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Chủ Nhật, 14 tháng 4, 2013

Harper says trend still positive for domestic economy

OTTAWA (Reuters) - Canada's economic performance remains generally positive, Prime Minister Stephen Harper said on Thursday, despite some bad economic data and downgrades to economic forecasts for 2013.

"We can expect we're going to have good months and bad months in terms of numbers. The trend lines remain generally positive," Harper told reporters in Calgary.

Economists in a Reuters poll published on Thursday cut their 2013 growth forecasts to 1.6 percent from 1.8 percent. Last week a report showed the biggest monthly job losses in March since 2009.

(Reporting by Scott Haggett; Writing by Louise Egan; Editing by Leslie Adler)


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Thứ Tư, 3 tháng 4, 2013

Canada inflation jumps, rate change still seen far off

By David Ljunggren

OTTAWA (Reuters) - Canada's annual inflation rate jumped more than expected in February, but analysts said the spike was unlikely to pressure the Bank of Canada to raise interest rates any time soon.

The year-on-year rate rose to 1.2 percent from a three-year-low of 0.5 percent in January on higher gas and auto prices, Statistics Canada said on Wednesday.

That's still well below the midpoint of the Bank of Canada's 1.0 to 3.0 percent target range.

The central bank has said it expects to raise interest rates one day, despite still-low year-on-year inflation. But the time frame for a possible rate hike has kept stretching out as domestic and global economies have stumbled.

"There will be a short-lived pop in the currency, but I don't think it is going to make a fundamental change in the bank's outlook," said Doug Porter, chief economist at BMO Capital Markets. "I don't think this advances the timetable on Bank of Canada rate hikes."

Analysts surveyed by Reuters in late February didn't expect any move by the central bank before next year.

Monthly inflation jumped to 1.2 percent, the steepest month-on-month jump in prices since January 1991, when the federal government introduced a goods and services tax and prices were also up 1.2 percent on the month.

Seven of eight components in the consumer price index were higher in February, with transportation prices - including gas prices - up particularly steeply.

"Anytime you get a monthly rise of more than one percent in the headline is huge. Of course we've got to put in the context that we've just come off a period of remarkable calm in Canadian inflation and this looks to be quite the payback," said Porter.

GAS, VEHICLE PRICES UP

The data helped briefly push the Canadian dollar higher against the U.S. dollar. It touched a session high of C$1.0155 versus the U.S. dollar, or 98.47 U.S. cents, up from C$1.0177, or 98.26 U.S. cents, immediately before the data.

"Anyone that is still contemplating rate cuts will have to revisit that with today's stronger than expected number," said Sebastien Lavoie, economist at Laurentian Bank. "But we have to put that in context and realize that previous CPI numbers over the last few months were quite tame."

Gas prices advanced 3.9 percent year over year in February after dropping 1.8 percent in the 12 months to January. February gas prices rose by 8.4 percent from January, the largest month-on-month increase since the 8.8 percent seen in May 2008.

The cost of passenger vehicles rose by 2.5 percent in the 12 months to February, when the number of manufacturers' rebates dropped, after falling 0.8 percent in the year to January.

The Bank of Canada's closely-watched core rate, which strips out prices of more volatile items such as energy and some foodstuffs, rose 1.4 percent in the 12 months to February following a 1.0 percent year-on-year advance in January.

The bank softened its stance on the need for interest rate hikes earlier this month, saying it was likely to hold its benchmark rate steady for "a period of time" given slack in the economy and tepid growth.

The central bank's overnight lending target has been at a near-record low of 1.0 percent since September 2010.

"When you are looking at the annual growth in prices, we are back in the target range of the Bank of Canada. This was expected. The return to target is maybe earlier than expected, but it was expected quite soon," said Benoit Durocher, a senior economist at Desjardins.

"The inflation pressure should stay very low in the coming months. For the Bank of Canada, it doesn't change anything."

(Additional reporting by Solarina Ho, Andrea Hopkins and Alastair Sharp in Toronto; Editing by Janet Guttsman, Jeffrey Hodgson and Bernadette Baum)


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Thứ Hai, 1 tháng 4, 2013

Pope Francis still has most of his right lung

BUENOS AIRES, Argentina (AP) — Does the pope have only one lung?

