Diberdayakan oleh Blogger.

Popular Posts Today

Russia demands Ukraine pay overdue gas bill, raising fears of gas war

Written By Unknown on Selasa, 29 Oktober 2013 | 22.39

Russian gas export monopoly Gazprom demanded Ukraine pay an overdue gas bill urgently on Tuesday, raising fears of a new "gas war" and increasing pressure on Kiev as it tries to build ties with Europe.

Prime Minister Dmitry Medvedev described the payment problems as critical, ahead of Kiev's signing next month of agreements with the European Union that would mark a historic shift away from former imperial master Moscow.

Using language that harked back to earlier spats in which Moscow cut off gas to Ukraine, hitting onward deliveries to Europe, Medvedev told Gazprom CEO Alexei Miller Kiev had not taken the payments seriously enough in recent talks.

"The (problems) exist, and they are absolutely critical," he said at a government meeting.

Deadline passed Oct. 1

Miller said Ukraine had been given until Oct. 1 to pay for natural gas deliveries in August, but no payment had yet been received. He said Gazprom had also paid Ukraine $1 billion US up front to pump gas though its territory to Europe.

"The situation with Ukraine's gas payments is coming to the boil," Miller told the meeting. "Ukraine has failed to pay fully for August supply."

Earlier, he said he was "extremely concerned."

Ukraine's state oil and gas firm, Naftogaz, declined to comment on Gazprom's remarks, but Prime Minister Mykola Azarov said the government was "monitoring the issue."

"This, primarily, is a question concerning two companies, and they have to sort things out," Azarov's press service said.

Deliveries halted in 2006, 2009

Russia and Ukraine have waged two gas wars over prices in the winters of 2006 and 2009, with Moscow halting deliveries not only to Ukraine but to the rest of Europe, forcing some in the European Union to seek alternative sources of energy.

President Vladimir Putin wants Ukraine to join a Moscow-led customs union with Russian and two other former Soviet republics, Kazakhstan and Belarus, and Russia has put pressure on its neighbour, which faces large payments to service its debt over the next 18 months, by tightening customs rules and banning some imports.

Earlier this year, Russia hinted that gas prices, which Kiev has called "exorbitant," could be cut if it joined the customs union.

Medvedev said Russia could resort to a system of advance payments if Ukraine did not respond to its demands.

"There is a danger of a new gas war with Ukraine, where the economy is struggling," said Sergei Vakhrameyev, an analyst with Ankorinvest brokerage in Moscow.

"The situation of past years, when gas flows to Europe halted, could be repeated again."

Half of Gazprom's gas transits through Ukraine

Putin and Ukrainian President Viktor Yanukovich met in the Black Sea resort of Sochi on Sunday for bilateral talks, although neither side has commented on what was discussed.

Ukraine, which imports nearly all its gas from Russia, pays about $400 per 1,000 cubic metres, slightly higher than the average price paid by European customers.

Naftogaz said earlier this month it had 17 billion cubic metres of gas in storage, enough to get through the winter.

Gazprom ships more than half of its gas to Europe via Ukraine. This year it aims to increase exports to Europe, where it provides a quarter of gas needs, to 152 billion cubic metres from 138 bcm last year.


22.39 | 0 komentar | Read More

Pipeline safety: Canada lags U.S. on making data public

After a long day tending his expansive canola farm near Swan Lake, in central Manitoba, Dan Hacault turns on his computer to try to find out more about what's buried below his cash crops — eight pipelines.

The veteran farmer says he spends hours looking at the website of the federal pipeline regulator, the National Energy Board, but finds it a confusing labyrinth that leads him in circles.

"Sometimes you luck out" and you find what you are looking for, says Hacault, who is also a director with the Manitoba Pipeline Landowners Association. "Usually, it's just by accident."

Hacault may not be the only one frustrated. When it comes to being transparent about pipeline data, a U.S. pipeline watchdog says Canada lags far behind its southern neighbour.

"I was kind of shocked how little there is available in Canada," says Carl Weimer, executive director of Pipeline Safety Trust in Bellingham, Wash., a non-profit group focused on improving pipeline safety.

The group publishes annual reports ranking pipeline regulators across the U.S., at both the federal and state levels.

This past summer, Weimer came to Canada to speak at a safety forum organized by the NEB.

He told an audience made up of oil and gas company heavyweights as well as government representatives that the NEB would rank a "pretty low" — nine out of 30 in the transparency rung — if he used the trust's criteria.

Maps, data in U.S.

Over at the NEB, the head of business operations, Patrick Smythe, acknowledges that its information may not always be available online.

"But if anyone wants any information on any Canadian pipeline that we regulate they can come to us and ask us for that information and we'll provide it," he said.

In Canada, general maps are available from individual pipeline companies, but there is no comprehensive one showing all the systems and their exact locations.

The difference in the U.S. is that any member of the public can go online and view maps of pipelines accurate to about 150 metres right across the country.

The National Pipeline Mapping System allows citizens to search by operator, pipeline name or even the status of the pipeline, whether it's in service or abandoned.

U.S. pipeline maps first went online in 2000, though security fears prompted the government to pull them down after the Sept. 11, 2001, attacks, says Weimer.

They came back online about two years later. "We kind of came to the realization that it was more important for the public to know where the pipelines were than to worry about the terrorists," says Weimer.

Reams of pipeline data are also available about incidents and much of it is downloadable.

A homeowner can look up a company to see how many barrels of oil or gas it spilled in a year, what the associated property damage cost and even details about how often the company was inspected.

U.S. a 'little further ahead,' says NEB

"Once a person realizes that they have a pipeline near their house, the questions they want to know is 'What's the potential impact, am I far enough away from it if something fails?'" says Weimer.

hi-pipeline-inside

The federal regulator oversees about a tenth of pipelines in the country. Provinces monitor lines within their own borders. (John Rieti/CBC)

"The second thing they often ask is 'How well has this pipeline been operated, how many incidents has this company had on this pipeline in the last 10 years?'"

Most importantly, the U.S. data covers pipelines and incidents across the country. Nowhere in Canada can the public find out details about pipeline incidents across the country. That's part of the reason why the CBC has produced a map of federally-regulated pipeline incidents over the past decade, gained from access to information data, and is looking to expand it.

At the NEB, Smythe acknowledges that the U.S. is "a little further ahead," and noted that it has a different structure, with a tighter relationship between the national regulator and state counterparts.

"We don't have that same relationship here in Canada," he said.

The NEB only oversees 71,000 pipelines that cross borders and are run by about 90 companies, about a tenth of the overall network. Provinces monitor the remaining 760,000 kilometres that are contained inside their borders.

This past August, the Senate energy committee recommended that the NEB and the Transportation Safety Board, another body that probes pipeline issues, give the public more detailed information about safety issues. 

The committee called for the regulators to produce an interactive map, which would not only tell Canadians about spill amounts but also what caused each incidents.

Smythe says the NEB agreed with the Senate committee recommendations for a website and understands the need for greater transparency. The board plans to consult with Canadians about "what it is they need and how to get it to them."

More demand for raw details

In June, Alberta Energy Regulator, the new body watching over the province's vast internal network of pipelines, took the bold step of posting all pipeline incidents that affect the public.

A unique trust

The Pipeline Safety Trust is a unique advocacy group with no Canadian equivalent. 

It was born out of a catastrophe in Bellingham, Wash., in 1999 when three young people died after a pipeline ruptured and was set ablaze. 

The first victim was an 18-year-old who was fishing in a creek and drowned after he was overcome by noxious fumes. Two 10-year-old schoolmates also died after suffering burns to 90 per cent of their bodies in the explosion.​

After that, the community vowed to fund an oversight agency. And when criminal fines were imposed on the company in 2003, the judge ordered $4 million of that to go to the trust. 

Source: Pipeline Safety Trust

"The NEB doesn't have that," said Barry Robinson, a Calgary-based lawyer with Ecojustice. "You kind of have to hear through the grapevine that there might have been an incident."

Robinson says that some of the key information the public should have access to is the specific location of a spill and what action regulators took against the company involved.

Canadian Energy Pipelines Association (CEPA), a group representing some of the largest companies, says that the industry strives to present accurate data about their members' 99.999 per cent safety record.

"What has changed is an expectation for the public to be able to parse that data themselves and we welcome that," said CEPA president Brenda Kenny.

At the Pipeline Safety Trust in Bellingham, Weimer says pipeline data should be as transparent as possible so that the public can make informed decisions about the oil and gas lines crisscrossing their neighbourhoods.

"We feel that we can really help strengthen pipeline safety regulations by getting more people aware that they do have these pipelines and what the impacts can be," he says.

Filling the gaps

The data that the CBC collected for our searchable map suggests that the rate of pipeline incidents has doubled, from one to two incidents for every 1,000 kilometres, between 2000 and 2011.

It was difficult to do much analysis with the data set since some reports were incomplete or had inconsistent information.

NEB said the database provided through access-to-information was a "snapshot in time," and that while its employees didn't always update the records, there are supporting documents in other files.

Weimer notes that the move to more transparency can involve growing pains. When the U.S. began publishing pipeline data, similar holes appeared.

"Because of the transparency, people were able to push to fill in those gaps," he says.

Now, he says, the conversation between industry and interest groups has turned to more important issues, such as the best way to measure pipeline safety and how to make all the data easier to understand.

"That can't happen in Canada at this point because there really isn't any data to argue about," he says.

If you have any pipeline-related stories, please email us at pipelines@cbc.ca.


