Wed, April 24, 2024 at 9:35 AM EDT
Business
Manitoba opens eligibility to updated Moderna vaccine for Omicron variant – CBC.ca
Manitobans 65 and older, as well as Indigenous people 18 and older, are among the first people in the province eligible for the updated Moderna vaccine that targets the Omicron variant.
The bivalent vaccine, developed to protect against the original strain of the virus and the variant, was approved by Health Canada earlier this week for people age 18 and older.
The initial eligibility group in Manitoba also includes:
- Adults of any age with higher-risk medical conditions, including people who are immunocompromised due to a health condition or medication.
- Health-care workers age 18 or older.
- Residents of personal care homes and other congregate living facilities, including assisted living, group homes, shelters and correctional facilities.
Manitoba expects to receive its first shipment of 27,650 doses of vaccine next week, which will then be distributed to vaccine locations across the province, said Dr. Jazz Atwal, deputy chief provincial public health officer.
A second shipment of 77,600 doses is confirmed for the week of Sept. 12 and additional vaccine deliveries are expected in the following weeks.
Starting that same day, anyone age 12 and older will be eligible for a fall booster of the monovalent (original) vaccine, though Atwall strongly suggests they wait, if possible, for access to a bivalent vaccine because it provides broader coverage.
He did not say, though, when that age group would be eligible for the updated version. The province expects to be expand eligibility to those 18 and older in the coming weeks, based on vaccine supplies and initial uptake among eligible groups.
Updates on further eligibility and supply will be made at some point, he said.
Atwal’s suggestion that people delay their shot until they can get the bivalent vaccine goes against the province’s repeated messaging throughout the pandemic to get vaccinated as soon as possible.
When asked about that contradiction, Atwal said the science shows those at highest risk of severe outcomes from COVID-19 are those who will be eligible for the bivalent vaccine first.
“The idea behind a vaccine is to prevent those severe outcomes. That’s what was the issue right from the beginning,” he said.
“It’s not really about infection, per se. Most people will get an infection. Most Manitobans have had a COVID infection and most Manitobans have done well.”
Based on blood samples taken across the province, Atwall estimated 87.5 per cent of Manitobans have already had a COVID infection.
“It is those who are highest risk who we want to protect the most. Others are otherwise relatively healthy,” he said.
When analyzing data from the pandemic, focusing on the number of infections rather than severe outcomes “really does not help the situation at all,” he said.
“Don’t fret if you have to wait for your appointment for a couple of weeks, or even three weeks or four weeks. It’s OK to wait,” he said.
“The important thing here is, when that vaccine is available for you, book your appointment and get that bivalent vaccine. I think that’s the strongest message we want to bring forth.”
Available in mid-September
Appointments for the bivalent vaccine are expected to be available in mid-September, but people must first have completed their primary series of vaccines (usually two doses) before receiving the bivalent.
It is recommended to wait six months from the last dose of vaccine or COVID-19 infection. However, individuals who meet the criteria can receive the bivalent vaccine after a minimum of three months, if they feel they are at increased risk, Atwal said.
The bivalent vaccine can be given at the same time as other immunizations, such as the seasonal flu vaccine, once it becomes available this fall.
The bivalent vaccine was designed around Omicron BA.1, while BA.5 is the variant primarily circulating in the province, but it will still be effective, Atwal said, just as the original vaccine is effective against multiple variants of COVID-19.
“Variants change. Right now it’s BA.5, in six weeks it might be BA something else,” he said. “But all of those variants within Omicron, they’re like brothers and sisters.”
Early studies indicate the bivalent vaccine should have just as much impact on the different Omicron subvariants, Atwal said.
“This is all going to evolve. There will be other variants coming, and the more coverage you have, the more protection you have down the road for the next variant that may come.”
No silver bullet
Health officials are treating COVID as they do seasonal influenza, which comes in various strains with vaccines developed to target the most predominant one, Atwall said.
“There’s no silver bullet here,” he said. “The vaccines available will help reduce transmission and it should help reduce severe outcomes. We don’t want the deaths, we don’t want the hospitalizations, we don’t want the ICU admissions.
“This vaccine should do that.”
COVID is here to stay and it’s going to evolve, Atwal said. The question is whether it will flare up seasonally or linger year-round, as it has so far.
“There’s some questions we don’t know yet but yes … it’s likely here to stay, just like influenza,” he said.
Appointments for those eligible will start next week through the online vaccine booking tool, the vaccine call centre at 1-844-626-8222 (toll-free) or by contacting medical clinics and pharmacies directly, Atwall said.
Walk-in vaccinations will no longer be available at RBC Convention Centre after Sept. 10. The last day of operations at the convention centre will be Sept. 17.
The first appointments at a new vaccine clinic opening at 1680 Notre Dame Ave. will be Sept. 20. However, walk-ins will not be available at that location.
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Oil companies planning to ship crude on the expanded Trans Mountain pipeline in Canada are concerned that the project may not begin full service on May 1 but they would be nevertheless obligated to pay tolls from that date.
In a letter to the Canada Energy Regulator (CER), Suncor Energy and other shippers including BP and Marathon Petroleum have expressed doubts that Trans Mountain will start full service on May 1, as previously communicated, Reuters reports.
