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Saudi Arabia has strongly denounced US Senate resolutions which called for an end to American support for Saudi forces in Yemen and blamed Crown Prince Mohammed bin Salman for the murder of Jamal Khashoggi.   

The kingdom released an unusually forceful statement after both Democrat and Republican senators defied the White House and voted through the largely symbolic resolutions criticising Saudi Arabia.  

"The Kingdom categorically rejects any interference in its internal affairs, any and all accusations, in any manner, that disrespect its leadership… and any attempts to undermine its sovereignty or diminish its stature,” the Saudi foreign ministry said.

While Donald Trump has said he plans to stand by Saudi Arabia, the US-Saudi relationship is under increasing scrutiny from Congress and the American public after the death of Mr Khashoggi, a Washington Post columnist.  

The Senate resolutions have no legal weight but will add to pressure on Mr Trump over his administration’s close ties to the kingdom’s leaders. 

How the disappearance of Jamal Khashoggi unfolded

Saudi Arabia insists Crown Prince Mohammed was not aware of the plan to kill Mr Khashoggi, even though one of his closest aides and several members of his security entourage were allegedly involved. 

The kingdom argues that its bombing campaign in Yemen is in self-defence against Iranian-backed Houthi rebels who have fired ballistic missiles into Saudi territory. Human rights groups say indiscriminate Saudi bombing and a harsh blockade have killed thousands of civilians. 

A UN-brokered ceasefire deal is due to go into effect Tuesday in the key port city of Hodeidah after peace talks between the Houthis and the Yemeni government in Sweden last week. 

The agreement was looking shaky after intense fighting in Hodeidah over the weekend but UN officials said they were optimistic that the truce would go ahead. Residents reported sporadic fighting around the city on Monday. 

A sustained ceasefire could be a major step towards a larger peace deal to end the three-year war, which is believed to have killed tens of thousands of people and brought millions of Yemenis to the brink of starvation. 

Aid groups have warned that a full-on Saudi offensive in Hodeidah could destroy port facilities and stop badly-needed humanitarian supplies from reaching civilians.

Mr Khashoggi, a Saudi contributor to the Washington Post, was killed on October 2 shortly after entering the kingdom’s consulate in Istanbul in what Riyadh called a "rogue" operation.

The murder has tarnished Riyadh’s international reputation, and Western countries including the United States, France and Canada have placed sanctions on nearly 20 Saudi nationals.

UN chief Antonio Guterres on Sunday called for a "credible" probe into the murder.

Anger at the human cost of the war in Yemen has also prompted a harder line in Congress about the US military’s role in backing Saudi-led coalition strikes against Huthi rebels.

Since the coalition launched its campaign in 2015, the conflict has killed nearly 10,000 people, according to the World Health Organisation. But some rights groups believe the toll to be far higher.

The decision by Europe’s largest bank, HSBC, to halt funding for new projects in the oilsands has some wondering if other financial institutions, including U.S. banks and pension funds, will eventually follow suit and what the impact that might have on Canada’s energy sector.

HSBC last Friday became the latest European bank to announce that it would no longer finance new greenfield oilsands, coal power plant and arctic drilling projects. It follows BNP Paribas and ING, both of which made similar announcements in the past year.

The company says it will still finance existing operations it has a $6.1 billion wholesale loan portfolio in the energy sector and it says it will remain an engaged partner in the industry but it will stop funding “new mines or in situ productions that are geographically separate from existing ones,” and new oilsands-dedicated pipelines, says Sharon Wilks, a spokesperson for HSBC Bank Canada.

The reason for the change in policy, says Wilks and it’s why others have done the same is that it wants to help meet Paris Agreement targets, specifically the goal of keeping global warming under 2 degrees Celsius.

“We are committed to doing our part in supporting the transition to a low carbon economy,” said Sandra Stuart, HSBC Bank Canada president and CEO, in a statement. “Our role is to help the country, its families and its businesses to adapt and responsibly balance a healthy economy with a healthy environment.”

While HSBC, ING and BNP don’t have as much of a presence in Canada’s energy sector as the major Canadian banks do, this move does raise the question of whether others will follow.

