<div class=Disease outbreak feared after mass hysteria over “sweet” water in Mumbai
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Disease outbreak feared after mass hysteria over “sweet” water in Mumbai

Wednesday, August 23, 2006

“18 hours of mass hysteria” (according to the Sunday Times of India) broke out last Friday in Mumbai as hundreds of residents flocked to Mahim Creek, one of the most polluted creeks in India that receives thousands of tonnes of raw sewage and industrial waste every day after reports that the salt water had suddenly turned “sweet”.

Television reports showed people drinking water on the spot with their hands, and others bathing, apparently to wash away their sins with the “holy” water.

At the height of the hysteria, bottled mineral water was selling for Rs 50 (RM4.50), with people buying the mineral water simply for the bottles, pouring away the mineral water and filling the bottles with water from the creek.

News reports of the Mahim Creek incident sparked further mass hysteria at Gujarat within hours, with residents there claiming that seawater at Teethal beach in Valsad had also turned sweet. About 400 people had gathered by the beach in the evening.

In the aftermath of the incident, local authorities stated that they were being were extra vigilant because of the possibility of a severe outbreak of water-borne diseases, such as gastroenteritis as a result of so many people drinking contaminated water. The Maharashtra Pollution Control Board had warned people not to drink the water, but despite this many people had collected it in bottles, even as plastic and rubbish had drifted by on the current. The Municipal Corporation of Greater Mumbai had ordered a bacteriological report into the “sweet” water, but suspected that “contamination in the water might have been reduced due to the waters from Mithi River flowing into the mouth of Mahim Bay“.

By Saturday morning, the hysteria had died down, as the taste of the water had returned to normal.

Posted in Uncategorized
<div class=Austrian police find dozens dead inside lorry
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Austrian police find dozens dead inside lorry

Thursday, August 27, 2015

Austrian police today found an estimated 20–50 decomposing corpses in an apparently abandoned lorry.

Roadworkers who spotted the vehicle, which had been there since yesterday at least, alerted police. Responding officers found it full of corpses. The lorry is on the so-called “Eastern Motorway”, the A4, close to the Hungarian border. It was on the hard shoulder between Neusiedl and Parndorf, closer to Parndorf.

The victims are thought to have suffocated. Police are seeking the driver. The Krone published an image of a non-articulated food lorry on the hard shoulder, which they report is the vehicle in question. The photo shows a pool of dark liquid on the ground beside the vehicle.

Video from a passing motorist shows at least one helicopter on-scene. The truck, which has pictures of meat on the side, shows branding for Slovakian food firm Hyza. Earlier today the company’s website sported an apparent anti-immigration graphic, which has since been removed.

Wikinews got in touch with Hyza. “We are truly sorry about [the] tragedy” they told us in a statement. They said they have checked GPS trackers on their fleet and all their vehicles remain in Slovakia. The statement says the lorry in question was one of 21 Hyza vehicles sold on last year. It was then sold again and exported to Hungary, where it is now registered. Hyza told us the new owners have not changed the branding on the vehicle. According to the Bild newspaper, Agrofert — the parent company of Hyza — said in a statement the new owners were required to do so.

Hyza says they will “actively cooperate with Slovak police”, and “express [their] sincere condolences to the bereaved families.”

Interior Minister Johanna Mikl-Leitner called it “a dark day” and called for European Union-wide measures to protect immigrant refugees and tackle human traffickers. Neighbouring Hungary is constructing a border fence across its entire frontier with Serbia. Yesterday alone saw a record 3,241 attempts to enter Hungary illegally, according to authorities there.

Conflict in Syria and other parts of the world has led refugees to Europe. Once inside, they can move freely inside the Schengen Area, which covers most of the EU.

Austrian police earlier this week arrested three motorists suspected of people smuggling. One driver is accused of moving 34 people, ten of them children, into Austria from Serbia. The group were left by the roadside near Bruck an der Leitha and reported struggling to breathe in the van.