Despite reports that Pope Francis has lived most of his life with just one lung, he had actually only removed the upper part of his right lung in a surgery, and his friends and family say he remains in good health for a 76-year-old man.

The Buenos Aires archdiocese and the Vatican have declined to provide medical reports or specific details about the surgery. Erroneous reports that his entire lung was removed have appeared in numerous media, including Argentine newspapers and The Associated Press, since as early as 2005, when Bergoglio was considered a potential successor to Pope John Paul II.

But the Vatican spokesman, the Rev. Federico Lombardi, put it this way after Bergoglio succeeded Benedict XVI: "I confirm that many, many years ago he had an operation in which part of a lung was removed." Lombardi added that it wasn't a handicap for Francis, and that "those who know him have always seen him in good health."

Bergoglio's former spokesmen, Federico Wals and Guillermo Marco, said they didn't know any details about the operation, which would have occurred in the late 1950s. They said the diocese does not have his medical records.

The AP could find no record showing Bergoglio himself talking about his lung condition, apart from describing it to two journalists, Sergio Rubin and Francesca Ambrogetti, who wrote his authorized biography, "El Jesuita," and another book published last month, "Pope Francis: Conversations with Jorge Bergoglio."

The "Conversations" book says Bergoglio was a 21-year-old seminarian when he fell feverish and was near death for days.

"The doctors were worried. Finally, they diagnosed a severe lung infection. Because they found three cysts, when his condition was stabilized and a prudent amount of time had passed, he had to undergo the removal of the upper part of his right lung."

"The pain was tremendous," the book continues. "Since then, he's dealt with a pulmonary deficiency that, while it doesn't limit him seriously, it marks a human limit. Surely, that episode strengthened his understanding of what's really important in life."

The pope's last surviving sibling, his younger sister Maria Elena Bergoglio, also told the AP that doctors removed "a pretty big part" of one lung, but said her brother is "completely healthy."

Marco, who served as Bergoglio's spokesman for years in Buenos Aires, said "a good part" of one lung had been removed, but he told the AP that diminished lung capacity seemed to bother Francis less than other ailments that come with old age, such as lower back pain. That's why he wears orthopedic shoes and uses a cane at times, and "walks kind of crookedly," Marco said.


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Thứ Năm, 28 tháng 3, 2013

Canada inflation jumps, rate change still seen far off

By David Ljunggren

OTTAWA (Reuters) - Canada's annual inflation rate jumped more than expected in February, but analysts said the spike was unlikely to pressure the Bank of Canada to raise interest rates any time soon.

The year-on-year rate rose to 1.2 percent from a three-year-low of 0.5 percent in January on higher gas and auto prices, Statistics Canada said on Wednesday.

That's still well below the midpoint of the Bank of Canada's 1.0 to 3.0 percent target range.

The central bank has said it expects to raise interest rates one day, despite still-low year-on-year inflation. But the time frame for a possible rate hike has kept stretching out as domestic and global economies have stumbled.

"There will be a short-lived pop in the currency, but I don't think it is going to make a fundamental change in the bank's outlook," said Doug Porter, chief economist at BMO Capital Markets. "I don't think this advances the timetable on Bank of Canada rate hikes."

Analysts surveyed by Reuters in late February didn't expect any move by the central bank before next year.

Monthly inflation jumped to 1.2 percent, the steepest month-on-month jump in prices since January 1991, when the federal government introduced a goods and services tax and prices were also up 1.2 percent on the month.

Seven of eight components in the consumer price index were higher in February, with transportation prices - including gas prices - up particularly steeply.

"Anytime you get a monthly rise of more than one percent in the headline is huge. Of course we've got to put in the context that we've just come off a period of remarkable calm in Canadian inflation and this looks to be quite the payback," said Porter.

