11/11/2014 (1:20 pm)

Police identify man shot dead in Brampton

Filed under: management, money |

Peel Regional Police have identified the victim who died after a double shooting in Brampton Monday night.

Collins Kwarteng, 22, was pronounced dead on scene when emergency personnel arrived at Yellow Avens Blvd., near Airport Rd. and Countryside Dr., at about 10 p.m., police said.

A 20-year-old male victim was taken to hospital with minor injuries but has since been released, according to Peel Paramedics.

Police are still canvassing the area and are appealing to witnesses to come forward with any information.

Officers have not released any suspect information.

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11/10/2014 (2:24 am)

Who

Filed under: News, money |

For all the talk that U.S. Treasuries will tumble once the Federal Reserve starts to raise interest rates, investors in the longest-dated debt securities are finding little cause for concern.

Government bonds due in 30 years, the most vulnerable to losses when growth picks up and inflation accelerates, have returned more than 20 percent this year versus 2.9 percent for five-year Treasuries. That

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11/08/2014 (9:28 am)

Fans can say goodbye to Republic of Doyle

Filed under: Uncategorized, legal |

Republic of Doyle is getting a send-off at the Canadian International Television Festival.

The CBC series about a private detective in St. John’s, NL., began its final season in October, with the series finale scheduled to air Dec. 10.

And stars Allan Hawco, Krystin Pellerin and Sean McGinley will be around to say so long to fans in person at the festival, which runs Nov. 14 to 23 at the TIFF Bell Lightbox in Toronto.

In a news release, festival co-founder David Heath said the stars, as well as co-creator Perry Chafe and executive producers John Vatcher and Michael Levine, will attend the festival Sunday, Nov easy payday loans. 16 at 5 p.m. “to share their favourite clips from the show and to tease audiences with anecdotes from behind the scenes.”

Fans will also be able to meet the stars, the release said.

This is the sophomore year for the festival, which aims to showcase TV content and talent from Canada and around the world, and is open to both the public and the industry.

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11/05/2014 (3:32 am)

Asia stocks lower after Europe growth cut

Filed under: online, term |

SEOUL, South Korea (AP) — Asian stock markets mostly fell Wednesday as oil’s fall to a three-year low weighed on energy companies and weaker European growth forecasts dampened sentiment.

KEEPING SCORE: Hong Kong’s Hang Seng fell 0.6 percent to 23,715.82 and South Korea’s Kospi was down 0.2 percent to 1,931.43. Australia’s S&P/ASX 200 was nearly flat at 5,517.90. Markets in mainland China and Taiwan also fell while Singapore and Indonesia were slightly higher. Japan’s Nikkei 225 erased losses in the afternoon, finishing up 0.4 percent at 16,937.32. Chinese state oil giant PetroChina Co. fell 2 percent and China Petroleum & Chemical Corp., also known as Sinopec, fell nearly 2 percent. Japanese petroleum and metals company JX Holdings Inc. shed 3 percent.

OIL SLUMP: Benchmark U.S. crude hit a fresh three-year low at $77.05 a barrel, down 14 cents. The contract fell $1.59 to $77.19 on Tuesday. Oil prices have been in slump since the summer and the price of oil fell further Tuesday after Saudi Arabia decided to sell its oil at bargain prices to the U.S. in a bid to maintain its market share amid a boom in U.S. production. Lower oil prices are a double-edge sword for Asia. They could add to deflationary pressures in Japan and also serve as a reminder of weak global demand. But lower fuel costs could also increase disposable income.

EU GROWTH: The European Union cut its already low economic growth forecasts further on Tuesday to 0.8 percent for this year from a prediction of 1.2 percent made in the spring. Next year’s growth forecast for the 18 country euro currency bloc was reduced from 1 no fax payday advance.7 percent to 1.1 percent. German Chancellor Angela Markel said the situation in the euro zone is “extremely fragile.” Unemployment in the European Union is expected to decrease, but at a painfully slow rate.

THE QUOTE: “News that the EU has downgraded forecasts for euro zone growth is not a great surprise to markets given the tendency for forecasts to follow the economy lower,” said Ric Spooner, chief market analyst at CMC Markets. “Even so, it reinforces expectations of a low to moderate global growth outlook with downside risk to inflation.”

