Hamilton has its 10th shooting of the year

A man in his 20’s was shot at a bar in downtown Hamilton. Hamilton Police established a task force to combat the sharp rise of gun violence in the city. Shots rang out inside of Boulevard Billiards on York Bloulevard at Queen Street. Police say a man in his 20’s was shot and taken to the hospital and is expected to survive. While some say the bar is a fun and inviting place others say the Billiards bar, which shares a building with Tonic night club is rowdy and unsafe. The businesses next to the Billiards bar and even businesses across the street say this is very concerning. This is the city’s 10th shooting of the year. Police have put together a task force to help combat gun violence and drug trafficking after an alarming increase of incidents. Hamilton police have not released any details about the attacker who fled the scene. read more

Most actively traded companies on the TSX

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:Toronto Stock Exchange (16,045.94, down 304.90 points).Manulife Financial Corp. (TSX:MFC). Financial. Down 41 cents, or 1.83 per cent, to $21.96 on 8.6 million shares.B2Gold Corp. (TSX:BTO). Materials. Down three cents, or 0.63 per cent, to $4.77 on 7.5 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Up 24 cents, or one per cent, to $24.21 on 6.7 million shares.Enbridge Inc. (TSX:ENB). Energy. Down $1.86, or 4.09 per cent, to $43.62 on 6.4 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Down four cents, or 2.29 per cent, to $1.71 on 6.3 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 72 cents, or 8.16 per cent, to $8.10 on 5.9 million shares.Companies in the news:Metro Inc. (TSX:MRU). Up 29 cents to $53.75. Metro Inc. will fast-track the deployment of technology such as self-service checkouts and electronic shelf labels to its stores in an effort to lower labour costs, the grocer’s chief executive said Wednesday. The Montreal-based company expects to have self-service checkouts in 100 stores by the end of its 2019 financial year, which ends Sept. 29. It will equip another 100 stores in the following year. The company also reported Wednesday a third-quarter profit of $222.4 million, up from $167.5 million a year ago, as sales also climbed higher.Aimia Inc. (TSX:AIM). Down five cents to $3.28. The head of Aimia Inc. says its legal battle against its largest shareholder has not hampered the loyalty company’s hunt for bolt-on acquisitions as it charts a new course after the sale of its Aeroplan business. Last month the company filed a statement of claim against Mittleman Brothers LLC, which owns 23.3 per cent of Aimia shares, accusing the dissident investor of violating a contracted truce, the latest move in a battle over control of the company’s board of directors. In its latest quarter Aimia earned $43.5 million, boosted by gains related to investments, up from $11.1 million a year earlier.Canada Goose Holdings Inc. (TSX:GOOS). Down $3.81 or 6.7 per cent to $53.31. Shares of Canada Goose Holdings Inc. fell as it reported a wider loss and worsened margins in its first quarter compared to a year earlier. The luxury parka company reported a loss of $29.4 million for the quarter ended June 30, compared with a loss of $18.7 million a year ago. On an adjusted basis, Canada Goose says it lost 21 cents per share compared with an adjusted loss of 15 cents per share a year ago. The results beat analyst expectations for a loss of 24 cents per share, according to financial markets data firm Refinitiv.Freshii Inc. (TSX:FRII). Down 19 cents or 6.6 per cent to $2.67. Freshii Inc. shares plunged Wednesday after the struggling eatery reported second-quarter results that missed analysts’ expectations, despite assurances from the CEO that the company’s three new hires would help it effectively execute future growth. The restaurant chain, which keeps its books in U.S. dollars, reported earning of $433,000 for the 13-weeks ended June 30 compared with a profit of $298,000. Revenue totalled $5.8 million, up from $5.6 million, as gains in franchise revenue more than offset lower company-owned store revenue.CAE Inc. (TSX:CAE). Down $1.64 or 4.6 per cent to $34.17. CAE Inc. shares sank after it reported first-quarter profits that fell below last year’s earnings. The flight simulator and training company provided fewer simulators and less training in its civil segment than last year, though CAE’s $645-million purchase of Bombardier’s business aircraft training program in March more than made up the difference, boosting its civil profit margin before interest and tax to more than 21 per cent. The Montreal-based company raised its quarterly dividend to 11 cents per share, up from 10 cents. The increased payment came as CAE reported a profit attributable to shareholders of $61.5 million, down from $69.4 million in the same quarter last year.The Canadian Press read more

