Wed, April 24, 2024 at 9:35 AM EDT
Business
N.B. reports 7 new COVID-19 cases; active cases rise to 41 – CTV News Atlantic
HALIFAX —
New Brunswick is reporting seven new cases of COVID-19 on Sunday, bringing active case numbers to 41.
On Sunday, New Brunswick Public Health reported six of the cases are in Zone 1 (Moncton region); while 1 of the cases is in Zone 5 (Campbellton region).
The six cases in Zone 1 (Moncton region) involve:
- An individual in their 30s
- Three individuals in their 60s
- An individual in their 70s
- An individual in their 80s
The case in Zone 5 (Campbellton region) involves an individual in their 50s.
All cases are self-isolating and under investigation.
“We are seeing a spike in COVID-19 cases and we need New Brunswickers to fully co-operate with Public Health staff and directives in order to manage the cases now and going forward,” said chief medical officer of health Dr. Jennifer Russell on Sunday in a release. “Get tested if you are displaying COVID-19 symptoms and stay home if you are not feeling well. Do not take chances with your health and those of your loved ones and others in the community.”
VIGILANCE WHILE AWAITING VACCINES
The seven cases announced on Sunday are only a portion of a post-holiday spike health officials warned could happen if pandemic protocols were not followed properly.
“Masking, physical distancing, washing your hands are still going to be critically important until we get to vaccination numbers around 80 per cent, which probably won’t be until the fall,” says New Brunswick Medical Society president Dr. Jeff Steeves.
Despite the shaky start, the beginning of 2021 comes with new hope for front-line health care workers as vaccinations are administered.
Emergency room doctor Hanif Chatur, who works in Woodstock, is excited to receive his second dose of the COVID-19 vaccine within the next seven days.
“What it does is that, if and when, in my high-risk environment, I come into contact with the virus, my immune system is going to be able to fend it off,” says Dr. Chatur. “At the very least, I’m not going to be able to develop severe COVID.”
New Brunswick is currently in the first stage of its vaccine rollout plan, with the vaccine not expected to be widely available until the spring or summer – all the more important for residents not to let their guard down.
“Presently, we’ve vaccinated about .2 per cent of the population with just their first dose, and approximately 1.4 per cent have recovered from COVID-19,” says Dr. Steeves. “Therefore, that leaves 98 per cent of the population still at risk.”
Meanwhile, Dr. Chatur provides a reminder to remain vigilant, even for those who have been vaccinated.
“We don’t really know what my infectivity is going to be, [or] if I’m still going to be transmissible,” says Dr. Chatur. “I need to mask, glove wash and be vigilant because I don’t want to make anyone else sick.”
CASE BREAKDOWN
New Brunswick has had 618 confirmed cases of COVID-19, of which 567 have recovered. There have been nine deaths, leaving 41 active cases in the province.
One person is currently in hospital in an intensive care unit, as a result of COVID-19.
To date, 154,124 COVID-19 tests have been conducted in New Brunswick.
CASE LOCATIONS
The number of cases are broken down by New Brunswick’s seven health zones:
- Zone 1 – Moncton region: 161 confirmed cases (12 active cases)
- Zone 2 – Saint John region: 129 confirmed cases (1 active case)
- Zone 3 – Fredericton region: 135 confirmed cases (18 active cases)
- Zone 4 – Edmundston region: 34 confirmed cases (5 active cases)
- Zone 5 – Campbellton region: 139 confirmed cases (2 active cases)
- Zone 6 – Bathurst region: 14 confirmed cases (1 active case)
- Zone 7 – Miramichi region: 6 confirmed cases (2 active cases)
IMPORTANCE OF SELF-MONITORING
Public Health is reminding New Brunswickers of the importance of self-monitoring for COVID-19 symptoms, such as:
- fever
- a new cough, or worsening chronic cough
- sore throat
- runny nose
- headache
- a new onset of fatigue
- diarrhea
- loss of sense of taste
- loss of sense of smell
- in children, purple markings on the fingers and toes
VEHICLE TRAFFIC INFORMATION
New Brunswick’s online dashboard includes information about vehicle traffic attempting to enter the province.
On Saturday, 632 personal and 295 commercial vehicles attempted to cross the border into the province.
Of the vehicles attempting to cross the border, 32 were refused entry, for a refusal rate of 3.5 per cent.
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Business
Oil Firms Doubtful Trans Mountain Pipeline Will Start Full Service by May 1st
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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.
Business
Tesla profits cut in half as demand falls
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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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