TSX, loonie down sharply as oil price drops

first_img Facebook LinkedIn Twitter Keywords Marketwatch Toronto stock market dips on weakness in the energy and financials sectors The TSX posted a triple-digit decline Thursday as a fall in the price of oil and fears of European volatility dragged down markets worldwide. The Toronto stock market’s S&P/TSX composite index was down 135.29 points to 15,019.39, with declines in every subsector of the market. The Dow Jones industrial average was dropped 170.69 points at 17,905.58, the Nasdaq index fell 40.11 points to 5,059.12, and the S&P 500 slid 18.23 points to 2,095.84. Luciano Orengo, portfolio manager at Manulife Asset Management, said news stories from Europe signalling volatility and the continuing efforts of the OPEC oil cartel to keep prices low are affecting both Canadian markets and the rest of the world. “The headlines are not positive,” he said. “The market is really like a hot air balloon. You really need to keep pumping it to keep it going up. Now the air that’s coming into the balloon is cooling down.” Dragging the market lower were mining and metals stocks, which dropped 2.3%, and the utilities sector, which lost 2%. The TSX energy sector also weakened, down 1.4%, as the July crude contract ended $1.64 lower at US$58.00 a barrel. August gold fell $9.70 to US$1,175.20 an ounce. The loonie was also down, dropping 0.33 of a U.S. cent to 79.97 cents. Orengo said the performance of the Canadian dollar is closely tied to oil prices because of the importance of the country’s commodity exports. He said the market’s expectations for Friday’s OPEC meeting were that the group, which accounts for about one-third of global oil production, would keep production high in order to maintain lower prices. “When oil’s down, it’s negative for the Canadian dollar,” he said. “Whatever comes out of that meeting tomorrow, it won’t bode well for oil prices because the status quo is most likely to prevail.” The International Monetary Fund announced Thursday that Greece has exercised its option to bundle together four payments it has to make in June into one at the end of the month, avoiding a Friday deadline for the first of the payments. Orengo said the decision added more uncertainty to the European stock markets, which in turn added to instability in North American equities. On Wednesday, European Central Bank president Mario Draghi said investors should be prepared for increased volatility in the euro zone, which Orengo said was a signal central banks are less interested in shoring up asset values. “Overall the news isn’t supportive of a continuing upwards trajectory for the markets,” Orengo said. TSX gets lift from financials, U.S. markets rise to highest since Marchcenter_img S&P/TSX composite hits highest close since March on strength of financials sector Peter Henderson Share this article and your comments with peers on social media Related newslast_img read more

