India captain Virat Kohli has heaped praise on his young teammate Kedar Jadhav for his “outstanding” knock of 76-ball 120 in the first ODI against England, describing it as one of the best calculative innings he had seen. (Match Highlights)Kohli (122 off 105 balls) and Jadhav, whose 120 was his career-best, smashed superlative hundreds to help India chase down the stiff target of 351 for a three-wicket win in the first of the three-match ODI series in Pune on Sunday.”One word for it is outstanding. He (Jadhav) put a lot of pressure into the spinners. It was one of the best calculative innings I have seen, 150 strike rate was outstanding. Some of the shots he played, he told it was instinctive. I could not believe,” Kohli said at the post-match press conference. (Kohli breaks Tendulkar’s record for most hundreds in successful chases)Kohli and Jadhav rattled up a sensational 200-run partnership for the fifth wicket to set up the platform for the win. Jadhav struck 12 fours and four sixes in his aggressive innings of over 150 strike rate.”Just to have another guy who is willing to do from any situation, to keep pushing, knew how exactly to bat on this pitch which was even better to bat on in the second innings. His shots were all clean, not slogs, and that’s way to bat at number 6. Was glad I was out there with him,” Kohli said. (Kedar Jadhav sends man-of-the-match trophy home for family to savour)Kohli, for whom it was his first day in office as India captain in all three formats of the game, said Jadhav was disheartened that he could not get the team past the victory line against New Zealand in the previous ODI series.advertisement”He was disheartened versus New Zealand that he could not get the team across the line. I told him there was no point thinking what you could have done and told him to keep pushing hard,” said Kohli.Asked how he and Jadhav tackled what looked like a hopeless situation with four top batsmen back in the hut for a mere 63 runs in the 12th over, Kohli said they decided to counter-punch their way.”We spoke about how to tackle that situation and decided it the best way was counterattack. No wickets had been lost to good balls, we committed errors and the wicket was better to bat in the second innings. The ball travels very very far. We could hit sixes to put pressure on the opposition. It’s one of the best partnerships I have been part of. We have chased 350 before but not from 63/4,” said the captain.”We believed in the Test series we could win from any situation. This was the same. (Jadhav played better than Kohli in Pune: Ganguly to India Today)”I can recall many moments when I felt I did not do this, don’t know how it got executed. If you are focused on the goal, the target you want to achieve, and you are looking at the team’s interest all the time, you end up playing shots you don’t believe you are capable of achieving. Once you got the momentum you can pull off shots which you won’t believe. It’s just one of those things with all international batsmen,” he added.He said the amazing victory, only the third time India had chased down 350-plus successfully, will have a huge bearing in the rest of the series and for the upcoming Champions Trophy in England where his team will be the defending champions.”We don’t have time. The way the whole team responded under pressure, builds the confidence for the next game, then next game and on to England,” he said. (Dus Guna Lagaan Vasool: Virender Sehwag after India trump England’s 350)Kohli said the team had options in the middle order with another talented player Manish Pandey in it. “Manish has batted at 4 or 5, Kedar at 6. Manish is (also) part of our scheme of things. It’s difficult to find people with that kind of talent, both Manish and Kedar are talented. Both are good enough to play at 4-5-6.”We have to figure out the best combination in the team. You cannot go with all youth. It is the balance you have to maintain and give youngsters chance when it is time,” he concluded.
Man City management make January market decisionby Paul Vegas10 months agoSend to a friendShare the loveManchester City are willing to go through January without adding to Pep Guardiola’s squad.Last season’s champions City have fallen behind the Reds in this season’s title race after losing two games on the bounce against Crystal Palace and Leicester City respectively.But The Times says City have no plans to enter the transfer market when it opens next week.Both Guardiola and the Citizens board believe they can catch Liverpool and retain their Premier League crown. TagsTransfersAbout the authorPaul VegasShare the loveHave your say
