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Fact check: How much does Ontario's COVID-19 vaccine rollout lag other provinces? – National Post

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A province-by-province overview of Canada’s immunization rates

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Critics have been decrying the speed, or lack thereof, at which the Ontario government is vaccinating its people against the coronavirus. Well ahead of the game — according to per cent of population inoculated — are all three territories by a long chalk, as well as Quebec and P.E.I.

While vaccine procurement is a federal task, deployment is up to each province and territory. In December, Quebec gave long-term care residents their jabs straight from distribution centres within the facilities themselves. Upon receipt of its vaccine doses in December, British Columbia also sent them straight to long-term care homes. But Ontario held on to its inventory for three weeks before shipping it to such facilities, doing so only after vaccine-handling criteria were changed.

Ontario began with Toronto and Ottawa test sites in late December, so it could write a “playbook” on how they administered the vaccinations, how they handled the vaccine and what they learned from it.

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But former federal health minister Jane Philpott told the CBC that “There’s no point gained for doing this in a slow and steady fashion. There are no points gained for pacing ourselves or rationing out the vaccine.”

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By Feb. 26, 1.78 million doses had been administered across the country to 3.33 per cent of the total population. (Just over 2.44 million doses had been delivered to the provinces.)

Of those 1.78 million doses, 1.27 million people received just one dose and 511,975 have received two.

But are Ontario vaccination counts so far behind the others, as critics charge?

Comparison figures (from east to west) show that the province’s rate of administering doses is 10th of 13 jurisdictions.

The number of people fully vaccinated and the per cent of the total population vaccinated (at least one dose) in each province, by end of day Feb. 26, break down thus:

  • Newfoundland and Labrador: 7,466; 2.460
  • Prince Edward Island: 5,165; 4.390
  • Nova Scotia: 12,105; 2.034
  • New Brunswick: 11,036; 1.956
  • Quebec: n/a; 4.671
  • Ontario: 258,014; 2.618
  • Manitoba: 28,557; 3.111
  • Saskatchewan: 22,485; 3.987
  • Alberta: 82,989; 2.807
  • British Columbia: 73,808; 3.470
  • Yukon: 4,309; 25.761
  • N.W.T.: 1,934; 32.214
  • Nunavut: 4,107; 18.521

And following is the current plan for vaccine rollout across the country. Click on the headers below to go to each province’s official vaccination plans.

Newfoundland and Labrador

The province is in Phase 1 of its vaccine rollout. Those with priority include:

  • health-care workers on the front lines
  • residents, staff and essential visitors at long-term care homes
  • people 85 years and older
  • adults in remote or isolated indigenous communities.

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(Essential visitors are those considered, by the care team, to be paramount to the resident’s physical care and mental well-being, including assistance with feeding, mobility, personal care, communication or significant behavioural symptoms.)

The province had received 26,800 doses, and by Feb. 23 had administered a total of 20,285 inoculations (60 per cent of doses administered). Total inoculations counts both the number of single-dose and two-dose vaccinations.

Prince Edward Island

The first phase of the province’s rollout is underway. This targets:

  • residents and staff of long-term and community care
  • health-care workers with direct patient contact
  • those 80 and older
  • adults in Indigenous communities
  • truck drivers and other rotational workers.

The next phase, scheduled to begin in April, will target those older than 70 and essential workers.

The province intends to make the vaccine available to everyone in late summer and fall.

P.E.I. has received 14,715 doses and has given 12,176 inoculations in total (83 per cent).

Nova Scotia

The first phase of vaccines will be given to long-term care residents, patient-facing health-care workers, those 80 and older, and at-risk groups including First Nations and African Nova Scotian communities.

Though no dates are given for moves to the next phases, the second will include:

  • anyone who works in a hospital and may come into contact with a patient
  • community health-care providers such as dental and pharmacy workers
  • correctional facilities, shelters, temporary foreign worker quarters
  • those working in food security industries
  • the general population in the 75 and older age cohort.

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The third phase will include all Nova Scotians, in five-year age ranges.

Nova Scotia plans to have vaccine available to at least 75 per cent of the population by the end of September 2021.

The province has given 32,019 doses of the 61,980 received (52 per cent).

New Brunswick

The focus now is on vaccinating those in long-term care homes, health-care workers with direct patient contact, those 16 and older in First Nations communities and New Brunswickers aged 85 and up.

The next phase, to begin in April, includes:

  • residents and staff of communal settings
  • pharmacists and dentists
  • first responders
  • critical infrastructure employees
  • individuals aged 70 and up
  • workers who regularly cross the provincial border.

From June onward, vaccinations will go to school staff, students aged 16 to 24, health-care workers with indirect patient contact, and those with two or more chronic health conditions.

Availability of the vaccine will be limited until mid- to late summer, the government says, but once the supply is continuous, the entire population will be offered the shots.

