Wednesday, January 4, 2012

RCI Cyberjournal

Edition 3 January 2012
Canadian International Financial Sports Weather
Canadian

Poll shows drop in Canadians positive about current financial situation


A new poll shows 64 per cent of Canadians feel positive about their current financial situation. That is five per cent lower than a year ago. The poll, conducted for the Canadian Imperial Bank of Commerce in mid-November, also found that a higher number of Canadians, 72 per cent, were confident of reaching their future financial goals. That is unchanged from last year. Across age groups, confidence in achieving financial goals was generally strong, although there was a declining trend with age.



Salaries of Canadian executives overshadow other salaries


A new report says the 100 highest-paid Canadian executives made an average of $8.38 million in 2010, a 27 per cent increase over the year before. The report by the research group Canadian Centre for Policy Alternatives says that figure is 189 times the average wage of just over $44,000. The group says the top earner was Frank Stronach, the founder of auto-parts manufacturer Magna International, who made almost $62 million .



Missing social support for Canada's elite troops


A military report suggests Canada's elite troops and their families may not be getting the social support they need. A survey by the special forces operations regiment found that excessive secrecy surrounding the soldiers' missions holds families back in asking for help. The report says many are afraid to seek help for fear of violating operational security. The regiment's commander, Gen. Denis Thompson, says the military is addressing the issue. The report was obtained by Canadian Press news agency. In other newsk, 1600 reserve Canadian soldiers from the province of Quebec are on their way to the U.S. state of North Carolina to take part in a week-long training exercise with American forces. The military says its part of an effort to build on lessons learned during the Canadian war effort in Afghanistan.



More aid headed to Attawapiskat reserve


Four members of the Volunteer Emergency Response Team in Ontario will deliver aid supplies this week to the Attawapiskat First Nation aboriginal reserve. The James Bay reserve in northern Ontario declared an emergency in October because 25 families were living in tents and small sheds as temperatures dropped below freezing. The supplies include 250 water purification systems, water purification tablets and 300 sets of thermal clothing.



Attack on Canadian mosque stirs anger


A Muslim organization says an attack on a mosque in the province of Quebec should be treated as a hate crime. Windows were broken at the mosque in the city of Gatineau on Monday. Two cars the parking lot were set on fire. The Canadian Council on American-Islamic Relations says it's not the first time the mosque has been the target of vandals. It says such attacks divide communities by stigmatizing visible minorities.



Toronto man will continue fight to prove he is Diefenbaker's only child


A Toronto man says he's not giving up after tests failed to prove he's the son of former Canadian prime minister John Diefenbaker. George Dryden says the DNA tests done on items at a museum, where Diefenbaker articles are on display, were inconclusive. Mr. Dryden believes his mother had an affair with Diefenbaker. Mr. Dyrden is trying to prove he is Diefenbaker's only child. Diefenbaker was Canada's 13th prime minister. He held the post in the late 1950s and early 1960s.



Grenada police officers make brief appearance in court


Five police officers in the Caribbean country of Grenadacharged with manslaughter in the death of a Toronto man will next appear in court Friday. The officers made a brief appearance in a St. George's court Tuesday before the matter was moved to a different jurisdiction. Grenada Police superintendent Dunbar Belfon says the preliminary inquiry will be heard Friday in St. David's, where the alleged beating of 39-year-old Oscar Bartholomew took place. Bartholomew, a native of Grenada, had returned to the island to spend Christmas with relatives. He was attacked after he hugged a plainclothes policewoman he mistook for a friend

 

 



Well known businessman in Canada's Province of British Columbia dies 


A well-known British Columbia business leader and philanthropist has died. Milton Wong was 82. Wong, who grew up in Vancouver's Chinatown, helped broker British Columbia's first modern-day land claims agreement. He was instrumental in helping to structure land claim and business partnerships for the aboriginal First Nations group and also played a role in the Nisga'a Treaty in 1998. He served as chancellor of Simon Fraser University from 1999 to 2005 and raised money for organizations such as the B.C. Cancer Foundation, the Red Cross and the Salvation Army. British Columbia Premier Christy Clark, provincial New Democratic Party Leader Adrian Dix and Vancouver Mayor Gregor Robertson said Wong enriched many lives with his contributions to cultural harmony, education and public service. Wong also received the Order of Canada, the country's highest civilian award.

 





International

Arab League calls emergency meeting over Syria


The Arab League has called for an emergency meeting to discuss whether to withdraw the group's monitors from Syria. The move comes after security forces are still killing protesters despite the observers' presence. The meeting will take place Saturday in Cairo, where the Arab League is based. Reports say the Saturday meeting will not make a final decision but will send its recommendations to another, high-level ministerial meeting. No date was set for that meeting. There are about 100 Arab League monitors in Syria, dispatched to verify the regime's compliance with an Arab League plan to stop its crackdown on a 9-month-old uprising. But activists say hundreds have been slain in the week since the observers started work. More than 5,000 people have been killed since the crackdown began last March.



Egypt votes again


Egyptians voted in the third round of a parliamentary election on Tuesday. It's part of a planned transition from military to civilian rule after last year's overthrow of President Hosni Mubarak. The ruling Supreme Council of the Armed Forces will retain power even after a lower house run-off vote ends on January 11. But it has promised to hand power over to an elected president by July. The Muslim Brotherhood and other Islamist parties repressed during Mr. Mubarak's 30-year rule are strong front-runners.



