Trudeau wins Canada vote, to form minority government

Agencies
October 22, 2019

Ottawa, Oct 22: Prime Minister Justin Trudeau's Liberal Party held onto power in a nail-biter of a Canadian general election on Monday, but as a weakened minority government.

Television projections declared the Liberals winners or leading in 157 of the nation's 338 electoral districts, versus 121 for his main rival Andrew Scheer and the Conservatives, after polling stations across six time zones closed.

As early as Tuesday, Trudeau will have to form an alliance or formal coalition with one or more smaller parties in order to govern.

The first test of his future government will follow in the subsequent weeks with a speech to parliament outlining his legislative priorities and a confidence vote.

The 47-year-old former school teacher dominated Canadian politics over the four years of his first term but faced a grilling during the 40-day election campaign, which was described as one of the nastiest in Canadian history.

His golden boy image has been damaged by ethics lapses in the handling of the bribery prosecution of engineering giant SNC-Lavalin, while the emergence of old photographs of him in blackface makeup rocked his campaign.

Scheer, meanwhile, only two years after winning the leadership of his party, struggled to win over Canadians with his bland minivan-driving dad persona and a throwback to the thrifty policies of past Tory administrations.

His Conservatives had stood alone among all of the parties in pledging austerity measures to return to a balanced budget within five years.

Surging social democrats and resuscitated Quebec separatists also appeared to have chipped away at Liberal support.

The Bloc Quebecois came back from a ruinous 2015 election result, tapping into lingering Quebec nationalism to take 32 seats, while the New Democratic Party (NDP) won 25 seats, according to projections.

"Trudeau has really lost his halo. It's pretty tarnished," commented Lois Welsh, 77, in Regina, disappointed over the Liberal win.

Michel Mercer in Montreal said he voted for the Liberals, but only to keep the Tories at bay.

"I would have voted NDP but I didn't want to see the Conservatives in power," he told agency.

Some 27.4 million Canadians were eligible to vote in the election, and a large turnout was expected but that won't be confirmed until Tuesday morning.

During the campaign, Trudeau evoked the bogeymen of past and current Tory parties fostering "politics of fear and division" while Scheer called the prime minister a "compulsive liar," "a phony and a fraud."

Outside polling stations, Canadians told AFP they had wished for a more positive campaign focused on issues.

"I deplored the cheap shots during the campaign. I think we're better than that," said Andree Legault in Montreal.

Trudeau had warned against Scheer's pledged rollback of environmental protections, including a federal carbon tax that discourages the use of large amounts of fossil fuels.

The pair exchanged barbs while attack ads and misinformation multiplied.

At one rally, the prime minister wore a bulletproof vest due to security fears.

Scheer had lamented that Canadians "cannot afford" a Liberal government propped up by the third-place New Democratic Party (NDP).

NDP leader Jagmeet Singh, a leftist former criminal defence lawyer, is the first non-white leader of a federal political party in Canada, and will likely emerge as kingmaker.

Late in the campaign, Scheer was shaken over revelations of his US dual citizenship and allegations that his party hired a communications firm to "destroy" the upstart People's Party, led by former Conservative foreign minister Maxime Bernier.

The Green Party, hopeful for a breakout, managed to add only one seat, bringing its tally to three.

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News Network
June 27,2020

LGeneva, Jun 27:: The number of confirmed coronavirus cases worldwide has risen by over 177,000 in the past 24 hours to 9.4 million and the death toll has topped 480,000, the World Health Organisation (WHO) said on Friday (local time).

On Thursday, the WHO reported 167,056 new cases and 5,336 related deaths.

The fresh daily situation report estimates the number of infections confirmed in the past 24 hours at 177,012. Further, 5,116 virus-related deaths were reported over the same period, taking the toll to 484,249.

The Americas lead the count with over 4.7 million cases, followed by Europe with more than 2.6 million.

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Agencies
July 7,2020

Washington, Jul 7: The US House of Representatives Judiciary Committee will grill the CEOs of US tech giants Apple, Google, Facebook and Amazon during an antitrust hearing on July 27.

Apple's Tim Cook, Facebook's Mark Zuckerberg, Alphabet's Sundar Pichai and Amazon's Jeff Bezos will testify before the antitrust panel that is working on proposals to reform and regulate the digital market.

The hearing would mark the first time all four top executives testify together in front of Congress, virtually or in-person depending on the panel's call in the COVID-19 pandemic times.

