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Sneeze guards and shower curtains? Probably not in Canada as restaurants reopen, experts say – CBC.ca

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Sit down for a meal at restaurants around the world right now, and your table could feature anything from shower curtains pulled round your party at an Ohio cafe to clear plastic sneeze guards separating diners in restaurants from Hong Kong to Rome.

In a field in Sweden, you’ll find a basket-and-pulley setup rigged to ferry food to a table for one, provided you book well in advance.

Around the world, restaurant owners are coming up with their own ways to do business in the midst of a pandemic that’s thrown their industry on its head.

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But with restrictions still in place across Canada, some restaurateurs say the reopening reality closer to home is likely to look more familiar — just with diners a lot farther apart — as restaurants focus capital on simply keeping the lights on.

“How it’s going to look? It’s going to look empty,” said Tony Siwicki, owner of Silver Heights Restaurant in Winnipeg and interim chairperson for the Manitoba Restaurant and Foods Association.

“It’s going to be very spacious. It’s going to be comical. People are going to be laughing at this scenario — but they’re going to understand.”

The COVID-19 pandemic has hit the restaurant industry hard. Statistics Canada says the accommodation and food services sector shrank by almost a quarter in March and dropped again by nearly 10 per cent in April. Across sectors, some of the hardest hit have been small businesses.

“We could see anywhere from 10 to 30 per cent of restaurants simply disappear,” said James Rilett, vice-president of the central Canada region with Restaurants Canada.

“When we look at independent restaurants, about 50 per cent of them had doubts whether they’d be able to reopen.”

In Manitoba, some restaurants have already announced permanent closures, while others worry about how they’ll get by.

Some restaurant patios are open now, in keeping with rules under the province’s plan to reopen the economy. Indoor dining rooms can’t open until June 1 at the earliest, but that date and the rules surrounding it remain subject to change.

Despite the uncertainty, Siwicki said he wouldn’t be surprised to see creative solutions emerge locally.

“There’s really not too much out there yet,” he said. “But I think, June 1, you’re going to see a lot of new ways [and asking,] ‘Why didn’t I think about that?'”

Spaced-out dining rooms, more staff cleaning

Rilett is skeptical about seeing widespread use in Canada of changes like tableside sneeze guards or extra walls, because those interventions cost money and space, he said.

Instead, he said diners should expect to see different table layouts when they return to their favourite spots — and the floorplan of individual dining rooms could have a big impact on how those restaurants bounce back.

Manitoba guidelines indicate restaurants will have to cut back dining room occupancy by 50 per cent. But requirements for physical distancing between everyone inside the building could limit occupancy even further, Rilett said.

“Even if I do have a lot of floor space, if that’s long and thin, by the time you get a corridor for staff and patrons to walk through it might take out more than half your tables,” he said.

Stepped-up requirements for sanitation may also mean you’ll see more staff in roles like hosting, Siwicki said. 

Where a restaurant may have had one host seating people and wiping tables and menus down between guests, they may now need two or three, he said. He’s expecting to see more staff involved in explaining sanitation processes to customers, too.

“There’s going to be a lot of labour going out, just to make sure that that’s happening properly,” he said.

‘So much uncertainty’

In small restaurants, Rilett says the rules may hit harder. The same size constraints that previously created a feeling of coziness and intimacy or a friendly hustle-and-bustle could work against restaurants during a pandemic.

“A lot of our original concept was high-quality food, in a very intimate dinner environment,” said Cam Chabot, co-owner of Winnipeg’s Close Co. The restaurant on Stafford Street has a footprint of fewer than 400 square feet.

“That is not what people will be looking for in the near future, and nor do we want to put anyone in that position.”

After closing its dining room, Close Co. adapted by pivoting to offer takeout. Now, Chabot and other owners are trying to figure out if they can afford to stay where they are in the face of unchanging overhead obligations and reduced capacity.

“There’s so much uncertainty there. The easy thing to do would be to shut down,” he said. 

“We’re still in the feeling-out phase of whether this is even viable. And I know for a lot of restaurants, it’s just not going to be.”

Lucien Joyal, general manager and co-owner of The Oxbow Natural Wine Bar and Restaurant in Winnipeg, said he’s expecting to see a heightened awareness from diners about how close they are to each other and staff.

The South Osborne restaurant closed in March ahead of provincial orders. Summer months there are usually slower, Joyal said, since they don’t have a patio. Owners are expecting not to reopen until late summer or fall.

“I think what we’re definitely expecting to see is … a shift in the diners’ consciousness, in terms of how they perceive things like distance between tables or distance between you and your server,” he said.

“The way they see things like, you know, hand-washing and, you know, use of shared bathrooms and even things like menus.… A lot of places are going to switch to using laminated menus or using paper menus that are disposed of after each use.”

‘All we can do is adapt’

There’s no timeline for when the pandemic, or any impact it has on public habits, will fade. As the economy reopens, Rilett said Manitoba may be well-served by what he sees as a relatively stronger culture of supporting local.

“If anything positive comes out of this, if it’s a better link between the producer and the restaurants, then that’d definitely be a good thing.”

At the local level, Joyal said he sees resilience and creativity in the industry around him.

“Small restaurants and small businesses pride themselves on their adaptability. That really is kind of the name of the game,” he said.

“It’s difficult for us to speculate on how people’s perception and how people’s awareness is going to change over time. So from our end, all we can do is adapt as we go.”