Facebook says it has suspended tens of thousands of apps

SAN FRANCISCO — Facebook says it has suspended tens of thousands of apps made by about 400 developers as part of an investigation following the Cambridge Analytica scandal.Starting in March 2018, Facebook started looking into the apps that have access to its users’ data. The probe came after revelations that data mining firm Cambridge Analytica used ill-gotten data from millions of Facebook users through an app, then used the data to try to influence U.S. elections.It led to a massive fallout for Facebook that included CEO Mark Zuckerberg testifying before Congress. The company is still trying to recover its reputation.Facebook said Friday its investigation is ongoing and it has looked at millions of apps so far.It says it banned a few apps completely and has filed lawsuits against some.The Associated Press read more

Canadian military deploys in wake of Dorian to clear roads restore power

HALIFAX — Canada’s government authorized hundreds of troops on Sunday to help clear trees after Storm Dorian tore through the Atlantic coast overnight, leaving almost half a million people in three provinces without power.Dorian, classified as a strong post-tropical storm, hit Nova Scotia hard, leaving more than 370,000 people – a third of the population – without power. About 100,000 others in New Brunswick and Prince Edward Island also had no electricity.Though no longer a hurricane, the storm is still packing cyclone-strength winds reaching about 130 kph (81 mph), the Canadian Hurricane Centre said.“Dorian will slowly weaken as it moves northeastward across northern Newfoundland later today and east of Labrador tonight,” the center said overnight.The defense ministry said it would send up to 700 troops to help in the clean-up, and Nova Scotians have been asked to stay off the roads so that crews can safely remove trees and debris to restore power.Story continues belowThis advertisement has not loaded yet,but your article continues below.“There is extensive damage,” Karen Hutt, chief executive office of Nova Scotia Power Inc, said in an interview with the Canadian Broadcasting Corp. “This storm was intense” and it will be “days not hours” before power is restored to everyone.The storm blew over a large construction crane in downtown Halifax, the capital of the province of Nova Scotia, on Saturday. No serious injuries have been reported.Dorian ripped into the Bahamas a week ago with Category 5 winds and some gusts topping 320 kph (200 mph), leaving a trail of destruction and death, with 43 confirmed dead and the number expected to rise.(Writing by Steve Scherer in Ottawa; Editing by Howard Goller) read more

More than a third of Canadians have no retirement savings half live

This couple should have started retirement planning a decade ago, and now it’s almost too late Incomes of Canada’s 1% grew faster than everyone else’s in 2017 and their taxes went down With the Bank of Canada holding interest rates … just how vulnerable are Canadians to debt? BDO’s poll showed gen-Xers are the most indebted cohort when compared to millennials and baby boomers, with 44 per cent of indebted gen-Xers owing more than $20,000. That may not come as much of a surprise because the 35-to 54-year-olds are in the prime of their house-owning years with heavy mortgage burdens. Baby boomers may have paid off their mortgages while millennials have yet to buy into the expensive housing market in large cities.Story continues belowThis advertisement has not loaded yet,but your article continues below. More than half of Canadians live paycheque to paycheque and more than a third have no retirement savings, boosting the pressure to work longer, according to a new poll by accounting firm BDO Canada Ltd.The survey of 2,047 Canadians found 53 per cent had little disposable income and that debt is overwhelming for a quarter of respondents. An increasing number – 57 per cent versus 53 per cent last year – are carrying credit card debt, the survey showed. A third of people can’t afford to pay off their credit card balances while 40 per cent owe non-mortgage sums of more than $20,000, BDO said.“Affordability and debt challenges continue to weigh on Canadians,” Doug Jones, president of BDO Canada’s Financial Recovery Services practice, said in a statement. “Over time, the cumulative effects have a significant impact on financial goals.”The rising anxiety comes even as Canada’s inflation rate remains around the Bank of Canada target of 2 per cent a year and stock markets are enjoying their longest bull run for more than a decade. But fears of a recession have grown in recent months with signposts such as an inverted yield curve where longer-term interest rates are less than shorter terms. And housing prices have resumed upward climbs in much of Canada despite market-cooling legislation last year.Related Thirty-eight per cent of gen-Xers had no retirement savings compared to a third last year while almost half said they can’t afford to save for post-work life, according to the survey that BDO calls its Affordability Index. It was done in August with the help of Vancouver-based polling firm Angus Reid.“An increasing number of Canadians in their 40s and 50s are financially stretched and unprepared for retirement and unexpected costs,” Jones said. “This can lead to a greater reliance on debt to support living expenses.”A rising number of Canadians believe that younger generations will have to work longer than their older cohorts to make ends meet, 82 per cent in this year’s poll versus 75 per cent last year. The amount also increased in those saying that even if they save, they won’t have enough for their retirement. That answer rose to 69 per cent from 64 per cent in 2018.The research also found women suffer more than men and their challenges are mounting. Lack of income increases debt for 35 per cent of women compared with 28 per cent of men. Three quarters of women also struggle to save for major purchases compared to 70 per cent of men, and a third battle to pay for groceries versus 24 per cent of men, the poll found.A growing number of women are living paycheque to paycheque – 59 per cent versus 54 per cent last year – and more said they have no retirement savings – 43 per cent versus 35 per cent in 2018, according to BDO.“Recent years have been challenging for Canadians,” BDO said, adding its index “points to more challenges ahead. In order to change course, Canadians should be actively seeking ways to improve how they balance their debt obligations and future financial goals.” read more

