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Stocks in play: RioCan Real Estate Investment Trust – Yahoo Canada Finance

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The Canadian Press

A first: US Senate confirms transgender doctor for key post

Voting mostly along party lines, the U.S. Senate on Wednesday confirmed former Pennsylvania Health Secretary Rachel Levine to be the nation’s assistant secretary of health. She is the first openly transgender federal official to win Senate confirmation. The final vote was 52-48. Republican Sens. Lisa Murkowski of Alaska and Susan Collins of Maine joined all Democrats in supporting Levine. Levine had been serving as Pennsylvania’s top health official since 2017, and emerged as the public face of the state’s response to the coronavirus pandemic. She is expected to oversee Health and Human Services offices and programs across the U.S. President Joe Biden cited Levine’s experience when he nominated her in January. Levine “will bring the steady leadership and essential expertise we need to get people through this pandemic — no matter their zip code, race, religion, sexual orientation, gender identity or disability,” Biden said. Transgender-rights activists have hailed Levine’s appointment as a historic breakthrough. Few trans people have ever held high-level offices at the federal or state level. Transgender-rights activists have hailed Levine’s appointment as a historic breakthrough. Few trans people have ever held high-level offices at the federal or state level. However, the confirmation vote came at a challenging moment for the transgender-rights movement as legislatures across the U.S. — primarily those under Republican control — are considering an unprecedented wave of bills targeting trans young people. One type of bill, introduced in at least 25 states, seeks to ban trans girls and young women from participating in female scholastic sports. One such measure already has been signed into law by Mississippi Gov. Tate Reeves, and similar measures have been sent to the governors in Tennessee, Arkansas and South Dakota. Another variety of bill, introduced in at least 17 states, seeks to outlaw or restrict certain types of medical care for transgender youths. None of these measures has yet won final approval. Issues related to transgender rights also are a major factor in Republican opposition to the proposed Equality Act, which would extend federal civil rights protections to LGBTQ people across the U.S. The measure has passed the Democratic-led House but likely needs some GOP votes to prevail in the Senate. Former Houston Mayor Annise Parker, president of the LGBTQ Victory Institute, alluded to those developments as she welcomed the Senate’s vote on Levine. “At a time when hateful politicians are weaponizing trans lives for their own perceived political gain, Dr. Levine’s confirmation lends focus to the contributions trans people make to our nation,” said Parker, whose organization recruits and supports LGBTQ political candidates. Sen. Rand Paul, R-Ky., who voted no, had confronted Levine about medical treatments for transgender young people — include hormone treatment and puberty blockers — during her confirmation hearing Feb. 25. “Do you believe that minors are capable of making such a life-changing decision as changing one’s sex?” Paul asked. Levine replied that transgender medicine “is a very complex and nuanced field with robust research and standards of care” and said she would welcome discussing the issues with him. In the past, Levine has asserted that hormone therapy and puberty-blocking drugs can be valuable medical tools in sparing some transgender youth from mental distress and possible suicide risk. The confirmation vote was assailed by the conservative Family Research Council, which contended that Levine, in addition to her stance on transgender medical care, had supported “a variety of pro-abortion and anti-religious freedom proposals” while serving as Pennsylvania’s health secretary. “Levine may be the most extreme radical ever confirmed by the Senate,” said Travis Weber, the council’s vice-president for policy and government affairs. A pediatrician and former Pennsylvania physician general, Levine was appointed as Pennsylvania’s health secretary by Democratic Gov. Tom Wolf in 2017. She won confirmation by the Republican-majority Pennsylvania Senate. However, Sen. Pat Toomey, a Pennsylvania Republican, voted against Levine’s confirmation Wednesday. “In Pennsylvania, the pandemic struck seniors in nursing homes disproportionately hard compared to other states,” Toomey said. “This was due in part to poor decisions and oversight by Dr. Levine and the Wolf administration.” He also said an extended lockdown advocated by Levine “was excessive, arbitrary in nature, and has led to a slower recovery.” A graduate of Harvard and of Tulane Medical School, Levine is president of the Association of State and Territorial Health Officials. She’s written in the past on the opioid crisis, medical marijuana, adolescent medicine, eating disorders and LGBTQ medicine. Praise for her accomplishments and her handling of the pandemic have coincided with a steady stream of vitriol directed at at her on social media. As reported Tuesday by the Associated Press, Levine was among the targets of a private Facebook group called the Pittsburgh Area Police Breakroom whose participants included many current and retired police officers. Dozens of group members fueled days of transphobic posts about Levine for her role in statewide social-distancing mandates to stop the spread of COVID-19. “Someone needs to shoot this thing!!” one retired officer wrote. In January, a Pennsylvania legislator shared on Facebook an image mocking Levine’s appearance, then offered a general apology. State Rep. Jeff Pyle, a Republican, said on Facebook that he “had no idea” the post mocking Levine “would be … received as poorly as it was” but that “tens of thousands of heated emails assured me it was.” David Crary, The Associated Press

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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