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Ontario Makes Historic Investment in Public Education – Government of Ontario News

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Every School Board to Receive Funding Increase to Ensure Student Success

TORONTO – Today, the Ontario government announced that it is investing $736 million more in public education for the 2020-21 school year, increasing the total to more than $25.5 billion. This funding, through the Grants for Student Needs (GSN) program, represents the largest investment in public education in Ontario’s history. As a result, Ontario’s average per-pupil funding amount has reached $12,525, which is an increase of $250 over the previous year.

“We are investing more in our students to ensure they are safe, and well prepared to hit the books beginning in September,” said Stephen Lecce, Minister of Education. “As we review all scenarios related to the COVID-19 outbreak, our government is supporting each and every school board in the province to ensure our students and educators have the resources available for a successful year.”

All 72 district school boards in the province are projected to have increases to their GSN allocations for the upcoming school year, which includes record-high investments in special education, mental health and well-being, among many other key areas.

Under the GSN, the new $213 million student-centric Supports for Students Fund (SSF) will support:

  • special education,
  • mental health and well-being,
  • language instruction,
  • Indigenous education, and
  • STEM programming.

“We are investing in new supports for marginalized and racialized students to give hope and confidence to their families that we will work to unlock their full potential and remove the barriers to their success,” said Minister Lecce.

The Supports for Students Fund can also be used for additional critical staffing needs during the return to school in September, including hiring custodians and education assistants for students who need support.

In addition to the GSN, Ontario is providing funding for the Priorities and Partnerships Fund (PPF), which enables school boards and third-parties to undertake important initiatives and provide critical resources for curricular, extra-curricular, and wrap-around supports. In the upcoming school year, the PPF is projected to be over $300 million, funding approximately 150 initiatives to support students.

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“LDAO is delighted to continue our partnership with the Ministry of Education to put resources into the hands of Ontario Educators. For many years we have said, Learning Disabilities are complicated, but helping isn’t. Educators in every board will continue to get access to free evidence-based resources thanks to this continued funding. Ultimately, this partnership is enhancing the support for and success of students with LDs across the province.” – Lawrence Barns, President and CEO, Learning Disabilities Association of Ontario 

“We are pleased to partner with the Ontario government in their commitment to STEM education. This investment will have a significant impact on the lives of students across the province and provide the necessary resources to ensure every student has access to valuable STEM programs like Shad.” – Tim Jackson, CEO, Shad Canada

“We very much appreciate the ongoing support of the Ontario Ministry of Education. This will allow us to bring free literacy and numeracy programs to students throughout the province – now more crucial than ever before – and to provide critical support to children and youth across the north and in Indigenous communities. This will also fund literacy training and information to hundreds of parents and community workers throughout Ontario.” – Stephen Faul, President and CEO, Frontier College

“Le Centre franco is happy to be a privileged partner for the Ministry of Education and the French School Boards of Ontario. Our team immediately mobilized itself to answer the call from the start of the emergency order to offer students and families resources and services of the utmost quality financed by the Ministry of Education of Ontario.” – Claude Deschamps, Chief Executive Officer, Director General, Le Centre franco-ontarien de ressources pédagogiques

“Each year, TVO Mathify helps thousands of Ontario grade 6-10 students understand the math concepts that are so important to achieving success in today’s world. This investment allows TVO to continue meeting the growing demand for Mathify’s free online tutoring service, and represents a tangible commitment from the government to improving math scores across the province.” – Jennifer Hinshelwood, Acting Chief Operating Officer, TVO

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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