Posted in Uncategorized
<div class=eBay removes Canadian town’s listing of sperm whale carcass
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eBay removes Canadian town’s listing of sperm whale carcass

Thursday, May 8, 2014

Citing violations of its policy regarding “Marine mammal items”, eBay terminated an online listing on Monday by the town of Cape St. George, Newfoundland and Labrador, Canada, for a 40 ft (12 m) sperm whale carcass reportedly beached upon its shores about a week prior.

With an initial asking price of 99 cents, bidding for the carcass reportedly rose to C$238.03 within 15 bids. Reports variously state the final price of the whale, prior to the removal of the listing from the auction site on Monday at about 2:30pm, was C$2,025 or C$2,075. Listed in eBay’s “really weird” category, the carcass was considered by eBay to be an example of “items made from marine mammals regardless of when the product was made”, which are prohibited as per site rules.

Following a council meeting on Sunday in the town of 950 residents, Cape St. George’s mayor, Peter Fenwick, put the whale up on the auction site in a bid to have it removed from the town’s premises, citing a lack of cooperation from provincial and federal government officials on the matter. “It’s your problem, you solve it”, Fenwick recounted to The Globe and Mail (TGaM) as the response he received from them. Apart from eBay, Kijiji was also suggested as another avenue by which to sell the carcass.

Fenwick told CTV News, several years prior another sperm whale measuring 15 ft was beached in the area, but disappeared without incident, an act Fenwick attributed to be the work of Fisheries and Oceans Canada. “This time”, he remarked, “the authorities have told us that it’s our whale, it’s our responsibility to get rid of it.”

On putting the carcass for sale, Fenwick remarked, “We knew we had to do something with it and this seemed to be the least expensive way of disposing of it.” In a news release, Fenwick highlighted a possible use for the carcass, particularly its bones. “The 40 foot sperm whale will make a spectacular exhibit once the fat and muscle is removed, and the town is asking museums and other organizations that could use a whale skeleton to contact the town for further details.”

On retaining the whale himself, Fenwick stated, “As a town we would dearly love to keep the whale and put it on exhibit in the town but the cost of such a venture would be hard to justify.” Fenwick told TGaM the whale was “in half decent shape”. “This one looks like it died very recently and hasn’t decomposed much”, which Fenwick suggested elsewhere was due to the whale’s present location, partially submerged in near-freezing water. However, Fenwick noted its close proximity to a residential area, saying homeowners who lived there were “very interested in seeing the whale gone.”

eBay was not the only organization who barred the sale from taking place. “We also got threatened by the federal department of the environment, and told to pull the ad off or they would prosecute us”, said Fenwick on the opposition he said he received from Environment Canada, which viewed the sale as contravening a federal act designed to protect endangered species. “I received a call from the federal department of the environment saying that you’re not allowed to sell any parts of sperm whales, even if they’re dead.” he added. “So I said, ‘Oh that’s very good, I’m glad to hear that, now can you send somebody over here to get rid of it for us?'” Fenwick’s request was met with a negative response from Environment Canada.

“They’ve got to sort it out somehow. The uncertainty means it just sort of sits there and rots.” Once decomposition sets in, Fenwick remarked the carcass would become a “real nuisance”. “I don’t know if you’ve ever seen a whale that’s been rotting on the beach for a couple of months — actually sometimes you can’t see it for the clouds of flies around it — but you can smell it for about a mile”, he added.

On finding alternate means to dispose of the carcass, Wayne Ledwell, a member of Newfoundland’s Whale Release and Strandings, suggested the whale be towed out to a remote area. “They need to do that right away, when they come in and they’re fresh,” said Ledwell. “No one wants to go touch them … everything becomes gooey and slippery and you can’t stand up on the whale and it gets on your boots and you can’t get the smell off and then you go home and the dog rolls in it and you get it in your kitchen and you curse the whales, and you curse the government and … it becomes a mess.” Fenwick said they’d considered the idea, enlisting a local fisherman who, however, judged his engine too small for the job.

