TSX posts year's biggest jump on upbeat China data

By John Tilak

TORONTO (Reuters) - Canada's main stock index recorded its biggest one-day percentage jump in more than four months on Tuesday as positive economic data from China fueled hopes for a global economic recovery and drove gains in the material and energy sectors.

The sharpest reaction came from gold producers, which were buoyed by a rise in the price of bullion and jumped 3.4 percent.

China's annual consumer inflation cooled in March as food prices eased from nine-month highs and producer price deflation deepened.

The data further lifted other commodity prices such as oil and put the resource-heavy Toronto market, which is sensitive to developments in China, in positive territory for the second straight day after a five-day losing streak in which it lost 3.3 percent.

The benchmark Canadian index also turned positive on the year after slipping into negative territory last week.

"The news about China's inflation being subdued means the monetary policy out there will continue to be easy and the Chinese economy continues to do well," said Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver.

"Anything that gives us some indication that the Chinese economy is on solid footing should be positive for the TSX," he added.

The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> closed up 139.49 points, or 1.13 percent, at 12,484.05. That was the index's biggest one-day jump since November 19, 2012.

"This is a very welcome bounce in the TSX, but I'm not sure how long it will last," Picardo said.

He said seasonal volatility and profit-taking in May were likely to weigh on the market.

The benchmark Canadian index has badly lagged the rallies of its U.S. peers. Its 0.4 percent rise this year pales in comparison with an almost 10 percent jump in the S&P 500.

Nine of the 10 main sectors on the index were higher on Tuesday.

The materials sector, which includes mining stocks, advanced 2.4 percent.

Gold stocks, down 20 percent since the start of the year, provided support. Goldcorp Inc added 3.3 percent to C$32.97 and Barrick Gold Corp rose 1.5 percent to C$27.16.

Agrium Inc shares fell about 3 percent after the fertilizer maker said its entire slate of directors had been elected to its board, defeating a rival slate nominated by dissident U.S. shareholder Jana Partners.

Energy shares were up 2.4 percent as the price of oil made its biggest gain since late December. Suncor Energy Inc rose 3.1 percent to C$29.84 and played the biggest role of any single stock in leading the market higher.

Financials, the index's weightiest sector, gained 0.7 percent.

Source: http://news.yahoo.com/tsx-may-open-higher-chinese-data-u-earnings-122616582--sector.html

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Treasury: Beyonce, Jay-Z Cuba trip licensed

MIAMI (AP) ? U.S. Treasury officials say the trip by Beyonce (bee-AHN'-say) and Jay-Z to Cuba was licensed as an educational exchange.

Assistant Treasury Secretary Alastair Fitzpayne wrote in a letter Tuesday to congressional representatives that the famous hip-hop couple traveled to Cuba with a group authorized by the Office of Foreign Assets Control to promote people-to-people contact in Cuba.

The letter was released Tuesday by U.S. Rep. Ileana Ros-Lehtinen (ih-lay-AH'-nah rahs LAY'-tih-nehn).

Ros-Lehtinen and U.S. Rep. Mario Diaz-Balart (dee-AZ' bah-LART'), both Florida Republicans, had expressed concerns to the Treasury Department about the trip and wanted to know if it was licensed.

Beyonce and Jay-Z marked their fifth wedding anniversary in Havana last week. U.S. citizens are not allowed to travel to Cuba for mere tourism, though they can obtain licenses for academic, religious, journalistic or cultural exchange trips. The so-called people-to-people licenses were reinstated under the Obama administration.

Source: http://news.yahoo.com/treasury-beyonce-jay-z-cuba-trip-licensed-011303509.html

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American Marketing Society wins international awards | The Anchor

Nico Montanari
Anchor Staff

The Rhode Island College chapter of the American Marketing Society had recently visited New Orleans for the Annual International Collegiate Conference held there, which culminated in winning two awards.

The conference itself was described as a blend of professional development events, which provided great experience, and fun events, which eased the demand that the competition had on the students. The three day competition consisted of networking events, career builders and chapter competitions. Some of the most popular events were, individual chapters creating an exhibit or booth, much like at a trade show to represent their branch, and a focused event which had a featured speaker, discussing how social media marketing is evolving. In attendance were other students from colleges and universities that belonged to the AMA from all around the country, including some from Canada and Puerto Rico.

