Obama, Harper stay apart on pipeline issue, ink other agreements
Washington, D.C., United States (AHN) – The visiting Canadian leader and the American president on Wednesday remained noncommittal on a controversial oil pipeline linking the two countries but signed a border deal.
Addressing a joint press conference at the White House, with Canada’s Prime Minister Stephen Harper, U.S. President Barack Obama said, “With respect to the politics, look, this is a big project with big consequences.”
Asking for a assessment for environmental impact, Obama said, “We’ve seen Democrats and Republicans express concerns about it. And it is my job as president of the United States to make sure that a process is followed that examines all the options.”
Harper, on the other hand refused to be drawn into any controversy saying, “You can appreciate that I would not comment on the domestic politics of this issue or any other issue here in the United States.”
Harper added that Obama had an “open mind” on the project, but wanted a full assessment carried out. “He’s indicated to me, as he’s indicated to you today, that he is following a proper (process) to eventually take that decision here in the United States, and that he has an open mind in regards to what the final decision may or may not be,” Canadian leader said about the 1,600-mile pipeline that would run from Canada to the Texas coast.
“My position, the position of the government of Canada on this issue, is very well known,” said Harper, hinting at his backing for the Keystone XL plan, which is projected to create jobs in the U.S. and in Canada and to enable oil from the Canadian province of Alberta to reach the world market.
The two leaders announced signing of a trade deal and perimeter security agreement, which would allow easier access to ports and increase harmonization of security checks and procedures at land borders.
“Together, they represent the most significant steps forward in Canada-U.S. cooperation since the North American Free Trade Agreement,” Harper said.
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U.S. signs antitrust cooperation agreement with Chile
Washington, DC, United States (AHN) – The United States on Thursday signed a cooperation agreement with Chile to enable antitrust agencies in the two countries to improve their law enforcement relationships.
“Chile has one of the most advanced antitrust systems in Latin America,” said FTC Chairman Jon Leibowitz in a statement after the signature ceremony, adding, “They are natural partners for us, and I’m pleased that we can formalize and strengthen the great relationship we have with them.”
Leibowitz signed the agreement with Felipe Irarrázabal, Chile’s national economic prosecutor. Christine Varney, assistant attorney general in charge of the U.S. Department of Justice’s antitrust division also signed on behalf of the department.
“This new agreement is a significant step in developing a close relationship between the antitrust agencies of the United States and Chile. It is an important tool that will be used to protect consumers in both countries,” said Varney.
She said provisions in the agreement “provide a sound basis for enhanced cooperation on a day-to-day basis, while minimizing possible conflicts between the two nations’ antitrust enforcement activities.”
“We look forward to working more closely with our Chilean colleagues at a time when sound antitrust enforcement is a high priority in both the United States and Chile,” Varney added.
U.S. antitrust agencies already have similar agreements with Brazil, Canada, the European Union, Israel, Japan and Mexico.
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U.S. signs antitrust cooperation agreement with Chile
Washington, DC, United States (AHN) – The United States on Thursday signed a cooperation agreement with Chile to enable antitrust agencies in the two countries to improve their law enforcement relationships.
“Chile has one of the most advanced antitrust systems in Latin America,” said FTC Chairman Jon Leibowitz in a statement after the signature ceremony, adding, “They are natural partners for us, and I’m pleased that we can formalize and strengthen the great relationship we have with them.”
Leibowitz signed the agreement with Felipe Irarrázabal, Chile’s national economic prosecutor. Christine Varney, assistant attorney general in charge of the U.S. Department of Justice’s antitrust division also signed on behalf of the department.
“This new agreement is a significant step in developing a close relationship between the antitrust agencies of the United States and Chile. It is an important tool that will be used to protect consumers in both countries,” said Varney.
She said provisions in the agreement “provide a sound basis for enhanced cooperation on a day-to-day basis, while minimizing possible conflicts between the two nations’ antitrust enforcement activities.”
“We look forward to working more closely with our Chilean colleagues at a time when sound antitrust enforcement is a high priority in both the United States and Chile,” Varney added.
U.S. antitrust agencies already have similar agreements with Brazil, Canada, the European Union, Israel, Japan and Mexico.
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Disney Princess Plastic Trikes Recalled by Kiddieland Due to Laceration Hazard
Washington, DC, United States (AHN) – The U.S. Consumer Product Safety Commission and Health Canada, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed. It is illegal to resell or attempt to resell a recalled consumer product.
Name of Product: Disney Princess Plastic Racing Trikes
Units: About 9,000 in the U.S. and 700 in Canada
Manufacturer: Kiddieland Toys Limited, of Scituate, Mass.
Hazard: The plastic castle display and the princess figures protruding from the top of the handle bar pose a laceration hazard if a child falls on it.
