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Sunday, February 13, 2011

With a fourth-quarter investment earnings of $3.9 Billion CAD, largely driven by stock market rises, the Canada Pension Plan’s (CPP) assets rose to $140.1 Billion reported the CPP Investment Board on Thursday.

Rate of return for the quarter netted three percent, bringing the first nine months of the fiscal year to 8.3%. The fund’s broad exposure to equities, in concert with a good quarter for stocks both in Canada and internationally, was largely to be credited according to CEO David Deneson.

The assets value rose from $127.6 Billion March 31st 2010, to $138.6 B on September 30th, to $140.1 B December 31st. The $3.9 B investment earnings, 3.58 of which came from the 54% of the portfolio in equities, was partially offset by seasonal outlays of $2.4 B to plan members.

The fund was very active throughout the calendar year, and particularly active in infrastructure, real estate, and private equity. As part of a consortium they completed the $4.8 B purchase of UK-based Tomkins plc, as well as purchasing Australian-based Intoll for $3.4 B thus acquiring a 30% stake in the 407 Express Toll Route (ETR) near Toronto — which they expanded purchasing a further 10% stake from Spain’s Concesiones de Infraestructuras de Transporte, S.A. (CINTRA). They acquired a 25% equity stake in Westfield Stratford City, a retail complex adjacent to London’s Olympics venue, among many real estate ventures.

The CPP fund covers every province except Quebec, whose Caisse de Depot et Placement du Quebec is the only larger pension fund in Canada. The five-year annualised investment rate of return for the CPP reserve fund was 3.5%, its 10-year rate of return was 5.6%, at the close of 2010. The fund was established in 1997.

Saturday, September 1, 2007

The terrestrial analogue television broadcasts in Finland ended in September 1, 2007, at 04:00 local time, marking the transition to the digital DVB-T standard. DVB broadcasts were started in 2001, Users of terrestrial TV are no longer able to receive the formerly nationally available TV channels – YLE TV1, YLE TV2, MTV3, and Nelonen – without set-top boxes or TV sets with built-in digital receivers. SVT Europa is also no longer available in analogue networks.

Cable networks are permitted to make the analogue mode available until the end of February 2008.

While over 75% of households already use digital TV, as of mid-August, over 220 000 households that depend on terrestrial broadcasts have not yet purchased a set-top box. There are also areas where digital terrestrial broadcasts are not yet available. This is being remedied through relay transmitters that will be set up over the following months.

Sunday, August 20, 2006

Track star Marion Jones, winner of 3 gold medals in the 2000 Sydney Olympics, has tested positive for the performance enhancing drug, EPO. The hormone helps create extra red blood cells which allows the user’s body to absorb extra oxygen.

Jones was expected to compete in yesterday’s Golden League meet in Zurich, Switzerland, but left early in the morning for “personal reasons.” It was announced earlier today (UTC) that she had tested positive for EPO. Jones faces a two year ban if her B test sample comes back positive.

Jones has a history of association with steroid users and dealers. In 1999, her then husband CJ Hunter tested positive for a similar drug, nandralone. He had to withdraw from the 2000 Sydney Olympics, and received a two year ban.

Jones later divorced him, and in 2002 started a relationship with another track star, Tim Montgomery, who were both coached by Trevor Grahm.

Montgomery set a record in the 100 meter sprint of 9.78 seconds at a race in Paris that year. He was banned for two years and stripped of his record due to evidence in the Federal BALCO investigation. In the BALCO investigation, several witnesses stated that Marion Jones was taking banned substances received from BALCO.

Jones’ coach, Grahm, has been involved with 10 other athletes that tested positive and were ultimately banned for the use of illegal substances. Justin Gatlin, also coached by Grahm, also tested positive for artificial Testosterone, but has not been banned or stripped of his record.

Another American athlete, cyclist Floyd Landis tested positive for excessive levels of adrenaline after winning the Tour-de-France, which may lead to him being the first winner in the tournament’s history to be stripped of the title.

