Tuesday, August 23, 2011

RCI Cyberjournal

Edition 22 August 2011
Canadian International Financial Sports Weather
Canadian

NDP CHIEF DEAD

The leader of Canada's official opposition New Democratic Party, Jack Layton, has died of cancer at the age of 61. Mr. Layton who was recently diagnosed with a second type of cancer had been stricken with prostate cancer last year. His NDP party became the official opposition in the House of Commons after last May's federal election, the most successful campaign in the party's history. During his eight years as leader, Mr. Layton rebuilt the NDP, muted its internal dissensions, united its fractious factions and changed it from old-style dogma to present a face more acceptable to middle-class voters. Funeral arrangements have not yet been announced. Prime Minister Stephen Harper saluted Mr. Layton's contribution to public life, a contribution he says will be greatly missed.



DENMARK CONTESTS CANADA'S ARCTIC SOVEREIGNTY CLAIMS

Denmark says its Arctic sovereignty claim conflicts with similar claims made by Canada and Russia. A Danish government strategy paper says it and Greenland will claim three areas off that territory's shores, including one that encompasses the North Pole. Under the UN Convention on the Law of the Sea, countries can claim sovereignty out to 200 nautical miles from their shorelines. But they can claim sovereignty beyond that if they can prove the existence of an extended continental shelf. Canada, Denmark, Russia, the U.S. and Norway are all preparing such claims for final arbitration by the UN.



OTTAWA WOULD NEGOTIATE NEW HEALTH ACCORD

Canada's health minister, Leona Aglukkaq, says the federal government will work with the provinces and territories to renew the current 10-year, $41-billion health accord which expires in 2014. Mrs. Aglukkaq didn't mention a date for the beginning of negotiations. The minister was speaking at a convention of the Canadian Medical Association in St. John's, NL. During the last election campaign, Prime Minister Stephen Harper promised to maintain current federal health-care funding at its present level plus six-per cent a year until 2016 but has given no promises beyond then. The CMA received a report from a six-member panel of experts suggesting that it consider everything from user fees, franchises and insurance schemes to boost the health-care system.



QUEBEC LEADER VISITS ASIA

Premier Jean Charest of the Canadian province of Quebec is travelling to Asia this week aimed at business contacts for his province. He will visit Japan and China to meet with politicians and business leaders as he promotes his government's new plan for northern Quebec. The plan centres on developing the mining and energy industries. Mr. Charest estimates it could mean $80 billion in public and private investment over the next 25 years.



TORNADO WREAKS HAVOC

Residents of the town of Goderich in Canada's province of Ontario were cleaning up the debris Monday after a devastating tornado that left one person dead and 37 injured. The tornado, packing winds up to 300-kilometres an hour, was Ontario's most powerful tornado in 15 years. A state of emergency is in effect in Goderich, where the town centre is off limits to residents because there's so much damage. Several downtown businesses were reduced to virtual rubble, and many trees were toppled.





International

LIBYA

The whereabouts of Libyan strongman Moammar Gadhafi were unknown on Monday, as rebels mopped up remnants of his military forces in Tripoli. Hundreds of people have been killed since two rebel columns entered the city on Saturday. Tanks and sharpshooters loyal to Gadhafi continue to hold out in small areas of Tripoli. The al-Jazeera television network reports that one of the dictator's three sons who were captured, Mohammed, has escaped. In Washington, U.S. President Barack Obama urged Gadhafi to give himself up to stop the bloodshed.



SYRIA

The Syrian government's ongoing political crackdown was widely condemned on Monday in Geneva at the start of a session of the UN Human Rights Council. Among the delegations expressing condemnation were the U.S., the EU, Egypt, Israel and Saudi Arabia. However, China, Russia and Cuba rejected outside interference in Syria's internal affairs. The UN High Commissioner for Human Rights, Navi Pillay, said in a speech that the Syrian military and security forces continue to use excessive force, including heavy artillery, to suppress peaceful demonstrations. She called on the Syrian government to release all prisoners arrested for taking part in them. Syria's ambassador rejected the accusations and accused "large states" of carrying out a misinformation campaign against his country. Meanwhile, activists in the central Syria city of Homs report that the forces loyal to President Bashar al-Assad killed three people on Monday.



RUSSIA

The mayor of a Russian town near Moscow was shot dead Monday in a possible contract killing. Police say Yevgeny Dushko, mayor of Sergiyev Posad, a town of 105,000 people some 60 kilometres north of the capital, was leaving his apartment building when an unidentified gunman shot him twice. He was voted in as mayor in April by the 25-person local parliament in a new municipal elections system that excludes a popular vote. Mr. Dushko's father Anatoly Dushko told Moscow Echo radio that his son was killed for interfering with the business interests of various local businessmen and officials.



