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New vaping advertising limits coming, but no further restrictions on nicotine yet – CBC.ca

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With government figures showing a spike in the number of young people vaping, the federal government is preparing to place stricter limits on advertising and make health warnings on vaping products mandatory, CBC News has learned.

However, Ottawa is not yet ready to go as far as many health advocates want by further restricting the flavoured vape products known to appeal to younger users. It’s also still considering whether to further limit the level of nicotine in vaping products. Under the Canada Consumer Product Safety Act, it is prohibited to sell vaping devices that contain 66 mg/g of nicotine or more because they have been deemed “very toxic” by regulators. Most products sold legally are below that threshold.

The government has been considering the moves since consultations began in February.

Proposed regulations include banning advertising anywhere it can be seen or heard by youth, which includes public spaces, convenience stores and online.

They would also ban in-store displays of vaping products except for specialty stores that restrict entry to people 18 years or older.

Some brands already include health warnings on their products, but the proposed regulations would make it mandatory for all.

But that won’t go far enough for some public health advocates. Earlier this fall, organizations including the Canadian Medical Association called on the government to go further. They want more limits on the number of flavoured products available, in an effort to make vaping less attractive to youth. They have also called for stricter limits on nicotine levels.

Dr. Andrew Pipe, a professor of medicine at the University of Ottawa and a clinician scientist in smoking cessation at the university’s heart institute, welcomed the federal initiative but said more needs to be done. 

“I want to emphasize that the regulations that have been proposed have already been in place in Quebec, for instance, for some time and they’ve experienced the same rapid increase in vaping amongst young people as is being experienced all across Canada,” Pipe said in an interview. 

“Far from being a package of comprehensive regulations, this is just an initial attempt to address some of the more egregious marketing practices of the vaping industry.”  

Prime Minister Justin Trudeau was asked on CBC’s Power & Politics what’s holding his government back from moving further and faster on vaping.

“I think we need to leave room for proper science. We’re a government that works on evidence-based decisions,” Trudeau said.

A government official, speaking on background, said earlier that Health Canada still hopes to take action on flavours and nicotine levels in the new year. Officials are currently still debating the best way forward.

Youth vaping doubles

Health Canada has cracked down on shops selling illegal vaping products that defy current federal regulations. In 2019, the agency raided more than 3,000 vape shops, collecting more than 80,000 units of non-compliant vaping products.

The products seized include those that feature flavours advertised as “confectionery,” soft drinks or energy drinks, and products that exceed existing nicotine levels or include banned additives.

Under existing regulations, the government has restrictions on which ingredients can be put in a vaping product.

According to the government official, many of the vaping-related illnesses reported by people in recent months have come from users of vaping pods purchased on the illegal market. These products often include a vitamin E acetate additive, which the U.S.-based Centers for Disease Control and Prevention has said is partly to blame for the recent spate of vaping-related illnesses.

All of this is happening as youth e-cigarette use skyrockets.

According to the government’s figures, via the Canadian Student Tobacco, Alcohol and Drugs Survey, the number of students (grades 7-12) who say they have used an e-cigarette in the past 30 days has shot up to 20 per cent in 2018-19 — double the number from the previous year.

Health Canada said the changes will be published in Canada Gazette on Dec. 21, followed by 30 days of public comments and consultation. 

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Porsche Is Going Public At €82.50 A Share, Valuing Company At €75 Billion – CarScoops

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Porsche is going public this week and shares will each be available for €82.50 ($79.89), priced at the top of the company’s targeted price range.

The initial public offering (IPO) will see the Volkswagen Group sell 12.5 per cent of the company’s non-voting shares in a move that will raise approximately €9.4 billion ($9.1 billion) and value the automaker at €75.2 billion ($72.8 billion). This will make it Germany’s second-largest listing ever.

No less than 911 million shares will be sold in Porsche and approximately half of the proceeds generated by the listing on Frankfurt’s stock exchange will be distributed to shareholders. The rest of the funds will be used to help fund VW’s transition to all-electric vehicles.

Read More: VW Banking On Porsche IPO To Fund Future Electrification Plans

“In the event of a successful IPO, Volkswagen AG will convene an extraordinary general meeting in December 2022, at which it will propose to its shareholders to distribute in the beginning of 2023 a special dividend of 49 % of the total gross proceeds from the placement of the preferred shares and the sale of the ordinary shares,” the Volkswagen Group described in a statement.

The IPO is going ahead despite the current volatile state of the stock market and widespread economic concerns.

“This [IPO] is a key element for the group, especially because the possible proceeds would give us more flexibility to further accelerate the transformation,” Porsche CFO Arno Antlitz added in a statement earlier this month.

Speaking with the media last week, the head of VW’s works council, Daniela Cavallo, noted that the carmaker could sell more Porsche shares in the future in order to raise additional funds.

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Canada's economy grew by 0.1% in July, bucking expectations it would shrink – CBC News

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Canada’s gross domestic product expanded by 0.1 per cent in July, besting expectations of an imminent decline, as growth in mining, agriculture and the oil and gas sector offset shrinkage in manufacturing.

Statistics Canada reported Thursday that economic output from the oilsands sector increased sharply, by 5.1 per cent during the month. That was a change in direction after two straight months of decline, which brought second-quarter growth to 4.2 per cent thus far. 

The agriculture, forestry, fishing and hunting sector led growth with 3.2 per cent. Unlike the United States and Europe, both of which are facing drought conditions, Canada has had a good year for crop production said Scotiabank economist Derek Holt. 

