U.S. senators grill Facebook exec about Instagram's potential harm to teen girls - CBC.ca

Senators fired a barrage of criticism Thursday at a Facebook executive over the social-networking giant's handling of internal research on how its Instagram photo-sharing platform can harm teens.

The lawmakers accused Facebook of concealing the negative findings about Instagram and demanded a commitment from the company to make changes.

During testimony before a Senate commerce subcommittee, Antigone Davis, Facebook's head of global safety, defended Instagram's efforts to protect young people using its platform. She disputed the way a recent newspaper story describes what the research shows.

"We care deeply about the safety and security of the people on our platform," Davis said. "We take the issue very seriously.… We have put in place multiple protections to create safe and age-appropriate experiences for people between the ages of 13 and 17."

Sen. Richard Blumenthal, a Democrat from Connecticut, the subcommittee chairman, wasn't convinced.

"I don't understand how you can deny that Instagram is exploiting young users for its own profit," he told Davis.

The panel is examining Facebook's use of information from its own researchers that could indicate potential harm for some of its young users, especially girls, while it publicly downplayed the negative impacts. For some of the Instagram-devoted teens, the peer pressure generated by the visually focused app led to mental-health and body-image problems, and in some cases, eating disorders and suicidal thoughts, the research showed.

Senator compares Instagram to cigarettes

The revelations in a report by The Wall Street Journal, based on internal research leaked by a whistleblower at Facebook, have set off a wave of anger from lawmakers, critics of big tech, child-development experts and parents.

Comparisons to the tobacco industry's coverups of cigarettes' harmful effects abounded in a session that united senators of both parties in criticism of the giant social network and Instagram, the photo-sharing juggernaut valued at around $100 billion that Facebook has owned since 2012.

Said Sen. Edward Markey, a Democrat from Massachusetts: "Instagram is that first childhood cigarette meant to get teens hooked early. Facebook is just like big tobacco, pushing a product they know is harmful to the health of young people."

The episode is quickly burgeoning into a scandal for Facebook approaching the level of the Cambridge Analytica debacle. Revelations in 2018 that the data mining firm had gathered details on as many as 87 million Facebook users without their permission similarly led to a public-relations offensive by Facebook and congressional hearings.

Democratic Sen. Amy Klobuchar, left, speaks with Republican Sen. Marsha Blackburn during the Senate hearing on children's online safety and mental health. (Patrick Semansky/The Associated Press)

"It's abundantly clear that Facebook views the events of the last two weeks purely as a PR problem, and that the issues raised by the leaked research haven't led to any soul-searching or commitment to change," said Josh Golin, executive director of the children's online advertising group Fairplay. The group, formerly known as the Campaign for a Commercial-Free Childhood, doesn't take money from Facebook or companies, unlike the nonprofits Facebook tends to bring in for expert advice on its products.

Tech giant pauses kids version of Instagram

Facebook's public response to the outcry over Instagram was to put on hold its work on a kids' version of Instagram, which the company says is meant mainly for tweens aged 10 to 12. On Monday, Instagram head Adam Mosseri said in a blog post that the company will use its time out "to work with parents, experts and policymakers to demonstrate the value and need for this product."

Already in July, Facebook said it was working with parents, experts and policymakers when it introduced safety measures for teens on its main Instagram platform. In fact, the company has been working with experts and other advisers for another product aimed at children — its Messenger Kids app that launched in late 2017.

WATCH | Why Instagram is not an accurate reflection of reality:

Why Instagram is bad for kids

3 days ago

Professor Aimée Morrison at the University of Waterloo says young people are even more susceptible to the worst parts of social media than adults are. 0:39

Pressed by senators, Davis wouldn't say how long the pause would last. "I don't have a specific date but I do have a commitment" that Facebook executives will consult with parents, policymakers and experts, she said. "We want to get this right."

Blumenthal and Sen. Marsha Blackburn of Tennessee, the panel's senior Republican, also plan to take testimony next week from a Facebook whistleblower, believed to be the person who leaked the Instagram research documents to the Journal. An interview with the whistleblower is set to air on CBS' 60 Minutes program Sunday.

Davis, a one-time middle school teacher and aide in the Maryland attorney general's office, insisted that the research on Instagram's impact on young people "is not a bombshell."

"This research is a bombshell," Blumenthal countered. "It is powerful, gripping, riveting evidence that Facebook knows of the harmful effects of its site on children, and that it has concealed those facts and findings."

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Pandemic-fuelled rise in passenger misbehaviour taking toll on flight attendants - CBC.ca

Passenger disobedience, rudeness and aggressive behaviour is on the rise and directly impacting the health and well-being of airline employees, according to unions representing flight attendants at the country's major airlines.

"Our people go to work and they anticipate having altercations with our guests on board," said Chris Rauenbusch, an active cabin crew employee with Calgary-based WestJet Airlines Ltd. and president of the Canadian Union of Public Employees (CUPE) Local 4070.

"Some people have mental health conditions and need to take leaves due to these circumstances. It's not what we signed up for as flight attendants, but it's unfortunately become our new reality."

While reports of increasingly disruptive behaviour in recent months on American flights have prompted calls for U.S. lawmakers to crack down on the problem, data suggests the problem is escalating in Canada as well. Flight attendants say many of the problems stem from passengers who refuse to obey the federal requirement to wear a face mask on board.

"Every time you approach someone you have in your mind that this could be stage one of a seriously escalating situation," said Troy Winters, senior officer for health and safety with CUPE National. The union represents more than 15,000 flight attendants at nine different Canadian airlines, including WestJet, Air Canada and Transat.

