08/30/2011 (6:44 am)

New storm that could become hurricane looms

Filed under: mortgage, news |

A tropical depression far out in the Atlantic is forecast to become a hurricane this week, but it’s too early to know if it’ll strike the U.S. or anywhere else.

The new depression is forecast to become Tropical Storm Katia _ the name that replaced Katrina in the rotating storm roster because of the catastrophic damage from the 2005 storm. That could come early Tuesday.

The U.S. National Hurricane Center in Miami said Monday the depression south of the Cape Verde Islands could reach hurricane strength Thursday, still far out in the Atlantic.

Hurricane Center spokesman Dennis Feltgen said it’s too early to know if it would hit the U.S.

Source

08/27/2011 (1:48 am)

Higher mall rents come with higher sales

Filed under: market, mortgage |

U.S. retailers who come to Canada face higher rents, a tighter market, and higher real estate taxes than they do in their home market, according to industry experts.

That

08/23/2011 (8:56 pm)

Olive: How likely is a double dip?

Filed under: mortgage, term |

Nervous Nellies on Bay and Wall Streets pulled back a bit yesterday from their panic selling of recent weeks, which has seen the S&P/TSX Composite Index drop a total of 15.5 per cent in Canada from its previous peak, in March; and the benchmark Dow Jones Industrial Average fall a similar 15.2 per cent from its most recent peak, in May.

But don

08/17/2011 (8:16 am)

Quebec government gives asbestos investors more time to get loan lined up

Filed under: marketing, mortgage |

QUEBEC

07/27/2011 (4:20 am)

Strike expands at Chile’s Escondida copper mine

Filed under: legal, mortgage |

Union members broke off negotiations Tuesday at the world’s most productive copper mine, threatening to extend their five-day strike indefinitely and warning that thousands of other Chilean copper workers may soon walk off the job as well.

Union leader Marcelo Tapia told The Associated Press that the Escondida mine’s 2,300 striking workers will be joined Wednesday by 7,000 contractors, and that union workers at Chile’s state-owned Codelco mining company are in consultations about whether to join them on Thursday.

The main issue is a monthly production bonus: The company, majority-owned by Australian mining company BHP Billiton Ltd., is prepared to pay bonuses that would total $6,000 per worker by year’s end, and declined on Tuesday to discuss an increase. The union is holding out for $10,800 per worker, Tapia said.

Shares in BHP Billiton Ltd were trading up about 1 percent at $94.83 after dropping earlier Tuesday on the strike news. Globally, prices for copper and other metals have been buoyed by fears that the dollar and euro will fall due to the U.S. debt crisis and European economic woes. Prices of copper for September delivery rose 1.6 percent Tuesday to $4.48 a pound.

Already, the strike has cost the company 15,000 tons of lost production, at an estimated cost of $150 million, the company has said.

Escondida represents the biggest single foreign investment in Chile, with BHP owning a 57 percent share. Other major investors include Rio Tinto, Mitsubishi Corp. and International Finance Corp. Each day, the mine has produced about 3,000 tons of copper, worth about $30 million. In all, the mine produces 1.1 million tons of refined copper annually. At one point, its production totaled about 8 percent of the world’s copper supply, although that has declined slightly.

The amount the union wants in bonuses represents less than a penny of each dollar in annual earnings, 0.58 percent.

The situation deteriorated Tuesday when 7,000 subcontractors announced they will join the strike, adding their own demands, including a bonus equivalent to 30 percent of the amount regular employees will get, said Jorge Marin, president of Escondida’s Contract Worker Federation.

The union plans to go to court Wednesday, alleging anti-union actions by the company, Tapia said.

The union also wants protections for workers who contract serious illnesses on the job, only to lose their private health care on retirement. They say company surveillance cameras violate their privacy rights, but they want to punch clocks that better control their 12-hour work days. Miners are frequently working up to 14 hours a day but don’t get their overtime, Tapia alleged.