SOFTBANK SLIDE: Shares of Japanese telecommunications and internet company Softbank fell 2.3 percent in Tokyo after its quarterly financial report showed that its recent acquisition of U.S. carrier Sprint Corp. would weigh on its operating earnings. Sprint is eliminating 2,000 jobs, or about 5 percent of its staff, to cut $1.5 billion in annual spending. It reported a reported a $765 million loss last quarter.

WALL STREET: U.S. markets closed lower as energy stocks lost ground because of the falling oil price. The Standard & Poor’s 500 fell 0.3 percent to 2,012.10. The Nasdaq composite dropped 0.3 percent to 4,623.64. The Dow Jones industrial average bucked the trend, edging up 0.1 percent to 17,383.84.

CURRENCIES: The dollar rose to 114.16 yen from 113.69 yen late Tuesday to another fresh high. The euro fell to $1.2534 from $1.2548.

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10/28/2014 (12:56 am)

Norm Kelly easily takes Ward 40, Scarborough Agincourt

Filed under: Business, Rates |

Deputy Mayor Norm Kelly sailed to another easy victory in Scarborough-Agincourt.

“It’s lucky seven,” Kelly said in an interview, noting it was his seventh win since first being elected in 1994.

“This has been a very different election than the other ones,” he said. “I was holding the office of deputy mayor, so I had to keep an eye on other things at city hall.”

Kelly, a long-time politician, became the city’s de facto mayor last November when city council stripped Mayor Rob Ford of all but his statutory powers amid the crack cocaine scandal.

Council transferred most powers to the deputy mayor, a former history teacher, who loves to make historical references and offer reading list suggestions. He took to his new role with aplomb, and as a caretaker leader, promised he wouldn’t run for the top job.

Like many Toronto wards where incumbents are nearly impossible to knock off, Kelly only faced two opponents in the race — Josh Borenstein and Anthony Internicola payday loans lenders.

Borenstein, who ran in the last provincial election for the Green party in York Centre, proposed a Toronto dollar system, where the city would introduce its own currency. Internicola, who worked in business and ran his own painting company, is now a stay-at-home dad.

As deputy mayor, Kelly hit a bumpy patch in the spring when he tried to push for swift approval of Porter Airlines’ expansion plan to fly jets from the Billy Bishop airport.

Eventually, politicians voted to wait for more information including an environmental assessment and runway design, deferring any decision until next year for the new council to tackle.

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10/26/2014 (10:00 am)

ECB Finds $32 Billion Gap as 25 Banks Including Paschi Fail Test - Bloomberg

Filed under: Finance, Loans |

Twenty-five banks including Italy

10/20/2014 (4:24 am)

European Banks See ECB Exams as Step to Unlocking Lending - Bloomberg

Filed under: money, online |

The European Central Bank

10/16/2014 (2:20 pm)

Manufacturing Output Rebounds as U.S. Sustains Growth: Economy - Bloomberg

Filed under: Finance, Mortgage |

Production at American factories rebounded, claims for jobless benefits fell to a 14-year low and households held the most optimistic views in two years, signs the world

10/11/2014 (7:32 pm)

Global finance leaders pledge bold efforts

Filed under: Mortgage, marketing |

WASHINGTON (AP) — World financial leaders on Saturday promised “bold and ambitious” action to boost a global recovery that has shown recent disturbing signs of weakness.

That pledge from the International Monetary Fund’s policy-setting committee comes after a week of stomach-churning swings in the financial markets triggered by growing fears that parts of Europe could be in danger of slipping into another recession.

The 188-nation IMF called increasing economic growth an “utmost priority” and pledged to make the necessary structural changes that would stimulate greater growth. However, finance leaders have made similar promises in the past, only to fall short when trying to follow through.

The commitments came in a closing statement from the IMF’s steering committee at the fall meeting of the IMF and World Bank.

Officials also endorsed the IMF’s efforts to support three West African countries battling the Ebola crisis.