Incidents/Injuries: CPSC and Kiddieland have received three reports of children suffering facial lacerations.
Description: This recall involves the Disney Princess Plastic Racing Trikes. The trikes are pink and fuchsia with a purple seat and wheels. On top of the handlebar, there is a rotating castle display surrounded by three princess figures. “Disney Princess” is printed on the label in front of the trike just below the handlebar.
Sold at: Target, JCPenney, Meijer and H.E.B. stores nationwide and on the Web at www.target.com from January 2009 through April 2011 for about $50.
Manufactured in: China
Remedy: Consumers should immediately take the trikes away from children and contact Kiddieland for a free replacement handlebar with an enclosed rotating display.
Consumer Contact: For additional information, contact Kiddieland at (800) 430-5307 anytime, or visit the firm’s website at www.kiddieland.com.hk
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Quinn, Leader of Manitoba, Canada, Sign Agreement
Illinois Gov. Pat Quinn and the premier of Manitoba, Canada, have signed an agreement to work together on trade and commerce opportunities.
Quinn and Premier Greg Selinger signed the memorandum of understanding Saturday in Chicago.
The agreement means the two governments will work together to increase collaboration in industries including manufacturing, renewable energy and information technologies.
They’ll also work together on trade and tourism opportunities.
Quinn’s office says Illinois delivered about $14.7 billion in exports to Canada last year, making it the state’s largest trading partner.
Illinois’ exports to Manitoba were $1.3 billion last year and included construction machinery and agricultural implements.
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Rattles Recalled by Rhino Toys Due to Choking Hazard
Santa Cruz, CA, United States (AHN) – The U.S. Consumer Product Safety Commission and Health Canada, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed. It is illegal to resell or attempt to resell a recalled consumer product.
Name of Product: OBall Links & Mini Rattles™
Units: About 14,000 in the United States and 14,000 in Canada
Importer: Rhino Toys Inc., of Santa Cruz, Calif.
Hazard: The hard plastic C-links on both ends of the rattles’ soft plastic chain can break, posing a choking hazard to young children.
Incidents/Injuries: Rhino Toys has received one report of a broken C-link. No injuries have been reported.
Description: This recall involves infant rattles called OBall Links & Mini Rattles™. The soft plastic OBall is 2 1/2 inches in diameter and has beads inside a small plastic bubble that make the rattle sound. The OBall is attached to a 7 1/2 inch soft plastic chain by C-shaped plastic links on both ends. “OBall” is stamped into the top of the plastic chain.
Sold at: Toys R Us and other specialty toy stores nationwide from April 2010 through December 2010 for about $8.
Manufactured in: China
Remedy: Consumers should immediately take the recalled rattle away from children and contact Rhino Toys to receive a full refund.
Consumer Contact: For additional information, contact Rhino Toys toll-free at (888) 250-9969 between 9 a.m. and 3 p.m. PT Monday through Friday or visit the firm’s website at www.rhinotoys.com
Note: Health Canada’s press release is available at http://cpsr-rspc.hc-sc.gc.ca/PR-RP/recall-retrait-eng.jsp?re_id=1288
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IMF: Libya has $110 billion in foreign reserves
Tripoli, Libya (AHN) – Despite the freezing of Libyan assets by at least three western nations, the strife-torn nation has enough in its war chest to fund operations. According to the International Monetary Fund, the Central Bank of Libya holds at least $110 billion in foreign reserves.
The IMF cautioned it is unclear how much money is held by the central bank and on foreign shores. The Libyan government and strongman Muammar Gaddafi have extensive global holdings ranging from a Hollywood production company to an Italian soccer team and London property.
The U.S. has frozen $30 billion in Libyan assets, Canada $2.3 billion and the U. another $30 billion in a global bid to pressure Gaddafi to step down after 42 years of ruling Libya with an iron fist.
Despite the freeze, the IMF estimates Libya’s $110 billion international reserves are sufficient to cover the country’s imports for three years.
Because of the ongoing civil unrest in Libya, oil production dropped between 800,000 to 1.2 million barrels daily over the past two weeks to just 120,000 barrels a day, further crimping the flow of dollars to Libya. According to ENI, the Italian oil company that produces about one-third of Libya’s petroleum, the 120,000 barrels produced daily is not sold but stored.
The ongoing political strife in Libya is expected to last longer following Gaddafi’s pronouncement that he would fight the rebellion to the last man and woman. To show he meant business, the dictator launched a major ground and air assault on eastern Libya, which is held by the opposition.
The towns of Brega and Ajdabiya were the targets of fighter jet air strikes, even as Libyan ground forces battled rebels with heavy artillery fire. The air and ground attacks prompted the rebel leaders in Benghazi to appeal for international military intervention.