Changing investor mindset

Lisa Kramer, a professor of finance at Toronto’s Rotman School of Management, does think that this is the start of something bigger.

“It’s the beginning of a trend,” she says. “Many others are trying to align their investment with the support of a low carbon economy and the idea of addressing climate change.”

Watch: Alberta’s laid-off oil workers may now be replaced by machines

It’s no coincidence that it’s the European banks leading the way, she adds. While having less invested in the sector than their Canadian counterparts makes it easier for them to take a stand, its shareholders, which are global, are collectively more progressive than Canadian banks’ shareholders, who may have closer ties to the oilsands.

However, she does think Canada’s banks will eventually follow suit, especially as more millennials rise through the ranks.

“Investor mindset is changing, with more millennials increasing the trend of sustainable investing,” she says.

Continued demand for oil

Still, it’s unlikely the Canadian banks will join in any time soon, says Martin Pelletier, managing director and portfolio manager with Calgary’s TriVest Wealth Counsel.

According to the Rainforest Action Network’s Banking on Climate Change report, Canada’s big five banks are heavily invested in the sector, accounting for about $30 billion in financing in 2017. RBC led the way with more than $11 billion, while HSBC was seventh with $1.4 billion in funding.

“The Canadian banks provide funding across all sectors in Canada, so to pull funding for oilsands? I just don’t see it,” he says. “They have a different shareholder base and a lot of huge institutions in Canada own the banks. But I don’t see it impacting HSBC either.”

There’s another reason why Canada’s banks won’t be quick to follow: the oilsands are going to need financing for years to come, in part because of increasing demand for oil from China.

According to Canada’s National Energy Board, raw bitumen production should climb from just under 2.6 million barrels per day in 2016 to 4.5 million barrels per day by 2040. Most of that growth, though, will come from existing operations, which HSBC will continue to finance. Greenfield projects will account for a sliver of that growth.

“People in China want to move their families forward, but when they do, when they go from walking to biking to driving, the cheapest, most available and easily transportable source of energy is fossil fuels by a large margin,” says Jim Davidson, deputy chairman with Calgary’s GMP First Energy.

While Davidson isn’t a fan of HSBC’s move, he says it’s possible that decisions like theirs will influence other institutions.

“There is a possibility,” he says, that U.S. banks, many of which do fund oilsands projects, could decide to change their policies, too, he says. “The world is worried about the environment.”

However, it will still be a long time before Canada’s energy sector finds itself at risk of losing financial backing.

“Regardless of whether the world moves forward to a renewable energy system, which I ultimately believe will transpire, it won’t be in our lifetimes,” Davidson says. “Demand for hydrocarbons is growing every year. It’s a viable business.”

Pressure on pension funds

If the sector should be concerned about anything it’s the pressure some of the country’s pension plans are under to divest from the oilsands.

For instance, Ontario Teachers’ Pension Plan has been admonished by many of its members for holding billions in oilsands assets. It holds shares in Exxon and Kinder Morgan and owns Cenovus, an oilsands extractor that it bought for $3.3 billion in 2015.

If pension plans to were abandon the oilsands, “that would be a big deal,” says Pelletier. “That’s a story that would get attention.”

In the shorter term, though, the energy industry has other things to worry about than financing, says Pelletier. The Trans Mountain saga may be scaring off foreign investors, while looser regulations in the U.S. are making Canada less attractive to potential financiers. That in itself may reduce the need for financing.

“Are companies going to expand their capital programs in this current environment?” asks Pelletier. “Probably not. So, there may not be a need for additional financing.”

In time, HSBC will likely be seen as being ahead of the curve, says Kramer. Canadians are more aligned with Europeans on climate change than they may be with Americans, at least with the current administration, and will push energy sector companies and financial institutions to become more environmentally friendly.

“I’m optimistic that Canadian companies will do their part to support the sorts of initiatives that we’ve entered into as a country,” she says.

An American adventurer has won a grueling race against a British Army officer to become the first person to trek unaided across Antarctica.

Colin O’Brady, 33, arrived on the coast of the Ross Sea on Wednesday after trekking nearly 1000 miles across the frozen continent, beating Capt Lou Rudd by hours. 

