Tech and Film: 7 Innovations Changing the Industry

first_imgThese 7 technologies are poised to reshape the film industry.What a time to be alive! Digital cameras are getting smaller, cheaper, and more powerful by the day. Our phones are turning from point-and-shoot cameras into 360-degree experiential recording devices, and smart folks in secret rooms are dreaming up new ways to push the film industry forward in ways we can only describe as pure science fiction.Autonomous drones, dual camera virtual reality, computers learning to edit nuanced scenes, and 3D printing gear all top our latest innovative trends list, which is sure to capture your imagination (and, eventually, your pocketbook).Let’s look at these seven technological innovations changing the film industry and how they may be helping you with your video projects before you know it.Autonomous DronesYes, yes there are autonomous drones out there on the market already, but today’s “autonomous” offerings are just sensational beginnings to what fully autonomous drones are going to be able to do. We’re talking about sentient drones with built-in knowledge and algorithms on everything from filmmaking techniques (shot sizes, viewing angles, and screen position) to corrective obstacle avoidance and open source technology for developing the drone cinematographers of the future.You can read more about autonomous drone technology here or from the developers at MIT.4k+ 3D TechnologyAs you can see in our comprehensive coverage of this year’s NAB convention, virtual reality (or VR as we like to say in the biz) may be the brightest star in the future-tech galaxy. One shining example would be Lucid VR’s LucidCam, which is touted as the “first and only 4K 3D VR live production camera” — you can read more here. Not to be outdone is Google-supported Yi Technology’s Yi Halo (pictured above) 16-point 4k 3D action camera. This is as impressive as it is expensive (more here).For more on these NAB future tech offerings, check out the full post here.Smartphone Filmmaking GearTo some, the idea that there will come a day when entire feature films will be shot on iPhones seems like a dystopian concept. Yet, it’s already happened. Multiple times in fact. This raises a question: will the market and industry shift to accommodate those up-and-coming iPhone and smartphone filmmakers with new, cool and innovative gear and technologies? The answer, again, is it already has — just look at this round up of iPhone gimbals unveiled at NAB 2017.If you’re looking to dive into the iPhone filmmaking wormhole, here’s a great article on what the future will hold for the pocket-sized medium.Dual Camera VRThey say two eyes are better than one, right? So why wouldn’t this be true for virtual reality? The technonauts behind the ambitious Kickstarter project Two Eyes VR believe binocular 360 viewing and recording is truly the way of the future. It is, after all, how we experience the world day-in and day-out. You can check out more about how (and why) it works in these videos here, here and here. You can also fully check out, read up on, and potentially support the project on their Kickstarter page.For more future-focused and ambitious projects just launching their Kickstarter dreams, check out this round-up.Drone GogglesDrone goggles are, at the very least, the most futuristic-looking technological innovation on this list — and they are, indeed, a thing of the imminent future. DJI actually unveiled their current offering at NAB, which is on the market today. However, as we can see with some of the limitations of the current products (as well as look into what could be available), POV drone operation is just beginning to take off.Here’s the full write-up on DJI’s goggles from NAB.Algorithm EditingPerhaps the scariest technological innovation on the horizon, algorithmic editing technologies, like the software MIT researchers are developing, may very well replace human film and video editing jobs all together. Or, depending on how you look at it, the technology may just make editing much less tedious. Either way, the breakthroughs in facial recognition, automatic labeling, and idiom appliance are all frighteningly innovative parts of the futuristic “Computational Video Editing.”You can watch the technology in action and read up on the full program here.3D Printing Your Own GearThere will come a day when shipping gear across the world will be as archaic as dial-up internet, but until 3D printing reaches the next level of speed, quality, and affordability, we can only dream. That being said, for small and simple items like follow focuses, lens rings, tripod plates, and even clapboards (pictured above), 3D printing is fast-becoming a viable option.Here’s a list of 20 pieces of film gear you can 3D print today.What technological innovations are you looking forward to? Let us know in the comments.last_img read more

Antioxidants Could Increase Cancer Rates

first_imgMany people take vitamins such as A, E, and C thinking that their antioxidant properties will ward off cancer. But some clinical trials have suggested that such antioxidants, which sop up DNA-damaging molecules called free radicals, have the opposite effect and raise cancer risk in certain people. Now, in a provocative study that raises unsettling questions about the widespread use of vitamin supplements, Swedish researchers have showed that relatively low doses of antioxidants spur the growth of early lung tumors in cancer-prone mice, perhaps by hindering a well-known tumor suppressor gene.For the full story, see this week’s issue of Science.Sign up for our daily newsletterGet more great content like this delivered right to you!Country *AfghanistanAland IslandsAlbaniaAlgeriaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBolivia, Plurinational State ofBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongo, The Democratic Republic of theCook IslandsCosta RicaCote D’IvoireCroatiaCubaCuraçaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and Mcdonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIran, Islamic Republic ofIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea, Democratic People’s Republic ofKorea, Republic ofKuwaitKyrgyzstanLao People’s Democratic RepublicLatviaLebanonLesothoLiberiaLibyan Arab JamahiriyaLiechtensteinLithuaniaLuxembourgMacaoMacedonia, The Former Yugoslav Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMartiniqueMauritaniaMauritiusMayotteMexicoMoldova, Republic ofMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorwayOmanPakistanPalestinianPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalQatarReunionRomaniaRussian FederationRWANDASaint Barthélemy Saint Helena, Ascension and Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVanuatuVenezuela, Bolivarian Republic ofVietnamVirgin Islands, BritishWallis and FutunaWestern SaharaYemenZambiaZimbabweI also wish to receive emails from AAAS/Science and Science advertisers, including information on products, services and special offers which may include but are not limited to news, careers information & upcoming events.Required fields are included by an asterisk(*)last_img read more