22.39 | 0 komentar | Read More

Sears Canada to close flagship Toronto store, 4 others

Sears Canada is closing five of its department stores, including its flagship location in Toronto's Eaton Centre, as part of a $400-million deal.

Sears plans to sell the leases of those five stores to mall operator Cadillac Fairview, in what would be the biggest sale since the retailer began shedding assets and cutting jobs in an effort to turn around its struggling operations.

The planned closure of the Eaton Centre location, by 2014, is notable as it is considered the company's flagship store and is in a central tourist area.

About 965 employees will be affected by the closure of the five locations, although Sears Canada says they will have the option to apply for other jobs within the company.

As part of the sale, Sears will close stores at Sherway Gardens in Toronto and London-Masonville Place in London, Ont., by February, and the Markville Shopping Centre in Markham, Ont., and Richmond Centre in Richmond, B.C., by February 2015.

The company's U.S. parent is also planning some drastic changes to cut costs.

Sears Holdings Corp., which owns 51 per cent of Sears Canada, is considering separating its Lands' End and Sears Auto Center businesses from the rest of the company. The retailer also plans to continue closing some of its unprofitable stores as it moves ahead on its turnaround efforts.

Sears has been working for some time to cut costs and lower its debt. The company said Tuesday that it would likely pursue a spinoff of Lands' End and not a sale. The retailer also said that it has already started repositioning Sears Auto Center around services other than tires and is evaluating strategic options for the business.

Sears anticipates closing unprofitable stores, including locations with leases that are set to expire soon. The retailer said that it would take the capital from the unprofitable locations and redeploy it elsewhere.


22.39 | 0 komentar | Read More

Google Glass now available by invitation

852-google-glass-168955497

Google Glass had previously been available for $1,500 to just 10,000 people selected to take part in the Google Glass "explorer" program. (Justin Sullivan/Getty Images)

Google is relying on a little social networking to put its internet-connected glasses on the heads of more people.

The expanded sales of the device known as Google Glass will come as part of an invitation-only program announced Monday.

The roughly 10,000 Glass owners who began testing the device earlier this year will each be allowed to invite up to three people to buy the device. The early Glass users are primarily computer programmers and winners of an online contest conducted earlier this year.

The recipients of the invitations will have to pay $1,500 apiece for Glass, which works like a smartphone except that it's worn on the head like a pair of spectacles. The device includes a speaker, a hand-free camera and a thumbnail-sized display screen attached to the frame above the right eye.

Google Inc. still plans to release a less-expensive model of Glass next year. The precise pricing and timing of the mass-market version still hasn't been determined.

Relying on the early users of a test product to gradually widen the audience is a familiar strategy for Google. The Mountain View, California, company did something similar in 2004 after it released Gmail, its free email service.

Glass already has generated concerns among critics who worry that its hidden camera could invade the privacy of people who don't realize that video or pictures are being taken of them. Others are concerned that Glass will thrust more technological distractions into society by making it even easier for people to be online at all times.

Google says it believes Glass will promote more meaningful interaction by giving people less reason to glance down at a smartphone screen every few minutes.

As part of Glass' expansion, Google is giving the early testers the option to exchange their current device for an improved version. The updated model includes an ear bud for better acoustics and will work on prescription frames.


22.39 | 0 komentar | Read More

U.S. Retail sales slip in September as auto sales tumble

A sharp drop in auto sales caused largely by a calendar quirk lowered U.S. retail spending in September. But Americans spent more on most other goods, showing some confidence in the economy before much of the government shut down.

Overall retail sales dipped 0.1 per cent, the Commerce Department said Tuesday. That was the weakest showing since March.

Auto sales fell 2.2 per cent, the largest decline since October 2012. But the drop occurred largely because the sales calendar pulled Labor Day weekend activity into August, automakers have said. That means the drop was likely temporary.

Excluding autos, gas and building supplies, sales rose 0.5 per cent in September, up from 0.2 per cent in August. Economists exclude those categories because they tend to be volatile.

Outside of autos, nearly all retailers reported higher sales, including furniture stores, electronics and appliance retailers, and grocery stores. Sales at clothing stores and department stores were the only others aside from autos to decline.

Retail sales are closely watched because they're the government's first report each month on consumer spending, which accounts for 70 per cent of U.S. economic activity.

Americans have increased their spending modestly this year. But slower job growth and minuscule pay raises could make them less inclined to open their wallets.

Consumer confidence fell in September to a four-month low, according to the Conference Board. In addition to a weaker job market, higher interest rates and a drop in stock prices may have also weighed on Americans' outlook.

The Conference Board will release the October consumer confidence report on Tuesday as well. Economists expect it will fall even further, reflecting concerns last month about the partial government shutdown.

Employers added an average of just 143,000 jobs a month from July through September. That's down from 182,000 a month from April through June and 207,000 in the first three months of the year.

Sluggish spending is likely to weigh on growth. Most economists predict growth slowed in the July-September quarter to an annual rate of about 1.5 per cent to 2 per cent, down from a 2.5 per cent rate in the April-June quarter. And the shutdown is likely to keep growth at a sluggish pace for the final three months of the year.

The retail sales report was delayed by the shutdown. It was originally scheduled to be released Oct. 11.


22.39 | 0 komentar | Read More

McDonald's to stop using Heinz ketchup at its restaurants

Written By Unknown on Senin, 28 Oktober 2013 | 22.39

McDonald's has lost its taste for Heinz ketchup.

The fast-food giant said in a statement that it is cutting ties with the condiment company after 40 years due to management changes there. A former Burger King CEO became head of Heinz in June after the company was bought by Warren Buffett's Berkshire Hathaway and 3G Capital. 3G, a Brazilian investment firm, also controls Burger King.

The impact of the change may be tasted more overseas. In the U.S., McDonald's uses Heinz products only in Pittsburgh and Minneapolis restaurants.

"As a result of recent management changes at Heinz, we have decided to transition our business to other suppliers over time," McDonald's Corp. said in a statement. The Oak Brook, Ill.-based restaurant chain did not disclose the value of their business relationship.

Heinz said that it does not comment on relationships with customers as a policy.

The Pittsburgh company, which also makes baked beans, vinegar and other foods, is now led by Bernardo Hees. He still serves as vice chairman of Burger King's board and is also a partner at 3G Capital.

The 43-year-old Brazilian had become CEO of Burger King after 3G bought the struggling hamburger chain in 2010. He subsequently slashed costs, revamped the chain's menu and launched a major marketing campaign to help make it a more formidable threat to long-time rival McDonald's.

McDonald's shares added 10 cents to close at $94.78. Heinz is now privately held.


22.39 | 0 komentar | Read More

Finance Minister Flaherty speaks after meeting with economists

Live

CBCNews.ca carries news conference LIVE starting 11 a.m. ET.

CBC News Posted: Oct 28, 2013 10:47 AM ET Last Updated: Oct 28, 2013 11:04 AM ET

Finance Minister Jim Flaherty speaks with reporters as he meets with private-sector economists in Ottawa today.

CBCNews.ca is carrying the news conference LIVE starting at 11 a.m. ET.

Earlier Monday, the Parliamentary Budget Office released its fall update, which predicts Flaherty is on track to balance the federal books by 2015 as forecast, despite an expected slowdown in the economy.

More to come

Comments on this story are pre-moderated. Before they appear, comments are reviewed by moderators to ensure they meet our submission guidelines. Comments are open and welcome for three days after the story is published. We reserve the right to close comments before then.

Submission Policy

Note: The CBC does not necessarily endorse any of the views posted. By submitting your comments, you acknowledge that CBC has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that comments are moderated and published according to our submission guidelines.

Stay Connected with CBC News

Advertisment

Latest Politics News Headlines

The House

  • Trudeau challenges Harper to testify under oath Oct. 25, 2013 11:13 PM This week on a special edition of The House, Evan Solomon takes a closer look at the unfolding Senate controversy with Liberal Party leader Justin Trudeau, Conservative Senator, and former leader of the government in the Senate, Marjory LeBreton, as well as fellow Conservative Senator, and former party president, Don Plett.

Advertisment


22.39 | 0 komentar | Read More

Pipeline safety incident rate doubled in past decade

Pipelines regulated by the federal government — which include some of the longest lines in the country — have experienced a swell in the number of safety-related incidents over the past decade, documents obtained by CBC News suggest.

In recent months, a spate of oil and gas spills both from train derailments and pipelines have raised questions about what mode of transport is the safest.

The pipeline industry has touted its record as it seeks support for numerous controversial projects across the continent, including TransCanada's Keystone XL to the U.S. Gulf Coast and Enbridge's Northern Gateway to the B.C. coast.

However, according to figures from a National Energy Board (NEB) data set obtained under access-to-information by CBC, the rate of overall pipeline incidents has doubled since 2000.

By 2011, safety-related incidents — covering everything from unintentional fires to spills — rose from one to two for every 1,000 kilometres of federally-regulated pipeline. That reflects an increase from 45 total incidents in 2000 to 142 in 2011.

Pipeline watchers like Pembina Institute associate Nathan Lemphers suggest the rise may be a worrisome sign of aging infrastructure.

"The pipelines that are in the ground are getting older and in some cases there's more products flowing through them so you're going to see increasing incidents and increasing defects in those pipelines unless they're properly maintained," Lemphers said.

The NEB documents give detailed information about 1,047 pipeline safety incidents from Jan. 1, 2000 until late 2012.

