Saturday, June 27, 2009

Hegnar Online - 17 Stories

This site has an almost daily report about the Canadian (in Toronto) and American (in New York) stock markets from two of the three countries in North America - Canada and the USA (Mexico is not included). But, it seems the Canadian market is often not reported on with the same equality of reporting as the American market. According to Wikipedia, the Canadian "Toronto Stock Exchange (TSX; abbreviated TSE until 2001) is the largest stock exchange in Canada, the third largest in North America and the seventh largest in the world by market capitalization. Based in Canada's largest city, Toronto, it is owned and operated by TSX Group for the trading of senior equities" The Hegnar report is basically a report about shares on the major markets in Canada and the USA, both in North America, but it often seems Canada and the Canadian markets are placed in USA. Here are some Hegnar examples:

1) For the longest time the title of the "international" report was called "De norske aksjene i USA," despite the fact that Canada, the Canadian city of Toronto, the Canadian TSX, and the shares on the Canadian TSX are not located in the USA. In fact, there was very little differentiation even made to really indicate the shares are Canadian, where in Canada's markets and being traded and valued in Canadian currency.

2) Often, when there is a USA national holiday, for some reason the Canadian markets are not reported, despite the fact the Canadian markets are in open. Why? Does Hegnar think Canada has the same holidays as the USA so the Canadian markets are not open? Or is it an attitude that since it's "little" Canada, and there are not as many companies on the TSX in Canada, as the NYSE in the USA, it's not worth doing a report? If Canadian markets and the Canadian TSX are worth reporting on when there is not a national USA holiday, then why are they not worth reporting on when there is a USA national holiday? It has taken some time, but Canada and the Canadian markets are now finally listed as a separate country (which it is) and currency amounts are now clearly defined in Canadian currency, and not in the USA's currency. This would be like the Canadian media adding Norway Oslo's exhange under Sweden or Germany's financial reports for their respective markets, and reporting Norway's NOK totals in Swedish Crowns or EUROs.

1) De norske aksjene i USA (By Marianne Løland ) 30 September 2009
http://www.hegnar.no/bors/article319537.ece
In USA? The TSX is not located in the USA! Is this story about shares in the just the USA or Canada, or both? The title says the USA, but in the story two countries are mentioned - Canada and the USA. To be correct this story should say: "De askjene i Canada og USA, or Nord-Amerika." Canada is not located in the USA as this title suggests; so why does Canada get placed under a USA heading? If this report is about the share prices and exchange activities of two seperate and independent countries in North America, as it seems to be, then would it not be correct to mention those two countries in the headline or the continent? Or should Canadian journalists write financial markets reports for Canadian companies on the Oslo and Stockholm exchange as "De canadiske aksjene i sveriges?"
2) Har bestilt rigger for milliarder - uten penger
(Øystein Byberg)
Here is a story about a business transaction that took place in Canada in Canadian dollars. The amount is $30 million in Canadian currency, but the journalist must have either guessed or assumed we use American money in Canada and converted the Canadian amount in his story with the wrong USD-NOK exchange rate, instead of the correct CAD-NOK exchange rate, making the amount inaccurate by 15 million Norwegian kroner. Why, when a business transaction that takes place in Canada is in Canadian currency, would a Norwegian journalist use the USD-NOK exchange rate to convert it? That would be like a Canadian journalist using the Swedish Crown or Euro exchange rate to convert Norwegian currency in a story he or she has written about for a Norwegian business transaction. After e-mailing the journalist the story was corrected to be accurate. How can even the basic information like the currency and exchange rate of Canada get mixed-up on a Norwegian business website? In any country, 15 million NOK is a lot of money. Why do so many Norwegian journalist think we use American money in Canada? We've never seen a Canadian story that writes Norway uses Swedish Crowns.
