Saturday, May 7, 2011

RCI Cyberjournal

Edition 6 May 2011
Canadian International Financial Sports Weather
Canadian

TORONTO: KHADR RULING UPHELD

Ontario Court of Appeal has upheld a lower court decision to stop extradition of admitted al-Qaeda collaborator Abdullah Khadr. The court dismissed an appeal filed by the Attorney General of Canada on behalf of the U.S. Last month, the federal government argued that Superior Court had exceeded its jurisdiction in ordering the stay of extradition proceedings that allowed Khadr to go free last summer. The Canadian government has said he should be handed over to the Americans to be tried on an accusation that he supplied weapons to al-Qaeda in Pakistan. Khadr's younger brother Omar has been a prisoner at Guantanamo, Cuba, since 2002.



OTTAWA: BUDGET TO BE REINTRODUCED

Canada's finance minister is expected to present a budget later this month that did not pass in the last Parliament. The Conservative Party was re-elected on Monday in the federal election with a majority. The three opposition parties in the House of Commons provoked the election by rejecting the budget. The new Conservative majority allows the government to pass any measures it wants without having to worry about what the opposition parties think.



OTTAWA: FORMER LIBERAL LEADER FINDS NEW JOB

Michael Ignatieff, who has resigned as the leader of Canada's Liberal Party, will once again become a university professor. The internationally acclaimed academic and author has been appointed as senior resident at the University of Toronto's Massey College. He will be teaching at the faculty of law and the political science department, along with the Munk School of Global Affairs. Mr. Ignatieff is a graduate of the University of Toronto who has previously taught at Harvard, Oxford and Cambridge. Mr. Ignatieff was defeated in his Toronto constituency in Monday's federal election.



OTTAWA: JOB SITUATION BETTER

Canada's economy continues to perform well as it created more than 58,000 jobs last month, most of them in the province of Ontario. Statistics Canada says the the unemployment rate stands at 7.6 per cent, down 0.1 per cent from the previous month.



SAINT-JEAN-SUR-RICHELIEU: FLOOD WATER STILL RISING

The sun came out on Friday afternoon southeast of Montreal but flood waters of the Richelieu River continued to rise. About 650 soldiers who arrived in the area on Thursday are helped to protect homes by stacking sandbags and evacuating residents. About 3,000 homes have been flooded and 1,000 residents evacuated. Some houses are half-submerged. Residents are using canoes, rowboats and watercraft to get around.





International

SYRIA

Rights campaigners in Syria report that the Syrian security forces have killed 22 demonstrators, as tens of thousands of people demonstrated on Friday to force an end of the government of President Bashar al-Assad. The National Organization for Human Rights in Syria says 15 demonstrators were killed in the northern city of Homs and the six others in Hama in the west. Rallies also took place in Damascus and its suburbs, Banias on the coast and Qamishli in the northeast. Meanwhile, the EU announced that it will impose sanctions on Syria next week. And UN Secretary General Ban Ki-moon says Syria has agreed to allow UN teams into the country to check on the humanitarian situation.



LIBYA

Libya's government has reacted angrily to a NATO-led decision to provide funding to the three-month-old rebellion against the rule of Moammar Ghadaffi. Officials have described a plan to use Libyan frozen assets abroad to fund the rebels as an act of piracy. The fund, set up at a meeting of the International Contact Group on Libya in Rome on Thursday, is intended to provide an emergency lifeline to the rebels. The funds being made available are far less than the figure of up to $3 billion that had been sought by the rebels but their leader, Mahmud Jibril, said it's acceptable.



PAKISTAN

Pakistani intelligence officials say an American missile attack close to the Afghan border has killed 10 suspected militants. The attack came just four days after U.S. commandos shot dead al Qaeda leader Osama bin Laden in Pakistan's garrison city of Abbottabad. Officials say the attack took place in North Waziristan, an al-Qaida and Taliban stronghold.



RUSSIA

A court in Moscow has handed down a life sentence to a nationalist convicted of having killed a human rights lawyer and a journalist. Last month, a jury found 30-year-old Nikita Tikhonov guilty of the murders, and also convicted his common law wife Yevgenia Khasis of complicity. Tikhonov shot lawyer Stanislav Markelov and Novaya Gazeta reporter Anastasia Baburova to death in broad daylight in downtown Moscow. The FSB security service said at the time that the two were members of a small nationalist group intent on revenge against the lawyer for his defence of victims of racism. The Sova NGO which tracks hate crimes says the stiff sentences are a rare event for Russian courts.