Tapia challenged company claims that bonuses are down due to lowered production, saying that it costs Escondida 90 cents a pound to produce the metal now selling at about $4.40 globally.

Escondida’s last major strike, in 2009, turned out well for the workers, who got bonuses and easy credit worth $37,000 each.

As with other mines in Chile, Escondida’s production has been falling as the best veins in established operations get tapped out. But BHP Billiton recently announced a major new find of 19 million tons of copper reserves. The discovery, which took four years of exploration at a cost of $381 million, means the company will be able to challenge Codelco’s status as the world’s biggest copper producer.

Chile’s copper strikes are helping to keep prices for the commodity near all-time highs, although other factors such as the falling U.S. dollar have done more recently to drive up short-term prices, metals analyst Shayne Heffernan of Heffernan Capital Management. He said this could change should strikes expand in Chile as well as South Africa and Indonesia.

“Given the number of strikes and the speed at which they are spreading, the loss of global production is now starting to mount. Should we see another month of this activity it may raise the annual shortfall this year to over 850,000 tons and copper trading at over $6 a pound,” Heffernan said. “Demand for copper is making it a more attractive inflation hedge than gold.”

Source

07/12/2011 (3:40 pm)

Israeli groups to challenge boycott law in court

Filed under: houses, mortgage |

A coalition of Israeli human rights groups said Tuesday it would ask the country’s Supreme Court to overturn a new law that bans boycotting Jewish West Bank settlements _ legislation critics see as the government’s latest attempt to muzzle dissent.

A spokeswoman for the rights groups, Tamara Traubmann, said the groups would submit their petition to the high court within the coming week.

The organizations have already written a letter of protest to Israeli authorities emphasizing that “irrespective of their own positions regarding the tactic of boycott, outlawing it severely restricts freedom of expression by targeting non-violent public expressions of opposition to Israeli policies,” they said in a statement.

The law was approved on Monday even after parliament’s legal adviser, Eyal Inon, warned that it would violate freedom of expression and was either borderline illegal, if not flatly so.

The contentious legislation was a top news story in Israel, reflecting the fierce debate polarizing a country split between those who champion Israeli dominion over the war-won West Bank for either religious or security reasons and those who advocate a large-scale withdrawal from the territory in exchange for peace with the Palestinians 100% free credit score.

It also reflects a backlash among members of the hardline coalition against people and groups who they see as attempting to delegitimize Israel.

The new law lets settlers or settlement-based businesses sue Israelis who promote settlement boycotts. Courts would determine whether a boycott caused direct damage and if so, assess damages.

The law was approved Monday by Prime Minister Benjamin Netanyahu’s hard-line coalition. But Netanyahu and several other leading members of his Cabinet were not present for the vote. A spokesman, Mark Regev, had no immediate explanation for the Israeli leader’s absence.

Source

06/16/2011 (6:20 am)

Ehlmann blocks smoking ban from going to voters in St. Charles County

Filed under: mortgage, usa |

ST. CHARLES COUNTY

06/06/2011 (4:24 am)

NATO jets target Libyan military barracks

Filed under: mortgage, term |

British jets hit a military barracks in the Libyan capital early Sunday, intensifying NATO pressure on Libyan leader Moammar Gadhafi nearly four months into an uprising to end his erratic 42-year rule.

The airstrikes on the barracks _ repeated targets of NATO strikes _ followed the Western alliance’s first use of attack helicopters Saturday.

By intensifying attacks from the air and using helicopters to target government forces who melt into the civilian population for cover, NATO is providing a major boost to Libyan rebel forces who have seized much of the country’s east and toeholds in the west.

Emboldened rebels in recent days have forced government troops from three western towns and broke the siege of a fourth.

A government official, speaking on condition of anonymity because he was not authorized to speak to reporters, said the Sunday strikes caused no casualties because the barracks were abandoned after having come under repeated NATO attack.