Iraqi oil exports rise under UNs oilforfood relief programme

The Office of the Iraq Programme reported on Monday that the average price of Iraqi crude exported during the week of 14 to 20 July was approximately €23.65 or $20.45 per barrel. The previous week, Iraq earned €25.42 or $21.71 per barrel for the 6.8 million barrels lifted after oil exports resumed on 10 July. During the same period, seven new oil purchase contracts covering 28 million barrels of Iraqi oil were approved. Since the current 150-day phase of the programme began on 4 July, a total of 59 contracts covering 199 barrels of oil have been approved, the Office said. The total value of contracts placed on hold by the committee monitoring the sanctions against Baghdad rose slightly over the past week, from approximately $3.4 billion to $3.47 billion. The increase was attributed to the fact that while the committee released from hold 11 contracts valued at $22 million, it placed holds on 42 new contracts worth $78.4 million. read more

UNs global malaria initiative names first executive

The Roll Back Malaria (RBM) programme – launched in 1998 by Dr. Gro Harlem Brundtland shortly after taking over as WHO Director-General – appointed Dr. Fatoumata Nafo-Traoré, a former Minister of Health of Mali, as its first Executive Secretary.WHO said Dr. Nafo-Traoré’s extensive experience with the Economic Community of West African States (ECOWAS) and coalitions such as the Global Alliance for Vaccines and Immunization (GAVI) ensures a greater focus on country-level support in the plans and activities of the RMB Partnership Board. For the first time partners are developing joint work-plans and creating combined country support teams to intensify action.In a further sign that the Partnership is reinvigorating its efforts, the RBM Secretariat is identifying new sources of finance and methods to increase efficient use of available funds earmarked for malaria control at the country level. The Secretariat is also establishing systems that will enable more effective monitoring of the activities and impact of the Partnership.According to WHO, malaria causes at least 3,000 deaths a day, over 90 per cent of which are in Africa south of the Sahara and most of which are in young children. Malaria, a major cause of poverty, slows economic growth by as much as 1.3 per cent per year in endemic countries. read more

Total elimination of nuclear weapons No 1 disarmament priority Annan

“Innocent people throughout the world are still threatened by weapons of mass destruction,” Mr. Annan writes in the first chapter of the yearbook, published by the UN Department for Disarmament Affairs. “They face additional threats from major conventional weapons, as well as from the destabilizing accumulation and illicit sale of small arms and light weapons, and the continued production and use of landmines.“Of all these challenges, however, the total elimination of nuclear weapons must remain the top priority,” he says.Focusing on the actions and reactions of the world community to a wide range of disarmament issues, the book surveys developments within the UN, as well as bilateral, plurilateral and regional developments.It includes steps taken by member states and the UN to address the threat of the possible use of weapons of mass destruction by terrorist groups against the backdrop of the 11 September terrorist attacks in 2001 against the United States, and efforts made to strengthen multilateral disarmament legal norms with regard to nuclear, biological and chemical weapons.Other sections include progress made by member states and the UN in implementing the programme of action on the illicit trade in small arms and light weapons to combat the proliferation of such weapons as well as progress made in eradicating and reducing anti-personnel landmines.Now in its 27th edition, the yearbook is designed as a handy reference tool for diplomats, researchers, educators and the interested public. read more