"It's not as bad as it is in the States, there's not as much serious violence, but we certainly do have folks who are overly belligerent."

According to Transport Canada, incidences of passenger non-compliance with the mask mandate spiked over the summer. Airlines reported 330 passengers to the regulator for refusing to wear a mask during July and August, more than twice the number of incidents reported in April and May.

The rise can be partially attributed to increased passenger volumes as airlines reinstated routes and Canadians began to travel again over the summer. But Winters said he doesn't believe that's the only factor at play. As the pandemic drags on, tempers and anxieties are flaring, and Winters said it doesn't help that different provincial governments have been sending different messages.

"You've got different jurisdictions like Alberta and Saskatchewan, in the summer they declared the pandemic's over and you don't need to wear masks anymore. So folks coming out of those regions are saying 'I don't need to do it,' " he said.

"It's an issue that's not going away," Rauenbusch said. "I do anticipate as we get into Thanksgiving and Christmas travel season, we'll see a little more of what we're seeing in the States."

When airlines report an incident of non-compliance to Transport Canada, the regulator has a range of enforcement measures at its disposal, from letters of warning for first time offences to monetary penalties of up to $5,000. Since September of last year, Transport Canada has levied fines against 36 passengers for failing to wear a mask.

Criminal charges are also possible in the event that a passenger uses abusive language, issues verbal or physical threats towards employees or other passengers, or is otherwise deemed to be "unruly."

Though not all such cases are related to mask wearing or other public health requirements, documented instances of "unruly" passengers on Canadian aircraft have been disproportionately high during the pandemic. There were 73 recorded cases in 2020, only a 25 per cent drop from the year before in spite of the fact that passenger volumes declined by more than 70 per cent.

Flight attendants say the official numbers actually downplay the seriousness of the situation. While Transport Canada asks airlines to report every instance of passengers refusing to wear a mask, Winters said in reality crew members only report the most severe cases.

"It's definitely under-reported," he said. "Everyone that you have to ask three times to put their mask back on isn't getting written up, because then you'd be writing forms from the time you got off the flight until a couple days later."

WestJet said it has issued 118 travel bans against passengers for refusing to wear a mask since the airline introduced its "zero tolerance" policy in September of 2020.

"Since January 1, 2021, we have safely flown more than three million guests who are doing an excellent job adhering to the regulations to ensure the safety of all," said WestJet spokeswoman Morgan Bell in an email. "The total cases of non-compliance represent less than 0.02 per cent of travellers."

Air Canada, Transat AT and Porter Airlines Inc. declined to provide company-specific statistics on mask-wearing or disruptive passenger behaviour.

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Ontario recommends adults 18 to 24 get Pfizer COVID-19 vaccine over Moderna - CP24 Toronto's Breaking News

Ontario is now recommending that younger adults only be given the Pfizer vaccine due to an apparent increase in the likelihood of developing a rare heart condition following vaccination with Moderna.

The new “preferential recommendation” for the age group was issued on Wednesday following the review of data that points to a higher rate of myocarditis and pericarditis among younger adults who have received the Moderna vaccine for their second dose, particularly males.

Officials say that about one in approximately 5,000 males between the ages of 18 and 24 have developed the condition after receiving Moderna for their second dose compared to about one in 28,000 males who got Pfizer instead.

About one in 17,000 females who received Moderna for their second dose also developed myocarditis or pericarditis.

“While we are making this recommendation it is important to note that myocarditis/pericarditis remains a rare adverse event following immunization, even amongst the age groups with the highest observed rates,” Chief Medical Officer of Health Dr. Kieran Moore said during a briefing on Wednesday afternoon.

“The majority of reported cases have been mild with individuals recovering quickly normally with anti-inflammatory medication, such as Ibuprofen.”

The Ministry of Health says that those between the ages of 18 and 24 will still be able to receive the Moderna vaccine with “informed consent” however the default will now be to administer Pfizer to that age group.

During his news conference, Moore conceded that the new recommendation “may make some people nervous” and contribute to “heightened concerns about receiving COVID vaccines” but he said that it is important to remember that individuals who contract COVID-19 are 18 times more likely to develop inflammatory heart conditions like myocarditis.

“I have three young boys, two of whom are in the 20 to 24-year-old age group and they both received Moderna and I had no concerns about them having that product,” he said. “Moderna is an excellent product, it's got very good immune uptake and it's gotten very good prolonged immune response and protection. I have complete confidence in it.”

Speaking on background during a technical briefing on Wednesday, officials with the ministry said there have been fewer than 10 instances of individuals being admitted to intensive care after developing myocarditis or pericarditis post vaccination and no fatalities.

Moore also pointed out that many of the people who have been admitted to intensive care after developing a vaccine-induced case of myocarditis have been discharged a few days after admission once the condition was confirmed through testing.

“It is a very small number of people that have had to be admitted to the intensive care unit and most of the time that's for investigation so taking a blood test, a cardiogram or an ultrasound and then they're been rapidly discharged home,” he said.

Myocarditis involves the inflammation of a heart muscle while pericarditis involves the inflammation of the thin layer of skin surrounding the heart. The more common symptoms associated with the condition include chest pain, shortness of breath, an irregular heart rate and fatigue.

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Pandemic-fuelled rise in passenger bad behaviour taking toll on flight attendants - CP24 Toronto's Breaking News

Amanda Stephenson, The Canadian Press
Published Thursday, September 30, 2021 4:28PM EDT
Last Updated Thursday, September 30, 2021 6:33PM EDT

CALGARY - Passenger disobedience, rudeness and aggressive behaviour is on the rise and directly impacting the health and well-being of airline employees, according to unions representing flight attendants at the country's major airlines.