BCCI Could Allow Indian Players in Overseas T20 Leagues

first_imgThe Board of Control for Cricket in India (BCCI) has been apprehensive over sending the male cricketers to participate in overseas T20 events. Three female Indian cricketers in the form of Smriti Mandhana, Harmanpreet Kaur and Veda Krishnamurthy have already taken part in the Women’s Big Bash League (BBL). However, the men’s contingent is yet to make their debut.Read it at Cric Tracker Related Itemslast_img

Shooters Heena, Annu give India 31st gold

first_imgIndian shooters continued with their gold winning spree on Tuesday and ensured that the Delhi Games became the country’s best ever in terms of sporting prowess. Heena Sidhu and Annu Raj Singh shot to top in women’s pairs 10 metre air pistol event claiming India’s 31st gold medal in the ongoing Commonwealth Games. It was the best ever medal haul for India in the Games as its previous best was 30 gold medals in 2002. With 759 points each, India, Australia and Canada ended in a tie in 10m women’s pairs air pistol. The Indian pair was adjudged the winners by point difference. Australia and Canada won silver and bronze respectively. Heena’s 384 points played a crucial role in the Indian win. Annu scored 375 points. Earlier, the day started with two silvers in different shooting events. Samresh Jung and Chandrashekhar Kumar Choudhary claimed a silver medal in men’s 25metre standard pistol pairs. Another silver medal was claimed by Tejaswini Sawant in women’s singles 50metre rifle prone event.Jung and Chaudhary missed the gold by finishing 13 points  ehind Singapore’s score of 1116 points. England get bronze.last_img read more

Everyone was devastated: Delhi Dynamos owner reveals backstage story after Super Cup loss

