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Updated: 25 min 14 sec ago

Tesco scraps profit outlook as accounting black hole deepens

44 min 45 sec ago

By James Davey and Neil Maidment LONDON (Reuters) - Tesco reported a bigger than expected hole in its accounts on Thursday after finding mistakes in booking income had gone back further than initially thought, forcing Britain’s biggest grocer to scrap its full-year profit outlook. Tesco, which has lost 20 percent of its market value this month after the accounting mis-statement compounded three earlier profit warnings, scrapped the outlook as its second-quarter underlying domestic sales fell 5.5 percent. Tesco shares dropped sharply at the open, down 4.5 percent in the first minutes of ...

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Canada PM vows crackdown after capital shocked by fatal attacks

51 min 51 sec ago

By David Ljunggren and Leah Schnurr OTTAWA (Reuters) - Canadian Prime Minister Stephen Harper vowed to redouble the country's fight against "terrorist organizations" abroad after a reported convert to Islam rampaged through parliament, shocking the usually tranquil capital city. Shortly after a gunman shot dead a soldier at the National War Memorial in central Ottawa on Wednesday morning, a man armed with a shotgun burst into the Center Block of Parliament, pursued by police. He died after dozens of shots rang out a few yards away from where Harper was talking to his legislators. ...

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Finland's Nokia beats market expectations in third-quarter

59 min 16 sec ago

By Jussi Rosendahl HELSINKI (Reuters) - Finland's Nokia on Thursday beat market expectations as it reported strong third-quarter profit growth and lifted the profitability outlook for its core network unit on the back of network roll-outs in North America and China. The network unit showed a core operating profit margin of 13.5 percent, up from 11.0 percent in the second quarter and topping analysts' average forecast of 9.9 percent in a Reuters poll. ...

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Chinese trainmakers set to go head to head for California deal

1 hour 13 min ago

SHANGHAI (Reuters) - China's CSR Corp Ltd is keen to supply high-speed trains to California, a company official said, in a move that will pit the trainmaker against domestic rival China CNR Corp Ltd. China has made no secret of its desire to export its high-speed technology abroad, having built over 12,000 kilometers of track at home in less than a decade. CNR and CSR are China's top locomotive makers, while China Railway Construction Corp Ltd and China Railway Group Ltd build track. U.S. ...

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War Memorial victim ID'd as Hamilton corporal, dog lover and outdoorsman

2 hours 3 min ago

A soldier shot and killed in Ottawa on Wednesday was a reservist who was only on a short-term posting at the National War Memorial.

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Exclusive: U.S. stock options markets agree to need for trading halts on big moves

2 hours 22 min ago

By John McCrank NEW YORK (Reuters) - U.S. options market operators have agreed in recent months on the need for new automatic trading halts when stock options prices suddenly surge or plunge, in a bid to reduce excess volatility and blunt the impact of erroneous trades, according to five sources with knowledge of their discussions. The plan, which takes its cue from a rule known as "Limit Up/Limit Down" that U.S. ...

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Buffett copycats risk a pounding as Berkshire portfolio suffers

2 hours 29 min ago

By Luciana Lopez NEW YORK (Reuters) - It's not been a good time for Warren Buffett wannabes. Sharp drops in many of the stocks owned by Buffett's Berkshire Hathaway in recent weeks hit the sprawling conglomerate's equity portfolio hard. The loss on seven of those holdings alone totals more than $5 billion provided Berkshire's stakes have remained the same since June 30, the last date for which they were disclosed. In particular, Berkshire's been stung by large holdings in IBM and long-time Buffett favorite Coca-Cola, both of which tumbled after disappointing third-quarter results. ...

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Bond funds stock up on Treasuries in prep for market shock

2 hours 39 min ago

By Tim McLaughlin BOSTON (Reuters) - U.S. corporate bond funds this year are adding Treasuries to their holdings at more than twice the rate of corporate debt amid concern that the struggling European economy and potential changes in Federal Reserve policy will drag down profits at U.S. corporations. Through September, corporate bond portfolios boosted their holdings of U.S. government debt by 15 percent, compared with a 6.5 percent increase in corporate bonds during the same period, according to Lipper Inc data. The funds now hold about $13 billion in Treasuries, 15 percent more than the $11. ...

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Arab Idol winner Mohammed Assaf says he wants to give back to his home, Gaza, with arts centre

3 hours 35 min ago

GAZA, Palestinian Territories - Last year's feel-good winner of the TV singing contest Arab Idol said Wednesday he wants to give back to Gaza, where he grew up, by setting up an arts centre nurturing young musicians, writers and actors.

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Online financing, rising costs squeeze profits at China's midsize banks

Wed, 10/22/2014 - 23:30

By Engen Tham and Lawrence White SHANGHAI/HONG KONG (Reuters) - Squeezed between cut-throat competition from online financing firms and rising funding costs, China's midsize banks are falling out of investors' favor as they increasingly lag behind the country's top five lenders. While margins generated from lending have remained broadly stable at the larger banks, they have shrunk considerably for the second-tier lenders like China Everbright Bank and China Merchants Bank over the past six months, a Reuters data analysis shows. ...