“Our people go to work and they anticipate having altercations with our guests on board,” said Chris Rauenbusch, an active cabin crew employee with Calgary-based WestJet Airlines Ltd. and president of the Canadian Union of Public Employees (CUPE) Local 4070. “Some people have mental health conditions and need to take leaves due to these circumstances. It's not what we signed up for as flight attendants, but it's unfortunately become our new reality.”

While reports of increasingly disruptive behaviour in recent months on American flights have prompted calls for U.S. lawmakers to crack down on the problem, data suggests the problem is escalating in Canada as well. Flight attendants say many of the problems stem from passengers who refuse to obey the federal requirement to wear a face mask on board.

“Every time you approach someone you have in your mind that this could be stage one of a seriously escalating situation,” said Troy Winters, senior officer for health and safety with CUPE National. The union represents more than 15,000 flight attendants at nine different Canadian airlines, including WestJet, Air Canada and Transat.

“It's not as bad as it is in the States, there's not as much serious violence, but we certainly do have folks who are overly belligerent.”

According to Transport Canada, incidences of passenger non-compliance with the mask mandate spiked over the summer. Airlines reported 330 passengers to the regulator for refusing to wear a mask during July and August, more than twice the number of incidents reported in April and May.

The rise can be partially attributed to increased passenger volumes as airlines reinstated routes and Canadians began to travel again over the summer. But Winters said he doesn't believe that's the only factor at play. As the pandemic drags on, tempers and anxieties are flaring, and Winters said it doesn't help that different provincial governments have been sending different messages.

“You've got different jurisdictions like Alberta and Saskatchewan, in the summer they declared the pandemic's over and you don't need to wear masks anymore. So folks coming out of those regions are saying 'I don't need to do it,' ” he said.

“It's an issue that's not going away,” Rauenbusch said. “I do anticipate as we get into Thanksgiving and Christmas travel season, we'll see a little more of what we're seeing in the States.”

When airlines report an incident of non-compliance to Transport Canada, the regulator has a range of enforcement measures at its disposal, from letters of warning for first time offences to monetary penalties of up to $5,000. Since September of last year, Transport Canada has levied fines against 36 passengers for failing to wear a mask.

Criminal charges are also possible in the event that a passenger uses abusive language, issues verbal or physical threats towards employees or other passengers, or is otherwise deemed to be “unruly.” Though not all such cases are related to mask wearing or other public health requirements, documented instances of “unruly” passengers on Canadian aircraft have been disproportionately high during the pandemic. There were 73 recorded cases in 2020, only a 25 per cent drop from the year before in spite of the fact that passenger volumes declined by more than 70 per cent.

Flight attendants say the official numbers actually downplay the seriousness of the situation. While Transport Canada asks airlines to report every instance of passengers refusing to wear a mask, Winters said in reality crew members only report the most severe cases.

“It's definitely under-reported,” he said. “Everyone that you have to ask three times to put their mask back on isn't getting written up, because then you'd be writing forms from the time you got off the flight until a couple days later.”

WestJet said it has issued 118 travel bans against passengers for refusing to wear a mask since the airline introduced its “zero tolerance” policy in September of 2020.

“Since January 1, 2021, we have safely flown more than three million guests who are doing an excellent job adhering to the regulations to ensure the safety of all,” said WestJet spokeswoman Morgan Bell in an email. “The total cases of non-compliance represent less than 0.02 per cent of travellers.”

Air Canada, Transat AT and Porter Airlines Inc. declined to provide company-specific statistics on mask-wearing or disruptive passenger behaviour.

This report by The Canadian Press was first published Sept. 30, 2021.

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Gold price jumps $40 as Fed's Powell says the U.S. still 'far from full employment' - Kitco NEWS

(Kitco News) The gold market rebounded from six-week lows as Federal Reserve Chair testified that the U.S. is still "far from full employment."

All eyes were on Fed Chair Jerome Powell and U.S. Treasury Secretary Janet Yellen. The duo testified before the House Committee on Financial Services on their agencies' response to the COVID-19 pandemic.

Gold saw quick double-digit gains Thursday morning as bargain hunters stepped in to buy the dip in prices, and the U.S. dollar index fell to daily lows after surging in the previous session. December Comex gold futures were last trading at $1,762.80, up 2.32% or $40 on the day.

The move higher in gold accelerated after Powell sounded slightly dovish when stating that the U.S. is "far away from full employment."

According to Powell, this gives the fed room to keep the rates low and keep accommodation in place.

"We have to balance inflation and employment. Our expectation is inflation will come down, and we won't have to have the two goals in tension," the Fed Chair noted.

At the September monetary policy meeting, Powell said the Fed could start to taper in November, which would last until the middle of next year.

When grilled on inflation, Powell also sounded unsure when the price pressures would abate.

"We do think that inflation will remain elevated until supply bottlenecks are resolved," he said. "Exactly when that will happen is not possible to say. We should see relief in the next coming months and beginning of next year."

The debt ceiling was another heated topic of discussion during the hearing. Yellen once again warned that it would be "a catastrophe" if Congress failed to raise the debt ceiling.

The U.S. Treasury Secretary also described a worrying picture if Congress waited until the last minute to raise the debt ceiling.

"As we saw in 2011 when the debt ceiling was raised at the absolute last minute, [we saw] investor and consumer confidence shaken," she said.

What would happen this time around is an increase in interest rates and a selloff in stocks. "Anyone who has a loan would see higher interest costs on their debt," Yellen noted.

