Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
CBC NEWS: The financial dispute between an Islamic bank and about 200 families whose mortgages are in limbo, moved to a Toronto courtroom on Thursday.
The homeowners had interest-free mortgages with United Muslim Financial totalling about $32 million.
Since 2005, UM Financial has offered loans and mortgages to people who want to adhere strictly to Islamic (Shariah) law, under which no interest can be charged on a loan.
The court will now decide what to do with those mortgages.
UM Financial was ordered into receivership on Oct. 7. » | CBC News | Friday, November 11, 2011
Sales down 29% in the first two weeks of August compared to year ago. Photo: The Globe and Mail
THE GLOBE AND MAIL: The slump in housing sales accelerated in August, the Greater Toronto Real Estate Board said.
Sales in Toronto were down 29 per cent in the first two weeks of August compared to last year. The average sale price was $412,934, 3.5 per cent lower than mid-July.
The number of new listings were 8 per cent lower than last year at 4,770.
“It makes sense that the number of transactions has dipped over the past few months in comparison to last year's record results,” said board president Bill Johnston. >>> | Tuesday, August 17, 2010
June 28, 2010
G20 Protesters Clash With Police
June 27, 2010
Day Dawns for G20 Discussion After Night of Protests and Arrests
Police officers on Queen Street West (Toronto) Saturday night. Photograph: The Globe and Mail
THE GLOBE AND MAIL: Vigil at detention centre broken up by police; more than 400 arrested Saturday as storefronts vandalized, at least three police cars burned
More than 400 people have been arrested in connection with G20-related protests, and skirmishes between riot police and protesters continued into the early morning Sunday in downtown Toronto, only hours before leaders of the G20 are scheduled to begin their summit.
Police officers, with batons out, were searching bushes around a University of Toronto building near Russell Street and Spadina Avenue, in what appeared to be a major raid. At least two police buses were on the scene, along with more than 10 other police vehicles, mostly unmarked minivans. One bus was a "prisoner bus," a police officer said.
Several dozen police officers were searching trash cans. At least two people were seen with handcuffs on. More than 50 people had been arrested for wielding "street-type weaponry", such as bricks, police said. Some of thopse arrested looked much older than typical university students. The raid was at the Bancroft Building, the Earth Science Centre and the Graduate Students Centre.
After more than 14 hours of sometimes-violent confrontations between protesters and officers, the downtown core was largely quiet; discarded water bottles and plastic zip-tie handcuffs littered streets that had been the scenes of standoffs hours before. >>> Anna Mehler Paperny and Chris Hannay | Sunday, June 27, 2010
G20 Protesters Take to Toronto Streets
Police Cars Ablaze at G20
World on Economic ‘Tightrope:’ Harper
THE GLOBE AND MAIL: Summit turns to dilemma of sustaining growth versus cutbacks
Finance Minister Jim Flaherty and Prime Minister Stephen Harper. Photograph: The Globe and Mail
Group of 20 leaders meeting in Toronto Sunday will try to come up with an agreement on fiscal belt-tightening that finds the right balance between telling markets they are serious about cutting deficits and debt, and keeping the global economy from backsliding.
Prime Minister Stephen Harper opened the second day of talks by saying the summit must strike the proper balance between sustaining economic growth and pulling back fiscal deficits.
“Here is the tightrope we must walk,” Mr. Harper said. “To sustain the recovery, it is imperative that we follow through on existing stimulus plans. At the same time, advanced countries must send a clear message that as our stimulus plans expire, we will focus on getting our fiscal houses in order.”
Separately Sunday, German Chancellor Angela Merkel told reporters the summit leaders will agree to Mr. Harper’s call for countries to slash their budget deficits by half by 2013.
Gouvernance : Le sommet de Toronto coûtera jusqu’à 1,2 milliard
Photo : Le Temps
LE TEMPS: Précédé par le G8, le G20 commence ce samedi. Les Européens font pression pour une taxe bancaire
La ville est déjà morte. Malgré la température estivale, Toronto semble désertée par ses habitants. La presse canadienne l’explique par le périmètre de sécurité dressé autour de l’Exhibition Center, au bord du lac Ontario, qui accueille dès ce soir la quatrième réunion du G20. De multiples restrictions de circulation paralysent une partie du centre ville. Des commerçants, qui redoutent aussi les manifestations, chiffrent déjà la perte à quelque 15% de leur chiffre d’affaires mensuel. «Moi, j’ai loué toutes mes chambres, alors j’aimerais un G20 tous les week-ends!», plaisante un hôtelier interrogé par Le Temps. >>> Frédéric Lelièvre, Toronto | Vendredi 25 Juin 2010
Cameron Risks Conflict with US Over Pace of Spending Cuts
David Cameron arrives in Toronto where he will attend the G8 and G20 summits. Photo: The Times
THE TIMES: David Cameron will risk a trans-Atlantic rift over his Budget today by insisting that Britain is right to slash spending despite American warnings that deep cuts could derail the global recovery.
Tim Geithner, President Obama’s Treasury Secretary, said it was paramount for European leaders to concentrate on growth, and that they could not rely on America to drive the recovery.
His comments reflect concern in Washington that European governments - Germany in particular - have cut their budgets too hard and too fast, and that the risk to growth could drag the world economy back towards recession.
Mr Cameron, who holds face-to-face talks with Mr Obama tomorrow in Toronto, will insist that he had no choice because the Greek crisis showed the dangers to governments of failing to deal with vast debts.
“For countries with big fiscal deficits, that path to recovery requires us to deal decisively with the deficit problem,” said the Prime Minister’s official spokesman.
“It is perfectly consistent to have strong position on fiscal consolidation and be pro growth.” Read on and comment >>> Roland Watson, Toronto | Friday, June 25, 2010
June 07, 2010
Luxury Storefronts at Rock-bottom Prices
Pedestrians walk past the Versace store on Fifth Avenue in New York. Photograph: The Globe and Mail
THE GLOBE AND MAIL: Compared to Paris, New York, even Athens, Canada’s best retail spaces come cheap
Rents for prime retail space in Canada’s swankiest fashion districts may seem high by Canadian standards, but the most expensive storefronts in the country are still being rented at bargain-basement prices compared to other global centres.
Montreal’s Saint Catherine Street and Toronto’s Bloor Street districts were the priciest in the country, with average lease rates at $294.12 (U.S.) a square foot. The cost of space placed the cities in a tie for 32nd place in the world, sandwiched between Honolulu and Amsterdam.
Globally, space along the Champs Élysées in Paris was the most expensive at $1,255.90 a square foot. New York’s Fifth Avenue, Hong Kong’s Russell Street and London’s Bond Street all saw rents higher than $1,100 a square foot. >>> Steve Ladurantaye | Monday, June 07, 2010
