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Tuesday, October 31, 2023

Hamas hostage videos are cruel, manipulative, revealing. Experts expect more. - The Washington Post

JERUSALEM — The latest hostage video released by Hamas is disturbing, manipulative and revealing. Three women sit on cheap plastic chairs pushed against a tiled wall, somewhere in Gaza. It looks like a waiting room for some fearful appointment.

Are they underground, in the militants’ vast tunnel network? Unclear. There’s an electrical outlet. The lighting is bright. The captives are dressed in clean clothes. They appear uninjured, physically at least.

The woman in the center, Danielle Aloni, 44, speaks directly to the camera. She begins, “Hello, Bibi Netanyahu, we are in captivity, in Hamas captivity, 23 — how many days? — 23 days … ”

This helps establish when the video was made — or when their captors planned to release it, on Monday. In the short clip, Aloni delivers a harsh message to Israeli Prime Minister Benjamin Netanyahu, describing his “failures.” By the end of the video, Aloni is shouting, her voice rough: “Free, free us now! Free their civilians, free their prisoners, free us, free us all, let us return to our families now. Now! Now! Now!”

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Aloni was captured along with five other family members, including 3-year-old twins, from the Nir Oz kibbutz during Hamas’s attack on southern Israel on Oct. 7 — the deadliest day in the country’s history.

The release of the 75-second video Monday created a rush of emotions in Israel. It was a gut punch. The Prime Minister’s Office called the video “cruel psychological propaganda” and again compared Hamas to ISIS.

Still, one father was ecstatic to see his daughter alive.

One mother said her daughter was shown without glasses — and worried that she has not been able to see clearly since being captured more than three weeks ago.

The video circulated widely on social media here, though Israel’s TV channels did not air it. Israeli news sites described the contents, as The Washington Post is doing, and showed a screenshot and listed the three women’s names, which were confirmed by the government.

The Israeli public expressed revulsion, but they also understood what Hamas was doing.

Danny Orbach, a military historian at Hebrew University, said there is an “economy of hostage-taking” governed by a cynical logic.

By releasing the video, “Hamas is trying to increase demand” — to push Israelis to pressure their government into a cease-fire and negotiations — to remain in power and see its own prisoners freed from Israeli jails, Orbach said.

He pointed out that Israelis are not new to having hostages taken and hostage negotiations. Many approached the video with hard-earned skepticism.

Everyone in Israel knows the case of Gilad Shalit, the soldier captured by Hamas in 2006 and freed in 2011 in exchange for 1,000 Palestinian prisoners.

Israelis didn’t need to be told that the words spoken on the video were what the Hamas captors wanted them to hear. “It is clear to all but the most gullible people that the hostages are under duress,” Orbach said.

While Israel has dealt with numerous hostage negotiations, this crisis is unprecedented in magnitude.

The Israeli military says it has identified at least 239 hostages held in Gaza. It is unclear how many are being held by Hamas, and how many by Islamic Jihad and other smaller militant groups.

Hamas experts said the video appeared rushed and rudimentary, perhaps made quickly in response to Israel’s rescue of a captive soldier Sunday.

Though the images are grim, they said, it was good to see the three captives healthy, suggesting that Hamas appreciated their value. The group might also be trying to soften its international image, after body-camera footage from its fighters revealed the savagery of their Oct. 7 attacks on Israeli civilians.

In the coming days, some experts suspect that Hamas might release more older, frailer captives — seen by the militants as more of a burden than an asset.

Ronni Shaked, an expert on Hamas at the Harry S. Truman Research Institute in Jerusalem, said Hamas knows what it’s doing in its propaganda.

Though the video was not broadcast on television, “I don’t know a single friend who hasn’t seen it,” he said.

In the video, the hostage seated on the left, Rimon Kirsht, 36, nods her head in apparent agreement with her fellow captive’s words, but her hands also appear to be clasped so tightly that her fingers whiten. She and her husband, Yagev, were taken hostage from the Nirim kibbutz.

People “were shocked to see the trembling of one of the women,” Shaked said. “It makes your stomach hurt, and that pain makes you say, ‘We have to do something.’”

Shaked said the Israeli public cares deeply about the hostages. Their plight taps into deep collective trauma. “The public cares more about them than the outcome of the war,” he said.

Experts suspect that Hamas gave the captives a rough script. “The first sentence was expected,” and included a call for Netanyahu to make a prisoner exchange, but “their emotions spoke” afterward, Shaked said.

“They’re showing us the hostages now to play with our emotions again, so this emotion translates into pressure on the government to agree to a cease-fire, to create the dynamic of a cease-fire, in order to ensure the continued existence of Hamas,” he said.

At a news conference in Tel Aviv held by relatives of the three women who appeared in the video, Ramos Aloni, the father of Danielle Aloni, said: “We felt relieved to see that she’s alive and that we’re seeing her, because until today we didn’t know any details at all."

This is not the first hostage tape. On Oct. 16, Hamas posted a video showing 21-year-old Mia Schem, a French Israeli tattoo artist, after she was treated for a wounded arm.

She, too, spoke to the camera. “I’m being cared for. I’m getting medications,” she said. “I’m only asking to be returned home as soon as possible, to my family, to my parents, to my siblings. Please get me out of here as soon as possible.”

Schem was snatched by Palestinian militants while attending a rave concert in the desert near the Re’im kibbutz, where Hamas gunmen killed at least 260 festivalgoers.

When the video appeared, Schem’s mother told the Independent, “I started screaming, fell on the floor and screamed. … I saw my baby. And then we started singing, crying and being happy that she was alive.”

Schem is still being held somewhere in Gaza.