Wednesday, January 27, 2010

The bodies of two children were found this morning in a car in Heathfield, East Sussex, in the United Kingdom. A 43-year-old woman has been arrested on suspicion of the murders.

The boy and girl were both less than five years old, and were discovered at 11:46 this morning (GMT) when Sussex police officers forced their way into the vehicle, which was parked on Mill Close in Heathfield. The woman, who has yet to be identified, had visited Heathfield police station earlier this morning to report “an incident”, and was later arrested on suspicion of murder. The police say that they have identified the bodies. The identities will be revealed when the post mortem examinations take place, which is scheduled for next Thursday.

The woman was taken to Eastbourne District General Hospital, and has not yet been interviewed by the police. She is believed to be from Surrey but have connections with the Heathfield area. Mill Close, the road on which the incident occurred, has been closed, according to a police spokeswoman, who said, “An investigation is now under way and the area around the scene is cordoned off.” Chief Inspector Julia Pope, Wealden district policing commander, said, “This is a very tragic incident, but I would like to reassure people that it is fully contained and there is no threat to anyone in the area. We will move to restore normality and access to Mill Close as quickly as possible.” A spokesman for the South East Coast Ambulance Service said, “We sent an ambulance and two response cars but sadly two young children were pronounced dead at the scene.”

Wednesday, July 12, 2006

Canadian media company CHUM Limited has announced that it has agreed to be acquired by larger rival Bell Globemedia Inc. for $1.7 billion CAD cash, bringing the CTV and Citytv broadcast-television networks and such specialty channels as MuchMusic, TSN and Bravo! under the same corporate umbrella.

Shareholders will receive $52.50 per common share of CHUM and $47.25 per Class B (non-voting) share. The estate of the late Allan Waters, who died late last year, has agreed to tender all its shares to the bid, netting the Waters family nearly $450 million.

In a joint statement, CHUM’s chairman, Jim Waters, said, “In Bell Globemedia’s offer, we not only found value for shareholders, but confidence that we would be placing CHUM in the hands of an owner with the financial resources and track record to continue to grow and build on our collective legacy.”

Globemedia CEO Ivan Fecan added, “We are able to make this premium offer because Bell Globemedia is clearly the most logical buyer of CHUM. There is a unique strategic fit to our operations that can make the united company a stronger national champion in broadcasting. We intend to maintain and build the valuable CHUM brands and develop more opportunities for Canadian programming.” He added that CTV and Citytv will remain separate networks and “will maintain separate and independent news divisions in order to ensure a continued diversity and competition in news coverage.”

In a separate release, CHUM announced it would be cutting 281 jobs at its stations across the country, particularly at its Citytv stations in western Canada. Effectively immediately, evening newscasts at CKVU-TV Vancouver, CKEM-TV Edmonton, CKAL-TV Calgary and CHMI-TV in the Winnipeg market are being eliminated, with plans for a new newsmagazine tentatively titled In Your City at the three Prairie stations, and more resources being put into each station’s local version of Breakfast Television. Less drastic changes are planned for its A-Channel stations in smaller markets. The company said these changes will result “in a significant reduction in staffing and operating costs.”

The companies said that they expect to sell CHUM’s A-Channel stations, as well as Alberta educational broadcaster Access, to third parties, despite CTV’s historical ties to several of them. Many of the A-Channel stations were originally acquired by CHUM from Baton Broadcasting, the predecessor of Bell Globemedia, in 1997, as part of a trade that sent CHUM’s ATV and ASN assets in Atlantic Canada to Baton and allowed Baton to acquire the CTV network itself.

Despite CHUM’s ownership of MuchMusic and CTV’s recent launch of MTV Canada, the companies claim their specialty channels are “complementary” and did not indicate any sale plans.