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Facebook changes relationship status options to include civil unions, domestic partnership
Palo Alto, CA, United States (AHN) – Facebook has added “Civil Unions” and “Domestic Partnerships” to its relationship status options. The move on Thursday gives gay and lesbian couples the option to declare themselves “in a civil union” or “domestic partnership,” and is viewed as a victory for same-sex couples.
According to Facebook, “this has been a highly requested feature from users. We want to provide options for people to genuinely and authentically reflect their relationships on Facebook.”
Effective immediately, Facebook users in the U.S. can choose relationship options of single “In a relationship,” engaged, married, “It’s complicated,” “In an open relationship,” widowed, separated and divorced.
“Today, Facebook sent a clear message in support of gay and lesbian and couples to users across the globe,” said Jarrett Barrios, president of the Gay and Lesbian Alliance against Defamation. “As public support for marriage equality continues to grow, we will continue to work for the day when all couples have the opportunity to marry and have their relationship recognized by their community, both online and off.”
According to Barrios, GLAAD was involved in the efforts to add the status option.
The rollout of the new options is slated to next be unveiled in Canada, United Kingdom, France and Australia followed by countries where same sex marriages are legal and recognized.
Facebook has over 600 million users.
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NYSE Euronext, Deutsche Borse mull merger
New York, NY, United States (AHN) – The New York Stock Exchange Euronext and Deutsche Borse announced Wednesday that the two bourses are in discussions for a merger. The disclosure came a day after a similar announcement that surprised the global business community was made by the London Stock Exchange and Canada’s TMX Group.
The planned NYSE-Deutsche Borse merger would result to the creation of the world’s largest stock exchange with a combined value of $25.7 billion. Deutsche Borse has an estimated value of $15.6 billion (EUR 11.4 billion), while NYSE’s value is placed at $10.1 billion.
The earlier announced LSE-TMX merger has a lower combined value of $6.86 billion.
NYSE and Deutsche Borse together account for 28 percent of the global stock market value.
With the corporate marriage, NYSE Euronext Chief Executive Officer Duncan Niederauer will keep his post as CEO, while Deutsche Borse Chief Executive Officer Reto Francioni will become the chairman of the merged bourses.
The Frankfurt-based stock exchange is expected to own 60 percent of the merged stock exchange. However, there would be equal seats on the executive committee and the headquarters will be both in New York and Frankfurt.
The corporate merger will unite equity and derivatives platform from the U.S. and Europe. But it would be subject to approval by regulatory agencies in both countries and could face objections from antitrust authorities over lack of competition in fees charged to conduct transactions.
The boards of the two bourses are planning to meet soon to vote on the merger. This is Deutsche Borse’s third attempt to buy-in NYSE Euronext. The German exchange operator initiated a study on the buy-out in 2008 and held a second round of talks with NYSE officials in 2009.
Deutsche Borse previously eyed a merge with the LSE, which was also the target of Nasdaq, Euronext and Macquarie Group.
The shares of both bourses went up following the announcement. NYSE Euronext stocks grew 14 percent to $38 at 4 p.m. in New York, while Deutsche Borse went up 1.7 percent to $80.13 (EUR 58.44).
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Flaherty assures Canadians of balanced books by 2015
Vaughn, Ontario, Canada (AHN) – Finance Minister Jim Flaherty assured Canadians that the federal government will have a balanced budget by 2015. He based his bold forecast on Ottawa’s two-year $60-billion stimulus program.
Flaherty said that the removal of the deficit within the next four years will happen as a result of the Economic Action Plan that will create 222,000 jobs brought about by tax reduction, unemployment benefits, infrastructure spending and industry support.
He said the new employment prospects will be spread in utilities with 5,000 jobs, construction 53,000, manufacturing 37,000 and service sector 127,000.
Flaherty stressed that the optimism for a balanced budget is not the result of just a bright outlook and hope, but supported by prudent policies made in the past and fiscal discipline.
The finance minister was, however, questioned by former Finance officials Scott Clark and Peter DeVries, who maintained Flaherty’s goal is difficult to attain because of Ottawa’s permanent structural deficit. Their basis is an International Monetary Fund report that Canada will have a small structural deficit equivalent to 0.2 percent of the country’s gross domestic product in 2015.
Canada’s eyes are on the budget as the minority-led Conservative government tries to convince MPs to support the federal budget. Opposition groups are hinting of a March election if the Tories fail to have Parliament pass the budget.
However, despite the budget deficit problems and the opposition’s portrayal of the current administration as inept, polls show the majority of Canadians would still prefer a Tory minority government than a coalition government. The survey said 55 percent of voters want a Conservative majority over 45 percent who prefer a coalition between the Liberals and the New Democratic Party.
The pollsters attributed the survey results to Canadians’ bad experience with coalitions.
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