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Tesla Promises Cheap EVs by 2025 | OilPrice.com – OilPrice.com

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Tesla Promises Cheap EVs by 2025 | OilPrice.com



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Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

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Tesla has promised to start selling cheaper models next year, days after a Reuters report revealed that the company had shelved its plans for an all-new Tesla that would cost only $25,000.

The news that Tesla was scrapping the Model 2 came amid a drop in sales and profits, and a decision to slash a tenth of the company’s global workforce. Reuters also noted increased competition from Chinese EV makers.

Tesla’s deliveries slumped in the first quarter for the first annual drop since the start of the pandemic in 2020, missing analyst forecasts by a mile in a sign that even price cuts haven’t been able to stave off an increasingly heated competition on the EV market.

Profits dropped by 50%, disappointing investors and leading to a slump in the company’s share prices, which made any good news urgently needed. Tesla delivered: it said it would bring forward the date for the release of new, lower-cost models. These would be produced on its existing platform and rolled out in the second half of 2025, per the BBC.

Reuters cited the company as warning that this change of plans could “result in achieving less cost reduction than previously expected,” however. This suggests the price tag of the new models is unlikely to be as small as the $25,000 promised for the Model 2.

The decision is based on a substantially reduced risk appetite in Tesla’s management, likely affected by the recent financial results and the intensifying competition with Chinese EV makers. Shelving the Model 2 and opting instead for cars to be produced on existing manufacturing lines is the safer move in these “uncertain times”, per the company.

Tesla is also cutting prices, as many other EV makers are doing amid a palpable decline in sales in key markets such as Europe, where the phaseout of subsidies has hit demand for EVs seriously. The cut is of about $2,000 on all models that Tesla currently sells.

By Charles Kennedy for Oilprice.com

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Why the Bank of Canada decided to hold interest rates in April – Financial Post

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Divisions within the Bank of Canada over the timing of a much-anticipated cut to its key overnight interest rate stem from concerns of some members of the central bank’s governing council that progress on taming inflation could stall in the face of stronger domestic demand — or even pick up again in the event of “new surprises.”

“Some members emphasized that, with the economy performing well, the risk had diminished that restrictive monetary policy would slow the economy more than necessary to return inflation to target,” according to a summary of deliberations for the April 10 rate decision that were published Wednesday. “They felt more reassurance was needed to reduce the risk that the downward progress on core inflation would stall, and to avoid jeopardizing the progress made thus far.”

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Others argued that there were additional risks from keeping monetary policy too tight in light of progress already made to tame inflation, which had come down “significantly” across most goods and services.

Some pointed out that the distribution of inflation rates across components of the consumer price index had approached normal, despite outsized price increases and decreases in certain components.

“Coupled with indicators that the economy was in excess supply and with a base case projection showing the output gap starting to close only next year, they felt there was a risk of keeping monetary policy more restrictive than needed.”

In the end, though, the central bankers agreed to hold the rate at five per cent because inflation remained too high and there were still upside risks to the outlook, albeit “less acute” than in the past couple of years.

Despite the “diversity of views” about when conditions will warrant cutting the interest rate, central bank officials agreed that monetary policy easing would probably be gradual, given risks to the outlook and the slow path for returning inflation to target, according to the summary of deliberations.

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They considered a number of potential risks to the outlook for economic growth and inflation, including housing and immigration, according to summary of deliberations.

The central bankers discussed the risk that housing market activity could accelerate and further boost shelter prices and acknowledged that easing monetary policy could increase the likelihood of this risk materializing. They concluded that their focus on measures such as CPI-trim, which strips out extreme movements in price changes, allowed them to effectively look through mortgage interest costs while capturing other shelter prices such as rent that are more reflective of supply and demand in housing.

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They also agreed to keep a close eye on immigration in the coming quarters due to uncertainty around recent announcements by the federal government.

“The projection incorporated continued strong population growth in the first half of 2024 followed by much softer growth, in line with the federal government’s target for reducing the share of non-permanent residents,” the summary said. “But details of how these plans will be implemented had not been announced. Governing council recognized that there was some uncertainty about future population growth and agreed it would be important to update the population forecast each quarter.”

• Email: bshecter@nationalpost.com

Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.

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Meta shares sink after it reveals spending plans – BBC.com

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Woman looks at phone in front of Facebook image - stock shot.

Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings.

The Facebook and Instagram owner said expenses would be higher this year as it spends heavily on artificial intelligence (AI).

Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024.

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Meta has been updating its ad-buying products with AI tools to boost earnings growth.

It has also been introducing more AI features on its social media platforms such as chat assistants.

The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.

Its shares fell despite it beating expectations on its earnings.

First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.

Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said its spending plans were “aggressive”.

She said Meta’s “substantial investment” in AI has helped it get people to spend time on its platforms, so advertisers are willing to spend more money “in a time when digital advertising uncertainty remains rife”.

More than 50 countries are due to have elections this year, she said, “which hugely increases uncertainty” and can spook advertisers.

She added that Meta’s “fortunes are probably also being bolstered by TikTok’s uncertain future in the US”.

Meta’s rival has said it will fight an “unconstitutional” law that could result in TikTok being sold or banned in the US.

President Biden has signed into law a bill which gives the social media platform’s Chinese owner, ByteDance, nine months to sell off the app or it will be blocked in the US.

Ms Lund-Yates said that “looking further ahead, the biggest risk [for Meta] remains regulatory”.

Last year, Meta was fined €1.2bn (£1bn) by Ireland’s data authorities for mishandling people’s data when transferring it between Europe and the US.

And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.

Ms Lund-Yates added that the firm has “more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment”.

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