3) Aksjen har steget over 400 prosent på litt over ett år (Thomas Erling Oksum)
27 Sept. 2007
http://www.hegnar.no/hegnar/newsdet.asp?id=266239
In this story the Norwegian journalist writes the Canadian company Research in Motion is an American company. He writes: "Det er amerikanske Research In Motion (RIM) Inc. Lindgren har analysert i en rapport i dag." That is a mistake. To be correct it should say: "Det er kanadiske Research In Motion (RIM) Inc. Lindgren har analysert i en rapport i dag." The Canadian company that manufactures Blackberry - Research in Motion, is not an American company. It's Canadian technology, a Canadian company, started by Canadians, and based in the Canadian province of Ontario in central Canada. How does a Canadian company like RIM, so popular worldwide, exported to Norway, the USA, etc., from Canada get so much coverage in the Norwegian press about being American and from the USA, or its USA success, with little or no Canadian references at all? Why does it seem like so many in the Norwegian press think Blackberry is an American success story when it is a Canadian success story? When Norwegians read American or Amerika, is it Canada, Brasil, Colombia they think of first?
4) De norske i utlandet (Marianne Løland) 9 September 2007
In this report the Norwegian journalist writes: "De norske i utlandet Slik gikk det med de norske aksjene i USA og Canada i går kveld. Artikkel av: Marianne Løland (9.10.07 07:59)" In the report the journalist reports the numbers for October 8th, 2007 trading on Canada's Toronto Stock Exchange, but how is this possible when the stock market was closed on Monday for a Canadian national holiday? They can't be Friday's totals, as there was a report on October 8th showing Friday's numbers. The Canadian stock markets where closed for Thanksgiving on October 8th, so how is it possible that her report has closing numbers for Toronto, Canada? Thanksgiving is a national holiday all across Canada. In addition she lists the closing value of Canada's currency and the USA's currency. Because of the Canadian national holiday on Monday, the Canadian dollar did not trade, yet with the Canadian dollar closing higher (which closed Friday at $1.018 US) than the USA's dollar she lists the USA currency as higher than Canada's: 5.48 for the USA's currency in NOK, versus 5.45 for the Canadian dollar. How is that possible when the Canadian currency closed higher than the USA currency on Friday, and when the Canadian dollar did not trade on Monday because of the Canadian holiday? It seems Canadian hoilidays are often not recognised or forgotten and some how TSX numbers are listed on days when the Canadian markets are closed. How is this possible? Is it possible the Norwegian media do not know Canada's national holidays and just assume Canada follows the same holidays as in the USA? What is more interesting is when there are national holidays in the USA, but none in Canada (as Canada does not follow the American holidays simple because they are not holidays in Canada, for example, Canada does not celebrate July 4th, this means nothing to Canadians) then no report is given. Even thought the Canadian markets are open, it seems they are either not worth reporting, or the journalists think it must be a holiday in Canada as well.
5) De norske i utlandet (Marianne Løland) 3 July 2007
http://www.hegnar.no/
In this report the Norwegian journalist reports the Canadian Toronto Stock Exchange (TSX) market numbers from July 2nd. How is it possible when the Toronto Stock Exchange was closed on July 2nd in for a Canadian national holiday? July 1st is Canada's national day (same as Norway's 17th of May) so how can the journalist report closing numbers from yesterday when on July 2nd the markets were closed in Canada for recognition of July 1st - Canada Day / La fête du Canada holiday? That would be like reporting numbers for 17th of May when the market is closed in Norway. The Norwegian journalist's June 28th report has totals for the TSX on June 27th. The June 29th report has totals for the TSX on June 28th. The July 2nd report has totals for the TSX on June 30th, the July 3rd report has totals for the TSX on July 2nd (TSX was closed for Canada's national holiday July 1st, observed on July 2nd). The July 4th report has totals for the TSX on July 3rd. From my observations of Hegnar, they have had some difficulties in reporting about Canada in their reports. It has happened on several occasions that Canadians numbers are reported for days when the Canadian stock market is closed for national holidays. They obviously don't know the dates of Canadian holidays, and must just assume the Canadian markets are open because the USA markets are open. But what is also odd, is often when USA holidays take place there is no Canadian report at all, despite the fact the Canadian markets are open. It seems the Canadian markets are not worth reporting when the USA markets are closed, despite the fact they are open, but they are worth mentioning when the USA markets are open. Seems like a double standard, or is it becuase they assume the Canadian markets are closed when the USA markets are closed? If so, does that mean they assume we in Canada celebrate the same holidays as in the USA? In fact, there have even been stories from past years where the NOK-USD exchange rate was used to convert Canadian currency (CAD-NOK) stocks. That would be like a Canadian news report using Swedish Crowns to convert Norwegian Crown totals from Norway's stock exchange. How does it happen that reporting on Canada's stock market seems so difficult when it is a simple matter of identifying when Canadian markets are closed for Canadian holidays?
