Canada Stocks-banks, Industrials Boost Tsx As Focus Stays On Fed

Vasilios George Makris, 29, pleaded guilty to participating in a riot and assaulting another person in the June 15, 2011, Stanley Cup riot in downtown Vancouver. () * One day after Toronto Mayor Rob Ford celebrated C$660 million ($640.81 million) in federal funding for a Scarborough subway extension, another council battle is brewing over how Toronto will pay for transit expansion. Toronto City Council will be asked next month to decide how to fill a funding gap estimated to be more than C$900 million if it wishes to follow the underground route from Kennedy Station to Sheppard Avenue favored by the TTC and city council. () * The Alberta government plans to prohibit building in so-called floodways – designated areas close to rivers – to mitigate damages from future floods. Municipal Affairs Minister Doug Griffiths, charged with leading Alberta’s flood recovery effort, said the Progressive Conservatives will introduce legislation this fall forcing municipalities to block development in the most flood-prone zones. () Reports in the business section: * The federal government has launched a public relations campaign to beat back criticism of its wireless policy by the Big Three industry players – even as the telecom companies face gag orders that limit what they can say on the topic. () * China has bought a chunk of one of the world’s largest potash producers, giving the Asian country more control over what price it should pay for the fertilizer – a move that could drag down prices of the mineral and eat into profits of Canada’s potash companies. () * After 10 years as the lead advertising agency for the Bank of Montreal, Cossette is resigning the account. The decision, announced on Tuesday, comes amid a tumultuous time in bank marketing in Canada. () NATIONAL POST * New Democrat member of Parliament Pat Martin accepted a personal loan from the New Democratic Party and numerous donations from labor unions to help pay down debt incurred in a defamation lawsuit over the robocalls case. Documents filed with the federal ethics commissioner by the Manitoba MP earlier this month show he accepted contributions to a legal defense fund from the Canadian Labour Congress, the United Steelworkers and the Canadian Union of Public Employees, and 14 other unions or locals. () * The British Columbia New Democratic Party (NDP), shell-shocked by the May election debacle and leader Adrian Dix’s intention to resign, got a welcome dose of enthusiasm on Tuesday when four federal members of Parliament from British Columbia said they would consider bids to lead the provincial party. They include Nathan Cullen, the federal NDP House leader who ran a surprising third in the 2012 federal NDP leadership vote won by Tom Mulcair, and Jinny Sims, the firebrand former British Columbia Teachers’ Federation leader. () * After 17 months in Swiss custody, former SNC-Lavalin Group Inc executive Riadh Ben Aissa is to return to Canada to face fraud, bribery and money laundering charges in relation to a Montreal hospital contract.

Armed Kenyan forces take position to secure the area around the shopping mall as ambulances move in to carry the injured. A woman reacts after she is rescued from the mall. A couple flee the area. As night fell, authorities said they had cornered the gunmen in the mall. Kenya mall attack >> Photos: Kenya mall attack “What we have learned for the last five years is we have to speak out against this,” Bihi said. Al-Shabaab breaks new ground with complex Nairobi attack In a message on its now-suspended Twitter page, Al-Shabaab named nine people it said were among the gunmen who stormed Nairobi’s Westgate Mall on Saturday. Three of them were from the United States and one each was from Canada, Finland and the United Kingdom, it said. “It isn’t totally surprising, given the fact that we know Shabaab has recruited in the United States,” CNN terrorism analyst Peter Bergen said Sunday. “We also know they have recruited in a number of European countries.” Bergen noted that the group’s Twitter page includes tweets in colloquial English, “the kind of English that an American, or perhaps somebody who grew up in the UK, would be using.” Al-Shabaab is fighting to implement a stricter form of Islamic law in Somalia, a struggle in which Kenyan troops have been directly involved since 2011. Kenyan troops wrested control of the key Somali port of Kismayo from the jihadists in 2012, and Somali government and African Union troops drove the group out of its strongholds in the capital Mogadishu in 2011. Tweets from @cnni/nairobi-attack As early as 2008, the FBI warned that more than a dozen youths, some of them American citizens, had left Minneapolis, home to the largest Somali population in the United States. At least three are believed to have carried out suicide bombings in Somalia, where an internationally backed interim government has taken tenuous root after two decades of civil war and near-anarchy. Minneapolis’ Somali community “is 100% against terror,” said Bihi. But he said a lot of families arrive owing “a lot of debt,” and community youth programs were “almost nil.” Al-Shabaab recruiters engaged teens by providing them entertainment and role models, then “brainwashed” them, he said.

Somali jihadists recruit in U.S., Canada, Europe

central bank’s next move. Among the data, a private sector report said U.S. consumer confidence slipped in September as consumers’ outlook on the future darkened a little, while U.S. home prices slowed their rate of gains in July. But German business morale improved slightly to its highest level in 17 months in September, suggesting Europe’s largest economy is staging a firm recovery. The financial sector had the biggest positive influence on the index. The group is up 11 percent this year, compared with the benchmark index’s 3 percent gain. “Banks are leading the charge,” said Allan Small, senior investment advisor at Dundee Wealth, adding the banking sector is “a very good growth and income play”. “A lot of people are flocking to it,” he added. “If the banks continue to do what they are doing, they make up enough of our market to power the TSX.” The Toronto Stock Exchange’s S&P/TSX composite index closed up 37.71 points, or 0.29 percent, at 12,848.89. Nine of the 10 main sectors on the index were higher. Financials, the index’s most heavily weighted sector, rose 0.4 percent. In the group, Toronto-Dominion Bank gained 0.7 percent to C$92.03 and played the biggest role of any single stock in leading the index higher. Royal Bank of Canada added 0.4 percent to C$66.55.