"Since last June, the Subcommittee has been investigating the dominance of a small number of digital platforms and the adequacy of existing antitrust laws and enforcement," House Judiciary Committee Chairman Jerrold Nadler (D-NY) and Antitrust Subcommittee Chairman David Cicilline (D-RI) said in a statement on Monday.

"Given the central role these corporations play in the lives of the American people, it is critical that their CEOs are forthcoming. As we have said from the start, their testimony is essential for us to complete this investigation.”

The House Judiciary Committee announced its antitrust probe into the four tech giants in June last year.

Last month, the committee sent letters to technology giants Apple, Facebook, Amazon and Alphabet (Google's parent company), asking them to confirm if their chief executives will testify as part of the committee's tech competition investigation.

Committee chair David Cicilline said the documents that the investigators sought were "essential" to the probe and that requests like this were part of the "appropriate process" to obtain them.

"The only CEO who has expressed reservation about appearing, through a representative, has been Amazon," Cicilline said. "No one in this country is above the law ... nobody is above answering a congressional subpoena".

The lawmakers want the tech giants to furnish documents that have been produced in relation to other competition probes and internal communications.

The letters that the committee sent also posed questions related to possible harms to competition in the market.

In addition to the antitrust probe, Apple's App Store policies are also facing scrutiny from the US Department of Justice.

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Agencies
June 7,2020

Moscow, Jun 7: OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market.

The group, known as OPEC+, also demanded countries such as Nigeria and Iraq, which exceeded production quotas in May and June, compensate with extra cuts in July to September.

OPEC+ had initially agreed in April that it would cut supply by 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis. Those cuts were due to taper to 7.7 million bpd from July to December.

“Demand is returning as big oil-consuming economies emerge from pandemic lockdown. But we are not out of the woods yet and challenges ahead remain,” Saudi Energy Minister Prince Abdulaziz bin Salman told the video conference of OPEC+ ministers.

Benchmark Brent crude climbed to a three-month high on Friday above $42 a barrel, after diving below $20 in April. Prices still remain a third lower than at the end of 2019.

“Prices can be expected to be strong from Monday, keeping their $40 plus levels,” said Bjornar Tonhaugen from Rystad Energy.

Saudi Arabia, OPEC’s de facto leader, and Russia have to perform a balancing act of pushing up oil prices to meet their budget needs while not driving them much above $50 a barrel to avoid encouraging a resurgence of rival U.S. shale production.

It was not immediately clear whether Saudi Arabia, the United Arab Emirates and Kuwait would extend beyond June their additional, voluntary cuts of 1.18 million bpd, which are not part of the deal.

BULGING INVENTORIES

The April deal was agreed under pressure from U.S. President Donald Trump, who wants to avoid U.S. oil industry bankruptcies.

Trump, who previously threatened to pull U.S. troops out of Saudi Arabia if Riyadh did not act, spoke to the Russian and Saudi leaders before Saturday’s talks, saying he was happy with the price recovery.

While oil prices have partially recovered, they are still well below the costs of most U.S. shale producers. Shutdowns, layoffs and cost cutting continue across the United States.

“I applaud OPEC-plus for reaching an important agreement today which comes at a pivotal time as oil demand continues to recover and economies reopen around the world,” U.S. Energy Secretary Dan Brouillette wrote on Twitter after the extension.

As global lockdowns ease, oil demand is expected to exceed supply sometime in July but OPEC has yet to clear 1 billion barrels of excess oil inventories accumulated since March.

Rystad’s Tonhaugen said Saturday’s decisions would help OPEC reduce inventories at a rate of 3 million to 4 million bpd in July-August. “The quicker stocks fall, the higher prices will get,” he said.

Nigeria’s petroleum ministry said Abuja backed the idea of compensating for its excessive output in May and June.

Iraq, with one of the worst compliance rates in May, agreed to extra cuts although it was not clear how Baghdad would reach agreement with oil majors on curbing Iraqi output.

Iraq produced 520,000 bpd above its quota in May, while overproduction by Nigeria was 120,000 bpd, Angola’s was 130,000 bpd, Kazakhstan’s was 180,000 bpd and Russia’s was 100,000 bpd, OPEC+ data showed.

OPEC+’s joint ministerial monitoring committee, known as the JMMC, will meet monthly until December to review the market, compliance and recommend levels of cuts. JMMC’s next meeting is scheduled for June 18.

OPEC and OPEC+ will hold their next scheduled meetings on Nov. 30-Dec. 1.

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