On the downside, the manufacturing sector shrank by 0.5 per cent, its third decline in four months. Canada’s export market with the United States has softened and global supply chain issues linger, said Holt. The latter are gradually easing, which could create a better picture for the sector in the second half of the quarter. 

Wholesale trade shrank by 0.7 per cent, and the retail sector declined by 1.9 per cent. That’s the smallest output for retail since December. 

“What happened this summer was a big rotation away from goods spending towards services spending,” Holt said. Activities like haircuts, travel or outings to the theatre, made popular with the lifting of pandemic restrictions, leave out retail.

While the economy eked out slight growth in July, the data agency’s early look at August’s numbers shows no growth.

“The economy fared better than anticipated this summer, but the showing still wasn’t much to write home about,” said economist Royce Mendes with Desjardins. “While the data did beat expectations today, the numbers didn’t move the needle enough to see a material market reaction.”

The performance of Canada’s economy throughout the fiscal year — 3.6 per cent growth in Q1 and 4.2 per cent thus far in Q2 — remains one of the best in the world, Holt said. 

Mendes said he expects growth will stay under one per cent this year: half of the Bank of Canada’s two per cent prediction and a third of the growth seen in the first two quarters. 

“We’re definitely slowing, and more of that is coming in a lagged response to higher interest rates and all the challenges of the world economy,” Holt said. “But relative to the rest of the world, for the year as a whole, Canada has been in a sweet spot.”

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Employers and Your Ego Are Constantly at Odds Over Your Value

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When considering the value of an item from a holistic perspective and through the philosophical lenses of existentialism, you realize an item has no value until someone is willing to pay for it, whether it’s a Porsche 911 GT3, a 26th-floor condo in Vancouver, a cup of Starbucks coffee or pair of Levi’s jeans.

Have you ever bought an item, a leather jacket, for example, for $400 and then a month later, it was on sale for $250? The retailer reduced the price of the leather jacket because the number of customers willing to pay $400 had dwindled to the point where it wasn’t selling. Taking this analogy further, the jackets that ended up not selling had no value.

Value doesn’t simply exist. Value is assigned by supply and demand—demand being the keyword. The value of your skills and experience on the job market is determined by how much employers are willing to pay for them, which constantly fluctuates.

It’s no secret most employees feel underpaid. The perception is mostly personal, based on:

  • Your assessment of your worth, which is highly subjective, and
  • The amount of money you need for the lifestyle you created.

 

Neither is relevant.

In general, compensation isn’t arbitrary. A job’s value is determined by:

  • Job-specific educational requirements
  • Skillset required
  • Experience level
  • Responsibilities
  • Location

 

Additionally, those who criticize what employers are offering them never think about the scenario that the employer may have ten employees currently earning $65,000, whereas you want $75,000. It would cause turmoil to hire you at your asking salary.

“Getting paid what you’re worth!” has become a popular sentiment. In reality, though, the value you place on yourself and the value employers in your region are willing to pay you are two entirely different perspectives.

Recently, someone asked me if I felt underpaid. “Nope,” I replied, “I’m getting paid the amount I agreed to when I joined my employer.” I have never understood nor empathized with people who accept jobs and then complain about the pay.

Your ego and sense of entitlement may have convinced you that you deserve $75,000, but you may find that employers disagree with your value assessment. Anyone with a slight sense of business acumen understands an employee’s compensation needs to correlate with the value they bring to their employer.

Hiring involves taking a candidate’s words at face value, especially regarding their work ethic, past results, and ability to work well with others. Gut feel plays a significant role during interviews. Skills and aptitude can be tested, but only to a certain extent.

A hiring manager can only do so much due diligence (multiple interviews, testing, reference checks). Work ethic, ability to achieve results, having the skills they claimed, and being a team player are only proven or disproven after a new hire starts. Most of the tension between job seekers and employers results from job seekers expecting employers to pay them “their value” for abilities that they haven’t actually proven. In contrast, an employer’s best interest is to mitigate hiring risks by starting new hires at the low end of their budgeted salary range.

There’re 2 types of candidates:

  1. Unemployed
  2. Employed

 

Those employed should not accept a starting salary less than 20% higher than their current salary. Unless your motivation is other than money, it’s not worth the stress of starting a new job and reproving yourself for your current salary.

On the other hand, if you’re jobless, your income is $0. Unless the compensation offered is insultingly low, I don’t suggest you try and negotiate for the starting salary (WARNING: Brutal truth ahead.) you made up based on what you think of yourself. Financially and emotionally, having no job and, therefore, no income is a worst-case scenario for many.

I know you’re now asking, “But Nick, how will I get the compensation I feel I deserve if I accept what I’m offered?” Whether employed or not, you need to prove your worth, which requires the following:

 

  1. Getting the job (Proving your worth is impossible without a job.), and
  2. Negotiate and get in writing that upon achieving specific metrics, milestones, revenue targets, or whatever else you can think of, within your first six months, you’ll get a 15% salary increase or whatever percentage you feel appropriate.

 

IMPORTANT: I can’t stress enough to be sure your employment offer letter includes everything you and the hiring manager discussed and agreed to.

 

Number two makes it much easier for an employer to say “Yes” to you since they aren’t taking all the risks of hiring you at a salary you want and then finding out you can’t deliver. Offering this option demonstrates you’re confident in your skills and abilities and aren’t afraid to prove them.

 

Who would you choose if you had two more-or-less equally qualified candidates to choose from and one of the candidates offered you the option of proving their worth before getting the salary they feel they deserve?

______________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers advice on searching for a job. You can send Nick your questions at artoffindingwork@gmail.com.

 

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