Crossing onto the Ross Ice Shelf at the point where Antarctica’s land mass ends, Mr O’Brady described feeling "delirious".  

"I accomplished my goal: to become the first person in history to traverse the continent of Antarctica coast to coast solo, unsupported and unaided," he wrote in an Instagram post after covering the final 77.5 miles in 32 hours.

"While the last 32 hours were some of the most challenging hours of my life, they have quite honestly been some of the best moments I have ever experienced," he wrote.

"I was locked in a deep flow state the entire time, equally focused on the end goal, while allowing my mind to recount the profound lessons of this journey. I’m delirious writing this as I haven’t slept yet."

Mr O’Brady and Capt Rudd, 49, both set off from Union Glacier on November 3, setting up a contest that recalled the 1911 race for the pole between Norway’s Roald Amundsen and Britain’s Captain Scott. 

Each man wore cross-country skis and pulled a sled, called a pulk, carrying 180 kilograms of provisions and equipment. 

The race to cross Antarctica solo – Finish

Mr O’Brady, who called his walk the "impossible first", took 54 days to complete the 921 mile crossing from coast to coast. He reached the South Pole on Dec 12.  

He documented his journey on his Instagram page, writing in detail about the physical and psychological privations of battling 30 mph headwinds that left him wanting to quit.

Capt Rudd, who was descending the Leverett glacier and about 40 miles from completing his journey on Thursday, congratulated Mr O’Brady in an update posted on his expedition’s website. 

"Fantastic, well done to him. He’d pushed really hard all the way across and done extremely well, so congratulations to him. For me, I’ve never felt like I’ve been in a race, I’ve never been in race mode, it’s always been about completing the journey, which I’m looking forward to doing in a couple of days’ time. That’ll be incredible," he wrote. 

"I’ve still got a couple more days in here, on the Glacier. I can comfortably finish in two days," he wrote.

Capt Rudd set up his expedition in honour of Lieutenant Colonel Henry Worsley, a fellow British Army officer who died while trying to complete an unassisted solo crossing of Antarctica in 2016.

Mr O’Brady’s wife, Jenna Besaw, said her husband planned to remain in Antarctica until Capt Rudd has completed his trek. 

"It’s a small club," she said. "His intention is to wait for Louis and have kind of a celebratory moment with the only other person on the planet to have accomplished this same thing."

Borge Ousland, a Norwegian polar explorer, completed the first solo crossing of Antarctica in 1997, but he was wind-aided by kites.

BEIJING — The United States and China hiked tariffs Friday on billions of dollars of each other’s goods, launching what Beijing called the “biggest trade war in economic history” in a spiraling dispute over technology.

The Trump administration is confronting Beijing over development tactics it says include stealing or pressuring foreign companies to hand over technology. American officials worry Chinese plans to create tech champions in fields including robotics, biotech and artificial intelligence will erode U.S. industrial leadership.

Washington imposed 25 per cent duties on $34 billion of imports from China in the first in a possible series of increases that President Donald Trump says could affect up to $550 billion of Chinese goods.

The Chinese Foreign Ministry said “retaliatory tariffs” took effect. The Communist Party newspaper People’s Daily said they were imposed on a $34 billion list of goods issued last month that included soybeans, pork and electric vehicles.

Washington has “ignited the biggest trade war in economic history,” said a Commerce Ministry statement.

Companies worry the spiraling dispute could chill global economic growth. Chinese exporters have reported U.S. orders fell off ahead of the tariff hike. But Asian financial markets took Friday’s developments in stride.

Chronic tension in relationship

Japan’s main stock index, the Nikkei 225, gained 1.1 per cent while the Shanghai Composite Index added 0.5 per cent. Hong Kong’s Hang Seng also rose 0.5 per cent.

The conflict between the world’s two biggest economies reflects chronic tension in their relationship as customers, business partners and increasingly as competitors. It also is rooted in the clash between American notions of free trade and Beijing’s state-led development model.