Of the two awards won, one was an honorable mention which promoted and recognized the amount of hard work that the RIC AMA chapter had exercised in their ?Official Marketing Week.? The second was an, ?Outstanding Communications? award, which recognized the RIC AMA chapter for excellence in communication throughout the branch and beyond. Although Justin Coffey, RIC AMA Branch President, stated that the organization expected to win more awards, he highlighted the fact that, for many new members of the organization, this was their first trip; he stated that the whole experience was rewarding.

Coffey went on to say that they are expecting big things for next year, ?We?re completely revamping our school?s chapter of the AMA. We have huge plans for the rest of this year and for next year and like I said, have already begun the planning process.? He also stated that ?Students should seriously consider joining our chapter here at? RIC if they are looking to better themselves professionally.?? Much like the competition, Coffey stated that the RIC AMA tries to find a nice blend of professionalism and fun.

Source: http://www.theanchoronline.org/news/2013/04/08/american-marketing-society-wins-international-awards/

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Israel's Harel in deal to buy U.S. office building

TEL AVIV (Reuters) - Subsidiaries of Israel's Harel Insurance Investments and Financial Services acquired an office building in Minneapolis along with an Israeli institutional investor and an American investor for $277 million.

Harel's share in the partnership is 49 percent, the Israeli insurer said in a statement on Sunday. The Israeli institutional partner will hold 25 percent and the American investor, who will manage the property, will have 26 percent.

The 51-storey building in the business centre of Minneapolis has 130,000 square meters of space for rent, of which 94 percent is already occupied.

The purchase will be financed through the partners' capital and bank credit extended by a U.S. financial institution.

(Reporting by Tova Cohen)

Source: http://news.yahoo.com/israels-harel-deal-buy-u-office-building-082019891--sector.html

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Source: http://feeds.gawker.com/~r/lifehacker/full/~3/kZv_2vFrv6w/

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Brooklyn hit-and-run tragedy: Homicide charges filed

By Edith Honan, Reuters

NEW YORK - A New York City man who allegedly fled a hit-and-run car crash that killed a young Orthodox Jewish family appeared before a Brooklyn judge on Thursday night to hear the charges that could put him in prison for life.

Julio Acevedo, 44, of Brooklyn, faces charges of criminally negligent homicide and leaving the scene of an accident, according to prosecutors. He is also being accused of reckless driving, assault and speeding.

If convicted, Acevedo faces 25 years to life in prison because of his prior convictions, prosecutor Gayle Dampf said. He is being held without bail.

The victims, Raizy and Nachman Glauber, 21, were members of an Orthodox Jewish enclave in the Williamsburg area of Brooklyn. They were expecting their first child.

They were on the way to the hospital when their taxi was hit broadside by a gray BMW sedan, police said. The BMW driver fled the scene on foot.

The Glauber baby was delivered on Sunday by Cesarean section at Bellevue Hospital, where the mother had been pronounced dead on arrival, police said. The boy died early on Monday.

More news from NBCNewYork.com

Family friends said the child's birth had been a ray of hope that was extinguished when the baby died of his injuries. They said Raizy Glauber was about six months pregnant and wanted to go to the hospital because she was not feeling well.

Acevedo, who has a lengthy criminal record, surrendered on Wednesday to New York City detectives in the parking lot of a convenience store in Bethlehem, Pa.

The meeting between the suspect and police had been arranged with the help of one of Acevedo's friends, New York City Deputy Police Commissioner Paul Browne said.

Witnesses to the Sunday morning crash said the BMW had been speeding, police said. The taxi was at a stop sign when the accident occurred, police said.

Before his surrender, Acevedo spoke by telephone to the New York Daily News. An article published on Tuesday said Acevedo had claimed he was fleeing gunshots when the accident occurred and that he fled the scene of the accident because he was afraid of being shot.

This story was originally published on Fri Mar 8, 2013 3:57 AM EST

Copyright 2013 Thomson Reuters. Click for restrictions.

Source: http://usnews.nbcnews.com/_news/2013/03/08/17233359-homicide-charges-filed-in-connection-with-brooklyn-hit-and-run-tragedy?lite

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Photos: Crufts Dog Show begins

A West Haven, Conn., Dunkin' Donuts employee didn't take too kindly to an attempted robbery on Saturday evening. Rather than fork over the contents of her register, the young woman struck back, throwing hot coffee in the would-be crook's face and forcing him to bid a hasty retreat. NBC Connecticut, citing police, reports that the [...]

Source: http://news.yahoo.com/photos/crufts-dog-show-slideshow/

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