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Elon Musk Welcome A Boy, Explain The Meaning Of His Name

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Edited By Harry Miller

Elon Musk just appeared to confirm the arrival of his baby in the most Elon Musk way possible.

Musk reacted on Monday to a headline reading, “400 Miles With A Tesla Model S? EPA Denies Claim That Testing Was Faulty.” Musk argued, “Weird that EPA would deny this. We have precise car logs that confirm it happened. Happy to provide them.”

One fan replied to Eon musk car-like comment to ask about his incoming baby with partner Grimes. Musk responded, revealing the baby was “a few hours away!” He later circled back to the tweet and confirmed, “Mom and baby all good.”

Responding to someone else who asked what the name of his newborn child is, he tweeted, “X Æ A-12 Musk”.

He also confirmed the baby is a boy.

Musk then shared some adorable snaps of the little one.

The South African magnate, 48, and the Canadian songstress, 32, confirmed they were dating on May 7, 2018. It was revealed in January that Grimes was expecting a child.

ET Canada has reached out to Grimes’ rep for a comment.

In the meantime, Grimes took to social media to explain the meaning behind the unique name she and Musk selected for their son.

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Laurentian Bank cuts dividend by 40% – CBC.ca

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Laurentian Bank slashed its dividend by 40 per cent on Friday, the first such move by a major Canadian lender in almost three decades.

The Montreal-based lender said Friday its profit fell by 79 per cent to $8.9 million, and its provisions for credit losses — the amount of money the bank is setting aside to cover loans that may go bad — soared to $54.9 million. That’s up from $9 million in the same period a year ago.

COVID-19 is throwing uncertainty to the bank’s outlook, so it cut its dividend to 40 cents a share as a precaution. Previously it was 67 cents a share.

“We have a strong capital and liquidity position, and disciplined risk management, but it is a time for prudence,” CEO François Desjardins said. “Although we believe that current earnings are not reflective of the future earnings power of the organisation, we have reduced the dividend to $0.40 per share which improves operational flexibility until we reap the anticipated benefits of our strategic plan.”

The last time a major Canadian bank slashed its dividend was 1992, when National Bank cut the payout to its shareholders.

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First-quarter GDP worst showing since 2009: StatCan – CTV News

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OTTAWA —
Canada’s economy had its worst quarterly showing since 2009 through the first three months of 2020 owing to COVID-19, Statistics Canada said Friday, warning an even steeper drop may be coming.

Gross domestic product fell at an annualized rate of 8.2 per cent in the first quarter, including a 7.2-per-cent drop in March as restrictions by public health officials began rolling out, including school closures, border shutdowns and travel restrictions.

Preliminary information indicates an 11 per cent drop in GDP for April, but the statistics agency said that figure is likely to be revised as more information becomes available.

Similarly, the agency said first-quarter figures are likely to have larger than usual revisions in subsequent data releases. Some numbers had to be estimated because they were not available.

Early indications are that March and April could end up as the largest consecutive monthly declines on record.

The drastic drop in gross domestic product likely doesn’t fully reflect the experience of every Canadian, said BMO chief economist Douglas Porter, noting GDP is just one barometer of how the pandemic has affected the domestic economy.

“You don’t get the entire picture just from GDP and even from employment (figures) because policy-makers have stepped up with such unusual and aggressive actions that a lot of the common metrics just don’t apply 100 per cent in this episode,” Porter said in an interview.

The federal response to date totals about $152 billion in direct spending. The parliamentary budget officer has said that could leave the deficit at $260 billion, with a national debt north of $950 billion.

A preliminary estimate released by the Finance Department on Friday showed deficit of $21.8 billion for the fiscal year that closed in March. The figure will still be subject to revisions, which may land it closer to the government’s last estimate of $26.6 billion.

The monthly fiscal monitor also showed the debt pushed past $794.4 billion.

Many of the items adding to this year’s deficit are expected to show up in supplementary spending estimates. The documents will be scrutinized for four hours in mid-June based on the motion the adopted this week to put the Commons on extended hiatus until late September.