The U.S. government will run out of money on October 18, and if the debt limit is not raised, the U.S. will default for the first time in its history, Yellen added. "Credit of the U.S. would be impaired, and our country will face financial crisis and an economic recession. It's necessary to avert a catastrophic event for our economy."

Yellen also continued to urge Congress to work on a bipartisan basis.

"It's important this be done on a bipartisan basis in recognition of the fact that both Republican and Democratic [administrations] have run budget deficits for most of the post-war period with only a few years serving as an exception," Yellen said.

And no hearing can end without questions about cryptocurrencies. Powell was asked to clarify his July comment stating that one of the stronger arguments for a central bank digital currency is that it could replicate the role crypto plays.

Here's Powell's full quote from July: "I think that may be the case, and I think that's one of the arguments that are offered in favor of digital currency," Powell said during a hearing before the U.S. House of Representatives Financial Services Committee. "That, in particular, you wouldn't need stablecoins, you wouldn't need cryptocurrencies if you had a digital U.S. currency - I think that's one of the stronger arguments in its favor."

This time around, Powell clarified that the Fed has "no intention to ban cryptocurrencies."

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Lightspeed responds to short-seller attack that caused stock to drop - Yahoo Canada Finance

Lightspeed says Spruce Point's short report contain inaccuracies and mischaracterizations.

Lightspeed Commerce's (LSPD.TO) stock rose more than 2 per cent at the open on Thursday, after saying a report by U.S. short-seller and investment manager Spruce Point Capital Management is false.

“The report contains numerous important inaccuracies and mischaracterizations which Lightspeed believes are misleading and clearly intended to benefit Spruce Point, which itself has disclosed that it stands to profit in the event that the stock price of Lightspeed declines,” said Lightspeed in a statement.

“Lightspeed cautions investors to not make decisions based on this report and instead strongly encourages them to consult credible sources, including Lightspeed's filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, prior to making their investment decisions.”

Lightspeed’s stock fell 11.7 per cent yesterday on the scathing report saying the stock could fall between 60 per cent and 80 per cent over the long term.

Technology stocks have been under pressure in recent days, and the report only made things worse for one of Canada’s tech darlings and top performers on the TSX.

Montreal-based Lightspeed offers point-of-sale payment solutions. Despite being in business for 16 years, Spruce Point alleges Lightspeed has never been profitable and that Spruce Point has a short position.

Spruce Point claims Lightspeed isn’t transparent about competitive pressures or gives investors too little information to understand organic growth. It also accuses Lightspeed of inflating customer numbers.

“We question why Lightspeed reported 50,000+ customers up through November 2018, and then ceased customer count disclosures to investors when coming public in March 2019?,” said Spruce Point in the report.

“In our view, the company might have shifted the narrative from customers to locations in an attempt to conceal a materially inflated customer count or an undisclosed material adverse event involving customer loss.”

Acquiring other companies has been part of Lightspeed’s growth. Spruce Point says the acquisition spree has come at a big cost and Lightspeed’s revenue reporting doesn’t tell the full story.

“They are very good at PR, and saying we’re going to acquire this, this, this, but I don’t know if there will be a breaking point where all these acquisitions are not going to play well together. It looks great on paper but when you go into practice, how is this going to operate beyond just numbers on a PR deck?” said Spruce Point.

Spruce Point says Lightspeed has weak corporate governance, worrisome auditor oversight and is also expensive on a valuation basis.

Lightspeed denies Spruce Point’s claims.

“Lightspeed is confident in its governance, financial reporting and business practices. Lightspeed has consistently delivered revenue growth since its initial listing on the Toronto Stock Exchange in March 2019. In the quarter ended June 30, 2021, revenue of $115.9M increased 220% from the prior year quarter with organic1 software and transaction-based revenue growth of 78 per cent.”

Not uncommon for high flying-stocks to be targets

When a stock has a big run, it’s not uncommon for it to be a target for short-sellers.

This isn’t the first time a Canadian tech company has come under attack from a U.S. short seller. Shopify (SHOP) and Constellation Software (CSU) were targeted and went on to be top performers on the TSX after a brief dip.

Lightspeed has been on a huge run since its IPO.

5i research holds Lightspeed in its model growth portfolio.

“For a stock up over 100 per cent in the last six months alone and trading at a high valuation, stocks like this can attract some attention from short-sellers,” 5i research CEO Ryan Modesto told Yahoo Finance Canada.

“Different opinions and views are what make a market but at first glance, we are not sure we see any 'smoking gun' in this report. Competition in the space is increasing but it is a large market and LSPD is moving quickly to claim their share of the market.”

Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.

Download the Yahoo Finance app, available for Apple and Android.

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Infographic: How the price of petrol has changed (2001-2021) - Al Jazeera English

Petrol prices are nearing all-time highs in many countries around the world as surging demand and supply shortages send global oil prices to a near three-year high.

In 2001, the global average price of petrol was about $0.60 a litre, and filling an average family sedan cost about $30. Today it is $1.20 – $30 will buy you half a tank.

High fuel prices are part of a global energy crunch that has led to big disruptions across China, the United States, the United Kingdom and Europe. Petrol and diesel prices have also spiked in several countries including India and South Africa.

As of September 2021, Hong Kong has the most expensive petrol in the world at $2.56 per litre ($11.63 per gallon) followed by the Netherlands – $2.18 ($9.91 per gallon) and the Central African Republic – $2.14 ($9.72 per gallon). High taxes largely contribute to the high cost at the pump.

The countries with the cheapest petrol include mostly oil-rich countries including Venezuela at $0.02 ($0.09 per gallon), Iran – $0.06 ($0.27 per gallon) and Syria – $0.23 ($1.04 per gallon) according to globalpetrolprices.com.

