Saturday, June 2, 2012

RCI Cyberjournal

Edition 1 June 2012
Canadian International Financial Sports Weather
Canadian

GM lays off 2,000
As many as 2,000 workers at a Canadian auto plant are facing layoffs. General Motors of Canada has announced that it will close the older part of its plant in Oshawa, ON, next year. The plant produces the Chevrolet Impala and the Equinox model cars. Part of the plant's production will be shifted to another GM plant in Oshawa. GM is reducing its operations in Canada as part of a North American restructuring begun two years ago under bankruptcy court protection. GM has already closed a truck plant in Oshawa and a transmission factory in Windsor, Ontario. GM Canada employs more than 10,000 people across Canada, or less than half of its workforce at the height of GM's Canadian operations.


Railway resumes operations after strike
Canadian commodity producers say they're relieved their products, such as grain and minerals, will be moving again now that operations by Canadian Pacific Railway have resumed after Parliament ordered striking workers back to the job. The Mining Association of Canada said Friday its member companies will have a backlog as they rely on rail to get supplies to work sites and products to market. CP Rail operations resumed across the railway's entire Canadian freight network at about 7 a.m. Eastern Time, the company said in an email Friday. The union representing the 4,800 strikers, the Teamsters Canada Rail Conference, asked its members to end their walkout after federal back-to-work legislation became law Thursday night. The workers, including locomotive engineers, conductors, yard workers and others, walked out May 23, forcing Canada's
second-biggest railway to shut down freight operations.



Canada seeks staging ground in Singapore
Canada is seeking a deal with Singapore to establish a military staging post there as part of its effort to support the United States' pivot towards Asia to counter a rising China. Defence Minister Peter MacKay reported the plan from Singapore, where he's at a major meeting of defence leaders.
MacKay says he detects great concern among his Asian counterparts about China's military muscle-flexing. The minister says a military hub in Singapore would allow Canada to respond more effectively to a natural disaster or other crisis in South Asia. Canada has similar arrangements with Kuwait and Jamaica, to give it military footholds in the Middle East and the Caribbean.



B.C. implements bullying plan
British Columbia Premier Christy Clark says she wants B.C. schools to implement a 10-point anti-bullying plan designed to ensure every child feels safe, accepted and respected. Clark's calling the $2-million program ERASE, which stands for Expect Respect and a Safe Education. She says the plan will lead the country in addressing bullying, including a five-year training program for teachers and community workers that helps identify and address bullying. Mrs. Clark says the government will introduce a smartphone application that allows children to report bullying anonymously and she wants teachers to dedicate one of their annual professional development days entirely to dealing with bullying. She says bullying and threat assessment training programs will also be made available to university education programs.



PM marks Armed Forces Day
Canadian Prime Minister Stephen Harper marked Canadian Armed Forces Day by visiting the city in northern Ontario known for its underground NORAD base, praising the work of the military and deriding "moral equivalency" of the Cold War. The military monitored the skies 24 hours a day for more than 40 years in North Bay, Ont., from underground NORAD operations, a facility cut through the Canadian Shield and built to withstand a
nuclear blast. Speaking at an event in North Bay, Mr. Harper said NORAD's operations in the city are now above ground, but are just as crucial.
He says the skies remain uncertain in the post-9/11 world, and says it's important to remember the first duty of a national government is to protect its people and its territory from external threats.




International

UN calls for Syria to implement agreed peace plan
UN special envoy Kofi Annan called on the Syrian president Friday to implement a U.N.-brokered peace plan following a horrific weekend massacre that killed more than 100 people. The appeal came as the international community faced increasing pressure to act against the regime as frustration mounts over the Houla killings and the failure of Mr. Annan's plan to stop the bloodshed. Nearly 300 UN observers have been deployed around Syria to monitor a cease-fire that was supposed to go into effect on April 12, but the peace plan has unraveled amid daily violence and the images from the Houla massacre caused world outrage. Many of the dead were women and children who were gunned down inside their
homes. The government denies any role and blames rebel fighters.