Trans Mountain Corporation, the government-owned entity that completed the pipeline construction, told Reuters in an email that line fill on the expanded pipeline would be completed in early May.
After a series of delays, cost overruns, and legal challenges, the expanded Trans Mountain oil pipeline will open for business on May 1, the company said early this month.
“The Commencement Date for commercial operation of the expanded system will be May 1, 2024. Trans Mountain anticipates providing service for all contracted volumes in the month of May,” Trans Mountain Corporation said in early April.
The expanded pipeline will triple the capacity of the original pipeline to 890,000 barrels per day (bpd) from 300,000 bpd to carry crude from Alberta’s oil sands to British Columbia on the Pacific Coast.
The Federal Government of Canada bought the Trans Mountain Pipeline Expansion (TMX) from Kinder Morgan back in 2018, together with related pipeline and terminal assets. That cost the federal government $3.3 billion (C$4.5 billion) at the time. Since then, the costs for the expansion of the pipeline have quadrupled to nearly $23 billion (C$30.9 billion).
The expansion project has faced continuous delays over the years. In one of the latest roadblocks in December, the Canadian regulator denied a variance request from the project developer to move a small section of the pipeline due to challenging drilling conditions.
The company asked the regulator to reconsider its decision, and received on January 12 a conditional approval, avoiding what could have been another two-year delay to start-up.
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Tesla profits slump by more than a half
Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn (£910m), compared with $2.51bn in 2023.
It caps a difficult period for the electric vehicle (EV) maker, which – faced with falling sales – has announced thousands of job cuts.
Boss Elon Musk remains bullish about its prospects, telling investors the launch of new models would be brought forward.
Its share price has risen but analysts say it continues to face significant challenges, including from lower-cost rivals.
The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.
Figures for the first quarter of 2024 revealed revenues of $21.3bn, down on analysts’ predictions of just over $22bn.
But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.
It did not reveal pricing details for the new vehicles.
However Mr Musk made clear he also grander ambitions, touting Tesla’s AI credentials and plans for self-driving vehicles – even going as far as to say considering it to be just a car company was the “wrong framework.”
“If somebody doesn’t believe Tesla is going to solve autonomy I think they should not be an investor,” he said.
Such sentiments have been questioned by analysts though, with Deutsche Bank saying driverless cars face “technological, regulatory and operational challenges.”
Some investors have called for the company to instead focus on releasing a lower price, mass-market EV.
However, Tesla has already been on a charm offensive, trying to win over new customers by dropping its prices in a series of markets in the face of falling sales.
It also said its situation was not unique.
“Global EV sales continue to be under pressure as many carmakers prioritize hybrids over EVs,” it said.
Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.
Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.
The cuts in Texas represent 12% of Tesla’s total workforce of almost 23,000 in the area where its gigafactory and headquarters are located.
However, Mr Musk sought to downplay the move.
“Tesla has now created over 30,000 manufacturing jobs in California!” he said in a post on his social media platform X, formerly Twitter, on Tuesday.
Another 285 jobs will be lost in New York.
Tesla’s total workforce stood at more than 140,000 late last year, up from around 100,000 at the end of 2021, according to the company’s filings with US regulators.
Musk’s salary
The car firm is also facing other issues, with a struggle over Mr Musk’s compensation still raging on.
On Wednesday, Tesla asked shareholders to vote for a proposal to accept Mr Musk’s compensation package – once valued at $56bn – which had been rejected by a Delaware judge.
The judge found Tesla’s directors had breached their fiduciary duty to the firm by awarding Mr Musk the pay-out.
Due to the fall in Tesla’s stock value, the compensation package is now estimated to be around $10bn less – but still greater than the GDP of many countries.
In addition, Tesla wants its shareholders to agree to the firm being moved from Delaware to Texas – which Mr Musk called for after the judge rejected his payday.
Business
Stock market today: Nasdaq futures pop, Tesla surges after earnings with more heavyweights on deck
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Tech stocks rose on Wednesday, outstripping the broader market as investors welcomed Tesla’s (TSLA) cheaper car pledge and waited for the next rush of corporate earnings.
The Nasdaq Composite (^IXIC) rose roughly 0.6%, coming off a sharp closing gain. The S&P 500 (^GSPC) was up 0.2%, continuing a rebound from its longest losing streak of 2024, while the Dow Jones Industrial Average (^DJI) fell 0.1%.
Tesla shares jumped nearly 12% after the EV maker’s vow to speed up the launch of more affordable models eclipsed its quarterly earnings and revenue miss. That cheered up investors worried about growth amid a strategy shift to robotaxis and the planned cancellation of a cheaper model.
The results from the first “Magnificent Seven” to report have intensified the already high hopes for Big Tech earnings, that the megacaps can revive the rally in stocks they powered. The spotlight is now on Meta’s (META) report due after the market close, as the Facebook owner’s shares rose after the Senate voted for a potential ban on rival TikTok. Microsoft (MSFT) and Alphabet (GOOG) next up on Thursday.
Meanwhile, Boeing (BA) reported better than expected first quarter results before the opening bell with a loss per share of $1.13, narrower than the $1.72 estimated by Wall Street. Shares rose about 2% in morning trade.
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