TORONTO — The Toronto stock market was lower Thursday afternoon amid a poorly received earnings report from CIBC (TSX:CM), while data showed the U.S. economy performing worse than expected earlier this year.The S&P/TSX composite index lost 54.03 points to 14,556.93.CIBC said that poor results in its Caribbean operations were responsible for net income dropping to $306 million from $862 million a year ago. CIBC’s adjusted net income came in at $2.17 per share, beating analysts’ expectations of $2.07 per share and the bank also raised its quarterly dividend by two cents to $1 per common share. However, its shares dropped $1.59 to $97.45.Financials led TSX decliners with all of the major banks, save Scotiabank, giving back some of the gains racked up over the last week as most of the banks delivered strong results.“You’ve seen banks outperform as a group, about 3% over the last week or so — not surprising we’re having a bit of a profit-taking on them,” said Stephen Lingard, managing director of Franklin Templeton Solutions.“There is a slowing momentum in mortgage products and they’re having to be pretty competitive with each other. But they have had other segments that have offset this, notably wealth (management) and business loans so all in all a good quarter.”The Canadian dollar was up 0.27 of a cent to 92.22  cents US.U.S. indexes were higher as the first revision to first-quarter gross domestic product showed that GDP actually shrank at an annualized rate of 1% in the period, largely because of severe winter weather. That was much higher than the 0.5% drop that economists had expected, but they anticipate the weakness to be short-lived.The Dow Jones industrials rose 10.44 points to 16,643.62, the Nasdaq climbed 12.05 points to 4,237.13 and the S&P 500 index was ahead 4.51 points at 1,914.29.In other corporate developments, Bank of Nova Scotia (TSX:BNS) is selling more than two-thirds of its interest in CI Financial Inc. (TSX:CIX) in a deal worth at least $2.27 billion, making it one of the largest public offerings in Canada. Scotiabank will sell 72 million common shares of CI at $31.50 per share, reducing its current 37% interest to about 11.4%. CI shares climbed 45 cents to $34.10 and Scotiabank added 13 cents to $68.95.The debut of shares in Encana Corp. (TSX:ECA) subsidiary PrairieSky was a huge success Thursday. The energy giant earlier in the morning announced the completion of the initial public offering of 52 million common shares of PrairieSky (TSX:PSK) at an offering price of $28 and by mid-morning, the shares were trading at $36.51 on the TSX. Encana is spinning off some of its Alberta land holdings through PrairieSky.Former prime minister Brian Mulroney is expected to be elected as board chairman of  media giant Quebecor Inc. (TSX:QBR:B) next month. Pierre Karl Peladeau stepped down as board vice-chairman of Quebecor in March and chairman of subsidiary Quebecor Media when he announced plans to run for the Parti Quebecois in the April election. The move could signal an attempt by Quebecor to put some distance between itself and Peladeau. Quebecor shares slipped 17 cents to $26.58.Elsewhere on the TSX, the base metals sector dropped 0.9% as July copper slipped three cents to US$3.14 a pound. The energy sector was down 0.07% even as July crude gained 91 cents to US$103.62 a barrel. The gold sector was the leading advancer, up 1.15% as August bullion lost $2.60 to US$1,257.10 an ounce.