The federal regulator oversees any pipeline that crosses provincial or international borders, which includes about 90 companies that own about 71,000 kilometres of pipelines. The data does not include smaller pipelines monitored by provinces.

The National Energy Board attributes the rise in incidents to heightened awareness among companies about what they need to report.

"We've been out there talking with industry associations and the companies themselves to ensure that they are fully aware of what the reporting requirements are and I think that's why we're seeing an increase right now," said NEB's business leader for operations, Patrick Smythe.

Leaks, spills triple

Each company overseen by the NEB must report safety issues including the death or serious injury of a worker, fires, explosions, liquid product spills over 1,500 litres and every gas leak.

Among the other findings based on NEB's pipeline database is that there's been a three-fold increase in the rate of product releases spills and leaks — ranging from small leaks and spills  to large — that have been reported in the past decade.

hi-pipeline-oil-yellow-flag

B.C. saw the most reported incidents for a single province, followed by Alberta and Ontario (John Rieti/CBC)

More than four reportable releases happened for every 10,000 kilometres in 2000, or 18 incidents in total, according to NEB data. By 2011, that rate had risen to 13 per 10,000 kilometres, or 94 incidents.

Those numbers include any oil or natural gas releases companies are required by law to report.

Carl Weimer, executive director of U.S. advocacy group Pipeline Safety Trust, says each small leaks may not  be significant on its own, but taken together they provide a better picture when looking at safety trends.

"It shows how really carefully they are taking care of the pipelines," said Weimer.

British Columbia experienced the most pipeline safety incidents for a single province, with 279 recorded events from 2000 to 2012 in the data set. Alberta came in second with 244 incidents, followed by Ontario with 146.

The community with the highest number of incidents in its vicinity is the remote town of Norman Wells, Northwest Territories, which has seen 71 events.

NEB concerned about severe incidents

CBC News turned the NEB data set into a user-friendly map that allows Canadians to explore pipeline incidents using filters such as the nearest community, year, company, pipeline or substance spilled.

It provides an unprecedented bird's eye view of safety issues plaguing pipelines over the past decade and also gives users the ability to drill down into the details of each report.

NEB's Smythe says that the regulator has not seen an alarming increase in the "significant, serious or major incident over the last little while."

Recent documents published by the NEB show that they have expressed some concern over rising numbers.

"Notwithstanding the safety record of NEB-regulated pipelines, the board has noticed an increased trend in the number and severity of incidents being reported by NEB-regulated companies in recent years," one 2012 report states. 

Another 2011 document citing the same concern also notes the need for NEB to "enhance data collection" in order to tackle that problem and other troubling trends in the industry.

It goes on to say that a reduction in the numbers ultimately "depends on actions taken by the industry."

Brenda Kenny, president of the Canadian Energy Pipelines Association, which represents major companies, says there's an industry-wide commitment to "get to zero incidents."

"We're driving that out very hard through our risk-based management approach at the industry level that involves a lot of best practices, integrity, management, technology and these indicators," said Kenny.

"The Canadian pipeline industry is one of the very safest in the world second to none in terms of actual results," said Kenny.

Pipelines have faced unparalleled attention in recent years as global demand fuels a production boom across the continent, resulting in a rise in pipeline proposals.

"Pipelines were very much out of sight out of mind until recently," said Ian Goodman, a U.S. energy consultant who works with regulators and community groups across North America.

The pipeline debate is not generally "front-page news day after day … the way it now is. That's a new development."

If you have any pipeline-related stories, please email us at pipelines@cbc.ca.


22.39 | 0 komentar | Read More

Budget watchdog affirms 2015 surplus despite slower growth

Canada's budget watchdog predicts the Harper government will be able to balance the budget in 2015 despite slowing growth, but concluded it will be a close shave and that subsequent surpluses will be smaller than Ottawa projects.

The latest fiscal and economic report card from the parliamentary budget officer shows the surplus in 2015-16 a razor-thin $200 million — lower than the March budget estimate of $800 million.

As well, the office sees the following year's surplus at a mere $1.7 billion, less than half the budget's prediction of $3.9 billion.

The moderately lower fiscal track may turn out to be significant because the prime minister is counting on a balanced budget — and preferably a modest surplus in the March 2015 budget — in order to be able to fulfil his 2011 campaign pledge to introduce income splitting for tax purposes in time for the Oct. 15, 2015 election. The promise was contingent on having eliminated the deficit.

The report notes that the calculations may be subject to adjustments. The office notes that it did not attempt to include the impact of the throne speech promise to freeze operating budgets going forward.

The estimates, however, do incorporate last week's surprise announcement that the deficit in the just-completed 2012-13 fiscal year was $7 billion lower than projected at $18.9 billion. As a result, the budget office says this year's shortfall will come in at $14.7 billion, about $4 billion lower than forecast in the government's March budget.

Finance Minister Jim Flaherty, who is being briefed Monday on the state of the economy by private sector analysts, is expected to issue his updated fiscal projections in the next few weeks.

Slower economic growth next year and lower-than-projected commodity prices are the key reasons for the tempered fiscal projections, says the budget office report.

"These developments have led PBO to revise down the outlook for the Canadian economy relative to its April (forecast)," the report says. "As a result, PBO's outlook for nominal GDP — the broadest measure of the government's tax base — is lower, by $25 billion annually, on average, than the projection based on an average of private sector forecasts."

The report says the economy will likely grow two per cent in 2014, not the 2.5 per cent predicted in the March budget.

As well, Flaherty's decision to freeze employment insurance premiums is expected to cost the treasury about $700 million over the next two years, the report states.

In its economic outlook, the budget office says it expects the unemployment rate to rise slightly and that the Bank of Canada will keep its key interest rate at one per cent through the first quarter of 2015.


22.39 | 0 komentar | Read More

Canadians spent $18.9B online in 2012, StatsCan says

Canadians spent $18.9 billion online for goods and services in 2012, a 24 per cent jump from 2010, the last time Statistics Canada conducted a survey.

Fifty-six per cent of internet users said they purchased goods or services online last year, compared to 51 per cent in 2010, spending an average of $1,450 over about 13 transactions, according to the federal agency.

Younger Canadians were more likely to shop online. Sixty-seven per cent of internet users between age 25 and 34 made purchases from the web.

Travel remains the most-shopped item online, with 58 per cent of Canadian web users paying for hotels, airline tickets or rental cars. Event tickets were the second-most shopped, with 52 per cent buying online. 

However, online shopping remains a small part of the total retail economy, accounting for just four per cent of total retail sales of $470 billion last year.

A report released earlier this year suggests Canadian retailers are running out of time to launch online stores.

The survey, conducted by the U.S.-based Forrester Research, said 25 per cent of online sales in Canada already go through international sites, with consumers citing high prices and shipping costs for avoiding Canadian online retailers.


22.39 | 0 komentar | Read More

Private contractor to take lead in fixing U.S. health insurance website

Written By Unknown on Minggu, 27 Oktober 2013 | 22.40

Nearly a month into the dysfunctional rollout of the U.S. government's new health insurance website, Obama administration officials said Friday they have identified dozens of problems that need fixing and tapped a private company to take the lead in solving them.

Jeffrey Zients, a management consultant brought in by the White House to assess the extent of problems with the HealthCare.gov site, told reporters his review found issues across the entire system, which is made up of layers of components interacting in real time with consumers, government agencies and insurance company computers.

It will take a lot of work, but "HealthCare.gov is fixable," said Zients. The vast majority of the issues will be resolved by the end of November, he said, and there will be many fewer errors. He stopped short of saying the problems will go away completely.

QSSI promoted to general contractor

The administration also said it is promoting one of the website contractors, Quality Software Systems Inc., to take on the role of "general contractor" shepherding the fixes. QSSI was responsible for two components of the website, a major linchpin that works relatively well, and an accounts registration feature that froze and caused many of the initial problems.

HealthCare.gov was supposed to be the online portal for uninsured Americans to get coverage under President Barack Obama's health care law. Touted as the equivalent of Amazon.com for health insurance, it became a huge bottleneck immediately upon launch Oct. 1. The flop turned into an embarrassment for Obama and will likely end up as a case study of how government technology programs can go awry.

The briefing from Zients came a day after executives of QSSI and the other major contractor, CGI Federal, a subsidiary of Montreal-based CGI Group, told Congress that the government didn't fully test the system and ordered up last-minute changes that contributed to clogging the system. Next week, Health and Human Services Secretary Kathleen Sebelius is scheduled to testify.

Zients gave some new details about the extent of the problems, but administration officials are still refusing to release any numbers on how many people have successfully enrolled. Although 700,000 have applied for coverage through the new online markets, it's believed only a fraction of that number actually managed to sign up. Prior to the website going live, an administration estimate projected nearly 500,000 people would sign up in October alone.

Coverage deadline is Jan. 1

The marketplaces are the gateway to obtaining health insurance under the new health care law, which requires most Americans to have coverage by Jan. 1. Middle-class people who don't have insurance on the job can purchase a private plan with new tax credits to make the premiums more affordable. Low-income people will be steered to an expanded version of Medicaid in states that agree to extend the safety net program.

The federal government is running the insurance markets or taking the lead in 36 states. The rest were set up by states themselves.

Zeints said almost daily fixes are already having an impact. For example, over 90 per cent of users can now complete one of the first steps, creating an account.

But the application process, which involves submitting and verifying personal information and income details, remains "volatile," he said. At one point, as few as one-third of users were getting through that part.

