WatchHydro One names new board of directors after en masse resignation

TORONTO — A new board of directors has been appointed to Hydro One Ltd. just over a month after its chief executive retired and the entire board resigned en masse.Ten new board members were named as replacements for Hydro One’s previous 14-member board, which resigned last month.The power utility says former CIBC executive Tom Woods will serve as the interim board chair until the new directors can convene to permanently fill the position.The new board comes in a time of sweeping change for Hydro One.Hydro One pushes ahead to buy Peterborough utility amid political turmoilHydro One intervention an example of ‘governance best practices’: Ontario governmentWho is on the nominating committee for Hydro One’s board? No one is sayingIts chief executive Mayo Schmidt suddenly retired last month after political intervention. He had been labelled “the six-million-dollar man” on the campaign trail by newly elected Premier Doug Ford for his hefty compensation.Under a deal reached with the new Tory government, Schmidt was not entitled to the $10.7 million severance he would have been entitled to if he’d been removed by the board, and instead received a $400,000 lump sum payment in lieu of all post-retirement benefits.Several days later, Ford’s Progressive Conservatives introduced omnibus legislation that in part would grant the government authority to approve executive compensation at the utility.In addition to Woods, the Province of Ontario, Hydro One’s largest shareholder, named lawyer Cherie Brant, former OMERS executive Blair Cowper-Smith and former BMO executive Russel Robertson to the board.The six directors nominated by Hydro One’s ad hoc nominating committee are former Weyerhaeuser executive Anne Giardini, former New Brunswick Power chief executive David Hay, Alignvest Capital Management managing partner Timothy Hodgson, Canada Post interim chief executive Jessica McDonald, former Sappi Fine Papers chief executive William Sheffield and Melissa Sonberg, executive-in-residence at McGill University’s Desautel Faculty of Management.The new board was named as the utility reported a second-quarter profit of $200 million or 33 cents per diluted share, up from a profit of $117 million or 20 cents per diluted share in the same quarter a year earlier.Revenue for the three months ended June 30 totalled $1.48 billion, up from $1.37 billion in the same quarter last year.On an adjusted basis, Hydro One said it earned 32 cents per diluted share, up from an adjusted profit of 20 cents per diluted share a year ago. read more

Worries about slowing global economy Spain banking crisis weigh on markets

by Malcolm Morrison, The Canadian Press Posted Jul 9, 2012 4:37 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO – Worries about the eurozone debt crisis and slowing global economic conditions pushed the Toronto stock market lower Monday for a third session.The S&P/TSX composite index lost 25.28 points to 11,634.67 with losses led by resource stocks even as prices for oil and metals started to recover from steep drops at the end of last week.“We seem to be stuck in this rut,” said Allan Small, senior adviser at DWM Securities.“I guess a positive for me is that the market is actually quite resilient. If you look at the halfway point, the TSX is pretty much flat for the year. But U.S. markets are fantastic.”The Canadian dollar moved 0.06 of a cent lower to 98.11 cents U.S., as oil gained ground and the Bank of Canada’s new survey of business intentions suggested Canadian firms remain surprisingly optimistic about the next year, with positive expectations for sales, investment and hiring.The most encouraging reading by the central bank was on hiring intentions, with 59 per cent of firms saying they plan to hire additional workers in the next 12 months, as opposed to only six per cent that plan to cut jobs.The TSX Venture Exchange added 0.62 of a point to 1,211.98.U.S. indexes remained firmly in the red after data Friday showed the U.S. economy only cranked out an average of 75,000 jobs a month during the second quarter, down sharply from 226,000 in the January-March period.The International Monetary Fund also warned last week that it was downgrading its economic forecast.The Dow Jones industrials fell 36.18 points to 12,736.29.The Nasdaq composite index was down 5.56 points to 2,931.77 and the S&P 500 index lost 2.22 points to 1,352.46 .The chronic eurozone debt crisis also chipped away at investor confidence as Spain’s borrowing costs rose to dangerously high levels. The interest rate, or yield, on the country’s 10-year bonds rose above seven per cent this morning, a level that market-watchers consider unsustainable. The crisis has centred on Spain in recent weeks as the country’s banks struggle under the weight of toxic loans and assets following the collapse of the country’s property market.The TSX base metals sector fell 2.17 per cent as the September copper contract on the New York Mercantile Exchange edged up two cents to US$3.43 a pound following an eight-cent fall. First Quantum Minerals (TSX:FM) fell 52 cents to $18.11.Teck Resources Ltd. (TSX:TCK.B) said Monday it has temporarily withdrawn its social and environmental impact assessment application for the Quebrada Blanca Phase 2 copper project in Chile. Teck declined 84 cents to C$31.08.The energy sector was off 0.59 per cent as the August crude contract on the New York Mercantile Exchange was ahead $1.54 to US$85.99 a barrel after sliding $2.77 at the end of last week. Prices took off Monday as Norway prepared for a shutdown of its North Sea crude production.Norway’s oil industry, which produces more than 3.8 million barrels of oil and natural gas per day, said platforms were set to switch off due to a strike by offshore oil workers over retirement benefits.Canadian Natural Resources (TSX:CNQ) dropped 26 cents to $26.32 and Suncor Energy (TSX:SU) dipped 20 cents to $29.16.The gold sector was off about 0.3 per cent as bullion started to recover from Friday’s $30 decline, up $10.20 to US$1,589.10 an ounce. Iamgold (TSX:IMG) was off eight cents to C$11.44 while Barrick Gold Corp. (TSX:ABX) faded 19 cents to US$37.36.The industrials sector moved down 0.34 per cent with Canadian Pacific Railway (TSX:CP) down 58 cents to $74.45.Transportation giant Bombardier Inc. (TSX:BBD.B) said Sunday that it received a conditional order valued at about $1 billion for 15 of the new C-Series aircraft the company aims to begin delivering by the end of next year. Its shares slipped a penny at $4.03.In other corporate developments, Thomson Reuters Inc. (TSX:TRI) shares gave back four cents to $28.99 after the information provider made a friendly US$625-million offer to buy FX Alliance, a company that provides foreign exchange trading technology.And in the U.S., health insurer WellPoint Inc. is buying managed care provider Amerigroup Corp. for about US$4.46 billion in cash. Amerigroup manages publicly-funded health programs like Medicaid.There were a couple of bits of positive news Monday.Aluminum giant Alcoa Inc., the first Dow component to report second-quarter earnings, beat analyst expectations. Earnings per share came in at six cents, beating reduced estimates of five cents. Revenue of US$5.96 billion beat expectations of $5.81 billion. Shares in the sector bellwether were up about 1.6 per cent in after hours trading.And inflation figures for China showed the consumer price index at its lowest since January 2010. That will give Beijing leeway to continue adding stimulus to fight an economic slowdown. In a surprise move, China cut interest rates last week for a second time in a month. Worries about slowing global economy, Spain banking crisis weigh on markets read more