How crude oil becomes petrol

Petrol, diesel and various other fuels are made from crude oil – a yellowish-black fossil fuel that is pumped out of the ground. Many household products including plastics, detergents and clothing are also derived from the non-renewable resource.

Higher crude prices have a knock-on effect on several industries, from transport all the way through to manufacturing.

Crude oil is graded according to thickness (heavy, intermediate and light) and sulfur content (sweet – low sulfur, sour- high sulfur). Light, sweet crude oil is the highest grade. It is easier and cheaper to refine, making it the most sought after.

Brent and WTI are the global benchmarks for light, sweet crude oil. Brent is drilled out of the North Sea between the UK and Norway while WTI (West Texas Intermediate) is sourced from US oil fields.

Once the oil has been extracted and transported to various oil refineries, it must be heated in a furnace then distilled into various fuels and products. Lighter products including liquid petroleum gases require lower temperatures to extract while the heaviest products including asphalt are extracted at much higher temperatures.

How the price of petrol has changed (2001-2021)

The price of petrol at the pump depends on various factors, including the price of crude oil, transport costs, state taxes and distribution costs.

In 2001, Brent crude was trading for about $25 a barrel. One barrel is equivalent to 42 gallons or approximately 159 litres.

At its peak in 2008, Brent cost some $140 a barrel before crashing down to $45 after the global financial crisis, which destroyed demand for energy.

In April 2020, the price of oil once again plummeted to record lows as the COVID pandemic swept the globe, prompting nationwide lockdowns and very weak demand.

By September 2021, surging demand coupled with supply shortages has sent crude prices to a near three-year high at approximately $80 per barrel. Analysts at Goldman Sachs expect Brent crude to hit $90 a barrel by the end of the year.

OPEC members’ oil reserves

Central to the world’s oil production is OPEC – the Organization of the Petroleum Exporting Countries. Established in Baghdad, Iraq in 1960, this multinational organisation comprises 13 nations that collectively possess about 80 percent of the world’s proven crude oil reserves.

OPEC member countries produce about 40 percent of the world’s crude oil and represent some 60 percent of the total petroleum traded internationally,  according to the United States Energy Information Administration.

OPEC sees oil demand returning to pre-pandemic levels in 2022 and expects output to grow by 1.7 million barrels per day in 2023.

Venezuela has the world’s largest proven oil reserves at 303,806 million barrels followed by Saudi Arabia with 258,600 million and Iran with 208,600 million according to OPEC’s 2020 annual statistical bulletin.

Which countries have the most oil?

Venezuela, Saudi Arabia and Iran have half of the world’s 1.55 trillion barrels of proven oil reserves. The largest reserves among non-OPEC countries include Russia (80,000 million barrels) and the US (52,637 million barrels).

In 2019, the world consumed 99.7 million barrels of oil per day (mbpd) according to the International Energy Agency. The US alone consumes about one-fifth (20.48 mbpd) of the world’s daily oil consumption followed by China (13.07 mbpd) and India (4.84 mbpd).

According to OPEC’s Secretary-General Mohammad Barkindo, oil will retain its number one position in the global energy mix, providing 28 percent of global energy needs by 2045.

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Energy crisis, rolling blackouts in China could disrupt global supply chain - The Globe and Mail

A man uses his smartphone flashlight to light up his bowl of noodles as he eats his breakfast at a restaurant during a blackout in Shenyang in northeastern China's Liaoning Province, Wednesday, Sept. 29, 2021. People ate breakfast by flashlight and shopkeepers used portable generators Wednesday as power cuts imposed to meet official conservation goals disrupted manufacturing and daily life. (AP Photo/Olivia Zhang)

Olivia Zhang/The Associated Press

Officials in China have vowed to ensure people are able to heat their homes this winter as the country grapples with a major power crunch.

Surging coal and gas prices, as well as rising demand for electricity amid a boom in exports has led to major power shortages across China, with more than half of all provinces reporting some limitations.

This has led to rolling blackouts in some areas, while factories and plants have been forced to close or suspend operations during certain hours to conserve power.

The impact on industries is broad and includes power-intensive sectors like aluminum smelting, steel-making, cement manufacturing and fertilizer production. Suppliers for Tesla and Apple have also reportedly been forced to halt production.

Analysts are concerned knock-on effects of the power crisis could affect the wider Chinese economy, potentially dwarfing any problems resulting from the collapse of real estate giant Evergrande, which has dominated headlines in the last month.

Goldman Sachs and Nomura, the Japanese financial holding company, revised down projections for Chinese economic growth this year as a result. Shares in Chinese chemical producers, carmakers and shipping companies have tumbled, while renewable energy stocks have soared.

“The power curbs will ripple through and impact global markets,” Nomura analyst Ting Lu told Bloomberg. “Very soon the global markets will feel the pinch of a shortage of supply from textiles, toys to machine parts.”

While China is attempting to move to greener energy production, coal still fuels some 67 per cent of power generation, Nomura said in a report Monday. Coal costs are soaring worldwide, but strict government limits on electricity pricing have prevented power companies from passing these rises onto consumers, leading some to cut production.

Even some provinces with plenty of energy to go around are still experiencing power shortages as their governments try to hit national energy consumption targets for the third quarter. In August, the National Development and Reform Commission (NDRC) warned that two thirds of all provinces missed their targets in the first half of this year.

This led some local governments to impose rolling blackouts this month, often with little warning. That led to traffic chaos after street lights stopped working, with reports of people being trapped in elevators or forced to walk up dozens of flights of stairs, and even hospitalizations. In northern Liaoning province, 23 workers at a foundry ended up with carbon monoxide poisoning after a blackout shut down the ventilation system, state media reported.

