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THURSDAY, NOVEMBER 10, 2011
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Markets anxious over Italy Investors want Berlusconi gone PM has promised to resign soon
Italian Prime Minister Silvio Berlusconi, left, with President Giorgio Napolitano.
Italy’s president moved swiftly yesterday to reassure anxious markets, promising that Silvio Berlusconi would soon be vacating the premier’s office and unexpectedly lavishing praise on economist
THE CANADIAN PRESS
A rare yellow pear-shaped diamond is expected to fetch between $11 million and $15 million at auction next week in Geneva, and the buyer will have the chance to name it, Sotheby’s said yesterday. The so-called Sun-Drop Diamond is described as fancy vivid yellow — the highest colour grading — by gemstone experts. It is the largest known diamond of its kind, at 110.3 carats. The jewel is being sold by Cora International, which discovered the diamond in South Africa only last year — meaning it has no history of previous wearers. THE ASSOCIATED PRESS
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Models walk the runway during the Versace for H&M fashion show in New York, Tuesday.
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there was no doubt that Berlusconi would leave soon, appearing to soothe investors. State TV on Wednesday night said the financial reform measures so eagerly sought by Italy’s eurozone partners might be approved by Saturday.
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Toronto, Oshawa lead housing price hikes The New Housing Price Index rose 0.2 per cent in September, led by price hikes in Toronto and Oshawa. Statistics Canada reports Winnipeg posted the largest monthly percentage increase, at 1.4 per cent, followed by Halifax (0.7). The agency attributes Winnipeg’s price increases primarily to higher material and labour costs as well as higher land values, while builders in Halifax cited higher material and labour costs.
Mario Monti, who might lead the debt-plagued country’s next government. The former European competition commissioner is widely considered to be a top contender to be the next Italian premier, now
that Berlusconi has pledged to resign as soon as urgently demanded economic reforms are approved by Parliament. Earlier in the day, financial markets had pounded Italy, as investors worried that Berlusconi might linger in office. Napolitano had responded by declaring
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People walk by a car on display at Toyota’s Tokyo headquarters.
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Versace comes to H&M Donatella Versace’s collection for global retailer H&M debuted Tuesday night in Manhattan, with a metallic disco dress, a studded leather bomber jacket and an animal-print-meets-tropical-sunset tank dress for women; and a hot-pink suit, studded tuxedo-style shorts and a palm-tree, second-skirt T-shirt for men. In Canada, the Versace for H&M collection launches Nov. 19.
Steering prompts Toyota recall Toyota Motor Corp. said yesterday it is recalling about 550,000 vehicles worldwide — mostly in the United States — for problems that could make it harder to steer. Toyota has received a total of 79 reports about the defect dating back to 2007, said Corbett. There have been no reports of accidents or injuries related to the problems, he said. Toyota’s reputation has taken a hit over the last
two years due to a string of huge recalls that have ballooned to 14 million vehicles over that time, including millions recalled last year for acceleration problems. The news comes a day after Toyota said its JulySeptember profit slid 18.5 per cent to 80.4 billion yen ($1 billion) on plunging sales caused by parts shortages from the tsunami disaster in northeastern Japan. THE ASSOCIATED PRESS
The problem The latest recall is due to the possibility that the outer ring of the engine's crankshaft pulley may become misaligned with the inner ring. If the problem isn’t corrected, the belt for the power steering pump may become detached , making it suddenly more difficult to turn the steering wheel.