China’s ruling Communist Party has insisted on making changes at its own pace while sticking to state-directed technology development seen as the path to prosperity and global influence. Beijing has announced reforms this year including ending limits on foreign ownership in its auto industry, but none directly addresses complaints that are fueling its conflict with Washington.

On Thursday, Trump said higher tariffs on an additional $16 billion in Chinese goods were set to take effect in two weeks.

After that, the hostilities could intensify: Trump said Washington is ready to target an additional $200 billion in Chinese imports — and then $300 billion more — if Beijing does not yield.

That would bring the total of targeted Chinese goods to $550 billion — more than the $506 billion in goods that China shipped to the United States last year.

Washington alienated potential allies with other tariffs

Chinese officials reject accusations they steal or force foreign companies to hand over technology. But rules on auto manufacturing and other industries do require companies to work through state-owned partners, obliging them to share know-how with potential competitors.

Other governments express similar complaints toward Beijing, but Washington has alienated potential allies by raising import duties on steel, aluminum and autos from Europe, Canada, Mexico and Japan. Some have responded by hiking their own tariffs on U.S. goods.

Trump’s confrontational outlook applies to other trading partners as well as China, said Tai Hui, chief strategist for JP Morgan Asset Management, in a report.

“This is a potential concern for the outlook of corporate investment and consumption around world,” Hui said.

The official China Daily newspaper accused the Trump administration of “behaving like a gang of hoodlums.” It said they would damage the global economy unless other countries stop them.

“There should be no doubting Beijing’s resolve,” the newspaper said.

Forecasters say global economic growth could be reduced by up to 0.5 percentage points in 2019-20 if both sides wind up raising tariffs on $250 billion of imports.

The American Chamber of Commerce in China appealed to both sides to negotiate.

“There are no winners in a trade war,” the chamber’s chairman, William Zarit, said in a statement. Companies want fairer treatment but will be hurt by U.S.-Chinese tensions, Zarit said. “We urge the two governments to come back to the negotiation table.”

Also On HuffPost:

Post-Soviet Russia’s most notorious serial killer known as the "Angarsk Maniac" was given a second life sentence by a Siberian court on Monday after he was found guilty of killing 56 more victims over a period of 15 years.

Mikhail Popkov worked as a police officer in the Siberian city of Angarsk and was sentenced to life in prison last year when he was found guilty of murdering 22 women. 

After sentencing, he admitted to the murders of an additional 59 women.

Popkov called himself a “cleaner,”  the Interfax news agency reported, and claimed that he only targeted “women who lead loose lifestyles.”

Lead investigator Yevgeny Karchevsky said that Popkov’s motive was misogyny. According to the RIA Novosti news agency, Popkov began killing after finding his wife cheated on him.

Local police began searching for a serial killer as early as 1992, but it wasn’t until the late 1990s that patterns began to emerge in a string of violent, sexual murders in the region around Angarsk.

A common theme was track marks from a Lada Niva, a car used by police nationwide.

From the early 90s to 2010, Popkov would don a police uniform and drive his police car on nighttime hunts for women at bus stops and other public places, using his cover to offer them a ride home.

He would instead drive them to the woods, rape them, and then murder them.

“He willingly described all of this,” Mr Karchevsky told RIA Novosti, “with pathos and even with gusto.” 

The investigator added that, setting aside his crimes, Popkov was a sane, well-educated man. 

“These were skills of psychological manipulation,” he said.

Mr Karchevsky said that the investigation into Popkov was the first of its kind in Russia, requiring years of work, DNA testing, and witness testimonies spanning the globe.

As part of Monday’s second life sentence, Popkov was stripped of his retired police title.

Popkov’s lawyer says he intends to appeal that part of the verdict, given his cooperation in the investigation.

The ruling deprives him of a 24,000 ruble (£285) monthly police pension.

Call of Duty: Black Ops 4 introduces a new system to the shooter series called Signature Weapons.

These are cosmetic variations of the base weapons in the game, Activision said in a blog post, and they come with their own challenges and rewards.

The publisher stressed the Signature Weapons do not have any game-altering stats, so perform exactly like their base weapon counterparts. They’re just super flashy versions of those base weapons.

