News
What you need to know about the coronavirus right now
|
(Reuters) – Here’s what you need to know about the coronavirus right now:
Airborne transmission
Hundreds of scientists say there is evidence that the novel coronavirus in smaller particles in the air can infect people and they are calling for the World Health Organization (WHO) to revise its recommendations, the New York Times reported on Saturday.
However, the health agency said the evidence for the virus being airborne was not convincing, according to the NYT.
“Especially in the last couple of months, we have been stating several times that we consider airborne transmission as possible but certainly not supported by solid or even clear evidence,” Dr Benedetta Allegranzi, the WHO’s technical lead of infection prevention and control, was quoted as saying.
World’s third-highest
India now has the world’s third-highest number of novel coronavirus cases behind Brazil and the United States, at nearly 700,000, according to the latest data, as the outbreak shows no sign of slowing.
India has seen eight times the number of cases as China, which has a similar-sized population and is where the virus originated late last year.
Late on Sunday, India cancelled the planned reopening of the Taj Mahal, citing the risk of coronavirus infections spreading in the city of Agra from visitors flocking to see India’s most famous monument.
Agra, site of one of India’s first big clusters of the virus, remains the worst-affected city in Uttar Pradesh, the country’s most populous state.
Not since the Spanish flu
Officials are closing the border between Australia’s two most populous states from Tuesday for an indefinite period as they scramble to contain an outbreak of the coronavirus in the city of Melbourne.
The decision marks the first time the border between Victoria and New South Wales has been shut in 100 years. Officials last blocked movement between the two states in 1919 during the Spanish flu pandemic. Victoria’s only other internal border, with South Australia state, is already closed.
The number of COVID-19 cases in Melbourne, Victoria’s capital, has surged in recent days, prompting authorities to enforce strict social-distancing orders in 30 suburbs and put nine public housing towers into complete lockdown.
Hydroxychloroquine and HIV drugs off the table
The WHO said on Saturday that it was discontinuing its trials of the malaria drug hydroxychloroquine and combination HIV drug lopinavir/ritonavir in hospitalised patients with COVID-19 after they failed to reduce mortality.
The setback came as the WHO also reported more than 200,000 new cases globally of the disease for the first time in a single day.
The U.N. agency said the decision, taken on the recommendation of the trial’s international steering committee, does not affect other studies where those drugs are used for non-hospitalised patients or as a prophylaxis.
Kicking in place
Soccer-mad Argentines in the farmbelt city of Pergamino have devised a clever way to keep playing while avoiding risk of spreading COVID-19: a human foosball pitch with zones for each player to avoid physical contact.
The game, known as “metegol humano” divides the pitch into rectangular zones with white lines limiting where a player can move – helping to enforce social distancing, though limiting slide tackles or pitch-length dribbles with the ball.
Two teams of five players – a goalkeeper, a defender, a midfielder and two forwards – can take part, said Gustavo Cuiffo, a creator of the project.
Seen from above, the demarcated court resembles a large foosball table – though with real people and no swivel handles.
“It is the first time I have kicked in several months,” said Gustavo Santapaola, who took part in a match at the Play Fútbol ground. “I honestly tell you, I am excited.”
(Compiled by Karishma Singh; Editing by Robert Birsel)
News
Canada Child Benefit payment on Friday | CTV News – CTV News Toronto
More money will land in the pockets of Canadian families on Friday for the latest Canada Child Benefit (CCB) installment.
The federal government program helps low and middle-income families struggling with the soaring cost of raising a child.
Canadian citizens, permanent residents, or refugees who are the primary caregivers for children under 18 years old are eligible for the program, introduced in 2016.
The non-taxable monthly payments are based on a family’s net income and how many children they have. Families that have an adjusted net income under $34,863 will receive the maximum amount per child.
For a child under six years old, an applicant can annually receive up to $7,437 per child, and up to $6,275 per child for kids between the ages of six through 17.
That translates to up to $619.75 per month for the younger cohort and $522.91 per month for the older group.
