Tag Archives: Nova Scotia

Canada minister to oversee probe to teen's suicide

Canada is looking further into the case of a teenage girl who hanged herself after an alleged rape and months of bullying, after a photo said to be of the assault was shared online and no charges were filed against four teenage boys being investigated.

The death of 17-year-old Rehtaeh Parsons on Sunday has provoked an outcry across North America, and Nova Scotia‘s justice minister said Thursday he has appointed four government departments to look into her case.

The government came under criticism after Justice Minister Ross Landry initially ruled out the possibility of reviewing how the Royal Canadian Mounted Police handled allegations that Parsons was sexually assaulted in November 2011. Police concluded there were no grounds to charge the four teenage boys after a year-long investigation.

Landry later changed course, saying he has asked senior officials for options to review how the Mounties and the Public Prosecution Service concluded they could not file charges.

A group reported to be the cyber-activist hackers Anonymous said it would avenge the teen’s death. In a public statement released online Thursday morning, the group criticized officials involved in the investigation of the alleged rape and bullying and said it was in the process of confirming the identities of the accused rapists.

“Our demands are simple: We want the (Nova Scotia Royal Canadian Mounted Police) to take immediate legal action against the individuals in question. We encourage you to act fast. If we were able to locate these boys within 2 hours, it will not be long before someone else finds them,” the statement said.

Leah Parsons said her daughter hanged herself last week. Parsons said one boy took a photo of the alleged assault and her daughter was subjected to bullying after it went viral.

Nova Scotia Premier Darrell Dexter told the province’s legislature that he wanted a timely response in order to satisfy the public’s concerns.

A vigil for the teen was planned in Halifax for Thursday night. Her father posted a message Thursday on his website saying his daughter struggled to recover after being publicly humiliated.

Glen Canning‘s post, entitled “Rehtaeh Parsons was my daughter,” says his daughter “wasn’t bullied to death, she was disappointed to death. Disappointed in people she thought she could trust, her school, and the police.”

From: http://feeds.foxnews.com/~r/foxnews/world/~3/qIx__LxMd68/

Canada's Big Banks Are Too Big to Fail

By Matt Koppenheffer and David Hanson, The Motley Fool

Filed under:

In the following video, Motley Fool financial analysts Matt Koppenheffer and David Hanson compare the U.S. banking system with the banking system in Canada. As many investors often look to Canada for safer banking investments than the U.S. banks, Matt and David explore whether Canada has its own “too big to fail” banks. They discuss the Canadian banks that would be comparable with the largest banks in the U.S., and the stringent capital standards that these large Canadian banks are held to.

Many investors are scared about investing in big banking stocks after the crash, but the sector has one notable standout. In a sea of mismanaged and dangerous peers, it’s The Only Big Bank Built To Last. You can uncover the top pick that Warren Buffett loves in The Motley Fool‘s new report. It’s free, so click here to access it now.

The article Canada’s Big Banks Are Too Big to Fail originally appeared on Fool.com.


David Hanson and Matt Koppenheffer have no position in any stocks mentioned. The Motley Fool recommends Bank of Nova Scotia. Try any of our Foolish newsletter services free for 30 days. We Fools don’t all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance

Tearing down the technological 'Tower of Babel' along international borders

On the morning of December 6, 1917, in the port of Halifax, Nova Scotia, near the U.S. border in Maine, a French ship, the Mont Blanc, filled with military explosives collided with another vessel. Twenty minutes later, a fire set off the Mont Blanc‘s volatile cargo and caused a catastrophic explosion—killing thousands and destroying an entire section of the city. Rescue efforts were dispatched immediately from the Canadian mainland as well as the United States, but confusion and lack of immediate information delayed some of the rescue efforts for hours. …read more
Source: FULL ARTICLE at Phys.org

Bank of Nova Scotia, Checkpoint Systems Announce Earnings

By MarketNewsVideo Bank of Nova (BNS) announced on Tuesday that profit for the quarter increased by 13 percent, mainly due to acquisitions. The company earned $1.63 billion Canadian, or $1.25 Canadian per share, for the first fiscal quarter, versus $1.44 billion Canadian, or $1.20 Canadian, in the same period last year. Excluding items, the bank earned $1.27 Canadian per share, while analysts expected earnings of $1.25 Canadian. …read more
Source: FULL ARTICLE at Forbes Markets

Why Hecla Mining's Shares Dropped

By Travis Hoium, The Motley Fool

Filed under:

Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on big changes — just in case they’re material to our investing thesis.

What: Shares of Hecla Mining fell as much as 13% today after the company announced an acquisition.

