Showing posts with label World. Show all posts
Showing posts with label World. Show all posts

Ontario government reaches deal with some public workers

TORONTO (Reuters) - Ontario's government said on Wednesday it reached a deal with public employees to freeze wages for two years as part of a broader and contentious push to rein in the budget deficit.
The tentative deal with the Ontario Public Service Employees Union covers more than 35,000 workers, including government staff, a relatively small group of workers compared to some of Ontario's larger unions.
"This deal will help us meet our fiscal targets and it shows how everyone has a role to play to help Ontario eliminate the deficit," Ontario's Finance Minister Dwight Duncan said in a statement.
Last week, Ontario imposed new labor contracts on some 130,000 teachers, despite job action that included one-day strikes and teachers' refusal to carry out extracurricular activities.
Ontario's minority Liberal government reached deals with doctors and other teacher groups, but failed to agree terms with the larger group of elementary and secondary school teachers.
Ontario Premier Dalton McGuinty, who said late last year that he would resign once the Liberals elect a new leader later this month, vowed last March that the government would reduce its C$14 billion ($14.18 billion) deficit by standing firm on public sector wages.
Credit rating agencies have repeatedly warned that Ontario needs to stick to tough austerity measures to curb the deficit. ($1 = $0.9872 Canadian)
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Canadian housing starts slow in December

10, 2010. REUTERS/Shaun Best
TORONTO (Reuters) - Canadian housing starts slowed in December but more gradually than expected as an increase in single-family starts in urban areas softened the sting of a slowdown in multiple-unit and rural ground-breakings, a report on Wednesday said.
Figures published by Canada Mortgage and Housing Corp provided further evidence that Canada's long housing boom had ended, although activity remained robust in the cities of Ontario, the country's most populous province.
Seasonally adjusted, the annual rate of housing starts was 197,976 units in December, down slightly from 201,376 in November but above an average forecast of 195,000 among analysts polled by Reuters.
"Although today's numbers look a bit better than expected, they mark the fourth straight month of slowing in homebuilding activity, suggesting that Canada's once-bustling homebuilding sector is cooling," Emanuella Enenajor, an economist at CIBC World Markets, said in a research note.
The November figure was revised up from the 196,125 units reported previously.
The December numbers capped a strong 2012, with annual starts hitting 215,200, a 11.4 percent increase from 2011 and the third straight annual gain since the recession low in 2009, according to Robert Kavcic, senior economist at BMO Capital Markets.
"However, the year was marked by starkly different performances in the first and second halves — starts surged above 230,000 annualized in the second quarter before falling in five of the last six months of year after stricter mortgage rules weighed on demand," Kavcic said in a research note.
Fearing a bubble after three years of strong growth in sales and prices, the Canadian government tightened rules for mortgage lending as of July 2012, and home sales have begun to slow in many markets.
More slowing in housing starts is expected in 2013, though economists said historically low interest rates may limit the decline.
"If the preliminary evidence that the tighter mortgage regulations introduced in July has slowed demand is sustained, construction activity will slow further heading into the New Year," David Tulk, chief Canada macro strategist at TD Securities, wrote in a research note.
"If instead low interest rates continue to provide an irresistible incentive to prospective buyers and builders, construction will continue to run ahead of demographically supported levels (estimated to be around 185,000). In weighing the balance of risk around these two outcomes, we are biased to see starts remain close to 200,000 units in 2013 before dipping to 185,000 in 2014," Tulk said.
The CMHC said December housing starts were below the six-month trend.
The decrease recorded in December reflected a decline in rural starts, while urban starts remained stable. Housing starts were below their trends in all regions except Ontario, Mathieu Laberge, deputy chief economist at CMHC, said in a statement.
The seasonally adjusted annual rate of urban starts dipped 0.1 percent to 178,870 units, with single urban starts climbing 8.6 percent to 67,419 units and multiple starts -- typically condominiums -- dropping 4.7 percent to 111,451 units.
There was a broad disparity in activity across the country, with Ontario urban starts up 33.4 percent but all other regions down. Urban starts fell 23.9 percent in the Prairies, 11.8 percent in Quebec, 8.2 percent in British Columbia and 1.6 percent in Atlantic Canada.
The seasonally adjusted annual rate of rural starts fell 14.3 percent to 19,106 units from 22,298 units in November.
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Canadian hopes to make fantasy sports TV channel a reality

TORONTO (Reuters) - Canada's fantasy sports geeks may soon have a cable channel to call their own, thanks to Leonard Asper, former head of a newspaper dynasty that fell victim to the rise of online media.
"The League - Fantasy Sports TV" will not feature real sporting events. Instead Asper's proposed channel will air call-in programs and talk shows that cater to the millions of North American sports fans who are now participating in virtual baseball, football and hockey leagues.
Canadian media regulators gave Asper's Fight Media Inc the go-ahead on Wednesday to operate the channel, provided it can find a distributor.
Since timely information is crucial to any fantasy player's success, Asper is betting that The League will have a hungry niche audience.
In fantasy sports, "owners" assemble their teams by drafting and trading real-life professionals, essentially betting the players they select will get hot.
Statistics from real games - say, batting average in baseball, points scored or rebounds in basketball or touchdowns and interceptions in football - go to the virtual team that "owns" each player and aggregate to form the basis for the virtual league's standings.
In Canada, fantasy ice hockey pools are particularly popular, pitting coworkers or friends against each other for cash or bragging rights.
Starting in the 1990s, the Internet made game results more accessible, and virtual leagues easier to manage - Yahoo runs one popular service. Fantasy sports enthusiasts have become a key demographic for sports networks and leagues.
According to the Fantasy Sports Trade Association, there were 34 million players in the United States and Canada in 2010, up from 9 million in 2005.
Closely held Fight Media already operates Fight Network, a specialty channel devoted to "combat sports" such as mixed martial arts. The company is controlled by Leonard Asper, former chief executive of Canwest Global Communications.
The Asper family founded Canwest Global, once Canada's biggest media company, which crumpled under C$4 billion in debt, filing for creditor protection in 2009, and sold assets to Shaw Communications Inc and others.
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Sunnybrook lifts ban, allows daughter to see aging veteran father