Chelsea striker Alvaro Morata has reached an agreement to join Atletico Madrid on loan for the rest of the season, but the Spanish giants now must raise funds before completing the deal.Goal understands Atletico have reached an agreement that would see them pay €3 million (£2.6m/$3.4m) to bring in Morata for the remainder of the campaign, with the option to pay a further €40m (£35.2m/$45.6m) to buy the Spain international at the end of the season.Atletico are still in negotiations with Chelsea regarding the percentage of Morata’s wages they will pay, with the Liga outfit hopeful of only forking out for 50% of his £120,000 per week salary before entering talks regarding a reduced contract with the player should he make the move permanent. Article continues below Editors’ Picks ‘There is no creativity’ – Can Solskjaer get Man Utd scoring freely again? ‘Everyone legged it on to the pitch!’ – How Foden went from Man City superfan to future superstar Emery out of jail – for now – as brilliant Pepe papers over Arsenal’s cracks What is Manchester United’s ownership situation and how would Kevin Glazer’s sale of shares affect the club? Atleti, however, are not currently in a position to sign off on the deal with Chelsea as they try to offload two summer signings of their own in a bid to clear space on their wage bill .Forward Nikola Kalinic arrived from AC Milan in the summer but has struggled to adapt to Diego Simeone’s style of play, scoring just four goals in 18 matches.The Rojiblancos are also trying to sell winger Gelson Martins, who signed a six-year deal after joining on a free transfer from Sporting having cancelled his contract with the Portuguese giants.The hold-up in offloading Morata is having an effect on Chelsea’s signing of Gonzalo Higuain from AC Milan, which is effectively complete.Chelsea are keen to get Morata off their wage bill before bringing in Higuain, while Milan themselves must find a replacement for the Argentina international, with Genoa’s Krzysztof Piatek their primary target and likely to cost around €40m (£35.2m/$45.6m).Higuain has an arrangement to join Chelsea on a six-month loan which can either be extended for a further year or turned into a permanent move in the summer, though that would lead to fresh contract negotiations for the 31-year-old.The former Real Madrid forward will reunite with Blues boss Maurizio Sarri, who worked with Higuain at Napoli and played a key role in the striker matching the record for the most goals in a single Serie A season with 36 in 2015-16.Higuain and Morata are not the only strikers with Chelsea links on the move in January, with Michy Batshuayi’s departure from Stamford Bridge adding further complications to a busy month in west London.With his loan spell at Valencia having been cut short, Chelsea are hopeful of being able to sell the 25-year-old for around €45m (£40m/$51.3m).This has stalled Batshuayi’s agreed loan move to Monaco , and with the Ligue 1 strugglers now looking into the possibility of signing Kalinic, the Belgium international’s reunion with Thierry Henry could now be off.Everton have also shown an interest in the ex-Borussia Dortmund and Marseille forward but their valuation falls well short of what Chelsea are looking for. He could yet be used as part of the deal to sign Higuain if Milan struggle to find a viable replacement elsewhere while Crystal Palace are also reportedly keen.Meanwhile, Chelsea are also in talks with Zenit’s Leandro Paredes over a move for around €30m (£27m/$34m), though the Russian club value him at €40m (£36m/$46m).There is hope that Chelsea can complete all their January business ahead of the second leg of their Carabao Cup semi-final against Tottenham next Thursday, but their match with Arsenal in the Premier League on Saturday is set to come too soon for the likes of Higuain.Additional reporting from Ruben Uria and Romeo Agresti.
Chip Kelly. Chip Kelly back to college? It is going to happen after this season, according to one NFL reporter.According to CBS Sports’ Jason LaCanfora, multiple NFL coaches expect Kelly to return to his college roots at the conclusion of the season. Kelly’s San Francisco 49ers are 1-5 and going nowhere, with the headlines surrounding Colin Kaepernick’s protest being far more noteworthy than anything the team has done on the field.Kelly’s offense continues to be ridiculed by his peers in the NFL, and several coaches I spoke to expect him to hit the eject seat button after this season and return to college before his stock continues to drop given the horrible roster he has in San Francisco.“He just keeps running the same shit and it isn’t fooling anybody,” one NFL executive said. “Do you think they could bring him back to Oregon?”Given Kelly’s level of success in college–and his struggles at the professional level–the rumors of him moving down a level have never really gone away. But this off-season, they could be particularly strong.At least one blue-blood program (LSU) has a vacancy, and some other big-time jobs (Texas, USC) could also open up. That’s just the tip of the iceberg too. There would be a litany of programs lining up for Kelly’s services if he leaves San Fran.