Bell Globemedia is currently majority-owned by BCE Inc. but is awaiting regulatory approval for a restructuring involving the Ontario Teachers Pension Plan, Torstar Corp., and the Thomson family. In the interim, the takeover offer will be made by a new company owned by the proposed new shareholder structure.

Thursday, August 25, 2005

Created by the Brampton Arts Council and the City of Brampton, the Studios of Brampton studio tour will allow residents a chance to view works by dozens of local artists at twelve locations.

The tour will run October 1 & 2 from 10 pm until 4 pm ET.

On the tour are the personal studios of watercolourist Jack Reid, sculpture Marion Bartlett, woodworker Rick Bino, ceramicist Eric Wong, calligrapher and fashion illustrator Rosemarie Gidvani, abstract painter Karen Darling, oil painter John Cutruzzola, stain-glass artist Darlene Robichaud, and watercolourist Gordon Stuart.

Also on the tour is the Art Gallery of Peel, which will be exhibiting Sydney Drum, a Canadian artist based in New York, and Kelly McNeil.

Visual Arts Brampton and Beaux-Arts Brampton will both have line-ups of local artist members. VAB has confirmed displays by William Band, Bridget Doughty, Betty Jean Evans, Marguerite Finlayson, Conrad Mieschke, Keith Moreau, Mary Noble, Olga Rudge, and Elizabeth Patrick.

Sample works representing each location on the tour will be shown at the Brampton City Hall’s Atrium Gallery.

Thursday, October 4, 2007

As many as 3,200 mine workers became trapped in the in Elandsrand mine, a gold mine in South Africa about 50 miles (80 km) west of Johannesburg in Carletonville, Gauteng, after an incident on October 3. All miners have been rescued, and none of them were injured. The mine is owned by Harmony Gold Mining Corporation.

The mining company says that a lift electrical cable broke on a basket that was carrying miners, trapping thousands at least 2,200 meters (1.3 miles) below the earth’s surface. Reports from MSNBC and the Guardian Unlimited say that the shaft may have collapsed when a water or air pipe burst. The rescue operation went well with no complications, with the rescue taking just under 24 hours to complete.

“They were underground when the accident happened and they were not able to surface because an electric feeder cable that is connected to the mine lift was severed,” said a spokeswoman for the mining company, Amelia Soares. The snap was caused by a “fatigued” air pipe which burst and fell down the shaft damaging the “steelwork and electrical feeder cords,” added Soares. “They are all in good condition.”

“They are all safe. There have been no injuries or deaths,” said CEO of Harmony mining, Graham Briggs who also said that the miners were previously contacted and were given “food and water.”

Earlier reports had stated that Lesiba Seshoka, a spokesman with the National Union of Mineworkers, said that the miners have not been heard from for hours and that they could have been enduring temperatures as high as 105 degrees Fahrenheit (40 degrees Celsius).

“This is a terrible situation. The only exit is blocked, probably by a fall of ground,” said Seshoka.

Rescue workers used a mine shaft that is next to the damaged one in an attempt to reach the trapped miners, and lifted them out, 75 at a time. There was no emergency exit in the shaft which is reported to have “not been maintained for ages,” added Seshoka.

“An escape route is the most important thing and they have failed miserably. They need to ensure that the shaft is maintained. This is why we have this disaster. Our main worry is for more than 3,000 people who are underground,” said National Union of Mineworkers for S. Africa chairman, Deon Boqwana.

Current reports say that “negligence” was the initial cause for the pipe burst and that there has been a history of negligence from the mine. “We suspect negligence. Because of continuous operations there is no time to make adequate checks,” said the President of the Miners union, Senzeni Zokwana to reporters during a news conference.

The Elsrand mine is currently under development and has been since February 2001 when Harmony bought the mine. Officials state that the mine will remain closed for a minimum of six weeks, while an investigation is performed, and the mine is deemed safe for miners to continue working in it.

The mine is located in the Witwatersrand Basin of South Africa, which is said to be the location of the largest area of raw gold on the planet.