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Coronavirus: What's happening in Canada and around the world on Sunday – CBC.ca

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The latest:

  • Health Canada issues recall for disposable masks with graphene.
  • Alberta chief medical officer of health describes P1 variant outbreak as ‘significant.’
  • Researcher says coronavirus variants could require annual vaccinations, like the flu.
  • Daughter of COVID-19 victim pleads for stricter restrictions as cases surge in southern Alberta.
  • Situation in Ontario ICUs like a never-ending ‘fire’ amid COVID-19 3rd wave, says nurse.
  • Essential but forgotten? Youth working in grocery stores, cafés feel the strain.
  • Have a question about the COVID-19 pandemic? Send your questions to COVID@cbc.ca

Canada’s confirmed count of COVID-19 cases passed the one-million mark on Saturday — 14 months after the country’s first known case was recorded — while the number of vaccine shots administered surpassed six million.

The federal government’s goal was to have six million doses arrive in Canada by the end of the first quarter of the year — a target it met last week.

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“We’re expecting millions and millions more doses over the next weeks and months,” Procurement Minister Anita Anand told CBC News on Friday. She reiterated that 44 million vaccine doses are expected to arrive by the end of June.

When asked about the official number of cases, an infectious diseases specialist with Trillium Health Partners in Mississauga, Ont., said, “It’s actually probably more than a million.”

“It’s anywhere from five to 10 times more than that, because a lot of the time, especially at the beginning of the pandemic, we weren’t actually catching a lot of the cases that were happening,” Dr. Sumon Chakrabarti told CBC News on Sunday.

“Many cases are mild and are not getting tested,” he said. “The point is, this is a respiratory virus … and their job is essentially to infect people, and they do so very very efficiently.”

The two milestones are emblematic of where the nation stands with COVID-19, ramping up its vaccination drive as more contagious variants of the virus fuel the pandemic’s third wave in several parts of Canada.

Alberta, for instance, is investigating what the province’s chief medical officer of health described as a “significant” outbreak of the P1 variant of concern, which is now the dominant strain in Brazil.

Dr. Deena Hinshaw said in a tweet that the outbreak can be traced back to a returning traveller.

“Health officials are working hard to limit future spread and reaching out directly to those at risk of exposure,” she said. “AHS (Alberta Health Services) will ensure that anyone at risk is isolated, offered testing twice and connected with supports if needed.”

WATCH | Should vaccines be redirected to Canada’s COVID-19 hot spots?

Dr. Amit Arya, a palliative care physician, says Ontario’s new shutdown doesn’t get to the root of the problem. He says we need to focus our attention on vaccinating people at warehouses and at homes in hotspots rather than vaccinating by age groups. 7:16

Hinshaw said officials will provide an update on the investigation on Monday.

That province logged an estimated 1,100 new cases of COVID-19 on Saturday, roughly half of which are variants of concern.

Hinshaw said 35 per cent of the province’s active COVID-19 cases are due to those variants, which are more contagious and can cause more serious illness.

WATCH | Doctors bring COVID-19 vaccines to homebound seniors:

Ontario’s Covid-19 science table is pushing for more mobile vaccine units to vaccinate seniors in their homes after new data reveals that 25 per cent of Ontario seniors 75 and older have still not received their first shot because they’re either unwilling or unable to leave home for medical reasons. A look at two doctors leading the charge. 2:03

Meanwhile, the United States had administered 161,688,422 doses of COVID-19 vaccines in the country as of Saturday morning and distributed 207,866,645 doses, the U.S. Centers for Disease Control and Prevention said.

The tally is for Moderna, Pfizer/BioNTech, and Johnson & Johnson’s vaccines, the agency said.

The CDC said 104,213,478 people had received at least one dose while 59,858,146 people are fully vaccinated as of Saturday.


What’s happening across Canada

Health officials in British Columbia on Saturday announced 2,090 new cases of COVID-19 in the last two days, but did not provide information about deaths, variants of concern or the number of active cases.

Provincial Health Officer Dr. Bonnie Henry and Health Minister Adrian Dix again urged people to stay within their local health authority region to prevent the spread of the respiratory illness.

A total of 856,801 doses of COVID-19 vaccine have been administered in B.C. to date, including 87,455 second doses.

WATCH | 2 doctors on how to deal with Canada’s coronavirus 3rd wave:

Infectious disease specialists Dr. Lynora Saxinger and Dr. Zain Chagla discuss the latest restrictions in several provinces and how they’re feeling about where we are in the third wave. 7:54

In Saskatchewandrive-thru vaccination sites have opened in Prince Albert and North Battleford, and re-opened in Regina Saturday.

More drive-thru sites are anticipated to open this week across the province.

The Saskatchewan Health Authority website said the Lloydminster site is expected to open on Sunday, the Saskatoon drive-thru site is anticipated to open on Monday and the Yorkton and Weyburn sites are anticipated to open Tuesday. 

Manitoba logged 181 new cases and one additional death over the past two days.

Meanwhile, the province has now administered more than 200,000 vaccine doses.

Ontario logged 3,009 new cases as a new provincewide “shutdown” took effect to try to curb soaring infection rates.

The restrictions force gyms and personal care services to close, but allow essential and non-essential retailers to remain open, with their capacities limited to 50 per cent and 25 per cent respectively.

WATCH | ICU doctor says Ontario’s ’emergency brake’ is not enough:

Dr. Michael Warner, medical director of critical care at Michael Garron Hospital in Toronto, says the current restrictions are not enough to protect people who are getting sick in the third wave of the pandemic. Warner says the provincial framework won’t stop young people from getting sick and ending up in intensive care units. With permission, Dr. Warner spoke of one patient in particular who was very ill. She has since died. 5:23

Quebec confirmed 1,282 new cases and three new deaths.

A group of physicians, infectious disease specialists and other health experts say the Quebec government needs to shut down the Montreal region, before the spread of coronavirus variants spirals out of control.

New Brunswick registered nine new cases, of which seven are in the hard-hit Edmundston region. Hundreds of residents of the region are scheduled to be vaccinated at community clinics over the weekend.

Nova Scotia saw four new infections, bringing the province’s active case total to 32.

In the Northwest Territories, an outbreak has been declared at the Diavik Diamond Mine about 300 kilometres northeast of Yellowknife after a second worker tested positive for the virus within a week. 


What’s happening around the world

As of Sunday morning, more than 130.8 million cases of COVID-19 had been reported worldwide, according to a coronavirus tracking tool maintained by U.S.-based Johns Hopkins University. The global death toll stood at more than 2.84 million.

In Europe, Pope Francis said Easter Sunday mass under pandemic precautions. Only 200 or so faithful were allowed inside St. Peter’s Basilica to celebrate mass and hear the Urbi et Orbi blessing.

Italian State Police vehicle is seen in an empty St. Peter’s Square at the Vatican on Sunday. (Filippo Monteforte/AFP via Getty Images)

Normally, thousands would gather outside in St. Peter’s Square, with more than 100,000 sometimes assembling to receive the Pope’s special Easter blessing after the mass.

But this year, like last year, crowds are banned from gathering in Italy, and at the Vatican. So Francis scheduled his noon Easter address on world affairs to be delivered from inside the basilica.

In South Asia, India’s COVID-19 tally rose to 12,485,509 by Sunday evening local time as 93,249 new cases were reported from across the country over the past 24 hours, according to figures released by the federal health ministry.

In addition, 513 new deaths were registered in the past 24 hours, taking the country’s death toll to 164,623.

The latest number of new daily confirmed cases marks a record high since late September of last year.

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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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