first_imgIt was in March earlier this year when Delhi Dynamos (DDFC) were ready to take on Churchill Brothers at the back of a six-match unbeaten run in the Indian Super League (ISL). Churchill Brothers had finished second last in the I-League season while Delhi Dynamos had finished eighth in the ISL but by the end of the league, Delhi Dynamos had played like a much better ranked team.They had flair, they had goals to show, they had the confidence of good performances and they went into the match as clear favourites against Churchill, who had won only five of their 18 I-League matches that season.However, it turned out to be a nightmare for Delhi as Willis Plazas haunted them with a double, one of which came in extra time, and Delhi were ousted by the I-League minnows 2-1.Delhi Dynamos team was devastated as was visible on their faces that day but Rohan Sharma, DDFC owner, revealed what happened backstage after their almost unimaginable loss.Read – When Barcelona star Gianluca Zambrotta found Italian cheese in India and went crazy”Last year, I’ll be honest, we had the Super Cup fall-out and that’s the worst we’ve played in our lives and I’m not even exaggerating. Everyone who was at the club was devastated. I was so mad, stunned. I was upset and I said I want team meeting,” Rohan told further told that the foreigners did not show up at the meeting but the Indian players did and they are the ones they retained ahead of the current season.advertisement Delhi Dynamos players during a training session (@vinit_vr Twitter Photo)Rohan spoke about what he told the players and how they reacted to his words.”The foreigners didn’t come but Indian players did, everyone who we retained, Chhangte, Romeo and we sat down. I said we’re never doing this again and they were all crying, Chhangte was crying. Pritam was devastated, he hates losing more than anyone at the club. I said we’re never doing this again whatever happened this season, we cannot repeat and Pritam looked at me and said yeah, we will not,” Rohan added.Rohan told how intricately they looked at everything they did ahead of season 5 of the ISL and shared his aspirations for the club this season.”Last year was very very hard for us and we didn’t like it and the Super Cup loss was a real punch in the face for me and that’s why we took things far more seriously this year, from the foreign players to the coaches, everything had to be really done right. We couldn’t be haphazard and sign anyone. We interviewed our players, talked to the coaches, made sure everything was being done right.”That’s why I feel better about the team this year, I see the effect and I’m hoping for good things this year. I wanna win the championship of course, and I think we can. We have the team, they’re young, they’re hungry and fast and we’ll score better, people overreact but we’ll be fine.”Also Read – How Florent Malouda had a laugh at the expense of Manchester UnitedDelhi Dynamos have a new coach in Spanish Josep Gombau this year. The club parted ways with coach Miguel Angel Portugal after last season, who is now the coach of Pune City FC.Rohan exclusively detailed the process he and the club went through to get coach Gombau at the club and told exactly what he liked about his new coach.”I will tell you the whole process we went through regarding the coach. We interviewed at least 15-20 coaches. We were down to a French coach but he couldn’t get him because he got an offer in France itself from Ligue 1, we were very close to signing him. I was just sitting with my dad discussing that we have to do something about the coach thing, who do we look at again, who did we like and coach Gombau came up.”You look at his resume and it’s like coach in A-League and we are used to having big guys, we had Zambrotta who didn’t coach before but that was Zambrotta and before that you had Roberto Carlos. Then we had Portugal, which was a joint decision between us and Aspire [Academy] and he was a Real Madrid Castilla coach and so he [Gombau] wasn’t the sexiest name. But when he came to the meeting with the whole powerpoint presentation and videos about what all he had done in A-League and what he would do in Delhi and how he could impact our players, it was great.advertisement”And his style of play is different. Portugal is still defensive but he is very aggressive and I like that because you are empowering our midfielders and strikers and wingers, which is our strength this season. This is why even when we drew against Mumbai, I know we should have won that game, but the whole team was attacking.”They also get this system more this year, they are enjoying this system more when they are practicing, they are liking it, there is more freedom, there is less pressure. You are not thinking too much into things but are just looking to get to the ball which really helps us because we have speed,” Rohan shared.Read – Fouled, sleepy, exhausted: ‘You cannot take a bad picture of Marcos Tebar’Rohan is the fan of Real Madrid, who have won the last three Champions League title in Europe. However, this is not the reason he decided to stick with a Spanish coach, in fact he feels that Indian players are most suited for the passing style of play.”I actually like Spanish football here [at Delhi Dynamos] because I think Indian players are more accustomed to it. I think it’s more solid to watch as well than you know, long balls. I like coach Constantine and coach Coppell too but you look at Chhangte, Vinit, Nandha, how they thrive under that kind of passing.”Vinit thrives so much more in our system than I think he does under Constantine’s system. I think that’s because it’s a very good passing game. Most of the youngsters who have not had that experience of the national team, I think it really helps. I do crap a lot of Bengaluru but how they work on Udanta, they really brought that Spanish thing and I think if you do that with a lot of younger players early on, it’s a lot more impactful,” Rohan said. Delhi Dynamos suffered a 2-1 loss to Churchill Brothers in the Super Cup qualifier (@vinit_vr Twitter Photo)Delhi Dynamos is so much about Spanish football, Spanish coach and Spanish players that Rohan Sharma chooses to label it as a Spanish mafia.”It is chemistry and when you enjoy what you are playing, it’s good. We have all the players who know this style of play, even the foreigners. We have Gianni and then Marcos Tebar who has been here for 2-3 years now. Then Rene is a very creative guy, of course you can’t say that he was hampered by John Gregory because they won the league, but here he has more freedom to pass. Everyone in this team has some degree of Spanish in team, we are very pro-Spain here, it’s very funny. I call this the Spanish mafia.”last_img read more

Bedlam is a 11 AM kick

The No. 2 WR in the country has OSU in final two

VAR decision was ‘deflating’ admits Frank Lampard after Chelsea’s 2-1 defeat to Liverpool – video

13 days agoChelsea winger Hudson-Odoi backed for senior England return by Foden

first_imgChelsea winger Hudson-Odoi backed for senior England return by Fodenby Paul Vegas13 days agoSend to a friendShare the loveChelsea winger Callum Hudson-Odoi is being backed for a senior England return.Manchester City midfielder Phil Foden believes Hudson-Odoi will be knocking on Gareth Southgate’s door ahead of the senior internationals next month.”Callum’s a special talent and I’ve known him for a long time now,” Foden said. “We played together in the youth teams and I’m positive he’ll be back up to the first team in the next camp. I’m hoping so.”He actually looks even sharper. That’s just Callum for you. He’s always got a smile on his face and just loves the game. He hasn’t dropped standards in any way. He’ll obviously feel like his sharpness isn’t quite there but you can see the signs.” About the authorPaul VegasShare the loveHave your saylast_img read more

