Business
Canada's Economy Unexpectedly Contracts 1.1%; Loonie Weakens – Bloomberg
Canada’s rebound unexpectedly stalled through spring and early summer, raising questions about the resiliency of the nation’s economy.
Gross domestic product fell at an annualized 1.1% pace from April to June, Statistics Canada reported on Tuesday, down from a revised 5.5% gain in the first three months of the year. Economists in a Bloomberg survey were anticipating a 2.5% expansion.
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Health Canada has given its stamp of approval to Pfizer-BioNTech Comirnaty’s new COVID-19 vaccine that targets the Omicron XBB.1.5 subvariant.
The health department says it received Pfizer-BioNTech’s submission on June 29, 2023 and decided to authorize the shot’s use for individuals aged six months and older after “a thorough and independent review of the evidence.”
Health Canada says the vaccine is authorized as a one-dose vaccine for individuals five years of age and older, regardless of their COVID-19 vaccination history.
Infants and children between six months and less than five years of age, who have not previously received a complete COVID-19 primary series, should receive three doses. If they have completed a primary series, officials say they should receive one dose.
Moderna’s COVID-19 vaccine targeting the Omicron XBB.1.5 subvariant was authorized(opens in a new tab) by Health Canada earlier this month.
The department says it’s currently reviewing a submission from Novavax for its COVID-19 vaccine targeting the Omicron XBB.1.5 subvariant for people 12 years of age and older.
The National Advisory Committee on Immunization (NACI) is anticipated to provide guidance on the rollout of the newly approved COVID-19 vaccines in the coming months.
“Canada will have ample supply of the new formulation of mRNA vaccines available in fall 2023,” Health Canada said in a news release Thursday.
“Vaccination continues to be one of the most effective ways to protect ourselves against COVID-19. Evidence indicates that vaccines approved for use in Canada are effective at preventing severe illness, hospitalization and death from COVID-19.”
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Hyundai and Kia are recalling more than 600,000 vehicles in Canada and millions more in the U.S. due to a problem with the anti-lock braking system that can start a fire.
Documents posted by U.S. safety regulators on Wednesday say the anti-lock brake control module can leak fluid and cause an electrical short. That can touch off a fire while the vehicles are parked or being driven.
Hyundai says 326,942 vehicles in Canada are impacted, including:
- 77,571 model year 2012-2015 Hyundai Accent vehicles
- 153,026 model year 2011-2015 Hyundai Elantra vehicles;
- 4,403 model year 2013-2015 Hyundai Elantra Coupe vehicles;
- 85 model year 2014-2015 Hyundai Equus vehicles;
- 7,789 model year 2011-2015 Hyundai Genesis Coupe vehicles;
- 8,507 model year 2013-2015 Hyundai Santa Fe vehicles;
- 24,795 model year 2013 Hyundai Santa Fe Sport vehicles;
- 46,318 model year 2010-2013 Hyundai Tucson vehicles;
- 4,448 model year 2010-2012 Hyundai Veracruz vehicles.
An additional 1,642,551 of those and other makes and models are being recalled in the U.S.
The company says it is aware of 21 fires linked to the default in the United States, as well as 22 “thermal incidents,” including visible smoke, burning and melting, but Hyundai Canada told CBC News in a statement that there are “no crashes, injuries, or fatalities attributable to this condition.”
Kia Canada says 276,225 vehicles in Canada are impacted, including:
- 2010-2011 Borregos;
- 2015-2016 Cadenzas;
- 2010-2013 Fortes;
- 2010-2013 Forte Koups;
- 2015 K900s;
- 2010-2015 Optimas;
- 2012-2017 Rios;
- 2010-2017 Rondos,
- 2011-2014 Sorrentos;
- 2011-2013 Souls;
- 2010 Sportages;
An additional 1.7 million Kias in the U.S. are included in the recall.
In a statement, the U.S. National Highway Traffic Safety Administration said that “until these recalled vehicles have been repaired … the safest place to park them is outside and away from homes and other structures.”
It said that “fires can occur whether the vehicle is parked and turned off or while driving.”
Dealers will replace the anti-lock brake fuse at no cost to owners, but owners won’t be notified by mail until November.
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