GAS, VEHICLE PRICES UP

The data helped briefly push the Canadian dollar higher against the U.S. dollar. It touched a session high of C$1.0155 versus the U.S. dollar, or 98.47 U.S. cents, up from C$1.0177, or 98.26 U.S. cents, immediately before the data.

"Anyone that is still contemplating rate cuts will have to revisit that with today's stronger than expected number," said Sebastien Lavoie, economist at Laurentian Bank. "But we have to put that in context and realize that previous CPI numbers over the last few months were quite tame."

Gas prices advanced 3.9 percent year over year in February after dropping 1.8 percent in the 12 months to January. February gas prices rose by 8.4 percent from January, the largest month-on-month increase since the 8.8 percent seen in May 2008.

The cost of passenger vehicles rose by 2.5 percent in the 12 months to February, when the number of manufacturers' rebates dropped, after falling 0.8 percent in the year to January.

The Bank of Canada's closely-watched core rate, which strips out prices of more volatile items such as energy and some foodstuffs, rose 1.4 percent in the 12 months to February following a 1.0 percent year-on-year advance in January.

The bank softened its stance on the need for interest rate hikes earlier this month, saying it was likely to hold its benchmark rate steady for "a period of time" given slack in the economy and tepid growth.

The central bank's overnight lending target has been at a near-record low of 1.0 percent since September 2010.

"When you are looking at the annual growth in prices, we are back in the target range of the Bank of Canada. This was expected. The return to target is maybe earlier than expected, but it was expected quite soon," said Benoit Durocher, a senior economist at Desjardins.

"The inflation pressure should stay very low in the coming months. For the Bank of Canada, it doesn't change anything."

(Additional reporting by Solarina Ho, Andrea Hopkins and Alastair Sharp in Toronto; Editing by Janet Guttsman, Jeffrey Hodgson and Bernadette Baum)


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Thứ Ba, 19 tháng 3, 2013

Power still out at damaged nuclear plant in Japan

TOKYO (AP) — Four fuel storage pools at Japan's tsunami-damaged nuclear plant have been without fresh cooling water for more than 15 hours due to a power outage, but the plant's operator said Tuesday morning it was trying to repair a broken switchboard that might have caused the problem.

Tokyo Electric Power Co. said that pool temperatures were well within safe levels at the Fukushima Dai-ichi plant, and that pools would remain safe for at least four days without fresh cooling water.

The utility was preparing a backup system in case the repairs didn't fix the problem, Masayuki Ono, an official at operator Tokyo Electric Power Co., told reporters.

"If worse comes to worst, we have a backup water injection system," said Ono.

The command center at the plant suffered a brief power outage before 7 p.m. Monday. Electricity was quickly restored to the command center but not to equipment pumping water into the fuel pools.

The utility was investigating the cause of the power outage and believes it might be due to problems with a switchboard, which it is trying to repair. At the same time, the company is preparing to connect another switchboard if repairs cannot fix the problem.

The temperature in the four pools had risen slightly, but was well below the utility's target control temperature of 65 degrees Celsius, TEPCO said.

The fuel pool for Unit 4, which contains spent and new fuel rods, had risen to 30.5 degrees as of 10 a.m. Tuesday from 25 degrees before the power outage. A common pool storing spent fuel for all reactors was at 28.6 degrees, while the Unit 1 pool was at 17.1 degrees and Unit 3 was at 15.9 degrees.

TEPCO said the reactors were unaffected and no other abnormalities were found.

The March 11, 2011, earthquake and tsunami destroyed the plant's power and cooling systems, causing three reactor cores to melt and fuel storage pools to overheat. The plant is now using makeshift systems.

__

Associated Press writer Malcolm Foster contributed to this report.


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Chủ Nhật, 10 tháng 3, 2013

Cricket-Bracewell still injured, NZ unchanged for second test

DUNEDIN, New Zealand, March 11 (Reuters) - New Zealand pace bowler Doug Bracewell has not recovered from a cut foot in time for the second test against England in Wellington, the team said on their website (www.blackcaps.com) on Monday.

New Zealand coach Mike Hesson named an unchanged 13-man squad for the match at the Basin Reserve starting on Thursday with left-arm pace bowler Neil Wagner, who took seven wickets in the drawn first match in Dunedin expected to fill the third seamer role again.