The benefit is recalculated every July and most recently increased 6.3 per cent in order to adjust to the rate of inflation, and cost of living.
To apply, an applicant can submit through a child’s birth registration, complete an online form or mail in an application to a tax centre.
The next payment date will take place on May 17.
News
Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain – CBC.ca
A chorus of Canadian entrepreneurs and investors is blasting the federal government’s budget for expanding a tax on the rich. They say it will lead to brain drain and further degrade Canada’s already poor productivity.
In the 2024 budget unveiled Tuesday, Finance Minister Chrystia Freeland said the government would increase the inclusion rate of the capital gains tax from 50 per cent to 67 per cent for businesses and trusts, generating an estimated $19 billion in new revenue.
Capital gains are the profits that individuals or businesses make from selling an asset — like a stock or a second home. Individuals are subject to the new changes on any profits over $250,000.
The government estimates that the changes would impact 40,000 individuals (or 0.13 per cent of Canadians in any given year) and 307,000 companies in Canada.
However, some members of the business community say that expanding the taxable amount will devastate productivity, investment and entrepreneurship in Canada, and might even compel some of the country’s talent and startups to take their business elsewhere.
Benjamin Bergen, president of the Council of Canadian Innovators (CCI), said the capital gains tax has overshadowed parts of the federal budget that the business community would otherwise be excited about.
“There were definitely some other stars in the budget that were interesting,” he said. “However, the … capital gains piece really is the sun, and it’s daylight. So this is really the only thing that innovators can see.”
The CCI has written and is circulating an open letter signed by more than 1,000 people in the Canadian business community to Trudeau’s government asking it to scrap the tax change.
Shopify CEO Tobi Lütke and president Harley Finkelstein also weighed in on the proposed hike on X, formerly known as Twitter.
We need to be doing everything we can to turn Canada into the best place for entrepreneurs to build 🇨🇦<br><br>What’s proposed in the federal budget will do the complete opposite. Innovators and entrepreneurs will suffer and their success will be penalized — this is not a wealth tax,…
—@harleyf
Former finance minister Bill Morneau said his successor’s budget disincentivizes businesses from investing in the country’s innovation sector: “It’s probably very troubling for many investors.”
Canada’s productivity — a measure that compares economic output to hours worked — has been relatively poor for decades. It underperforms against the OECD average and against several other G7 countries, including the U.S., Germany, U.K. and Japan, on the measure.
Bank of Canada senior deputy governor Carolyn Rogers sounded the alarm on Canada’s lagging productivity in a speech last month, saying the country’s need to increase the rate had reached emergency levels, following one of the weakest years for the economy in recent memory.
The government said it was proposing the tax change to make life more affordable for younger generations and fund efforts to boost housing supply — and that it would support productivity growth.
A challenge for investors, founders and workers
The change could have a chilling effect for several reasons, with companies already struggling to access funding in a high interest rate environment, said Bergen.
He questioned whether investors will want to fund Canadian companies if the government’s taxation policies make it difficult for those firms to grow — and whether founders might just pack up.
The expanded inclusion rate “is just one of the other potential concerns that firms are going to have as they’re looking to grow their companies.”
He said the rejigged tax is also an affront to high-skilled workers from low-innovation sectors who might have taken the risk of joining a startup for the opportunity, even taking a lower wage on the chance that a firm’s stock options grow in value.
But Lindsay Tedds, an associate economics professor at the University of Calgary, said the tax change is one of the most misunderstood parts of the federal budget — and that its impact on the country’s talent has been overstated.
“This is not a major innovation-biting tax change treatment,” Tedds said. “In fact, when you talk to real grassroots entrepreneurs that are setting up businesses, tax rates do not come into their decision.”
As for productivity, Tedds said Canadians might see improvements in the long run “to the degree that some of our productivity problems are driven by stresses like housing affordability, access to child care, things like that.”