In an opinion piece published Sunday in the People’s Daily, the mouthpiece of the Communist Party, local governments were told not to be “too aggressive” or “slam the brakes too hard” in controlling energy consumption.

“No matter how tight the power supply is, we must give priority to guaranteeing residents’ electricity use,” the piece said, warning of potential societal unrest if this is not the case.

At a press conference Wednesday, officials from the NDRC echoed this guidance, saying that the Party “attaches great importance to the work of ensuring energy supply during the heating season.”

The NDRC said it will release advanced coal production capacity, increase coal imports and try to increase domestic natural gas production in order to relieve the current crisis. On Thursday, authorities in Heilongjiang province, said they would ramp up the amount of electricity imported from across the border in Russia, easing local power shortages.

However, on the same day, the China Coal Industry Association warned in a statement that coal inventory at power plants is low, and it is “not optimistic” ahead of the winter peak demand season.

There was evidence of public anger over the blackouts being censored online. Both FreeWeibo and FreeWeChat, services which monitor censorship on China’s biggest social media platforms, showed many posts being deleted.

In an editorial this week, Global Times, a nationalist state-run tabloid, attacked foreign media for launching “a new wave of criticism bad-mouthing China’s economy and raising the alarm,” adding that “this power crunch is not a crisis for China.”

“China is prompt in discovering and discerning problems, and public opinion has played a positive role in it,” the paper said.

While the manufacturing hubs of southeastern China have been among the worst-hit economically this month, residents of northern provinces are fearful that shortages could continue into the bitterly cold winter, bringing widespread misery and potential death.

“Even with prior notice, no electricity equals no heating, how would we live through this winter?” wrote one user on Weibo, China’s equivalent to Twitter.

The temperature regularly plunges below -20ºC across northeastern China, where households are largely dependent on coal for heating — though some have moved to electric heaters in recent years.

One Weibo user in Jilin province, on the border with North Korea, said that without power “taking a hot bath is impossible, eating a hot meal becomes a luxury, are we really going to live like ancient human being? Drill wood for fire, read our books by oil lamp?”

With reports from Alexandra Li and Reuters.

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Ontario recommends Pfizer shots instead of Moderna for young adults over possible heart risks - National Post

'I know that this news may make some people nervous.... But the benefits of vaccination continue to significantly outweigh the risks of COVID-19'

Author of the article:

Sharon Kirkey

Publishing date:

Sep 29, 2021  •  9 hours ago  •  3 minute read  •  95 Comments

A healthcare worker administers a Pfizer COVID-19 vaccine at a pop up clinic in Brampton, Ontario. Photo by Carlos Osorio/Reuters/File

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Following the finding of a potential one in 5,000 risk of heart inflammation after a second dose of Moderna, Ontario is recommending people aged 18 to 24 be preferentially vaccinated with Pfizer — a decision made “out of an abundance of caution,” but one that could rattle confidence in COVID-19 vaccines.

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“I just want to be clear: We’ve had no fatalities whatsoever associated with this complication related to this rare side effect of this vaccine,” Dr. Kieran Moore, Ontario’s chief medical officer of health, told a media briefing Wednesday.

Moore said the decision to issue a “preferential recommendation” was ultimately his, based on a “very small but observed increase” of myocarditis, or inflammation of the heart muscle, and pericarditis, inflammation of the sac around the heart, following vaccination with Moderna compared to Pfizer in 18- to 24-year-olds, particularly among males.

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Between June and August, based on more than 96,000 second doses of Pfizer and Moderna, both mRNA vaccines, the rate of heart complications following a second dose of Moderna was one in 5,000.

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For Pfizer-BioNTech, the rate was one in 28,000 doses.

The majority of reported cases have been mild, with most people requiring an anti-inflammatory like ibuprofen or naproxen, Moore said. Of the “very small” number admitted to hospital for a blood test, cardiogram or ultrasound, most were quickly sent home, he said.

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1. Heart inflammation after COVID shots higher-than-expected in study of U.S. military

2. CDC: No deaths in young U.S. adults with myocarditis after Pfizer shot

Moore said the risk of myocarditis and other serious “events” such as abnormal heart beats, blood clots in the legs or lungs, heart attack or intracranial haemorrhage (bleeding in the brain), is 18 times higher with a COVID infection.

“I know that this news may make some people nervous and heighten concerns about receiving a COVID vaccine, and I can understand that,” Moore said. “But the benefits of vaccination continue to significantly outweigh the risks of COVID-19 illness and related, possibly severe, consequences.”

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Ontario’s recommendation takes effect immediately, but 18- to 24-year-olds can still receive Moderna, if they so choose.

Symptoms of myocarditis or pericarditis, such as chest pain, shortness of breath and rapid or abnormal heartbeat, typically start within one week of being vaccinated, and most often after the second dose. Anyone who hasn’t developed symptoms within this timeline, the province said in a release, “should feel confident that they are unlikely to develop symptoms later,” and people who had Moderna for their first dose can safely take Pfizer for their second.

Moore said he did have concerns about addressing the myocarditis risk, but “I have to build trust with the public. We have to have accountability to the public and I think the public deserves to know the facts.” Expert advisers recommended the public be told of the increased risk “of this very rare event,” he said. “And I hope the public will realize we’re trying to be as transparent as possible.”

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Last week, a University of Ottawa Heart Institute preprint study that estimated a one in 1,000 risk of post-vaccine myocarditis following vaccination with an mRNA vaccine was retracted at the request of the authors, who said incorrect data had vastly inflated the incidence. The adjusted incidence was one in 25,000 doses.

