ali lutfi 2nd Word Press Photo 2013
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ali lutfi 2nd Word Press Photo 2013 - Video
TORONTO -- The Bank of Canada's latest rate announcement, along with a number of other key economic indicators, will be front and centre this week for the Toronto and U.S. markets.
Bank governor Mark Carney is widely expected to keep the central bank's trend-setting rate at one per cent, but Danielle Park, president and portfolio manager with Venable Park Investment Counsel, said investors will look for hints on when a rate cut or hike may come.
"I think he's going to acknowledge that the Canadian data continues to disappoint. I think he's going to want to sort of back out of expectations that they may be hiking in the not too distance future," Park said.
"I think they're definitely on hold mode at this point and, if anything, they may signal that there might be a willingness to cut rates at some stage if the global trend continues this way."
It will be Carney's last rate announcement before he leaves the Bank of Canada for the top job at the Bank of England. He will be replaced by outgoing Export Development head Stephen Poloz.
There will also be an abundance of data slated for release from Statistics Canada this week.
The agency is set to release payroll employment figures, industrial product and raw materials indexes and, of particular interest, the first-quarter read on gross domestic product.
Analysts expect that the GDP data will show growth in the first part of 2013, supported by gains in the retail, wholesale and factory sectors.
In corporate news, the last of Canada's big banks are expected to report second-quarter results.
Scotiabank (TSX:BNS) reports Tuesday, Bank of Montreal (TSX:BMO) on Wednesday and Royal Bank (TSX:RY) and CIBC (TSX:CM) on Thursday.
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Mark Carney's last word on interest rates and other market movers to watch this week
Weekends on All Things Considered host Jacki Lyden speaks with Benjamin Wittes of the Brookings Institution about the Espionage Act. This Word War I-era legislation has been used more frequently in recent times to prosecute government employees who leak information to the press, but the limits set by the act are poorly defined for our modern age.
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JACKI LYDEN, HOST:
This week, members of the press and the public are up in arms over what they see as a possible violation of First Amendment rights. The Department of Justice investigated phone and email records of Fox News reporter James Rosen, who published information leaked by a government employee. The Justice Department is pursuing the leak under the Espionage Act, a law that dates back to World War I and was used to stop national defense secrets getting into enemy hands.
But more recently, the government has used the Espionage Act to pursue whistle-blowers and federal employees who leak classified information to the press. And all this buzz made us wonder, what exactly is this old law?
To help fill us in, we have Benjamin Wittes with us. He's a senior fellow in governance studies at the Brookings Institution. Benjamin Wittes, welcome to the program.
BENJAMIN WITTES: Thanks for having me.
LYDEN: What was the original intent of the Espionage Act?
WITTES: Well, the Espionage Act is a World War I era statute that prevents people from giving national defense information to foreign governments, but also to people domestically who are not authorized to have it. It not only forbids the original transmission by the authorized person to the unauthorized person, but that it also purports to forbid secondary transmissions by unauthorized people to each other.
So to give you an example of that, if somebody leaks information to NPR and NPR then turns around and publishes that information or broadcasts it on the radio, NPR itself may be in violation of it.
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Is the Espionage Act Outdated?
By Jack Shafer
(Reuters) - President Barack Obama has declared war on the press, say writers at Slate, the Daily Beast, Reason, the Washington Post (Jennifer Rubin, Dana Milbank and Leonard Downie Jr.), Commentary, National Journal (Ron Fournier), the New York Times editorial page, CBS News, Fox News (Roger Ailes) and even Techdirt.
Scores of other scribes and commentators have filed similar dispatches about this or that federal prosecution "chilling" the press and pulping the First Amendment.
Downie, who could open an aquatics center with the leaks his reporters collected during his 17 years as executive editor of the Washington Post, calls the "war on leaks the most militant I have seen since the Nixon administration."
The most recent casualties in the alleged press war are Fox News Channel and the Associated Press. The phone records of reporters at these outlets were subpoenaed by federal investigators after the organizations published national security secrets.
Then you have New York Times reporter James Risen. Federal prosecutors have been trying to force Risen onto the stand in the trial of alleged leaker-to-the-media Jeffrey Sterling (CIA) since the latter days of the Bush administration. When media strumming on the free-press topic reaches full volume, reporters and their defenders include the leak prosecutions of Thomas Drake (National Security Agency) and John Kiriakou (CIA), even though no journalist (or journalist record) appears to have suffered a subpoena in these cases. (However, the indictments in both the Drake and Kiriakou cases cite email communications with journalists.)
Championing the besieged press has become so popular that some Republicans have switched sides. Even the commander-in-chief of the alleged war, Barack Obama, has proved himself capable of making sad faces about the "war" on journalism!
In his national security speech Thursday, he said, "I am troubled by the possibility that leak investigations may chill the investigative journalism that holds government accountable." Obama went on to promise a review of the Department of Justice guidelines on press subpoenas. These are the guidelines that ordinarily exempt reporters from federal subpoenas and which his Department of Justice ignored in the AP and Rosen investigations.
To make nice with the press, Obama promised to convene a powwow of DoJ bigwigs and media organizations to address the press corps' "concerns." (Word to my press colleagues: Invitations to discuss "concerns" with bureaucrats are usually a prelude to a kiss-off.)
But all this legal battering of the press, while real, hardly rises to the level of war. Take, for example, the language in the affidavit for search warrant for Fox News reporter James Rosen's emails, which refer to a "criminal offense." To journalists' ears, the affidavit sounds like the precursor to an arrest, and has caused many otherwise sober reporters to protest that the Department of Justice was attempting to criminalize their business. But as George Washington University Law School Professor Orin Kerr argues in this precise blog item, the language in the affidavit "is designed to show compliance with the Privacy Protection Act" and is not a prelude to a prosecution.
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Column: What war on the press?
Manila, Philippines -- For old time's sake and to preserve their personal friendship, Sen. Ramon "Bong" Revilla Jr. will now stop his word war with Department of the Interior and Local Government (DILG) Secretary Manuel "Mar" S. Roxas II.
The "war" stems from Roxas' criticisms over the refusal of three regional trial court (RTC) judges in Cavite to issue a search warrant sought by the Philippine National Police (PNP) to search Revilla's house in Bacoor City for firearms allegedly brought in by armed men during the May 13 mid-term elections.
Revilla had scheduled a press conference at the Senate early yesterday afternoon but decided to cancel it.
During the May 13 elections, police ringed the Revilla residence while awaiting a search warrant.
An National Bureau of Investigation (NBI) agent and two NBI confidential agents were earlier arrested by the police near the Revilla's house for violating the election gun ban.
A staff member of Revilla told the Manila Bulletin that the three NBI agents had posted bail on the appropriate charges filed by the PNP.
Revilla had admitted that he sought the assistance of the DILG which has supervision over the PNP but was ignored.
The assistance was sought after a political follower of the Revillas was killed, their followers harassed and metal spikes were thrown on the streets leading to the Revilla residence by men in PNP uniform.
Revilla later asked for NBI assistance during the May 13 elections and claimed the PNP was not helping him.
As the word war between Roxas and Revilla escalated, Revilla issued a statement asking aloud whether "Martial Law" exists.
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Revilla calls ceasefire in word war with Roxas