Trump, At CDC, Offers Scattershot Defense Of Virus Response

first_img Legal Advocate Discusses Medical Abuse At Shut Down Georgia ICE Facility Share Related Stories For Whom The Bell Rings Add to My List In My List Updated Friday at 6:26 p.m.President Donald Trump’s visit to the Centers for Disease Control and Prevention on Friday turned into a scattershot defense of his administration’s handling of the growing coronavirus crisis, veering into political digs and detours.Trump, wearing his “Keep America Great” campaign hat while discussing the global worry, tried once more to quell growing alarm about the spread of the virus in America. But he quickly ventured into side matters and political squabbles.Trump called Washington state’s governor a “snake.” He said he’d prefer that people exposed to the virus on a cruise ship be left aboard so they wouldn’t be added to the count for the nation’s total number of infections.The president touted the accuracy of the test to detect the coronavirus, which members of his administration have acknowledged is not available to all who wants it, declaring it was “perfect like the letter was perfect. The transcription was perfect. This was not as perfect as that, but pretty good.”Trump was referring to the rough transcript of his July call with Ukraine’s president, which prompted a whistleblower complaint that led to his impeachment. Trump, who was acquitted by the Senate last month, has insisted he did nothing wrong.Trump said his trip to the CDC had been canceled earlier over concern about a possible infection there, but that person tested negative. The visit was rescheduled for Friday afternoon.“Be calm. It will go away,” Trump told reporters earlier at the White House after signing a $8.3 billion coronavirus response funding bill at the White House.“We have very low numbers compared to major countries throughout the world. Our numbers are lower than just about anybody,” Trump said about cases of the virus, which have rocked financial markets, interrupted travel and threaten to affect everyday life in the United States.But his messaging was more haphazard at the Atlanta-based CDC. Despite calling this week for bipartisanship during the crisis, he said he told Vice President Mike Pence not to be complimentary during his Thursday meeting with Gov. Jay Inslee of Washington, where more than a dozen people have died, because “he is a snake.”“Let me just tell you we have a lot of problems with the governor and, that’s where you have many of your problems, OK?” Trump said. “So Mike may be happy with him but I’m not, OK?”So far, 14 people have died in the United States. Trump downplayed concern that the country was not ready to respond to an outbreak.Trump also said he talked on the phone with California Gov. Gavin Newsom about the 3,500 people stuck on a cruise ship anchored off the coast of California. Trump, at the CDC, advocated for the passengers to remain on the ship — in part so they would not count against the total number of victims in the United States. He did say he would defer to the medical experts.The legislation Trump signed at the White House provides federal public health agencies with money for vaccines, tests and potential treatments and helps state and local governments prepare and respond to the threat.“It’s an unforeseen problem,” Trump said about the virus. “It came out of nowhere. We’re taking care of it.”The Senate passed the $8.3 billion measure Thursday to help tackle the outbreak in hopes of reassuring a fearful public and accelerating the government’s response to the virus. The money will pay for a multifaceted attack on a virus that is spreading more widely every day, sending financial markets spiraling again Thursday, disrupting travel and potentially threatening the U.S. economy’s decade-long expansion.The plan would more than triple the $2.5 billion amount outlined by the White House 10 days ago. The Trump proposal was immediately discarded by members of Congress from both parties. Instead, the bipartisan leadership of the House and Senate Appropriations committees negotiated the increased figure and other provisions of the legislation in a burst of bipartisan cooperation that’s common on the panel but increasingly rare elsewhere in Washington.The president, while touring the CDC, also boasted about his ability to understand the virus, even though he has repeatedly misstated how long it would take for a vaccine to be developed and available.“You know my Uncle was a great — he was at MIT. He taught at MIT for a record number of years. He was a great super genius, Dr. John Trump,” the president said. “I like this stuff. I really get it. People are surprised that I understand it. … Maybe I have a natural ability.”Trump visited the CDC after touring tornado damage in Tennessee. He was to spend the weekend at his resort in Palm Beach, Florida. ‘It’s Fractured’: Georgia Lt. Gov. Geoff Duncan On Healing Republican Partylast_img read more

History of northeast Johnson County will come to life with interpretive signs along Indian Creek Trail

first_imgHenry Fortunato doing what he does often – walking. Photo courtesy of Ann Dean Photo.Henry Fortunato walks.He walks miles each day. He has walked across Kansas.Now he wants to give others the chance not only to exercise their bodies while walking, but to exercise their minds as well, and get a sense of the history of Johnson County. On June 4, National Trails Day, Fortunato will unveil four sets of new outdoor exhibit panels featuring original historical narratives about the derivation of the names of the streets that cross or intersect with the Indian Creek Trail as it runs through Overland Park.[pullquote]Indian Creek Interpretive Signage ProjectUnveiling 9 a.m. to noon June 4Roe Park 10400 Roe Ave.[/pullquote]Two of the first four panels feature stories that are specific to northeast Johnson County. One tells the history of the Roe family – a name embedded in NEJC – and another the history of the Shawnee Indian Mission.The four panels, which will be shown at Roe Park, 10400 Roe Ave., are the first four of a contemplated 15 to 20 new exhibit panels. The project brings together history, hiking and health and wellness, Fortunato said. The panels are developed by Fortunato’s Sunflower Republic LLC working with the Johnson County Museum.Many people will know Fortunato as the former public affairs director of the Kansas City Library who brought an intense and rich programming schedule to the library. Before his nine years at the library, he already had immersed himself in a major history project, developing the history of the University of Kansas – a project still accessible.Fortunato grew up on New York’s Long Island, went to Georgetown University and worked as a magazine editor in Washington, D.C. before a corporate communications job brought him to Kansas. After leaving that job, he began walking every morning on the Indian Creek Trail near his home, thinking about what he would do next at age 42. “The light bulb went on,” Fortunato said, and he headed to KU for a master’s in American history. “I got hooked on Kansas as a really interesting place. I fell in love with Kansas.”“I have this vision of Kansas being a place where people can go for great walks,” Fortunato said.The June 4 event begins at 9 a.m. with refreshments and remarks at the park where the panels will be on display. Historian Bill Worley will portray the Rev. Thomas Johnson, the founder of the Shawnee Indian Mission and the namesake of Johnson County. The event includes two guided three-mile loop walks along the Indian Creek Trail starting at 10 a.m.The Indian Creek Trail Interpretive Signage Project is intended to enhance the trail experience by providing engaging commentary illustrated with old photographs and other archival images to examine the history of Johnson County.“The Indian Creek Trail,” Fortunato said, “is about to be transformed from a walk through Anywhere, USA into a hike through history.”The panel on the Roes.The Mission and Roe panels will be two of the four displayed on June 4.last_img read more