Greeks evenly divided over bailout
Supporters and opponents of Greece's international bailout are virtually neck and neck going into a June 17 election that may decide the country's future in the euro zone, polls showed on Friday, the last day their publication is allowed. Three surveys showed the conservative New Democracy party, which backs the country's international bailout, with a narrow lead. But one poll put the radical leftist SYRIZA party, which strongly opposes the bailout, first. SYRIZA says it wants Greece to stay in the euro but ditch the 130-billion-euro international rescue package and the tough
austerity policies prescribed by the European Union and other lenders. EU leaders have warned Greece against renouncing the bailout, threatening to pull the plug on new funding, a move that could lead to rapid bankruptcy and a exit from the single currency.



Myanmar opposition leader lauded
Burma's Nobel peace laureate, Aung San Suu Kyi, received a standing ovation at her first speech before an
international audience on Friday. She spoke briefly at the World Economic Forum in Bangkok, Thailand, where she is making her first trip outside Burma in 24 years. For many of those years, she was held under house arrest. In her speech, Miss Suu Kyi asked the world community to help Burma in its attempts to forge democracy after many years of military government. But she warned listeners to look at recent moves to democracy in Burma with healthy skepticism. Miss Suu Kyi was elected to Parliament two months ago. Next month, she plans to visit five European countries, including England and Norway, where she will formally accept her Nobel Peace Prize after a lapse of 21 years.



Egyptians protest against former Mubark associate
Thousands of people took to the streets in cities across Egypt on Friday to demand that Ahmed Shafiq, a former senior official in Hosni Mubarak's ousted regime, be disqualified from next month's presidential runoff. Mr. Shafiq, who served as Mubarak's last prime minister, was one of
the top two finishers in the first round of Egypt's landmark presidential election last month, advancing to a June 16-17 runoff against Mohammed Morsi, the candidate of the fundamentalist Muslim Brotherhood. In the Mediterranean port city of Alexandria, at least 7,000 protesters, some of them carrying Egyptian flags or holding their shoes in the air in a sign of disrespect, said that Mr. Shafiq should be barred from running because of his senior position in the Mubarak regime. Smaller rallies demanding Shafiq's disqualification also took place in Cairo, Port Said, Suez, North Sinai as well as at least six other provinces.



Irish approve emergency measures
Ireland's government declared victory in a referendum on Europe's new fiscal treaty on Friday but saw little reason to celebrate as problems across the euro zone continued to weigh on steady progress at home. The government had campaigned strongly for voters to back the treaty, arguing that a rejection would hurt Ireland's chance of attracting the investment it needs to recover. Dominic Hannigan, deputy director of elections for the junior governing Labour party, predicted it would pass by a margin of 57 percent to 43 percent. Sean Crowe, a member of parliament for the opposition Sinn Fein party which spearheaded the "no" campaign, said he accepted that the result was a "yes".




Financial

Markets
The Toronto Stock Exchange on Friday: 11,361 - 152. Canadian dollar: US96. Euro: $1.29. Oil: $86.64 - $1.18.




Sports

Sports
SKIING
Canadian skicross athlete Julia Murray is retiring at only 23 years old. Murray competed at the Vancouver Olympics and won a silver medal at the 2011 world championships. She says she can't risk re-injuring her knee after a long recovery.




Weather

Weather
British Columbia on Saturday: rain south, mix sun cloud north, high C14 Vancouver. Yukon: rain. Northwest Territories, Nunavut: sun. Whitehorse 8, Yellowknife 18, Iqaluit 3. Alberta, Saskatchewan: rain. Manitoba: sun. Edmonton 18, Regina 25, Winnipeg 26. Ontario, Quebec: rain. Toronto, Ottawa 17, Montreal 14. Maritimes: sun. Newfoundland: rain. Fredericton 21, Halfax 18, Charlottetown, St. John's 8.




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