The Ontario government says its investment of $37.4 million into more than 180 research projects will improve the lives of families across the province.
At Trent University in Peterborough on Thursday, Vic Fedeli, Ontario’s minister of economic development, job creation and trade, announced the funds for 183 research projects at 23 institutions. The money comes from the Ontario Research Fund.
“Ontario is open for business and open for jobs, and research leads to new knowledge that can help our businesses and improve quality of life for our families,” Fedeli said. “Supporting our researchers today is an investment in a bright future of health care advances, new technology, new companies and jobs.”
Trent University will receive $567,089 for four projects, including money to support the purchase of a state-of-the-art laser system for the Slepkov Biophotonics Lab. Dr. Aaron Slepkov’s lab uses high-power laser microscopy to advance knowledge across a broad range of sectors, from advanced manufacturing to studying diseases like osteoporosis to the development of nutrient-rich, plant-based foods.
“Trent University is home to world-class researchers. Having the latest technology will help researchers here in Peterborough contribute to a strong Ontario economy,” said Peterborough-Kawartha MPP Dave Smith.
Other Trent projects receiving funding from the provincial government include lead researcher James Conolly’s Maritime Archaeology Research Infrastructure, the Agricultural Soil Health Laboratory, led by researcher Karen Thompson, and the Centre for Biomedical Research and Biosensing, whose lead researcher is Sanela Martic.
Neil Emery, vice-president of research and innovation at Trent, says the investments are invaluable to universities and scientists who rely on the performance of equipment to deliver “quality scientific results.”
“Trent University is so grateful for the support from the province, which will be helping four researchers in physics, forensics, agriculture and archeology modernize their laboratories to a world-class level, enabling innovations in materials science, biochemistry, soil health enhancement and aquatic environmental assessments,” he said.
“The grants to Trent University also help enhance the learning experience for our student researchers as they gain hands-on experience with new technology that is also used outside of academia.”
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The 183 projects were selected through a competitive peer-review process, according to Fedeli, who said Thursday’s news builds on the nearly $41 million invested in 174 projects announced by the government in September.
A spokesperson for Fedeli’s office tells Global News the other research projects will be announced in the near future.
7:07 Queen’s professors Dr. Mark Chen and Dr. Mark Richardson discuss dark matter
Queen’s professors Dr. Mark Chen and Dr. Mark Richardson discuss dark matter
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