Means a lot: Andy Murray on winning 1st ATP title since 2017

first_imgMeans a lot: Andy Murray on winning 1st ATP title since 2017Former World No. 1 Andy Murray defeated Stan Wawrinka 3-6, 6-4, 6-4 to win the European Open title in Antwerp — his first ATP title since recovering from a career-saving hip surgery. advertisement Indo-Asian News Service AntwerpOctober 21, 2019UPDATED: October 21, 2019 10:25 IST Andy Murray won the European Open on Sunday (AP Photo)HIGHLIGHTSAndy Murray won his 1st ATP title since March 2017 on SundayMurray defeated Stan Wawrinka in Antwerp finalI didn’t expect to be in this position at all: MurrayFormer World No.1 Andy Murray, who claimed his first singles title at the European Open since undergoing hip surgery in January, described it as “one of the biggest” wins of his career.Murray on Sunday defeated Switzerland’s Stan Wawrinka 3-6, 6-4, 6-4 and immediately after that burst into tears.”It means a lot,” BBC Sport quoted Murray as saying. “The last few years have been extremely difficult. “I didn’t expect to be in this position at all. I’m happy, very happy.”The 2019 Australian Open appeared to be his last as he had revealed his retirement plans due to a troublesome hip problem.However, he underwent hip resurfacing surgery following the grand slam on January 28.What a player. What a champion.The winning moment for @andy_murray at the 2019 @EuroTennisOpen: @TennisTV Tour (@atptour) October 20, 2019On Sunday, the three-time Grand Slam champion needed two hours and 27 minutes to achieve what seemed to be the impossible, especially after his hard-fought wins over Marius Copil of Romania and France’s Ugo Humbert in the quarterfinals and semifinals.Last week, the Brit had admitted that when he lost in the third round of an ATP Challenger Tour event held in Mallorca during the US Open, he was a bit concerned with both his tennis and his physical conditioning.This is the first singles title for Murray, ranked No. 243 in the world, since he defeated Spain’s Fernando Verdasco to win the Dubai Championships in 2017.Also Read | Andy Murray edges past Stan Wawrinka to win his 1st ATP tour title in over 2 yearsAlso See:advertisementFor sports news, updates, live scores and cricket fixtures, log on to Like us on Facebook or follow us on Twitter for Sports news, scores and updates.Get real-time alerts and all the news on your phone with the all-new India Today app. Download from Post your comment Do You Like This Story? Awesome! Now share the story Too bad. Tell us what you didn’t like in the comments Posted byAkshay Ramesh Tags :Follow Andy MurrayFollow European OpenFollow AntwerpFollow Stan Wawrinka Nextlast_img read more

SITC Inks Cooperation Deal with Qingdao Port

first_imgzoom Shipping logistics company SITC International Holdings has signed today a cooperation agreement with Qingdao Port International Co., Ltd. aimed at strengthening the strategic cooperation in the port and logistics market. Pursuant to the 5-year agreement, Qingdao Port International will support SITC’s provision of “high-frequency, high density” sea freight logistics services and SITC will treat Port of Qingdao as its preferred choice for container loading and unloading.In addition, the parties agreed to jointly participate in terminal, logistics and infrastructure investments and operations in Southeast Asia and mainland China. They also agreed to actively explore suitable business cooperation projects in both overseas and domestic logistics markets, including ports and inland container depot and warehouse, shipping agency and extension services, port related ancillary services.Qingdao Port International is a primary operator of Port of Qingdao and operates four port areas in Qingdao, mainly engaging in handling of different types of cargoes such as containers, metal ore, coal and oil and provision of ancillary services, logistics and port value-added services, port ancillary services and financial services.“Signing of this strategic cooperation agreement will enable us and Qingdao Port International to leverage our respective strengths, resources and expertise and provide value-added services to customers, which will be beneficial to business development of SITC and Qingdao Port International,” said Yang Shaopeng, SITC Chairman of the Board and Executive Director.last_img read more

Traffic Advisory Colchester County

first_img Local Area Office: 902-893-5785 Fax: 902-893-2259 -30- COLCHESTER COUNTY: Route 236 Weather permitting, Route 236 will be closed for culvert replacement Tuesday, June 23, at 8 a.m., until Wednesday, June 24, at 9 p.m. The detour route will be Riverside Road and Princeport Road. last_img

YSR Congress wins 151 Assembly 22 Lok Sabha seats

first_imgAmaravati: YSR Congress Party (YSRCP), which swept to power in Andhra Pradesh with a landslide victory, has bagged 151 seats in 175-member Assembly. It also won 22 out of 25 Lok Sabha seats. As counting in couple of constituencies continued past midnight with keen tussle between the YSRCP and the Telugu Desam Party (TDP), the final tally became clear early Friday. The TDP finished a distant second with 23 Assembly and three Lok Sabha seats. Also Read – Dussehra with a ‘green’ twist Actor Pawan Kalyan’s Jana Sena Party (JSP), which made the electoral debut, bagged one Assembly seat. Both the Congress and the Bharatiya Janata Party (BJP) drew blank. In 2014, the TDP had bagged 102 seats while its then ally BJP had won four seats. The YSRCP had won 67 seats while two independents were also elected. In the simultaneous Lok Sabha polls, TDP had won 15 seats, YSRCP eight and BJP two seats. In the results declared late Thursday night, TDP’ Galla Jayadev retained Guntur Lok Sabha seat with a margin of 4,800 votes over his nearest rival M. Venugopal Reddy of the YSRCP. TDP’s Kesineni Nani and K. Rammohan Naidu also retained Vijayawada and Srikakulam Lok Sabha seats respectively after a close contest.last_img read more

