Wed, April 24, 2024 at 9:35 AM EDT
Business
Nova Scotia reports one new COVID-19 case Friday, active cases drop to nine – CTV News Atlantic
HALIFAX —
Nova Scotia is reporting one new case of COVID-19 on Friday, along with two recoveries, as the number of active cases in the province drops to nine.
The new case was identified in the province’s Central zone and is under investigation.
Public Health says it is closely monitoring all four health zones for community spread.
There have been 5,887 cumulative COVID-19 cases in Nova Scotia. Of those, 5,785 people have recovered, and 93 have died due to COVID-19.
There are currently one person in hospital, in an intensive care unit, due to COVID-19 in Nova Scotia.
Nova Scotia labs processed 2,964 tests on Thursday, and have now processed a total of 1,027,936 since the start of the pandemic.
There were 3,364 tests administered between July 23 and 30 at rapid-testing pop-up sites in Halifax, Dartmouth, Cole Harbour, Bedford, Hubbards, Spryfield and Brooklyn, Hants County.
Since April 1, there have been 4,145 positive COVID-19 cases and 27 deaths. Of the new cases since April 1, 4,109 are now considered resolved.
There are cases confirmed across the province, but most have been identified in the Central zone, which contains the Halifax Regional Municipality.
The provincial government says cumulative cases by zone may change as data is updated in Panorama, the province’s electronic information system.
The numbers reflect where a person lives and not where their sample was collected.
- Western zone: 293 cases (no active cases)
- Central zone: 4,669 cases (seven active cases)
- Northern zone: 301 cases (no active cases)
- Eastern zone: 624 cases (two active cases)
The provincial state of emergency, which was first declared on March 22, 2020, has been extended to August 8, 2021.
VACCINE UPDATE
The province’s COVID-19 online dashboard provides an update on the number of vaccines that have been administered to date.
As of Wednesday, 1,345,401 doses of the COVID-19 vaccine have been administered, with approximately 76 per cent of the province’s overall population having received at least one dose. Of those, 606,975, or 62.5 per cent of Nova Scotians have received their second dose.
The province says it has received a total of 1,509,410 doses of COVID-19 vaccine since Dec. 15.
All Nova Scotians are encouraged to get vaccinated against COVID-19 as soon as they are eligible. COVID-19 vaccination appointments can be made online or by phone at 1-833-797-7772.
BREAKTHROUGH DATA
There have been 4,200 cases of COVID-19 from March 15 to July 27, 2021. Of those:
- 28 (0.7 per cent) were fully vaccinated
- 235 (5.6 per cent) were partially vaccinated
- 3,937 (93.7 per cent) were unvaccinated
There were 254 people hospitalized. Of those:
- 2 (0.8 per cent) were fully vaccinated
- 28 (11 per cent) were partially vaccinated
- 224 (88.2 per cent) were unvaccinated
Twenty-seven people died. Of those:
- 1 (3.8 per cent) was fully vaccinated
- 3 (11.5 per cent) were partially vaccinated
- 23 (85.2 per cent) were unvaccinated
MORE WALK-IN TESTING OPTIONS
Nova Scotia Health is introducting several new walk-in testing centres and mobile units across the province.
Testing is open to anyone and can be convenient for out-of-province visitors arriving in Nova Scotia, public health said in a release.
A list of locations offering walk-in PCR COVID-19 testing in addition to testing by appointment can be found on the health authority’s website. Rapid tests will not be offered at these locations.
Testing is available for all ages, for those who have symptoms, no symptoms (asymptomatic), have travelled or been to a potential exposure site and have been a close contact with a positive COVID case.
Public health is strongly encouraging Nova Scotians to seek asymptomatic COVID-19 testing, particularly if they have had several social interactions, even with their own social circle.
COVID-19 tests can be booked through the province’s online self-assessment COVID-19 tool, or by calling 811.
People can also visit one of Nova Scotia’s rapid pop-up testing sites that continue to operate throughout the province.
Friday, July 30:
- Centennial Arena (27 Vimy Ave., Halifax) from 3 p.m. to 8 p.m.
- The Royal Canadian Legion Branch 160, Cole Harbour (703 Main St, Dartmouth) from 11:30 a.m. to 7 p.m.
- Brooklyn Volunteer Fire Department (995 NS-215, Newport) from 11:30 a.m. to 7 p.m.
- Halifax Convention Centre (1650 Argyle St, Halifax) from noon to 7 p.m.
- Dartmouth Summer Sunshine Concert Series (94 Alderney Drive, Dartmouth) from 6 to 8 p.m.
COVID ALERT APP
Canada’s COVID-19 Alert app is available in Nova Scotia.
The app, which can be downloaded through the Apple App Store or Google Play, notifies users if they may have been exposed to someone who has tested positive for COVID-19.
LIST OF SYMPTOMS
Anyone who experiences a fever or new or worsening cough, or two or more of the following new or worsening symptoms, is encouraged to take an online test or call 811 to determine if they need to be tested for COVID-19:
- Sore throat
- Headache
- Shortness of breath
- Runny nose/nasal congestion
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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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