CHINA

U.S. Vice-president Joe Biden left China on Monday after a five-day visit aimed at boosting confidence in his country's troubled economy and travelled to Mongolia. Mr. Biden flew out of the Chinese city of Chengdu after pledging that the United States would never default on its debts, following a historic downgrade this month of the country's top credit rating. China is the largest foreign holder of U.S. debt and Mr. Biden's visit was meant to assure Chinese leaders that their massive investment remained safe. Beijing has invested an estimated $1.2 trillion in U.S. Treasury bonds.





Financial

SUNCOR NONCOMMITTAL ON RESUMPTION IN LIBYA

Suncor Energy Inc., Canada's biggest energy firm, says it's too soon to say when its oil operations in Libya will resume. Suncor says it's monitoring the situation there closely. The company withdrew all its employees when the revolt against the Gadhafi régime began in February and has said said they won't return until Gadhafi is no longer in charge. In the second quarter, Suncor took a $514-million writedown on its Libyan assets. Suncor's operations in another conflict-ridden country, Syria, have continued throughout a bloody crackdown on anti-government protests. The company acquired assets in both countries through its 2009 merger with Petro-Canada.



PROTESTS AGAINST CANADIAN PIPELINE PROTEST START

About 50 environmental activists were arrested on Sunday while protesting in Washington in front of the White House against a planned Canadian oil pipeline. Police say they all were later released. Fifty others had been arrested on Saturday, some of whom were still in custody on Monday. The demonstrators were protesting against a planned extension of a pipeline operated by TransCanada Pipeline to convey crude oil from Alberta's oilsands developments to refineries on the Gulf Coast of Texas. Opponents say the Keystone XL plan will eventually cause further oil spills and worsen the U.S. reliance on hydrocarbons. Supporters of the project say it will create thousands of American jobs.



MARKETS

TSX on Monday: 12,068 + 61. Dollar: US$1.01, down .15. Euro: $1.42, down .10. Oil: $84.37 + $1.96.





Sports

SPORTS

BASKETBALL

The Canadian men's basketball team are heading

home with silver from the World Universiade, losing to Serbia 68-55

in Monday's final.

The Canadians were making their first appearance in the

gold-medal game since 1997.

They advanced to the final with a 71-58 semifinal victory over

Romania.

TENNIS

Canada's rising tennis star Milos Raonic won't be

playing in the U.S. Open.

The hard-serving 20-year-old from Thornhill, Ont., who's on the

mend from hip surgery, announced the news Monday.

The U.S. Open begins next Monday in New York.

Raonic is Canada's highest ranked singles player ever at No. 29,

quickly rising up the ranks this year highlighted by his first ATP

tournament victory in February at the SAP Open in San Jose.

But he suffered a hip injury in the second round of Wimbledon and

underwent surgery on July 5 in Vail, Colo.



SPORTS

BASKETBALL

The Canadian men's basketball team are heading

home with silver from the World Universiade, losing to Serbia 68-55

in Monday's final.

The Canadians were making their first appearance in the

gold-medal game since 1997.

They advanced to the final with a 71-58 semifinal victory over

Romania.

TENNIS

Canada's rising tennis star Milos Raonic won't be

playing in the U.S. Open.

The hard-serving 20-year-old from Thornhill, Ont., who's on the

mend from hip surgery, announced the news Monday.

The U.S. Open begins next Monday in New York.

Raonic is Canada's highest ranked singles player ever at No. 29,

quickly rising up the ranks this year highlighted by his first ATP

tournament victory in February at the SAP Open in San Jose.

But he suffered a hip injury in the second round of Wimbledon and

underwent surgery on July 5 in Vail, Colo.

HOCKEY

CTV News is reporting that Pittsburgh Penguins captain

Sidney Crosby has suffered a setback in his comeback from a

concussion that ended his season prematurely last January.

The network says Crosby's concussion symptoms returned about a

week ago to the extent that he has cancelled all his scheduled

on-ice workouts in a Halifax rink.

CTV says Crosby has also stopped all other training activities.

Citing several unnamed sources, the network says it appears

unlikely that Crosby will attend the start of training camp next

month.





Weather

WEATHER

British Columbia on Tuesday: rain north, mix sun cloud south, high C21 Vancouver. Yukon: mix sun cloud. Northwest Territories, Nunavut: rain. Whitehorse 16, Yellowknife 18, Iqaluit 8. Alberta, Saskatchewan: rain north, sun south. Manitoba: sun. Edmonton 21, Regina 27, Winnipeg 31. Ontario: sun south, rain north. Quebec: mix sun cloud. Toronto 29, Ottawa 23, Montreal 22. New Brunswick, Newfoundland and Labrador: rain. Nova Scotia, Prince Edward Island: mix sun cloud. Fredericton, Charlottetown, St. John's 20, Halifax 18.





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