Previously, blue whale carcasses washed ashore in the towns of Trout River and Rocky Harbour, located about 150 km further north, and were taken by Royal Ontario Museum for preservation of the skeletons. Fenwick suggested the sperm whale carcass in his town might also meet a similar fate, as the sperm whale’s status as the largest toothed whale might prove to be a drawing attraction for such a facility.

Regarding what he plans to do next with the carcass, Fenwick said “If we’re not allowed to sell it, we’re willing to drop our 99 cent price down to a zero.” He said he hoped some eBay bidder stays interested in the whale. “We’ll be glad to talk to them about giving them the whale. We’re hoping that’s not illegal.” He also said he hoped the publicity from the town’s predicament, which garnered national attention, and its unusual means of finding a solution, would draw in someone interested in taking the whale off his hands at their own expense.

Should the whale fall under new ownership, Fenwick advised it be moved away from the town to a beach devoid of people, and the blubber left as food for seagulls, insects, and other predators. He estimated “It’ll probably take a year or so to get down to the skeleton.” As monetary gain was reportedly not what the town cared about, Fenwick was willing to offer the carcass for free, though one report noted money raised from the listing could have gone towards the building of a skate park.

The listing on eBay, as put up by Fenwick, read:

This 40 foot sperm whale rolled up on the beach last week. The actual seller is the town of Cape St. George which is responsible for disposing of it before it starts to decay. Once the fat and flesh is removed you have a spectacular 40 foot skeleton of the largest toothed whale in the world, great for museums and other attractions. To prevent it rotting in the town it can be towed to isolated beaches on the Port au Port Peninsula to allow the seagulls and other birds to remove the flesh. Call 709-644-2290 or 709-649-7070 for more details.

Please note the successful bidder will have to remove the whale within 30 days

Posted in Uncategorized
<div class=Cyclone Glenda intensifies to Category 5 storm
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Cyclone Glenda intensifies to Category 5 storm

Wednesday, March 29, 2006

Tropical Cyclone Glenda has intensified overnight. According to the Australian Bureau of Meteorology, Glenda was upgraded from a category 3 to a category 5 storm around 8 p.m WST Tuesday (1200 UTC).

The Bureau of Meteorology predicts Glenda will approach the coast later today. The bureau is also warning about the possibility of gale force winds along the Pilbara coast between Pardoo and Mardie. These winds are predicted to extend west to Exmouth tomorrow.

The bureau is also warning residents of the central and west Pilbara coast that there is a risk of 200 Kilometre per hour (124 miles per hour) winds tomorrow as Glenda nears land.

Posted in Uncategorized
<div class=NYSE to merge with Archipelago; NASDAQ to buy Instinet
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NYSE to merge with Archipelago; NASDAQ to buy Instinet

Sunday, April 24, 2005

New York Stock Exchange (NYSE) announced last Wednesday that it has agreed definitively to merge with Chicago-based Archipelago Exchange (ArcaEx) and form a new publicly traded, for-profit company known as NYSE Group. This announcement was followed two days later by NASDAQ®, which independently announced a definitive agreement to purchase Instinet Group.

Archipelago and Instinet are innovative e-trading (electronic trading) companies, and formerly were the two largest American rivals to NYSE and NASDAQ, in recent years taking increasingly large portions of their market share. The Securities and Exchange Commission (SEC) and other regulatory agencies still have to review and approve the transactions, particularly with respect to US securities law and antitrust law, in order to ensure that the marketplace remains lawful and competitive.

Other pending issues for NASDAQ include obtaining the approval of Instinet shareholders, as well as customary closing conditions. NYSE must obtain the approval of its members and Archipelago shareholders.

These changes, a reaction to increased e-trading competition and a changed regulatory environment, will result in NASDAQ and NYSE trading each other’s shares and attempting to grab market share, which many hope will drive down transaction costs and ultimately benefit consumers. However, at least one commentator, Dan Ackman writing in Forbes, has noted that the trading commission at the NYSE currently averages less than a nickel (US$0.05) per share, and was less enthusiastic about potential efficiency gains from electronic trading at the exchange.