Zients said there are two big categories of problems. Performance issues involve the speed and reliability of the website. Functional issues are bugs that keep the software from working as intended. He said the government has a "punch list" of needed fixes that add up to dozens in each broad category.

Near the top of the list: insurers are getting enrolments with incomplete, incorrect or duplicate information.

Concerns voiced to government

Until now, officials at the federal government's Centers for Medicare and Medicaid Services have taken the lead operational role on HealthCare.gov. The federal agency operate a successful e-commerce site for Medicare coverage, but it appears to have gotten in over its head when it comes to Obama's law. QSSI will now be responsible for the execution.

The company is a subsidiary of UnitedHealth Group, the nation's largest health insurer. It built a component of the website that's called the federal data hub and appears to be working relatively well. The hub is a conduit for verifying consumers' personal information.

An executive of the parent company, Andrew Slavitt, told Congress this week that QSSI had concerns about the federal website and relayed those to the government. Officials said the company's new role as "general contractor" will be an expansion of its current contract.


22.40 | 0 komentar | Read More

Loonie continues to fall on interest rate expectations

hi-loonie852-cp01516172

The Canadian dollar has fallen to a seven-week low against the U.S. dollar after the Bank of Canada indicated it will not move to hike interest rates in the next two years.

The Canadian dollar has fallen for the third straight day against the U.S. dollar, after the Bank of Canada moved Wednesday to lower expectations of an interest rate hike.

The loonie fell one-quarter of a cent to 95.70 cents US in early afternoon trading, a seven-week low, and is down a cent and a half so far this week.

On Wednesday, Bank of Canada governor Stephen Poloz indicated the bank is not expecting to raise rates any time soon, and that a cut to interest rates may be just as likely if economic conditions do not improve.

The bank also lowered its outlook for Canadian growth for the next three years, as Canadian exports have yet to pick up.

Andrew Pyle, senior wealth adviser and portfolio manager at Scotia McLeod, said he believes the loonie could hit 90 cents US by the end of the year.

Pyle noted Poloz's background as the head of Export Development Canada as another sign the bank wants to do what it can to lower the dollar and boost exports.

"I would bet right now that the Bank of Canada would like a little bit of juice from the currency, whether it's a two- to five-cent decline back towards 90 cents to get the export sector going and to get the economy going," Pyle said in an interview on CBC's Lang & O'Leary Exchange.

Other economists also see the dollar falling, but not as quickly. In a note, Capital Economics says it sees the Canadian dollar falling to 92 cents by the end of June next year.


22.40 | 0 komentar | Read More

World's first Bitcoin ATM goes live in Vancouver next week

Bitcoin Kiosk 20130908

The world's first Bitcoin kiosk, made by Robocoin, begins operation in Vancouver next week. (Robocoin/Canadian Press)

What's believed to be the first Bitcoin ATM in the world will go live next week in Vancouver, operated by Nevada-based Robocoin and Vancouver's Bitcoiniacs.

Mitchell Demeter, co-founder of Vancouver bitcoin trading company Bitcoiniacs and part-owner of Robocoin, has invested in five such machines to be placed across Canada.

Bitcoins are an emerging digital currency that isn't controlled by any authority such as a central bank. It's an idea that is moving into the mainstream, despite the scandal surrounding Silk Road, an anonymous online marketplace for illegal drugs and other illicit goods that used Bitcoins.

Silk Road was shut down and its owner arrested on narcotics charges earlier this month.

The new ATM, to operate near downtown Vancouver coffee house Waves, will trade Canadian dollars for online Bitcoins. Users are required to do a palm scan and are permitted to exchange up to $3,000 per a day.

Canadian cash is exchanged  on Canada's VirtEx exchange for Bitcoins, which are then entered in your online bitcoin wallet. Transactions will be anonymous.

The palm scan is to limit people to less than $3,000 worth of transactions, and avoid tangling with Canada's anti-money-laundering laws, says Demeter, who adds that he believes he is complying with all Canadian laws

Bitcoins currently trade for close to $200, but have swung widely in value from $13 to $250 in the past year. Until now, most have been traded person-to-person in individual transactions or through various unregulated exchanges that exist mostly online.

Last year, a bitcoin exchange in Europe, Bitcoin-Central, was authorized to operate as a bank.  Robocoin, which showed the ATMs at a California conference earlier this year, says the Vancouver ATM is the first to begin operation.

Bitcoiniacs says it's eyeing major Canadian cities such as Toronto, Montreal, Calgary and Ottawa for the other four machines, to come in December.

"Basically, it just make it easier for people to buy and sell Bitcoins and hopefully will drive the adoption of Bitcoin, and make it more accessible for people," Demeter told CBC News.

Bitcoins are mathematically generated through a series of commands executed by computers in a peer-to-peer network. The process is called Bitcoin "mining" and is set up so that the total number of Bitcoins that can ever be generated is limited to about 21 million.

While some have doubted Bitcoin's validity and others have raised concerns that the unregulated currency is being used for nefarious means, a U.S. judge ruled last month that Bitcoin, which has been around since 2009, is a real currency.


22.40 | 0 komentar | Read More

Paul Reichmann, real estate magnate, dies at 83

Once the head of the largest real estate development company in the world, which went bankrupt in 1992, Paul Reichmann died Friday in Toronto. He was 83.

The reclusive Reichmann brothers built Olympia & York into a major international development firm after starting out as a small company marketing flooring and tile in Toronto.

The five Reichmann brothers were the sons of Orthodox Hungarian Jews who fled central Europe during the Second World War.

Older brother Edward started Olympia Flooring and Tile in Montreal and was joined in Canada by Paul, Albert, Louis and Ralph. After the brothers began a small company in Toronto, Paul Reichmann was the force who parlayed it into a global real estate empire.  

Their developments included First Canadian Place in Toronto, the World Financial Center (right next to the World Trade Center in New York), and Canary Wharf in London.

Escaped the Nazis

Paul Reichmann was born in Vienna in 1930, where his father, Samuel, had his business at the time. His mother's name was Renée.

Paul Reichmann 19890313

Paul Reichmann is shown in London in 1989. He was the driving force behind the huge Canary Wharf development in the British capital. (Canadian Press)

By sheer luck, in 1938, the family was visiting Paul's grandfather in Hungary when the Nazis occupied Austria and annexed it with Germany.

They settled in Paris for a time, but by 1940, the Nazis were there too. Late in life, Reichmann could still remember the Nazi bombing of refugees south of Paris.

The family moved to Tangier in Morocco, where they prospered, as his father became a successful currency trader.

When the war ended, Paul studied religion in Britain and Israel, and became a rabbi. In 1953, he went back to Morocco and became a shirt retailer. That same year he married Lea Feldman.

In 1956, Paul joined his brother Edward in Montreal. Then, joined by brothers Albert and Ralph, they started a development business in Toronto.

Flemingdon Park in Toronto

Initially, they built warehouses and commercial buildings. Their first major project was the development of Flemingdon Park in Toronto's Don Mills neighbourhood.

In 1971, they advanced right into the heart of Toronto's financial district and won the contract to build what was then Canada's tallest building, First Canadian Place, at King and Bay streets.

By the 1980s, Olympia & York was the largest property development firm in the world, having bought a portfolio of skyscrapers in New York.

"He seemed to have this extraordinary knack of being able to see value where other people couldn't see it, and also extracting value from the buildings he built by financing them in creative ways and raising money to go on to bigger and better things," said Peter Foster, the author of the 1993 book, Towers of Debt: The Rise and Fall of the Reichmanns.

In 1980, they got 50-per-cent control of Brinco Ltd., a natural resources development company in Newfoundland and Labrador. The next year they bought an 82-per-cent controlling interest in Abitibi-Price Inc., and they held a significant share of Royal Trust Company. In 1985, they bought Gulf Canada Resources Ltd.

Along the way, they had acquired English Property Corp., one of the largest developers in Britain. That was the company that enabled them to build Canary Wharf in east London, at once their greatest achievement and their greatest failure.

The crucible of Canary Wharf

The largest real estate development in the world at the time, it boasted Britain's tallest building, One Canada Square.

It was Reichmann's vision (only now coming to fruition) that it would be a kind of Wall Street of London and successfully compete with the city's historic financial district known as the City.

But by the time it was finished in 1992, the London commercial property market had collapsed, bringing down Olympia & York.  In March of that year, Reichmann was forced to resign as president.

When it filed for bankruptcy in May 1992, Olympia & York owed more than $20 billion US to various banks and investors. It was closed down in 1993, and the Reichmanns were left with a small firm, Olympia & York Properties Corp.

What went wrong?

There are several theories about what went wrong with Paul Reichmann's judgment when he embarked on the Canary Wharf enterprise.

His reliance on his own business instincts may have led him astray, claims Foster.

According to the president of Canary Wharf, George Iacobescu, the Iron Lady herself, Margaret Thatcher, had personally called to ask Olympia & York to take on the development, and she promised that the Jubilee Line of the London Underground would be extended to speed up the trip to Canary Wharf from central London.

That promise was key to the development's success. But the line was not extended in her time. It opened only in 2000, long after the demise of Olympia & York.

Paul Reichmann was famous for sealing deals with a handshake and not bothering with corporate lawyers, and he always kept his word. He may have thought Thatcher would do the same thing.

Remained a wealthy man

The Olympia & York bankruptcy did not leave Reichmann poor by any means. In 2011 he was still listed among the richest Canadians. At number 30 on the list, his net worth was given as $1.83 billion, and that was up slightly from the year before.

