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canada inflation forecast
Canada's Inflation Report Meets Expectations
Canadian consumer prices recovered in July, rising 0.2% following June's unexpected 0.7% drop in the unadjusted index. Despite the monthly increase, the annual inflation rate fell back to 2.7% from 3.1% in June as the jump in the price level that occurred in July 2010 due to the implementation was not repeated. Core inflation, which excludes the eight most volatile items and the effect of changes in indirect taxes, also rose in July by 0.2% following June's 0.6% decline. The annual core rate* rebounded to 1.6% following June's 1.3% print.
(*July 2011 is the first month when the effect of the increase in the HST drops out of the CPI measure. To calculate the core measure, the effect of this tax hike needed to be subtracted from prices requiring an estimate of the pass through by retailers. There is always the risk of a bias entering into the year-over-year rate if too much or too little was subtracted for the past year. The 1.6% increase in core prices would be free of any such bias.)
The components of the July Inflation Report showed higher prices for electricity, traveller accommodation, some food items, and men's clothing. The rise in electricity costs and travel were expected and reflect seasonal pressures. Gasoline prices posted a modest 0.5% decline in the month. Air transportation costs were also lower as were the cost to purchase a new vehicle. The seasonally-adjusted CPI rose 0.1% following the 0.3% decline in June. The seasonally-adjusted core index rose 0.3% in July, reversing June's 0.3% decline.
Relative to a year earlier, the inflation rate eased to 2.7%. Persistent increases in gasoline prices during the year resulted in a 23.5% rise, although this was a slower pace than June's 28.5% increase. Excluding gasoline, the headline inflation rate stood at 1.7%, the slowest pace of increase since February. Food prices were 4.3% higher than a year ago. The pace of clothing and footwear price inflation, inched back up to 1.0% from 0.8% in June. Vehicle prices of were 1.0% lower than in July 2010, although the pace of decline eased from the 3.1% dip recorded in June.
The July Inflation Report confirmed that after a four-month stint of the headline rate running above the upper end of the Bank's target range, price pressures slowed to a 2.7% pace. The implementation of the HST in July 2010 is estimated to have added 0.4 percentage points to the headline rate during the past year with a similar-sized reduction embedded in today's report. We expect the headline rate to drift even lower given the declines in commodity prices that occurred in August. The July inflation data showed energy prices were running 13.0% above the levels a year earlier and food prices were up 4.3%. In August, West Texas Intermediate oil prices fell by 10.5%, suggesting that energy costs will provide less upward pressure on the headline rate going forward. The rebound in the core inflation rate in July, which the Bank uses to monitor underlying inflation pressures, is partially a reflection of overstated weakness in June being reversed and partially a reflection of the HST effect.
The as expected movements in the inflation rates are unlikely to garner much attention by financial markets with all eyes on Finance Minister Flaherty and Bank of Canada Governor Carney's testimony later this morning. Given the shift in market sentiment, surging volatility, and uncertainties regarding the end game for the European sovereign-debt crisis, today's statements are likely to focus attention on renewed downside risks to Canada's economic outlook. Recent data reports, filling in the second quarter of 2011, have disappointed and are consistent with real GDP growth of just 0.2% at an annualized rate in the quarter. To be sure, these activity levels were dampened by one-off factors that hurt auto manufacturers and the output of the oil, gas, and mining industries. A shaky showing in the second quarter and renewed jitters about the ability of Europe to stave off a sovereign debt and/or financial system crisis will be reflected in the tone of today's testimony. Our assessment is that the sharp slowing in the pace of Canadian economic growth will prove temporary as auto production bounces back in the third quarter of 2011 and resource companies come back on line after a combination of natural disasters (e.g., forest fires and flooding) and retooling cut output in the second quarter. The near-term risk to our outlook is the volatility in equity markets that resulted in the TSX losing 6.3% so far this month. If these loses are sustained and/or deepened, then the hit to net wealth and confidence raises the prospect that consumers and businesses will be hesitant about spending until the air clears. Both officials are likely to steer away from suggesting that the global economy is headed back into recession although Mr. Carney may hint that interest rates in Canada, as in other countries, will remain low for a considerable time to mitigate the downside risks.