Real estate sector on growth trajectory CREDAICBRE report

first_imgTel Aviv: India’s economic transition, workforce expansion and urbanisation will boost investment opportunities in real estate sector in the next decade, leading to significant growth in housing, office, retail and warehousing space, says a CREDAI and CBRE report. In its joint report released at a real estate conference held here, property consultant CBRE said the sector would expand tremendously by 2030, led by new asset classes such as coworking, coliving, student housing and real estate investment trusts (REITs). Also Read – Thermal coal import may surpass 200 MT this fiscalThe report estimated that office space stock will touch one billion sq ft by 2030, with flexible workspace accounting for 8-10 per cent of the total stock. The retail shopping centre stock is estimated to cross 120 million sq ft by 2030, while warehousing stock could touch 500 million sq ft by then. By 2030, residential real estate has the potential to almost double from the current stock of 1.5 million units in key cities, the report said. “As the Indian economy transitions and its workforce expands, it will offer vast development and investment opportunities for the real estate sector,” CREDAI-CBRE report said. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostThe growth of cities is going to further influence the country’s built environment, while technology, demographics and environmental issues will become the new value drivers, it added. Commenting on the report, CREDAI President Satish Magar said, “India continues to remain a high-priority market for long term growth potential as is evident from the increased investment flows in the last few years. “In the wake of positive policy reforms and emergence of a strong workforce, the momentum of India’s economic growth is steady and it will only grow stronger in the next 10 years,” said Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE. The factors which will further facilitate this growth trajectory are investment, improved governance, human capital upgrade, improved connectivity, infrastructure enhancement, strengthened institutions, policy reforms and integrated sustainability of the entire ecosystem, he added.last_img read more

We have to move forward student says at reconciliation garden of hearts

first_imgAPTN National NewsAfter the closing ceremony of the Truth and Reconciliation Commission inside Ridea Hall, the Governor General’s home, dignitaries were led into the gardens by elementary students from the Ottawa Gatineau area.APTN’s Delaney Windigo reports.last_img

Trump hits back at Trudeaus criticism of punitive US metal tariffs

first_imgWASHINGTON – Justin Trudeau drew the ire of Donald Trump late Thursday, after warning of a new turning point in Canada-U.S. relations when the U.S. president made good on a threat to impose crippling new tariffs on steel and aluminum imports.Earlier in the day, the prime minister called Trump’s use of a national security clause in U.S. trade law to justify the tariffs “totally unacceptable.”Trump shot back hours later in a statement, saying the days of the U.S. being taken advantage of in trade deals “are over.” The U.S., Canada and Mexico are also involved in a tough renegotiation of the North American Free Trade Agreement.On NAFTA, Trump said: “Earlier today, this message was conveyed to Prime Minister Justin Trudeau of Canada: The United State (sic) will agree to a fair deal, or there will be no deal at all.”The broadside comes one week before Trump sets foot on Canadian soil for the first time as president, in the G7 summit that Trudeau is hosting in Quebec. It represents an apparent breakdown in Trudeau’s efforts to find common ground with the tough-talking president.Business leaders in Canada and the U.S. predicted dire economic consequences as result of the U.S. decision, which was felt widely across North America and Europe and touched off a storm of criticism on both sides of the Atlantic.Some of Trump’s fellow Republicans also criticized the move. House Speaker Paul Ryan, who is not seeking re-election, said he disagrees with the decision.One of several Republicans to voice opposition, Ryan said the administration should not be targeting “America’s allies when we should be working with them to address the unfair trading practices of countries like China.”But the tariffs stung particularly in Canada, where Trudeau evoked the history of the two countries fighting together, from the beaches of Normandy to the mountains of Afghanistan.In his direct conversations with Trump, Trudeau said, he stressed the “interconnectedness of the Canadian and American economies” and the dire negative consequences both would likely face if the tariff threat went ahead.“We talked about how difficult this was going to be in terms of a turning point in the Canada-U.S. relationship,” Trudeau noted.Canada responded by imposing dollar-for-dollar tariff “countermeasures” on up to $16.6 billion worth of U.S. imports, in response to the American decision to make good on its threat of similar tariffs against Canadian-made steel and aluminum.The tariffs, which apply to a long list of U.S. products that includes everything from flat-rolled steel to playing cards and felt-tipped pens, will go into effect July 1, said Foreign Affairs Minister Chrystia Freeland.“This is the strongest trade action Canada has taken in the post-war era,” Freeland said. “This is a very strong Canadian action in response to a very bad U.S. decision.”The U.S. measures, aimed at Canada, Mexico and the European Union, are illegal and counterproductive, said Freeland. Both she and Trudeau sounded incredulous that Canada could ever be considered a national-security threat to such a close and important ally.“That Canada could be considered a national-security threat to the United States is inconceivable,” said Trudeau, adding that the people of the U.S. are not Canada’s target, and that the federal government would have far preferred that its hand wasn’t forced.Canada, Mexico and Europe had been exempted from import duties of 25 per cent on steel and 10 per cent on aluminum when they were first imposed in March, but those exemptions were to expire as scheduled on Friday.A spokeswoman for the U.S. Chamber of Commerce told The Canadian Press that the decision will hurt American workers and families and will “will hike prices, upend supply chains, and cost American jobs.”Perrin Beatty, the president of the Canadian Chamber of Commerce, called Thursday’s decision “tragic” and said it flew in the face of a long history of military, economic and diplomatic co-operation between the two countries.“The unilateral action by the Trump administration severely damages that relationship. It’s illegal. It’s immoral. It’s irrational,” Beatty said in an interview.During a conference call early Thursday, Commerce Secretary Wilbur Ross played down the divisions. But the move means Trump will be face-to-face with a number of leaders who have taken retaliatory action against the U.S. when he makes his closely watched Canadian debut at the G7 next week.Ross shrugged off questions about the U.S. facing possible retaliation, or whether the move would negatively affect the G7 meeting. And he repeated that while he was looking forward to continuing negotiations, the U.S. decision was based on national security grounds.The long-threatened tactic is sure to cast a pall over the G7, with some observers saying a G6-plus-one scenario is already shaping up.“There are periodic disagreements between any two countries on any given set of topics. That doesn’t necessarily mean that it derails other discussions at all,” said Ross.“It all depends on how the various parties react to the circumstances.”While the tariffs have had “major, positive effects” on industry jobs and workers, “the Trump administration’s actions underscore its commitment to good-faith negotiations with our allies to enhance our national security while supporting American workers,” the White House said in a statement.Ontario Premier Kathleen Wynne, campaigning in advance of the June 7 provincial election, savaged the U.S. president as she called the tariff measure short-sighted and urged Trudeau “to take the strongest retaliation possible to protect our workers” and industry.“I think that we’ve all had just about enough of Donald Trump…. He doesn’t seem to get that his bluster and his bullying are costing people real jobs — in his own country, in Canada and in Ontario,” Wynne said.“I really believe that now the time for talk is done. Donald Trump is a bully and the only way to deal with a bully is to stand up and push back and we have to do that.”But one Canada-watcher in Washington stressed there was no need for Canada to take Thursday’s decision personally.“The key takeaway is Donald Trump does not view the Canada-U.S. relationship as special,” Eric Miller of the Rideau Potomac Strategy Group, said in an interview.“This is Trump versus the world, rather than Trump versus Canada.”last_img read more