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first_imgBY RAMONA LUTHIThe elderly couple that was burnt to death in their East Bank Essequibo home by bandits was on Wednesday laid to rest.Bibi Jamila Munir and her husband, Mohamed Munir were killed on Sunday last when bandits invaded their Lot 17 Good Hope, East Bank Essequibo home and set it on fire during a botched robbery.At the funeral on Wednesday, the atmosphere was both sober and sad, as hundreds turned up to pay their last respects to the couple.Paying tribute to the couple, their granddaughter said the family has suffered a shocking blow and are still trying to come to grips with the death of their loved ones.Relatives and friends pay their last respects to the coupleShe described her grandfather, Mohamed Munir, as the “kindest, most hard-working, most compassionate and gentle person” she has ever known and her grandmother Bibi Jamila Munir, as the “bravest woman in the world.” She added that her grandmother was a driving force in their lives and the lives of everyone in the community.Munirs’ granddaughter noted that her grandparents loved Guyana, and the family is praying that they get the justice they deserve. She also recited a poem during which she broke down in tears.The children of Bibi and Mohamed Munir conveyed gratitude to all those who supported them in this time of their grief, noting that the Central Islamic Organisation of Guyana (CIOG), friends and neighbours played an integral part in assisting the family.Agriculture Minister Noel Holder who was also present at the funeral expressed condolences on behalf of himself and the Government of Guyana to the family.People’s Progressive Party’s Member of Parliament and cousin of the late Bibi Munir, Bibi Shadick, in her tribute said the couple would “forever be remembered by everyone as persons who cared for the community and wanted it to be better than it was.”She added that the fate the Munirs met on Sunday last was one that she cannot accept.‘’We have to stand up for what is right and we have to demand that there should be security for lives and livelihood. What we work for, we should be allowed to use and we should be allowed to give when we want to give and somebody should not come and snatch it from us. Then when they don’t get it, kill us,” she lamented.Shaddick said that her cousin was “not just a farmer” but she was also a “social worker, mother, sister, daughter and everything to everyone that needed her.”Meanwhile, Opposition Leader Bharrat Jagdeo who also paid his respect to the couple, conveyed his condolences to the family. He described their departure as being “tragic and horrendous.”Jagdeo relayed that from what he gathered from persons that knew the couple, it seemed as though the lives of these wonderful people epitomised hard work and commitment to cause. He said that Bibi Jamila Munir was an executive member of the Rice Producers Association (RPA) and knew what struggle was.He added that “it is a pity that hard work is not recognised in this country, today since people can come in such a callous manner and try to snatch away one’s fruits of hard work, possibly killing them in the process.”According to Jagdeo, the State should not be held responsible for every criminal act but they should indicate where their sentiments are directed as they should be on the victim’s side and not the perpetrator’s.”We don’t see them (APNU/AFC) go to places where tragedies occur, right across this country, where people are grieving and they are sorrowful and they have their lives knocked out in callous manners. But we see negotiations in the prison with criminals and we heard about how many people were released from prison… We are still asking until today to see the records of those people who were released from prison and until now there is no attempt on the part of the Government to make those records public.”According to reports, at around 23:15h on Sunday, several armed bandits invaded the couple’s premises but they managed to secure themselves in one of the bedrooms.After not being able to gain access to the couple, the angered bandits then doused the house with gasoline and set it alight.last_img

first_imgAlso signing for Wazito is Ivorian Emmanuel Tienan who was previously with MOSCA.“These are players who we think will be a great addition to the squad. Nyakha is a very good midfielder especially on the ball and his experience having featured for AFC will be great for us. We are still chasing a few names and I can assure that we will have a very strong squad,” the tactician offered.Wazito earned a berth in top flight after finishing second in last season’s National Super League and Ouna who joined them midway through the 2016 season before turning them into a winning outfit has vowed they will not be in the KPL to make up the numbers.“We are coming in to compete and show that we are a good side as well. We went through so many challenges in the NSL but the players had the belief and we achieved what we didn’t think was easily achievable. It is now time to show that we can compete at the top,” the former Posta Rangers and Gor Mahia assistant coach added.Ouna has been credited with lifting the team from the ashes, one he found dwindling in relegation when he took over before raising its profile and finally a first ever berth in top flight.To aid his course, Ouna has added two more hands into his technical bench with former Gor Mahia and AFC Leopards goalkeeper trainer Iddi Salim joining the team on the same capacity.Wazito FC head coach Frank Ouna issues instructions to his players during a past National Super League match. PHOTO/Timothy OlobuluHe has also brought on board immediate former Modern Coast Rangers head coach Mohammed Ahmed as a First Team coach. He will be in charge of training the midfielders.Francis Oduor who has been part of the team for a while will be in charge of the defense while former Gor Mahia striker George Midenyo will this time be charged with sharpening the team’s next big strikers.“It is very important to have many hands to help each other out especially at this level of the Premier League. It becomes easier to pick out and manage mistakes. I think the two new guys to the bench will add so much to the team in terms of their experience,” the tactician further added.Wazito begin their Kenyan Premier League campaign on February 5 at home against Sony Sugar.“We expect a very tough challenge but looking at how we performed especially in the GOtv Shield matches, I am certain we can weather the storm. We just need to firm up a few areas technically and we will be good to go,” further added the tactician.0Shares0000(Visited 2 times, 1 visits today) 0Shares0000AFC Leopards goal keeper Edwin Mukolwe in action against their SPL clash against Tusker FC last season. PHOTO/Timothy Olobulu.NAIROBI, Kenya, Jan 10- Kenyan Premier League new boys Wazito FC have snapped up the AFC Leopards duo of midfielder Harun Nyakha and goalkeeper Edwin Mukolwe as they continue to rebuild ahead of their top flight debut.Head coach Frank Ouna has confirmed that both join the side on two year deals and reckons they will be a brilliant addition to the squad.last_img

first_imgWith France three goals ahead in the final, Lloris tried to dribble past Mario Mandzukic, failed and gave Croatia a consolation goal.“During a season one knows there are always highs and lows, one just has to try and be as consistent as possible and be ready to be at your best for the most important moments of the season for the club,” the 32-year-old Frenchman told AFP.As the English season quickly followed the World Cup, Lloris was arrested for drink driving in London in August and within days suffered an injury that Spurs manager Mauricio Pochettino put down to the stress of the brush with the law.After Lloris returned to the team, he made a string of errors leading to speculation over his future. His misjudgements against Barcelona and PSV Eindhoven in the group stage pushed Tottenham to the edge of Champions League elimination.At the end of March a fumble in the dying seconds which gifted Liverpool the 2-1 victory that ended Tottenham’s fading Premier League challenge forced Pochettino to defend his ‘keeper.“I don’t search to be understood by those outside, the most important is to be understood inside the club,” said Lloris, who joined Spurs seven years ago from Lyon.“It is important to enjoy the confidence of the manager, the staff and my team-mates and it was the case this season.”Hugo Lloris saved Tottenham against Ajax © AFP / Adrian DENNISLiverpool fans will be hoping they benefit from a goalkeeping error this year with memories painfully fresh of the blunders by the Reds’ stopper Loris Karius in last year’s loss to Real Madrid in the Champions League final.Yet there have been highs for Lloris too.He repeatedly saved Tottenham as they teetered on the edge in the Champions League, making remarkable saves in both legs of the semi-finals before Spurs rallied from three goals down to beat Ajax.“We are where we are as we have given a bit extra for the team to make the results be in our favour.“It is important to have the same attitude and character for the final.”He says Spurs have been on a high since their comeback against Ajax as they prepare for the final against a side that finished 26 points clear of them in the Premier League and swept aside Barcelona in a stunning semi-final second leg.– ‘Energy, positivity, confidence’ –“It has given us a lot of energy, positivity and confidence for the final, but, there again, it is equally the case for Liverpool after beating Barcelona,” he said.“We have just got to remain focused and be best prepared in our approach to the final. (We want) to walk off the pitch at the end without the slightest regret and knowing that we have given our all.”Should the final go to penalties, Lloris could come into his own as he has saved three in four months. The most recent was from Sergio Aguero in the first leg of the Champions League quarter-final with Manchester City.“One has to prepare but after that it is difficult to place yourself in such circumstances, with the pressure and the adrenaline,” he said.“It is a particular exercise, you can be ready mentally and you can have a little luck and a little bit of success.”Lloris comes from an affluent background. His father is a banker and his late mother was a lawyer. Yet he is a tough character who turned out for his then club Nice just two days after his mother’s death in 2008.Hugo Lloris has had a year of triumph and mishap summer up by the error that gave Croatia’s Mario Mandzukic a consolation goal as France won the World Cup final © AFP / GABRIEL BOUYSHe says his experience in winning the World Cup, and losing in the finals of the Euros two years earlier, can, to some extent, help prepare his team-mates for the final.“They are two different contexts, club and country,” he said.“With your national side you are only with them for a short period, with your club you are together every day and work together for months on end.“There again the Champions League is a major trophy which links it to a World Cup and a Euro and that I believe is what we work for every day of our career to win silverware.“The story will be tremendous for Tottenham if we win on Saturday.”0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Tottenham Hotspur goalkeeper Hugo Lloris says has been backed to the hilt by Spurs manager Mauricio Pochettino despite some wobbly moments this season © AFP / Daniel LEAL-OLIVASENFIELD, United Kingdom, May 28 – Hugo Lloris has had his share of setbacks over the past 12 months, but he can complete a remarkable year in triumph if he leads Tottenham to glory in the Champions League final in Madrid on Saturday.Last July, Lloris captained France to the World Cup, but the moment the celebration was preceded, typically for the goalkeeper, by mishap.last_img

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