The Best Blended Scotch Whiskies to Add to Your Collection Editors’ Recommendations What is Bourbon? A Brief History of America’s Whiskey The Best Wheated Bourbon Alternatives to Pappy The Best Bottles of Whiskey You Can Buy For $20 or Less While some kids dream of making it to the majors and hitting that series-winning homerun with a full count in the bottom of the ninth of Game 7, some others—the ones that follow George Bernard Shaw’s line of thinking that whiskey is liquid sunshine—dream of other things. Greater things, you might say, like working with whiskey. Now, thanks to Timber Creek Distillery’s bourbon blending kit, you get to do just that.Timber Creek, located on the Florida panhandle about an hour north of Destin, recently introduced the world’s first bourbon blending kit. The special edition bourbon blending kit comes with four 100-percent single grain whiskies (corn, wheat, black rye, and barley whiskies) for you to work with in an attempt to become like some of the great Master Blenders of the whisk(e)y world. Each whiskey is 100-Proof and they come in a 750ml bottle (corn) and 375ml bottles (wheat, black rye, and barley).“We thought this would be a very unique thing we could bring to market for all of the bourbon fanatics and it’s something that has never been done, so we thought that was cool as well,” President of Timber Creek Camden Ford said.The kit also comes with a graduated blending beaker, a stir rod, a graduated pipette (for exact measurements), a bourbon blending guide, and examples of not only Timber Creek’s bourbon mash bill, but other popular bourbon mash bills for you to experiment with in order to find your favorite bourbon.“What our kit gives you the ability to do is to taste the different flavor profile of each individual grain and see how each grain contributes to the overall flavor of the bourbon. Corn is sweet, but generic. Wheat is dry. Rye is spicy, and barley really rounds out the whole flavor. By blending different combinations of these grains you really get a sense of which type of Bourbons you like and why. It puts a lot of control back in the hands of the consumer to determine their favorite blend,” Ford said.Basically, if you’ve ever gone to a distillery and thought, “Hey, I could do that” or “I wish I could be the guy doing that,” now is your chance.The bourbon blending kit retails for $239.99 and can be purchased here. In addition to the bourbon blending kit, Timber Creek also makes a vodka, four types of rum (clear, dark, coffee, and apple pie), two bourbons, and a rye whiskey made from Florida 401 black rye—a grain only grown in the Sunshine State. The Absolute Best Rye Whiskey Brands for Under $50
Image Courtesy: VroonIn today’s spotted we present you Gudali Express, the seventh and last from the batch of livestock carriers built by COSCO for Dutch shipping company Vroon which was launched today at Chinese Cosco Guangdong Shipyard. The carrier features a length of 134.8 m and a breadth of 19.6 meters.Six newbuilding livestock carriers have already been delivered to the company by COSCO. The first two vessels were built in 2013, the other two in 2014, and the remaining two in 2016.Vroon says the vessels incorporate specific bow design ensuring comfort for cargo and crew while maintaining high speeds.The vessels have a cargo capacity of approximately 4,600 m2, with a cruising range of around 18,000 NM.Gudali Express is scheduled for delivery to Vroon later in the year.
A new interpretative centre at Shubenacadie Provincial Wildlife Park will solidify Nova Scotia’s status as one of the best places in Canada for bird-watching. Plans for the Ducks Unlimited Greenwing Legacy Project, a 5,000-square-foot interpretative centre at the Shubenacadie Provincial Wildlife Park in Colchester County, were announced today, Aug. 10, by the Atlantic Canada Opportunities Agency (ACOA), the province of Nova Scotia, and Ducks Unlimited Canada. The centre will feature interactive displays, hands-on wetlands exhibits, and classrooms that provide a particular focus on conservation education for children. and provide a particular focus on conservation education for children It will serve as a base for existing recreational activities in the area such as birding, adventure hiking, and cross-country skiing. Wheelchair accessible nature trails, bridges and boardwalks will lead visitors to wildlife observation areas at a series of demonstration wetlands near the centre. “It is vital that we increase public awareness and understanding of the benefits that wetland ecosystems provide to the environment and to the health and enjoyment of people,” said Jamie Fortune, director of regional operations, Ducks Unlimited Canada. ” We are also very pleased with the project’s emphasis on conservation education for young people. The Greenwing Legacy Project will be very much a natural heritage legacy for the conservationists of tomorrow.” The $900,000 in capital costs will be funded equally by the federal and provincial governments and Ducks Unlimited Canada. The Office of Economic Development and the Department of Tourism, Culture and Heritage will provide the province’s $300,000 contribution. The provincial Department of Natural Resources will provide the lease for the land as well as ongoing operational support. This will include maintenance costs of the interpretative centre, associated trails and walkways and staffing costs (about $60,000 annually for 20 years). “This project represents an incredible opportunity to expand and enhance one of our most popular parks for the people of Nova Scotia and to further promote the importance of Nova Scotia’s wetlands,” said Richard Hurlburt, Minister of Natural Resources. “The centre will also help to attract more visitors to the province by extending our tourism season with such growing North American pursuits as birding.” “Nova Scotia is located on the spring and fall migration route, known as the Atlantic flyway,” said Scott Brison, Minister of Public Works and Government Services, speaking on behalf of Joseph McGuire, Minister of ACOA. “The Greenwing Legacy Project will help to attract tourists to Shubenacadie during the spring and fall shoulder seasons and provide residents and visitors with a unique opportunity to increase understanding of the need for habitat conservation.” Ducks Unlimited Canada, the nation’s premier wetland conservation organization, has been conserving, restoring and managing wetlands and associated habitats since 1938. The company has conserved more than 100,000 acres in Atlantic Canada and its work in designing and developing education programs and activities for youth is award winning. The Shubenacadie Provincial Wildlife Park attracts more than 90,000 visitors annually. It has a 50-year history with two-thirds of Nova Scotia’s population having visited the park. The new interpretive centre is expected to be compete in June 2006.
GREENVILLE, Maine – Police in Maine say three people have died after a small plane that departed from Pembroke, Ont., and was headed for Prince Edward Island crashed near a small airport.State police say the crash happened at about 11 a.m. on Monday near Greenville Municipal Airport.Police did not immediately release the names of the people killed in the crash.A spokesman for the FAA says the small, twin-engine plane crashed on approach to the airport.Greenville is about 240 kilometres north of Portland.