Closing Bell TSX drops 105 points amid mixed bank earnings Fed concerns

TORONTO — The Toronto stock market closed lower Thursday, pressured by the financial sector as the latest batch of bank earnings disappointed, giving traders an excuse to take some more profits from a sector that has delivered solid returns all year.Here are the closing numbersTSX — 13,200.40 -104.52 -0.79%S&P 500 — 1,785.03 -7.78 -0.43%Dow — 15,821.51 -68.26 -0.43%Nasdaq — -4,033.16 -4.84 -0.12%The S&P/TSX composite index fell 104.52 points to 13,200.4 with extra selling pressure coming from mining stocks amid falling commodity prices.The Canadian dollar erased early losses to rise a third of a cent to 93.98 cents US.Toronto-Dominion Bank (TSX:TD) shares fell $1.35 to $94.40 after it reported a quarterly profit of $1.622 billion, up from $1.597 billion a year ago. On an adjusted basis, TD earned $1.90 per share, up from $1.83 a year ago but nine cents less than analysts had expected.The bank also raised its dividend by a penny to 86 cents a share and announced a two-for-one stock split.Most of TD’s major units showed increases but net income from wholesale banking fell by 61% to $122 million from a year earlier.Meanwhile, Royal Bank of Canada (TSX:RY) had $2.119 billion of quarterly net income, up 11% from last year. Adjusted diluted earnings per share was $1.42, four cents higher than analysts had forecast. But its shares fell 83 cents to $68.17 as Barclays analyst John Aiken pointed to both the wealth management and retail banking divisions as performing weaker than he expected.RBC also announced that president and chief executive Gordon Nixon will retire next summer.CIBC (TSX:CM) shares dropped $1.23 to $88.82 as it reported a profit of $836 million in net income in its latest quarter, down from $852 million a year ago. After adjusting for one-time items, earnings were $2.22 per share, seven cents ahead of estimates and up 8.8% from a year ago.Analysts pointed out that despite the pressure on the bank stocks Thursday, the financial sector was still up about 18% year to date.“None of the numbers were bad per se, they just didn’t knock the lights out and it’s something that people got accustomed to with the Canadian banks,” said Sadiq Adatia, chief investment officer of Sun Life Global Investment.“There’s a lot of good things going forward, it’s just that at some point in time people’s expectations get higher than what a company can deliver.”U.S. indexes were lower as concerns about what the Federal Reserve will do with a key stimulus measure grew in the wake of more positive economic data.The Dow Jones industrials lost 68.26 points to 15,821.51 amid further positive news on the U.S. jobs front a day before the release of the government’s employment report. The U.S. Labor Department reported that applications for jobless benefits, which are a proxy for layoffs, dropped 23,000 last week to 296,000.The Nasdaq declined 4.84 points to 4,033.16 and the S&P 500 index was down 7.78 points to 1,785.03.Expectations for job creation in the government employment report moved higher after payroll firm ADP reported Wednesday that the private sector added 215,000 jobs last month. Prior to that report, markets had expected job creation of about 183,000.But while a stronger report would be welcomed as another sign of an improving economy, it would also raise concerns the Federal Reserve is getting close to cutting back on its US$85 billion of monthly bond purchases, a program that has kept long term rates low and supported a strong stock market rally this year.On the TSX, the financial sector was down about 0.66% but still ahead about 18% year to date.Scotiabank (TSX:BNS) shares fell 38 cents to $63.32 ahead of its earnings report coming out on Friday.But the gold sector was the biggest percentage decliner, falling almost 3%. December bullion declined $15.30 to US$1,231.90 as the precious metal appeared less attractive on rising speculation the Fed will move sooner than thought to taper asset purchases. Goldcorp (TSX:G) fell 79 cents to C$22.14 and Kinross Gold (TSX:K) faded eight cents to $4.85.Base metals were also lower as March copper declined two cents to US$3.23 a pound. The base metals sector fell and HudBay Minerals gave back 14 cents to $7.70.The energy sector declined 0.32% while the January crude contract on the New York Mercantile Exchange gained 18 cents to US$97.38 a barrel. Suncor Energy (TSX:SU) gave back 84 cents to $36.27.A major mover on the TSX was Precision Drilling. Its stock fell 93 cents or 9.06% to $9.33 on huge volume of 74.1 million shares. Most of the volume came from a block trade of 56 million shares by Alberta Investment Management Company. TOP STORIESEarnings paint murky picture for RBC and other big banksTD misses profit expectations, but announces stock split, dividend hikeOttawa’s budget watchdog says Jim Flaherty will balance the books sooner than he thinks ‘This kid is a fad. He’s not going to last’: BlackBerry snubbed Justin Bieber’s endorsement, new oral history saysWHAT’S ON DECK FRIDAYECONOMIC NEWSCANADA8:30 a.m.Employment report (Nov): Economists expect gain of 12,000 jobs, jobless rate unchanged at 6.9% Labour productivity (Q3): Economists expect 0.3% rise UNITED STATES8:30 a.m.Employment report (Nov): Economists expect gain of 185,000 jobs, jobless rate to tick down to 7.2% Personal income and consumption (Oct): Economists expect income to rise 0.3%, spending 0.2% 9:55 a.m.University of Michigan Consumer Sentiment Index (Dec): Economists expect reading of 76, up from last month 3 p.m.Consumer credit (Oct): Economists expect $14.55-billion CORPORATE NEWSCANADABank Of Nova Scotia Q4 earnings: Analysts expect $1.30 a share read more