Budget officer Yves Giroux told a Commons committee on Friday that would provide parliamentarians little opportunity to properly scrutinize tens of billions, if not over $100 billion in proposed spending.

“It comes up as a very expensive four hours potentially for Canadian taxpayers,” he said. “The amount of scrutiny for this unprecedented spending will also be unprecedented, but for the wrong reasons.”

The latest federal spending figures showed $41.44 billion has been paid to 8.29 million people through the Canada Emergency Response Benefit, and $7.9 billion in wage subsidies to 181,883 companies.

MPs on the Commons finance committee were told Thursday the cost of the wage susbidy program is somewhat less than the original $73-billion estimate. Consultations are underway to understand why companies aren’t accessing the program that covers 75 per cent of salaries, subject to a cap of $847 per week, per employee.

Asked about the lopsided spending, Prime Minister Justin Trudeau said the subsidy will become “more and more important” as restrictions ease and businesses reopen. He also said the CERB has helped “support millions of Canadians who need help paying for groceries, paying their rent.”

Statistics Canada said household spending, a backbone of the Canadian economy, was down 2.3 per cent in the first quarter of 2020, the steepest quarterly drop ever recorded.

The drop in household spending was broad, affecting goods like new cars and clothing, and services for food as bars and restaurants in particular were ordered closed. Instead, spending on going out became money spent staying in, Statistics Canada said, noting increases in household food and alcohol by 7.2 per cent and six per cent, respectively.

As a result of less spending overall, the savings rate rose for the quarter to 6.1 per cent from the 3.6 per cent recorded in the fourth quarter of 2019 with higher rates recorded at higher income levels.

The savings built up during the shutdown period could translate into extra spending as restrictions ease, said CIBC senior economist Royce Mendes in a note.

TD senior economist Brian DePratto wrote in a note that it isn’t unreasonable to think a modest recovery may already be forming.

“The key question is what kind of recovery? Given the significant hits to incomes and longer-lasting impacts on some industries, a marathon appears more likely than a sprint.”

This report by The Canadian Press was first published May 29, 2020.
 

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Alberta partners with fast-food restaurants to distribute 4 non-medical masks to every resident – Globalnews.ca

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The Alberta government will provide every resident with four non-medical face masks, as the province continues its phased approach to relaunch the economy.

Health Minister Tyler Shandro announced Friday morning that the government has partnered with A&W, McDonald’s Canada and Tim Hortons to distribute the masks at the restaurants’ drive-thru locations.

The masks will be free of charge.

“Alberta is the first and so far, as far as I know, the only province that has decided to distribute masks province-wide,” Shandro said. “This program will help Albertans get back to work and enjoy everyday activities safely.”

While mask use is not mandatory, Alberta’s chief medical officer of health has recommended Albertans wear a non-medical mask when two metres of physical distance cannot be maintained, such as on public transit.


READ MORE:
Coronavirus: Non-medical masks now recommended for Canadians, officials say

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A total of about 20 million non-medical masks will be distributed at a cost of around $20 million. Shandro said partnering with the fast-food restaurants will cut down on the distribution cost to government, which is around $350,000.

“These three partners are doing it without added expense to the Alberta taxpayer,” Shandro said.


READ MORE:
Coronavirus: Alberta changes PPE distribution, businesses must obtain own masks after June 30

The drive-thru pickup also provides safe physical distancing for Albertans, as people will be able to stay in their vehicles.

Shandro said the three restaurant companies have about 600 drive-thru locations in the province, and 95 per cent of Albertans live within 10 kilometres of one of these locations.

The province is working on a plan to ensure distribution of masks is possible to the remaining five per cent of the population, Shandro said.

“Even if you don’t have an A&W, a McDonald’s or a Tim Hortons in your community, you will be able to get your four masks,” he said.


READ MORE:
Coronavirus: Alberta government asks non-AHS staff needing PPE to request via email

The government’s distribution cost is “for us to be able to pay for the gap distribution for the other five per cent of folks who may not be able to get to a drive-thru,” according to Shandro.

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Distribution will be done on the honour system.