In his usual secretive manner, Paul had continued with canny investments. For instance, he owned 70 per cent of Central Park Lodges, which in 1999 operated 74 retirement homes, 63 in Canada, the rest in the U.S., according to the National Post.

He was also involved in a $107-million project in Israel, according to the Jerusalem Post newspaper.

His company, IPC Jerusalem Ltd., built a five-star hotel and luxury condominium, called The Palace Jerusalem — The Waldorf Astoria Collection.

In 2004, he again bought a controlling stake in Canary Wharf, a development that by then was considered essential to the fabric of London. He gave it up in 2009.

Reichmann always lived humbly and austerely, in keeping with his ultra-Orthodox Jewish beliefs, even to the point of closing down his many development projects, and allowing no work there on the Sabbath.

"His accomplishments were titanic, just look at the Bank of Montreal building for example," said Tom Caldwell of Caldwell Securities. "Yes, he got bushwacked in Canary Wharf in England, but he came from a small business to play in the big leagues and he played it well. And he played it with dignity."


22.40 | 0 komentar | Read More

Canadian beef prices could fall as Tyson stops buying

One of the world's largest producers of meat says it will stop buying Canadian cattle because of the high cost of having to follow U.S. meat labelling rules.

The decision from Tyson Foods Inc. is expected to lead to a drop in prices for Canadian producers.

Martin Unrau, president of the Canadian Cattlemen's Association, says the decision is a huge blow to the industry.       

"The cattle we raise here are the exact same type of cattle that they raise in the U.S. under the same conditions. We are using the same products. So absolutely it's a trade barrier," Unrau told CBC News.

Tyson is the third-biggest buyer of Canadian cattle and bought about 150,000 head last year.

"Other American buyers certainly could follow suit, and that's a real concern for us," said Agriculture Minister Gerry Ritz, adding that the Tyson decision shows Canada has to diversify and find new markets.

"We have a 70 per cent reliance on the Americans for processing and for purchasing livestock. We need to move away from that, and, of course, by moving product now into the European theatre, just as soon as we get [the Canada-European Union free trade deal] ratified, certainly is the right way to go."

Canada is challenging the U.S. country-of-origin meat labelling policy with the World Trade Organization and in the U.S. courts.

The regulations track beef and pork through the meat processing and distribution systems and require labels that state where animals are born, where they are slaughtered and where they are packed.

Labels would include such information as "born, raised and slaughtered in the United States" for American meat. Cuts of meat from other countries could carry labels such as "born in Canada, raised and slaughtered in the United States."

Tyson said  it is disappointed with the U.S. rules that require labels on meat products to contain detailed information about where the products come from. It also means that meat coming from different countries has to be segregated in a warehouse and labelled differently, increasing costs for the meat packers.

"Unfortunately, we don't have enough warehousing capacity to accommodate the proliferation of products requiring different types of labels due to this regulation," Tyson spokesman Worth Sparkman wrote in an email.

"As a result, we have discontinued buying cattle shipped to our U.S. beef plants directly from Canada effective mid-October."

Sparkman said Tyson would continue buying Canadian calves for U.S. feedlots.

Cattle shipments to the U.S. were cut in half in the first year after the U.S. proposed country-of-origin labelling in 2008. There was a 58 per cent drop in slaughter hog exports.

In November, the rules become even more stringent. The Tyson decision worries Canadian feedlot operators.

"I wouldn't' say it's a death knell but it's a further strain on our industry at a time when we were looking for some relief," said Ben Thorlakson, who owns a feed yard near Airdrie, Alta.

"We have one fewer buyer and we only had five to start with … so it's just reduced the overall demand for our cattle … and therefore the prices are lower, but that's an overall effect of this country-of-origin labelling initiative."

The Canadian Cattlemen's Association is part of a coalition that is in the process of appealing a U.S. court ruling last month. That ruling rejected a request for an injunction against the latest version of the U.S. label policy, which is to go into effect in November.

The coalition argues the policy would be costly and offer no food safety or public health benefit.


22.40 | 0 komentar | Read More

Private contractor to take lead in fixing U.S. health insurance website

Written By Unknown on Sabtu, 26 Oktober 2013 | 22.39

Nearly a month into the dysfunctional rollout of the U.S. government's new health insurance website, Obama administration officials said Friday they have identified dozens of problems that need fixing and tapped a private company to take the lead in solving them.

Jeffrey Zients, a management consultant brought in by the White House to assess the extent of problems with the HealthCare.gov site, told reporters his review found issues across the entire system, which is made up of layers of components interacting in real time with consumers, government agencies and insurance company computers.

It will take a lot of work, but "HealthCare.gov is fixable," said Zients. The vast majority of the issues will be resolved by the end of November, he said, and there will be many fewer errors. He stopped short of saying the problems will go away completely.

QSSI promoted to general contractor

The administration also said it is promoting one of the website contractors, Quality Software Systems Inc., to take on the role of "general contractor" shepherding the fixes. QSSI was responsible for two components of the website, a major linchpin that works relatively well, and an accounts registration feature that froze and caused many of the initial problems.

HealthCare.gov was supposed to be the online portal for uninsured Americans to get coverage under President Barack Obama's health care law. Touted as the equivalent of Amazon.com for health insurance, it became a huge bottleneck immediately upon launch Oct. 1. The flop turned into an embarrassment for Obama and will likely end up as a case study of how government technology programs can go awry.

The briefing from Zients came a day after executives of QSSI and the other major contractor, CGI Federal, a subsidiary of Montreal-based CGI Group, told Congress that the government didn't fully test the system and ordered up last-minute changes that contributed to clogging the system. Next week, Health and Human Services Secretary Kathleen Sebelius is scheduled to testify.

Zients gave some new details about the extent of the problems, but administration officials are still refusing to release any numbers on how many people have successfully enrolled. Although 700,000 have applied for coverage through the new online markets, it's believed only a fraction of that number actually managed to sign up. Prior to the website going live, an administration estimate projected nearly 500,000 people would sign up in October alone.

Coverage deadline is Jan. 1

The marketplaces are the gateway to obtaining health insurance under the new health care law, which requires most Americans to have coverage by Jan. 1. Middle-class people who don't have insurance on the job can purchase a private plan with new tax credits to make the premiums more affordable. Low-income people will be steered to an expanded version of Medicaid in states that agree to extend the safety net program.

The federal government is running the insurance markets or taking the lead in 36 states. The rest were set up by states themselves.

Zeints said almost daily fixes are already having an impact. For example, over 90 per cent of users can now complete one of the first steps, creating an account.

But the application process, which involves submitting and verifying personal information and income details, remains "volatile," he said. At one point, as few as one-third of users were getting through that part.

Zients said there are two big categories of problems. Performance issues involve the speed and reliability of the website. Functional issues are bugs that keep the software from working as intended. He said the government has a "punch list" of needed fixes that add up to dozens in each broad category.

Near the top of the list: insurers are getting enrolments with incomplete, incorrect or duplicate information.

Concerns voiced to government

Until now, officials at the federal government's Centers for Medicare and Medicaid Services have taken the lead operational role on HealthCare.gov. The federal agency operate a successful e-commerce site for Medicare coverage, but it appears to have gotten in over its head when it comes to Obama's law. QSSI will now be responsible for the execution.

The company is a subsidiary of UnitedHealth Group, the nation's largest health insurer. It built a component of the website that's called the federal data hub and appears to be working relatively well. The hub is a conduit for verifying consumers' personal information.

An executive of the parent company, Andrew Slavitt, told Congress this week that QSSI had concerns about the federal website and relayed those to the government. Officials said the company's new role as "general contractor" will be an expansion of its current contract.


22.39 | 0 komentar | Read More

Loonie continues to fall on interest rate expectations

hi-loonie852-cp01516172

The Canadian dollar has fallen to a seven-week low against the U.S. dollar after the Bank of Canada indicated it will not move to hike interest rates in the next two years.

The Canadian dollar has fallen for the third straight day against the U.S. dollar, after the Bank of Canada moved Wednesday to lower expectations of an interest rate hike.

The loonie fell one-quarter of a cent to 95.70 cents US in early afternoon trading, a seven-week low, and is down a cent and a half so far this week.

On Wednesday, Bank of Canada governor Stephen Poloz indicated the bank is not expecting to raise rates any time soon, and that a cut to interest rates may be just as likely if economic conditions do not improve.

The bank also lowered its outlook for Canadian growth for the next three years, as Canadian exports have yet to pick up.

Andrew Pyle, senior wealth adviser and portfolio manager at Scotia McLeod, said he believes the loonie could hit 90 cents US by the end of the year.

Pyle noted Poloz's background as the head of Export Development Canada as another sign the bank wants to do what it can to lower the dollar and boost exports.

"I would bet right now that the Bank of Canada would like a little bit of juice from the currency, whether it's a two- to five-cent decline back towards 90 cents to get the export sector going and to get the economy going," Pyle said in an interview on CBC's Lang & O'Leary Exchange.

Other economists also see the dollar falling, but not as quickly. In a note, Capital Economics says it sees the Canadian dollar falling to 92 cents by the end of June next year.


22.39 | 0 komentar | Read More

World's first Bitcoin ATM goes live in Vancouver next week

Bitcoin Kiosk 20130908

The world's first Bitcoin kiosk, made by Robocoin, begins operation in Vancouver next week. (Robocoin/Canadian Press)

What's believed to be the first Bitcoin ATM in the world will go live next week in Vancouver, operated by Nevada-based Robocoin and Vancouver's Bitcoiniacs.