The transactions are also intended to make the two leading American stock exchanges more globally competitive with such exchanges as the London Stock Exchange, the Frankfurt Stock Exchange, the Toronto Stock Exchange, and the Australian Stock Exchange located in Sydney.

Posted in Uncategorized
<div class=Democratic holdout agrees to support health care reform in US
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Democratic holdout agrees to support health care reform in US

Sunday, December 20, 2009

A conservative Democratic United States senator has agreed to supply the key 60th vote needed for passage of a sweeping health care reform package. Senate Democrats have reached a breakthrough in their struggle to pass sweeping heath care reform legislation, lining up the 60 votes needed to overcome fierce Republican opposition. Senators met Saturday in Washington, D.C. during a driving snowstorm in a frenzied effort to move forward on President Barack Obama’s top domestic priority.

The spotlight was on moderate Democratic Senator Ben Nelson of Nebraska, who had been the last holdout as Senate Democrats raced against the clock and against determined Republican opposition to pass their health care bill by their self-imposed deadline of December 25th, Christmas.

Change is never easy, but change is what is necessary in America today and and that is why I intend to vote for cloture, I intend to vote for cloture and for health care reform.

Nelson said he is now ready to vote for cloture, which would advance the bill. “Change is never easy, but change is what is necessary in America today and and that is why I intend to vote for cloture, I intend to vote for cloture and for health care reform,” he said.

Nelson said he decided to support the bill after winning new concessions from Democratic Senate Majority Leader Harry Reid to limit the availability of abortions in insurance sold under the new legislation along with millions of dollars in Medicaid funding for Nebraska.

The legislation would extend health benefits to more than 30 million uninsured Americans and impose new regulations on the health insurance industry.

Senator Reid of Nevada has been working for months to win over one holdout Democratic senator after another, repeatedly altering the bill to satisfy different demands. Reid says reform is essential. “The broken system cannot continue and it will not continue. When President Obama signs this bill into law, we will officially end the era in which insurance companies win only when patients lose,” he said.

The broken system cannot continue and it will not continue. When President Obama signs this bill into law, we will officially end the era in which insurance companies win only when patients lose.

Nelson’s support should pave the way for Senate Democrats to win the first of a series of crucial procedural votes scheduled to begin at one o’clock in the morning on Monday and set to conclude — if everything goes smoothly for them — with final passage on Christmas Eve.

Republicans have been using a number of parliamentary procedures to delay action on the bill, including forcing a reading on the Senate floor Saturday of Reid’s 338-pages of last minute amendments. Republican Senate Minority Leader Mitch McConnell of Kentucky responded to the apparent Democratic breakthrough. “And Democrats are forcing a vote on it, as I indicated, over the weekend, counting on the fact that the American people are preoccupied with Christmas and not paying much attention to what they are doing,” he said.

The history that is being made here, make no mistake about it, the history that is being made here, is the ignoring of the will of the American people.

Republicans are unified in their opposition, saying the bill is too expensive and will not solve the problems with the current health care system. Senator McConnell dismissed claims by Democrats that the bill is historic. “The history that is being made here, make no mistake about it, the history that is being made here, is the ignoring of the will of the American people,” he said.

Senator John McCain of Arizona echoed those comments in the weekly Republican radio address saying, “Regrettably, there’s nothing in this legislation that effectively addresses the problem of health care hyperinflation. In fact, experts tell us the Democrat legislation makes matters worse.”

Democrats say they have been trying to reform the nation’s health care system for close to 70 years, ever since President Franklin Delano Roosevelt was in office. Senator Christopher Dodd of Connecticut was emotional as victory seemed within reach. “All we are trying to do is to guarantee that if you are a fellow citizen of ours, and you are struck with illness or a loved one is, that you will never again have that fear, that you will end up losing your home, your job, your retirement and your life savings because you have been afflicted with an illness through no fault of your own.”