So what: Hecla announced that it’s buying Aurizon Mines for $759 million. Aurizon investors will get either C$4.75 per share in cash or 0.9953 shares of Hecla’s stock. After the drop, it looks like investors think the cash offer will win out and Hecla will have to add debt to pay for the acquisition.

Now what: If the stock doesn’t recover before the acquisition’s close, Hecla will need cash, and the Bank of Nova Scotia has committed to $500 million in financing. This would be a big addition of debt, given the company’s barely profitable year in 2012. I don’t see this acquisition as a reason to buy the stock, and given the amount of debt the company will probably have to add, I would be a seller given the volatility in gold right now.

Interested in more info on Hecla Mining? Add it to your watchlist by clicking here.

The article Why Hecla Mining’s Shares Dropped originally appeared on Fool.com.

Fool contributor Travis Hoium and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don’t all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance

Hecla Diversification Buyout Seen as Too Costly

By 24/7 Wall St.

mining

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Hecla Mining Co. (NYSE: HL) is seeing its shares clipped hard this morning due to an acquisition it is making. The company will spend close to $800 million to acquire Aurizon Mines Ltd. (NYSEMKT: AZK). It is not uncommon for an acquirer to see its shares drop when it spends up for an acquisition. What is different about this deal is that Hecla has had enough mine problems that you wonder why investors are not cheering some mine diversification efforts.

Hecla said that it has received a $500 million financing commitment from The Bank of Nova Scotia and there is no financing condition in the acquisition. As such, the transaction will be fully financed, but one note here is that the deal will not require the approval of Hecla shareholders.

As part of the deal, Aurizon shareholders will receive $4.75 (Canadian dollars) per share, or they can choose to accept 0.9953 of a Hecla share per share they own. The deal is subject to caps on each election: maximum cash consideration of $513,631,193 (Canadian dollars) and a maximum number of Hecla shares issued of 57,000,000. On this matter Hecla said:

Assuming that all Shareholders elected either the Cash Alternative or the Share Alternative, each Shareholder would be entitled to receive CAD$3.11 in cash and 0.34462 of a Hecla share for each Aurizon common share.

Hecla’s goal is to create long-life, high-grade, low-cost mines in some of the best mining jurisdictions in the world. The three properties have in common what Hecla says are “strong exploration potential on very large and contiguous land positions as well as locations near communities that are supportive to mining.”

The reaction is taking a bite out of Hecla shares, sending it down 10% to $4.17 against a 52-week range of $3.70 to $6.94. Hecla’s market cap is about $1.3 billion. Sometimes investors think that diversification comes with too high of a price. That seems to be the case here.

Filed under: 24/7 Wall St. Wire, Mergers & Acquisitions, Mergers and Buy Outs, Metals Tagged: AZK, HL

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Source: FULL ARTICLE at DailyFinance

ScotiaBank Earnings: An Early Look

By Dan Caplinger, The Motley Fool

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Earnings season is winding down, with most companies already having reported their quarterly results. But there are still some companies left to report, and Bank of Nova Scotia is about to release its quarterly earnings. The key to making smart investment decisions with stocks releasing their quarterly reports is to anticipate how they’ll do before they announce results, leaving you fully prepared to respond quickly to whatever inevitable surprises arise. That way, you’ll be less likely to make an uninformed knee-jerk reaction to news that turns out to be exactly the wrong move.

Canadian banks have developed a well-deserved reputation for being more stable than their American counterparts, and ScotiaBank has definitely benefited from strong conditions in the Canadian economy. But will the good times last for Canada and ScotiaBank? Let’s take an early look at what’s been happening with ScotiaBank over the past quarter and what we’re likely to see in its quarterly report on Tuesday.

Stats on ScotiaBank

Analyst EPS Estimate

$1.27

Change From Year-Ago EPS

3.2%

Revenue Estimate

$4.89 billion

Change From Year-Ago Revenue

6.8%

Earnings Beats in Past 4 Quarters

4

Source: Yahoo! Finance.

Will ScotiaBank top estimates again?
Analysts have been a bit more cautious on Bank of Nova Scotia over the past few months, pulling in their earnings-per-share calls by a total of $0.06. But that pessimism hasn’t held the stock back, which has risen by about 7% since early December.

The entire Canadian banking industry has enjoyed strong economic tailwinds for a long time. A big rise in prices of natural resources like oil and gold have bolster the nation’s resource-based economy, giving ScotiaBank and its peers huge opportunities to profit from capital-intensive business expansion. ScotiaBank actually stood out from the crowd by winning the Global Bank of the Year award from The Banker magazine.