In Rome Ban says refugee and migration crisis is a defining moment

‹ ›While applauding the global solidarity shown by these countries in bearing more than their share of responsibility, he went on to emphasize: “proximity does not equal final responsibility. All countries have the same duty no matter how close they are to a crisis.”“The war in Syria is the world’s worst humanitarian crisis,” he continued, adding that his Special Envoy, Mr. Staffan de Mistura, a former Deputy Foreign Minister of Italy, is leading the effort “to forge a lasting political solution.”The Secretary-General also noted the threat to peace posed by violent extremists across the Middle East, North Africa and beyond.“We must stop the atrocities, especially the attacks against women and girls,” he said. “We must also end the destruction of cultural heritage.”He went on to recall the scores of Italians who have lost their lives in the cause of peace and stability. “We thank the thousands of sons and daughters of Italy who have served under our blue flag of the United Nations over the years,” he said, noting the murder of 13 Italian peacekeepers in the Congo in 1961.“Today – out of all the western nations – Italy is the top troop contributing country to United Nations peacekeeping operations,” he continued. “Italian support has been especially valuable for the United Nations mission in Lebanon. The fighting in Syria is putting intense pressure on Lebanon – and the United Nations is doing everything possible to respond, with Italy’s critical support.”He also welcomed Italy’s renewed commitment to foreign aid and its goal to become a top donor among G7 nations, and praised its backing for preventive diplomacy and conflict resolution.Turning his remarks to the 2030 Agenda for Sustainable Development, he called on Italy “to lead on this bold agenda” and welcomed its Government’s Intended Nationally Determined Contribution (INDC) on climate change, which had been submitted in the context of the European Union. In his concluding remarks, the Secretary-General noted that “the UN is now facing, like all members of the UN Member States, many crises: security and peace crises, humanitarian crises and the abuse of human rights,” adding that what was needed was “global solidarity, global support.” Secretary-General Ban Ki-moon (left) is welcomed by Pietro Grasso, President of the Senate of Italy, on arrival at the Palazzo Montecitorio. UN Photo/Rick Bajornas Secretary-General Ban Ki-moon (left) meets with Paolo Gentiloni, Minister for Foreign Affairs and International Cooperation of Italy. UN Photo/Rick Bajornas Secretary-General Ban Ki-moon addresses the Chamber of Deputies and Senate of Italy on the occasion of the 60th anniversary of Italy’s accession to the United Nations. UN Photo/Rick Bajornas Secretary-General Ban Ki-moon (left) meets with President Sergio Mattarella of Italy. UN Photo/Rick Bajornas Secretary-General Ban Ki-moon addresses the Chamber of Deputies and Senate of Italy. UN Photo/Rick Bajornas “Italy has always been a bridge across cultures and continents,” he told the Chamber of Senate and Deputies in Rome in an address kicking off his three-day official visit to the country.“Today, you have drawn on this experience to forge a strong, courageous and compassionate response to the biggest refugee and migration crisis since the end of the Second World War. I commend highly the men and women of Italy who have saved tens of thousands of lives.”He thanked Italy for its “resources, energy and empathy for the thousands of desperate people arriving here in search of safety,” noting that Italy was a leader in European rescue efforts.“These are urgently needed to stop the thousands of needless deaths that are turning the Mediterranean into a sea of tears,” he said. The UN chief stressed that millions of forcibly displaced people from Syria are being hosted by its neighbours, such as Lebanon, Jordan, Turkey and Iraq and some in Egypt and North Africa. Like those countries, Italy’s shoreline makes it a frontline state for refugees from the Middle East and Africa, he stressed. Secretary-General Ban Ki-moon (centre) is welcomed by Pietro Grasso, President of the Senate of Italy, and Laura Boldrini, President of the Chamber of Deputies, on arrival at the Palazzo Montecitorio to address the Italian Parliament. UN Photo/Rick Bajornas Secretary-General Ban Ki-moon (left) is welcomed by Laura Boldrini, President of the Chamber of Deputies of Italy. Pietro Grasso (right), President of the Senate, looks on. UN Photo/Rick Bajornas read more