UN plans interim tsunami warning system that could be running almost at

The move by the UN Educational, Scientific and Cultural Organization and its Intergovernmental Oceanographic Commission (IOC) was announced at the weekend in Phuket, Thailand, at the Ministerial Meeting on Regional Cooperation on Tsunami Early Warning Arrangements.Had such a system existed on 26 December, experts believe, scores of thousands of lives might have been saved from the giant waves that killed more than 200,000 people in a dozen Indian Ocean countries, since they would have been given up to several hours to flee to higher ground before the tsunami struck.One proposal under consideration that could be operational almost immediately would involve the Japanese Meteorological Agency (JMA) and the IOC Pacific Tsunami Warning Centre (PTWC) providing national authorities in the Indian Ocean region with information and warnings arising from their monitoring activities.UNESCO is also working with the Asian Disaster Preparedness Centre in Thailand and the Asian Disaster Reduction Centre in Japan to accelerate the adaptation of public awareness materials developed for and widely used in the volcano- and earthquake-prone Pacific Rim, the only region in the world that now has such a system.At the same time, efforts are continuing to establish a “longer-term fully-fledged system,” UNESCO Director-General Koïchiro Matsuura said in a speech delivered by IOC Executive-Secretary Patricio Bernal.“Through a joint project with the UN-ISDR (UN International Strategy for Disaster Reduction), which has received financial support from Japan, the European Union and Sweden, we are planning the installation of six tsunami enabled sea-level stations in the eastern Indian Ocean and the upgrading of 15 more in the whole basin,” he added.Early warning systems are based on earthquake and tidal sensors, speedy communications, alarm networks and disaster preparedness training in vulnerable regions and Mr. Matsuura stressed the vital importance of preparing civil populations according to local conditions. “For example, in Aceh, Indonesia (the worst-hit region), the rapid delivery of warning messages could well exploit the wide distribution of Islamic mosques with established loud-speaker systems,” he noted.“In other countries and local environments, alternative approaches may need to be employed, including local radio and traditional village communication structures,” he added.Mr. Matsuura also reiterated the need to establish by 2007 a tsunami-specific early warning system for other regions at risk, such as the Caribbean, the Mediterranean and the southwest Pacific.The next steps toward this will be taken on 3 March, when the IOC convenes a technical meeting of experts from interested Member States and relevant regional and international organizations to harmonize the different early warning initiatives emerging for the Indian Ocean and to define the scope and characteristics of the global system. read more

Greenhouse effect could melt nearly all worlds glaciers says UNbacked report

“The last five-year period of the 20th century has been characterized by an overall tendency of continuous if not accelerated glacier melting,” says the World Glacier Monitoring Service (WGMS) 1995-2000 edition of the Fluctuations of Glaciers report, complied with the support of the UN Environment Programme (UNEP).”The two decades [from] 1980-2000 show a trend of increasingly negative balances with average annual ice thickness losses of a few decimetres,” it adds. “The observed trend of increasingly negative mass balances is consistent with accelerated global warming.”Analysis of repeated inventories shows that glaciers in the European Alps have lost more than 50 per cent of their volume since the middle of the 19th century, and that a further loss of roughly one fourth the remaining volume is estimated to have occurred since the 1970s, the report states.”With a realistic scenario of future atmospheric warming, almost complete deglaciation of many mountain ranges could occur within decades, leaving only some ice on the very highest peaks,” it says.Since the initiation in 1894 of a worldwide programme for collecting standardized information on glacier changes, various aspects involved have changed “in a most remarkable way,” the report notes.Concern increases that the ongoing trend of worldwide and fast if not accelerating glacier shrinkage at the century time scale is of non-cyclic nature, there is definitely no more question of the originally envisaged ‘variations périodiques des glaciers’ as a natural cyclical phenomenon, it states.”Due to the human impacts on the climate system (enhanced greenhouse effect), dramatic scenarios of future developments – including complete deglaciation of entire mountain ranges – must be taken into consideration,” it stresses.”Such scenarios may lead far beyond the range of historical/holocene variability and most likely introduce processes (extent and rate of glacier vanishing, distance to equilibrium conditions) without precedence in the history of the earth.” read more