If the Senate is able to pass a bill next week, it would be viewed as a major victory for President Obama. But the bill would still need to be reconciled with a health-care reform bill passed last month by the House of Representatives before the president could sign it into law next year.

Posted in Uncategorized
<div class=Alleged tax-haven scheme linked to Canada’s largest brokerage firm
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Alleged tax-haven scheme linked to Canada’s largest brokerage firm

Wednesday, December 16, 2009

In a continuing crackdown on tax evasion, the Canada Revenue Agency (CRA) has alleged that brokers with a branch of RBC Dominion Securities, Canada’s largest brokerage company, helped clients set up accounts in the small European principality of Liechtenstein in order to avoid taxation on their wealth.

In affadavits submitted by the CRA, brokers with an RBC Dominion Securities office in Victoria, British Columbia, allegedly helped clients set up 16 offshore entities with a division of the LGT Group in Liechtenstein. While that is not a crime under Canadian law, auditors allege that the entities were used to help Canadians hide worldwide income. Thirteen individuals are either being audited or have made voluntary disclosures, admitting to tax evasion. The agency is presently investigating to see if there are any other individuals participating in this scheme. Regarding the inquiry, dubbed “Project Jade”, the CRA will only say that it was launched on information from a “confidential informant”.

RBC issued a written statement, saying “As a firm, we have never encouraged Canadians — not 25 years ago and not today — to set up entities in Liechtenstein, and we have never instructed our investment advisers to recommend that practice,” and “we comply with all CRA requirements. This means that we provide all our clients with the forms they need to meet their personal tax obligations, and also file reports with CRA that form the basis for reviews such as this.”

Three RBC employees are presently being investigated, with one remaining unidentified.

Posted in Uncategorized
<div class=Dell joins Microsoft-Nortel VoIP Team
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Dell joins Microsoft-Nortel VoIP Team

Saturday, October 20, 2007

Dell Inc. announced on Tuesday that it will partner up with the Microsoft-Nortel Innovative communications alliance (ICA) team to sell Unified Communications and VoIP products.

The announcement on Tuesday the 16th of October 2007 includes Dell selling VoIP, data and wireless networking products from Nortel and the Microsoft Office Communications Server 2007 and other unified communications products.

The partnership with both manufacturers should allow Dell to provide a pre-integrated solution.

In March 2007, competitors IBM and Cisco announced they would join in the competition for developing unified communications applications and the development of open technologies around the unified communications and collaboration (UC2) client platform an application programming interfaces (APIs) offered by IBM as a subset of Lotus Sametime.

“We want to make it simple for our customers to deploy unified communications so their end users can get access to all their messages in one place – whether its e-mail, phone or mobile device. This will pave the way for more business-ready productivity tools,” said vice president of solutions, Dell Product Group, Rick Becker.

  • Customers have four options:
    • Core Office Communication Server 2007 – provides instant messaging and on-premise Microsoft Live Meeting.
    • Office Communication Server: Telephony – enables call routing tracking and management, VoIP gateway and public branch exchange (PBX) integration.
    • Audio and Video Conferencing – allows point-to-point conference, video conference and VoIP audio conference.
    • Exchange Unified Messaging – provides voicemail, e-mail and fax in Microsoft Outlook, and anywhere access of Microsoft Outlook Inbox and Calendar.
Posted in Uncategorized
<div class=G20 agrees to avoid currency war, also agrees to reduce trade imbalances
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G20 agrees to avoid currency war, also agrees to reduce trade imbalances

Tuesday, October 26, 2010

The Group of 20 (G20) of the world’s leading developed and developing countries’ finance ministers agreed on Saturday to pursue a plan that would avoid dangerous currency devaluations and would also would attempt to reduce trade imbalances. The plan was introduced by the United States, and the G20 meeting was held in South Korea.

The plan was announced amid rising worries of a “currency war” that would lead to devalued currencies in order to get an export advantage and would damage the global economy. “Our cooperation is essential. We are all committed to play our part in achieving strong, sustainable and balanced growth in a collaborative and coordinated way,” a statement released by the G20 said.

