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Sing Tao, Canada's largest Chinese-language newspaper, to end print edition – CBC.ca

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Canada’s largest Chinese-language newspaper will stop publishing its print edition next month after more than four decades in operation.

The print edition of Sing Tao Daily, which publishes in Toronto, Vancouver and Calgary, will end on Aug. 28, putting 83 people out of work. 

In a statement, Sing Tao Media Group, which is jointly owned by Hong Kong-based Sing Tao News Corp. and Torstar Corp., said it will focus on being “Canada’s leading Chinese news, information and entertainment digital media platform.” 

CEO Calvin Wong says readers, including seniors, are increasingly comfortable getting their news digitally, a trend that was accelerated by the COVID-19 pandemic, which saw people spend more time at home. 

“We found actually that from the senior group of people that about half of them are already very fluent in using a smartphone and tablet,” he said. “So in that sense, I don’t think we will lose that kind of audience.”

The company will continue to publish its magazines, eliteGen and Canadian City Post, with a weekly traditional Chinese lifestyle publication added to the mix.

Sing Tao will be pivoting to a digital model, resulting in 83 job losses. (Sing Tao Media Group)

Carleen Finch, president of Unifor Local 87-M, the union representing 43 of the 83 laid-off Sing Tao workers, says staffers were “completely blindsided” by the move.

“I think to them it was a huge culture shock,” she said. “I think that many of them believed that it would eventually happen but they never thought it happen this early.”

Finch is concerned the end of the print edition will leave some readers behind. 

“I realize the company seems to think that the younger generation are using their phones, but I think there’s still a very large generation out there that like to have that tactile feel of a newspaper and want to find out what’s going on in their local communities,” she said.

Finch says the shuttering of the print edition comes during a challenging time for media.

Bill C-18, which would make tech giants such as Facebook and Google pay for reusing news produced by professional Canadian news organizations, has stalled. 

When it announced Bill C-18, the federal government said the legislation would ensure Canadians have access to quality, fact-based news at a time of rising disinformation and public mistrust.

“We have to as Canadians start to support journalism and local media and make sure that we are following through on making our voices heard,” Finch said. 

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Tesla Increases Model S and Model X Prices Amid Slumping Sales

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Luxury goods tax on super-rich could hit green cars: experts

PALO ALTO, California — In a surprising move, Tesla has increased the prices of its Model S and Model X vehicles by $2,000, despite a significant decline in sales.

The price hike comes at a time when Tesla’s Model S and Model X sales are estimated to have dropped by 31-37% year-over-year. The electric car manufacturer does not disclose individual sales figures for its models, instead bundling all Model S, Model X, Cybertruck, and Tesla Semi deliveries together, making it challenging to assess the performance of each model. Based on delivery estimates for the Cybertruck and Tesla Semi, analysts place the sales of the Model S and Model X at around 12,000-13,000 units for the last quarter.

New Pricing Structure

The updated prices for Tesla’s premium electric vehicles are as follows:

  • Model S Long Range: $74,990
  • Model S Plaid: $89,990
  • Model X Long Range: $79,990
  • Model X Plaid: $94,990

Despite the overall price increase, Tesla has strategically kept the Model X Long Range price under the $80,000 threshold, ensuring it remains eligible for the federal tax credit. This move appears aimed at maintaining the model’s competitiveness by leveraging the federal incentive.

The price increase could be interpreted as a response to rising production costs or an attempt to maintain premium brand positioning amidst declining sales figures. However, this strategy carries risks, particularly if potential buyers are sensitive to price changes.

Industry observers are divided on the potential impact of this pricing strategy. Some believe the increase could alienate price-sensitive customers, further exacerbating the sales decline. Others argue that the price adjustment might be offset by improvements in production efficiency or upcoming enhancements to the models.

Tesla’s decision not to break down sales by individual models has drawn criticism, as it obscures the performance of each vehicle line. This lack of transparency makes it difficult for investors and industry analysts to gauge the health of Tesla’s product lineup accurately.

As Tesla navigates these turbulent times, the recent price increase of its Model S and Model X vehicles raises questions about the company’s broader strategy and market positioning. While the long-term effects of this decision remain to be seen, it is clear that Tesla is taking bold steps in response to the evolving automotive market landscape.

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S&P/TSX composite index up over 100 points Monday morning, U.S. markets also rise

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TORONTO – Gains in the financial and industrial sectors led Canada’s main stock index higher in late-morning trading on Monday, while U.S. stock markets also rose.

The S&P/TSX composite index was up 126.25 points at 22,816.64.

In New York, the Dow Jones industrial average was up 88.24 points at 40,375.77. The S&P 500 index was up 39.17 points at 5,544.17, while the Nasdaq composite was up 168.11 points at 17,895.05.

The Canadian dollar traded for 72.70 cents US compared with 72.85 cents US on Friday.

The September crude oil contract was down 24 cents at US$78.40 per barrel and the August natural gas contract was up 10 cents at US$2.26 per mmBTU.

The August gold contract was down US$8.70 at US$2,390.40an ounce and the September copper contract was down six cents at US$4.18 a pound.

This report by The Canadian Press was first published July 22, 2024.

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

The Canadian Press. All rights reserved.



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5 Life-Transforming Tips to Make it More Fun-Filled

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Everyone wants to make the most out of life. From personal life to establishing a successful career, enjoyment is all that people crave the most. But the key to happiness is having fun most of the time. It can be challenging to find time and moments of fun in the routine as life becomes boring and dull for many.

However, you can cultivate your mindset and embrace more pleasure and laughter in your everyday routine. To transform your boring and dull life into a fun-filled one, here are a few tips that you can consider in this blog.

Read on to explore!

 

1.    Start Enjoying Little Moments

The fun doesn’t need to come from an extensive and spectacular event happening around your life all the time. There are so many small moments in your life that can turn into more fun. All you have to do is embrace those little times in your life and be happy.

For example, you can give yourself a little break from a hectic day and enjoy some chocolate. Or you can make time to enjoy things that you like.

 

2.    Be Spontaneous In Life

Just like life becomes unexpected most of the time, you can be a little unpredictable with it as well. To bring fun to your life, you can work on being more open to new and unplanned experiences.

If you get an invitation for any activity, event, or sport, don’t say no to it. Getting to indulge in more social activities will help you create new memories and experience new thrills in life.

 

3.    Bring a Furry Friend in Life

A boring life can easily distance you from fun. To embrace joy in life, having a furry company can do wonders. You can cherish love and warmth and have little moments of joy with a furry one.

If you don’t have a furry companion, you’re majorly missing joy. It’s time for you to look for the best puppy-selling company, such as Fou Fou Puppie’s website, to bring a cute puppy into your life.

 

4.    Practice Mindfulness

Practicing mindfulness will help you to live the present to the fullest. As most people worry more about their future, it makes them overlook the current joys of life.

What you can consider best to bring fun to your life is practicing mindfulness for at least 2 minutes. Let go of all the thoughts that pop into your head and focus on the positive aspects of living.

 

5.    Participate More in Fun Activities

There should be no excuse for having fun in life as there are many low-cost fun activities for the community that you can explore to have fun. It can be simple, but it prevents you from living a boring and less-inspiring life.

For example, you can call your group of friends to have coffee together and share more laughter, or you can go to the movies to unwind yourself. These activities will not cost you a fortune and allow you to make the most out of your day, week, and month.

 

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