Sir Bradley Wiggins takes on retirement challenge Channel 4s riskiest show The

first_img Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. Confirmed to take part in the series are Emma Parker-Bowles, the niece of the Duchess of Cornwall, rugby players Gareth Thomas and Jason Robinson, footballer Robbie Fowler, former Made in Chelsea star Spencer Matthews, comedian Mark Dolan and Olympic medal-winning gymnast Louis Smith.They will be joined by Olympic Taekwondo champion Jade Jones, Paralympic medallist Kadeena Cox, model Vogue Williams, star of The Only Way Is Essex Lydia Bright, reality TV star Josie Gibson, and Caprice Bourret, the model. Sir Bradley, 36, said he is taking on the show as his next “sporting challenge”, insisting: “Just don’t call me a celebrity.”The last series of the show saw Beth Tweddle, the Olympic gymnast, require surgery after damaging two vertabrae, swimming Rebecca Adlington dislocate her shoulder mid ski jump, reality television star Mark Francis fracture an ankle, actress Tina Hobley dislocate her elbow and fracture her arm twice, and Heather Mills retire from competition with an injured leg and hand.Sarah Harding pulled a ligament in her knee, Ben Cohen needed 20 stitches in his face, Louisa Lytton and Tom Parker tore ligaments in their hands, and Linford Christie pulled his hamstring. “Major retiring Olympians such as Sir Steve Redgrave have also trod this path, I see this as a sporting challenge and want to go out there and win it.“Just don’t call me a celebrity.”The Jump will return to Channel 4 in early 2017, presented by Davina McCall. Sir Bradley aims to be crowned winner of The Jump Beth Tweddle had surgery for a broken neck after an accident during The Jump Previous series have seen Ola Jordan, the dancer, pull out before the show aired after injuring her hips in training, Sally Bercow fracture two ribs, Melinda Messenger suffer concussion and Marcus Brigstocke snap his cruciate ligament.A spokesman for Channel 4 said: “The show was recommissioned following a thorough review of safety procedures and as in previous years the courses are designed and adapted to the ability of the competitors.”This year, Sir Bradley will join 13 other contestants on location in Austria for training, before six weeks of live shows begin in earnest. Sir Bradley aims to be crowned winner of The Jump Just last week, he announced he was retiring from professional cycling with 16 years, eight Olympic medals and a Tour de France win under his belt.Sir Bradley Wiggins, it seems, has one more challenge left to conquer: death-defying television show The Jump.Sir Bradley is to take his life – or at least his leg bones – into his hands as takes part in the Channel 4 show, which has left previous celebrity contestants hospitalised after taking on its extreme winter sports challenges.It has become a favourite for retired sportsmen and women, who are unable to take part in such extreme physical activity during their careers. Last year's The Jump contestants, more than half of whom were injured during the series Gareth Thomas will take part this year Louis Smith is among the 2017 competitors Sir Bradley said: “Skiing is a big passion of mine, it was a mix of that and the other committed names this year that made me want to sign up.“From Jason Robinson and Robbie Fowler to Olympians Louis Smith and Jade Jones, these guys have excelled in the sporting arena and I have a lot of respect for them, they will be so competitive. Last year’s The Jump contestants, more than half of whom were injured during the seriesCredit:Channel 4 Gareth Thomas will take part this year Beth Tweddle had surgery for a broken neck after an accident during The Jump Louis Smith is among the 2017 competitorslast_img read more

Jota Gonzales leaves Logrono after 11 years in direction Paris

← Previous Story European Play-Off for WCh 2019: Start in Lithuania, the end in Macedonia Next Story → 34 teams apply for EHF CL 2018/2019 handballJota GonzalesPSG Handball The Spanish coach Jota Gonzales will be a part of PSG Handball coaching staff in the future. The 46-years old Spaniard left club La Rioja Logrono, which he raised since 2007 in one of the strongest teams of ASOBAL.The team from Logrono was playing at VELUX EHF Champions League for a few years.Former “Naturhouse” ended on the third place in the season 2017/2018 behind FC Barcelona Lassa and BM Ademar Leon.Jota Gonzales will work as assistant of Raul Gonzales.