On the topic of trade imbalances, the G-20 stated that “excessive imbalances” would be “assessed against indicative guidelines to be agreed.” This statement was weaker than a commitment proposed by United States Treasury Secretary Timothy Geithner, which would keep trade imbalances “below a specified share” of GDP for the next few years. This proposal was met with strong opposition from export-based economies such as Japan, whose Finance Minister Yoshihiko Noda argued that specific targets were “unrealistic”, but approved of unspecific “guidelines”. He added: “There are many perspectives on the current account issue. Every country has a different situation when it comes to surpluses and deficits. So we need to study this carefully.”

The United States said that they will continue to push for numerical targets and specific time frames at next month’s South Korean summit, where the heads of state of the G20 will convene. “If the world is going to be able to grow at a strong, sustainable pace in the future . . . then we need to work to achieve more balance in the pattern of global growth as we recover from the crisis,” US Treasury Secretary Geithner declared. The finance ministers also set China on the track to floating its currency more, and overhauling the International Monetary Fund (IMF) to give more representation to developing powers such as China and India.

The G20 was created in 1999, includes both developed and developing countries, and represents 85% of the world’s economy. The G20’s heads of state will meet in Seoul, South Korea, next month.

Posted in Uncategorized
<div class=Global markets plunge
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Global markets plunge

Friday, October 10, 2008

Stock markets across the world have fallen sharply with several seeing the biggest drop in their history.

Asian markets saw the biggest sell-off. The Nikkei dropped 9.62% to reach a 20 year low. Japan also saw a collapse of a mid-size insurance company, Yamato Life Insurance Company, which declared bankruptcy. The Hang Seng, which was one of the few markets that was positive yesterday, fell 7.19%. Australia dropped by 8.4% and South Korea saw a 9% fall.

In Europe, markets dropped at the open with the FTSE losing 11%. They have recovered only sightly with all European markets losing more than 5%. The European sell off was more about the Asian lows then any specific news. European banks and financial institutes saw the most selling. Also, oil related companies saw large drops as an result of an expected decrease in oil consumption.

The U.S. markets opened lower with the Dow Jones Industrial Average falling below 8,000, before recovering slightly. President George W. Bush made an address on the economy and said markets were being “driven by uncertainty and fear.”

Oil has seen losses of more than US$6 in trading with the current price of a barrel of oil less than $80. This is a year low for oil. News also came out that OPEC will hold an emergency meeting on November 18 to discuss the falling price of oil.

Charities, such as Cats Protection, today said that they have lost much of their funds in collapsing banks. Cats Protection had a total of £11.2 million saved in the now-collapsed Kaupthing bank.

The British National Council for Voluntary Organisations said that 60 of its 6,500 have lost money due to the collapse of banks.

Contents

  • 1 Stock markets
    • 1.1 Dow Jones Industrial Average
    • 1.2 FTSE 100
    • 1.3 Nikkei 225
  • 2 International reaction
    • 2.1 George W. Bush
    • 2.2 Gordon Brown
    • 2.3 Jim Flaherty
  • 3 Market data
  • 4 Sources

The Dow Jones Industrial Average fell to its lowest level in five years at 8,579.19, falling 679 points in one day. This, at 7.3%, is the eleventh largest percentage fall in the history of the index. The growth then continued, with the index being up over 150 points on the start of the day at one point.

The index, did however, recover, and as of 19:30 UTC was up 17.68 points, or 0.21%, pushing the index up to almost 8600.

Peter Cardillo, chief market economist at Avalon Partners, commented on these massive falls. “What we’ve seen here was one big margin call that just kept feeding on itself, so the opposite could happen. But you need a catalyst,” he said. “I’m more convinced now than ever that this market has made a bottom. The capitulation came when we breached 8,000,” he continued. “It doesn’t mean we can’t go back and revisit that level.”

The UK’s FTSE 100 index fell dramatically to close below 4000, in the index’s worst week in history. This is despite the fact that just a few days ago the index was above 5000, and the index peaked above 5500 in September.The FTSE 100 index has fallen by 41% this year.