Annual UN economic report warns about dangers of global trade imbalances

The UN Conference on Trade and Development (UNCTAD), in its annual report released today, characterizes the global economy as one of “relatively fast growth in developing countries, driven by strong global demand originating mainly in the United States and amplified by the rapid expansion of the large Chinese economy.” The report finds little evidence of a looming major financial crisis, comparable to the Asian or Latin American crises of 10 years ago. It notes that many developing countries are now less vulnerable to big shocks because they have stabilized their exchange rates at low levels and are running sizeable current-account surpluses and accumulating large amounts of dollar reserves. That approach poses a problem, however, because it “can only function as long as there is at least one country in the global economy that accepts running the corresponding trade deficit,” the report says. That country, the US, has become overburdened in its role as “global engine for growth.” UNCTAD economists fear that, at some point, American demand will no longer be able to act as a bulwark against worldwide deflation and recession. They add that other key industrial countries have not only failed to play their part, but have actually added to the US’ burden by running up huge surpluses of their own. They say countries like Japan and Germany must increase their domestic demand to prevent a sharp devaluation of the American dollar that could send shocks reverberating throughout the developing world. The report notes that China’s surging domestic demand and imports have played a positive and vital role in spreading and sustaining global growth. To prevent that process from being derailed, its currency, the renminbi, should not be revalued too quickly. UNCTAD economists say that redressing global imbalances requires a responsible multilateral effort rather than pressure on the developing world. “A well-coordinated international macroeconomic approach would considerably enhance the chances of poorer countries being able to preserve and continue recent improvements in their growth performances,” the report notes. read more

Intercommunal violence spiralling out of control in southeast Chad UN warns

“The violence, which has left more than 220 dead, appears to mirror that of the neighbouring Darfur region of Sudan,” UN High Commissioner for Refugees (UNHCR) spokesman Ron Redmond told a news briefing in Geneva. “We fear the inter-communal hostilities are spiralling out of control and could threaten the entire south-eastern region of Chad.”He said accounts from displaced Chadians bear a striking similarity – the assailants are almost always identified as being of Arab ethnicity, often known personally by victims as neighbours with whom they had lived for generations. They are often well-armed, particularly with Kalashnikovs; on horseback, camelback or in trucks; sometimes in military attire, sometimes in civilian attire.In just the past week some 5,000 newly displaced Chadians have converged on a site for internally displaced persons (IDPs) in Habile, 45 kilometres southeast of Goz Beida. “In all, there are now some 68,000 Chadians who have been displaced within eastern Chad in a series of attacks over the past year,” Mr. Redmond added.He noted that Security Council Resolution 1706, adopted in August, already called for the deployment of a multi-dimensional UN presence to Chad and the neighbouring Central African Republic (CAR).UN officials have repeatedly warned of a spill-over to neighbouring countries of the deadly violence in Sudan’s Darfur region where over three years of fighting between the Government, allied militias, and rebels seeking more autonomy and development have killed scores of thousands of people and uprooted more than 2 million others. “With new attacks reported daily in south-eastern Chad, UNHCR is extremely worried that an already volatile situation is continuing to deteriorate,” Mr. Redmond said, noting that the Chadian Government yesterday declared a state of emergency. “UNHCR remains concerned by the difficult humanitarian situation and the difficulties we’re facing in properly assisting local residents, internally displaced people and refugees.”Since 4 November, at least 20 villages have been attacked south of Goz Beida. A UNHCR-led interagency mission to assess the recently-attacked village of Louboutigue yesterday had to flee when gunfire, believed to be warning shots, were fired from nearby millet fields by unseen gunmen. “No one was injured, but it was just a small sampling of the terror that tens of thousands of Chadians are now experiencing daily in the southeast,” Mr. Redmond added.In the village of Bandicao, residents have warned relief agencies that it is not safe to send ambulances to evacuate the wounded because of gunmen lying in wait. Government forces were sent yesterday to Kerfi to evacuate the wounded to the hospital in Goz Beida where capacity has been stretched in recent days with the arrival of 70 wounded.There are not enough beds and many patients are recuperating from serious wounds on mats under trees outside. To help ease the strain on the hospital, UNHCR has provided 10 large tents to house patients along with sleeping mats. Other agencies also provided assistance, including bandages and medicine. read more

