Osheaga organizers have taken some last-minute measures to control the sound emanating from the music festival taking place this weekend onÂ l'Ă®leÂ Notre-Dame. The city of Saint-Lambert had threatened to sue the city of Montreal and theÂ Ville-Marie borough if the decibel levels from the festival were too high. People living in Saint-Lambert, located just across the river fromÂ ParcÂ JeanÂ Drapeau, said theyâ€™re fed up with the noise and have likened the situation to havingÂ a noisy neighbour who holds wild parties every weekend throughout the summer.Â
Prime Minister Benjamin Netanyahu said Thursday that Israel will destroy the Hamas tunnel network in the Gaza Strip "with or without a cease-fire," as the military called up another 16,000 reservists to pursue its campaign in the densely-populated territory. Netanyahu's vow came as international efforts to end the 23-day-old conflict seemed to sputter despite concern over the mounting death toll, with more than 1,300 Palestinians, mostly civilians, and more than 50 Israelis, almost all of them soldiers, killed since July 8. "We have neutralized dozens of terror tunnels and we are committed to complete this mission, with or without a cease-fire," Netanyahu said. An initial Israeli aerial campaign against Hamas was widened into a ground offensive on July 17.
TORONTO (Reuters) - Canada's main stock index opened lower on Thursday as an Argentine default kindled worries about the stability of the economic recovery in the region and shares of Valeant Pharmaceuticals fell after the company cut its outlook. The Toronto Stock Exchange's S&P/TSX composite index was down 48.05 points, or 0.31 percent, at 15,476.77 shortly after the open. (Reporting by John Tilak; Editing by James Dalgleish)
Statistics Canada says the country's economic output increased in May by 0.4 per cent. It was the fifth consecutive monthly rise in the real gross domestic product and came in better than was expected. Economists had expected a gain of 0.3 per cent, according to Thomson Reuters. Statistics Canada says wholesalers and retailers saw noticeable increases, along with the transportation and real estate sectors, warehousing services and professional services.
Target Corp appointed former PepsiCo Inc executive Brian Cornell as CEO and chairman as it tries to regain customer confidence following a devastating data breach that hurt the retailer's earnings and reputation. Cornell, 55, will be responsible for accelerating Target's performance and developing its e-commerce business, the No. 3 U.S. retailer said on Thursday. His top priorities when he takes over on Aug. 12 will also include improving traffic and sales at Target's U.S. and Canada stores, spokesperson Dustee Jenkins told Reuters. Target removed Gregg Steinhafel, CEO since 2008, in May after a data breach during the key holiday season led to the theft of at least 40 million payment card numbers and 70 million other pieces of customer data.
By Sarah Marsh BUENOS AIRES (Reuters) - Argentina defaulted for the second time in 12 years after last-ditch talks with what it called "vulture" creditors failed, though debt insurance prices on Thursday suggested investors believed a deal could eventually be reached. After a long legal battle with hedge funds that rejected Argentina's debt restructuring following a 2002 default, Latin America's third-biggest economy failed to strike a deal in time to meet a midnight payment deadline. Any such ruling would set off a series of insurance payments and give most of Argentina's current bondholders the right to demand their money back immediately. The cost of insuring Argentina's debt against default fell sharply on Thursday, however, data provider Markit said, as investors speculated a deal could be struck, even if only in the long term.
An international team of investigators in eastern Ukraine on Thursday reached the crash site of the Malaysia Airline Flight 17 for the first time. Fighting along the route to the wreckage site between government troops and pro-Russian separatist rebels had for several days kept the delegation from reaching the area. Sergei Izvolsky told the AP that a delegation of Russian specialists from Rosaviatsiya was due in Kyiv Thursday to participate in the investigation. Continuing fighting has hindered access to the crash site, located in rebel-controlled territory in east Ukraine.
(Reuters) - ConocoPhillips, the largest U.S. independent oil and gas company, on Thursday reported a quarterly profit that just beat Wall Street expectations, helped by an increase in oil and gas production. Excluding one-time items, Conoco's profit was $1.61 per share. Analysts, on average, expected $1.60, according to Thomson Reuters I/B/E/S. The Houston company's oil and natural gas output from continuing operations was 1.56 million barrels oil equivalent per day (boed) in the quarter, up from 1.51 million boed a year earlier.
By Megan Davies, Vladimir Soldatkin and Gilbert Reilhac MOSCOW/STRASBOURG (Reuters) - Europe's top human rights court awarded shareholders in Yukos 1.9 billion euros ($2.6 billion) in damages on Thursday, a new blow to Russia days after some of the former oil company's shareholders won $50 billion in The Hague. The Strasbourg-based court found that Russia had failed to "strike a fair balance" in its treatment of Yukos, once run by former oligarch Mikhail Khodorkovsky, and had forced the company to pay excessive fees.