Liberia UN agencies fear dwindling supplies cannot meet growing relief needs

According to the UN Office for the Coordination of Humanitarian Affairs (OCHA), widespread fighting in western, northern and eastern Liberia is cutting off those most in need from humanitarian aid. At the same time, that violence has sparked fresh waves of internal displacement and refugee movement, which aid agencies fear may outstrip their already dwindling supplies.The UN is also seriously concerned over the security of humanitarian personnel. Many of the 200 humanitarian workers who lost contact with their respective offices during heavy fighting around the eastern town of Zwedru on 27 March, remain unaccounted for. The environment in the area has become so dangerous that many aid agencies have had to withdraw their workers.Fighting in the eastern part of the country has placed civilians, including refugees fleeing conflict in neighbouring Côte d’Ivoire at risk, OCHA said. An increasing number of Liberians are also being forced to flee within their own borders, many for the second or third time. Fighting near the northern town of Gbarnga has displaced more than 20,000 people, who then sought shelter in Ganta. When fighting spread to Ganta, some 15,000 of these new arrivals were forced to flee again, along with some 30,000 residents of that town.According to OCHA, thousands of these people have now fled into neighbouring Guinea. In addition, a recent attack by Liberians United for Reconciliation and Democracy (LURD) rebels at a centre for internally displaced persons (IDP) close to Monrovia drove some 25,000 people out of their temporary shelter.Poor security, and the resulting fluid movements of vulnerable populations it causes, also leaves humanitarian workers unable to reach people in need in the most affected areas. Emergency interventions have become more difficult, and planned health care initiatives like vaccinations against measles have been postponed. Where access is possible – mainly near Monrovia – humanitarian agencies are running low on supplies. Shortages have also prompted the World Food Programme (WFP) to reduce its April and May food rations.Aid agencies fear supply shortfalls will soon become worse because programmes for food, shelter, emergency health, and human rights protection have not received any contributions. Donors have so far provided just 2 per cent of the $42.6 million in funding required under the 2003 UN Consolidated Inter-Agency Appeal for Liberia. UN humanitarian agencies in Liberia continue to urge donors to enable them to assist vulnerable Liberians by funding the Appeal. read more

