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A historical curiosity: A little piece of New Brunswick is in Nova Scotia – CBC.ca

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New Brunswick has had its share of boundary disputes over the years, almost going to war with the state of Maine in 1839 then squabbling with Quebec over Lake Temiscouata a few years later.

But along the Missaguash River between Aulac, N.B., and Amherst, N.S., there’s nary a whisper of contention over a five-hectare historical curiosity.

No farmers fluster. No politicians bluster. No militias muster.

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The Missaguash is a narrow, murky channel regulated by dikes and aboiteaux that keep the Bay of Fundy from flooding the soil here with salt water.

It’s also the boundary between New Brunswick and Nova Scotia — except at one lot, PID No. 70395462.

Local farmer John Atkinson pointing at the little piece of New Brunswick beyond the Nova Scotia border. (Jacques Poitras/CBC)

That parcel has an official New Brunswick land registry number, though it sits on the Nova Scotia side of the river.

Fredericton engineer Rob Hoadley noticed the anomaly last year, when provincial boundary shutdowns got him poking around maps of the area.

“I’m just that kind of guy to get curious about that kind of stuff,” he says. “At a time when we couldn’t physically cross the border, here’s a spot that may or may not be in New Brunswick.”

A federal government atlas shows the boundary running down the river, which would put the land in Nova Scotia. Election New Brunswick’s official map of the riding of Memramcook-Tantramar does not include the property.

A new channel was dug in the 1950s. (Jacques Poitras/CBC)

But a Nova Scotia online map shows the border deviating from the river to wrap around the parcel of land, placing it in New Brunswick.

And that map is the correct one, says its owner.

“We own the property and we pay taxes on it,” says Edie Helm, who grew up on her family’s farm on the New Brunswick side of the river.

Helm lives in Amherst but the property taxes for the land are levied by, and paid to, New Brunswick.

But how can that be?

The Missaguash has been the boundary between the two provinces since King George III approved carving New Brunswick out of what used to be a much larger Nova Scotia on June 18, 1784.

Hank Kolstee, a retired agricultural engineer who worked at the Nova Scotia Agricultural College, says the anomaly is a product of drainage needs. (Robert Guertin/CBC)

The order-in-council said the boundary would be established by “drawing a line of separation from the Mouth of the Musquat [Missiguash] River” to its source.

The two provinces confirmed that almost a century later when they passed legislation identifying the Missaguash as the boundary.

But that was then.

“The river would have had a different routing in its earlier days,” says local farmer John Atkinson.

The farmers at that time were more concerned about getting proper drainage than worrying about on what side to the border their land was going to be on.– Hank Kolstee, retired agricultural engineer.

In 1949 the federal government took over maintenance of the dike system here under the Maritime Marshland Reclamation Act. 

The river’s meandering watercourse featured an oxbow, a U-shaped bend in the river that wrapped almost entirely around this teardrop-shaped parcel of land. 

That presented a drainage problem.The dike system was designed to let the river’s freshwater current out without allowing salt water in. 

“That could cut the distance in that particular area by about a third, so you could get much better water flow in that area,” says Hank Kolstee, a retired agricultural engineer who worked at the Nova Scotia Agricultural College and worked on marshland projects.

In this case, a new channel shifted the river to the north of the five-hectare parcel of land.

It also produced this jurisdictional anomaly.

“I don’t know what their thinking was way back then, as to the legalities of the Nova Scotia or New Brunswick land registry or whatever,” Atkinson says.

“If you look at the old marsh plans, it will show where the old channel was, and what was actually the border between Nova Scotia and New Brunswick,” Kolstee says.

“The farmers at that time were more concerned about getting proper drainage than worrying about on what side to the border their land was going to be on. But it just looks a little odd right now because they consider that the new channel is the border.”

The piece of New Brunswick that lives on the Nova Scotia side

5 hours ago

This marshy notch was once an oxbow on the N.B side of the river — but not anymore. 4:02

‘Complex web of agreements’

Service New Brunswick spent several days looking into the “complex web of agreements, precedents and conventions” that apply to boundaries before they could explain the property’s legal status.

According to spokesperson Jennifer Vienneau, a boundary defined by a natural geographic feature like a river can move only by “slow and imperceptible” natural causes such as accretion or erosion.

If a river is altered artificially, by human engineering, the boundary does not move.

The new channel dug in the Missaguash “would have caused the watercourse to be relocated, but the original river bed would continue to be the legal boundary,” she said.

So the issue isn’t as murky as it seemed.

The situation here is as calm and quiet as Fort Beauséjour, a monument to long-ago battles for this territory, standing at ease on the horizon.

There’s one last issue: you can’t get to this stranded piece of New Brunswick without crossing into Nova Scotia, or wading across the mucky, marshy river.

But that’s hardly a pressing concern.

Edie Helm, the owner of the property, wouldn’t agree to an interview, but in a brief telephone conversation made it clear no one needs to worry about access.

“It’s not for sale,” she said.

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Tesla Promises Cheap EVs by 2025 | OilPrice.com – OilPrice.com

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Tesla Promises Cheap EVs by 2025 | OilPrice.com



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Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

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Tesla has promised to start selling cheaper models next year, days after a Reuters report revealed that the company had shelved its plans for an all-new Tesla that would cost only $25,000.