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Edmonton well-prepared to manage threat, says EPS

Wed, 10/22/2014 - 23:14

Following a day of drama and tension in the nation’s capital, Edmonton’s police service is reassuring citizens they are not in imminent danger. Calling the events in Ottawa "a senseless act of unprovoked violence," Deputy Chief Danielle Campbell said the EPS members’ thoughts and prayers are with those affected. Campbell said police here have “not received any information to suggest that there is an imminent threat in the Edmonton region at this time.”

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Edmonton jury selection process to be reviewed

Wed, 10/22/2014 - 21:46
A full week has been set aside next March to challenge the way juries are selected in Edmonton. Earlier this month, the lawyer for Jeremy Newborn made an application challenging the way a jury pool was brought together, saying it included no aboriginal people. Newborn, a man of aboriginal descent, is accused in a fatal beating on Edmonton’s LRT in late 2012.
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Eaton Centre shooting witness testifies in court

Wed, 10/22/2014 - 20:52
A man who was with his daughter in the Eaton Centre food court during a deadly shooting in 2012 testified Wednesday that the experience greatly affected him afterward. "It's just emotional right now," said Elvis Fraser after testifying at the trial of Christopher Husbands. On June 2, 2012, Fraser took his daughter shopping at the Eaton Centre.
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Parks Canada using old Christmas trees to protect sand dunes

Wed, 10/22/2014 - 20:45

Parks Canada has found an interesting way to protect sand dunes using discarded Christmas trees. Piles of old Christmas trees are stacked up along Brackley Beach to fill in what are known as blow out areas where sand has drifted away. Kim Grant is the public outreach officer with Parks Canada and says the trees act like a net catching the sand and help rebuild the dune.

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Ottawa shooting: Dash cam video appears to show Parliament Hill shooter Michael Zehaf-Bibeau

Wed, 10/22/2014 - 19:43
Video from a dashboard camera appears to show the gunman in the Ottawa shooting leaving the National War Memorial and getting into an illegally parked vehicle on Wellington St. in Ottawa. The car has no rear licence plate, and the man appears to be carrying a long dark object. The time stamp of the video is consistent with the time police say they began to receive 911 calls. The video was submitted to CBC by a person who was driving by at the time.
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Michael Zehaf-Bibeau, slain Ottawa shooter, had criminal record in Quebec, B.C.

Wed, 10/22/2014 - 18:45

Michael Zehaf-Bibeau, the slain gunman in Wednesday’s shooting at the Ottawa War Memorial and Parliament Buildings, had a criminal record in Quebec and British Columbia. Court documents obtained by CBC News show that Zehaf-Bibeau pleaded guilty to charges including drug possession and robbery. Zehaf-Bibeau, a Canadian born in 1982, was charged with drug possession in 2004.

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Ottawa Shooting: MP Alexandre Boulerice describes 'frightening' lockdown

Wed, 10/22/2014 - 18:40
Alexandre Boulerice was in an NDP caucus meeting when he heard the shots. "We heard a few shots at the beginning and everyone was looking at each other saying, ‘Maybe it’s only renovations' ... but after three or four shots, it was quite clear there was an attack," the MP for Rosemont-La Petite-Patrie told CBC Montreal's Homerun. "Security guards came in and said, 'No, you cannot leave the place. It’s not safe. Go under the tables.' They were guarding the three doors and locking them.
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Ottawa police ask Ottawa faith communities to report threats

Wed, 10/22/2014 - 18:29
Ottawa's police chief has reached out to religious and community leaders in the city Wednesday, asking them to report crimes or threats while warning them that the shootings at Parliament Hill and the incident in St. Jean de Richelieu "may be very challenging for members of our communities." CBC News has confirmed the man suspected in the shootings at the National War Memorial and at Parliament Hill — and who was himself shot dead on the Hill — was Michael Zehaf-Bibeau, a Canadian born man with a criminal record in Quebec and British Columbia. Earlier this week on Monday, Martin Couture-Rouleau, 25, ran down two military personnel in a St-Jean-sur-Richelieu parking lot.
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Ottawa shooting: Calgary police chief says attack not believed to be co-ordinated event

Wed, 10/22/2014 - 18:11

Calgary police Chief Rick Hanson says local officers remain vigilant after a shooting in Ottawa Wednesday morning. Parliament Hill was locked down after 24-year-old reservist Cpl. Nathan Cirillo was fatally wounded while standing guard at the National War Memorial in downtown Ottawa.

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UPEI names its new director of athletics and recreation

Wed, 10/22/2014 - 18:09
UPEI has named its new director of athletics and recreation. Chris Huggan will oversee a department that includes nine varsity teams, numerous club teams, and intramural and fitness programming. Huggan taught physical education and managed the athletics department at Colonel Gray High School for the last nine years.
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