VATICAN CITY — A Canadian priest who has worked closely with Pope Francis is among the 13 new cardinals added to the Catholic hierarchy on Saturday.The Canadian Conference of Catholic Bishops says Cardinal Michael Czerny was born in the former Czechoslovakia in 1946 and came to Canada with his family at the age of two.Czerny has worked since 2010 in the Vatican’s justice office, where he helped draft Francis’s major environmental encyclical.In 2016, Francis made Czerny his personal point man on migrant issues, and the pectoral cross he sported Saturday showed he took the mission to heart as it was made of wood from a migrant ship.Czerny is a Jesuit like the Pope, and went to El Salvador in 1989 after six Jesuit confreres were gunned down at Central American University.For a South American Jesuit like Francis, the killings were an unfathomable assault that laid bare the order’s social justice ethos — the same ethos that years later would inform his papacy.Because Czerny is not yet 80, he’ll be eligible to vote in a conclave, increasing the likelihood that a future pope might look a lot like the current one.With Saturday’s consistory, Francis will have named 52 per cent of the voting-age cardinals.This report by The Canadian Press was first published Oct. 5, 2019.The Canadian Press
Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (15,983.32, up 23.82 points)Neovasc Inc. (TSX:NVC). Medical devices. Down 1.5 cents, or 23.08 per cent, to five cents on 12.6 million shares.ECN Capital Corp. (TSX:ECN). Financial Services. Up 10 cents, or 2.91 per cent, to $3.54 on 7.1 million shares.Enbridge Inc. (TSX:ENB). Oil and gas. Up 89 cents, or 2.11 per cent, to $43.14 on 6.5 million shares.MEG Energy Corp. (TSX:MEG). Oil and gas. Up 46 cents, or 5.64 per cent, to $8.61 on 4.9 million shares.Baytex Energy Corp. (TSX:BTE). Oil and gas. Down eight cents, or 1.34 per cent, to $5.89 on 4.59 million shares.Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Down three cents, or 0.72 per cent, to $4.14 on 4.57 million shares.Companies reporting major news:WestJet Airlines Ltd. (TSX:WJA). Airline. Up 39 cents, or 1.99 per cent, to $19.98 on 455,951 shares. The Calgary-based airliner is promising to provide full refunds if flights are cancelled because of a possible pilots strike. In response to passenger tweets expressing anxiety about their upcoming vacations, WestJet says it understands the concerns.
Rabat – A train derailed Friday morning in Casablanca, damaging most of its compartments. No passengers were on board.A video shows smashed and overturned compartments of the train which derailed at around 8 a.m. while heading to Casa-Port station, resulting in delays.The eyewitness who recorded the video pointed out that “luckily passengers were not onboard.” The National Railway Office (ONCF) has not published details about the cause of the derailment but wrote on its Twitter page that two empty compartments had collided during testing.pic.twitter.com/IbSv5VgdXR— ONCF (@ONCFgroup) January 4, 2019The derailment is reminiscent of a deadly train accident in Morocco three months ago.In October, a regular ONCF train derailed near Bouknadel between Rabat and Kenitra, killing seven people and injuring as many as 125.Read Also: Morocco’s LGV Train Hits, Kills Suicidal Man Near Tangier
NEW YORK — U.S. stocks moved sharply lower Monday on Wall Street and extended the market’s slide into a second week as investors seek shelter from an escalating trade war between the U.S. and China.The world’s largest economies had seemed on track to resolve the ongoing trade dispute that was cutting into consumers’ wallets and corporate balance sheets. Investor confidence that the two sides were close to a resolution have helped push the market to its best yearly start in decades.Those hopes are now being dashed and replaced by concerns that the trade war could stunt what has already been slow and fragile economic growth. Analysts have warned that the deterioration in relations and the potential for the worst-case scenario of failed trade talks will put a dent in the U.S. and China’s economic prospects.The Dow Jones Industrial Average dove 584 points, or 2.2%, to 25,361 as of 10 a.m. Boeing and Apple did the most to pull the index lower. Both companies get a significant amount of revenue from China and stand to lose heavily if the trade war drags on.The broader S&P 500 index fell 2.3%. The benchmark index is coming off its worst week since December, but is still up sharply for the year. The technology heavy Nasdaq fell 3%.Technology stocks are bearing the heaviest losses. Apple fell 5.7% and Cisco fell 3.6%. Chipmakers and other technology companies have warned that uncertainty over the trade war’s outcome is prompting a slowdown in orders.Bank stocks also fell sharply. Bank of America shed 3.5% and JPMorgan Chase fell 2.7%.Safe-play