Ontario PCs will ask if Liberal government has confidence of legislature

Ontario PCs will ask if Liberal government has confidence of legislature TORONTO – Ontario’s New Democrats made it clear Wednesday they are not prepared to scratch the Progressive Conservatives’ nagging itch for a snap election by supporting a motion that would test the confidence of the minority Liberal government.“It seems like Mr. Hudak simply can’t pass up an opportunity to throw another gimmick out there and show how ineffective he is,” said NDP Leader Andrea Horwath.Progressive Conservative Leader Tim Hudak said his party introduced a non-binding motion asking if the legislature has confidence in Premier Kathleen Wynne and the Liberals in an effort to force the NDP to stop propping up the government.The auditor general’s estimate that it will cost up to $1.1 billion to cancel two gas plants to save Liberal seats in the 2011 election should be enough for Horwath to say she will help defeat the government, added Hudak.“The Liberals’ corruption stares her in the face each and every day, but every time that Andrea Horwath is asked to prop up the government, she’s ‘ready, aye ready’ to do whatever the Liberals want,” he said.“The gas plants scandal tells us the Liberals simply cannot be trusted to run the province of Ontario any more. It’s time to draw a line in the sand and put our confidence in the government to the test.”The Progressive Conservative motion, which will be debated during an Opposition day next week, is not a true confidence motion and the results would not be binding on the government. That means it’s another stunt by Hudak, said Horwath.“It’s clear that nothing has changed since the last time he threw out one of these salvos,” she said.“He can stand on his head and spit nickels or he can do back flips all he wants, but the bottom line is these gimmicks, these games do not a change make in terms of the capacity of him or I to actually create a situation where the government will fall.”But Wynne would have a hard time ignoring such a resolution if it was passed by a majority of members in the legislature, said Hudak.“If this passes it’s a question for Premier Wynne: if the house says they don’t have confidence in her, does she have the moral authority to actually govern any more,” he said. “And it’s a question for Andrea Horwath: is she on the side of the Liberals or is she on the side of Ontarians who want to see change? It’s that simple.”Wynne declined comment on Hudak’s confidence motion, saying only that she wants to keep governing and avoid an election.“Our intention is to continue to work within the legislature to govern,” said Wynne.Hudak wrote an open letter to Horwath on Sunday, saying he was “shocked” the New Democrats were not fed up with the Liberals’ behaviour and ready to try and bring down the minority government.“The moral bankruptcy and corruptness of the Liberal government of Ontario is now patently obvious to the majority of Ontarians,” wrote Hudak.“I remain somewhat astounded that you and your party don’t grasp that continuing to prop up the Wynne government by being at its beck and call is doing Ontario no favours.”Last week, the Conservatives introduced a motion to force the Liberal party to pay back the money spent on the cancelled gas plants. Even though the New Democrats supported it, the Tories failed to have enough members in the house for the vote, so the Liberals were able to defeat the motion by a single vote, 27-to-26.PC insiders vow that won’t happen when the vote on the confidence motion comes up next Wednesday, saying they want the legislature to clearly express a lack of confidence in the Liberals. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Keith Leslie, The Canadian Press Posted Oct 30, 2013 2:00 am MDT read more

Crude oil slips back below US94 a barrel after Wednesdays big runup

by The Associated Press Posted Jan 16, 2014 2:49 pm MDT NEW YORK, N.Y. – The price of oil edged lower Thursday, a day after recording its biggest gain of the new year.Benchmark West Texas Intermediate crude oil for February delivery slipped 21 cents to close at US$93.96 a barrel on the New York Mercantile Exchange after having surged $1.58 to settle at $94.17 in New York on Wednesday.Brent crude, used to set prices for international varieties of crude, fell 52 cents to $105.75.The market was buoyed Wednesday by a report from the U.S. Energy Department that showed oil supplies fell by 7.7 million barrels last week, the seventh straight weekly decline. Analysts expected a more modest drop of 1.6 million barrels.On Thursday, OPEC said in a report that it expects global demand for oil to increase by around one million barrels a day, up from an increase of 900,000 barrels a day in 2013.But supply is also on the rise and OPEC revised up slightly its estimates for oil supplies from non-OPEC countries for both 2013 and 2014.In other energy futures trading in New York, wholesale gasoline fell three cents to US$2.60 a U.S. gallon (3.79 litres), hating oil was flat at US$2.98 a gallon and natural gas rose six cents to US$4.38 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), (TSX:CVE) The oil pipeline and tank storage facilities at the Husky Energy oil terminal in Hardisty, Alta., June 20, 2007. THE CANADIAN PRESSL/arry MacDougal Crude oil slips back below US$94 a barrel after Wednesday’s big run-up AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