So far, 26,317 doses have been administered of  35,105 doses received (56 per cent).

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Quebec

Throughout the province, those aged 85 and older can make an appointment to get vaccinated. Anyone accompanying such a person can also book a vaccination for that same time, if they are over 70 and care for the person three or more days a week.

The province plans to vaccinate those in:

  • residential and long-term care centres
  • health- and social services workers
  • isolated and remote communities
  • people 80 years or older.

Access for other ages will roll out in 10-year age increments.

Quebec has administered 400,540 injections of 537,825 doses received (75 per cent).

Ontario

Phase 1 of three phases reserves inoculations for those in long-term care, high-risk retirement-home residents, certain classes of health-care workers, and people who live in congregate care settings.

Currently, the start dates for vaccinations in Ontario are as follows:

  • 80 and older, and adults receiving chronic home care: starting March 15
  • 75 and older: April 15
  • 70 and older: May 1
  • 65 and older: June 1
  • 60 and older: July 1
  • anyone who wants to be immunized: Aug. 1.

To date, 643,765 doses have been administered of 903,285 received (71 per cent).

Manitoba

Most people aged 95 and up, or 75 and up for First Nations people, health-care workers, laboratory workers handling COVID specimens, people working at testing sites or outpatient care are being vaccinated in Phase 1. All personal-care-home residents should have received their two doses by the end of February.

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In early March, eligibility expands to:

  • most people over 80
  • First Nations individuals over 60
  • eligible age ranges will be lowered over the coming months
  • at this time, the plan does not include a separate category for essential workers but will be considered as vaccine supplies increase.

The province has received 102,360 doses and has administered 71,469 (66 per cent).

Saskatchewan

Long-term care residents and staff, health-care workers at elevated risk of COVID-19 exposure, seniors over the age of 70 and anyone 50 or older living in a remote area are in the current Phase 1 category. In all, nearly 400,000 doses are required to finish this stage. Eligible residents will be contacted by phone or letter.

Mass vaccinations by age group should begin by April, depending on supply. It will roll out into the general population:

  • in 10-year increments
  • starting with those aged 60 to 69
  • for those living in emergency shelters
  • for individuals with intellectual disabilities in care homes
  • for people who are medically vulnerable.

Police, corrections staff and teachers are among the front-line workers not prioritized for early access to shots. The government says supply is scarce.

Saskatchewan has administered 69,451 doses of 74,605 received (93 per cent).

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Alberta

People born in 1946 or earlier are now being immunized. First shots are expected to have been given by the end of March for:

  • all eligible First Nations and Metis seniors and others 65 and older living in a First Nations community
  • those aged 75 and older can get inoculations as of the first week of March at select pharmacies in Calgary, Edmonton and Red Deer. Pharmacies will contact eligible people.
  • second shots will be administered within 42 days after initial doses.

The province is working on categorizing target populations for future phases.

Alberta has received 274,965 doses and has administered 207,300 (75 per cent).

British Columbia

The province’s first phase launched in December, targeting health-care workers in hospitals, paramedics, residents and staff at long-term care homes, and remote indigenous communities. Some mobile clinics are being offered.

The second phase, running February and March, includes:

  • people aged 80 and more
  • indigenous elders 65 and up
  • indigenous communities that didn’t receive vaccine in the first phase
  • health-care workers and vulnerable populations in certain congregate settings.

The third phase, to start in April and last until June, will reach people aged 60 to 79, and those 16 and older who are clinically vulnerable, such as cancer patients.

B.C. has given 252,373 injections of 323,340 doses received (78 per cent).

Northwest Territories

N.W.T. has vaccinated 42 per cent of its adult population, and expects enough vaccine to offer inoculations to 75 per cent of its adult population by the end of March.

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  • clinics are underway or completed in all 33 of the territory’s communities
  • Yellowknife is prioritizing residents and staff in long-term care homes
  • vaccination of the general population will begin in late March.

N.W.T. has given 16,454 injections of 19,100 doses received (86 per cent).

Yukon

The government has vaccinated:

  • high-risk health-care workers
  • adults 70 and older
  • people who are marginalized
  • people living in group settings.

Uncertainty about supply has delayed immunization for the general public in Whitehorse.

Yukon has administered 15,174 doses of 18,900 received (80 per cent).

Nunavut

Vaccine clinics for the general population have been scheduled for all communities, dependent on vaccine supply. The territory expects to immunize 75 per cent of its residents over the age of 18 by early April.

Currently, in Iqaluit, Nunavut’s capital first-dose immunization is going on for:

  • staff and residents of shelters
  • people aged 45 years and up
  • staff and inmates in correctional facilities
  • first responders and frontline health-care staff.

Nunavut has administered 11,383 doses of 23,900 received (48 per cent).

— with files from The Canadian Press

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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

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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