6) Grieg Seafood med ny bankfinansiering (Marianne Løland) 7 November 2007
In this story the Norwegian journalist writes about the Canadian province of "British Colombia." The province of British Columbia in Canada is spelt, "Columbia" not "Colombia". Colombia is a country in South America.
7) De norske utenlandsaksjene (By Øystein Byberg) 10 October 2006
http://www.hegnar.no/
In this report, the Norwegian journalist has stock market numbers for companies in Canada for Monday, October 9th, 2006. It was Canadian Thanksgiving in Canada on October 9th, and the markets were closed, so how is it possible to get numbers for the Toronto Stock Exchange in Canada, when the markets are closed for a Canadian national holiday? Again, the problem that happens here is that Norwegian journalists do not know the dates of Canadian holidays, but somehow Canadian stock market numbers seem to be reported on Canadian holidays. And when there are holidays in the country south of Canada - the USA, the Canadian numbers for the same same day in Canada are not reported despite the fact American holidays are not celebrated in Canada.
8) Ti fantastiske utdrikkingslag (By Stian Jacobsen) 17 June 2008
In this story the Norwegian journalist writes: "• Skitur, med mulighet for heliskiing, i Whistler/Blackcomb, British Colombia, USA" This is wong. First, Whistler/Blackcomb are located in the country Canada, not in the USA. Second, the Canadian province of "British Colombia" as he has spelt it is wrong. It is spelt "British Columbia", not Colombia. Colombia is a country located on the continent of South America. Third, the Forbes magazine from the USA, DOES NOT write in their publication that these are American destinations, and Forbes does not write these Canadian destinations are located in the USA. This is another example of how Norwegian journalists often either either guess or assume what is Canadian is actually from the USA. In this case, they have guessed the wrong country, even though Forbes does not say they are in the USA. This is like a Canadian writer writing Oslo, or Bergen is located in Germany or Sweden. Why are there so often mistakes about Canada happen on Hegnar? Are Hegnar journalists not required to verify facts before they are printed? Or do they prefer to guess? Are writers at Hegnar assuming the USA is the only country located in North America; and that Mexico and Canada don't exsist?
9) Da kan Questerre falle 50 prosent (By Sverre Rørvik Nilsen) 19 August 2008
In this story the Norwegian journalist writes: "Questerre Energy CompanyQuesterre utvikler en portefølje bestående av olje og gass-ressurser i Canada og selskapet har eiendeler i fire stater, Alberta, British Columbia, Saskatchewan og Quebec." These are not "states" as the Norwegian journalist writes, but provinces in Canada. The country of Canada does not have states, and has been using the French system of provinces since Canada became a Royal Province of France in 1663. The correct Norwegian word for Canadian stories - provins. Mexico and the USA are the only two countries in North American with states, Canada has provinces, and they differ in how they function both politically and legally. The story was corrected after contacting Hegnar.
10) Håper på positiv kontantstrøm (By Yasmin Hildrum) 19 August 2008
http://www.hegnar.no/bors/article306329.ece
There is nothing technically wrong with this story. It's just another Norwegian media example of how Canada is so often not mentioned. Unless the Norwegian reader knows that the Canadian province of British Columbia is in Canada, most will not know. This can be vague to many Norwegian readers. If a Canadian journalist wrote a story about Telemark in Norway, and just mentioned Telemark, would most Canadian readers know where that is located? Why not give Norwegians readers a clear picture and mention British Columbia, Canada. A reader-centred approach should be what most journalists should practise to best inform their readers.