A NATO official, however, said Royal Air Force Tornados fired eight missiles into a surface-to-air missile depot in Tripoli. The early Sunday attacks also hit military sites in the town of Tajoura, west of Tripoli.

Saturday’s strikes by French and British helicopters targeted Libyan troops hiding in populated areas, as well as military vehicles and equipment _ targets often unavailable to higher-flying jet fighters.

Lt. Gen. Charles Bouchard, commander of the Libya operation, said the engagement “demonstrates the unique capabilities brought to bear by attack helicopters.”

Until Saturday, NATO had relied aircraft that typically fly above 15,000 feet (4,500 meters) _ nearly three miles (five kilometers). The jets primarily strike government targets but there have been cases when they missed and hit opposition forces by mistake.

The helicopters give the alliance a key advantage in close combat, flying at much lower altitudes high quality business cards.

At a regional security conference Sunday in Singapore, Russian Deputy Foreign Minister Sergei Ivanov said NATO is “one step” from the start of ground operations in Libya.

Russia abstained from a United Nations Security Council resolution vote in March to impose a no-fly zone over Libya. Ivanov said there has been disagreement over how to interpret the scope of the resolution.

In the Saturday attacks, British Apaches hit two targets near the eastern oil town of Brega, according British Maj. Gen. Nick Pope, and separate Royal Air Force planes destroyed another military installation near Brega and two ammunition bunkers at the large Waddan depot in central Libya.

French Gazelle and Tiger helicopters struck 15 military vehicles and five military command buildings, said Col. Thierry Burkhard. All the helicopters returned safely, the French and British said.

Brega is of strategic importance to Libya’s oil industry and lies on the Mediterranean coastal road to the capital.

In the early days of the uprising against Gadhafi, Brega shifted between rebel and loyalist hands, but later the front line settled to the east of the town and under government control.

Gadhafi’s regime has been slowly crumbling from within. A significant number of officers and several Cabinet ministers have defected, and most have expressed support for the opposition. But Gadhafi shows no signs of leaving power.

Gadhafi has been seen in public rarely and heard even less frequently since a NATO airstrike on his compound killed one of his sons on April 30. That has led to speculation about the physical and mental condition of the 69-year-old dictator, who has ruled Libya since 1969.

Source

05/09/2011 (1:32 pm)

Pakistan: Taliban fighters hold bin Laden memorial

Filed under: Australia, mortgage |

An intelligence official and local tribal chief say several hundred Taliban fighters held a memorial service for Osama bin Laden in Pakistan’s tribal region.

They say the mourners hailed the slain al-Qaida chief and shouted slogans against America and Pakistan. The service took place Monday in Wana, the main town in South Waziristan.

South Waziristan was the Pakistani Taliban’s main sanctuary before the army launched an offensive in 2009.

The intelligence official and local tribal chief Ghanam Shah Wazir say the army allowed the service to occur because it was led by Maulvi Nazir, a Taliban commander who is believed to have a peace deal with the government.

The intelligence official spoke on condition of anonymity in line with agency policy.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

ISLAMABAD (AP) _ Pakistani media have reported a name they allege is that of the CIA station chief in Islamabad _ the second such potential outing of a sensitive covert operative in six months, and one that comes with tensions running high over the U.S. raid in Pakistan that killed Al-Qaida chief Osama bin Laden.

The Associated Press has learned that the name being reported is incorrect. Nonetheless, the airing of any alleged identity of the U.S. spy agency’s top official in this country could be pushback from Pakistan’s powerful military and intelligence establishment, which was humiliated over the surprise raid on its soil, and could further sour relations between Washington and Islamabad.

On Friday, the private TV channel ARY broadcast what it said was the current station chief’s name. The Nation, a right-wing newspaper, picked up the story Saturday.

