerville Gold Mines Ltd. (TSXV:BGM). Miner. Up 40 cents, or 49.38 per cent, at $1.21 on 7,195,569 shares.Lions Gate Energy Inc. (TSXV:LG). Oil and gas. Up 0.5 cents, or 6.25 per cent, at 8.5 cents on 3,819,050 shares.Companies reporting major news:Canadian Pacific Railway (TSX:CP). Railway. Up $1.20, or 1.63 per cent, at $74.72 on 596,349 shares. CP named Hunter Harrison as its new president and chief executive officer. read more

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With economy weak low rates needed until at least late 2013 IMF

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by The Canadian Press Posted Dec 19, 2012 9:59 am MDT OTTAWA – The International Monetary Fund is telling the Bank of Canada to hold off on monetary tightening until the economy performs better.The IMF says in a new report on Canada that the economy slowed in 2012 and will underperform again in 2013 with sub-two-per-cent growth.The Washington-based international financial institution says the best case scenario suggests growth should perk up in late 2013, at which time higher interest rates might be warranted.But it cautions that as modest as its appraisal is of Canadian economic prospects, all the risks are still tilted toward a worse — not better — result.It says if the worst does happen, there is still some space for monetary easing to occur — that is for the Bank of Canada to lower interest rates even further.Similarly, while the IMF says Canadian governments are taking the correct actions in seeking to rein in deficits, they should also be prepared to reverse course to new spending stimulus if an adverse shock were to occur.Barring any unforeseen circumstances, the IMF says Canada’s economy should advance by just under two per cent in 2013 and at about 2.25 per cent in 2014. With economy weak, low rates needed until at least late 2013, IMF tells Canada read more

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Majority of Canadians want to invest more but say they cant afford

TORONTO – A majority of respondents to a new poll about retirement savings feel they haven’t invested enough but say they just don’t have the extra money to put away.The annual survey by Scotiabank found that 64 per cent of those polled cited affordability as an obstacle for them to invest in their RRSPs by the March 1 contribution deadline.That figure is up this year from 59 per cent in 2011 and 53 per cent in 2010.The poll also found that 81 per cent say they haven’t invested enough, compared with 76 per cent in 2011 and 71 per cent a year earlier.Only 17 per cent of those polled say they don’t have any investments at all, compared to 21 per cent last year.Mike Henry, Scotiabank’s senior vice-president and head of retail payments, deposits and lending, urges people who are serious about investing to come up with a financial plan.“Within the framework of a good financial plan, even small contributions can have a big impact over time and get people to the place they want to be financially,” he said in a release.The survey also found that 39 per cent say they wish they had invested at an earlier age, with 23 per cent agreeing that in retrospect, they would’ve spent less and contributed more to their investments.Of those who do have retirement investments, 51 per cent started setting aside money before they turned 30 years old.The poll also found that savings accounts or mutual funds (64 per cent) were still the most popular vehicle for putting away money, followed by RRSPs (56 per cent) and tax-free savings accounts (44 per cent).The poll was conducted online using a Harris/Decima propriety panel that surveyed 1,003 people from a random sample of adults aged 18 and over from across Canada.The survey was conducted from Nov. 28 to Dec. 13, 2012. by The Canadian Press Posted Jan 15, 2013 10:36 am MDT Majority of Canadians want to invest more, but say they can’t afford it: poll AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

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ExxonMobils 31B bid for Celtic Exploration approved by industry minister

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Lauren Krugel, The Canadian Press Posted Feb 20, 2013 7:59 pm MDT ExxonMobil’s $3.1B bid for Celtic Exploration approved by industry minister CALGARY – Celtic Exploration Ltd. (TSX:CLT) said Wednesday it has Ottawa’s approval to be taken over by Houston-based energy heavyweight ExxonMobil Corp. for $3.1 billion.The approval under the Investment Canada Act means that no further regulatory approvals are required. The deal is expected to be completed Feb. 26.The Investment Canada Act is the same legislation under which the Conservative government approved Chinese state-owned CNOOC Ltd.’s $15.1-billion takeover of Nexen Inc. in December.When Prime Minister Stephen Harper announced that decision, along with an approval of a $6-billion takeover of Progress Energy Resources by Malaysia’s Petronas, he signalled a change in Ottawa’s foreign investment rules.From now on, control of oilsands companies by foreign state-owned enterprises will only be allowed under “exceptional circumstances.”Critics charge that the rules are still too vague.Imperial Oil Ltd. (TSX:IMO), a Calgary-based company about 70 per cent owned by ExxonMobil, has said it will exercise its option to invest $1.55 billion for a 50 per cent stake in Celtic.Imperial’s involvement takes effect right after the transaction closes.The deal, announced last October, will see Exxon add lucrative natural gas liquids to its portfolio through the control of about 221,000 hectares in the Montney formation in B.C. and Alberta and 42,000 hectares in the emerging Duvernay shale in Alberta.Current production on that land is 72 million cubic feet per day of natural gas and 4,000 barrels per day of condensate and natural gas liquids.The assets were estimated by Celtic as of Dec. 31, 2011, to include 128 million oil equivalent barrels of proved plus probable reserves, of which 24 per cent are condensate and natural gas liquids and 76 per cent natural gas.Separately, Imperial and ExxonMobil have discussed building a liquefied natural gas export facility on Canada’s West Coast to enable the fuel to reach more lucrative Asian markets.ExxonMobil made a big move into natural gas in late 2009 when it announced an eye-popping US$41-billion acquisition of U.S. natural gas giant XTO. read more

