Friday, June 1, 2012

RCI Cyberjournal

Edition 31 May 2012
Canadian International Financial Sports Weather

Manhunt underway in body-parts case
An international manhunt has been launched for a porn actor wanted in a gruesome body-parts case as police announced Thursday that the suspect is believed to have fled the country. Montreal police have issued a countrywide arrest warrant for Luka Rocco Magnotta, and he has also been added to Interpol's wanted person's list. While Magnotta's story was making international news, clues were apparently being uncovered at the Montreal crime scene that led police to drastically expand their search. Police say the suspect may have fled to a different continent -- but wouldn't not confirm a report that the suspected destination was France. There could be unique obstacles in tracking down the suspected killer. Magnotta has used myriad aliases over the years.

NDP leader visits oilsands facility
The mayor of Alberta's oilsands region says New Democratic Party Leader Tom Mulcair has some valid points about the industry.
Melissa Blake met with him at Fort McMurray city hall after his visit to Suncor's oilsands project Thursday. She said she doesn't entirely disagree with his concerns about environmental sustainability. She also says she gives Mr. Mulcair credit for meeting with locally elected officials. She also said it's a positive sign that some of the people accompanying Mr. Mulcair said they planned to return to the region. The mayor added, however, that she doubts the oilsands have much to do with driving up the value of the dollar and hurting central Canadian manufacturing, as Mulcair has suggested.

NL oil project closer to development
The Canada-Newfoundland and Labrador Offshore Petroleum Board has approved an application to develop the $6.5-billion Hebron oil project off Newfoundland. The federal-provincial regulatory body says its decision means that ExxonMobil Canada can proceed to develop the oilfield, which is estimated to contain about 707 million barrels of oil. Hebron is located about 340 kilometres southeast of St. John's and production is expected to begin in 2017, if it proceeds. A report by the Hebron Public Review Commission released in February said the project could generate $20 billion for the province over 30 years.

Student negotiations break down in Quebec

An attempt to find a solution to the Quebec student crisis has fallen apart. After four days of negotiation, the provincial government and student groups announced Thursday that their talks had gone nowhere. There has been speculation that if these latest negotiations failed the government might call a provincial election and ask Quebec voters to help settle a dispute that has made international news. The students say the government had offered nothing except for a $35 discount on tuition hikes, and was unwilling to rescind a controversial law that sets limits on protests.

Saskatchewan joins tobacco suit
Saskatchewan is joining the list of provinces suing the tobacco industry for the costs of treating smoking-related illnesses. The province has proclaimed legislation which gives it legal authority to file a lawsuit on behalf of residents. Justice Minister Gordon Wyant says the province intends to hold the industry accountable. British Columbia, New Brunswick, Ontario and Newfoundland and Labrador have already filed similar lawsuits. Alberta said Wednesday that it will also seek to recover $10 billion from tobacco companies to cover the estimated cost of caring for patients with smoking-related illnesses dating back to the 1950s. Manitoba, Nova Scotia, Prince Edward Island and Quebec are expected to file shortly.


UN warns of Syrian civil war
U.N. Secretary-General Ban Ki-moon says that Syria is at risk of a devastating civil war. Speaking at a conference in Istabanbul, Mr. Ban said that the risk was heightened following the massacre of 108 civilians in the town of Houla last weekend. His comment echoes fears raised by the special envoy to Syria, Kofi Annan. Mr. Annan says that Syria might already have reached the tipping point of civil war. Last month, Mr. Annan brokered a ceasefire as part of a peace plan for Syria, but the ceasefire soon failed. The regime of President Bashar al-Assad has cracked down violently on anti-government activists who began demanding more democracy last year.

Myanmar opposition figure visits expats
Aung San Suu Kyi has used her first foreign trip in 24 years to fight for her countrymen suffering abroad, millions of economic migrants unable to work at home but vulnerable to exploitation elsewhere. On Thursday, she pressed her concerns about the millions of Myanmar migrants living in Thailand in a meeting with the country's deputy prime minister. Myanmar's sputtering economy, in ruins after half a century of military rule and years of harsh Western sanctions, has forced millions of people to seek jobs abroad. Many crossed the borders illegally to work low-skilled jobs for long hours at pay below their Thai counterparts. They typically lack health and social security benefits, too, and complain of not being paid on public holidays.