UN envoy meets with south Sudan rebel leader as peace talks gain

The Council hopes its session next week in Nairobi will act as a catalyst for progress at talks between the Sudanese Government and the Sudan People’s Liberation Movement/Army (SPLM/A). More than 2 million people have been killed in southern Sudan since the conflict began in 1983.Meanwhile the UN Advance Mission in Sudan (UNAMIS) reported that many internally displaced persons (IDPs) and refugees have begun to return to their home areas in the south, encouraged by the good prospects for peace between the Government and rebels. But it added that protecting these returnees along the main roads remained a concern, with landmines constituting a major risk for them.In Sudan’s other major crisis in the western region of Darfur the UN World Food Programme (WFP) reported today that lack of security and the resumption of violence had forced it to slash aid in an area where 1.45 million people have lost their homes and Janjaweed militias are accused of killing and raping thousands of villagers after local rebel groups took up arms against the Government.In October, WFP had been able to reach only 1.1 million persons with food aid compared with almost 3 million in September.Also in Darfur, UN Children’s Fund (UNICEF) Goodwill Ambassador Mia Farrow and her son Seamus are witnessing firsthand the worsening humanitarian crisis. The actress has been visiting IDP camps and has met with representatives of the Government and the African Union in an attempt to raise awareness of the plight of children.Rape, violence and general insecurity remain the most pressing concerns and Ms. Farrow heard accounts from many women who had suffered abuse. Women are most vulnerable when they leave the camps in which they are forced to live in order to collect the firewood they need to survive.”I had heard that protection was the priority at this point – and it sure is,” she said. “They have to live with the choice of whether they can cook the meals for their family, and which of them is going to go out and face this sort of assault on a daily basis.”The two saw the work UNICEF has undertaken since the crisis began nearly two years ago. More than 900 classrooms have been built or rehabilitated, water and sanitation has been provided for many thousands of people, and more than 2 million children have been vaccinated against measles and/or polio. read more

TSX back under water traders look to more fallout from Fed stimulus

TORONTO – The Toronto stock market likely faces more tough slogging in the weeks ahead as resource stocks lose ground alongside commodity prices amid a slowing global economy. And the other major TSX pillar, financials, will likely find gains elusive amid a slowing economy and housing sector.At the same time, New York markets could be in for more volatility as traders try to gauge the intentions of the U.S. Federal Reserve as far as easing up on stimulus.This week is also thin for economic data, with traders looking to U.S. retail sales and Canadian manufacturing shipments.North American stock markets had very different outcomes last week as the Dow industrials edged up 0.87 per cent amid a stronger than expected reading on American job creation last month. The showing left the blue chip index up 16 per cent for the year.But the TSX had yet another disappointing week, losing 2.14 per cent, led by declines in energy and base metal stocks, leaving the main index down about 60 appoints year to date.“Unless the resource sector, unless commodities mount a significant recovery and rally in the last half of the year, it’s difficult to come up with scenario where the Toronto stock market does a lot better, let alone catches up the U.S.”, said Andrew Pyle, portfolio manager at ScotiaMcLeod in Peterborough, Ont.The resource sector has been dealing with a double whammy of chunks of the eurozone stuck in recession while Chinese economic growth is well off the highs or recent years. The International Monetary Fund in late May trimmed its growth forecast for China this year from eight per cent to 7.75 per cent due to weaker global demand.“What’s happening on top of that, you have Canadian banks that are being looked at less favourably than U.S. banks, you have a lot of analysts out there now saying US banks offer better potential for growth than Canadian banks and that’s a big chunk of the TSX,” added Pyle.The U.S. markets have their own particular headwinds to face in the form of the fallout from comments by Fed chairman Ben Bernanke last month that the U.S. central bank might pull back on its $85 billion-a-month bond-buying program — known as quantitative easing — if economic data, especially hiring, improves significantly. Other Fed officials have spoken about a winding down of asset purchases sooner.Those remarks set off a wave of volatility across stock markets, as QE has kept interest rates and bond yields low and also helped fuel a strong rally on stock markets this year.But rising speculation about an easing of Fed purchases of bonds has also had the effect of depressing bond prices and raising yields, leaving the benchmark U.S. 10-year Treasury at about 2.15 per cent, up sharply from around 1.6 per cent at the beginning of May.“I think that’s what really spooked the market, (and it) just shows how dependent the bond market and stock markets have been on the whole quantitative easing program,” said Pyle.Rising bond yields are negative on two fronts.One, they can depress equities because investors feel they don’t have to invest in stocks to get a decent return.The other concern is that they could put the blocks to a steady bright spot in the American economy this year — the housing marketU.S. home prices soared 12.1 per cent in April from a year earlier, the biggest gain since February 2006, while sales of previously-occupied homes ticked up to a 3 1/2 year high that month.But data released last week shows rising bond yields already affecting mortgage rates.The average U.S. rate on a 15-year fixed mortgage rose above three per cent for the first time in a year, while the rate on the 30-year fixed loan approached four per cent.“And I think this is where the market needs to get a bit more concerned,” said Pyle.“If an increase in mortgage rates causes the U.S. housing recovery to stall or slow, and if bond yields get to a level that are now attractive alternatives, that could induce a retracement.”Housing has been one of the key pillars for the U.S. economy this year and Pyle observed that “if you were to take housing out of the equation, growth would have been lower. So if you lose housing . . . that raises another issue for stocks over the summer.”On the economic front, traders are looking for U.S. retail sales in May to have increased by 0.4 per cent on top of a 0.1 per cent rise in April amid stronger auto sales.And in Canada, Statistics Canada is expected to report that manufacturing shipments rose by 0.3 per cent during April after declining by 0.3 per cent in March. TSX back under water, traders look to more fallout from Fed stimulus intentions AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Malcolm Morrison, The Canadian Press Posted Jun 9, 2013 8:00 am MDT read more