TORONTO - Canada's largest veterans facility has lifted its ban on a woman who complained about bedbugs and a threat to a resident's safety.
Following a weekend meeting, Sunnybrook said Jackie Storrison could see her aging dad at its veterans centre, from which police escorted her more than a week ago.
The facility did insist security was on hand when Storrison went to see her father on Saturday.
"To have security sitting outside the room was beyond humiliating," Storrison, 61, said Sunday.
"I felt as though I was under house arrest. I felt like I had been convicted of a criminal offence and basically given probation with the condition that I attend mediation."
Sunnybrook banned Storrison, who has spent most evenings over the past three years caring for her 91-year-old father at the veterans centre, after nurses apparently accused her of going on a "verbal rampage for hours on end".
Storrison, who denies being abusive, said the allegation came after she alerted staff to an elderly resident wandering down the hallway alone and on another occasion to bedbugs in a patient's room.
Sunnybrook spokesman Craig DuHamel said Sunday the no-trespass order had been lifted unconditionally, and there was no need for security to be present during Storrison's future visits.
Storrison, a mother and grandmother who works in a lawyer's office, has been among a group of relatives with loved ones in Sunnybrook who have spoken publicly about what they call neglect of the most frail vets.
They also said the facility had consistently shut down their attempts at raising concerns.
Those allegations — all strenuously denied by Sunnybrook — prompted Veterans Affairs Minister Steven Blaney to order an audit of the 500-bed facility, something no level of government had done in more than seven years.
Results of the audit are pending.
Storrison said she was really bothered that neither executive vice-president Malcolm Moffat nor operations director Dorothy Ferguson asked at Saturday's meeting for her side of the story.
DuHamel said he hoped a mediator would help allay any issues, but mediation was not a requirement to lifting the ban.
"We're going to involve mediation to better understand and help us work with Mrs. Storrison to ensure we can meet the needs of her and her family in the future," DuHamel said.
Following the meeting, the Canadian Veterans Advocacy called off a threatened protest at Sunnybrook.
Co-founder Mike Blais said he was pleased the facility had lifted its ban and Storrison would get to see her father.
"It is our hope that when the mediation process concludes, the hospital will offer Ms. Storrison an apology and implement protocols to ensure such an event never occurs again," Blais said.
Storrison said the entire episode had left her distraught.
"I feel like I've been given an ultimatum with my father being held hostage if I don't agree to mediation," Storrison said.
She noted the nurses had never called security in the previous three years she has been there.
She also said she feared others would feel too intimidated to voice concerns in light of her ordeal.
"My mother and I have never asked for more than basic care," Storrison said.
"When that's not provided, we're not to complain, we're not to say a word?
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Margaret Thatcher in UK hospital after operation

 Former British Prime Minister Margaret Thatcher is recuperating at a hospital after an operation to remove a bladder growth, a friend said Friday.
The 87-year-old Thatcher went to see her doctor after experiencing some discomfort and subsequently had the growth removed, according to longtime adviser Tim Bell.
The operation was "completely satisfactory," Bell said. He said he couldn't go into detail as to the nature of the growth and declined to name the hospital, saying he did not want it to be inundated with calls.
Thatcher, Britain's first female prime minister, has been in fragile health since she suffered a series of small strokes more than a decade ago. Although she has occasionally appeared at private functions, she has not made public statements for some time.
Thatcher was not well enough to join Britain's queen for a lunch with former and serving prime ministers earlier this year, and two years ago she missed an 85th birthday party thrown for her by Prime Minister David Cameron at his official residence at No. 10 Downing Street. But in October she was well enough to mark her birthday with a lunch out in London with her son Mark and his wife.
Thatcher's declining health was a focus of Oscar-winning biopic "The Iron Lady," which premiered last year.
Thatcher served as prime minister from May 1979 until her resignation in November 1990. She was the first leader to win three consecutive elections, dominating British politics throughout the 1980s.
She was a firm supporter of her American ideological peer, President Ronald Reagan, but is a divisive figure in Britain, where the fruits of her legacy are still debated.
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Pope stresses family values as gay marriage gains