Challenges must be completed to unlock cosmetic rewards for the Signature Weapons, with the final being a Mastercraft version of the Signature Weapon. Activision did not say what these challenges will be, but suggested to get a Mastercraft Signature Weapon, you’ll need to invest a significant amount of time into the game.

Activision also didn’t say how you’ll get Signature Weapons in the game (I suspect supply drops will be involved at least in part). But, as you’d expect, some Signature Weapons are tied to the special editions of Black Ops 4. If you buy the Digital Deluxe, Digital Deluxe Enhanced, Pro Edition or Mystery Box Edition for example, you get the MX-9 Signature Weapon on day one. Here’s how it looks:

GameStop in the US has another day one Signature Weapon as a pre-order bonus: the Strife pistol called Divinity. If you complete the challenges associated with the Divinity and unlock all of its rewards, you can use the golden Divine Justice. Here’s how both weapons look:

The Signature Weapons sound like a yet another virtual item to shoot for in Call of Duty, but since I’m a sucker for flashy video game weapons I’ll probably pump hours into the grind for them – however it works!

Click:13l x

North Korea may have been exploiting collaboration with foreign scientists to bypass tough international sanctions and further its nuclear weapons programme, according to a new investigation. 

An analysis released by the James Martin Centre for Nonproliferation Studies in Monterey, California, flags at least 100 journals published jointly by North Korean and foreign scientists that have “identifiable significance for dual-use technology, weapons of mass destruction (WMD), or other military purposes.” 

The findings, based on scientific journals spanning more than six decades, shed some light on how North Korea could have advanced so rapidly in building its nuclear and missiles technology despite long-running and harsh international penalties to prevent it from doing so. 

The large majority of the 1,304 research papers dating from 1956 to April 2018 involve natural sciences, engineering or mathematics, but among the identified “areas of concern or potential concern” are Romanian assistance with uranium purification and GPS-related work with Germany and China. 

Most of the research that warrants a closer look involves collaboration with Chinese scientists. 

In an interview with The Telegraph, Joshua Pollack, one of the lead authors on the report, highlighted work on the “isolation of high voltage cables” and on automotive technology as apparently “clear-cut” examples of potential breaches of the ban on the transfer of dual-use equipment. 

Dual-use in this sense would be any legitimate technology that could also be appropriated to assist the creation of WMD or nuclear reactors.

Joint Chinese and North Korean papers on automotive technology had set off alarm bells as they included a computer system that could make the axels on a truck operate independently, said Mr Pollack. 

“That is something that is not associated with an ordinary truck. There are civilian applications for that but in North Korea the obvious use for that is a missile launching vehicle,” he revealed. 

Such an extensive analysis of the risks of scientific collaboration with North Korea is rare, but it is not the first time the issue has been raised. 

Last year, Ken Kato, director of the Tokyo-based Human Rights in Asia, wrote to the ambassadors of the five permanent members of the United Nations Security Council, urging them to close a legal loophole that allegedly allowed pro-North Korean scientists to remain in sensitive research positions. 

“There are six Korean scientists who have been able to remain in sensitive research positions after claiming to have switched their political allegiances to South Korea,” Mr Kato claimed on Thursday. He has not yet received a UN response to his earlier enquiry. 

Mr Pollack and his team conclude that “UN member states must decide what research activities by their nationals or within their territory lie within the scope of sanctions, and which activities are better avoided in order to uphold the integrity of the sanctions regime." 

He added: “We do not want to hand Kim Jong-un a shortcut to advancing his military, advancing his weapons of mass destruction.”

But the complicated nature of scientific research also creates a dilemma about where to draw the line. 

Mr Pollack stressed that concerns over the misuse of some research should not lead to a “blanket ban” on scientific collaboration with the secretive regime, which prizes scientists so highly that it awards them with the best housing in the capital, Pyongyang. 

“You would have to have very strong reasons to shut the North Koreans out, bearing in mind that science contributes to human welfare and progress. It’s not all about weapons,” he said. 

Many Western researchers are heavily vetted by their governments before they can proceed.  

British cooperation with Pyongyang over the years has included “frontiers on mathematics”, engineering principles and, more recently, studies of Mount Paektu, a volcano on North Korea’s border with China. 