ARY’s news director, Mazhar Abbas, said the television station’s reporter gleaned the name from a source. He defended the broadcast, saying it was “based on fact,” and denounced allegations that the name was leaked to the television channel by an official with an agenda.

“The prime responsibility of the reporter is to give a story which is based on facts,” he said. “Interpretation of the story is something else.”

A spokesman for Pakistani intelligence declined to comment. The U.S. Embassy also declined immediate comment Monday. The AP is not publishing the station chief’s name because he is undercover and his identity is classified. It was not immediately clear whether the Americans would pull him out of the country.

Asad Munir, a former intelligence chief with responsibility for Pakistan’s militant-riddled tribal areas, said very few people know the name of the CIA station chief in Islamabad. But he said that releasing it would not necessarily jeopardize the station chief’s safety.

“Normally people in intelligence have cover names,” Munir said. “Only if there is a photograph to identify him could it put his life in danger.”

In December, the CIA pulled its then-station chief out of Pakistan after a name alleged to be his surfaced in public and his safety was deemed at risk. That name hit the local presses after it was mentioned by a lawyer who planned a lawsuit on behalf of victims of U.S. drone strikes in Pakistan’s tribal belt.

Suspicions have lingered that that outing was orchestrated by Pakistan’s Inter-Services Intelligence agency to avenge an American lawsuit that named its chief over the 2008 terror attacks on the Indian city of Mumbai. The Pakistani agency denied leaking the CIA operative’s name.

The raid on bin Laden’s compound was an extraordinary blow to what was already a badly faltering relationship in recent months.

Before dawn on May 2, Navy SEALS ferried in high-tech helicopters raided a house in the garrison city of Abbottabad, Pakistan, where bin Laden had been living for up to six years, killing him and at least four others. The terrorist leader’s body was quickly buried at sea. A wealth of information _ ranging from computer thumb drives to videotapes _ was seized from the house.

Bin Laden’s location raised suspicions that he had help from some Pakistani authorities, possibly elements of the powerful army and intelligence services. Pakistan’s armed forces have historical _ some say ongoing _ links with Islamist militants, which they used as proxies in Afghanistan and India.

Islamabad says it was wholly unaware of the impending Navy SEAL attack on the compound, and U.S. officials have backed up that claim. Pakistani authorities also insist they did not know bin Laden was in Abbottabad, and U.S. officials so far have said they see no evidence that anyone in the upper echelons of Pakistan’s military and intelligence establishment were complicit in hiding the terrorist leader.

But in the days since, Pakistan has lashed out at what it has called a violation of its sovereignty and warned the United States against any such future unilateral strikes on its territory. Pakistani Prime Minister Yousuf Raza Gilani was due to speak to parliament on the subject later Monday and expected to hit those same themes.

Ahead of his address, Gilani’s office released a brief statement in which the prime minister is quoted as saying that the Pakistan’s government’s policies have helped maintain law and order and control terrorist activities in the country.

Survivors of the raid, including children, are in Pakistani custody. The U.S. says it wants access to bin Laden’s three widows and any intelligence material its commandos left behind at the al-Qaida leader’s compound.

Suspicions of Pakistani collusion with militants pose an acute problem for the Obama administration because few can see any alternative but to continue engaging the Muslim-majority country. Unstable and nuclear-armed, it remains integral to the fight against al-Qaida as well as to American hopes for beginning to draw down troops in Afghanistan later this year.

Source

03/23/2011 (12:56 am)

Police move on Greenpeace activists blocking Darlington nuclear hearings

Filed under: houses, mortgage |

Greenpeace demonstrators have brought hearings into new nuclear reactors to a halt.

Around 9 a.m., demonstrations began by nine protesters, four of whom chained themselves to a table at the front of the room in a church in Courtice where a panel is hearing safety and environmental issues on the proposed new reactors.

Shortly after 11 a.m., a police officer and hearing officials asked the four chained protesters if they would move to the back of the room.

If they didn’t move, the officer said,

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