The pope pressed his opposition to gay marriage Friday, denouncing what he described as people eschewing their God-given gender identities to suit their sexual choices — and destroying the very "essence of the human creature" in the process.
Benedict XVI made the comments in his annual Christmas address to the Vatican bureaucracy, one of his most important speeches of the year. He dedicated it this year to promoting traditional family values in the face of gains by same-sex marriage proponents in the U.S. and Europe and efforts to legalize gay marriage in places like France and Britain.
In his remarks, Benedict quoted the chief rabbi of France, Gilles Bernheim, in saying the campaign for granting gays the right to marry and adopt children was an "attack" on the traditional family made up of a father, mother and children.
"People dispute the idea that they have a nature, given to them by their bodily identity, that serves as a defining element of the human being," he said. "They deny their nature and decide that it is not something previously given to them, but that they make it for themselves."
"The manipulation of nature, which we deplore today where our environment is concerned, now becomes man's fundamental choice where he himself is concerned," he said.
It was the second time in a week that Benedict has taken on the question of gay marriage, which is currently dividing France, and which scored big electoral wins in the United States last month. In his recently released annual peace message, Benedict said gay marriage, like abortion and euthanasia, was a threat to world peace. The Vatican went on a similar anti-gay marriage media blitz last month after three U.S. states approved gay marriage by popular vote.
After the peace message was released last week, gay activists staged a small protest in St. Peter's Square. On Friday, gay activists sharply criticized the pope's take on gender theory and insisted that where gay marriage has been legalized, families are no worse off.
Italy's main gay rights group Arcigay called the pope's comments "absurd, dangerous and totally out of synch with reality." And a coalition of four U.S. Catholic organizations representing gay, lesbian and transgender people said the pope had an "outmoded" view of what it means to be man and woman.
"Increasingly Catholics in the United States and around the world see what we see. Catholics, following their own well-formed consciences, are voting to support equal rights for LGBT people because in their churches and communities they see a far healthier, godly and realistic vision of the human family than the one offered by the pope," according to a statement from the groups Call To Action, DignityUSA, Fortunate Families, and New Ways Ministry.
Church teaching holds that homosexual acts are "intrinsically disordered," though it stresses that gays should be treated with compassion and dignity. As pope and as head of the Vatican's orthodoxy watchdog before that, Benedict has been a strong enforcer of that teaching: One of the first major documents released during his pontificate said men with "deep-seated" homosexual tendencies shouldn't be ordained priests.
For the Vatican, though, the gay marriage issue goes beyond questions of homosexuality, threatening what the church considers to be the bedrock of society: a family based on a man, woman and their children.
In his speech, the pope cited Bernheim as lamenting how a new philosophy of sexuality has taken hold, whereby sex and gender are "no longer a given element of nature that man has to accept and personally make sense of: it is a social role that we choose for ourselves, while in the past it was chosen for us by society."
He said God had created man and woman as a specific "duality" — "an essential aspect of what being human is all about."
Now, though, "Man and woman as created realities, as the nature of the human being, no longer exist. Man calls his own nature into question. From now on he is merely spirit and will."
The Vatican's opposition to gay marriage has been falling largely on deaf ears. In addition to the U.S. election gains, the Constitutional Court in largely Roman Catholic Spain upheld the law legalizing gay marriage last month. Earlier this month, the British government announced it will introduce a bill next year legalizing gay marriage, though it would ban the Church of England from conducting same-sex ceremonies.
In France, President Francois Hollande has said he would enact his "marriage for everyone" plan within a year of taking office last May. The text will go to parliament next month. But the country has been divided by vocal opposition from religious leaders, prime among them Bernheim, as well as some politicians and parts of rural France.
The Socialist government's plan also envisions legalizing same-sex adoptions. Benedict quoted Bernheim as denouncing the plan, saying that it would mean a child would essentially be considered an object people have a right to obtain.
"When freedom to be creative becomes the freedom to create oneself, then necessarily the Maker himself is denied and ultimately man too is stripped of his dignity as a creature of God," Benedict said.
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Pardon for pope's butler who stole papers expected

 The Vatican has summoned journalists for a briefing on what Italian news reports say is an expected pardon for Pope Benedict XVI'S former butler, who stole the pontiff's personal papers and leaked them in a bid to expose the "evil and corruption" in the Catholic Church.
Paolo Gabriele was arrested May 23 after Vatican police found heaps of papal documents in his Vatican City apartment. He was convicted of aggravated theft by a Vatican tribunal on Oct. 6 and has been serving his 18-month sentence in the Vatican police barracks.
The Vatican has made no secret that the pope would pardon Gabriele. The only question was when. A pre-Christmas pardon was widely expected.
Veteran Vatican journalists reported the announcement would come Saturday, and the Vatican press office scheduled a last-minute briefing.
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Russia: Syrian chemical weapons under control

 Russia's foreign minister says the Syrian government has consolidated its chemical weapons in one or two locations amid a rebel onslaught.
Sergey Lavrov says Russia, which has military advisers training Syria's military, has kept close watch over its chemical arsenal. He says the Syrian government has moved them from many arsenals to just "one or two centers" to properly safeguard them.
U.S. intelligence says the regime may be readying chemical weapons and could be desperate enough to use them. Both Israel and the U.S. have also expressed concerns they could fall into militant hands if the regime crumbles.
Lavrov also told reporters on a flight from an EU summit late Friday that countries in the region had asked Russia to convey an offer of safe passage to President Bashar Assad.
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Margaret Thatcher in hospital after operation

 Former British prime minister Margaret Thatcher, the country's first woman elective leader, is in hospital recovering from surgery to remove a growth on her bladder, a source close to the family said on Friday.
After experiencing pain in her bladder earlier in the week, he 87-year-old went to hospital where she underwent a minimally invasive operation, Tim Bell, a public relations executive who once served as image maker to Thatcher, said.
"The operation was completely satisfactory. She's now recovering in hospital and as soon as she's recovered she'll go home," Bell said.
Known as the "Iron Lady," Thatcher, who stepped down in 1990, embraced free market policies, challenged trade unions and privatised many state-owned companies during her 11 years in power, polarising British voters.
Britain's only woman prime minister, who led her country in a war with Argentina over the Falkland Islands in 1982 and was close to the late U.S. President Ronald Reagan, was forced to step down by her own party.
Thatcher suffered a series of mild strokes in late 2001 and 2002, after which she cut back on public appearances and later cancelled her speaking schedule.
She was hospitalised in 2010 for tests relating to a flu illness.
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Ofwat backs down on water licence changes