Seller Half of California couples buried gold coins sold for about 2M

SAN FRANCISCO – The man handling the sale of rare, nineteenth century gold coins discovered by a California couple estimates they have fetched about $2 million so far.Don Kagin said about half of the 1,400 coins had sold as of noon on Wednesday, less than a day after they went up on Amazon.com and his website, Kagins.com.He said the more valuable coins were still out there, though he wasn’t surprised since they would likely be snapped up by more knowledgeable buyers who wanted more time to look.The couple, who Kagin declined to identify, found the coins last year buried under the shadow of a tree on their rural Northern California property.They date from 1847 to 1894. Kagin has valued them at $11 million. by The Associated Press Posted May 27, 2014 11:37 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Seller: Half of California couple’s buried gold coins sold for about $2M read more

General Motors US sales up 19 per cent in September on strong

by The Associated Press Posted Oct 1, 2014 8:12 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email General Motors’ US sales up 19 per cent in September on strong truck demand DETROIT – General Motors’ U.S. sales jumped 19 per cent in September on big demand for its pickup trucks.GM’s sales totalled 223,437 cars and trucks. Three of its four brands saw double-digit gains; Cadillac sales were flat compared with last September.Sales of the Chevrolet Silverado pickup rose 54 per cent to 50,176, while the GMC Sierra pickup was up 25 per cent to 16,763.General Motors Co. fueled the sales with good deals. J.D. Power and Associates estimates GM spent just under $5,000 in incentives per pickup, which was 30 per cent, or $1,140, higher than a year ago.GM’s SUV sales were also strong. Cadillac Escalade sales more than doubled, while Chevrolet Traverse sales rose 45 per cent. read more

Loonie dives a penny amid low oil prices strengthening US dollar

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Loonie dives a penny amid low oil prices, strengthening U.S. dollar by Linda Nguyen, The Canadian Press Posted Jan 2, 2015 7:15 am MDT TORONTO – The loonie plunged to a level not seen in more than five years Friday amid a strengthening U.S. greenback and weaker crude oil prices.The Canadian dollar ended the day down 1.18 cents at 85.02 cents US. The last time it closed below this level was on May 15, 2009.The currency finished 2014 down about eight per cent or 7.8 cents US against the American currency compared with where it began the year.In contrast, the U.S. dollar strengthened last year as the Federal Reserve wrapped up its massive program of buying bonds and mortgage-backed securities, which has helped keep interest rates low.The Fed is expected hike rates for the first time since the 2008 financial crisis in mid-2015. Expectations are the Bank of Canada will also move to hike rates sometime after that.The Institute for Supply Management, a trade group of purchasing managers, reported that U.S. factory activity grew at the slowest pace in six months in December, weakened by declines in orders and production. Its manufacturing index fell to 55.5 in December from 58.7 in November.Still, any reading above 50 signals expansion and, despite the slowdown, a measure of employment rose, suggesting factories likely added jobs last month.Meanwhile, the loonie also continued to feel pressure from crude prices.“Oil prices are flirting with their lows and remain an important weight (on the Canadian dollar),” observed Camilla Scott, chief FX strategist, global banking and markets, Scotiabank.The February crude oil contract in New York faded 58 cents to US$52.69 a barrel.Crude oil has been on a downward trajectory since its most recent high of US$107 a barrel back in June and has plunged more than 50 per cent since then due to low demand and a global supply glut.Paul Vaillancourt of Fiera Capital said the loonie’s performance is tied to oil prices but he projects both will rise in 2015.“There’s a clearly link between our currency and the price of oil and what investors think will happen to the Canadian economy,” he said.“Our view is short-term pain for long-term gain… (The loonie) will be hard hit in the short term, impacted with the price of oil but both the Canadian dollar and price of oil will revert back and we’ll see the Canadian dollar back to 90 cents US by the end of the year.”Elsewhere on the commodity markets, February gold gained $2.10 to US$1,186.20 an ounce while March copper lost a penny to US$2.82 a pound.Follow @LindaNguyenTO on Twitter read more