It’s not clear why the association appears higher with Moderna versus Pfizer. Moderna has a higher amount of mRNA, “and we know that some of the side effects from Moderna are more profound,” said infectious diseases specialist Dr. Isaac Bogoch. Moderna may also offer a longer-lasting immune response, he said, which, again, might be related to the amount of mRNA in Moderna versus Pfizer.

While myocarditis appears more common in males than females, and most often after the second dose, “that doesn’t mean it’s exclusively males, exclusively young and exclusively second dose,” said Bogoch, of Toronto’s University Health Network. “It can happen after the first dose in females and older, but it’s rare. It’s still a rare event.”

“You have to be transparent, you have to tell people what the risk is and you have to express uncertainty that this might change with time,” he said.

With additional reporting from The Canadian Press

• Email: skirkey@postmedia.com | Twitter:

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Vaccine mandate coming for N.L. public sector workers, says premier - CBC.ca

Newfoundland and Labrador could implement a vaccine mandate for public sector employees as early as next week. (Patrick Butler/CBC)

Newfoundland and Labrador could mandate COVID-19 vaccines for public sector employees in just one week, says Premier Andrew Furey.

At a briefing Tuesday, Furey said the provincial government is already in discussions with the unions representing the province's public sector workers, from health-care workers to teachers.

"We feel it's our responsibility to protect the people that we serve," Furey said.

The announcement came the same day the province provided details on how its vaccine passport system will work.

Furey said discussions with unions have been "open," and most have been receptive so far.

"Overall, there was a general willingness to participate, recognizing the current situation across the province," Furey said.

In a statement, Newfoundland and Labrador Teachers' Association spokesperson Jennifer Tulk said the union recently became aware of the government's plan for mandatory vaccinations, and is holding internal discussions.

"As with any decision by government that may impact working terms/conditions for NLTA members, meaningful consultation with the NLTA is required and details are critical," Tulk said.

In a CBC News questionnaire last spring, some of the province's teachers indicated they would support a vaccine mandate.

On Wednesday, the Newfoundland and Labrador Medical Association released a statement in support of mandatory vaccinations for all health-care workers.

"It's our job to make sure that every health-care professional, as much as we can, leads by example and makes sure that they don't get COVID 19 and pass it to their patients," said NLMA president Dr. Susan MacDonald in an interview with CBC News.

MacDonald said she doesn't know if all physicians in the province are vaccinated but the "vast majority" are.

Newfoundland and Labrador Medical Association president Dr. Susan MacDonald says the association is in full support of a vaccine mandate for health-care workers. (Mark Quinn/CBC)

She said the mandate could include consequences for physicians who refuse to get vaccinated and do not have a valid medical exemption.

"We hope we don't have to call for consequences. We hope that people do the right thing. But with anything else, there are consequences if you choose not to follow," she said.

In an email, a spokesperson for the College of Registered Nurses said they were waiting for more details from the provincial government before commenting on the mandate.

CBC has asked the Newfoundland and Labrador Association of Public and Private Employees for comment.

Questions still remaining

The province had previously shied away from committing to a mandate for its public sector workers.

In August, Health Minister John Haggie told reporters that a vaccine mandate could be a legal and charter issue, and the province was waiting to see what would happen in other jurisdictions across the country before bringing in its own mandate.

Now that the federal government, along with other provinces and territories, have announced some version of a vaccine mandate for workers in the public sector, the province is following suit.

Details on the mandate remain scarce, as do details on the vaccination status of the province's public sector workers.

Health Minister John Haggie says it's difficult to determine vaccination rates among health-care workers. (Patrick Butler/CBC)

At a media briefing Wednesday, Haggie said the government has not yet determined what repercussions employees will face for refusing to get vaccinated. He said the Department of Justice and Public Safety is developing a regulatory framework.

Public health officials have not provided vaccination rates for health-care workers or public sector workers, although they said the vaccine rate among health-care workers is estimated to be high.

At Tuesday's briefing, Haggie said it is difficult to determine the vaccination status of health-care workers because some who work in the private sector also self-identify as working in health care.

"What we do know in general is that the vaccination rate of health-care workers tends to mirror the vaccination rate of the communities in which they live and work," he said.

Dr. Rosann Seviour, acting chief medical officer of health, noted Newfoundland and Labrador has not faced the tragic situations in long-term care homes seen in other provinces. (Patrick Butler/CBC)

Public health officials have not confirmed if any cases of COVID-19 in hospitals or long-term care were transmitted through staff, but acting chief medical officer of health Dr. Rosann Seviour pointed to the low rates of COVID-19 in the province's long-term care homes.

There are seven people in hospital due to COVID-19 in Newfoundland and Labrador.

When asked during a briefing on Wednesday if anyone in hospital had been vaccinated, Seviour said she could not reveal that information due to privacy concerns.

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Why is gold down $90 this September? Analysts eye price risks below $1700 an ounce - Kitco NEWS

(Kitco News) Gold is looking to wrap September down nearly $90, and analysts are warning of a possible washout if gold tumbles below $1,700 an ounce.

The two-punch combination of surging U.S. Treasury yields and a higher U.S. dollar is pressuring gold down amid inflationary fears and risk-off sentiment in the marketplace, according to analysts.

At the time of writing, December Comex gold futures were trading at $1,725, down 0.72% on the day, while the U.S. dollar index was at 94.36, up 0.64% on the day, and the U.S. 10-year Treasury yield was fetching 1.541%.