LONDON (Reuters) - Britain's water regulator Ofwat backed down over controversial changes to make water company licences more flexible after the firms affected rejected the original proposals.
Ofwat, which oversees Britain's water and sewage operators, is trying to change licences to increase the flexibility it has over controlling water prices, but on Friday compromised on some of those changes.
Pennon Group and United Utilities Group both welcomed the move which means that any future amendments to licenses will have to go through a separate process.
"It's a compromise by Ofwat and its going to be received very positively by the markets," said Dominic Nash from Liberum Capital, who has a "buy" rating on United Utilities and Pennon.
Shares in British water companies gained and were amongst the top risers in Britain's bluechip index. Severn Trent was up 1.4 percent, United Utilities was up 1.4 percent and Pennon rose 0.6 percent in mid-morning trading.
The UK water sector has fallen 10 to 20 percent since the October announcement, according to Nash.
In a bid to increase efficiency and transparency at Britain's water companies, Ofwat gave water companies four weeks in October to accept proposals to make price-setting more flexible or be referred to competition authorities.
The majority of firms, 16 out of 25 written responses received by Ofwat, rejected the idea, saying that it created unnecessary uncertainty for investors.
Currently Ofwat sets five-year price limits by targeting how much revenue firms can make according to a formula which accounts for inflation.
The coalition government committed to opening up competition on the retail side of water companies in its draft water bill published in July.
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Pope takes anti-gay marriage stance to new level

VATICAN CITY (AP) — The pope took his opposition to gay marriage to new heights Friday, denouncing what he described as people manipulating their God-given gender to suit their sexual choices — and destroying the very "essence of the human creature" in the process.
Benedict XVI made the comments in his annual Christmas speech to the Vatican bureaucracy — one of his most important speeches of the year. He dedicated it this year to promoting family values in the face of vocal campaigns in France, the United States, Britain and elsewhere to legalize same-sex marriage.
In his remarks, Benedict quoted the chief rabbi of France, Gilles Bernheim, in saying the campaign for granting gays the right to marry and adopt children was an "attack" on the traditional family made up of a father, mother and children.
"People dispute the idea that they have a nature, given to them by their bodily identity, that serves as a defining element of the human being," he said. "They deny their nature and decide that it is not something previously given to them, but that they make it for themselves."
"The manipulation of nature, which we deplore today where our environment is concerned, now becomes man's fundamental choice where he himself is concerned," he said.
It was the second time in a week that Benedict has taken on the question of gay marriage, which is dividing France after proponents scored big electoral wins in the United States last month. In his recently released annual peace message, Benedict said gay marriage, like abortion and euthanasia, was a threat to world peace.
After the peace message was released last week, gay activists staged a small protest in St. Peter's Square.
Church teaching holds that homosexual acts are "intrinsically disordered," though it stresses that gays should be treated with compassion and dignity. As pope and as head of the Vatican's orthodoxy watchdog before that, Benedict has been a strong enforcer of that teaching: One of the first major documents of his pontificate said men with "deep-seated" homosexual tendencies shouldn't be ordained priests.
For the Vatican, though, the gay marriage issue goes beyond questions of homosexuality, threatening what the church considers to be the bedrock of society: a family based on a man, woman and their children.
But the Vatican's opposition has been falling on deaf ears. Under then-Socialist leader Jose Luis Rodriguez Zapatero, the largely Roman Catholic Spain legalized gay marriage. Earlier this month, the British government announced it will introduce a bill next year legalizing gay marriage, though it would ban the Church of England from conducting same-sex ceremonies.
In France, President Francois Hollande has said he would enact his "marriage for everyone" plan within a year of taking office last May. The text will go to parliament next month. But the country has been divided by vocal opposition from religious leaders, prime among them Bernheim, as well as some politicians and parts of rural France.
The Socialist government's plan also envisions legalizing same-sex adoptions. Benedict quoted Bernheim as denouncing that in his view, under the plan, a child is now essentially considered an object people have a right to obtain.
"When freedom to be creative becomes the freedom to create oneself, then necessarily the Maker himself is denied and ultimately man too is stripped of his dignity as a creature of God," Benedict said.
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UK High Court blocks drone intelligence challenge

LONDON (AP) — Britain's High Court on Friday blocked a legal bid for an inquiry into the possible role of the country's spy agencies in aiding covert CIA drone strikes in Pakistan's northwest tribal region.
Noor Khan, a 27-year-old whose father was killed by a drone strike in northwest Pakistan in March 2011, had asked the High Court to examine whether Britain intelligence officials assisted the action and whether they may be liable for prosecution.
High Court judges on Friday refused to allow Khan to bring a legal challenge, saying his lawyer's arguments had been an "attempt to shroud" a real goal of getting the court to publicly denounce U.S. drone strikes.
"The real aim is to persuade this court to make a public pronouncement designed to condemn the activities of the United States in North Waziristan, as a step in persuading them to halt such activity," judge Alan Moses said, adding that Khan's lawyer "knows he could not obtain permission overtly for such a purpose."
Law firm Leigh Day & Co., which is representing Khan along with legal aid charity Reprieve, said it was disappointed by the ruling and that Khan planned to appeal.
Khan's lawyers had claimed that civilian staff at Britain's electronic listening agency, GCHQ, could be "secondary parties to murder" for providing "locational intelligence" to the CIA in directing its drone attack program.
The ruling was a victory for the British government, whose lawyers had said that ties between Britain, the U.S. and Pakistan could be jeopardized if a judge granted Khan's request.
Khan's father, Malik Daud Khan, was attending a meeting of local elders in Datta Khel, in North Waziristan, when it was hit by a missile fired from an unmanned drone, killing around 40 people.
Since 2004, CIA drones have targeted suspected militants with missile strikes in the Pakistani tribal regions, killing hundreds of people. The program is controversial because of questions about its legality, the number of civilians it has killed and its impact on Pakistan's sovereignty.
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UK told to add break-up threat to bank reform