‘Business as usual’, claims MoJ on first day of action

first_imgThe Ministry of Justice has said that courts ‘sat as usual’ today, the first day of a national protest against legal aid fee cuts. However lawyers reported delays and defendants being left unrepresented at courts across England and Wales.As the first day of direct action draws to a close, a spokesman for the MoJ described that the impact of today’s action as ‘negligible’. A statement timed at 5.23pm said: ‘Over 95% of cases at a police station requiring a solicitor have been picked up within an hour – little different to any other day.’ However the Gazette has received numerous accounts of problems at both police stations and magistrates’ courts.Zoe Gascoyne, chair of the Liverpool Law Society criminal practice committee, said: ‘We have been aware there have been a number of problems at a number of police stations across the country. The duty solicitor scheme has struggled to cope with the number of cases coming through without own solicitors being in place. This is indicative of how things would be under two-tier [legal aid contracts].’‘Both the Defence Solicitor Call Centre and police themselves have spent a significant amount of time ringing around trying to obtain cover,’ she added.Mike Gray, a partner at Gray and Co and a member of the Criminal Law Solicitors’ Association (CLSA), said that a rape case in Chester was passed around 17 solicitors before the case was finally accepted.He said that the court in Chester was extremely busy, with ‘irate clients’ in the court corridors. ‘Everything was moving particularly slowly,’ he said.Meanwhile in West Kent, police at one stage had to ring round solicitors asking if they would act privately for a detainee. ‘This was a person who had no money with him, no way of meeting the cost and therefore one has to worry about the police action in suggesting the person would or could meet the cost of private representation,’ Dennis Clarke, a CLSA committee member, said.Clarke suggested that the impact of the action on crown courts will start on Friday, as murder cases have to be listed within 48 hours of commital by magistrates. ‘It is therefore correct to say the impact is incremental,’ he said.In Colchester, the youth court was not able to start its business until 11.30am, with young people left ‘waiting and bewildered outside’, according to Laura Austin, a partner at Levy & Co Solicitors.And in Northumbria, David Forrester, a solicitor at Geoffrey Forrester & Co who was on duty today reported that two defendants had been sent to the Crown court without representation.last_img read more

Japan’s Takuma Sato wins Indianapolis 500

first_img Related Chris Graythen/Getty Images(INDIANAPOLIS) — Japan’s Takuma Sato has won the 101st running of the Indianapolis 500.Driving for Andretti Autosport, Sato, 40, held off three-time Indy 500 winner Helio Castroneves of Brazil by 0.2011 of a second, with Ed Jones coming in third.The win marked the ex-Formula One driver’s second victory in IndyCar racing– five years after he crashed on the final lap of the race trying to defeat Scotland’s Dario Franchitti.After celebrating the win by dumping a bottle of 2 percent milk on his head, Sato said it was a “fantastic race.”“It’s beautiful, you know…I grabbed something I left over in 2012 and thanks everyone I can’t thank you enough for everyone’s support.”Copyright © 2017, ABC Radio. All rights reserved.Powered by WPeMaticolast_img read more

Espanyol confirm interest in Jese Rodriguez and Jose Antonio Reyes

first_imgEspanyol CEO Ramon Robert has confirmed the club’s interest in signing Jese Rodriguez from Real Madrid.  However, he is hopeful that Espanyol will be able to take a leap forward next season as they look to build an ambitious project under their new Chinese owners.  Upd. at 20:07 He added: “We haven’t set an exact budget for transfers.  20/06/2016 Robert confirmed the club “would love to have him back” but was unable to offer guarantees.  “[Reyes] is on our list,” Robert added, before saying that there are also several other potential targets.  Marco Asensio, who spent last season on loan at Cornella-El Prat, is also wanted back, although much will depend on Real Madrid’s plans for the midfielder.  Seveal other players names also came up, including Jose Antonio Reyes, whose contract at Sevilla is about to expire. center_img CEST Robert revealed there is interest, although he played down suggestions the deal is at an advanced stage.  “We’re looking at many opportunities, some require purchasing, while others are free. J.C Garcia, Sport EN SPORT revealed last week that the club are confident of landing the forward on loan after positive talks between the player and Quique Sanchez Flores.  “He is an option,” he admitted. “I don’t know if he’ll be an Espanyol player, but he’s not about to join yet. It would be a pleasure to have him.” “We know what squad we want for next season in order to make the jump. If there’s a good chance [of signing a target] then won’t let it escape.”last_img read more