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Rocker Neil Young continues criticism of Keystone XL at FarmAid

Rocker Neil Young continues criticism of Keystone XL at Farm-Aid by News Staff Posted Sep 21, 2013 3:42 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Neil Young is continuing his verbal assault on the Alberta oilsands.Young called the oil the dirtiest in the world this weekend at the annual Farm-Aid Concert in Saratoga Springs, New York.He touched on Fort McMurray while telling a story about a cross-country drive he took in his electric car, bringing up the subject in support of farmers on the front line of climate change.“The farmer wakes up in the morning and figures out ‘what the hell can I do with this mess now?’” he said. “This fuel is going to be shipped to China and Asia, don’t think this fuel is for America, it’s not.”“The reason I am talking about that ugly situation is because the farmers again are the solution to the problem.”Earlier this month, Young compared Fort McMurray to post-apocalyptic Hiroshima.“They have the dirtiest oil in the world, where the Keystone pipeline is going to originate and cut through our country through our back lawns and through our farms all the way to a free trade zone in Port Arthur, Texas,” Young said.Premier Alison Redford recently dismissed Young’s criticism, along with those of actor Robert Redford this month, saying it shouldn’t come as a surprise to anyone and that we need to have a conversation on facts.“I’ve really got to question how people who are using energy flying on planes can make these sorts of comments and assume that they are going to have any credibility,” Redford said Tuesday.Young called the oil the dirtiest in the world this weekend at the annual Farm-Aid Concert in Saratoga Springs, New York.He touched on Fort McMurray while telling a story about a cross-country drive he took in his electric car, bringing up the subject in support of farmers on the front line of climate change.“The farmer wakes up in the morning and figures out ‘what the hell can I do with this mess now?’” he said. “This fuel is going to be shipped to China and Asia, don’t think this fuel is for America, it’s not.”“The reason I am talking about that ugly situation is because the farmers again are the solution to the problem.”Earlier this month, Young compared Fort McMurray to post-apocalyptic Hiroshima.“They have the dirtiest oil in the world, where the Keystone pipeline is going to originate and cut through our country through our back lawns and through our farms all the way to a free trade zone in Port Arthur, Texas,” Young said.Premier Alison Redford recently dismissed Young’s criticism, along with those of actor Robert Redford this month, saying it shouldn’t come as a surprise to anyone and that we need to have a conversation on facts.“I’ve really got to question how people who are using energy flying on planes can make these sorts of comments and assume that they are going to have any credibility,” Redford said Tuesday. read more

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Oil rises on pipeline expansion news market ignores supply data govt shutdown

by The Associated Press Posted Oct 2, 2013 8:43 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Oil rises on pipeline expansion news; market ignores supply data, govt shutdown NEW YORK, N.Y. – The price of oil rose the most in two weeks Wednesday on the prospect of more oil being shipped between a key Midwest hub and the U.S. Gulf Coast.Benchmark West Texas Intermediate crude for November delivery rose $2.06, or two per cent, to close at US$104.10 a barrel on the New York Mercantile Exchange.Reports said that TransCanada Corp. (TSX:TRP) is close to completing work on the southern portion of its Keystone pipeline expansion. That could mean as much as 700,000 barrels a day moving out of Cushing, Okla., the pricing point for U.S. benchmark oil. The additional demand is seen as positive for oil prices.The market shrugged off a report from the U.S. Energy Department showing bigger than expected increases in U.S. oil and gasoline supplies. It also ignored, at least for a day, the partial shutdown of the U.S. government.Demand for oil in the U.S. could weaken if the shutdown curbs economic growth and continues to stop 800,000 federal workers from commuting. The workers were furloughed after U.S. lawmakers failed to agree on a budget measure to fund government operations after the fiscal year ended Monday.Brent crude, a benchmark used to price imported crude used by many U.S. refineries, gained $1.25 to US$109.19 in London.In other energy futures trading on Nymex, wholesale gasoline rose two cents to US$2.63 a U.S. gallon (3.79 litres), heating oil rose four cents to US$2.99 a gallon and natural gas dropped seven cents to US$3.54 per 1,000 cubic feet.(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

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