The news that Tesla was scrapping the Model 2 came amid a drop in sales and profits, and a decision to slash a tenth of the company’s global workforce. Reuters also noted increased competition from Chinese EV makers.

Tesla’s deliveries slumped in the first quarter for the first annual drop since the start of the pandemic in 2020, missing analyst forecasts by a mile in a sign that even price cuts haven’t been able to stave off an increasingly heated competition on the EV market.

Profits dropped by 50%, disappointing investors and leading to a slump in the company’s share prices, which made any good news urgently needed. Tesla delivered: it said it would bring forward the date for the release of new, lower-cost models. These would be produced on its existing platform and rolled out in the second half of 2025, per the BBC.

Reuters cited the company as warning that this change of plans could “result in achieving less cost reduction than previously expected,” however. This suggests the price tag of the new models is unlikely to be as small as the $25,000 promised for the Model 2.

The decision is based on a substantially reduced risk appetite in Tesla’s management, likely affected by the recent financial results and the intensifying competition with Chinese EV makers. Shelving the Model 2 and opting instead for cars to be produced on existing manufacturing lines is the safer move in these “uncertain times”, per the company.

Tesla is also cutting prices, as many other EV makers are doing amid a palpable decline in sales in key markets such as Europe, where the phaseout of subsidies has hit demand for EVs seriously. The cut is of about $2,000 on all models that Tesla currently sells.

By Charles Kennedy for Oilprice.com

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Why the Bank of Canada decided to hold interest rates in April – Financial Post

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Divisions within the Bank of Canada over the timing of a much-anticipated cut to its key overnight interest rate stem from concerns of some members of the central bank’s governing council that progress on taming inflation could stall in the face of stronger domestic demand — or even pick up again in the event of “new surprises.”

“Some members emphasized that, with the economy performing well, the risk had diminished that restrictive monetary policy would slow the economy more than necessary to return inflation to target,” according to a summary of deliberations for the April 10 rate decision that were published Wednesday. “They felt more reassurance was needed to reduce the risk that the downward progress on core inflation would stall, and to avoid jeopardizing the progress made thus far.”

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Others argued that there were additional risks from keeping monetary policy too tight in light of progress already made to tame inflation, which had come down “significantly” across most goods and services.

Some pointed out that the distribution of inflation rates across components of the consumer price index had approached normal, despite outsized price increases and decreases in certain components.

“Coupled with indicators that the economy was in excess supply and with a base case projection showing the output gap starting to close only next year, they felt there was a risk of keeping monetary policy more restrictive than needed.”

In the end, though, the central bankers agreed to hold the rate at five per cent because inflation remained too high and there were still upside risks to the outlook, albeit “less acute” than in the past couple of years.

Despite the “diversity of views” about when conditions will warrant cutting the interest rate, central bank officials agreed that monetary policy easing would probably be gradual, given risks to the outlook and the slow path for returning inflation to target, according to the summary of deliberations.

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They considered a number of potential risks to the outlook for economic growth and inflation, including housing and immigration, according to summary of deliberations.

The central bankers discussed the risk that housing market activity could accelerate and further boost shelter prices and acknowledged that easing monetary policy could increase the likelihood of this risk materializing. They concluded that their focus on measures such as CPI-trim, which strips out extreme movements in price changes, allowed them to effectively look through mortgage interest costs while capturing other shelter prices such as rent that are more reflective of supply and demand in housing.

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They also agreed to keep a close eye on immigration in the coming quarters due to uncertainty around recent announcements by the federal government.

“The projection incorporated continued strong population growth in the first half of 2024 followed by much softer growth, in line with the federal government’s target for reducing the share of non-permanent residents,” the summary said. “But details of how these plans will be implemented had not been announced. Governing council recognized that there was some uncertainty about future population growth and agreed it would be important to update the population forecast each quarter.”

• Email: bshecter@nationalpost.com

Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.

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Meta shares sink after it reveals spending plans – BBC.com

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Woman looks at phone in front of Facebook image - stock shot.

Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings.

The Facebook and Instagram owner said expenses would be higher this year as it spends heavily on artificial intelligence (AI).

Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024.

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Meta has been updating its ad-buying products with AI tools to boost earnings growth.

It has also been introducing more AI features on its social media platforms such as chat assistants.

The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.

Its shares fell despite it beating expectations on its earnings.

First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.

Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said its spending plans were “aggressive”.

She said Meta’s “substantial investment” in AI has helped it get people to spend time on its platforms, so advertisers are willing to spend more money “in a time when digital advertising uncertainty remains rife”.

More than 50 countries are due to have elections this year, she said, “which hugely increases uncertainty” and can spook advertisers.

She added that Meta’s “fortunes are probably also being bolstered by TikTok’s uncertain future in the US”.

Meta’s rival has said it will fight an “unconstitutional” law that could result in TikTok being sold or banned in the US.

President Biden has signed into law a bill which gives the social media platform’s Chinese owner, ByteDance, nine months to sell off the app or it will be blocked in the US.

Ms Lund-Yates said that “looking further ahead, the biggest risk [for Meta] remains regulatory”.

Last year, Meta was fined €1.2bn (£1bn) by Ireland’s data authorities for mishandling people’s data when transferring it between Europe and the US.

And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.

Ms Lund-Yates added that the firm has “more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment”.

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