Chance of showers or flurries this Halloween

first_imgFORT ST. JOHN, B.C. — Meteorologists with The Weather Network are calling for a fairly decent weekend ahead of Halloween, but that trick-or-treaters may have to bundle up next Tuesday.Meteorologist Dayna Vettese said that the forecast for the Fort St. John and surrounding area is calling for a decent weekend, with no precipitation expected. She said that area residents heading out to Halloween parties this weekend will likely need a sweater getting to and from any events.On Tuesday, Vettese said daytime highs will be hovering around the 5 degree area, and will dropping to around the freezing mark by the time trick-or-treaters begin making the rounds. She added that there is a chance of an isolated shower or flurry during the later hours of the evening.- Advertisement -Looking further ahead Vettese said that the weather pattern is expected to change, with a big drop in temperatures during the first week of November. She explained that a mass of cold air is expected to move down from the Arctic, extending from Northern B.C. through to southern Manitoba. That cold air will bring daytime highs closer to -5 degrees, with colder temperatures at night and a risk of more flurries.Vettese added that this weekend will likely be the last chance of above freezing temperatures for at least the next few weeks.last_img read more

10 Mobile BI Strategy Questions: Business Processes

first_imgWhen developing a mobile business intelligence (BI) strategy, you can’t ignore the role that business processes may play. In many cases, the introduction of BI content into the portfolio of mobile BI assets provides opportunities to not only eliminate the gaps in your business operations, but to improve the existing processes.Often, the impact is seen in two main ways. First, the current business processes may require you to change your mobile BI approach. Second, the mobile BI solution may highlight gaps that may require a redesign of your business processes to improve your mobile BI assets and your business operations.Business Processes Will Influence Your Mobile BI DesignExisting business processes will have a direct impact on the design of your mobile BI solution. I’m often amazed to discover that the lack of consideration given to identifying business processes stems not from a lack of insight but from wrong assumptions that are made during the requirements and design phases.It’s true that the business processes may not be impacted if the scope of your mobile BI engagement is limited to mobilizing an existing BI asset (like a report or dashboard) without making any changes to the original end-product, including all underlying logic. But in many cases, the opposite is true—the mobile BI end product may be the driver for change, including the update of the existing BI asset as a result of a mobile BI design.Mobile solutions may require different assumptions in many aspects of their design, which range from source data updates to report layout and logic. Advanced capabilities, such as a write-back option, will further complicate things because the integration systems outside the BI platform will require closer scrutiny and a much closer alignment with business processes.Moreover, constraints that surround source data will have a direct influence on the mobile BI design. For example, if you’re dependent on feeds from external data sources, you may need to consider an additional buffer to take into account possible delays or errors in the data feed. Or, perhaps you have a new application that was just built to collect manually-entered data from field operations. If this new application was introduced as part of your mobile BI solution, the process that governs this data collection system will have a direct impact on your design because of its immediate availability. This wouldn’t have been as important before as an operational tool with a limited audience without mobile BI.Mobile BI Solution May Drive Improvements in Your Business OperationsAs part of designing your strategy or developing your mobile BI solution, you may discover either gaps or areas for improvement. Don’t worry. This is a known side effect, and it’s often considered a welcome gift because it gives you a chance to kill two birds with one stone: improve your business operations and increase the value of your mobile BI solution. However, it’s critical here to ensure that your team stays focused on the end goal of delivering on time and on schedule (unless the gaps turn out to be major showstoppers).Typical examples are found in the areas of data quality and business rules. The design of a mobile BI asset—especially if it’s new—may highlight new or known data-quality issues. The visibility factor may be different with mobile. Adoption or visibility by executives often may force additional scrutiny. Moreover, adoption rates (ratio of actual users divided by total users of mobile solutions) may be higher because of the availability and convenience with mobile. As a result, mobile users may be less tolerant about the lack of quality assurance (QA) steps.Business rules offer another example due to the same visibility factor. A proposed change in a business rule or process, which previously failed to get attention due to lack of support, may now have more backers when it’s associated with a mobile BI solution. Strong executive sponsorship may influence the outcome.Bottom Line: Do Not Ignore Business ProcessesIt’s easy to make the wrong assumptions when it comes to business processes. It happens not just in mobile BI but in other technology projects. You cannot take existing processes for granted. What may have worked before may not work for mobile BI. Let your business processes complement your overall mobile BI strategy, and let your mobile BI engagement become a conduit for opportunities to improve your operational efficiencies.Not only will these opportunities improve your business operations, but they will lead to increased adoption by increasing the trust your customers/users have in your mobile BI content.What do you see as the biggest challenge when it comes to business processes in your mobile BI strategy?Stay tuned for my next blog in the Mobile BI Strategy seriesConnect with me on Twitter at @KaanTurnaliOpens in a new window and LinkedInOpens in a new window.This story originally appeared on the SAP Analytics BlogOpens in a new window.last_img read more