LONDON (Reuters) - Britain needs to introduce legislation that could break up banks if standards slip because current reform proposals fall short of what is needed, an influential parliamentary panel said.
The Parliamentary Commission on Banking Standards also said on Friday the government could set tougher rules for how much leverage banks were allowed, adding that the committee itself would consider whether to propose banning proprietary trading.
Britain, going further than most countries in pushing through change, is forcing banks to separate, or "ring-fence", their domestic retail arms from riskier investment banking.
"The proposals, as they stand, fall well short of what is required. Over time, the ring-fence will be tested and challenged by the banks," PCBS chairman Andrew Tyrie said.
"That is why we recommend electrification. The legislation needs to set out a reserve power for separation; the regulator needs to know he can use it."
The Treasury said Chancellor George Osborne will consider the proposals and respond when reforms are brought to Parliament early next year.
Osborne appears unlikely to go as far as the PCBS wants. A previous Commission, led by John Vickers, said a full break-up of banks was not needed, and Osborne may decide that if the ring-fence plan proved to be flawed, the Treasury could then introduce fresh legislation to strengthen it.
Britain wants to prevent a repeat of the need for taxpayers to bail out lenders, as happened in 2008 with a 65 billion pound ($106 billion) double rescue of Lloyds Banking Group and Royal Bank of Scotland.
The PCBS, asked to assess government plans before their introduction, said legislation should be introduced now because banks had to be discouraged from gaming the new rules for the ring-fence to succeed.
"All history tells us they will do this unless incentivised not to," Tyrie said, adding politicians could be lobbied to put holes in the ring-fence too.
"Additional powers are essential to provide adequate incentives for the banks to comply not just with the rules of the ring-fence, but also with their spirit," the Commission said in its 146-page report.
Bank shares fell up to 2.5 percent, underperforming a 1.1 percent lower European bank index.
"I would be concerned ... that a future, politically-motivated government or regulator could take draconian action with impunity. It would be putting in place a simple mechanism for banks to be picked on and to be broken up," Investec Securities analyst Ian Gordon said.
"One could argue that threat is there anyway and could be implemented," he said, adding the PCBS had added to uncertainty about reforms.
The threat of break-up would be most damaging to Barclays - whose shares fell 2.5 percent - and to a lesser degree to HSBC and RBS, analysts said.
In a concession to most banks, the PCBS said banks should be allowed to sell simple derivatives within their ring-fenced operation, which had been a point of contention.
"MORE NEEDS TO BE DONE"
The PCBS was set up after Barclays was fined for rigging global interest rates and banks were slammed for a series of mis-selling scandals.
Tyrie said the market rigging and corruption shown this week at Swiss bank UBS "beggar belief. It is the clearest illustration yet that a great deal more needs to be done to restore standards in banking.
Among plans to rein in risk-taking is a cap on leverage, which Britain plans to set at 33 times banks' capital - weaker than an original proposal for a maximum of 25 times.
The PCBS said it was "not persuaded by the government's relaxation" of that leverage rule, adding the future regulator, the Financial Policy Committee, should set the leverage cap.
Tyrie said it may also be appropriate for Britain to block banks from any proprietary trading - known as the Volcker Rule in the United States - and the PCBS will take evidence on that early next year.
The cross-party commission, which includes Justin Welby, the next Archbishop of Canterbury - the Church of England's most senior bishop - has spent the past three months deliberating the reform plans, taking evidence from the bosses of major banks as well as regulators, politicians and central bankers.
It said it was concerned too many reforms will be left to the discretion of the future regulator, and said the power to force bondholders to take losses when a bank hits trouble should be included in primary legislation.
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Australian DJs Break Silence On Kate Middleton Prank Tragedy

Australian DJs Mel Greig and Michael Christian, who pranked called nurse Jacintha Saldanha at London's King Edward VII Hospital about Kate Middleton's pregnancy, are speaking out following the death of Saldanha.

"I haven't stopped thinking about it since it happened. My first question was, is she a mother?" Mel said in an interview on Australian TV show "A Current Affair," when asked about Saldanha, who took the DJs' call before transferring it to another nurse in the Duchess' hospital ward.

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Saldanha was later found dead of an apparent suicide.

"[I'm] very saddened for the family, can't imagine what they'd be going through," Mel continued.

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"I'm gutted, shattered, heartbroken," Michael said. "We're still trying to get our heads around everything, trying to make sense of the situation."

The radio personalities explained that they never thought their prank would have worked.

"We assumed that we'd be hung up on and that'd be that," Michael said. "We were never trying to fool someone. We assumed that with the voices we put on we were going to get told off and that was the gag."

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"The accents were terrible. It was designed to be stupid, we never meant to get that far, from the little corgis barking in the background, we obviously wanted it to be a joke," Mel continued. "We thought 100 people before us would have tried the same thing. We did not just see that actually working."

Adding, "Nothing that can make me feel worse than what I feel right now and what I feel for the family. We're so sorry this has happened to them."

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Michael echoed his co-worker's sentiments saying, "What's important right now is the family of Jacintha is getting the support and love they deserve. That's what's important here. It's nothing more than a tragic turn of events that no one could have predicted and as for the part we played, we're incredibly sorry."