holdings were the only winners as traders sought to reduce their exposure to risk. Utilities were the only sector to rise on the stock market, and prices for U.S. government bonds, which are considered ultra-safe investments, rose sharply, sending yields lower. The yield on the 10-year Treasury fell to 2.40% from 2.45% late Friday.Overseas markets also fell. European indexes were down a bit more than 1%. In Asia, the Shanghai Composite index fell 1.2%. Japan’s Nikkei 225 index gave up 0.7% and South Korea’s Kospi fell 1.4%.Trade talks between the U.S. and China concluded Friday with no agreement and with the U.S. increasing import tariffs on $200 billion of Chinese goods to 25% from 10%. Officials also said they were preparing to expand tariffs to cover another $300 billion of goods.China on Monday announced tariff increases on $60 billion of US imports.Analysts have said investors should prepare for a more volatile stock market while the trade dispute deepens. Many are still confident that both sides will eventually reach a deal.“Since we see a trade accord being reached in the not-too-distant future, we don’t expect the market to endure more than a short-lived spate of indigestion,” said Sam Stovall, chief investment strategist at CFRA.The deteriorating trade negotiations follow what has been a mostly calm period of trading where solid economic data and corporate earnings helped push the market steadily higher. The S&P 500 is still up 12.5% of the year with technology stocks blowing away rest of the market with 19% gains.Damian J. Troise, The Associated Press
NEW YORK — The latest on developments in financial markets (all times local):9:35 a.m.Stocks are getting off to a mostly higher start on Wall Street as the market comes off two weeks of gains.Internet companies and retailers were up more than other sectors in early trading Monday. Facebook added 2% and CarMax rose 1.6%Several companies were making big moves on deal news.Array BioPharma jumped 58% after agreeing to be bought by Pfizer, and auction house Sotheby’s soared 57% after announcing a deal to be acquired by Patrick Drahi, a business executive and art collector.The S&P 500 index rose 2 points, or 0.1%, to 2,888.The Dow Jones Industrial Average slipped 21 points, or 0.1%, to 26,069. The Nasdaq rose 29 points, or 0.4%, to 7,826.The Associated Press
Judge Cassese, who died on Friday, “has always been at the forefront of international criminal justice,” International Criminal Court (ICC) President Sang-Hyun Song said in a statement. “All of us who work in the field of international criminal law shall remain greatly indebted to him.”The president of UN-backed Special Court for Sierra Leone (SCSL), Jon M. Kamanda, recalled Judge Cassese’s work as an independent expert looking at the challenges faced by that court, including the need to prepare a completion strategy. “Other tribunals will also build on Judge Cassese’s legacy as they too complete their work,” he said.On Saturday Secretary-General Ban Ki-moon praised the judge as “a giant of international law” and a loyal friend to the UN. 24 October 2011Tributes continued to flow in today for Judge Antonio Cassese, first president of both the United Nations war crimes tribunal for the Balkan wars of the 1990s and the UN-backed special court created to try the suspects in the murder of former Lebanese prime minister Rafiq Hariri.
4 January 2012The United Nations envoy to Iraq today voiced concern as he met with senior officials in the country’s Kurdistan region over Iraq’s continued political stalemate and rising sectarian tensions. In a statement released after his meeting with Iraqi President Jalal Talabani in the city of Sulymaniya, the Secretary-General’s Special Representative for Iraq Martin Kobler urged all political parties in Iraq “to work together in the spirit of partnership” and resolve their differences through “meaningful dialogue.”Mr. Kobler – who is head of the UN Assistance Mission for Iraq (UNAMI) – also travelled to the Kurdistan region’s capital of Erbil yesterday to meet with representatives of Iraq’s Kurds, including the President of the Kurdistan Region Masoud Barzani and the Speaker of the region’s Parliament, Kamal Kirkouki.Since last month’s completion of the withdrawal of United States troops from the country, Iraq has faced mounting political and sectarian tensions.Last month, a series of bomb blasts at various locations in Baghdad in the morning rush-hour killed more than 60 people and wounded more than 180 others. Several other attacks have been reported against Iraqi politicians and Government officials in recent weeks.Mr. Kobler’s appeal today follows that of Secretary-General Ban Ki-moon, who yesterday expressed concern about the continuing political tensions in Iraq and called on the Government “to further strengthen its democratically-elected institutions.”