ACC might be revived, says BCCI chief Dalmiya

first_imgQuite like the teasers that are these days released before the actual films, BCCI president Jagmohan Dalmiya said on Thursday that the Asian Cricket Council (ACC) might be “revived”, just two days after the body’s last AGM.The ACC – launched more than 31 years ago in the presence of Dalmiya in New Delhi – formally folds up, but its development manager/officers will continue to work from the ICC headquarters in Dubai. When asked about his memories, Dalmiya, 75, said although he has “sweet memories” of his association with the ACC, he does not completely rule out the revival of the body. Looking at his track record, Dalmiya’s words can be brushed aside. “I have sweet memories of the ACC. I will cherish them,” Dalmiya told MAIL TODAY. “As far as the future is concerned, who knows we might ‘revive’ the memories.” Asked if by reviving the memories he actually meant reviving the ACC, Dalmiya said: “It may be revived, who knows. But [it remains to be seen] which way it may come [back], which shape it might take.One can only say that we will have to wait and see for another one year, two years or four years…who knows.” It is not far to seek the probable reasons for Dalmiya’s optimism. It was ICC chairman N. Srinivasan, a former ACC president and till now chairman of its finance and marketing committee, who apparently wanted the ACC to merge with the ICC. His ICC tenure ends in June/July 2016.advertisement But new BCCI secretary Anurag Thakur has said that the Board would review his continuation as India’s nominee for the ICC at the AGM in September.  If the BCCI replaces Srinivasan, the new BCCI nominee might have a different take on the Asian body, and as Dalmiya said, it could well be revived. Outgoing ACC CEO Syed Ashraful Huq outlined another negative side of folding up the continental body – its incomplete ‘Project China’. “My only regret is that I could not see through the China project. I thought China had the potential [to make it big], if we had stuck to it, we could get a great cricketing nation. But the people in power did not want it to be encouraged,” Huq told MAIL TODAY. Asked about the person, Huq said: “Mr. Srinivasan didn’t like encouraging China, it seems. He was the ACC president [201214]…he didn’t really encourage.Even before that [as ACC’s finance committee chairman in 2011] he didn’t see any purpose of us going so much ahead in China. [He said] it was not worth it.” Srinivasan remained finance committee chairman till ACC’s very end. Huq said the funding as well as assistance by way of sending coaches/equipment to China has been much reduced. Huq pointed out that ex-ICC president Sharad Pawar and its principal advisor I.S. Bindra supported the China and USA projects. “Mr. Bindra was very impressed with the progress and the work we had done,” he said, particularly praising Chinese women’s team for making rapid progress. “We had gone full steam ahead at that time, but then things changed.”last_img read more

AIFF must play bigger role for Indian football’s progress, says Sourav Ganguly

first_imgFormer India captain and Atletico de Kolkata (ATK) co-owner Sourav Ganguly said on Wednesday that the All India Football Federation (AIFF) has to play a bigger role in taking the game forward in the country.Though the Indian Super League (ISL) took the country by storm in its first season, the national team (ranked 141) went down 1-2 against Guam, ranked 33 places below them in the rankings, in their 2018 World Cup qualifying round group match last month.”Success of any sport nationally, internationally depends on infrastructure of the entire system, ISL is for two months and it is slowly improving the infrastructure but I believe that the AIFF has to play a bigger role if football in India has to go forward,” Ganguly told reporters here after unveiling ATK’s jersey for the second season.The former left-hand batsman, who incidentally also has his birthday on Wednesday, was greeted with the “Happy Birthday” song upon his arrival.”ISL needs AIFF’s support, it cannot be the other way round. Like in cricket the BCCI supports the IPL and BCCI is the body which runs cricket in India and sees the domestic structure too,” he said.Ganguly also believes the standard of football in the country has not improved at all in the last few years.”I think the AIFF has to play an important role, the time here is very difficult, ISL has just happened but the overall standard has not improved for the last few years but we have to try and build infrastructure,” he said.advertisementGanguly added the league provides a great platform for the players.”ISL only started last year and it is a great platform for the Indian players and us to be a part of it,” he said.The 43-year-old also welcomed the transformation from artificial turf to natural grass at the Salt Lake stadium stating it will be an advantage for ATK, who will play their home matches there. ATK will conduct their pre-season training at the newly-laid ground in August, he said.”It will be an advantage, we had a lot of injuries last year so I believe it will be easier to play on it this time,” he said.last_img read more