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The Moderna vaccine has been approved. Here's what that means for New Brunswickers – CBC.ca
The Moderna COVID-19 vaccine has been approved for use in Canada, with 168,000 doses expected to arrive by the end of the year.
Health Canada announced the approval Wednesday in a notice authorizing its use for people over the age of 18.
So what does that mean for New Brunswick?
When can we expect the Moderna vaccine here, and who will get it?
In an interview with CBC News on Wednesday, Dr. Jennifer Russell, the chief medical officer of health, provided some insight on these and other questions.
Here are some highlights of the interview, which has been edited for length and clarity.
Q: When will the first doses of the Moderna vaccine arrive in New Brunswick?
JR: My understanding is that we will receive it early next week, around the 28th or 29th of December.
Q: How many doses are we getting in that shipment?
JR: We have about 2,400 doses. Half of them will go to long-term-care facility residents, and the remaining doses will be held back so that we can re-vaccinate that group a month from now, because this vaccine still requires two doses to provide immunity protection.
Q: So you’re sticking with the same criteria for who is considered priority?
JR: Yes, absolutely. Our first three months of the vaccination rollout will include that first priority group.
Q: Where will you begin rollout of the Moderna vaccine?
JR: The advantage of Moderna is that instead of needing to be held at –80 degrees (like the Pzifer BioNTech vaccine), it’s held at –20. So that changes where we can distribute it because the availability of ultra-low-temperature freezers is not as much of a factor.
Q: What determines whether a person gets the Pfizer-BioNTech vaccine or the Moderna vaccine?
JR: There’s an extensive planning process, because we’re not planning for next week and the week after, we’re planning from now until September. There’s a framework, a template with all the expected doses of different types of vaccines and the rollout of each specific one.
Q: Are the vaccines different in such a way that they would suit a certain person or group over another?
JR: Of the seven vaccines that we expect to be approved by Health Canada, each have different profiles in terms of efficacy, in terms of side-effects, and adverse events. So that is taken into account when we’re looking at the different priority groups and rolling this out.
Q: How will the rollout change over time?
JR: As we get further down the list of the seen vaccines, we will be getting the later vaccines in much larger quantities. So when we look at doing the larger population that don’t fall into any of those priority groups, the rollout will be more like a flu vaccine campaign, with many, many, many different providers involved in a short period of time.
Q: Will patients be able to choose when they get their vaccine?
JR: When you get the invitation, if there’s a scheduling issue or if, for whatever reason, you choose to wait, you certainly can. Again, because this rollout is going to happen over the next nine months, there will be other opportunities for people to get vaccinated.
Q: Are there any disadvantages to Moderna, anything you’re concerned about?
JR: Not based on the data we’ve received from the National Advisory Committee on Immunizations and from my meetings with colleagues across the country. But both Moderna and Pfizer are a new type of technology. These are MRNA vaccines, we haven’t used these before. So along with the other vaccines that are coming along, we do want to make sure that we capture the information about any side-effects or adverse effects.
Q: How will that be done?
JR: You can find the data on the Heath Canada or the Public Health Agency of Canada website around all the different vaccines, the types of reactions, the percentage of people who get them, and that information (about the new vaccines) is going to be captured. Obviously, it’s very important to have this information accessible across the country, so if we do need to make any kinds of adjustments with the rollout, we can.
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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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
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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.
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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