Source:actionforex
The Millionaire Matchmaker
The 50-year-old entrepreneur is the founder and CEO of the Millionaire's Club, an organization that helps millionaires find love, and the force behind the popular "Millionaire Matchmaker" television show on Bravo.
This week, Bravo announced it was taking its relationship with Stanger to the next level by signing a two-year development deal that involves the savvy matchmaker finding new talent, creating and developing programming, and potentially starring in and executive producing a new series for the network. In addition, Stanger's wildly popular reality show, "Millionaire Matchmaker," returns Aug. 15 for its fifth season on Bravo.
While helping others find their soulmate is second nature to Stanger, creating her own company and brand took some effort. For three years, she worked nights and weekends building the foundation for the Millionaire's Club, before deciding to take the leap and quit her full-time day job as director of marketing at Great Expectations, a national dating service for singles. A third generation matchmaker, Stanger claims to have learned the ropes from her mother and grandmother who loved setting people up.
Celebrities' secret businesses
Today, Stanger boasts a successful company with 45 employees, and a television show that averages 1.9 million viewers each week. Eleven years after launching her business, she claims to have a 99% success rate among clients. With a bestselling book, "Become Your Own Matchmaker: 8 Easy Steps For Attracting Your Perfect Mate" under her belt and an easy-to-follow DVD, "Married in a Year," the relationship expert's business continues to flourish.
As she prepares to launch a new apparel line targeting singles, we asked Stanger to share her secrets for creating a love affair with consumers.
Grow your business slowly. I started the Millionaire's Club from my home in 2000 and worked on a 'pay as you go system' rather than incurring a lot of debt. I had a home office for a couple years before I leased office space, and I relied on word-of-mouth referrals from happy customers rather than launching an expensive advertising campaign. I encourage people who are contemplating starting their own business to have a healthy savings account before they quit their day job.
0:00 / 00:59 Take a risk, make a buck
Cultivate a culture of honesty. I'm very candid with my clients when I'm working to secure a match for them. I believe in being truthful about the person they are being matched with. I had one candidate who was gorgeous, but her father was in prison for tax evasion, and another who was a wonderful person but somewhat flaky. I'm always honest with my clients and I believe this is why I've never been sued.
It's so easy for people to Google (GOOG, Fortune 500) information today, that I'd rather they heard the truth from me rather than reading it online. When my own engagement ended last year, I worried it might hurt my brand, but the month I made the announcement, seven of my clients announced their engagements.
Extend your brand. In 2012, I'm releasing a line of date apparel that will be sold online. I worked for 10 years in the fashion industry for companies including Union Bay Sportswear and JouJou Jeans, and I'm excited to offer this new service.
Consumers will be able to go to the website and work with a stylist to find cost-affordable clothes that enhance their specific body type. We plan to feature signature pieces, so if you find a great top that you get compliments on, you'll be able to order the same style in different fabrics and colors.
6 celebrity chef-preneurs
Set yourself apart from the competition. My company has a very niche market. We work with millionaires, take on 10 new clients a year, and meet with each client on an individual basis, offering feedback every step of the way.
Some of our clients have spent so much time making money that they haven't developed social skills or a sense of style, so I offer image consulting, and access to therapists, and other professionals as part of our service.
Keep your social media presence real. I know some entrepreneurs who 'buy' fake Facebook fans and Twitter followers from companies, but I'm proud to say that all 140,000 of my Facebook fans are real people. I was named one of Forbes best-branded women on Twitter last year and I enjoying answering questions from fans and tweeting dating advice.
I also place a lot of emphasis on my company website since it's often my first contact with potential clients. I know other businesses who have saved money by going overseas to have their website designed, but I believe in staying local because if my domain goes down, it affects my bottom line.
Source:cnn
Search for Gadhafi intensifies as rebels show signs of strain
by Newspark | 16:22 in breaking news |
Search for Gadhafi intensifies as rebels show signs of strain
As rebel forces consolidated their control over Tripoli amid signs of disorganization within the ranks, the manhunt for Col. Moammar Gadhafi continued Monday.
Opposition leaders said their fighters had taken control of 95 percent of Tripoli, the capital, and U.S. President Barack Obama said it was clear that "the Gadhafi regime is coming to an end."