Iran threatens attack on U.S. warship


Iran is threatening to take action if the U.S. Navy moves an aircraft carrier back into the Gulf. Army chief Ayatollah Saleh says the United States had moved an aircraft carrier out of the Gulf because of Iran's naval exercises. He says Iran will take action if the ship returned. The warning comes as new U.S. and European Union financial sanctions take a toll on Iran's economy. The prospect of sanctions targeting the oil sector has affected Iran's currency. It has fallen by 40 percent against the U.S. dollar in the past month. Iranians are trying to buy dollars to protect their savings from the currency's fall. The West has imposed the increasingly tight sanctions because of Iran's nuclear program that Western countries believe aims to build an atomic bomb.



North Koreans turn out to support new leader


Tens of thousands of people gathered in North Korea's capital, Pyongyang, Tuesday to support new leader, Kim Jong Un, as he consolidates power. The huge crowd stood in snow-covered Kim Il Sung Square as senior North Korean officials clapped on a balcony above and urged the country to unite around Kim Jong Un. The rally comes as Kim Jong Un takes power of the ruling party and military following the death of his father, Kim Jong il last month. It wasn't immediately clear if Kim Jong Un was at the rally.



China leader worried about culture


China's president, Hu Jintao, has told Communist Party members that hostile forces abroad are trying to westernize and divide the country with their cultural influence. He say Chinese officials must remain vigilant against such efforts. The Communist Party magazine Seeking Truth has published an excerpt of a speech by Hu to party leaders in October in which he said China is facing a difficult ideological struggle. Hu did not specify who the hostile forces are. But Chinese leaders have tried to strengthen their legitimacy with a more demanding public by depicting China as being engaged in an ideological and cultural war with the West. Party leaders have previously said China must create more cultural products like books, films and art to attract Chinese audiences.



Burmese families upset over clemency announcement


Families of political prisoners say a government clemency offer falls short of national reconciliation promises, and they say it shows that prisoners of conscience may remain in prison for a long time. The families called the order issued by President Thein Sein a disappointment and say it will cause a loss of confidence in his 10-month-old nominally civilian government. Many activists and relatives of prisoners had hoped for an amnesty instead of sentence reductions. Under the order issued Monday, death sentences will be commuted to life imprisonment, and prisoners serving more than 30 years will have their sentences cut to 30 years. Many political prisoners have lengthy terms and will remain in prison.

 





Financial

CAW chief says tough year looms for Canadian labour


The head of the Canadian Auto Workers is predicting 2012 will be a tough one for organized labour. Ken Lewenza says lockouts at two major industrial plants in central Canada -- an Alcan smelter in Quebec and a locomotive plant in London, Ontario -- may signal a tough year ahead in Canadian labour relations. Mr. Lewenza points to the erosion of the manufacturing sector in Canada and high unemployment as key challenges for workers across the country -- both unionized and non-unionized and in both the private and public sector.



Tuesday's markets


In Toronto, the S&P/TSX Composite Index closed up 253.34 points at 12,208.43. The TSX Venture Exchange was up 21.62 points at 1,506.28 and theTSX 60 was up 14.51 points at 695.38. In New York, the Dow Jones Industrial Average surged 179.82 points to finish at 12,397.38. The Nasdaq Composite jumped 43.57 points to 2,648.72, while the S&P 500 advanced 19.46 points to 1,277.06. The Canadian dollar closed at 98.91 cents U.S., up 0.58 of a cent from Friday's close. The U.S. dollar stood at 101.10 cents Cdn, down 0.60 of a cent. Pound sterling closed at C$1.5822, up 0.24 of a cent, and US$1.5650, up 1.16 cents. The Euro was worth C$1.3196, up 0.06 of a cent.

 





Sports

Sports


WORLD JUNIOR HOCKEY CHAMPIONSHIP:

Canada was set to face Russia Tuesday night in one semi-final while Finland was to play Sweden in the other semi-final. Russia defeated Canada 5-3 in last year's gold medal game, scoring five third-period goals to cap a stunning comeback.

CANADIAN FOOTBALL LEAGUE

The Calgary Stampeders announced Tuesday they had traded veteran quarterback Henry Burris to Hamilton for quarterback Kevin Glenn, offensive lineman Mark Dewit and a conditional draft pick. Burris was the CFL's outstanding player in 2010 but lost his starting job to Drew Tate late last season.

 





Weather

Wednesday's forecasts


Vancouver has rain with a forecast high temperature of nine degrees Celsius. Calgary is mainly cloudy, a high of 14. Regina and Winnipeg have clearing skies. Highs: four in Regina, zero in Winnipeg. Toronto is cloudy with a chance of flurries, a high of minus-one. Ottawa has increasing cloud and light snow, a high of minus-eight. Montreal has sun followed by increasing cloud with a chance of flurries, a high of minus-nine. Fredericton is mainly sunny, a high of minus-10. Charlottetown has flurries, a high of minus-three. Halifax has a mix of sun and cloud with a chance of flurries, a high of minus-five. St. John's has rain, a high of seven. Whitehorse is cloudy, a high of minus-nine, Yellowknife has increasing cloud, a high of minus-23. Iqaluit is sunny, a high of minus-29.





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