Managing Director Christine Lagarde said at a news conference that the IMF has made $130 million available to Guinea, Liberia and Sierra Leone, and that the IMF and other international agencies stood ready to do more.

“If more is needed, it will be there,” Lagarde said.

In addition to the $130 million in interest-free loans being provided by the IMF, the World Bank is providing $400 million for the Ebola efforts.

In its closing statement, the World Bank policy committee said that “swift and coordinated action and financial support are critical to contain” the Ebola crisis.

World Bank President Jim Yong Kim said that a Thursday meeting sponsored by the bank to highlight the funding needs was useful, but he stressed that the situation remained critical. “We call on all countries that are watching. If you have any sense that you want to help with this epidemic, do it now,” Kim told reporters at a closing news conference.

International relief agencies stressed that time was critical.

“The speed and amount of governments’ pledges will make the difference between Ebola containment or pandemic,” said Nicolas Mombrial, an official with Oxfam.

The IMF and World Bank meetings were preceded by talks among finance ministers and central bank presidents of the Group of 20 nations, which comprise 85 percent of the global economy. Those discussions focused on the recent growth slowdown and troubling signs that some countries in Europe could be close to another recession.

In a comment clearly aimed at Germany, Treasury Secretary Jacob Lew told finance ministers that European countries with “external surpluses and fiscal flexibility” needed to do more to address weakness in demand that was holding back growth.

Germany, Europe’s largest economy, ran a large trade surplus last year.

Lew also called on China, now the world’s second-largest economy, and Japan, No. 3, to make the necessary policy adjustments to increase their own growth.

A string of weak reports on economic activity in Germany, the largest economy in Europe, jolted financial markets this past week.

U.S. stocks ended their worst week since May 2012, and the market turbulence served as a backdrop for the finance meetings.

While Germany came under pressure at the meetings to move to support greater government spending to boost growth, German Finance Minister Wolfgang Schaeuble insisted in his remarks to the IMF that German Chancellor Angela Merkel’s government still believed the emphasis needed to remain on reducing deficits.

He said that this effort “will make the economy more robust and shock resistant and thus contribute to improved global financial stability,.”

Singapore Finance Minister Tharman Shanmugaratnam, who is the chairman of the IMF policy committee, said that the finance officials had spent a great amount of time discussing the need to move more quickly to adopt structural reforms in such areas as entitlement spending, labor markets and taxes to boost growth and avert a prolonged period of weak growth.

“It will require some political courage and some degree of realism on the part of national legislatures, but it can be done,” he said.

The finance officials also stressed the importance of the Federal Reserve and other central banks to communicate clearly their intentions so that emerging market economies have time to prepare their own economies and avert the shocks that were felt last year when the Fed first announced that it was thinking of starting to reduce it monthly bond purchases.

Fed Vice Chairman Stanley Fischer, delivering a speech at an IMF lecture series on Saturday, said, “We have done everything we can, within the limits of forecast uncertainty, to prepare market participants to what lies ahead.”

In response to an audience question about the timing of the Fed’s first interest rate hike, Fischer said, “If the world is growing much faster, it (interest rates) will lift off sooner and if the world is growing more slowly, then quite likely the lift-off will be later.”

The widespread view is that the Fed’s first increase in its benchmark short-term rate will occur around June of next year. This rate has been at a record low near zero since December 2008.

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10/07/2014 (2:52 am)

German train drivers kick off strike campaign

Filed under: management, term |

BERLIN (AP) — A union representing German train drivers has called members out on a nine-hour strike Tuesday night, starting a campaign of walkouts after members voted for strikes in a pay dispute.

The GDL union set the strike at national railway Deutsche Bahn for 9 p.m. (1900 GMT) Tuesday through 6 a.m. (0400 GMT) Wednesday.

GDL wants a 5 percent pay increase and shorter working hours for train drivers. It also is claiming the right to negotiate pay for other railway staff traditionally represented by a rival union.

Separately, a union representing Lufthansa pilots announced a walkout Wednesday and Thursday at the airline’s cargo unit. It already has hit the company’s passenger operations in a string of several-hour strikes over its demand that Lufthansa maintain transition payments for those wanting early retirement.

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