TORONTO — Daily deals website Groupon says it has purchased SnapSaves, a Canadian-made couponing app that launched last year.While the details of the transaction weren’t revealed, including the price of the acquisition, it marks a sign of the growing popularity of smartphone apps in the grocery industry.SnapSaves was created by Toronto-based company Buytopia, which has a deal-of-the-day business model similar to Groupon.Shoppers can snap a picture of their grocery receipt using the app and receive money back on selected items that range from diapers and cereal to fresh produce and wine.Once the redemptions cross a threshold, the user can request a cheque in the mail for the money they’ve saved.The SnapSaves acquisition was completed on June 13, Groupon spokesman Bill Roberts said in an email on Monday.“We’re excited that SnapSaves is joining the Groupon family,” he added.SnapSaves says the deal will increase the variety of offers available, and expand its reach to Groupon’s 52 million active customers across North America.Other similar money-saving apps have been growing in popularity including Checkout 51, a startup founded in Toronto two years ago.Groupon is bulking up its mobile offerings after unveiling an app version of its website last fall. Since its debut, the app has spiked in popularity and amounted to more than half of the company’s transactions during the first quarter, the company said. Earlier this month, Groupon expanded its Freebies digital coupon feature onto smartphones in the United States.Freebies lets users access more than 30,000 digital coupons, promotions and samples at major retailers like Target, Sears, Bath & Body Works and J. Crew through Apple’s iPhone.Groupon has plans to make Freebies available outside the U.S. by the end of the year.
Sean Kilpatrick/The Canadian Press MUMBAI, India — Some of India’s biggest companies say they will invest more than $250 million in Canada, in everything from pulp mills to pharmaceuticals and the IT sector.Canadian companies, meanwhile, plan to invest $750 million in India.The news came after Prime Minister Justin Trudeau spent his third morning in India meeting six of the country’s most influential business tycoons, making deals that he says will create more than 5,800 new jobs in Canada.“This was really a win-win morning, a win-win day for all of us and I’m excited for the opportunities in the Canada-India friendship,” Trudeau said during an armchair conversation with Chanda Kochhar, CEO of the Industrial Credit and Investment Corp. of India, in front of 550 Indian business people.As Trudeau visits India, there’s much more than a few photo ops at stakeCanada’s corporate tax rates remain competitive in spite of U.S. cuts, Morneau saysTrudeau initially said the entire $1 billion was money coming into Canada but his officials later corrected that it was a two-way trade number, with one-quarter coming from India into Canada, and the rest going the other way.More than half the $750 million Canadian investment in India comes from Toronto’s Brookfield Asset Management, which is spending $480 million to buy a 1.25 million-square foot office complex in Mumbai.Another $200 million comes from Fairfax India Holdings Corp. of Canada, which acquired a 51 per cent stake in the Catholic Syrian Bank in Kerala, India.The government of Indian Prime Minister Narendra Modi has made a number of economic reforms in the last few years that have helped open the Indian economy to international investment opportunities. Kochhar said these “huge” structural reforms — including a new goods and services tax to simply the tax system, a bankruptcy court and more transparency — have had a big impact on making it easier to do business in India.The investments from India include a new operation in Canada from telecom equipment manufacturer Valiant Communications, a Canadian manufacturing facility to produce natural health products by Clarion Pharmaceutical and an Ontario operation for Vision Controls, which works on automation.Prime Minister Justin Trudeau meets with CEO of Infosys Salil Parekh in Mumbai, India on Tuesday, Feb. 20, 2018. Some of India’s biggest companies say they will invest more than $1 billion in Canada in the coming years in everything from pulp mills to pharmaceuticals and the IT sector. As well, Jubilant Life Sciences will spend $100 million to expand its existing facility in Kirkland, Que., which manufactures medical devices.Later this week, digital transformation company Tech Mahindra, will announce a new partnership with Canada’s superclusters initiative.Anand Mahindra, chairman of the Mahindra Group, said he had recently joined the Asia Business Leaders Advisory Council but he said he can’t find anything to “advise” Trudeau about other than “do more of the same.”“I think the rest of the world is learning about leadership from you,” Mahindra told Trudeau in a brief, public portion of their meeting Tuesday.“So, please continue to do what you’re doing. With good leadership, business follows and as you learn from my team we have big plans for Canada.”Kumar Birla, chairman of the Indian conglomerate Aditya Birla Group and, according to Forbes, the country’s eighth-wealthiest person, told Trudeau he finds both the federal and provincial governments in Canada to be very friendly for business.“We are very happy investors,” he said at the start of his meeting with Trudeau. “I think just the ease of doing business, the business friendliness of the Canadian government across the country I think is something that is a true delight for an investor. Someone who’s tasted that will always want to come back for more.”The Birla Group — which already owns pulp mills in Ontario and New Brunswick— has plans to expand in three areas in Canada, in fibre, carbon black and aluminum products.The investment deals are the first tangible delivery from Trudeau’s trip and come despite the fact Canada and India trade is not growing as quickly as some had hoped. In 2012, former Prime Minister Stephen Harper and the Indian government set a goal to reach $15 billion in trade between the two countries by 2015.In 2016, the latest year for which statistics are available, it was at $8.4 billion. While that was double what it was in 2010, it was far shy of the $15 billion goal.Kasi Rao, chair of the Canada-India Business Council, which hosted the Trudeau armchair chat Tuesday, said the slow growth between Canada and India comes from a lethargy on Canada’s part and a lack of knowledge of Canada within India.However, he said Canadians seem increasingly aware of the rise of Asia and India’s importance and the Canada brand in India is growing. Rao said to prove that one need only look at the fact more than 550 people signed up to attend the Tuesday discussion with Trudeau and Kochhar.“That would have been a hard sell a few years ago,” said Rao.Trudeau is also trying to push some of his domestic political priorities in India, including women’s empowerment and human rights. To that end he hosted a round table with women business leaders on Tuesday, saying he wanted hear about their experiences and challenges.