BC Hydro CEO says Site C dam will be built marks a

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email BC Hydro CEO says Site C dam will be built, marks a ‘new era’ for utility VANCOUVER – The head of BC Hydro is promising the contentious Site C hydroelectric dam will be built, despite overwhelming opposition and court challenges to the $8.8-billion project.Jessica McDonald told a Vancouver Board of Trade luncheon that the dam in northeastern British Columbia is the “most-studied” project in the company’s history.“We’ve researched and consulted over a period of almost eight years. It’s been evaluated against every other option. It’s the clear winner to provide affordable, reliable power,” she told the crowd.Construction on the project is set to start this summer on the Peace River, where it will flood agricultural land, First Nations spiritual, burial and archeological sites and destroy hunting and fishing areas.Environmental groups, ranchers and First Nations have vowed to fight Site C, with some First Nations taking their opposition to the Federal Court of Canada for a judicial review.McDonald said after the speech that she is done selling Site C.“We’re moving forward now into implementation,” the CEO told reporters. “(We’re) really looking forward to having continued conversations about this project, but we’re really, at this stage, past the decision point with the final investment decision being made by government.”The province approved the project in December. Now, BC Hydro is waiting for the government to finish its permitting process while it uses the time to carry on discussions with local residents and First Nations, McDonald said.She shrugged off questions about a contingency plan if Site C is delayed or struck down in the courts.“Our plan is to build Site C, and as I said before we’re moving forward with implementation.”During her speech, McDonald said the utility is facing several challenges, including aging infrastructure built in the 1960s and ’70s, and electricity demands that are expected to rise by 40 per cent over the next two decades.“It’s a new era for BC Hydro,” she said about the scale of the Site C project. “It’s like adding a company to the company.”BC Hydro’s capital spending will increase to $2.4 billion a year from $1.7 billion annually over the next eight or nine years as the dam is constructed, McDonald said.Site C is expected to meet just 22 per cent of upcoming energy demand. McDonald said the remaining three quarters of demand would be met largely through conservation — by convincing consumers to use less electricity and through new technology such as smart meters.As for the Bank of Canada cutting its key interest rate to 0.75 per cent on Wednesday, McDonald said that’s good news for her company’s capital plan.“The longer that we see interest rates carrying on low, that’s very good for us and very good for our budgeting.”— With files from Dirk Meissner by Laura Kane, The Canadian Press Posted Jan 21, 2015 3:38 pm MDT read more

Scott Thomson Manitoba Hydro CEO to step down in September no successor

WINNIPEG – The CEO of Manitoba Hydro is to step down in September.Manitoba Hydro Electric Board says Scott Thomson is leaving to take a job in the private sector.He joined the Crown-owned utility in February 2012 and has been involved in securing approvals for the Keeyask hydroelectric project and the Bipole III transmission project.Manitoba Hydro says it will start the process of looking to hire his successor in the coming days.The Crown corporation supplies electricity and natural gas to hundreds of thousands of Manitobans and exports power to the U.S. and to other provinces. Scott Thomson, Manitoba Hydro CEO, to step down in September, no successor yet by The Canadian Press Posted Jun 26, 2015 11:28 am MDT Last Updated Jun 26, 2015 at 12:30 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

Cyber Monday is scammers favourite time of year BBB

by News Staff Posted Nov 30, 2015 3:05 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Cyber Monday is a favourite day for shoppers, but that’s also the case for scammers trying to get your money online as well.For example, a new phishing scam called ‘Canadian Delivery Express’ has popped up with an email asking you to send your personal information to have your shipment sent. \It even happened to a 660 NEWS sales agent.Better Business Bureau Vice-President of Marketing and Communications Cammi Laird said now is the time to be diligent.“It’s the scammers favourite time of year right now, because people have their wallets out and their credit cards ready and that’s when they want to catch you when you’re stressed and hurried and vulnerable,” she said.She said you should never give your credit card information to anyone that you haven’t ordered from.“Make sure you’re not on a phishing-type website,” she said. “They’re pretty sophisticated and look like almost exactly like an eBay or Amazon, you want to be really clear on what the URL is, that’s the address at the top of the screen.When you are doing an online order, make sure the URL has HTTPS, with the “S” standing for secure. pexels.com Related Stories Break out the credit cards: it’s Cyber Monday Cyber Monday is scammers ‘favourite time of year’: BBB read more