Mitchell Demeter, co-founder of Vancouver bitcoin trading company Bitcoiniacs and part-owner of Robocoin, has invested in five such machines to be placed across Canada.

Bitcoins are an emerging digital currency that isn't controlled by any authority such as a central bank. It's an idea that is moving into the mainstream, despite the scandal surrounding Silk Road, an anonymous online marketplace for illegal drugs and other illicit goods that used Bitcoins.

Silk Road was shut down and its owner arrested on narcotics charges earlier this month.

The new ATM, to operate near downtown Vancouver coffee house Waves, will trade Canadian dollars for online Bitcoins. Users are required to do a palm scan and are permitted to exchange up to $3,000 per a day.

Canadian cash is exchanged  on Canada's VirtEx exchange for Bitcoins, which are then entered in your online bitcoin wallet. Transactions will be anonymous.

The palm scan is to limit people to less than $3,000 worth of transactions, and avoid tangling with Canada's anti-money-laundering laws, says Demeter, who adds that he believes he is complying with all Canadian laws

Bitcoins currently trade for close to $200, but have swung widely in value from $13 to $250 in the past year. Until now, most have been traded person-to-person in individual transactions or through various unregulated exchanges that exist mostly online.

Last year, a bitcoin exchange in Europe, Bitcoin-Central, was authorized to operate as a bank.  Robocoin, which showed the ATMs at a California conference earlier this year, says the Vancouver ATM is the first to begin operation.

Bitcoiniacs says it's eyeing major Canadian cities such as Toronto, Montreal, Calgary and Ottawa for the other four machines, to come in December.

"Basically, it just make it easier for people to buy and sell Bitcoins and hopefully will drive the adoption of Bitcoin, and make it more accessible for people," Demeter told CBC News.

Bitcoins are mathematically generated through a series of commands executed by computers in a peer-to-peer network. The process is called Bitcoin "mining" and is set up so that the total number of Bitcoins that can ever be generated is limited to about 21 million.

While some have doubted Bitcoin's validity and others have raised concerns that the unregulated currency is being used for nefarious means, a U.S. judge ruled last month that Bitcoin, which has been around since 2009, is a real currency.


22.39 | 0 komentar | Read More

Paul Reichmann, real estate magnate, dies at 83

Once the head of the largest real estate development company in the world, which went bankrupt in 1992, Paul Reichmann died Friday in Toronto. He was 83.

The reclusive Reichmann brothers built Olympia & York into a major international development firm after starting out as a small company marketing flooring and tile in Toronto.

The five Reichmann brothers were the sons of Orthodox Hungarian Jews who fled central Europe during the Second World War.

Older brother Edward started Olympia Flooring and Tile in Montreal and was joined in Canada by Paul, Albert, Louis and Ralph. After the brothers began a small company in Toronto, Paul Reichmann was the force who parlayed it into a global real estate empire.  

Their developments included First Canadian Place in Toronto, the World Financial Center (right next to the World Trade Center in New York), and Canary Wharf in London.

Escaped the Nazis

Paul Reichmann was born in Vienna in 1930, where his father, Samuel, had his business at the time. His mother's name was Renée.

Paul Reichmann 19890313

Paul Reichmann is shown in London in 1989. He was the driving force behind the huge Canary Wharf development in the British capital. (Canadian Press)

By sheer luck, in 1938, the family was visiting Paul's grandfather in Hungary when the Nazis occupied Austria and annexed it with Germany.

They settled in Paris for a time, but by 1940, the Nazis were there too. Late in life, Reichmann could still remember the Nazi bombing of refugees south of Paris.

The family moved to Tangier in Morocco, where they prospered, as his father became a successful currency trader.

When the war ended, Paul studied religion in Britain and Israel, and became a rabbi. In 1953, he went back to Morocco and became a shirt retailer. That same year he married Lea Feldman.

In 1956, Paul joined his brother Edward in Montreal. Then, joined by brothers Albert and Ralph, they started a development business in Toronto.

Flemingdon Park in Toronto

Initially, they built warehouses and commercial buildings. Their first major project was the development of Flemingdon Park in Toronto's Don Mills neighbourhood.

In 1971, they advanced right into the heart of Toronto's financial district and won the contract to build what was then Canada's tallest building, First Canadian Place, at King and Bay streets.

By the 1980s, Olympia & York was the largest property development firm in the world, having bought a portfolio of skyscrapers in New York.

"He seemed to have this extraordinary knack of being able to see value where other people couldn't see it, and also extracting value from the buildings he built by financing them in creative ways and raising money to go on to bigger and better things," said Peter Foster, the author of the 1993 book, Towers of Debt: The Rise and Fall of the Reichmanns.

In 1980, they got 50-per-cent control of Brinco Ltd., a natural resources development company in Newfoundland and Labrador. The next year they bought an 82-per-cent controlling interest in Abitibi-Price Inc., and they held a significant share of Royal Trust Company. In 1985, they bought Gulf Canada Resources Ltd.

Along the way, they had acquired English Property Corp., one of the largest developers in Britain. That was the company that enabled them to build Canary Wharf in east London, at once their greatest achievement and their greatest failure.

The crucible of Canary Wharf

The largest real estate development in the world at the time, it boasted Britain's tallest building, One Canada Square.

It was Reichmann's vision (only now coming to fruition) that it would be a kind of Wall Street of London and successfully compete with the city's historic financial district known as the City.

But by the time it was finished in 1992, the London commercial property market had collapsed, bringing down Olympia & York.  In March of that year, Reichmann was forced to resign as president.

When it filed for bankruptcy in May 1992, Olympia & York owed more than $20 billion US to various banks and investors. It was closed down in 1993, and the Reichmanns were left with a small firm, Olympia & York Properties Corp.

What went wrong?

There are several theories about what went wrong with Paul Reichmann's judgment when he embarked on the Canary Wharf enterprise.

His reliance on his own business instincts may have led him astray, claims Foster.

According to the president of Canary Wharf, George Iacobescu, the Iron Lady herself, Margaret Thatcher, had personally called to ask Olympia & York to take on the development, and she promised that the Jubilee Line of the London Underground would be extended to speed up the trip to Canary Wharf from central London.

That promise was key to the development's success. But the line was not extended in her time. It opened only in 2000, long after the demise of Olympia & York.

Paul Reichmann was famous for sealing deals with a handshake and not bothering with corporate lawyers, and he always kept his word. He may have thought Thatcher would do the same thing.

Remained a wealthy man

The Olympia & York bankruptcy did not leave Reichmann poor by any means. In 2011 he was still listed among the richest Canadians. At number 30 on the list, his net worth was given as $1.83 billion, and that was up slightly from the year before.

In his usual secretive manner, Paul had continued with canny investments. For instance, he owned 70 per cent of Central Park Lodges, which in 1999 operated 74 retirement homes, 63 in Canada, the rest in the U.S., according to the National Post.

He was also involved in a $107-million project in Israel, according to the Jerusalem Post newspaper.

His company, IPC Jerusalem Ltd., built a five-star hotel and luxury condominium, called The Palace Jerusalem — The Waldorf Astoria Collection.

In 2004, he again bought a controlling stake in Canary Wharf, a development that by then was considered essential to the fabric of London. He gave it up in 2009.

Reichmann always lived humbly and austerely, in keeping with his ultra-Orthodox Jewish beliefs, even to the point of closing down his many development projects, and allowing no work there on the Sabbath.

"His accomplishments were titanic, just look at the Bank of Montreal building for example," said Tom Caldwell of Caldwell Securities. "Yes, he got bushwacked in Canary Wharf in England, but he came from a small business to play in the big leagues and he played it well. And he played it with dignity."


22.39 | 0 komentar | Read More

Canadian beef prices could fall as Tyson stops buying

One of the world's largest producers of meat says it will stop buying Canadian cattle because of the high cost of having to follow U.S. meat labelling rules.

The decision from Tyson Foods Inc. is expected to lead to a drop in prices for Canadian producers.

Martin Unrau, president of the Canadian Cattlemen's Association, says the decision is a huge blow to the industry.       

"The cattle we raise here are the exact same type of cattle that they raise in the U.S. under the same conditions. We are using the same products. So absolutely it's a trade barrier," Unrau told CBC News.

Tyson is the third-biggest buyer of Canadian cattle and bought about 150,000 head last year.

"Other American buyers certainly could follow suit, and that's a real concern for us," said Agriculture Minister Gerry Ritz, adding that the Tyson decision shows Canada has to diversify and find new markets.

"We have a 70 per cent reliance on the Americans for processing and for purchasing livestock. We need to move away from that, and, of course, by moving product now into the European theatre, just as soon as we get [the Canada-European Union free trade deal] ratified, certainly is the right way to go."

Canada is challenging the U.S. country-of-origin meat labelling policy with the World Trade Organization and in the U.S. courts.

The regulations track beef and pork through the meat processing and distribution systems and require labels that state where animals are born, where they are slaughtered and where they are packed.

Labels would include such information as "born, raised and slaughtered in the United States" for American meat. Cuts of meat from other countries could carry labels such as "born in Canada, raised and slaughtered in the United States."

Tyson said  it is disappointed with the U.S. rules that require labels on meat products to contain detailed information about where the products come from. It also means that meat coming from different countries has to be segregated in a warehouse and labelled differently, increasing costs for the meat packers.

"Unfortunately, we don't have enough warehousing capacity to accommodate the proliferation of products requiring different types of labels due to this regulation," Tyson spokesman Worth Sparkman wrote in an email.