MEXICO

Mexican officials have dug up another 25 bodies in mass graves near the city of Durango. One-hundred-and-forty-four have been discovered near the city since April 11. Police have not yet accused anyone of the killings, which appear to have been part of the country-wide wave of drug violence that has killed nearly 35,000 people since the launch of a military crackdown in late 2006.





Financial

TORONTO: SONY MAKES CANADIANS WAIT LONGER

The Sony corporation has announced reparation to its U.S. customers whose vital data may have been stolen by hackers. But Sony says customers elsewhere who use the PlayStation Network and Qriocity services will have to wait for such amends to be made. On April 26, Sony revealed that data including names, birth dates, email addresses and log-in information had been compromised. It also said credit card data from 10 million accounts may have been accessed. Sony has offered U.S. customers a 12-month $1-million identity theft insurance policy. Other customers are to receive a similar offer "soon." Residents of the Canadian province of Ontario have responded to Sony's security breach by launching a $100-million class-action lawsuit. On Wednesday, Canada's privacy commissioner, Jennifer Stoddard, called for new legislation to force companies to disclose security breaches and to give her the power to level stiff fines on firms guilty of them.



VANCOUVER: CHINESE DEMAND FOR CANADIAN LUMBER SOARING

Canadian lumber giant Canfor Corp. says that China's demand for its products is jumping by leaps and bounds. And Canfor CEO Don Kayne predicts that that demand will continue to surge as million of rural Chinese move to cities and look for new homes. Canfor's new CEO says he expects 30 million Chinese to move to urban areas in search of jobs and better lives and that Canfor and its Canadian competitors will profit enormously from the social shift over the next two to four years. Mr. Kayne says about 27 per cent of its production of lower grade lumber was sent to China in the first quarter, but that demand for the higher grades is increasing. China has become the top market for lumber produced in British Columbia. About $687 million worth of B.C. lumber was shipped to China last year, double the value from 2009.



TORONTO: BLOCKBUSTER IN RECEIVERSHIP

Ontario Superior Court has placed Blockbuster Canada into receivership. The court has turned over control of the company's assets to Grant Thornton LLP. The receiver says it will seek parties interested in buying the assets of Blockbuster's Canadian affiliate. Court documents show that the affiliate owes more than US$67 million to movie studios and others who were its suppliers. The papers also show that the affiliate was the guarantor of Blockbuster's U.S. operations. The American firm went into bankruptcy protection last September and sold its assets last month.



TORONTO: SONY MAKES CANADIANS WAIT LONGER

The Sony corporation has announced reparation to its U.S. customers whose vital data may have been stolen by hackers. But Sony says customers elsewhere who use the PlayStation Network and Qriocity services will have to wait for such amends to be made. On April 26, Sony revealed that data including names, birth dates, email addresses and log-in information had been compromised. It also said credit card data from 10 million accounts may have been accessed. Sony has offered U.S. customers a 12-month $1-million identity theft insurance policy. Other customers are to receive a similar offer "soon." Residents of the Canadian province of Ontario have responded to Sony's security breach by launching a $100-million class-action lawsuit. On Wednesday, Canada's privacy commissioner, Jennifer Stoddard, called for new legislation to force companies to disclose security breaches and to give her the power to level stiff fines on firms guilty of them.



MARKETS

TSX on Thursday: 13,540 + 86. Dollar: US$1.03. euro: $1.38. Oil: $97.77 - $2.03.





Sports

SPORTS

HOCKEY

Canada survived another scare at the International Ice Hhockey Federation

World Hockey Championship on Friday by beating the United States 4-3

in a shootout.

Jordan Eberle and Rick Nash both scored on Ty Conklin in a

shootout to give Canada its second straight round-robin victory in

extra time. James Reimer stopped Jack Johnson and Blake Wheeler in

the tiebreaker.

Brent Burns, John Tavares and Jason Spezza scored in regulation

for Canada, which outshot its opponents 51-20.

Johnson, Mike Komisarek and Derek Stepan replied for the

Americans.





Weather

WEATHER

British Columbia on Saturday: rain, high C12 Vancouver. Yukon: mix sun cloud. Northwest Territories: sun. Nunavut: snow. Whitehorse 12, Yellowknife 13, Iqaluit 0. Alberta: rain south, mix sun cloud north. Saskatchewan: mix sun cloud. Manitoba: rain. Edmonton 14, Regina, Winnipeg 18. Ontario: mix sun cloud south, rain north. Quebec: rain. Toronto, Montreal 15, Ottawa 18. Atlantic Canada: rain. Fredericton 17, Halifax 11, Charlottetown 13, St. John's 9.





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