A Hamilton Police officer has been charged in connection with yesterday’s raid involving some of the most violent gangs in the GTHA. 41 yearl old Craig Ruthowsky faces four charges, including breach of trust, conspiracy to traffic cocaine and two counts relating to organized crime.He was taken into custody yesterday and is awaiting bail. It’s the second time the 17 year veteran Hamilton Police officer has faced criminal charges. “The Hamilton Police service take any and all allegations of misconduct and wrongdoing very seriously. We have been working cooperatively with the Toronto Police service assisting with this investigation. The member that faces charges with the Hamilton Police service has been suspended with pay since June of 2012. Since that time the member has had no contact with the public as a police officer.” Said Hamilton Police Inspector Dan Kinsella.Ruthowsky is suspended with pay after being charged in 2012 following a five month investigation into alleged misconduct in Hamilton’s gangs and weapons enforcement unit.At that time Ruthowsky was charged with breach of trust and obstruction of justice. Those charges were later stayed because prosecutors feared that if they had gone to trial the identity of a police informant would be revealed.Federal Prosecutors were also forced to drop charges in 50 other criminal cases Ruthowsky had been investigating because they feared his credibility would be challenged in court.Even with these latest charges Ruthowsky will continue to draw a full salary. A salary which in 2012 was posted on the annual sunshine list at 117 thousand dollars a year.
NEW YORK — President Donald Trump on Monday promised to release a detailed financial report of his personal holdings to the public before the presidential election next year, though he was vague on just what he would disclose that is new.“At some point prior to the election, I’m going to be giving out a financial report of me, and it’ll be extremely complete,” he told reporters at the White House before leaving for a campaign rally in North Carolina.It wasn’t clear from Trump’s comments how this new report might differ from financial disclosures that Trump files with the government ethics office early each year. The White House did not immediately respond to a request for details.Trump’s promise of more disclosure came amid scrutiny of Vice-President Mike Pence’s stay last week at a Trump resort in Doonbeg, Ireland, and questions about why an Air Force crew stayed at one of his properties in Scotland.Democrats are investigating taxpayer-funded government spending at Trump properties as part of its broader probe into his finances.“I’m going to give out my financial condition and you’ll be extremely shocked that the numbers are many, many times what you think,” Trump said. “I don’t need to have somebody take a room overnight at a hotel.”Trump files a lengthy report detailing his holdings with the Office of Government Ethics each year, but figures on the value of his assets, revenue taken in and how much he has borrowed are given in broad ranges. It’s also not clear from the report who may be investing alongside him in his various properties.His disclosure filed earlier this year showed he took in at least $453 million in revenue in 2018 and he owes at least $315 million to various banks.Trump broke with decades of precedent by refusing to disclose his tax return to the public before taking office. Trump handed over management responsibility of the Trump Organization to his two adult sons, but did not sell off his interest in his properties and put the proceeds into a blind trust. Several previous presidents put their holdings into a blind trust so they wouldn’t exactly know what they owned and how public policy might impact their finances.Bernard Condon, The Associated Press
One of Canada’s largest pension funds “inadvertently omitted” all of its Canadian holdings from a recent disclosure it made to the U.S. Securities and Exchange Commission, failing to include about US$2.46 billion in investments.British Columbia Investment Management Corporation made the omission in February, when it submitted its disclosures for the three months ending on Dec. 31, 2018. The pension fund, which has $145.6 billion in assets under management, failed to disclose holdings in 98 companies, primarily across Canada’s energy, banking and mining sectors. The Canadian holdings accounted for more than 20 per cent of its total disclosed investments.BCI, which manages the pensions of B.C.’s public sector workers, said it only discovered that it had omitted these investments following inquiries from the Financial Post about its disclosed holdings in Canadian energy companies, which appeared to decline to zero in the final quarter of 2018. Pension giant CPPIB is extending its private credit wager to make up for dwindling yields elsewhere Fixed-income still drives Teachers’, while future bets look to tech British and Canadian growth funds team up for first time to invest in Vancouver-based tech company “As a result of your query, we have discovered that the holdings you listed were inadvertently omitted from the filing,” BCI Director of Corporate Communication Gwen-Ann Chittenden told the Post in an email.A second look at the disclosure revealed that names BCI has consistently disclosed owning for years such as Toronto Dominion Bank, Canadian National Railway and Rogers Communications Inc. were also missing.Story continues belowThis advertisement has not loaded yet,but your article continues below.More than two weeks later, BCI