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Hamas hostage videos are cruel, manipulative, revealing. Experts expect more. - The Washington Post
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Ottawa rejects premiers' calls for more carbon price exemptions - The Globe and Mail

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Prime Minister Justin Trudeau speaks with reporters as he makes his way to Question Period in Ottawa on Oct. 31, 2023.Adrian Wyld/The Canadian Press

The federal government on Tuesday rejected calls for more carbon price concessions, saying its carve-out aimed at improving home heating oil affordability won’t be extended to households who use other fuels to heat their homes.

Prime Minister Justin Trudeau and his top ministers on the file attempted to shut down growing calls for more changes to the minority government’s emissions reduction policies as Liberal heavyweights and a leading business group said the government made a mistake with its carbon price reversal last week.

“There will absolutely not be any other carve-outs or suspensions of the price on pollution,” Mr. Trudeau told reporters on his way into Question Period on Parliament Hill Tuesday.

Last week the Prime Minister exempted home-heating fuel from the levy, prompting accusations that Ottawa has implemented a two-tier carbon pricing system that advantages voters in Atlantic Canada, a Liberal stronghold, while disadvantaging others.

Home-heating oil has more emissions than natural gas but oil is disproportionately used on the East Coast. Conversely the vast majority of households in provinces like Saskatchewan use natural gas.

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Heating oil being delivered to a home in Vermont in 2008.AFP/Getty Images

Mr. Trudeau’s comments came on the heals of similar declarations from the ministers responsible for the file earlier in the day. “There will be no more carve-outs,” said Natural Resources Minister Jonathan Wilkinson outside of cabinet.

Separately Environment Minister Steven Guilbeault told The Globe “we won’t be creating other exemptions to carbon pricing.”

On Monday, Saskatchewan Premier Scott Moe threatened to stop collecting fees from the carbon price applied to natural gas, saying Ottawa’s exemption for heating oil has excluded his province and created “two classes of taxpayers.”

Mr. Moe’s threat Monday ratcheted up the pressure on Mr. Trudeau to drop the carbon levy from all heating fuels.

Asked about Saskatchewan’s new position, Mr. Wilkinson said the premier’s new policy position isn’t allowed under the law.

“We expect him to comply with the laws of the land,” the Minister said. “It is a requirement that they collect that or that it be collected in some way.”

Mr. Guilbeault meantime said the home-heating oil exemption is due to a “very particular situation.”

“There’s a number of factors that were taken into account: the price of home-heating oil has climbed three times faster than than natural gas, it’s less efficient, it’s more polluting.”

He also rejected criticisms from many climate policy experts and business groups that last week’s climb down undercuts the government’s climate policies.

“Some people have said that this would slow down our fight against climate change, quite the opposite. We’re accelerating it. We will be taking out of Canadian residences home-heating oil faster than we would have otherwise.”

He added that home-heating oil accounts for about 1 per cent of Canada’s emissions, meaning that almost all of the country’s emissions are covered by the carbon price, and that will remain unchanged.

NDP Leader Jagmeet Singh told reporters on the Hill Tuesday that his party believes that home heating should be exempt from federal sales tax, rather than getting partial carve outs under the carbon price.

“The Liberal government’s approach is one that divides the country and provides help to those that live in ridings where the Liberals are worried about losing their seats and doesn’t provide help across the country,” Mr. Singh said.

“Justin Trudeau thought he could just do this and no one would notice how unfair it was. It just shows how out of touch Justin Trudeau is.”

The New Democrat leader defended his suggested policy of a GST exemption, saying it is in line with other exemptions for essential items.

Despite the call to lift the GST on home-heating fuels, Mr. Singh said his party is also standing by its demand the government end fossil fuel subsidies to oil and gas companies.

“To give Canadians a break is very different from giving oil and gas companies a direct subsidy,” he said.

The furor over the minority government’s climate policy changes comes amid back-to-back climate summits in Ottawa featuring Liberal heavyweights, like former Bank of Canada governor Mark Carney and former Environment Minister Catherine McKenna.

At a Tuesday morning speech, Mr. Carney pressed Canada to stick with predictable climate policy and he questioned the federal government’s move to lift the carbon price on home-heating oil.

“Many Canadians are struggling. They’re struggling not because of the carbon tax, which gets rebated, they’re struggling because of broad increases in energy prices and food prices, the impact on wages ... the lingering effects of COVID as well,” Mr. Carney said during a question-and-answer session at the conference.

“I would have looked for other ways to provide that support than the route chosen, not least because what is important is that clarity in terms of the overall plan, the overall direction. Because that certainty helps to incentivize change, so you can provide support here, but keep this certainty there.”

The former central banker, who has long been rumoured to be a possible future Liberal leadership candidate, also said no other government or prime minister in Canadian history has done more on climate and he applauded the moves to help households transition to greener heating alternatives.

His concerns about having policy certainty were echoed by Canada’s leading business lobby. The signal sent to the Canadian public and businesses with the carve-out for home heating oil “will have severe ramifications on the future of Canada’s carbon pricing regime,” said Robert Asselin, senior vice-president of the Business Council of Canada.

“Once it has been subject to arbitrary exemptions, the policy instrument will no longer be effective.”

With a report from the Canadian Press.

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Monday, October 30, 2023

What caused Matthew Perry's death? More investigation needed, LA coroner says - National | Globalnews.ca - Global News

As tributes pour in for beloved Friends star Matthew Perry, officials are still trying to determine what caused the death of the Emmy-nominated actor over the weekend.

The Los Angeles County Medical Examiner on Sunday listed the cause of his death as “deferred”, saying additional investigation is required, with questions swirling around what happened to the American-Canadian actor.

Perry, who starred as Chandler Bing in the hit series Friends, was found dead in his Los Angeles home Saturday, according to the coroner’s record. He was 54.

An autopsy has been completed, several U.S. media outlets have reported.

“In cases where the cause of death cannot be determined at the time of autopsy, a deferred certificate will be issued until additional studies have been completed,” the LA coroner’s office states on its website.

Click to play video: 'Matthew Perry, ‘Friends’ star, dead at 54, reports say'

Matthew Perry, ‘Friends’ star, dead at 54, reports say

His body is “ready for release,” the coroner’s website states.

As the investigation continues, it may take weeks before the cause of Perry’s death is determined.

According to American media reports, including the Los Angeles Times and Rolling Stone, the Emmy-nominated actor was found dead of an apparent drowning at his Los Angeles home Saturday. Celebrity website TMZ was the first to report the news.

LAPD Officer Drake Madison told The Associated Press on Saturday that officers had gone to that block “for a death investigation of a male in his 50s.”

Perry’s 10 seasons on Friends made him one of Hollywood’s most recognizable actors, starring opposite Jennifer Aniston, Courteney Cox, Matt LeBlanc, Lisa Kudrow and David Schwimmer as a friend group in New York.

As Chandler, he played the quick-witted, insecure and neurotic roommate of LeBlanc’s Joey and a close friend of Schwimmer’s Ross.

Perry described himself as half-Canadian and had deep ties to some of the biggest names in Canadian politics.

He lived between Ottawa, Montreal and Toronto with his Canadian mother, Suzanne Perry, who worked as press secretary for then-prime minister Pierre Trudeau and later as a national anchor for Global News.

Prime Minister Justin Trudeau responded to Perry’s death in a tweet late Saturday night, calling it “shocking and saddening”.

“I’ll never forget the schoolyard games we used to play, and I know people around the world are never going to forget the joy he brought them,” Trudeau said on X, formerly known as Twitter.

“Thanks for all the laughs, Matthew. You were loved – and you will be missed.”

— With files from The Canadian Press and The Associated Press.

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&copy 2023 Global News, a division of Corus Entertainment Inc.

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COVID: Doctors say more should be done to push updated shot - CTV News

When vaccines against COVID-19 first became available in Canada, public service announcements flooded radio and TV broadcasts and repeatedly popped up online and across social media feeds.

More than 80 per cent of people in Canada responded, lining up at mass vaccination clinics or booking appointments for their first two doses.

Federal, provincial and territorial governments' public awareness campaigns continued over the next few years, actively promoting booster shots to protect against waning immunity -- but the uptake was considerably lower.

Now, there are two new COVID-19 vaccines -- reformulated by Pfizer-BioNTech and Moderna -- to fight the XBB.1.5 Omicron subvariant that has become dominant across the country. Yet despite the fact every province and territory now has at least one updated mRNA vaccine in hand, some experts say public awareness efforts to drive vaccine uptake aren't what they used to be.

Doctors say it's vital to get this version of the vaccine because it offers protection against the subvariant driving a current rise in COVID-19 cases and also because most Canadians are well past the six-month mark when immunity fades after previous shots or infections.

"It seems to me that we are sort of experiencing COVID amnesia," said Dr. Nazeem Muhajarine, professor of community health and epidemiology at the University of Saskatchewan.

Overall, communications efforts to break through that "amnesia" and get across the importance of getting the vaccine have been "less than optimal," he said.

"This fall, we are at a quite a different place in relation to COVID-19 than in each of the three previous falls -- we are in a better place, but we are not in a completely safe place," said Muhajarine, who is also a researcher with Canada's Coronavirus Variants Rapid Response Network.

Provinces and territories now have information posted on their websites about who is eligible to get the updated COVID-19 vaccine, where to get it and links to book appointments or find participating pharmacies.

But those websites require people to already be "motivated" to seek out a shot, Muhajarine said.

British Columbia's system is an example of a more proactive approach, he said.

Everyone in B.C. who got their primary COVID-19 vaccine series gets a text or email message informing them when it's their turn to get the new shot, the province's Health Minister Adrian Dix told The Canadian Press in an interview.

People can click through to book their appointment immediately, Dix said, noting that the message also reminds them to get their flu shot, which can be booked at the same time.

The invitations to book have been sent out "in order of vulnerability," he said, with the first messages going to health-care workers and long-term care residents, followed by seniors and people who have chronic conditions that make them especially vulnerable to serious illness. After that, the general public has started receiving invitations.

Dix estimated that about 144,000 invitations for COVID-19 and flu vaccinations are sent out per day in B.C.

The minister didn't comment on whether the budget for advertising and promoting the COVID-19 vaccine was similar to previous efforts, but said "the text (and email) messages are an invitation system which serve as the best possible promotion."

In an email response to The Canadian Press, the Public Health Agency of Canada said that provincial and territorial governments are responsible for their own advertising campaigns to promote vaccines.

But the agency said it is also promoting the updated COVID-19 vaccine at a national level as part of "three sequenced advertising campaigns this season, one on COVID-19 vaccination, one on seasonal flu and one on personal protective measures. "Its strategy also includes news media outreach, social media campaigns and webinars with health-care professionals.

The agency acknowledged that "the overall advertising budget has decreased in 2023-24" but said its campaigns are "increasingly more targeted to higher risk individuals."

Local public health units are doing the best they can to increase awareness of the updated COVID-19 vaccine within limited budgets set by provinces and municipalities, said Dr. Thomas Piggott, medical officer of health for Peterborough, Ont.

Piggott and his team are doing both traditional media and social media promotion, including Instagram live sessions where he answers people's questions about COVID-19, flu and respiratory syncytial virus (RSV) and available vaccines.

"Capacity continues to be a challenge because public health continues to be grossly underfunded in comparison to other parts of, you know, public service and the health-care system," he said, noting there's no word if the additional COVID-19 funding given to public health units during the pandemic will continue past the end of this year.

Dr. Vinita Dubey, associate medical officer of health for Toronto Public Health, said they continue to do paid advertising as well as media relations campaigns, but "there's no question that I think people need to hear it many different ways ... in order to get the message to sink (in)."

Toronto Public Health no longer has the same large-scale infrastructure of "community ambassadors" to reach marginalized neighbourhoods and people who speak different languages that it had during previous COVID-19 vaccine awareness campaigns, Dubey said.

It also has fewer people to work on "vaccine confidence teams" who would disseminate accurate information about COVID-19 vaccination and combat the flow of misinformation on social media, she said.

Ensuring people understand the importance of this fall's COVID-19 vaccine is not just about the amount of promotion -- it's also about describing the shot accurately, Muhajarine said.

Calling the XBB.1.5 vaccine a "booster" is not scientifically accurate and may lead people to underestimate its significance, he said.

"It is not a booster dose. It is a new vaccine reformulation," Muhajarine said.

"We are not trying to boost previous vaccine doses," he said. "We are trying to elicit an immune response to this current circulating variant."

"We don't say each year, 'Get your flu booster.'  We say, 'Get your flu vaccine."'

Dubey agreed.

"When you hear the word 'booster' you might think, 'oh well, I already got a bunch of vaccines, I'm good,"' she said.

The National Advisory Committee on Immunization recommends that everyone six months of age and older get the XBB.1.5 vaccine if it has been six months or longer since their last COVID-19 vaccination or COVID-19 infection.

NACI also recommends the XBB.1.5 vaccine for both children and adults who have never been vaccinated against COVID-19.

This report by The Canadian Press was first published Oct. 29, 2023.

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Sunday, October 29, 2023

Parents, teachers rally in Saskatoon to demand more money for publicly funded schools | Globalnews.ca - Global News

Teachers, parents, and students gathered in front of cabinet minister Paul Merriman’s office in Saskatoon on Saturday to ask the Saskatchewan government to provide more money for publicly funded schools.

Samantha Becotte, president of the Saskatchewan Teachers’ Federation, says that after nearly a decade of underfunding, the provincial government has failed to acknowledge a crisis in Saskatchewan schools.

“They say the April budget is the largest budget we have ever seen. We know that the increase to the budget does not match the enrollment growth, let alone the inflation in this province,” Becotte said.

“We know kids have a right to high-quality public education. They don’t just deserve it — they have a right.”

The rally at Merriman’s office comes as the Saskatchewan government is currently in negotiations with the province’s teachers. More than 90 per cent recently voted in favour of job sanctions, though the STF president says nothing specific has been planned so far. For the government’s part, the provincial education minister has said the province is prepared to get a deal done.

Becotte said some teachers have more than 30 students enrolled in elementary classes in Saskatoon. “It ridiculous for the government to say that class sizes aren’t growing. We have record enrollment growth in districts across our province and we have fewer teachers to support them.”

Twelve Regina public schools are operating at over 100 per cent capacity.

Last year, 25,225 students were enrolled as of Sept. 30. This year, 26,089 students have enrolled so far, an increase of about 3.4 per cent.

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Nathan Bromm, vice-president of the Saskatchewan Teachers’ Federation, said that funding is available and that it’s just a question of the government’s priorities.

“They have the funding. They have a billion-dollar surplus,” Bromm said. “If they want to make the political choice and have the political will to make the changes, they can do that. They can fund our classrooms, they can do better.”

Parents Rachel Engler-Stringer and Peter Garden, whose children have dyslexia, say their kids have struggled to get the support they need to succeed, and are calling on the province to provide teachers with the proper funding and resources.

Engler-Stringer said that in terms of ensuring the future of a child, funding public education is one of the most important investments one can ever make.

“We need to make sure our kids get the education that they deserve. Right now, they’re not getting that,” Engler-Stringer said. “Last year, our youngest was in a classroom with 31 kids. She was in Grade 7. Just managing behaviour was almost impossible, let alone ensuring everyone got what they needed.”

“It’s really heartening to know that there are just so many people who care about this issue. We know that teachers care. We know they are doing their best with the resources that they have,” Garden added.

“We have no doubt that teachers have our best interests at heart. They just need more resources to do their jobs right. This government is just not providing those, and they haven’t for a very long time. So, there’s a lot of catching up to do.”

Jeremy Cockrill, Saskatchewan’s Minister of Education, said on Oct. 20 that the government is ready to listen to teachers and is prepared to get a deal done.

“We’ll bargain any day of the week,” Cockrill said. “Every week, we are ready to bargain and we want to have a fair deal that provides certainty and predictability for families, for students and for teachers in this province.”

Bromm said that if the minister is serious about bargaining, then the government should respond to the federation’s application for conciliation. “If he wants to say they’re ready to negotiate, then come to the conciliation table.”

The Saskatoon rally was the third of four that have been held throughout the province this fall. One more public education rally is planned for Nov. 4 in North Battleford, which just so happens to be Cockrill’s riding.

&copy 2023 Global News, a division of Corus Entertainment Inc.

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More Canadians struggling with car loans as debt load becomes 'too much' - National | Globalnews.ca - Global News

More Canadians are failing to meet their car loan payments as short supply and the rising cost of borrowing have consumers feeling the pinch.

In the Bank of Canada’s Monetary Policy Report released Wednesday alongside its latest interest rate decision, the central bank said that delinquency rates for motor vehicle loans have surpassed pre-pandemic levels.

Shari Prymak, the executive director of Car Help Canada, told Global News Thursday that a shortage of cars over the past few years has driven up prices up to 40 per cent on new and used vehicles.

In addition, the interest rates on financing and leasing cars have also gone up along with the Bank of Canada’s increasing interest rates, Prymak said. He said the average interest rate for financing or leasing a car is now between seven and nine per cent, compared to five or six per cent previously.

“It’s more expensive to purchase a car now than ever before,” he said. “The debt load is just too much for many consumers to handle.”

Click to play video: 'Money123: Car loans can turn into a spiral of debt'

Money123: Car loans can turn into a spiral of debt

“People are having to default on payments on credit cards or auto loans in order to continue making those higher mortgage payments,” Stephen Brown, deputy chief North America economist with Capital Economics, told Global News Thursday.

“We see weakness in those auto loans, credit cards as a precursor to a weaker economy and job losses. That then triggers sort of higher delinquency rates for mortgages.”

Andrew King, an automotive consultant with Desrosiers, told Global News in an email that the average final transaction price for new vehicles in Canada has reached above $50,000 for the first time, but the percentage of consumers in arrears on their car payment remains low.

“The rate has been climbing since 2021 but still remains below 0.6 per cent — which isn’t particularly high compared to longtime patterns,” he said.

Rising interest rates across the board are contributing to the rise in defaulting on car loans, Prymak said, along with the higher cost of most goods due to inflation. However, he said that consumers often will prioritize making their car payments due to their reliance on a vehicle.

Prymak suggested that those looking for help paying for a car could take out a line of credit as opposed to a regular loan.

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He warned that a failure to deal with car payments could lead to negative equity, in which a resale can’t recoup the amount of debt obtained.

Prymak said that if you are having trouble paying the loan, you should commit yourself to the car and not try to trade it. Instead, he said to pay off the car as quickly as you can with lump sum payments, and when you are ready, you can lease a less expensive car.

Prymak said that it doesn’t seem like there will be price relief for consumers anytime soon given continuing supply chain issues and major strikes at manufacturers.

“When we have a shortage of new cars, the prices stay high,” he said.

Click to play video: 'Bank of Canada holds rates at 5%'

Bank of Canada holds rates at 5%

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Coke and Pepsi stocks are both struggling — but one beverage giant has more to worry about than the other - CNBC

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Coca-Cola Co. and Pepsi Co. soda machines stand in a shopping center parking lot in Jasper, Indiana.
Luke Sharrett | Bloomberg | Getty Images

Coca-Cola and PepsiCo's rivalry spans decades, but Coke usually comes out on top.

This quarter was no different.

The beverage leaders' stocks have struggled this year, hurt by higher interest rates and investor concerns about the possible negative impact of weight loss drugs like Wegovy. (Coke's $242 billion market cap beats Pepsi's by roughly $20 billion.)

Even so, both companies topped Wall Street's estimates for their third-quarter results and raised their full-year forecasts. Strong demand for Coke products drove the Atlanta-based company to raise its forecast, while Pepsi's cost-management improvements have bolstered its full-year outlook for earnings.

But only Coke managed to report volume growth. The metric, which strips out the effects of pricing and currency, has become more critical to investors in recent quarters as food and beverage companies pause the price hikes that drove sales growth last year. Those same increases have also alienated some shoppers who are trying to save money on their grocery bills.

Coke's overall volume rose 2% in the third quarter, while Pepsi reported flat beverage volume and a 1.5% decline in its food volume. In North America, the differences between the two businesses were even more stark. Coke reported flat volume, while Pepsi's North American beverage unit saw volume fall 6%.

Coke also raised both its top- and bottom-line outlook for the full year, while rival Pepsi only upped its forecast for its full-year earnings, signaling the better outlook might not be due to higher demand for its products.

Here's a rundown of the five key factors that helped Coke edge out Pepsi:

Pricing strategy

Coke started raising prices across its portfolio in the spring of 2021. PepsiCo followed its lead, starting its own price hikes that summer.

More than two years later, both companies reported that higher prices have boosted sales. Pepsi paused price hikes earlier this year but plans a "modest" increase next year. Coke took longer to pause its higher prices, but CEO James Quincey said in July the company is done raising them for now in the United States and Europe.

Because of the timing of their price increases, Coke's North American drink prices were up only 5% this quarter, compared with Pepsi's increase of 12%.

"The higher the price increase, you would expect a bigger drag on volume," Edward Jones analyst Brittany Quatrochi said.

Better brands

But Coke is also winning over shoppers with its drinks, while Pepsi is focused on revitalizing some of its non-soda brands like Gatorade.

"Coke has been taking share from Pepsi for many, many quarters," RBC Capital Markets analyst Nik Modi said.

When its drinks business falters, Pepsi is usually saved by its Frito-Lay unit, which includes Cheetos, Doritos and other snacks. But snacking has slowed as shoppers trade down to cheaper options in the face of Frito-Lay's double-digit price increases.

"The reason why snacks have done so well relative to other categories is because it was really a trade down option on a meal," Modi said.

As the price for a bag of chips has climbed, some shoppers have reached for private-label brands — or just leftovers in the fridge.

Pepsi is also getting rid of its less-profitable promotions. The strategy helps its earnings, but resulted in a 2.5% hit to its North American drink volume, executives said on the company's conference call.

Away-from-home business

Roughly half of Coke's sales come from away-from-home occasions, like movie theater visits or dining out, executives said during the early days of the pandemic. In the third quarter, those away-from-home purchases grew faster than the company's at-home business, Quincey said on Tuesday's conference call.

"There's still a rebound and strong growth in away-from-home channels, not just some of the restaurants, but the amusements, travel, leisure, hospitality, those things," Quincey told analysts.

Coke could also be benefiting from consumers trading down outside of the grocery store.

"If you were going to a mid-tier restaurant, maybe now you're going to quick-serve fast food, which is where Coke has a lot of its business," Modi said.

McDonald's, for example, has said in recent quarters that diners trading down to its restaurants has boosted its U.S. sales. McDonald's has served Coke products since Ray Kroc opened his first franchised location, and is the beverage company's largest restaurant customer.

Pepsi, on the other hand, lags behind Coke with its away-from-home business, although it does have some large restaurant companies, like Taco Bell owner Yum Brands, as customers. Pepsi has not disclosed the size of this business.

International strength

Coke also has a larger international presence than Pepsi. Roughly 40% of Pepsi's sales come from outside of the U.S., while more than 60% of Coke's revenue is derived from international markets, according to FactSet.

"There's stronger growth in those international markets," Edward Jones' Quatrochi said.

International success can offset more sluggish domestic demand, like the 6% volume decline for Pepsi's North American beverage. But that comes at a price.

Some international markets, like Argentina and Turkey, have been dealing with hyperinflation, leading Coke to raise prices even after pausing hikes in the U.S. and Europe. And the strong dollar means Coke anticipates that currency exchange rates will dent its sales and earnings more than previously expected this year.

Franchising its bottling

The biggest difference between Coke and Pepsi isn't found in their portfolios. It's how they bottle their soda.

Coke works with independent bottlers who manufacture, package and ship their drinks to customers. Those bottlers know their markets well and can make their own informed decisions for their businesses.

In contrast, Pepsi owns more than three-quarters of its North American bottling operations. The strategy is meant to help the company exert more control and cut costs, but it also requires devoting resources and capital to bottling soda, a category that has faced waning demand for nearly two decades.

"Right now, I think the whole bottling owned versus not owned is showing up in the results," Modi said.

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Saturday, October 28, 2023

More Americans over 75 are working than ever — and they're probably having more fun than you - CBS News

Peter Kraus started working the day after he turned 18, when he was hired by an uncle who was a rare book dealer. Sixty years later, he's still selling books — and loving it. 

"I'm one of those lucky people — I adore what I do and I've never contemplated giving it up," said the 78-year-old Kraus, owner of Ursus Books in Manhattan. Kraus said he started Ursus Books —  which sells rare books such as a 1926 publication by surrealist Man Ray called "Revolving Doors" (price tag: $85,000) — in a fifth-floor walk-up on West 23rd Street in the 1970s.

Asked if he considers retiring, Kraus laughed. "Oh, no, no, no. I'll retire in a wooden box." 

Kraus said his younger daughter, a former human rights attorney, has joined him in the book business. His older daughter, Nicola Kraus, is a novelist who co-wrote "The Nanny Diaries."

Kraus is among one of the fastest-growing groups of U.S. workers: people 75 and older. Granted, this group of workers is a fraction of the overall workforce, and three-quarters of people over 65 are retired. But more Americans are pursuing careers long past the typical retirement age, a shift that comes as the oldest baby boomers hit their late 70s and as better health among adults allows them to extend their working lives. 

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Peter Kraus started in the rare book business the day after he turned 18 when he went to work for his uncle — and 60 years later, he still adores his job. He said one revelation about work as he's gotten older is that he doesn't take it as seriously as he used to. "Work just adds to my life," he said. P. Kraus

Older Americans "are, thanks to medical science, living longer than their parents and grandparents, and they're different in attitude," said Bob Morison, a senior advisor at consultancy Age Wave and the co-author of "What Retirees Want: A Holistic View of Life's Third Age." "They're aware that they have more years and that there's a lot of time to fill."

In 2002, about 1 in 20 people over age 75 were working in the U.S., although by 2022, that share had jumped up to 1 in 12, according to data from the Labor Department. By 2032, about 1 in 10 people over 75 will still be working, even as the agency predicts the share of younger workers to be flat or slightly down over the same period. This jump can be partly due to the shift in views about retirement, with some Americans wanting to work past 65 due to professional goals. Others need to continue to work due to insufficient retirement savings.

Work that they love

Many Americans who work in their late 70s and beyond are often motivated to stay in the workforce for a handful of reasons, Morison said. "One is that they love their work — it can be work they've always done, or it may be a second career that they started after retiring from what they've always done," he noted. 

Some people enjoy their colleagues and want the social interaction that comes from their job, while others may want to contribute to their community or industry, such as the case of some public officials and business leaders, he noted. Workers over 75 have garnered more attention of late given the ages of some of America's top elected leaders, including President Joe Biden, who is 80, and Sen. Mitch McConnell, 81. 

As U.S. elected officials are getting older, so are concerns among more voters about their abilities to handle the job. Slightly more than half of people polled by CBS News said they believe that the jobs of president and senator are too demanding for people over 75, while 8 in 10 Americans say they have concerns about the abilities of elected officials over 75. 

But generally, people are now hitting the traditional retirement age of 65 are in better health than prior generations, thanks to advances in maternal care, public health and other medical leaps that have changed the health trajectories of Americans born in the 1930s and later, said to Dan Belsky, an associate professor of epidemiology at Columbia University's Mailman School of Public Health who studies aging. 

Even so, he noted that people who work into their 80s tend to be the exception rather than the norm. About 26% of people between 65 to 74 are continuing to work, and that number shrinks to about 7.3% for people over 75, according to census data.

"We can recognize that these folks are indeed not representative of the underlying cohorts that they're born into," he said. 
"Nevertheless, it's worth observing that there are, in fact, a lot of hale, vigorous, active 70-somethings and 80-somethings and even 90-somethings out there."

"We're balling now"

There are a few commonalities between people over 75 who are continuing to work, according to experts and workers themselves. For starters: Health is a major determinant of whether you'll still be working in your 70s and beyond.

"The first unifying characteristic is good health — and it's your good health and then also the relative good health of your spouse and people for whom you have immediate responsibility, unless you have the resources to have other people caring for them," said Ruth Finkelstein, the executive director of Hunter College's Brookdale Center for Healthy Aging.

Secondly, people with college degrees are more likely to work into their 70s and beyond, Finkelstein said. About 20% of people with bachelor's degrees were working at age 70 in 2017, compared with 10% of people with a high school education or less, she said, citing an analysis of census data.

Because of that, older workers tend to be professionals, in industries such as education or management, while many are also working in artistic fields, she said. And, she said, up to one-quarter of people over 70 who are working are self-employed. 

Among those who fit that bill: Shelly Clark, 76, a singer, dancer and actress whose R&B group Honey Cone first scored hits in the 1960s and made appearances on "Soul Train," "American Bandstand" and other shows. Clark said she's now prepping another tour and enjoying her career more than when she was younger. 

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Clark (center), 76, said she's enjoying her career more now than when she was younger, noting that she has more control over her career now and loves hearing from fans about the impact her music has had on their lives. Shelly Clark

"We're balling now and having more fun, and we are in our 70s," Clark said, speaking from Las Vegas, where her husband, Earth, Wind & Fire co-founder Verdine White, also in his 70s, was performing with his group.

"When we were in our 20s and 30s, more was expected of us — we had to be under the rules of the record company and management," she said.

"Now I'm more calling the shots."

The new American dream: Working forever?

Asked if she thinks about retiring, Clark said it's a "dirty word" in her house. "Right now we are having so much fun, that even though it may be something I address eventually and my husband too, we never talk about that," she added. 

But of course, there's a darker side to people who work into their 70s and beyond, said Hunter College's Finkelstein.

"There's the sort of other end of the spectrum from people who work in knowledge industries and have jobs that they love," she said. "They are people who have no means of support in retirement and have to keep working whether they really can or not."

Many of those workers are employed in gig jobs like Uber drivers or are working as cleaners, babysitters or caregivers, Finkelstein said. And some people simply don't have enough benefits through Social Security or haven't saved much on their own, an issue that particularly affects women, who are more likely to have taken time out of the workforce to provide unpaid care for children and older relatives.

Increasingly, many younger workers fear they'll slip into that group, research indicates. About 1 in 5 Americans believe they'll never retire, and point to financial worries for that belief, according to a recent Axios/Ipsos poll. And there's good reason for those fears, with the majority of low-income workers nearing 65 without any retirement savings. 

"The idea that we've all been saving for our retirement is only true for people who earn enough money to save for retirement," Finkelstein said. 

Advice from those in their 70s and 80s

Control over one's career and time was a theme among the older workers interviewed by CBS MoneyWatch. But, they said, getting older while working also means taking time for things they might not have paid attention to when they were younger, like pacing themselves and investing in physical health. 

Look for work that engages you, or seek out new opportunities that use your skills, said Peter Tanous, 85, a writer of books such as "Investment Gurus" and the founder and chairman of Lynx Investment Advisory, who lives in Washington, D.C. Tanous said he works about 20 hours a week, including writing, meeting with clients and working with various boards he serves on. 

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Tanous said he's working on a sequel to a novel, as well as continuing to advise clients and work on several boards. Making time to keep fit is important for people who work into their 70s and 80s, he added. "You should at least 3 to 5 scheduled exercise sessions a week, and probably more," he noted. Peter Tanous

But, he said, don't neglect your health when you are in your 50s and 60s. Tanous also said he works with a personal trainer several times during the week to maintain his fitness. "I can do a one-minute plank, which I'm proud of," he said. 

Clark, the singer, said she has become more careful about her health and pacing herself. "Now you may have to warm up more, or may have to do stretches more," she said. "We have to be smarter in everything we do — in traveling, recording, whatever falls into the banner of being an artist in your 70s."

She said, "I believe we have the advantage, but we also have to slow it down."

As for bookseller Kraus, he said he's a "maniac" traveler, including his annual trip to Japan to scout for rare books. Meeting clients or friends for lunch is key to maintaining his positive outlook, he added, as well as putting together new catalogs and hunting down acquisitions at other bookshops or auction houses.

"You have to find something that you really enjoy, and if it's what you do as work, then why would you stop it?" said Kraus. "I mean, I'm lucky nobody can fire me — there's nobody to say you have to stop."

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Friday, October 27, 2023

Premiers demand more carbon-pricing carve-outs after Trudeau climbdown - The Globe and Mail

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Prime Minister Justin Trudeau makes his way to Question Period in the Foyer of the House of Commons on Oct. 25 in Ottawa.Adrian Wyld/The Canadian Press

Premiers are demanding further exemptions from carbon pricing after Prime Minister Justin Trudeau gave relief to some households in a surprise policy change that experts warn undercuts the government’s climate plan.

After years of refusing to make any such exemptions, Mr. Trudeau late on Thursday said the government would create a special carve-out to the broad-based levy and lift the tax on home-heating oil.

The change favours households in Atlantic Canada – where the Liberals have their only rural stronghold – over those in other regions, because heating oil is disproportionately used on the East Coast.

The Prime Minister acknowledged that the carbon price was adding to affordability concerns and said the exemption was needed alongside an enhanced heat-pump program to ensure more households ditch home-heating oil. By leaving out other heating fuels, such as natural gas, premiers said the Prime Minister is dividing Canadians.

“While this is a step in the right direction, the vast majority of people in Ontario heat their homes and businesses with natural gas and will still have to pay the carbon tax,” said Premier Doug Ford on social media.

“I’m urging the Prime Minister to do what’s right and eliminate the tax altogether.”

Fellow conservative premiers in Alberta and Saskatchewan – Danielle Smith and Scott Moe – echoed Mr. Ford.

In social-media posts, Mr. Moe said the Prime Minister’s move was proof that carbon pricing has made life less affordable, while Ms. Smith said it was evidence of “how dysfunctional and divisive Ottawa has become.”

“The federal government has decided that one part of Canada with one type of home heating is worthy of a carbon-tax break, while those living elsewhere using another type of home heating do not,” Ms. Smith said.

Ottawa also drew the ire of Alberta’s opposition NDP, resulting in an unlikely alignment with the governing United Conservatives.

“To apply a carbon price to only some regions and some fuels is totally unacceptable,” NDP Leader Rachel Notley said in a statement.

By late Friday afternoon, the federal government had yet to release any technical or costing information for the new policies, including what impact it will have on emissions, what the revenue impact of the heating-oil exemption is, or how much of the new heat-pump program Ottawa will pay for.

The government is also doubling the rural top-up in the carbon-price rebate for households. That rebate and the heating-oil exemption apply in provinces that are subject to the federal carbon price. In addition to the Atlantic provinces, Ontario, Manitoba, Saskatchewan and Alberta are also subject to the federal version.

For months, the Prime Minister’s own MPs had been calling for changes to the federal system, after it took effect in Atlantic Canada this summer, but Ottawa rebuffed calls for relief. “Climate change won’t wait,” Environment Minister Steven Guilbeault said in June.

Mr. Guilbeault was not available for an interview with The Globe and Mail Friday, but on Thursday, Mr. Trudeau insisted that the changes don’t show a retreat on climate policies.

“It’s actually enhancing our own policy,” he said.

Experts dispute that, saying the carbon-price exemption will lead to fewer people changing their behaviour to reduce their emissions footprint.

Ottawa’s decision runs counter to the very way that carbon pricing works, said Sara Hastings-Simon, an assistant professor at the University of Calgary, who studies the energy transition.

If the core issue is affordability, she said, it would be more effective to retain carbon pricing and institute incentives that accelerate the adoption of low-carbon alternatives, such as heat pumps, so consumers can shift from heating oil and the wild swings of commodity markets.

“Policies do work much better when both of those kind of drivers are in place,” Prof. Hastings-Simon said, pointing to Europe as an example. Heat-pump sales there grew by nearly 40 per cent in 2022, according to the International Energy Agency, because of the combination of various rebate programs and cost pressures through carbon pricing.

Carbon pricing also works better when it’s uniform, said University of Calgary economist Trevor Tombe.

“Any exemptions, whether that is across sectors, regions, fuel types, and so on, makes this policy less effective and less efficient,” he said.

Prof. Tombe said the government hasn’t articulated a convincing policy rationale for the changes, leaving him to conclude that it’s about “pure politics in a region that the governing party cannot under any circumstance afford to lose to make their electoral math work.”

“I’m a supporter of carbon taxes, but it does look like their days are numbered.”

University of British Columbia political-science professor Kathryn Harrison warned that now that the government has opened the door to changes, it will be more difficult to say no to new requests – and will make reimposing the tax on home-heating oil even more difficult.

“Exemptions beget more exemptions. Taxpayers in other regions will say ‘what about us?’ ” she said. “We have seen the scope of some countries’ carbon taxes decline over time because of that slippery slope.”

Janet Brown, a Calgary-based pollster, doesn’t think Ottawa’s policy reversal will widen geographical rifts in Canada. But it will likely be “another proof point for people in Western Canada that the Liberals will move when it will earn them votes in the East.

It’s also “a huge step down” from their message on pricing pollution, Ms. Brown said, and an acknowledgment from the Trudeau government that some Canadians find the switch to lower-carbon alternatives harder than others, based largely on where they live, their income and what fuels are available to them.

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Premiers demand more carbon-pricing carve-outs after Trudeau climbdown - The Globe and Mail
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City of Edmonton puts more focus on residential snow clearing - Edmonton | Globalnews.ca - Global News

Winter weather can cause lots of headaches on Edmonton roads, and the city is hoping to get ahead of problems. However, with a tighter budget, some of the issues we saw last year may return.

The city has allocated about $64 million for snow clearing and it doesn’t address all the issues we saw in the past, like having more equipment than operators. Right now, the city said it will have enough staff to operate 65 per cent of its equipment.

“The budget does increase year over year, so every year there is going to be additions that we will be able to provide and put on the road for Edmontonians,” said Craig McKeown with the City of Edmonton.

The roads are split up into priority sections, with freeways, arterial roads and business districts falling under Priority 1.

Residential streets are Priority 4, and could wait up to 10 days after snowfall before they gets plowed. But the city is hoping to put more attention on these roads by grooming in between parking bans.

“Hopefully we will be able to have equipment out there more often, providing a better service even outside of those parking ban times,” said Val Dacyk with the City of Edmonton.

The city has improved its roadway clearing map, which will now show where plows are in real time. The plan is to take that to council to show what can realistically be done with the resources available.

“The technology with the GPS that we have in our vehicles will show council and Edmonton what we are able to provide,” McKeown said.

One change is good news for cyclists. Crews will update routes for what active pathways are cleared within 24 hours, making a “ring road” in the city’s core.

Bike Edmonton’s Greg Glatz said it’s a good move.

“There are also routes that allow people to get from one section of the city to another section of the city. For people who are commuting, they need to go through a couple neighbourhoods at least,” he said.

“Every time you see someone on a cleared bike lane, they are not sitting in a car making your traffic worse.”

Click to play video: 'First snowfall of the season leads to slick morning commute in Edmonton'

First snowfall of the season leads to slick morning commute in Edmonton

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Lupus and other autoimmune diseases strike far more women than men. Now there's a clue why - CTV News

WASHINGTON - Women are far more likely than men to get autoimmune diseases, when an out-of-whack immune system attacks their own bodies -...