But a crucial question remained unanswered: Where is Gadhafi, who hasn't been seen in public for weeks, limiting his communications to audio messages. The last of those was Sunday, when Gadhafi, 69, urged Libyans to take up arms against the rebel "rats."
U.S. officials told NBC News that the U.S. believed Gadhafi hadn't fled the country, unlike other senior figures. U.S. intelligence agencies believe he was most likely hiding somewhere in the Tripoli area, a senior official at the Defense Department said Monday.
Rep. Mike Rogers, R-Mich., chairman of the Intelligence Committee, agreed, saying in an interview with MSNBC TV, "I believe he is in a bunker or a secure situation in Tripoli."
That would mesh with reports from the Arabic news services Al-Jazeera and Al-Arabiya that Gadhafi successfully resisted an attempt to arrest him overnight at or near Tajura Cardiac Hospital in Tripoli. Al-Arabiya reported that rumors were spreading widely that Gadhafi was in the hospital itself.
Three of Gadhafi's sons — Saif, Mohammed and, most recently, according to reports, Saadi — were captured by the rebels, but Al Jazeera reported that Mohammed Gadhafi managed to escape Monday.
NATO, meanwhile, promised to maintain its air campaign until all pro-Gadhafi forces surrendered or returned to their barracks. Al Arabiya, citing rebel sources, reported late Monday that NATO was bombing Gadhafi's main Bab al-Aziziya compound in Tripoli.
NATO warplanes have hit at least 40 targets in and around Tripoli in the last two days — the highest number on a single geographic location since the bombing started more than five months ago, the alliance said.
NATO said loyalist forces responded Monday by firing three Scud-type missiles from Gadhafi's home city, Sirte, toward Misrata. Initial reports showed that the rockets landed most likely at sea or on the shore, NATO told Reuters, saying it wasn't aware of any casualties or damage.
Video: Libyan rebels control ‘almost all of Tripoli’ (on this page)
The U.S., which is part of the NATO campaign, will continue flying Predator drone missions — some of them armed — over Libya, the Defense Department official told NBC News. But for now, the Obama administration's policy that there would be no "U.S. boots on the ground" remains in effect, the official said.
Where could he go?
A variety of sources reported that Gadhafi was headed to any of several countries — among them Venezuela, Russia, Cuba, Angola, Zimbabwe, Algeria, South Africa and Tunisia — but U.S. officials said they had no confirmation that he had even been extended an invitation by any country.
South African Foreign Minister Maite Nkoana-Mashabane said Monday that his country wasn't helping Gadhafi leave and that it wouldn't offer him asylum. Algeria's foreign minister denied that Gadhafi was in his country. Venezuelan President Hugo Chavez, a strong supporter, is reported to be seriously ill and unlikely to be able to guarantee protection.
Video: Gadhafi rule crumbles as rebels surge (on this page)
Until Gadhafi is accounted for, the rebels could not say that they had reached "the real moment of victory," Mustafa Abdel-Jalil, head of the opposition's National Transitional Council, said at a news conference from the council's headquarters in Benghazi.
Mahmud Nacua, a diplomatic representative for the rebels, said opposition fighters would "turn over every stone to find him, to arrest him and to put him in the court."
Obama urges peaceful transition
Speaking on tape from Martha's Vineyard, Mass., where he has been monitoring developments while on vacation, Obama noted that Gadhafi was still at large and that fighting was continuing amid a "fluid and uncertain" atmosphere in Tripoli and other major parts of Libya. But "the situation in Libya has reached a tipping point," he said, and the U.S. stands ready to help opposition leaders rebuild the country.
"This much is clear: The Gadhafi regime is coming to an end," Obama said, "The future of Libya is in the hands of its people."
Repeating comments he made in a written statement Sunday night, Obama said the U.S. recognized the National Transitional Council as the government of Libya and would be its "friend and partner."
Obama made a point of calling on the opposition "to take steps to ensure a peaceful transition" and said "the rights of all Libyans must be respected." The comments came as Abdel-Jalil, the rebels' leader, warned that some opposition forces were breaking off on their own and ignoring the chain of command.