James Hammond, a geophysicist at the Birkbeck University of London, who has been working on the project alongside American, Chinese and North Korean colleagues, told NPR that it took almost two years to get US and UK government approval to carry in sensitive seismic equipment. 

Research on the volcano could prove vital to saving many lives if there was a future eruption, Mr Pollack pointed out. 

“I think it may be the case that we don’t do enough when there are humanitarian issues. In particular, epidemiology comes to mind. In both China and North Korea there is a lot of drug-resistant tuberculosis, for example… And disease doesn’t care that much about borders,” he said.  

Finally, he argued, scientific collaboration made sense from a strategic point of view. Towards the end of the Cold War, cooperation between Soviet and American scientific establishments helped to build bridges between the two enemies. 

“Having these bridges between scientists is not a bad thing from a perspective of enlightened self-interest,” he said.   

OTTAWA — The economy lost 7,500 jobs in May as a drop in full-time employment was only partially offset by an increase in part-time jobs, Statistics Canada said Friday.

The agency reported the dip as the unemployment rate held steady at 5.8 per cent for the fourth consecutive month.

Economists had expected an increase of 17,500 jobs, according to Thomson Reuters Eikon.

“The May employment report was a bit of stinker, but stepping back shows a labour market that is pretty tight, with some upward wage pressure,” Bank of Montreal senior economist Robert Kavcic wrote in a brief note.

Watch: These are the 10 best jobs in Canada in 2018. Story continues below.

Average hourly wages, a key indicator watched by the Bank of Canada, increased 3.9 per cent compared with a year ago, the monthly reading’s largest annual increase since April 2009.

“Add in some other strong indicators this week, and the Bank of Canada should be on track to raise rates next month barring more fallout on the trade front,” Kavcic wrote.

The overall drop in the number of jobs came as full-time jobs fell by 31,000, offset in part by a gain of 23,600 part-time positions.

The loss of jobs came as the health care and social assistance sector lost 24,000 jobs, while the manufacturing sector lost 18,000. Employment in construction fell by 13,000.

Sectors gaining jobs included the accommodation and food services sector which added 18,000 jobs, helped by growth in British Columbia. The professional, scientific and technical services sector added 17,000 an transportation and warehousing added 12,000.

Regionally, Prince Edward Island added 800 jobs for the month, while employment in B.C. fell by 12,000 for the month.

In Quebec, a drop in full-time work was offset by a gain in part-time to leave the province little changed for the month. Statistics Canada says there was virtually no change in the number of people working in Ontario.

On a year-over-year basis, overall employment was up by 238,000 jobs or 1.3 per cent, due to gains in full-time work.

Also On HuffPost:

The family of British backpacker Grace Millane have said they hope that what happened to her "will not deter even one  person from venturing out into the world" after the disappearance of the 22-year-old.

The body of Ms Millane was formally identified on Wednesday after she went missing from a hostel in Auckland, New Zealand, on December 1.

Officers said Ms Millane’s family were "in the process of organising to take her home" as their investigation into the circumstances of her death continue.

Her family said: "Grace went off to travel the world in mid-October and arrived in New Zealand on the 20th November.

"By the amount of pictures and messages we received, she clearly loved this country, its people and the lifestyle.

"We all hope that what has happened to Grace will not deter even one person from venturing out into the world and discovering their own OE (overseas experience)."

Calling the crime "heinous", the family also paid tribute to investigating officers for completing a "concise, stringent and thorough investigation".

They added: "We would like to thank the people of New Zealand for their outpouring of love, numerous messages, tributes and compassion.

"Grace was not born here and only managed to stay a few weeks, but you have taken her to your hearts and in some small way she will forever be a Kiwi."

Jesse Kempson, 26, has been charged with murder and appeared in an Auckland court on Monday.

Ms Millane, from Essex, was last seen at about 9.40pm on December 1 in the company of a man at the CityLife hotel in Auckland, not far from the hostel she was staying at, which is located on the road Mr Kempson lived on.

Detective Inspector Scott Beard said: "Work continues to piece together exactly what happened to Grace, as we build a timeline of the circumstances."

