Thursday, June 16, 2011

RCI Cyberjournal

Edition 15 June 2011
Canadian International Financial Sports Weather
Canadian

OTTAWA: BACK-TO-WORK LAW LOOMS FOR POSTIES

Canadian Labour Minister Lisa Raitt said she would file notice in the House of Commons on Wednesday evening that the government is prepared to legislate an end to the lockout and rotating strikes at Canada Post within 48 hours. The employer locked out 48,000 employees on Wednesday morning and ended mail delivery in cities. The Canadian Union of Postal Workers had been conducting rotating strikes, actions which Canada Post said cost it $100 million. Mrs. Raitt was already preparing legislation to end the two-day strike by customer service employees at Air Canada. Mrs. Raitt says she had not already forced the postal workers back to work because their rotating walkout hadn't shut down the postal service, which has now occurred with the lockout. CUPW President Denis Lemelin says the union has asked for a meeting with Canada Post CEO Deepak Chopra to request that the workers be allowed to deliver critical mail such as social assistance cheques. He also suggested that the employers reinstate the union's expired contract so that workers can return to work while negotiations continue. The main issues in the conflict are wages, pensions and the effect of the Internet on traditional mail service.



TORONTO: LEGISLATION IN THE MAKING FOR AIR CANADA WALKOUT

The Canadian government says it could introduce legislation as early as Thursday to end the two-day strike by 3,800 customer service employees at Air Canada. No face-to-face talks have been scheduled between Air Canada and the Canadian Auto Workers union. But Air Canada says there has been a dialogue between them since the walkout began on Tuesday focusing on possible solutions of the pension issue. CAW President Ken Lewenza says the issue is a major stumbling block but that differences over salary questions aren't insurmountable. There have been slightly longer lineups and minor delays at airports since the strike began but no major disruptions.



OTTAWA: RECESSION HALTED PROGRESS TO REDUCE POVERTY

New data show that the recent recession stopped progress on poverty. Statistics Canada reports that the percentage of Canadians living in poverty rose to 9.6 per cent in 2009, after more than 10 years of steady improvement. The figure for 2008 was 9.4 per cent and 9.2 per cent in 2006. The latest statistics are nonetheless better than the 15-per cent rate that was prevalent in the 1990s.



MONTREAL: POLICE PULL HUGE DRUG BUST

About 40 people are in custody after hundreds of Canadian police officers staged anti-drug raids on aboriginal communities near the city of Montreal in the province of Quebec. About 500 officers from the Royal Canadian Mounted Police, Quebec's provincial police and aboriginal peacekeeping forces conducted a number of searches, seizing marijuana, cocaine, designer drugs and guns. Police say they believe they have dismantled a major organized-crime ring.





International

TURKEY

An envoy of Syria's President Bashar al-Assad is in Turkey Wednesday to hold talks with Prime Minister Recep Tayyip Erdogan, who has been urging Syria to stop its crackdown on protesters. Mr. Erdogan has traditionally enjoyed good relations with the Syrian leader but he has been increasingly critical of the repression across the border. Thousands of Syrians have crossed over into Turkey in recent days, fleeing a major army operation in the town of Jisr al-Shughur, some 40 kilometres from the border. Mr. Erdogan has said Turkey will not close its doors to the refugees. Syria's government is calling for the return of the refugees who fled to Turkey to return Jisr al-Shughour saying security, electricity, water and communications have now been restored and the area is now safe.



LIBYA

Libyan rebels have captured two western villages on highway to Tripoli. They're trying to seize a key junction connecting the towns of Yefren and Zintan, west of the capital. The commander of the NATO mission in Libya, Lieut-Gen. Charles Bouchard of Canada, says the military situation in western Libya is developing "very positively" and expressed confidence that the Western alliance can complete its mission without the use of ground troops. Meanwhile, NATO resumed its air campaign against Tripoli on Wednesday, which had been suspended for three days. The alliance says it struck an air defence facility and two surface-to-air missile launchers near the capital.



CHILE

Geologists in Chile are warning that a volcano in the southern part of the country could have even more intense eruptions in the days to come. The Puyehue volcano started sending ash into the atmosphere on June 4. The eruptions led to the cancellation of flights from South America to Australia as the cloud of ash spread. Passengers in those regions have had cancel aircraft plans for travel by boat or overland.



