Loonie advances ahead of employment data traders look to dismal eurozone growth

Loonie advances ahead of employment data, traders look to dismal eurozone growth AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO – The Canadian dollar closed higher Thursday as markets awaited the arrival of revised jobs data for July.The loonie was up 0.12 of a cent to 91.72 cents US, a day before Statistics Canada releases the data. The agency said earlier this week that there was an error in the jobs data originally released last Friday.Economists expect the new data will show about 20,000 jobs were created last month. Last Friday, Statistics Canada reported that only 200 jobs were created in July.The agency will also release the June reading on manufacturing shipments on Friday.Meanwhile, there was grim news from the eurozone as Germany’s economy, the region’s biggest, shrank by a quarterly rate of 0.2 per cent, held back by weaker investment by business and by fears over the crisis in Ukraine.France, the region’s second-largest economy, showed zero growth for the second straight quarter. Third-ranked Italy shrank.Ukraine fears have only grown since the end of the quarter on June 30, particularly after a Malaysian airliner was shot down in mid-July by a missile from territory held by pro-Russian separatists, according to the U.S. and Ukraine.Meanwhile, a large Russian aid convoy resumed its journey toward Ukraine on Thursday, taking a road leading directly toward a border crossing controlled by pro-Russian rebels.Moscow has insisted it co-ordinated the dispatch of the goods with the International Red Cross, but the Red Cross was unable to confirm where the convoy was headed.On Wednesday, Ukrainian President Petro Poroshenko accused Moscow of possibly planning a “direct invasion of Ukrainian territory under the guise of delivering humanitarian aid.”On the commodity markets, September crude in New York tumbled $2.01 to US$95.58 a barrel, reflecting Wednesday’s data showing a surprise hike in U.S. inventories last week and the weak European growth data.September copper was two cents lower at US$3.09 a pound, while December gold was $1.20 higher at US$1,315.70 an ounce. by Malcolm Morrison, The Canadian Press Posted Aug 14, 2014 6:46 am MDT read more

NHS negligence bill set to more than double as waiting lists lengthen

first_imgSpiralling NHS negligence bills are set to double in less than five years, and could get even worse amid lengthening hospital waiting times, watchdogs have warned.The National Audit Office (NAO) said soaring numbers of claims, especially the most costly ones caused by maternity blunders, are fuelling record compensation spending.Its report shows the number of claims has doubled in a decade, and has now reached more than 10,000 cases a year. Over the same period, legal costs have soared, amid the rise in “no-win no-fee” agreements.The figures show that claimants legal costs have risen by 533 per cent, outstripping a 316 per cent rise in damages.The watchdog also criticised the length of time spent disputing cases, adding to costs. It now takes 426 days for the average claim to be settled, the report says – a rise from 300 days six years ago, with every extra day adding £40 to costs.It also highlighted a sharp rise in spending on maternity blunders which left babies brain-damaged – with a 350 per cent rise in damages over the last decade.The NAO said lengthening NHS waiting times could increase the risks of future claims, from patients whose diagnosis or treatment is delayed.  Waiting lists are now the highest they have been for a decade, with a 76 per cent rise in the numbers waiting more than 18 weeks for treatment over the last two years. Jeremy Hunt  Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. Meg Hillier said: “The costs of clinical negligence claims are spiralling at a time of immense financial pressures on our National Health Service, taking scarce resources away from frontline services and patients.” “The Department of Health and Ministry of Justice have been too slow to work together to turn the tide, with actions to save £90 million a year by 2020-21 a drop in the ocean in the face of forecast costs of £3.2 billion a year by 2021. We need Government to take a good hard look at the financial and personal costs of clinical negligence.”center_img The Government has drawn up plans which attempt to limit NHS legal costs, including fixed legal costs for cases worth £25,000. But the NAO said the proposals would only save £90m, which the chairman of the Committee of Public Accounts, described as a “drop in the ocean” compared with the £3.2bn annual bill forecast for 2021. Jeremy Hunt has set out plans which aim to dramatically reduce the number of tragedies where babies die or are harmed for life Credit:Eddie Mulhollandlast_img read more