‘One foot on the gas, one foot on the brake’
Some say the government is sending mixed messages to entrepreneurs by touting tailored tax breaks — like the Canada Entrepreneurs’ Incentive, which reduces the capital gains inclusion rate to 33 per cent on a lifetime maximum of $2 million — while introducing measures they say would dampen investment and innovation.
“They seem to have one foot on the gas, one foot on the brake on the very same file,” said Dan Kelly, president of the Canadian Federation of Independent Business.
A founder may be able to sell their successful company with a lower capital gains treatment than otherwise possible, he said.
“At the same time, though, big chunks of it may be subject to a higher rate of capital gains inclusion.”
Selling a company can fund an individual’s retirement, he said, which is why it’s one of the first things founders consider when they think about capital gains.
Mainstreet NS7:03Ottawa is proposing a hike to capital gains tax. What does that mean?
Dennis Darby, president and CEO of Canadian Manufacturers & Exporters, says he was disappointed by the change — and that it sends the wrong message to Canadian industries like his own.
He wants to see the government commit to more tax credit proposals like the Canada Carbon Rebate for Small Businesses, which he said would incentivize business owners to stay and help make Canada competitive with the U.S.
“We’ve had a lot of difficulties attracting investment over the years. I don’t think this will make it any better.”
Tech titan says change will only impact richest of the rich
Toronto tech entrepreneur Ali Asaria will be one of those subject to the expanded capital gains inclusion rate — but he says it’s only fair.
“It’s going to really affect the richest of the rich people,” Asaria, CEO of open source platform Transformer Lab and founder of well.ca, told CBC News.
“The capital gains exemption is probably the largest tax break that I’ve ever received in my life,” he said. “So I know a lot about what that benefit can look like, but I’ve also always felt like it was probably one of the most unfair parts of the tax code today.”
While Asaria said Canada needs to continue encouraging talent to take risks and build companies in the country, taxation policies aren’t the most major problem.
“I think that the biggest central issue to the reason why people will leave Canada is bigger issues, like housing,” he said.
“How do we make it easier to live in Canada so that we can all invest in ourselves and invest in our companies? That’s a more important question than, ‘How do we help the top 0.13 per cent of Canadians make more money?'”
News
Canada Child Benefit payment on Friday | CTV News – CTV News Toronto
More money will land in the pockets of Canadian families on Friday for the latest Canada Child Benefit (CCB) installment.
The federal government program helps low and middle-income families struggling with the soaring cost of raising a child.
Canadian citizens, permanent residents, or refugees who are the primary caregivers for children under 18 years old are eligible for the program, introduced in 2016.
The non-taxable monthly payments are based on a family’s net income and how many children they have. Families that have an adjusted net income under $34,863 will receive the maximum amount per child.
For a child under six years old, an applicant can annually receive up to $7,437 per child, and up to $6,275 per child for kids between the ages of six through 17.
That translates to up to $619.75 per month for the younger cohort and $522.91 per month for the older group.
The benefit is recalculated every July and most recently increased 6.3 per cent in order to adjust to the rate of inflation, and cost of living.
To apply, an applicant can submit through a child’s birth registration, complete an online form or mail in an application to a tax centre.
The next payment date will take place on May 17.
-
Media19 hours ago
DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. – Barron's
-
Media21 hours ago
Trump Media alerts Nasdaq to potential market manipulation from 'naked' short selling of DJT stock – CNBC
-
Investment20 hours ago
Private equity gears up for potential National Football League investments – Financial Times
-
Real eState12 hours ago
Botched home sale costs Winnipeg man his right to sell real estate in Manitoba – CBC.ca
-
News18 hours ago
Canada Child Benefit payment on Friday | CTV News – CTV News Toronto
-
Business20 hours ago
Gas prices see 'largest single-day jump since early 2022': En-Pro International – Yahoo Canada Finance
-
Art23 hours ago
Enter the uncanny valley: New exhibition mixes AI and art photography – Euronews
-
Business12 hours ago
Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin's Fourth Halving Arrives – Investor's Business Daily