11) Uventet suksess for Questerre (By Odd Steinar Parr) 19 December 2008
http://www.hegnar.no/bors/energi/article350315.ece
In this story the Norwegian journalist writes: "Beaver River-feltet i British Colombia". This is wrong. The Canadian province of British Columbia in Canada is spelt "British Columbia", not "British Columbia". The story has not been corrected.
12) De norske aksjene i USA (By Marianne Løland) 18 December 2008
http://www.hegnar.no/bors/article350054.ece
In this story from the markets in Canada it states "De norske aksjene i USA" and "Slik gikk det med de norske aksjene i USA i går kveld." What about Canada?? First, Canada and the TSX are not in the USA, and second, where is ther information or comment for the Canadian numbers? On 17 of December the TSX had a computer glitch that halted trading on Canada's main market for the day, so no trades were made, and the market was stopped. But, is that not seen by Hegnar as not even mentioning to Hegnar readers?
13) Telegigant går konkurs (By Stian Jacobsen) 14 January 2009
http://www.hegnar.no/bors/article353877.ece
In this story the journalist writes: "Amerikanske Nortel Networks ventes å søke konkursbeskyttelse i løpet av dagen." This is not correct. Nortel Networks is a Canadian company, not an American company. It's from Canada, not the USA. After e-mailng the writer the story was changed to say: "Nortel Networks ventes å søke konkursbeskyttelse i løpet av dagen." Seems it's okay to write that it's American, but not okay to correct it to say it's Canadian.
14) Questerre finner gass (By teoksum@hegnar.no) 1 October 2007
http://www.hegnar.no/bors/energi/article67048.ece?service=print
In this story the Norwegian journalist writes: "Kanadiske Questerre Energy Corporation melder om funn av gass ved alle de fem brønnene som er boret i Vulcan-området, sør i delstaten Alberta." This is not correct, Alberta is a province in Canada, not a state. Canada does not have states, and has been using provinces for 346 years, since 1663. Mexico and the USA are the only two countries in North America with states.
15) Slik gikk de norske aksjene i Canada (Marius B. Haugen) 6 July 2009
In this story about the TSX shares in the Canadian markets, the Norwegian journalist writes: "Aksjemarkedet i USA var stengt fredag. Her er oversikten over de norske aksjene i Canada. Her er oversikten over hvordan de norske aksjene i Canada sluttet fredag, sammenlignet med Oslo Børs." The story is about Canadian shares for the Friday in Canada, mentions how the markets are closed in the USA for the American holiday, but the flag is the wrong flag. The flag shown is the USA's flag, not Canada's flag. Why does this report about the Canadian markets open, and USA's markets closed (like for example, Sweden and Norway's markets) seem to dump Canada under the USA's flag? It's not Canada's flag, and doesn't represent the Canadian people. If the story is mostly about Canada and the Canadian market, should a Canadian flag not be listed?
16) Dette vil påvirke Oslo Børs tirsdag (Marius B. Haugen ) 7 July 2009
In this story the Norwegian journalist writes:
"USA, Asia og Europa [as the heading]
Det ble en flat dag på Wall Street. S&P og Dow Jones-indeksen steg rundt en halv prosent, mens Nasdaq falt tilsvarende tilbake. Olje (XOI) og oljeserviceindeksen (OSX) falt henholdsvis -1,45 og -1,33 prosent mandag. Av de norske aksjene i USA og Canada utmerket Frontline og Crew Gold seg på den positive siden." Canada in the USA?? Canada is mentioned in the story, and Canada is not located in the USA! To be correct is should say:
"Nord-Amerika, Asia og Europa
Det ble en flat dag på Wall Street. S&P og Dow Jones-indeksen steg rundt en halv prosent, mens Nasdaq falt tilsvarende tilbake. Olje (XOI) og oljeserviceindeksen (OSX) falt henholdsvis -1,45 og -1,33 prosent mandag. Av de norske aksjene i USA og Canada utmerket Frontline og Crew Gold seg på den positive siden."
17) Frontline steg markert i USA (Marius B. Haugen) 7 July 2009
"Slik gikk det med de norske aksjene i USA og Canada. Frontline og Crew Gold var blant aksjene som utmerket seg på den positive siden i USA og Canada, sammenlignet med Oslo Børs mandag. Her er oversikten."

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