Ian Butler, called up as cover for the injured Bracewell will remain with the squad.

Bracewell, who cut his foot on glass after clearing up following a party at his house in Napier and missed the first test, is still in contention for the third test, Hesson said.

"I was very pleased with both the bowling and batting efforts in Dunedin and we plan to build on that in Wellington," the coach said in a statement.

New Zealand produced a credible performance in the first match, bowling England out for 167 in their first innings and scoring 460 for nine declared with debutant opener Hamish Rutherford making 171.

Alastair Cook's side then batted for almost five sessions to save the test, reaching 421 for six, a lead of 128 runs, before Brendon McCullum and Cook agreed there was no chance of a result with 15 overs remaining on the final day on Sunday.

The second test is from March 14-18 before the third and final match begins in Auckland on March 22.

New Zealand squad: Brendon McCullum (captain), Hamish Rutherford, Peter Fulton, Kane Williamson, Ross Taylor, Dean Brownlie, BJ Watling, Tim Southee, Bruce Martin, Neil Wagner, Trent Boult, Tom Latham, Ian Butler.

(reporting by Greg Stutchbury, editing by Ed Osmond)


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Thứ Hai, 25 tháng 2, 2013

Victims of Kenya's last election still in limbo

GWA KUNGU, Kenya (AP) — Alex Ndungu is the latest victim of the harsh mountain winds that blow through the rows of straw huts in Gwa Kungu, a village where those displaced by Kenya's election violence five years ago remain, in limbo. Alex died of complications resulting from pneumonia and anemia. He was 9 months old.

The 624 people living at Hope Camp are an illustration of one of the many lingering effects of the tribe-on-tribe violence that rocked Kenya after its 2007 presidential election. Five years later — and now only days before the country's March 4 presidential election — hundreds of the refugees still have not returned home.

Kenya holds another high-tension election next Monday, and though officials are working to prevent a repeat of violence, there are signs it may again return.


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Thứ Sáu, 22 tháng 2, 2013

Argentine trains still perilous a year after crash

BUENOS AIRES, Argentina (AP) — The bustling "Once de Septiembre" station in the heart of Buenos Aires looks much the same as it did nearly a year ago, when Argentina's worst train accident in 40 years shook this ornate building.

Except for a new coat of paint and a few renovated platforms, the same decades-old trains shuttle in and out, moving tens of thousands of passengers every day between this city's center and its working class outskirts.

Revisiting the echoing terminal on a recent afternoon, Maria Lujan Rey said there's one more thing that hasn't changed since Feb. 22, 2012: The trains are still unsafe.

She lost her 20-year-old son, Lucas Menghini, last year at Once, as the station is popularly known, when the lead car of a packed commuter train hit a shock-absorbing barrier and sent the next car crunching into it. The crash killed 51 people and injured 800 others, unleashing national outrage at the sorry state of the country's once-proud rail system. Lucas was the last victim to be found, 60 hours after the crash.

Like other victims' relatives as well as passengers, Lujan Rey said the government's response so far has been cosmetic at best, and has exposed what they say is systemic, deadly corruption at the highest levels.

"What you see here are the same cars that caused the tragedy," Lujan Rey told reporters in the station while gripping the hand of Graciela Bottega, the mother of 24-year-old train crash victim Tatiana Pontiroli. "They've improved the tracks that were rusted and at least 60 years old. But we're running the risk of this happening again, because (the government) has not taken charge of what happened, and this is something we could have avoided."

"It's hard for me to come here," Lujan Rey said, "but I come to seek justice."

President Cristina Fernandez has certainly tried to show her country that she too is seeking justice and is fixing the problems.

An appeals court investigation has produced criminal charges against 28 people, including two former transportation secretaries and two executives, Claudio and Mario Cirigliano, who prosecutors say made a fortune on transportation subsidies intended for trains. The conductor, Marcos Cordoba, who narrowly survived the crash, has also been charged. A trial is expected to start by early next year.