Officers said they have received "hundreds" of calls about the case and investigators are trying to establish a timeline of events.

Police initially launched a missing person inquiry for the University of Lincoln graduate after her parents became concerned that she did not reply to birthday wishes sent on December 2.

Since arriving in New Zealand from Peru on November 20, she had been in near-daily contact with her family, officers said.

A week after she was last seen alive, police said they were treating the case as a homicide investigation and a day later a body was found in the Waitakere Ranges 10 metres away from the road

On Monday, New Zealand’s prime minister Jacinda Ardern gave an emotional apology to Ms Millane’s family, saying: "Your daughter should have been safe here, and she wasn’t, and I’m sorry for that."

"I cannot imagine the grief of her family and what they would be experiencing and feeling right now."

Candlelit vigils were held throughout New Zealand to honour Grace Millane on Wednesday night, and several more were planned for Saturday with peace walks in Auckland and Christchurch.

The vigil held outside Auckland’s SkyCity Casino – one of the places Grace was last seen alive – was a tribute all 15 women killed on New Zealand soil during 2018.

On a warm summer night, amidst the fake snow and bauble-strewn pines of Christmas, hundreds of people gathered beside the casino. Many clasped candles, some were in tears.

Broadcaster Ali Mau organised the event and said Millane’s death had "become a flashpoint for anger and grief over New Zealand’s appalling record on violence against women".

"Sadly, Grace is not alone. Just today, police have given details of another Auckland woman murdered in the past 24 hours."

Abby Munckhof, 23, said she that while she was aware violence towards women was a problem the world over, following Millane’s story had “brought it home” for her.

“I can identify with Grace. I’m also a young women, I also go travelling overseas, head off with strangers … you think you’re going to be safe and she deserved to be safe.”

Digital currencies such as Bitcoin are the new kids on the block, and are becoming a popular way to sell goods, or to have as an investment. So, how do they affect your taxes?

Unlike our normal currency, Bitcoins are not controlled by a central bank, or even by any specific country. They can be bought and sold in return for traditional currency, and can be transferred between individuals. As a result, the Canada Revenue Agency (CRA) doesn’t consider them to be a foreign currency. Instead, Bitcoins and other digital currencies are viewed as a commodity, where any gains or losses could be taxable income or capital for the taxpayer.

The CRA expects you to report these transactions as you would any other business or investment transaction, and report it on your tax return. While banks do not have record of it, the CRA is well aware of digital currency, and is actively pursuing cases where they believe there is non-compliance with reporting income.

Essentially, a person who sells something in exchange for Bitcoin is seen to have sold it for its fair market value at the time of the exchange.

Here are a few things to keep in mind if you own or exchange digital currency:

  • To calculate the dollar value of a Bitcoin transaction, you must use the exchange rate for Bitcoin and the Canadian dollar on the day of the transaction
  • If you use Bitcoin or other digital currency systems in the operation of your business or self-employment activities, you’re still responsible for claiming these purchases and payments as usual on your tax return
  • Any business accepting digital currency is considered engaging in a barter transaction. If the trade was a business transaction, this would be viewed as income to the business. If you trade for an item, the value of that item would be considered income. For example, if I accept digital currency for the sale of a book, then the value of the book would be the amount of income I would have to report
  • If you buy, hold and sell digital currency outside of a business, and make a profit in the process, you must report that profit as a capital gains. The portion of the CRA’s tax code regarding securities exchanges applies to these transactions. For example, if you purchased 100 Bitcoins for $25,000, but sold them six months later for $32,000, you would have to declare a capital gain of $7,000. The exemption of $200 per year on capital gains from foreign currency transactions does not apply to Bitcoins
  • Unlike foreign currencies, digital currencies cannot be held in an RRSP or other registered plan, since they are not qualified investments
  • If you are holding Bitcoins with a Canadian dealer, they won’t be subject to the foreign property reporting rules. However, if you hold your coins with an American or other foreign dealer, and they aren’t being held or used in carrying on a business, you’ll need to complete the Form T1135 Foreign Income Verification Statement if the value of the Bitcoins is more than $100,000