Following Saldanha's death, a rep from the hospital where the late nurse worked sent a letter to the DJs' radio station.

"King Edward VII's Hospital cares for sick people, and it was extremely foolish of your presenters even to consider trying to lie their way through to one of our patients, let alone actually make the call," wrote King Edward VII Hospital chairman Lord Glenarthur. "The longer term consequence has been reported around the world and is, frankly, tragic beyond words."
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Australian DJs break silence over royal prank tragedy

CANBERRA (Reuters) - Two Australian radio announcers who made a prank call to a British hospital treating Prince William's pregnant wife Kate broke a three-day silence on Monday to speak of their distress at the apparent suicide of the nurse who took their call.

The 2DayFM Sydney-based announcers, Mel Greig and Michael Christian, said the tragedy had left them "shattered, gutted, heartbroken".

Greig and fellow presenter and prank mastermind Christian have been in hiding since nurse Jacintha Saldanha's death and the subsequent social media outrage at their prank.

Their show, "Hot 30," has been terminated, the station's parent company, Southern Cross Austereo (SCA), said in a statement on Monday. SCA also announced a company-wide suspension of prank calls.

Greig told Australian television her first thought when told of Saldanha's death was for her family.

"Unfortunately I remember that moment very well, because I haven't stopped thinking about it since it happened," she said, amid tears, her voice quavering with emotion. "I remember my first question was 'was she a mother?'"

"I've wanted to just reach out to them and just give them a big hug and say sorry. I hope they're okay, I really do. I hope they get through this," said Greig when asked about Saldanha's two children, left with their father Ben Barboza.

Saldanha, 46, was found dead in staff accommodation near London's King Edward VII hospital on Friday after putting the hoax call through to a colleague who unwittingly disclosed details of Kate's morning sickness to 2DayFM's presenters.

The nurse's family travelled from their home in the western English city of Bristol to meet with politician Keith Vaz in London on Monday.

British Prime Minister David Cameron said news of the Saldanha's death was "shocking".

"I just feel incredibly sorry for her and her family. It's an absolute tragedy this has happened, and I'm sure everyone will want to reflect on how it was allowed to happen," he said.

The hospital at which Saldanha worked told the BBC it had not disciplined her for taking the prank call. On Monday, it announced the launch of a memorial fund in Saldanha's memory to benefit her family.

A post-mortem examination would be conducted on Tuesday, police said.

FIRESTORM

A recording of the call, broadcast repeatedly by the station, rapidly became an Internet hit and was reprinted as a transcript in many newspapers. But news of Saldanha's death sparked a firestorm of vitriolic comments towards the DJs on Facebook and Twitter.

Christian said his only wish was that Saldanha's grief-stricken family received proper support.

"I hope that they get the love, the support, the care that they need, you know," said Christian, who like Greig struggled to talk about the tragedy.

Both Greig, 30, and Christian were relatively new to the station, with Greig joining in March and Christian having been in the job only a few days before the prank call after a career in regional radio.

Greig said she did not think their prank would work.

"We thought a hundred people before us would've tried it. We thought it was such a silly idea and the accents were terrible and not for a second did we expect to speak to Kate, let alone have a conversation with anyone at the hospital. We wanted to be hung up on," she said.

SCA, 2Day's parent company, has received more than 1,000 complaints from Australians over the actions of the popular presenters, who have both been taken off air during an broadcasting watchdog investigation.

"SCA and the hosts of the radio program have also decided that they will not return to the airwaves until further notice," SCA said in a statement.

Shares in SCA fell 5 percent on Monday after two major Australian companies pulled their advertising with the radio station in protest and other advertising was suspended.

The station said it had tried to contact hospital staff five times over the recordings.

"It is absolutely true to say that we actually did attempt to contact those people on multiple occasions," said SCA chief executive Rhys Holleran. "No one could have reasonably foreseen what has happened. I can only say the prank call is not unusual around the world."

Australia's Communications Minister Stephen Conroy sought to deflect calls for more media regulation, telling journalists that a looming investigation by Australia's independent regulator should be allowed to happen without political interference.
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Australian DJs break silence over UK royal prank tragedy

CANBERRA (Reuters) - Two Australian radio announcers who made a prank call to a British hospital treating Prince William's pregnant wife Kate broke a three-day silence on Monday to speak of their distress at the apparent suicide of the nurse who took their call.

The 2DayFM Sydney-based announcers, Mel Greig and Michael Christian, said the tragedy had left them "shattered, gutted, heartbroken".

Greig and fellow presenter and prank mastermind Christian have been in hiding since nurse Jacintha Saldanha's death and the subsequent social media outrage at their prank.

Their show, "Hot 30," has been terminated, the station's parent company, Southern Cross Austereo (SCA), said in a statement on Monday. SCA also announced a company-wide suspension of prank calls.

Greig told Australian television her first thought when told of Saldanha's death was for her family.

"Unfortunately I remember that moment very well, because I haven't stopped thinking about it since it happened," she said, amid tears, her voice quavering with emotion. "I remember my first question was 'was she a mother?'"

"I've wanted to just reach out to them and just give them a big hug and say sorry. I hope they're okay, I really do. I hope they get through this," said Greig when asked about Saldanha's two children, left with their father Ben Barboza.

Saldanha, 46, was found dead in staff accommodation near London's King Edward VII hospital on Friday after putting the hoax call through to a colleague who unwittingly disclosed details of Kate's morning sickness to 2DayFM's presenters.

The nurse's family travelled from their home in the western English city of Bristol to meet with politician Keith Vaz in London on Monday.

