Wednesday, August 17, 2011

RCI Cyberjournal

Edition 16 August 2011
Canadian International Financial Sports Weather
Canadian

MANUFACTURING CONTINUES TO DECLINE

Statistics Canada says manufacturing sales were down for the third consecutive month in June. That puts them at their lowest level since last November. The decline of 1.5 per cent is steeper than economists' had predicted. The overall drop was due mostly to lower oil and coal sales. But sales in the chemical industry were up, with gains in the pesticide, fertilizer and agricultural industries.



MILITARY BRANCHES AGAIN 'ROYAL'

The Canadian government has restored the designation "royal" to the navy and air force. They will again be known as the Royal Canadian Navy and the Royal Canadian Air Force. The Land Force Command will be called the Canadian Army. The older names disappeared in 1968 when all three branches were unified as the Canadian Forces. Defence Minister Peter MacKay explained that the military wants to help those in uniform reconnect with their past.



WHEAT BOARD CONCLUDES CAMPAIGN TO SAVE MONOPOLY

The final public information meeting on the future of the Canadian Wheat Board was to be held Tuesday evening in the western Canadian city of Camrose, AB. The federal government plans to end the board's marketing monopoly in the fall session of Parliament. Wheat Board officials say it's a last chance for farmers to have a direct say in their own organization. The Board is also holding a plebiscite asking producers to determine its future but federal Agriculture Minister Gerry Ritz has said he will ignore the results. The Wheat Board sells farmers' wheat and barley abroad.



PROVINCE GETS NEW SEPARATIST PARTY

A new separatist party has been established in Canada's largely French-speaking province of Quebec. The New Movement for Quebec is composed of former Bloc Québécois and Parti Québécois, both themselves separatist parties. The Bloc sends members to Ottawa, while the PQ stands for election only in Quebec. The new grouping in its manifesto denounces the PQ as a spent force in the fight for independence, a state of affairs which it claims has plunged the sovereignty movement into a state of crisis. The New Movement for Quebec wants a more ambitious assertion of Quebec's separate political identity, recommending the drafting of a constitution.





International

FRANCE

French President Nicolas Sarkozy and German Chancellor Angela Merkel have proposed that all 17 euro zone governments commit themselves to balance their budgets and to write that necessity into their constitutional laws by next summer. The two leaders had talks in Paris on Tuesday. They also agreed to start discussions on a tax on financial transactions and to push for better cross-border economic government through twice-yearly meetings of zone leaders. Mr. Sarkozy and Mrs. Merkel are under pressure to act to shore up the euro zone after a year-and-a-half of financial turmoil that continues despite bailouts of Greece, Ireland and Portugal.



LIBYA

Libya's chief rebel leader says the National Transitional Council will hand over power to an elected legislature eight months after the collapse of Moammar Gadhafi's régime. Abdel Jalil also said in Benghazi that a referendum on a new constitution would be held within 20 months. The remarks come as there have been reports of secret talks in Djerba, Tunisia, between the rebels and Gadhafi officials. And they coincided with the apparent defection of a senior figure in Gaddafi's security apparatus, who flew from Djerba to Cairo with his family on Monday.



AFGHANISTAN

A bomb in southern Afghanistan killed eight people in a vegetable market in Uruzgan province and injured dozens of others. The bomb planted on a motorcycle exploded in the province's Dihrawud district. The explosion came as residents broke their daily fast for the holy month of Ramadan.



ITALY

Refugees continue to arrive in Italy from North Africa. The authorities on the island of Lampedusa in mid-Mediterranean report that a boat carrying 280 migrants has arrived. More than 2,000 more refugees have arrived since the weekend. Tens of thousands of refugees have arrived at Lampedusa since this year's political upheavals in North Africa. In April, Italian Prime Minister Silvio Berlusconi pledged to clear the island and to move new arrivals to other centres in Italy. However since then, thousands of new refugees have arrived from Libya and Tunisia.



CHINA

China's railways ministry has acknowledged flaws in the construction of its high-speed rail system. The announcement in the state-run People's Railway Daily newspaper was referring to the July 23 collision of two high-speed trains in eastern China, which killed at least 40 people and left nearly 200 injured. The accident caused public anger amid allegations authorities had focused on development rather than safety. Last week, state media said investigations into the crash had determined it was avoidable. Media reports also said that design defects had likely caused equipment failures and emergency plans were also deficient.





Financial

PIPELINE FIRM ENTERS NEW BUSINESS

Enbridge Inc. says it will pay $70 million to take over a Toronto-based power company that is trying to build a transmission line connecting the U.S. state of Montana and the Canadian province of Alberta. Tonbridge Power Inc. has been developing the Montana-Alberta Tie Line power transmission project. Enbridge says it expects to spend $300 million to complete the project to convey wind power from Montana to feed Alberta's growing energy needs. The project has become bogged down in legislative and legal battles due to the refusal of some landowners to sell rights of way to Tonbridge. Enbridge says its acquisition of Tonbridge is the first step in its plans to develop a power transmission business.



MARKETS

TSX on Tuesday: 12,531 - 153. Dollar: US1.01 cents, up $1.11. Euro: $1.41. Oil: $86.92 - .96.



REAL ESTATE MARKET IN BETTER SHAPE

The Canadian Real Estate Association has changed its its outlook on the state of national home resales, and has come up with a more positive forecast. Previously, it had forecast a dip of one per cent in sales this year. But it's now predicting a positive result due to stronger than expected activity and prices in the second quarter. The association estimates that more than 450,000 housing units will be sold across Canada under its multiple listing service, up less than one per cent from 2010.





Sports

SPORTS

HOCKEY

Winnipeg Jets player Rick Rypien was found dead in his Crowsnest Pass, Alberta home on Monday, the National Hockely League club said Tuesday. He was 27.

The Royal Canadian Mounted Police said they received a call about a "sudden and non-suspicious" death, and investigated. No cause of death has been given.

Rypien had spent parts of six seasons with the Vancouver Canucks, but was twice in three years forced off the ice to deal with undisclosed personal problems.

Last month, the forward signed a one-year US$700,000 deal with the Jets.

National Hockey League Commissioner Gary Bettman, National Hockey League Players' Association executive director Don Fehr and the Jets' owners praised Rypien and offered their condolences.





Weather

WEATHER

Canada's weather for Tuesday. In the Canadian north, partly cloudy in Iqaluit and 12 degrees Celsius. Rain in Yukon and 12 in Whitehorse. Mainly sunny in British Columbia with a high of 21 in Vancouver. Mainly sunny across Alberta and Saskatchewan but raining in Manitoba with highs of 20 in Edmonton, 22 in Regina and 21 in Winnipeg. Mainly sunny across Ontario while cloudy in Quebec. Mostly rain across the four Atlantic provinces of New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland. Some temperatures: 28 in Toronto, 25 in Ottawa, 26 in Montreal, 22 in Halifax and 18 in Saint John's.





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