Abdel-Jalil expressed deep frustration with indiscipline within the rebel movement, warning that some fighters' refusal to observe the chain of command "might be the reason or the cause of my resignation."
Source:msnbc
Viral videos august 2011
Viral videos august 2011. Looking for some new water-cooler topics? Look no further than this month's viral videos. From crazy animal antics to daredevil feats, they've got it all. Scroll through to see what the online world is buzzing about.
Watch the video
Read More: msn
Sue Johnston bulimia
Sue Johnston bulimia. The former Brookside star has spoken openly about her eating disorder in the book, titled Things I Couldn’t Tell My Mother. Speaking about the book in The Mirror, Johnston said: “Back then my eating demon was out of control. I was constantly obsessed with food to the exclusion of everything else, and this went hand in hand with an intense self-loathing,”“I began to eat any old rubbish, shoving it down my neck and then throwing it up again. I was treating myself like a dustbin. I’d cry with shame but I couldn’t stop. It was an appalling time and I have been dreading this coming out because I haven’t told my son or Goddaughter yet. I nearly didn’t write about it – but that felt dishonest.“The truth is, I’m ashamed I allowed myself to get so low over food when there are people in the world starving. Having played a psychologist in Waking the Dead I know what my character Grace would say to someone with bulimia, but I can’t be kind to myself in the same way.”She continued: “When Brookside took off I was on TV all the time and I hated seeing myself on screen. I became acutely aware of my appearance. So I began making myself sick. I would go to the toilet, stick my fingers down my throat and throw up,”“It became something I did after every meal. I was triumphant, feeling all my dieting prayers were answered.“But I came through it. And now I am on top of my relationship with food and try to eat healthily and exercise.She finished with: “I just hope that by talking about these experiences I can make other women who are struggling the way that I once did know that they can come through it, too.”Source: rte
BBC apologises for Radio 4 F-word slip
by Newspark | 15:30 in BBC apologises for Radio 4 F-word slip, breaking news |
BBC apologises for Radio 4 F-word slip
BBC apologises for Radio 4 F-word slip. The BBC has apologised after weatherman Tomasz Schafernaker was caught making a rude gesture live on air. He raised his middle finger after news presenter Simon McCoy jokingly said his forecast would be “100% accurate”.After realising he had been shown on screen, Schafernaker tried to cover up by pretending to scratch his chin.“The News Channel presenter in the studio acknowledged a mistake had been made, and we apologise for any offence caused,” a BBC spokesman said.“Tomasz was not aware that he was on air, and whilst the gesture was only shown for a second, it was not acceptable.”During a joking handover, McCoy said: “Now we’ll have the weather forecast in just a minute. Of course it will be 100% accurate and provide you with all the details you could possibly want.”After Schafernaker’s gaffe, McCoy said: “Every now and again there’s always a mistake and that was it.”The weatherman later wrote on his website: “Prior to a live weather bulletin, I made a gesture off camera joking with my fellow presenters and without warning the camera went live to the weather studio.“I am very sorry for any offence that might have been caused by my actions.”The Polish-born weatherman began presenting on BBC South East Today in 2001 before joining national BBC outlets in 2006.He made a public apology in 2007 after calling the Western Isles and the west Highlands “nowheresville” during a live weather broadcast.He was also reduced to hysterics by an unfortunate rude slip of the tongue while trying to say “muddy site” during a BBC Radio 4 forecast last year.Source: bbc
Tea Kung Fu
by Newspark | 15:27 in bravo, cool, Funny, how to, Interesting, lolz, photos, pics, tea, tea cup, Tea Kung Fu, Unique and tagged amazing, Unique. |
Winehouse duet with Tony Bennett to be charity single
by Newspark | 15:22 in celebrity news, Winehouse duet with Tony Bennett to be charity single |
Winehouse duet with Tony Bennett to be charity single
"What's going to happen is that we're putting that (Body and Soul) out ahead of the album," Bennett told MTV.
"It's going to a foundation that her father started, to teach all the young children not to take drugs, and all the royalties of the record will go to that," added the US crooner.
Mitch Winehouse said in a statement that he "couldn't be happier".
"Amy was so excited to be working with Tony Bennett and really looking forward to her fans hearing this new recording," he added.