British Prime Minister David Cameron said news of the Saldanha's death was "shocking".

"I just feel incredibly sorry for her and her family. It's an absolute tragedy this has happened, and I'm sure everyone will want to reflect on how it was allowed to happen," he said.

The hospital at which Saldanha worked told the BBC it had not disciplined her for taking the prank call. On Monday, it announced the launch of a memorial fund in Saldanha's memory to benefit her family.

A post-mortem examination would be conducted on Tuesday, police said.

FIRESTORM

A recording of the call, broadcast repeatedly by the station, rapidly became an Internet hit and was reprinted as a transcript in many newspapers. But news of Saldanha's death sparked a firestorm of vitriolic comments towards the DJs on Facebook and Twitter.

Christian said his only wish was that Saldanha's grief-stricken family received proper support.

"I hope that they get the love, the support, the care that they need, you know," said Christian, who like Greig struggled to talk about the tragedy.

Both Greig, 30, and Christian were relatively new to the station, with Greig joining in March and Christian having been in the job only a few days before the prank call after a career in regional radio.

Greig said she did not think their prank would work.

"We thought a hundred people before us would've tried it. We thought it was such a silly idea and the accents were terrible and not for a second did we expect to speak to Kate, let alone have a conversation with anyone at the hospital. We wanted to be hung up on," she said.

SCA, 2Day's parent company, has received more than 1,000 complaints from Australians over the actions of the popular presenters, who have both been taken off air during an broadcasting watchdog investigation.

"SCA and the hosts of the radio program have also decided that they will not return to the airwaves until further notice," SCA said in a statement.

Shares in SCA fell 5 percent on Monday after two major Australian companies pulled their advertising with the radio station in protest and other advertising was suspended.

The station said it had tried to contact hospital staff five times over the recordings.

"It is absolutely true to say that we actually did attempt to contact those people on multiple occasions," said SCA chief executive Rhys Holleran. "No one could have reasonably foreseen what has happened. I can only say the prank call is not unusual around the world."

Australia's Communications Minister Stephen Conroy sought to deflect calls for more media regulation, telling journalists that a looming investigation by Australia's independent regulator should be allowed to happen without political interference.
Read More..

Australian DJs break silence over UK royal prank tragedy

SYDNEY (AP) — They say they expected a hang-up and a few laughs. Instead, the Australian DJs behind a hoax phone call to the London hospital where the pregnant Duchess of Cambridge was being treated were deeply apologetic Monday as they described how their joke ended up going too far.

The phone call — in which they impersonated Queen Elizabeth II and Prince Charles — went through, and their station broadcast and even trumpeted the confidential information received. Whatever pride there had been over the hoax was obliterated by worldwide public outrage after Friday's death of Jacintha Saldanha, the first nurse they talked to.

"There's not a minute that goes by that we don't think about her family and what they must be going through," 2DayFM radio host Mel Greig told Australia's "A Current Affair," her voice shaking. "And the thought that we may have played a part in that is gut-wrenching."

Police have not disclosed the cause of Saldanha's death, but many have assumed it was related to the stress from the call. An autopsy is being held Tuesday.

Prime Minister David Cameron said at a luncheon Monday that "the suicide of this nurse, who worked incredibly hard and obviously was incredibly dedicated ... is an absolute tragedy."

His office later said Cameron's comment was not an official acknowledgment that the death was a suicide.

Greig and co-host Michael Christian spoke publicly about the prank for the first time in the televised interview. Another interview on rival show "Today Tonight" also aired Monday.

The hoax has sparked broad outrage, with the hosts receiving death threats and demands they be fired.

The radio station's owner said Greig and Christian were receiving psychological counseling to deal with the tragedy. A British lawmaker said he wished that much was being done for Saldanha's grieving family.

"They are devastated by what has happened," said Labour legislator Keith Vaz, who has visited Saldanha's husband and two children at their home in Bristol, southwest England.

"They want the facts to be established so that they can effectively grieve," Vaz said. "What is needed, clearly, is an inquiry by the hospital into how this tragic case happened."

Both DJs apologized for the hoax and cried when asked about the moment they learned that the Saldanha was dead. But neither described having reservations before the hoax tape was broadcast; they said higher-ups at the station had made the decision to air it.

"We didn't have that discussion," Greig said.

Southern Cross Austereo, the parent company of 2DayFM, released a statement Monday saying that Greig and Christian's show had been terminated and there would be a company-wide suspension of prank calls. The DJs themselves remain suspended.

Saldanha, 46, had transferred their call last week to a fellow nurse caring for the duchess, who was being treated for acute morning sickness at King Edward VII Hospital in London. That nurse said the former Kate Middleton "hasn't had any retching with me and she's been sleeping on and off."

Three days later, Saldanha was found dead at the hospital's nurses' accommodation.

The DJs said when the idea for the call came up in a team meeting, no one expected that they would actually be put through to the duchess' ward.

"We just assumed we'd get cut off at every single point and that'd be it," Christian said.

"The joke 100 percent was on us," he said. "The idea was never, 'Let's call up and get through to Kate,' or 'Let's speak to a nurse.' The joke was our accents are horrible, they don't sound anything like who they're intended to be."

Southern Cross Austereo CEO Rhys Holleran has called Saldanha's death a tragedy but defended the prank as a standard part of radio culture. He has also insisted the station had not broken any laws. He told Fairfax Radio on Monday that his station had tried at least five times to contact the London hospital to discuss the prank before it aired, but never succeeded.