Fernandez promised this month that her government will invest $3.5 billion to repair train cars, rail lines and stations. She said that by next year trains using the Sarmiento and Mitre lines, which run through the Once station, would be replaced with more than 400 Chinese-made cars equipped with "televisions and air conditioning."

In that 45-minute speech, however, she made no mention of the train disaster. And on Thursday night's eve of the crash anniversary, she likewise declined to apologize or take responsibility for any systemic failures during the 10 years in which she and her husband, the late President Nestor Kirchner, have run the country.

"I want to pay homage to the victims of the Once tragedy," she said. "I know that the loss of a loved one is irreparable, but there is the justice system, to determine responsibilities." In a move more symbolic than anything, train operators no longer charge passengers to travel to Once on the line where the crash happened.

"What we have to do is transform the Sarmiento line," Florencio Randazzo, minister of the interior and transportation, said in January. "The best way to honor those who lost their lives on the line is to have a better line."

Those who ride the rails to work every day said they have yet to see the improvements. All the old dangers still plague the system, they said, with passengers enduring cars packed so tightly that they must hang their arms out the windows, and cars operating without their full complement of brakes due to shortages of spare parts.

In a modern rail system, most of the deaths might have been avoided because the train cars wouldn't have crumpled so easily. At the time of the crash, the cars were traveling only 12 mph, but the trains used in much of Argentina aren't built to withstand hard stops after hitting a shock-absorbing barrier, which functioned correctly in the Once case.

Car insurance company manager Daniela Suarez, 38, said all the government talk has so far produced no changes.

"They haven't improved anything since the crash, nothing," Suarez said. "The only thing that's been done is to stop charging for the ticket. But that obviously doesn't fix anything."

At the heart of the criticism is a privatized rail system that critics say offers generous public subsidies to contractors with little government oversight. Regulators have since taken over the company Trenes de Buenos Aires that ran the line involved in the crash, as well as much of the country's rail system.

Since 2003, when Fernandez's late husband Nestor Kirchner took office, the federal government has invested $4 billion in rail infrastructure and invested hundreds of millions of dollars a year in subsidies to keep ticket prices low.

Unhappiness with the rail system has nonetheless grown. Many people's suspicions about the arrangement were confirmed when the Cirigliano brothers, co-owners of Trenes de Buenos Aires, were charged with fraudulent mismanagement of state funds. In a damning finding, the appeals court wrote that "the progressive deterioration of the trains, and with it, the increase of risks" plagued the system and said the disaster resulted from the "breaking of the ... obligations of the concession contract."

The Ciriglianos' defenders said the vast majority of the subsidies were exhausted paying ever-higher salaries, and blamed the government for granting pay raises without increasing other train investments in inflationary Argentina. But Judge Claudio Bonadio also found the contractors practiced a "regular and growing abandonment of the primary maintenance tasks."

The interior minister, Randazzo, accused the Ciriglianos of "a lack of commitment," while acknowledging that the government's contract with them has been an embarrassment.

The court charged the two former transportation secretaries, Ricardo Jaime and Juan Pablo Sciavi, with failing to fulfill their public duties, fraud, unintentional damage of property, illicit association and rail attack. The train driver has been charged with entering the station at high speed.

All 28 defendants charged in connection to the accident are banned from leaving the country and cannot be away from their residences for more than 24 hours.

The Ciriglianos' company blamed the driver for the accident; he said the brakes had failed. A recent poll by the firm CK Consultores found that 46 percent of Argentines believe the federal government was ultimately responsible.

A year later, the crash remains a potent political threat for Fernandez, particularly since the Sarmiento line serves hundreds of thousands of people in the working-class neighborhoods that are key to her political base. Families plan a series of memorials on Friday, including a mass protest outside the presidential palace.

Angel Cerricio, who lost his son Matias and daughter-in-law Natalia in the crash, said he's ready for action, and not more promises of new Chinese-made train cars and other fixes.

"When someone promises something and they don't comply, that to me is a lie," Cerricio said. "I am tired of these lies from the president."

___

Associated Press writer Debora Rey contributed to this report.


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