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Adoption of the Three-Year Capital Investment Program — Investments of $25 million in 2022 to improve infrastructure and enhance the municipal service offer – Pointe-Claire

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POINTE-CLAIRE, September 30, 2021—At an extraordinary meeting held on Tuesday, City Council adopted the 2022–2024 Three-Year Capital Investment Program, which includes investments of $25 million in 2022 to improve infrastructure and enhance the municipal service offer.

“In 2022, we plan on continuing to invest in major projects that will benefit the entire community, including repairs to several streets, improvements to parks and green spaces and municipal buildings, and new projects to improve quality of life for everyone,” Mayor John Belvedere said.

In terms of municipal infrastructure, repairs are planned for six streets: Aurora, Wilton, de Windward Crescent south, Chanteclerc (in collaboration with the City of Dorval), Bancroft and Des Sources Boulevard near Highway 40, under an agreement to be reached with the Réseau express métropolitain. In 2022, work will begin on the pedestrian bridge at the Des Sources overpass above Highway 20, in conjunction with the work by the Ministère des Transports in the area.

In terms of parks and green spaces, a mini-splash pad is planned for Augusta Park, and accessible washrooms will be built at the new Tony-Proudfoot Park. The two synthetic surfaces at the Terra-Cotta Park sports fields, which are at the end of their useful life, will also be replaced with new surfaces, which are also synthetic. These surfaces, which are very popular and appreciated by associations, provide more than 1,300 hours of activities per year compared to a grass surface, which provides 225 hours. An amount has also been earmarked in 2022 for lighting, planting and greening work on the new park in the Walton sector planned for 2023, following a public consultation process.

In terms of municipal buildings, investments are planned in order to continue to meet today’s needs and standards. In terms of equipment, we are also aiming to replace certain street maintenance equipment, and our teams are evaluating and prioritizing the acquisition of hybrid or electric vehicles where possible. In terms of street lighting, approximately 30% of public lighting in streets, parks and parking lots will be converted to LED by the end of 2021. The conversion will continue in the spring.

“Our priority remains the same: to continue to make Pointe-Claire an exceptional place to live for everyone by improving and enhancing our service offer for the community, while respecting our taxpayers’ ability to pay,” Mayor Belvedere concluded.

Information: 514-630-1200, communications@pointe-claire.ca

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Investment

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)

The Canadian Press. All rights reserved.

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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)

The Canadian Press. All rights reserved.

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