When asked why the company made the attempts, Holleran replied "because we did want to speak with them about it." When pressed as to whether this meant the station had reservations about the pre-recorded prank, Holleran said only, "I think that that's a process that we follow and we have checks and balances on all those things."

The King Edward VII Hospital denied that its management had been contacted by the radio station.

"Following the hoax call, the radio station did not speak to anyone in the hospital's senior management or anyone at the company that handles our media inquiries," the hospital said in a statement.

It also announced a memorial fund to help support the nurse's family, with the hospital making the first donation.

Saldanha's children and husband, Ben Barboza, on Monday visited the hospital, which said it was offering assistance to the family.

Barboza expressed his sadness on his Facebook page with a short note "Obituary Jacintha."

"I am devastated with the tragic loss of my beloved wife Jacintha in tragic circumstances," he wrote. He said she will be laid to rest in Shirva, India.

Meanwhile, there were indications that the Duchess of Cambridge still struggled with acute morning sickness over the weekend when her husband, Prince William, cancelled a Sunday night engagement.

Palace officials said no final decision had been made on whether Kate would attend Wednesday's British premiere of "The Hobbit," where she and William are to be the guests of honor.
Read More..

Australian DJs apologize for royal hoax call

SYDNEY (AP) — They say they expected a hang-up and a few laughs. Instead, the Australian DJs behind a hoax phone call to the London hospital where the pregnant Duchess of Cambridge was being treated were deeply apologetic Monday as they described how their joke ended up going too far.

The phone call — in which they impersonated Queen Elizabeth II and Prince Charles — went through, and their station broadcast and even trumpeted the confidential information received. Whatever pride there had been over the hoax was obliterated by worldwide public outrage after Friday's death of Jacintha Saldanha, the first nurse they talked to.

"There's not a minute that goes by that we don't think about her family and what they must be going through," 2DayFM radio host Mel Greig told Australia's "A Current Affair," her voice shaking. "And the thought that we may have played a part in that is gut-wrenching."

Police have not disclosed the cause of Saldanha's death, but many have assumed it was related to the stress from the call. An autopsy is being held Tuesday.

Prime Minister David Cameron said at a luncheon Monday that "the suicide of this nurse, who worked incredibly hard and obviously was incredibly dedicated ... is an absolute tragedy."

His office later said Cameron's comment was not an official acknowledgment that the death was a suicide.

Greig and co-host Michael Christian spoke publicly about the prank for the first time in the televised interview. Another interview on rival show "Today Tonight" also aired Monday.

The hoax has sparked broad outrage, with the hosts receiving death threats and demands they be fired.

The radio station's owner said Greig and Christian were receiving psychological counseling to deal with the tragedy. A British lawmaker said he wished that much was being done for Saldanha's grieving family.

"They are devastated by what has happened," said Labour legislator Keith Vaz, who has visited Saldanha's husband and two children at their home in Bristol, southwest England.

"They want the facts to be established so that they can effectively grieve," Vaz said. "What is needed, clearly, is an inquiry by the hospital into how this tragic case happened."

Both DJs apologized for the hoax and cried when asked about the moment they learned that the Saldanha was dead. But neither described having reservations before the hoax tape was broadcast; they said higher-ups at the station had made the decision to air it.

"We didn't have that discussion," Greig said.

Southern Cross Austereo, the parent company of 2DayFM, released a statement Monday saying that Greig and Christian's show had been terminated and there would be a company-wide suspension of prank calls. The DJs themselves remain suspended.

Saldanha, 46, had transferred their call last week to a fellow nurse caring for the duchess, who was being treated for acute morning sickness at King Edward VII Hospital in London. That nurse said the former Kate Middleton "hasn't had any retching with me and she's been sleeping on and off."

Three days later, Saldanha was found dead at the hospital's nurses' accommodation.

The DJs said when the idea for the call came up in a team meeting, no one expected that they would actually be put through to the duchess' ward.

"We just assumed we'd get cut off at every single point and that'd be it," Christian said.

"The joke 100 percent was on us," he said. "The idea was never, 'Let's call up and get through to Kate,' or 'Let's speak to a nurse.' The joke was our accents are horrible, they don't sound anything like who they're intended to be."

Southern Cross Austereo CEO Rhys Holleran has called Saldanha's death a tragedy but defended the prank as a standard part of radio culture. He has also insisted the station had not broken any laws. He told Fairfax Radio on Monday that his station had tried at least five times to contact the London hospital to discuss the prank before it aired, but never succeeded.

When asked why the company made the attempts, Holleran replied "because we did want to speak with them about it." When pressed as to whether this meant the station had reservations about the pre-recorded prank, Holleran said only, "I think that that's a process that we follow and we have checks and balances on all those things."

The King Edward VII Hospital denied that its management had been contacted by the radio station.

"Following the hoax call, the radio station did not speak to anyone in the hospital's senior management or anyone at the company that handles our media inquiries," the hospital said in a statement.

It also announced a memorial fund to help support the nurse's family, with the hospital making the first donation.

Saldanha's children and husband, Ben Barboza, on Monday visited the hospital, which said it was offering assistance to the family.

Barboza expressed his sadness on his Facebook page with a short note "Obituary Jacintha."

"I am devastated with the tragic loss of my beloved wife Jacintha in tragic circumstances," he wrote. He said she will be laid to rest in Shirva, India.

Meanwhile, there were indications that the Duchess of Cambridge still struggled with acute morning sickness over the weekend when her husband, Prince William, cancelled a Sunday night engagement.

Palace officials said no final decision had been made on whether Kate would attend Wednesday's British premiere of "The Hobbit," where she and William are to be the guests of honor.
Read More..