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Canadian dollar stumbles as US plans tariffs on lumber

April 25th, 2017

Canada’s dollar, known as the loonie, dropped to its lowest since December after the U.S. announced plans to impose tariffs on its Northern neighbors’ exports of softwood lumber.

The U.S. dollar was fetching 1.3552 Canadian dollars at 8:47 a.m. HK/SIN, compared with around C$1.3408 just before the announcement.

 

U.S. Commerce Secretary Wilbur Ross said on Monday that anti-subsidy tariffs averaging around 20 percent would be imposed, affecting $5 billion worth of imports of softwood lumber imports from Canada, Reuters reported.

 In total, Canada exported around C$8.6 billion (around $6.37 billion) worth of softwood lumber in 2015, according to Canadian government data, which indicated the country was the world’s fourth-largest forest product exporter.

In 2015, the U.S. imported a total of $325.4 billion in goods and services from Canada.

Khoon Goh, senior foreign-exchange strategist at ANZ, said there could be scope for more weakness in the loonie, particularly if it fell below C$1.36 against the dollar.

“It’s not just the lumber,” he said, noting the U.S. administration had also been rumbling about potential tariffs on dairy products. “Any further escalation of this situation between the U.S. and Canada could well see the Canadian dollar weaken further.”


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Penn State Female Student Parties Pretty Hard……………

April 24th, 2017

A Penn State student faces felony and misdemeanor charges after allegedly fighting with officers over the weekend while intoxicated.

According to the criminal complaint filed by Penn State police, at about 2 a.m. Sunday, an officer observed a female, identified as Kaitlyn J. Testen, 18, of Sayre, stumbling while being assisted by a male along the north side of Haller Hall on campus. The male was reportedly holding her up and preventing her from falling.

The officer approached Testen and the man near Beaver Hall, police said, where Testen attempted to walk away when the officer exited his vehicle. The officer requested they both stop and speak with him regarding their behavior.

Testen was unable to walk away and sat on the curb, police said. While attempting to identify the man, he reportedly fled the scene. Additional officers were requested for assistance in locating him.

While struggling with the man, police said, Testen reportedly attempted to leave the area and refused to identify herself. She was handcuffed and placed on the curb.

University Ambulance Service was requested to evaluate her, police said, as she allegedly had a strong odor of alcohol and slurred speech. She reportedly refused to cooperate with police or EMS and actively resisted being placed on a stretcher.

While on the stretcher, police said, she was told if she continued to kick, she would be placed in jail. Testen broke her feet free and reportedly kicked one officer in the face and a second officer in the arm and hand.

She was placed in a police vehicle where she continued to kick at officers and the vehicle windows, police said. While at the university police station, she allegedly removed her shorts and urinated on an interview room floor.

She was arraigned Sunday before District Judge Kelley Gillette-Walker, according to court documents, and charged with felony counts of aggravated assault, misdemeanor charges of resisting arrest and disorderly conduct and summary counts of public drunkenness, purchase of alcohol by a minor and criminal mischief. Straight bail was set at $50,000.

A preliminary hearing is slated for May 3.


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