"As a result, we have discontinued buying cattle shipped to our U.S. beef plants directly from Canada effective mid-October."

Sparkman said Tyson would continue buying Canadian calves for U.S. feedlots.

Cattle shipments to the U.S. were cut in half in the first year after the U.S. proposed country-of-origin labelling in 2008. There was a 58 per cent drop in slaughter hog exports.

In November, the rules become even more stringent. The Tyson decision worries Canadian feedlot operators.

"I wouldn't' say it's a death knell but it's a further strain on our industry at a time when we were looking for some relief," said Ben Thorlakson, who owns a feed yard near Airdrie, Alta.

"We have one fewer buyer and we only had five to start with … so it's just reduced the overall demand for our cattle … and therefore the prices are lower, but that's an overall effect of this country-of-origin labelling initiative."

The Canadian Cattlemen's Association is part of a coalition that is in the process of appealing a U.S. court ruling last month. That ruling rejected a request for an injunction against the latest version of the U.S. label policy, which is to go into effect in November.

The coalition argues the policy would be costly and offer no food safety or public health benefit.


22.39 | 0 komentar | Read More

Twitter shares to be priced at $17-$20 US

Written By Unknown on Jumat, 25 Oktober 2013 | 22.39

IPO prices values social media company at about $12.5B US

The Associated Press Posted: Oct 24, 2013 5:03 PM ET Last Updated: Oct 25, 2013 9:52 AM ET

Twitter has set a price range of $17 to $20 US per share for its much-anticipated initial public offering and says it could raise as much as $1.6 billion US in the process.

Twitter Inc. said in a regulatory filing Thursday that it is putting forth 70 million shares in the offering. If those are sold, the underwriters can buy another 10.5 million shares. At the $20 share price, Twitter's market value is around $12.5 billion.

That's a relatively conservative number — some analysts had expected that figure to be as high as $20 billion. The caution shows that Twitter learned from Facebook's rocky initial public offering last year.

twitter-614

A Twitter filing shows it will sell 70 million shares at $17 to $20 a share. (CBC)

Not surprisingly, Twitter's IPO will be much smaller than Facebook's, which was marred by technical glitches on the Nasdaq stock exchange. Those problems likely led Twitter to choose the New York Stock Exchange for its IPO.

The San Francisco-based short-messaging service plans to list its stock under the ticker symbol "TWTR" on the New York Stock Exchange. The shares will likely start trading in the next few weeks but the official date has yet to be announced.

Comments on this story are pre-moderated. Before they appear, comments are reviewed by moderators to ensure they meet our submission guidelines. Comments are open and welcome for three days after the story is published. We reserve the right to close comments before then.

Submission Policy

Note: The CBC does not necessarily endorse any of the views posted. By submitting your comments, you acknowledge that CBC has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that comments are moderated and published according to our submission guidelines.

Stay Connected with CBC News

Advertisment

Latest Business Headlines

TSX COMPOSITE

Oct 25, 2013 11:15 AM ET Oct 25, 2013 11:15 AM ET Oct 25, 2013 11:15 AM ET Oct 25, 2013 11:20 AM ET Oct 25, 2013 11:15 AM ET

Index Last Trade Change
TSX COMPOSITE 13336.97 12.22
DOW 15531.23 22.02
NASDAQ 3940.84 11.88
SP 500 1754.97 2.90
TSX-VENTURE 972.68 -0.02

The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.

Advertisment


22.39 | 0 komentar | Read More

Mackenzie Valley pipeline facing possible revival

There are growing signs that the stalled Mackenzie Valley pipeline project could get a new lease on life.

The federal government has quietly dusted off a $500-million socio-economic fund that would kick in if the project goes ahead. The Mackenzie Gas Projects Impact Fund was set up in 2006 but has remained dormant. It was included and updated in this week's budget implementation act.

The fund is not operational yet, but the timing means it's ready to go if construction starts on the pipeline.

Development of northern resources has been priority for Prime Minister Stephen Harper since he was elected in 2006. His government in 2009 set up the Canadian Northern Economic Development Agency (CanNor), for which Environment Minister Leona Aglukkaq is responsible.

The government "is committed to fostering a strong, prosperous and dynamic northern economy," Aglukkaq's office said in a written response to questions from CBC News.

"Should the CanNor minister be named responsible at some point for the fund, as the regional economic development agency for the North, the agency is well-positioned to deliver this fund on behalf of northern communities."

At the same time, there are signs the project may be commercially viable.

Imperial Oil and its partners are looking at options to turn the 1,200-kilometre northern gas pipeline into an liquefied natural gas project. LNG, as it is often called, is natural gas that's cooled to -162 C. This shrinks the volume of the gas by 600 times, making it easier to store and ship.

"As we look at strategic options for the Mackenzie resource one of the things we are looking at is … could gas from the Mackenzie potentially play a role in an LNG development scenario?" said Imperial spokesman Pius Rolheiser.

Imperial and its partners, Royal Dutch Shell, ConocoPhillips, Exxon Mobil and the Aboriginal Pipeline Group, received final approval from the National Energy Board in 2011 for the $16.2 billion project after more than six years of regulatory review. The pipeline was originally designed to carry natural gas down the Mackenzie Valley to Alberta and the U.S.

A glut in natural gas and slumping prices put the project on hold.

But earlier this year, Imperial and its majority partner Exxon Mobil Corp. applied for an LNG export permit from a future terminal in either Kitimat or Prince Rupert, B.C. The companies would draw from the gas fields they own in Canada, like those in the Mackenzie Delta.

Eyeing the Asian market

"So in our assessment of a potential LNG project, one of the things we are looking at is, could gas from the Mackenzie Delta play a role in an LNG scenario?" said Rolheiser in an interview from Calgary. "But at this point we are in the early stages and we have not made any decisions on that."

Map: MacKenzie Valley

(CBC)

The main forces behind this burst of activity are price and timing. Imperial has to report to the NEB on its decision to construct the pipeline by the end of this year and must provide an updated cost estimate. It has to start construction by the end of 2015.

And there is a growing market in Asia for liquid natural gas. While Rolheiser emphasizes that a decision has not been made, a source close to the project says the LNG option is very much in play.

"We are looking at all options here and there is more than one option for this pipeline," said the source.

Natural Resources Minister Joe Oliver just got back from a trip to China and South Korea, where he spent a lot of time talking about LNG. He says Canada's natural gas resources are an "immense economy opportunity that can benefit all Canadians."

And the pipeline would help tap that potential.

"That is why we are supportive of this important resource development opportunity, with a focus on supporting jobs, economic growth, environmental protection and constructive relationships with First Nations communities," Oliver wrote in an email to CBC News Thursday.

Support in N.W.T.

All this is very good news for the Northwest Territories that has been holding out hope for the on-again, off-again pipeline since the 1970s.

"We are hearing that the proponents are interested in seeing the Mackenzie gas get to market, which is a very positive sign for us, with a resource that has been stranded in the Mackenzie delta for forty years," said N.W.T. Industry Minister David Ramsay.

Ramsay said he has not officially heard that the project is definitely going ahead, but he's optimistic.

"Any talk of us getting a resource like to that to market is something we are encouraged to hear," he said in an interview from Yellowknife.

Ramsay said he hopes to get more details in early November.

The majority of people in the territory support the project because of the economic development it would bring. Aboriginal groups own one-third of it as part of the Aboriginal Pipeline Group.

While Imperial won't speculate on chances of the pipeline carrying LNG, Rolheiser notes the company has spent considerable time and money on this project and doesn't want to squander it.

"We made a significant investment in terms of our relationship with the people of the North as represented by the Aboriginal pipeline group and that is a terribly important asset to us," he said. 


22.39 | 0 komentar | Read More

More small businesses using social media, study says

The Canadian Press Posted: Oct 25, 2013 8:37 AM ET Last Updated: Oct 25, 2013 8:37 AM ET

Stay Connected with CBC News

Advertisment

Latest Business Headlines

TSX COMPOSITE

Oct 25, 2013 11:15 AM ET Oct 25, 2013 11:15 AM ET Oct 25, 2013 11:15 AM ET Oct 25, 2013 11:20 AM ET Oct 25, 2013 11:15 AM ET

Index Last Trade Change
TSX COMPOSITE 13336.97 12.22
DOW 15531.23 22.02
NASDAQ 3940.84 11.88
SP 500 1754.97 2.90
TSX-VENTURE 972.68 -0.02

The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.

Advertisment


22.39 | 0 komentar | Read More

Wildly popular BBM chat service to remain free

Millions of Apple and Android users who are enjoying what some have called BlackBerry's "forbidden fruit" can rest easy with the knowledge that BBM, the company's mobile instant messaging chat service, will remain free for the foreseeable future. 

"It's definitely a free service," Andrew Bocking, executive vice-president of BBM for BlackBerry told The Morning Edition host Craig Norris Friday. "We have other ideas on how to monetize that service."

Bocking said BBM will turn a profit through a combination of marketing and advertising through some yet-to-be-launched features, such as BBM Channels.

BBM Channels is a social networking feature currently in beta testing. Once up and running, it would allow users to amass followers and share content as well as allow BlackBerry to tailor and target ads towards individual users.

"We continue to plan to evolve the service and keep making it more engaging and have more reasons why people will come back to use the service," said Bocking. 

Video and voice chatting services for BBM, which are currently available to BlackBerry users only, is also coming soon to the Apple and Android platforms "within months," Bocking said. 