But as I mentioned in my preview of Bank of Montreal last week, concerns about high levels of household debt led one credit-rating agency to downgrade ScotiaBank and Bank of Montreal, as well as Royal Bank of Canada and Toronto-Dominion . A drop in the country’s hot real-estate market probably wouldn’t hurt the banks as badly as the financial crisis hurt U.S. banks, but it could still put a crimp in earnings for a while.

Unlike Toronto-Dominion, RBC, and Bank of Montreal, ScotiaBank hasn’t focused its international efforts as much on U.S. expansion. Rather, it has worked hard to build a bigger presence in Asia and Latin America. As higher-growth areas with arguably more potential and less competition, those regions may prove to be good picks for ScotiaBank.

In its earnings report, look for ScotiaBank to give hints about the state of the global economy in the regions where it does business. If emerging markets start to heat up again, then the bank could outperform its Canadian peers.

The best investing approach …read more
Source: FULL ARTICLE at DailyFinance

3 right whales saved from entanglement have babies

Four years after wildlife experts carefully cut away fishing line wrapped tight around its midsection, an endangered right whale that still bears a scar from the encounter returned to waters off the Georgia coast this month along with something to celebrate — a newborn calf by its side.

The new mom, known to its rescuers as Equator for the scar circling her belly, is one of three right whales spotted with babies this month off the Atlantic coast years after the adults had been freed from entanglement by humans. Experts said they rarely saw rescued whales move on to motherhood until a few years ago. They called the January sightings a success story for a critically endangered species believed to number 400 or fewer.

“Just until recently it was very rare. We hardly ever saw it,” said Jamison Smith, who heads the federal whale disentanglement program for the National Oceanic and Atmospheric Administration. “It’s really exciting to see that we have three animals in one season.”

Right whales migrate to the warm waters off South Carolina, Georgia and Florida to give birth each year from mid-November through March. Conservationists conduct daily flights over the water during the calving season to photograph and report any mother-and-newborn pairs.

Two of the formerly ensnared whales were spotted off the 100-mile Georgia coast, said Clay George, who heads the right whale monitoring program for the Georgia Department of Natural Resources.

Equator and her calf were photographed Jan. 13 in waters near Little St. Simons Island. In December 2008, the same whale had shown up in Georgia waters trailing 300 yards of fishing line tangled in a knotted loop that was cutting into her midsection. A rescue team in a boat managed to get close enough to cut two of the three strands the whale was dragging. The last strand later fell off.

“At the time we had no idea if it was a male or female,” George said. “The whole time we’ve been doing disentanglements for the last six or seven years, we’ve been hoping a couple of these might survive and end up producing calves.”

A second whale, known as Arpeggio, was seen with its calf Jan. 14 near Jekyll Island and confirmed to have been saved from entanglement in 1999 in the Bay of Fundy off the coast of Nova Scotia.

Two days earlier, on Jan. 12, another new-mom right whale, nicknamed Wart, was photographed off Cape Cod, Mass., and later confirmed to have been ensnared and rescued in May 2010.

Freeing right whales caught up in fishing gear isn’t easy. It requires humans to get in close to the giant animals, which can exceed 50 feet in length, that are likely in pain and anxious. Some rescues are called off because they’re deemed too risky. And some researchers suspect disentanglement procedures can be so stressful that they inhibit a rescued whale’s ability to reproduce later.

According to NOAA, 40 whales of various species — including four right whales — were reported entangled in fishing gear last year off the Atlantic coast of North America. Rescue crews were dispatched in 18 of those cases, including two for the right whales.

Smith from NOAA said more rescued whales may be giving birth now because of improvements made in the past five years or so.

Wildlife agencies at the state level now have their own teams trained to free whales from entanglement, where once all they could do was attach tracking buoys to the animals and wait for national specialists to fly in a day or two later, Smith said.

And those teams are constantly adopting new tools that help them save whales from a distance. Wart, the right whale seen with her calf off Cape Cod, was freed by using a crossbow to fire a blade that cut lines wrapped over the whale’s head. Smith said other ensnared whales have been treated with sedatives and antibiotics delivered by a foot-long needle fired from a gun.

“This is, I think, a banner year for success of previous disentanglements,” Smith said.

Source: FULL ARTICLE at Fox US News

EIA: Supply Issues Lifting New England Natural-Gas Prices

Lower supplies from locations as diverse as Nova Scotia, Yemen and Europe and strong demand are lifting New England natural-gas prices and will likely mean a winter of volatile prices for gas and electric power, the Energy Information Administration said Friday.
Source: FULL ARTICLE at Fox Business Headlines