PRESS DIGEST- Canada- Feb 22
Feb 22 The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
WASHINGTON Jan 27 The United States has set preliminary anti-dumping duties ranging from 90 to nearly 175 percent on about $30 million worth of electric blankets from China, the U.S. Commerce Department said on Wednesday.
The ruling is a victory for Jarden Consumer Solutions, a Florida-based subsidiary of consumer products company Jarden Corp JAH.N. It filed a petition earlier this year asking for protection against its Chinese competitors.
The relatively small case is of one several ongoing U.S. investigations into charges that Chinese companies are selling their goods in the United States at unfairly low prices and benefit from unfair government subsidies.
The products covered by the probe include finished, semi-finished, and unassembled woven electric blankets of all sizes and fabric types, whether made of man-made fiber, natural fiber or a blend of both.
Commerce set a preliminary anti-dumping duty of 90.32 percent on blankets supplied by Hung Kuo Electronics (Shenzhen) Company Ltd, Ningbo V.K. Industry & Trading Co Ltd, Ningbo Jifa Electrical Appliances Co Ltd and Ningbo Jinchun Electric Appliances Co Ltd.
All other Chinese producers and exporters will face a China-wide rate of 174.85 percent.
U.S. customs officials will begin collecting bonds or cash deposits based on the preliminary rates.
The United States imported $29.7 million of the blankets from China in 2008, a 16.8 percent increase from 2006.
Commerce will make its final decision on duty levels in June, setting the stage for the U.S. International Trade Commission to cast a final vote in July or early August on whether to allow the duties.
(Reporting by Doug Palmer; Editing by Vicki Allen)
ZURICH, Feb 22 Swiss engineering group ABB revealed the discovery of what it called a "sophisticated criminal scheme" in its South Korean subsidiary on Wednesday, which it expects will result in a $100 million pre-tax charge.
LONDON, Feb 22 Wall Street's record run helped emerging stocks sail to new 19-month highs on Wednesday with year-to-date gains of over 10 percent, while the rand firmed ahead of a key budget speech by the finance minister.