Flight recorder from Indonesia crash located
Villagers in Indonesia have found the flight data recorder from a Russian passenger jet that crashed into a volcano three weeks ago, killing 45 people. Investigators hope that the recorder could explain what caused the crash. The cockpit voice recorder from the Sukhoi Superjet 100 was found about a week after the crash. The data recorder was buried in a landslide caused by the crash. The device was uncovered by rains. Villagers also found the remains of some of the victims and parts of the aircraft. The plane was on a demonstration flight for representatives of Indonesia's domestic airlines when it crashed into Mount Salak.

New Serb president inaugurated
Former nationalist opposition leader Tomislav Nikolic was inaugurated as Serbia's new president Thursday, blasting his pro-European Union predecessor for the country's deep economic and social problems and further fueling political turmoil after his surprise election. Mr. Nikolic, who claims to have shifted from being staunchly anti-Western to pro-EU, was sworn in for a five-year term at an inaugural session of Serbia's new parliament. He defeated predecessor Boris Tadic in the May 20 presidential runoff, and Nikolic's populist Progressive Party won the most seats in the 250-member assembly. But because Mr. Tadic's pro-EU Democrats have more allies in the parliament to form the next government, The president may be forced to propose Mr. Tadic as the next prime minister, a position more powerful than the presidency.

Hostage killed in Nigeria
A German engineer who was kidnapped in Nigeria has been killed in an unsuccessful rescue. Edgar Fritz Raupach was abducted five months ago by a group affiliated to al-Qaida in the Islamic Maghreb known as AQIM. An operation to free him was staged early on Thursday. No details were initially reported. Abductions are common in Nigeria. On Thursday, an Italian engineer was kidnapped by armed men in western Kwara state. In March, a Briton and an Italian abducted in northwest Nigeria were both killed in a failed rescue attempt by British and Nigerian special forces.


The Toronto Stock Exchange on Thursday: 11,512 + - 79. Canadian dollar: US9. Euro: $1.27. Oil: $86.64 - $1.18.

Court approves agri deal
Viterra says the $6.1-billion takeover of the Canadian agribusiness by European commodities giant Glencore PLC has been approved by the Ontario Superior Court of Justice. Viterra shareholders voted overwhelmingly in favour of the deal earlier this week and the federal Competition Bureau has already indicated it doesn't plan to intervene. The Calgary based company said 99.8 per cent of votes cast by Viterra shareholders were in favour of accepting the offer of $16.25 per share in cash from the Swiss commodities giant. The Ontario Superior Court of Justice handed down its ruling following a hearing Thursday. Viterra says it expects the deal to close by the end of July, but adds that could change.

Bank profits up
Canada's five biggest banks saw profits rise about four per cent in the second quarter, as they benefited from solid domestic consumer banking operations. CIBC was the last of the group to release its results on Thursday, which brought the overall tally of profits to $6.55 billion for the quarter. That's up from $6.28 billion a year ago.


The Calgary Flames' new head coach has championship cred. The Flames have named Bob Hartley to the successor to Brent Sutter. Hartley won a Stanley Cup with Colorado in 2001. He spent last year coaching a Swiss club.


British Columbia on Friday, rain, with a forecast high temperture in Vancouver of 15. Yukon: mix sun cloud. Northwest Territories: sun. Nunavut: rain. Whitehorse 15, Yellowknife 19, Iqaluit 3. Mainly sunny Alberta, Saskatchewan and Manitoba: 21, Regina 23, Winnipeg 22. Ontario: showers, Quebec: sunny with cloudy periods. Toronto 17, Ottawa 17, Montreal 20. Sunny across Atlantic Canada except for showers in Newfoundland. Fredericton 21, Halifax 18, Charlottetown 1, St. John's 12.

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