YEMEN

Dozens of alleged Al-Qaeda militants attacked security and government buildings in the southern town of Huta Wednesday, killing a policeman and wounding six others. The attack has raised concerns that Huta might be taken over by Al-Qaeda. Security officials say the militants are al-Qaeda fighters. But the opposition, challenging the rule of President Ali Abdullah Saleh, accuses the government of inventing such a threat so that Mr. Saleh can stop demands by the West that he resign. Yemen is the home of al-Qaeda in the Arabian Peninsula.



SUDAN

U.S. President Barack Obama has called on the Sudanese government to stop military actions in a troubled border state. The president says there's no military solution in Southern Kordofan. The northern military has been engaged in combat with fighters there who sided with southern Sudan in the country's decades-long civil war and has carried out air strikes. The UN has said the fighting has left as many as 64 people dead. Mr. Obama says the leaders of Sudan and South Sudan must respect their responsibilities and the Khartoum government must prevent further escalation by the crisis by ceasing all military activity, including the aerial bombardments. Southern Kordofan is the north's chief oil-producing state. South Sudan is scheduled to become independent on July 9.



RUSSIA

Foreign investors have been advised not to miss out on vast profits in Russia because of uncertainty over who will run for president. The advice comes from Deputy Economy Minister Stanislav Voskresensky. Russia returned to growth last year after the world economic recession. But billions of dollars have been taken out of the country because of uncertainty about whether the candidate will be President Dmitri Medvedev or Prime Minister Vladimir Putin. Mr. Voskresensky spoke on the eve of the St. Petersburg International Economic Forum. He told the Reuters news agency that interested investors should come to Russia and see for themselves rather than listen to scare stories. One of those scare stories is imprisoned former tycoon Mikhail Khodorkovsky. He said in remarks published Wednesday that the rule of law doesn't exist in Russia and that the government's pitch to foreign investors is sure to fail.





Financial

MONTREAL: ONTARIO SCHEDULES HEARINGS ON TMX MERGER BID

The Ontario Securities Commission will hold public hearings on the proposed merger between TMX Group, the operator of the Toronto Stock Exchange, and the London Stock Exchange on July 21 and 22. The consultations will follow the Quebec government's own hearings on July 14 and 15. The Canadian government is also conducting a review but won't hold public hearings. The proposed merger would create a new company with a capitalization worth $6 billion that would be the world's eighth-biggest securities markets. A rival and hostile $3.7-billion bid has been put forward by a consortium of Canadian big banks, pension funds and other financial institutions. The purpose of the bid by Maple Group Acquisition Corp. is to keep the Toronto Stock Exchange in Canadian hands.



MARKETS

TSX on Wednesday: 12,971 - 126. Dollar: US$1.02. Euro: $1.38. Oil: $94.93 - $4.44.





Sports

SPORTS

HOCKEY

It was all down to a best-of-one in the Stanley Cup final as Vancouver hosted Boston Wednesday night in Game 7. The Canucks have never won the Cup, while the Bruins are looking for their first title since 1972. Vancouver will be without speedy forward Mason Raymond, who suffered a "vertebrae compression fracture" after getting ridden into the boards in Game 6 on Monday night.

SOCCER

Blas Perez' stoppage-time equalizer earned

Panama a 1-1 draw with Canada and top spot in Group C at the Gold

Cup on Tuesday.

Panama has seven points, three clear of Canada. The Canadians

needed Guadeloupe to beat the United States in Tuesday's late match

to avoid elimination.

Dwayne De Rosario put Canada ahead with a 62nd-minute penalty

kick, prompting a change in tactics that resulted a flurry of Panama

chances.

WATER POLO

Australia scored six goals in the third quarter

Wednesday en route to a 10-8 victory over Canada at the FINA World

League Super Final in women's water polo.

With the loss Canada, second at the 2009 world championships,

dropped to 0-2, while the Australians improved to 2-0.





Weather

WEATHER

British Columbia on Thursday: rain north, cloud south, high C19 Vancouver.Yukon: mix sun cloudl. Northwest Territories, Nunavut: sun. Whitehorse 16, Yellowknife 24, Iqaluit 12. Alberta, Saskatchewan: rain. Manitoba: mix sun cloud. Edmonton 16, Regina 22, Winnipeg 23. Ontario: sun north, rain south. Quebec: sun. Toronto 20, Ottawa 30, Montreal 29. New Brunswick, Prince Edward Island, Newfoundland and Labrador: rain. Nova Scotia: sun. Fredericton 27, Halifax 21, Charlottetown 17, St. John's 9.





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