The launch of BBM on competing platforms has been largely seen by analysts as an attempt to secure new revenue streams for BlackBerry as it tries to regain its footing in a global smartphone market that many credit the Waterloo-based technology company for inventing.  

"This is one we're definitely investing in, this is definitely one of our key strategies, but it's one of many," he said. 

Until this week, BBM was only available to BlackBerry users and the buzz surrounding BBM's launch has been considerable, with six million users pre-registering for the app. 

On Tuesday, BlackBerry boasted that its BBM app had been downloaded 10 million times on Apple and Android devices in the first 24 hours after its launch.


22.39 | 0 komentar | Read More

Loonie continues to fall on interest rate expectations

hi-loonie852-cp01516172

The Canadian dollar has fallen to a seven-week low against the U.S. dollar after the Bank of Canada indicated it will not move to hike interest rates in the next two years.

The Canadian dollar has fallen for the third straight day against the U.S. dollar, after the Bank of Canada moved Wednesday to lower expectations of an interest rate hike.

The loonie fell two-tenths of a cent to 95.72 cents US, a seven-week low, and is down a cent and a half so far this week.

On Wednesday, Bank of Canada governor Stephen Poloz indicated the bank is not expecting to raise rates any time soon, and that a cut to interest rates may be just as likely if economic conditions do not improve.

The bank also lowered its outlook for Canadian growth for the next three years, as Canadian exports have yet to pick up.

Andrew Pyle, senior wealth adviser and portfolio manager at Scotia McLeod, said he believes the loonie could hit 90 cents US by the end of the year.

Pyle noted Poloz's background as the head of Export Development Canada as another sign the bank wants to do what it can to lower the dollar and boost exports.

"I would bet right now that the Bank of Canada would like a little bit of juice from the currency, whether it's a two- to five-cent decline back towards 90 cents to get the export sector going and to get the economy going," Pyle said in an interview on CBC's Lang & O'Leary Exchange.

Other economists also see the dollar falling, but not as quickly. In a note, Capital Economics says it sees the Canadian dollar falling to 92 cents by the end of June next year.


22.39 | 0 komentar | Read More

Bangladesh garment workers to get compensation from Loblaw

Written By Unknown on Kamis, 24 Oktober 2013 | 22.39

Families to get long-term help and salary of 3 months immediately

CBC News Posted: Oct 24, 2013 8:34 AM ET Last Updated: Oct 24, 2013 8:45 AM ET

Close

Canadian link to Bangladesh factory collapse 4:04

Canadian link to Bangladesh factory collapse 4:04

Close

Canadian connection to Bangladesh factory fire 3:16

Canadian connection to Bangladesh factory fire 3:16

Close

Garment worker abuse in Bangladesh 3:14

Garment worker abuse in Bangladesh 3:14

External Links

(Note: CBC does not endorse and is not responsible for the content of external links.)

Loblaw announced today it will provide long-term compensation to victims and their families in the Rana Plaza garment factory collapse in Bangladesh that killed more than 1,100 workers six months ago.

The company will also pay three months in wages to all workers at New Wave Style, the company that makes its Joe Fresh clothes. The money "will assist in financial needs until long-term funds begin to flow," Loblaw said.

The factory made clothes for Loblaw and other companies in the clothing industry.

The company said it supports a proposal by U.K. clothing retailer Primark for funding compensation to clothing-factory victims. It also encouraged other brands that had clothing manufactured at Rana Plaza to take part.

"Should the other brands not step forward and join in this funding, we will join Primark and immediately contribute to the payment of three months wages for the approximately 3,600 individuals involved, regardless of the brand apparel that was being produced in their workplace," a statement said.

An investigation by CBC's the fifth estate found earlier this month that dangerous working conditions remain widespread in the Bangladesh garment industry.

The industry continues to supply major retailers in Canada such as Loblaw and Wal-Mart.

Comments on this story are pre-moderated. Before they appear, comments are reviewed by moderators to ensure they meet our submission guidelines. Comments are open and welcome for three days after the story is published. We reserve the right to close comments before then.

Submission Policy

Note: The CBC does not necessarily endorse any of the views posted. By submitting your comments, you acknowledge that CBC has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that comments are moderated and published according to our submission guidelines.

Stay Connected with CBC News

Advertisment

Latest Business Headlines

TSX COMPOSITE

Oct 24, 2013 11:15 AM ET Oct 24, 2013 11:15 AM ET Oct 24, 2013 11:15 AM ET Oct 24, 2013 11:20 AM ET Oct 24, 2013 11:15 AM ET

Index Last Trade Change
TSX COMPOSITE 13307.31 63.99
DOW 15492.82 79.49
NASDAQ 3923.79 16.72
SP 500 1750.40 4.02
TSX-VENTURE 972.58 5.71

The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.

Advertisment


22.39 | 0 komentar | Read More

Rogers earnings rise 1%, beating expectations

Rogers Communications Inc. (TSX:RCI.B) says its third-quarter adjusted net income was up one per cent from last year, rising to $501 million — slightly ahead of expectations.

That profit amounted to 97 cents per share on a diluted basis, up from 96 cents or $495 million in the third quarter of 2012.

Analysts had projected Rogers would have 96 cents per share of adjusted earnings, according to Thomson Reuters estimates.

The telecom and media company's operating revenue grew two per cent to $3.22 billion from $3.18 billion in the third quarter of 2012.

tp-rogers-wireless

Rogers reported Q3 earnings of $501 million, ahead of analyst expectations and up 1 per cent from the same time last year.

Rogers' overall revenue was slightly below estimates as its wireless sector experienced a two per cent decline from last year, dropping to $1.85 billion from $1.89 billion.

The company says the decline in wireless revenue was due to lower-priced roaming plans introduced this year, and if those roaming plans are removed from the equation, revenue in its wireless division actually increased by 1 per cent.

The company has Canada's largest base of wireless subscribers, operating the Rogers, Fido and Chatr brands.

The softness in wireless was partially offset by higher cable revenue, up four per cent to $873 million, and higher media revenue, up 12 per cent to $440 million.

Net income under standard accounting was $464 million, or 90 cents per share, essentially flat from a year earlier when it was $466 million, or 90 cents per share.


22.39 | 0 komentar | Read More

T-Mobile offers U.S. tablet owners free data service

Apple Event

An Apple employee demonstrates the new iPad Mini on Tuesday, Oct. 22, 2013, in San Francisco. Apple unveiled a new, thinner, lighter tablet called the "iPad Air" and the iPad Mini with Retina Display, along with a slew of new Macs Tuesday at an event in San Francisco. (AP Photo/Marcio Jose Sanchez) (The Associated Press)

Wireless provider T-Mobile will give U.S. owners of iPads and other tablet computers free data service for life as part of an effort to broaden its customer base beyond phones.

The free service would be limited to 200 megabytes of high-speed data per month — enough to upload about 800 Instagram photos or listen to more than three hours of streaming music, the company said.

T-Mobile US Inc. said the free service comes with no obligations, but the company expects people will want to buy plans for additional data once they grow accustomed to having it.

People typically buy tablet computers that access the internet using Wi-Fi only. Models with 4G LTE cellular access typically cost $100 to $130 more, but T-Mobile marketing chief Mike Sievert said many people are reluctant to purchase cellular-enabled tablets for fear they would be stuck with monthly data service costs.

By guaranteeing free data service, he said, T-Mobile is hoping to encourage people to buy LTE tablets.

Branding as 'Un-Carrier'

The latest offer, announced Wednesday, comes as the company tries to shatter longstanding industry practices and brand itself as the Un-Carrier.

In March, the company dropped conventional two-year service contracts in favour of selling phones with installment plans. In July, it introduced a program that lets people upgrade phones more frequently — up to twice a year. This month, the company eliminated data and texting fees in more than 100 countries and capped charges for international voice calls.

There are signs the efforts are working. In the April-June quarter, T-Mobile gained long-term, good-credit customers for the first time in at least two and a half years. T-Mobile added a net 688,000 such customers in the quarter, compared with a loss of 557,000 in the same period a year earlier.

The net increase includes 3,000, or less than 0.5 per cent, for non-phone service such as tablets. T-Mobile officials believe there's room for further growth.

All tablets eligible

All tablet computers, including Apple's iPad, Google's Nexus 7 and Amazon's Kindle Fire, are eligible for the offer as long as they work on T-Mobile's network. Sievert said most tablets do.

The new iPads announced Tuesday are universal models, meaning they will work on various LTE networks around the world. Previously, Apple sold separate models compatible with a subset of networks.

Tablet owners will need to buy a SIM card that costs about $10 US.

T-Mobile said it will sell iPads under installment plans, but people who buy tablets elsewhere will qualify as well.

The free access is limited to the United States.

For $10 a month, T-Mobile phone customers can buy an additional 500 megabytes of high-speed data in the U.S. and unlimited data at slower speeds. That plan also comes with unlimited data at the slower speeds in more than 100 countries. Non-phone customers can pay $20 a month for the same plan. There's no contract, so people can sign up for a month at a time. There are also daily and weekly options.

At rival AT&T, monthly plans start at $15 for 250 megabytes. The company recently introduced $5 day passes, which it says is ideal for travellers looking for an alternative to Wi-Fi hotspots. That's good for 250 megabytes. AT&T also has a new $25 plan offering 1 gigabyte over a three-month period. 20:20ET 23-10-13


22.39 | 1 komentar | Read More
techieblogger.com Techie Blogger Techie Blogger