“We’re not asking for folks to bring in their health-care card and get a punch to show that they’re already picked up,” Shandro said.

[ Sign up for our Health IQ newsletter for the latest coronavirus updates ]

“This is on the honour system, but Albertans are responsible and they’ve shown us that. Throughout the response to this pandemic, Albertans have shown us that they are responsible.

“Obviously there may be some folks who will be unable to make their way to a drive-thru — I’m thinking about one of my parents in particular — and whether it’s me or one of my siblings who has to go pick up for my parents, that’s going to be the case. And the folks at the 600 stores, the employees, are going to just have to trust Albertans and we’re going to have to trust Albertans.”






2:54
Alberta’s Dr. Hinshaw lays out best practices for wearing face masks to slow COVID-19 spread


Alberta’s Dr. Hinshaw lays out best practices for wearing face masks to slow COVID-19 spread

The health minister stressed the three-layered, non-medical face masks are not part of the provincial supply of personal protective equipment (PPE) meant for health-care workers and first responders.

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The masks are single-use, Shandro said.

“They are not medical grade masks. We are not taking away any of the PPE from our front lines,” Shandro said.


READ MORE:
University of Alberta works with AHS to make 3D-printed face shields

In a media release from the province, all three restaurants expressed their pleasure to be part of the mask program.

“A&W is very pleased to support the government of Alberta with this great initiative. Our restaurants across the province have been quick to step up and help organize the distribution of masks, and are looking forward to welcoming Albertans at our drive-thrus,” A&W Canada president and CEO Susan Senecal said.

“McDonald’s Canada, together with our franchisees, have been committed to helping our communities throughout this pandemic. We welcome this opportunity to use our drive-thru operations to assist the Alberta government, and do the right thing for Albertans when they need us most,” said Jeff Kroll with McDonald’s Canada.

“Throughout the pandemic, the 1,500 Tim Hortons owners across Canada have been eagerly supporting their local communities and stepping up to answer calls for assistance. When we were asked by the Alberta government to help distribute masks through our drive-thrus we did not hesitate. We’re proud to have been asked to participate in this important program and do our part to help Alberta move forward on its relaunch strategy,” Tim Hortons COO Mike Hancock said.

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Tanya Doucette, a Tim Hortons owner who runs eight locations across central Alberta, said the province has asked that they not hand out the mask bags inside the restaurant, just through the drive-thru.

“They want to ensure safe social distancing, and I think because they’re worried people might show up in large numbers and queues in person, that could create risk,” Doucette said.

“We have acrylic shields in our drive-thrus and our team members are wearing non-medical grade masks, so this is a safe distance option to hand out the masks.”


READ MORE:
Harvey’s makes unique use of hockey sticks during coronavirus pandemic

She said people must be in a vehicle, they cannot walk through the drive-thru.

“What you can do if you don’t have a vehicle or you don’t have access to a vehicle, you can ask a friend or family member to pick up your allotment of masks for you through a drive-thru location at Tim Hortons,” she said.

Representatives from McDonald’s and A&W also say that masks will only be handed out through the drive-thru, and people must be in a vehicle.

The masks have arrived and will be ready for distribution early next month. Further details of the rollout will be released in the coming days.

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Shandro encouraged Albertans to source their own non-medical masks through local businesses or make their own at home.

“This is not meant to be able to provide Albertans with an unlimited supply.”

More information on how to safely put on and take off a non-medical face mask can be found on the government’s website.






1:08
Hinshaw clarifies that N95 masks are not required for ‘typical care to a patient’


Hinshaw clarifies that N95 masks are not required for ‘typical care to a patient’

Shandro said that on Friday morning, Alberta surpassed the 250,000 mark when it comes to how many COVID-19 tests have been performed in the province. He said about 220,000 unique Albertans have been tested, as some people have been tested twice.

On Thursday, Alberta Health reported 29 new cases of COVID-19 in Alberta and two additional deaths related to the disease.

There were 652 active cases of COVID-19 in Alberta on Thursday afternoon.

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© 2020 Global News, a division of Corus Entertainment Inc.

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