corrected the errors in its Dec. 31 filing with an amendment. The errors, BCI told the Post, were a result of a “data filter” that “omitted Canadian-domiciled inter-listed securities.”BCI also corrected errors in its filings for the quarters ended March 31, 2019 and June 30, 2019 after the Post inquired about the accuracy of the values listed for its Canadian holdings in both reports. The pension fund attributed these errors to “inconsistent conversion” of currency leading to both understated and overstated values. In some cases, values were inflated by more than 35 per cent. While BCI said the number of shares it listed for each stock in the initial reports was accurate, the Post found that it disclosed owning fewer shares of Enbridge Inc. in its amendment for the June 30 quarter than in the original file.A Post analysis of BCI’s 13F filings over the past six years revealed the fund had previously restated its holdings to address similar inconsistencies. On Oct. 14, 2015, BCI filed 16 amendments to 13Fs dating back to 2010. In 10 straight quarters between March 31, 2013 June 30 2015, BCI appears to have failed to disclose its shares of dual-listed Canadian stocks bought on U.S. exchanges. In each of those quarters, shares of BCI staples TD, Suncor and Enbridge were all missing. Those errors, Chittenden said, were also the result of “inadvertent omissions.”The SEC declined to comment about the omissions and whether the pension fund would be penalized for them, something a number of experts who spoke to the Post thought was unlikely.BCI is required disclose its holdings as of the end of each quarter to the SEC because it routinely holds more than US$100 million in what the U.S. watchdog refers to as 13F securities — any equity, closed-end security or ETF that trades on a U.S. exchange. Certain convertible debt and equity options also fall under the SEC’s umbrella. Quarterly disclosures are not required in Canada, and BCI has in the past only revealed its total holdings once per year.The SEC’s definition means that funds have to report the shares they hold of dual-listed Canadian companies such as TD and Suncor Energy Inc. — but only those that were purchased on U.S. exchanges.Between March 31, 2018 and Sept. 30, 2018, BCI’s disclosures indicated that its holdings of U.S.-exchange purchased shares of Alberta-based energy companies declined by 43 to 46 per cent across the board. In that six-month span, BCI’s position in Suncor fell from 265,985 shares to 143,530 and Enbridge from 265,728 shares down to 149,734. None of these companies — or any other dual-listed company — appeared on its disclosure for the quarter ending Dec. 31.Complicating matters, BCI said that it had changed its reporting methodology for the December 2018 quarter, and that it had intended to include its total holdings of dual-listed securities, not just those that were acquired on U.S. exchanges. That shift, which Chittenden said was done as part of a “move to increase transparency and reporting based on a higher standard,” wasn’t immediately noticeable due to the omissions.The amended filing for the quarter ending on Dec. 31 2018 revealed its much larger overall holdings in the dual-listed companies. Those included 4,062,939 shares of Suncor valued at more than US$113 million, and 4,861,224 shares of Enbridge, valued at more than US$150 million.By the end of the quarter ending June 30, 2019, those positions had both declined, to 3,292,517 and 3,877,882 shares respectively.For comparison purposes, the Post asked BCI to provide its overall positions in a series of energy companies for the quarters ending in March, June and September 2018, but the pension fund did not address the request.BCI’s decision to alter its filing style is uncommon, multiple securities lawyers with knowledge of SEC regulations and 13F filings told the Post.“This is … kind of strange what they’re doing here,” said David Baum, a Washington-based lawyer at Alston & Bird LLP. “They’re effectively over-reporting.”Altering their filing format may give investors a wider scope of BCI’s portfolio, but it could also lead to other issues, Baum said, and that’s why he would generally advise a client to remain consistent with their files.How many other inadvertent omissions are there?Lawyer Edward SiedleAs for the omissions themselves, Ze’-ev Eiger, a lawyer at the firm McDermott Will and Emery, believes they were not the result of any nefarious behaviour.“It doesn’t jump out at me that they were trying to avoid reporting certain things,” Eiger said in an interview from New York City. “It seems to me it was a mistake.”Mistakes in 13F filings are not unusual, Eiger said. But it certainly helps the case of a fund in question, Baum added, when the funds themselves admit their mistakes to the SEC instead of waiting for them to be discovered.The SEC is unlikely to fine BCI or closely track their holdings, according to Edward Siedle, who used to work for the SEC’s Division of Investment Management before becoming a lawyer who forensically investigates pension funds. The last time the SEC appears to have fined a fund in relation to its 13Fs was in 2007, after Quattro Global Capital LLC failed to file its disclosures for more than three years.But Siedle said repeated compliance oversights when it comes to 13Fs can be a warning sign.“Is it the end of the world? No,” Siedle said. “But it’s a compliance oversight with respect to the most easy portion of the portfolio. How many other inadvertent omissions are there?”• Email: firstname.lastname@example.org | Twitter: