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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Tinejdad, Morocco – The world’s largest online social network Facebook was down Friday morning for some users in a number of countries for about 30 minutes.“Earlier this morning, some people had trouble accessing Facebook for a short time. We quickly investigated and have fully restored service for everyone. We’re sorry for the inconvenience,” Facebook said in an emailed statement.It is normal for any website to temporarily go down, but calling 911 for such technical problem is indeed very funny. The Los Angeles County Sheriff sergeant Burton Brink confirmed in a tweet that they received several calls from dissatisfied users complaining about the crash of Facebook.Yes we got calls #facebookdown That is why I sent out my previous msg to prevent them. Unk number received on 911 or reg number TY #LASD— Sgt. Brink (@LASDBrink) August 1, 2014The Sheriff used Twitter to announce that the problems that users may encounter using Facebook are not within the range of their services.#Facebook is not a Law Enforcement issue, please don’t call us about it being down, we don’t know when FB will be back up!— Sgt. Brink (@LASDBrink) August 1, 2014The hashtag #NowFacebookDown quickly became Twitter’s top trending topic worldwide.Facebook was fully restored on Friday immediately after the crash.

Taking the floor first, Vartan Oskanian, the Foreign Minister of Armenia, noted that the Assembly’s agenda includes an item on protracted conflicts. “Putting all these conflicts in one pot is inherently flawed. Our own conflict, Nagorno-Karabakh, does not belong there. The UN is not the place to address [it] because that issue is being addressed within the OSCE” – the Organization for Security and Cooperation in Europe.“We are negotiating with Azerbaijan and we’re inching towards a resolution,” he said.He said that the process is evolving. “We have a balanced, solid document in our hand which addresses not only the core issue but also the consequential issues, and the two together add up to a reasonable solution.”At the core of the process, he said, “lies the right of people to self-determination.”In a subsequent address to the Assembly, the Foreign Minister of Azerbaijan, Elmar Mammadyarov, said the issue of Nagorno-Karabakh poses the most serious challenge to the region’s security. “As a result of the conflict, we are still facing the continued occupation by Armenia of a significant part (almost 20 per cent) of the international recognized territories of Azerbaijan,” he said.“We are hosting around 1 million refugees and internally displaced persons (IDPs) who were ethnically cleansed and brutally expelled from their homes of origin in Armenia and in the occupied territories of Azerbaijan.”The negotiations being held in the framework of the OSCE “have not yielded any results so far,” he said.“And as the time passes the more difficult it is for us to observe from our side of the line of contact the attempts of the current Armenian leadership to consolidate the results of occupation of our territories, destroy everything associated with the Azerbaijani legacy in these territories and carry out illegal activities thereon,” he said. “The United Nations shall not tolerate such action.” 3 October 2007As the United Nations General Assembly continued its high-level debate today, the Foreign Ministers of Armenia and Azerbaijan expressed their views on the Nagorno-Karabakh region of Azerbaijan.

Owensboro Police Chief Art Ealum became the first African-American police chief to be elected president of the Kentucky Association of Chiefs of Police (KACP) OWENSBORO, Ky. (WTVQ) -Owensboro Chief of Police Art Ealum has been elected president of the Kentucky Association of Chiefs of Police (KACP).Ealum, who last year was named KACP Chief of the Year, assumed the presidency in late July during the KACP Annual Conference, which was held in Owensboro. Chief Ealum succeeds Independence Police Chief Tony Lucas for the one-year term.- Advertisement – Ealum is the first African-American to serve as KACP president.“It is an honor to serve as the KACP president and exceptionally humbling to serve as the first African-American KACP president,” Chief Ealum said. “It truly is something worthy of celebration. I would be remiss if I didn’t mention my brothers and sisters in the chief’s association have never treated me as anything as a peer, mentor and a friend.“This is truly a crowning moment in my career; however, this is not a career defining moment,” Chief Ealum said. “My personal philosophy is that you are only as good as what you did yesterday; therefore, you should continue to push forward, always striving to do bigger and better things. For me, those ‘bigger and better things’ consist of setting the example for others to follow, shattering those glass ceilings that still exist and being a catalyst for change.”Related Article: Trump signals support for gun background checksChief Ealum’s priorities include maintaining the KACP’s presence and voice in Frankfort to support and promote policies that safeguard the interests of peace officers, their families and all citizens of this great state.“Our organization has to stay vigilant when it comes to legislation affecting our pension system,” Chief Ealum said.Chief Ealum said one of one of the most pressing issues facing law enforcement today is the recruitment and retention of qualified candidates.“Most agencies across the country have experienced a decline in the number of people who are interested in pursuing a career in law enforcement,” he said. “In my opinion, the private sector has been much more effective in attracting and retaining good employees with increased pay and benefit packages. ”A native of Evansville, Ind., Chief Ealum started working for the Owensboro Police Department in 1991. He was promoted to Sergeant in 2002, Lieutenant in 2004, Captain/Major in 2008, Deputy Chief in 2010, and Chief in 2012.Chief Ealum holds an Associate of Science from Owensboro Community and Technical College, a Bachelor of Arts from Brescia University, a Master of Science in Criminal Justice from Eastern Kentucky University, and is a graduate of the Administrative Officers Course from the University of Louisville’s Southern Police Institute and a graduate of the National Organization of Black Law Enforcement Executives CEO Mentoring Program.Chief Ealum is also a graduate of the following courses from the Department of Criminal Justice Training: Academy of Police Supervision, School of Strategic Leadership, and Criminal Justice Executive Development.The Kentucky Association of Chiefs of Police (KACP) was founded in 1971 to secure official and personal cooperation among law enforcement executives and the citizens of Kentucky. Based in Madisonville, Ky., KACP has a membership of more than 500 law enforcement executives including municipal and county police chiefs, sheriffs, state and federal law enforcement administrators and railroad police. KACP assists its membership with accreditation, training, advocacy, and a discount on liability insurance through the Kentucky League of Cities. The KACP provides financial assistance to law enforcement students, Special Olympics, Police Memorial Foundation, Concerns of Police Survivors and in addition. each KACP region is awarded funding for training and meetings throughout the year.  KACP also partners with The Department of Criminal Justice Training, The Regional Community Policing Institute and the U.S. Attorney’s Offices in Kentucky to provide timely information on topics of interest to law enforcement executives.

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