"The fact that Amy's voice is sounding as amazing and beautiful as ever and she is singing with the great Tony Bennett seems the most fitting tribute of all at this very difficult time."
Winehouse's father went to the British parliament on Monday to plead for more state-funded drug rehabilitation centres as his family waits for toxicology test results on the singer's death.
Winehouse, 27, was found dead at her north London home on July 23. Her death remains unexplained, with toxicology test results due within the next three weeks, although it is not being treated as suspicious.
The soul singer's sultry vocal talents were often overshadowed by her drink and drug addictions, and her best-known single, "Rehab", detailed her troubles and reluctance to undergo rehabilitation treatment.
Source: yahoo
Ray Bradbury 91 Birthday
Mike Medavoy, Doug McKay, RGI Productions' Rodion Nahapetov and producer Natasha Shliapnikoff are producing. Nahapetov is writing. In a written statement, Bradbury, who turns 91 on Monday, said, that "'Dandelion Wine' is my most deeply personal work and brings back memories of sheer joy as well as terror."
In the statement, Nahapetov noted, "When I began my studies at the Cinema Institute in Moscow, many foreign books were banned in Soviet Russia. Still I decided to make my short film based upon 'Dandelion Wine' because this novel represented to me the childhood I never had."
The novel is Bradbury's semi-autobiographical tale about the rhythms of small-town America.
Bradbury is considered among the best science fiction writers of his era. His work includes "Martian Chronicles" and "Fahrenheit 451."
Mortgage rates 4.15
Mortgage rates 4.15. Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS), showing mortgage rates, fixed and adjustable, reaching all-time record lows providing further incentive for those homeowners looking to refinance. The 30-year fixed-rate mortgage (FRM) averaged 4.15 percent with an average 0.7 point for the week ending Aug. 18, 2011, down from last week when it averaged 4.32 percent. Last year at this time, the 30-year FRM averaged 4.42 percent. The 30-year fixed average of 4.15 percent, breaks the previous record low of 4.17 percent set on Nov. 11, 2010.The 15-year FRM averaged 3.36 percent, with an average 0.6 point, down from last week's totals when it averaged 3.50 percent. Last year at this time, the 15-year FRM averaged 3.9 percent.
"The Federal Reserve's policy statement last week and ongoing market concerns over the European debt market carried momentum into this week allowing all mortgage products in our survey to reach all-time record lows," said Frank Nothaft, vice president and chief economist for Freddie Mac. "For instance, 30-year fixed mortgage rates are now the lowest in over 50 years. In comparison, the Bureau of Economic Analysis estimated the average effective mortgage rate was about 5.3 percent on single-family loans outstanding during the second quarter of 2011."
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.08 percent this week, with an average 0.5 point, down from last week when it averaged 3.13 percent. A year ago, the five-year ARM averaged 3.56 percent. The one-year Treasury-indexed ARM averaged 2.86 percent this week with an average 0.6 point, down from last week when it averaged 2.89 percent. At this time last year, the one-year ARM averaged 3.53 percent.
"Not surprising, many homeowners took advantage of this low mortgage rate environment and have already refinanced their loans," said Nothaft. "The refinance share of applications averaged nearly 70 percent of all mortgage activity in the first half of this year, according to our survey. In addition, an increasing share of refinancing borrowers chose to shorten their loan terms during the second quarter, according to Freddie Mac's Quarterly Product Transition Report."
Eliot Spitzer $60 million
Gilman is suing him for $60 million, and McNenney is seeking $30 million.
Gilman and McNenney were both longtime employees of Marsh when, in 2004, then-Attorney General Spitzer opened a probe into the company's activity.
(Marsh ultimately settled the suit to the tune of $850 million in 2005.)
Following the settlement, eight executives at the company were indicted in the probe, but in 2010, the judge threw out those convictions due to new evidence.
Spitzer, by then writing for Slate, reacted by penning the column in question, which detailed kickbacks and other wrongdoings -- and by which Gilman and McNenney apparently feel implicated.
Spitzer has thus far declined to comment on the lawsuits.
Source: businessinsider
Canada's most beautiful national parks
by Newspark | 15:15 in Canada's most beautiful national parks |
Canada's most beautiful national parks
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