Barclays Wealth analyst Henk Potts commented on this massive fall. “We are drowning in a sea of red numbers,” he claimed. “Investors are concerned about the exacerbation of the credit crunch and the gloomy forecasts for economic growth. The reality is that most investors have been spooked by the sheer pressure that the credit crunch is putting on the global economy.”

The Japanese Nikkei 225 has recorded it’s third biggest drop in history with a massive sell-off in the exchange that has resulted in USD 250 billion being knocked of the index’s value.

Toyota, which is the second largest carmaker in the world, fell by the largest amount in 21 years, while Elpida Memory, the world’s largest manufacturer of computer memory, dropped in value to a record low.

Masafumi Oshiden, a fund manager in Toyota commented on the drop.”It’s capitulation,” he said. “There are lots of forced sellers. If you’re a fund that’s going bust you need to close out all your positions.”

George W. Bush commented on the financial situation earlier today. “Over the past few days, we have witnessed a startling drop in the stock market — much of it driven by uncertainty and fear,” he said. “This has been a deeply unsettling period for the American people. Many of our citizens have serious concerns about their retirement accounts, their investments, and their economic well-being.”

Bush then continued by promoting the government’s plan’s to get through the crises. “Here’s what the American people need to know: that the United States government is acting; we will continue to act to resolve this crisis and restore stability to our markets. We are a prosperous nation with immense resources and a wide range of tools at our disposal. We’re using these tools aggressively.”

Gordon Brown, the UK Prime Minister, also spoke on the economy. “I think we quickly realised that we cannot solve the problems we have got as a result of the sub-prime market collapse simply by improving liquidity,” he said speaking in Birmingham to business leaders earlier today. “That would simply not be enough to deal with the bigger problem of rebuilding the banking system for the future and restoring trust is a fundamental element of that.”

Jim Flaherty, the Canadian minister for finance, also commented today on the recent incidents in the economy. “It is important to underline that Canada’s banks and other financial institutions are sound, well capitalized and less leveraged than their international peers,” he claimed. “Our mortgage system is sound. Canadian households have smaller mortgages relative both to the value of their homes and to their disposable incomes than in the U.S.”

“”However, it is becoming increasingly clear that the continuing disruption of global credit markets, which has been severe and protracted, is making it difficult for our financial institutions to raise long-term funding. This is beginning to affect the availability of mortgage loans and other types of credit in Canada,” he continued. “The Government has therefore decided to act to address the current scarcity of private sector lending to Canadian mortgage markets and lending markets overall. This is going to make loans and mortgages more available and more affordable for ordinary Canadians and businesses.”

20:15, 10 October, 2008 (UTC)
  • DJIA
  • 8.451,19 128,00 1,49%
  • Nasdaq
  • 1.649,51 4,39 0.27%
  • S&P 500
  • 899,22 10,70 1,18%
  • S&P TSX
  • 9.264,57 335,61 3.50%
  • IPC
  • 19.952,30 357,87 1,76%
  • Merval
  • 1.215,990 71.340 5,54%
  • Bovespa
  • 35.615,26 1,474.03 3,97%
  • FTSE 100
  • 3.932,06 381,74 8,85%
  • DAX
  • 4.544,31 342,69 7,01%
  • CAC 40
  • 3.176,49 266,21 7,73%
  • SMI
  • 5.347,22 451,62 7,79%
  • AEX
  • 258,05 23,92 8,48%
  • BEL20
  • 2.123,44 117,44 5,24%
  • MIBTel
  • 15.438,00 1,081,00 6,54%
  • IBEX 35
  • 8.997,70 905,20 9,14%
  • All Ordinaries
  • 3.939,50 351,80 8,20%
  • Nikkei
  • 8.276,43 881,06 9,62%
  • Hang Seng
  • 14.796,90 1,146,37 7,19%
  • SSE Composite
  • 2.000,57 74,01 3,57%

    Posted in Uncategorized