Canadian dollar lower greenback rises in wake of strong consumer housing data

TORONTO – The Canadian dollar closed lower Tuesday as the American greenback gained strength in the wake of strong U.S. consumer and housing data.The loonie off 0.54 a cent to 96.2 cents US after the U.S. Conference Board’s consumer confidence index for May blew past expectations, coming in at a five-year high of 76.2, against the 72.3 reading that economists expected. The April reading was 68.1.The data was scrutinized for how it might influence the Fed, which is undertaking its third round of aggressive bond-buying to help the economy.Speculation that the U.S. central bank might scale back the program based on a recent improvement in some economic indicators has sparked jitters in stock markets and pushed the greenback higher.Traders also took in further good news from the American housing sector.The S&P/Case-Shiller home price index for March rose by 1.12 per cent, higher than the 0.9 per cent pace that had been expected. The gain translates to a 10.87 per cent year over year gain — the first double-digit increase in over six years.Markets also looked ahead to the Bank of Canada’s next interest rate announcement on Wednesday.The central bank is widely expected to keep its key rate unchanged for some time to come. Traders will look to the bank’s statement for indications on how the economy is expected to perform.On Friday, markets will get Statistics Canada’s reading on how the economy performed during the first quarter. The agency is expected to announce that gross domestic product rose by 0.1 per cent during March, adding up to an annualized rise of 2.2 per cent for the quarter.Oil and copper prices advanced after being buffeted last week after a survey by HSBC Corp. showed a decline in China’s manufacturing for May. An official report on factory production in the world’s second-largest economy will be released later in the week. The July crude contract on the New York Mercantile Exchange was up 86 cents to US$95.01 a barrel.July copper was two cents higher to US$3.31 a pound. Bullion prices slipped with the June contract in New York down $7.70 to US$1,378.90 an ounce. Canadian dollar lower, greenback rises in wake of strong consumer, housing data AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Malcolm Morrison, The Canadian Press Posted May 28, 2013 8:40 am MDT read more

Vitol boss pledges to boost Britains proton beam offering after cancer treatment

The parents of Ashya King (centre) were jailed after taking their five-year-old son abroad in an attempt to secure proton beam treatment for him Mr Taylor said he was hopeful of a major breakthrough to defeat cancer treatment in the next 15 years In an interview with the Financial Times, he said: “I had to go to Switzerland for proton beam therapy.”“It’s not available in this country. Anyway, there’s now going to be some in this country. Hopefully I’m going just to dedicate a bit of money to making sure.”The philanthropist said he was feeling better since treatment and was “not ready to kick the bucket yet.”  And he said he was hopeful of major breakthroughs in cancer treatment in coming years.“I think we’ll probably beat cancer in the next 10 or 15 years,” he said. The parents of Ashya King (centre) were jailed after taking their five-year-old son abroad in an attempt to secure proton beam treatment for himCredit:JORGE GUERRERO/AFP Mr Taylor said he was hopeful of a major breakthrough to defeat cancer treatment in the next 15 yearsCredit:Jason Alden/ Bloomberg Mr Taylor, who stepped down as chief executive of oil trader Vitol in March, but remains its chairman, said his own experiences had spurred him to invest in ensuring access to proton beam therapy in the UK. One of Britain’s wealthiest businessmen has pledged to boost Britain’s proton beam offering after he was forced to travel to Switzerland for cancer treatment.Ian Taylor, the head of the world’s largest energy trader, and chairman of the board of trustees at the Royal Opera House, said he had hoped to invest in services in this country after his own experiences with throat cancer.The businessman, 62, is recovering from proton beam therapy to treat throat cancer, after two bouts of “massive” surgery.He said he was forced to travel to Switzerland, because there is nowhere in this country offering the pioneering therapy, which can offer more targeted treatment  without damaging surrounding tissues.Currently the NHS funds patients to go abroad for proton therapy, if doctors decide that it is required. Later this year the Christie Hospital in Manchester is due to open the first centre offering such treatment, with a centre in London due to open in 2020.In 2014, the parents of Ashya King were jailed after taking their five-year-old son abroad in an attempt to secure proton beam treatment for him.They successfully obtained treatment at a hospital in Prague – after the NHS said that it would offer him no benefit over standard treatment. 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. read more