"The yields and the dollar are the major part of it. There is an inverse correlation between higher yields and metals. When yields are popping, metals are down, and the USD is up," RJO Futures senior commodities broker Daniel Pavilonis told Kitco News.

Gold is "just hanging in there," Pavilonis said, noting that if the precious metal falls below $1,673, the market could see a washout to $1,550 an ounce.

Considering the U.S. dollar index jump, gold is holding up pretty well, said MKS PAMP GROUP head of metals strategy Nicky Shiels.

"Gold is currently sitting at $1,730 (same level when Bitcoin hit its $60K peak and all the furor was about cryptos, less so precious). The ever-important $1,675 handle (triple bottom but also near where the bulk of ETF holders are long at) is nearby. Beyond that, $1,560 is where gold has technically erased all 'COVID premium' (a stretch we believe)," Shiels said on Wednesday. "Gold needs to reclaim an old floor ($1,750) before 50DMA is in view ($1,786)."

After the Fed Chair Jerome Powell signaled that tapering could begin in November and end by the middle of next year, all the near-term risk-off sentiment has gone to benefit the U.S. dollar and not gold, Shiels pointed out.

"Any near-term uncertainty (over debt ceiling, Feds taper, inflation worries, China etc) has then been channeled into the safety of the US$ alone, which is the dominant driver behind the persistent pressure in Gold & Silver," she said.

And a significant repricing of the U.S. dollar to the upside could lead to a bigger selloff in gold, Shiels added. "If the current repricing in rates & USD$ continues, putting real yields out of the negative territory, and the USD$ back near COVID highs (which would be a massive move…), that implies Golds fair price is in the $1,450-$1,470 range."

With the 10-year Treasury yield looking at a move towards 1.60%, gold is on "thin ice," said OANDA senior market analyst Edward Moya.

"The $1,700 level seems imminent for bullion, with many traders eyeing the March lows ahead of $1,670 as critical support. The reset of inflation expectations has not benefited gold prices at all, in fact, it has been the primary driver for Treasury yields," Moya said. "If gold can show signs of stabilizing, then longer-term investors will return and bet on the 2022 global economic recovery that will ultimately lead to a weaker dollar."

Despite all of this, there are still gold bulls out there who cite massive money printing. But the precious metal is not responding with a higher price target.

"Gold is an inflationary hedge," said Pavilonis. "But rates are going higher, which steals the rationale why gold would go up. There will come the point when rates are not high enough to hedge inflation. And the cat could be out of the bag towards the end of the year or by the middle of next year."

Also, the good news for precious metals investors is that gold's inverse relationship to higher yields won't last forever, according to Pavilonis. "Tapering is not raising rates, and if the Fed rejects the notion of raising interest rates for longer, there is a possibility there will be a mismatch with actual inflation," he said.

This year, the Federal Reserve has worked very hard to create a psychological narrative that inflation is temporary and the market believes it, Pavilonis noted. But the coming energy crisis and longer-lasting supply bottlenecks are questioning that type of thinking.

"We are seeing this in natural gas, cotton, and going to see that in grains again shortly. I don't think this is temporary. This is the beginning of larger waves to the upside," he said.

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Ontario recommends people aged 18 to 24 take Pfizer vaccine - CTV News

TORONTO --  An increase in cases of a rare heart condition in young adults who have received the COVID-19 Moderna vaccines has prompted Ontario to recommend the Pfizer-BioNTech shots for those aged 18 to 24.

The province says the rise of myocarditis and pericarditis cases has been particularly observed among males in that age group.

Between June and August, the province says the risk of myocarditis and pericarditis for males aged 18 to 24 following a second dose of Moderna was one in 5,000.

For those who received the Pfizer-BioNTech, the rate was one in 28,000.

The province says the side-effect is still rare and the majority of cases are considered mild.

The recommendation is preferential and people can still take the Moderna vaccines if they choose to.

This report by The Canadian Press was first published Sept. 29, 2021.

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Dollar strength today is equal to gold weakness in terms of percentage gain and decline - Kitco NEWS

A surging U.S. dollar continues to pressure gold resulting in a further price decline. Yesterday the dollar index closed at the highest level this year, and today the dollar rally continued and resulted in a new record high for the year. As of 4:30 PM EDT, the U.S. dollar index is up by+0.68% and gold futures are down by -0.68%.

This means that the percentage advance in the dollar index is equal to the percentage decline in gold. Today's example clearly illustrates the intrinsic negative correlation between gold and the dollar. This occurs because gold is priced or paired against the dollar. This also shows that today's selloff in gold did not occur because of selling pressure, but rather dollar strength. The same cannot be said for the dramatic decline today in silver which we will address at the end of this article.

Today the U.S. dollar index gained 0.625 points and is currently fixed at 94.405, by far the highest value in 2021. However, even at this level, the dollar is 10% below the highs seen in March 2020 as well as in December 2016. In both of those instances, the dollar index hit a high just above 103. In March 2020 the dollar closed at 103.50 on a weekly chart which matches the highs achieved in December 2016.

The implications of the highs achieved both in 2016 and 2020 mean that even at this current level the dollar index could move substantially higher. Currently, the dollar's rise has been fueled by recent statements by the Federal Reserve that they are going to begin to wind down their unprecedented accommodative monetary policy that they put in place at the onset of the pandemic in attempts to temper the recession which followed. Now the Fed's accommodative monetary policy has been a key component of the economic recovery that has begun in the United States.

However, there have been real costs to Fed's $120 billion monthly purchases. The balance sheet of the Federal Reserve has now swelled to $8.4 trillion. Although the Federal Reserve has not made it clear when they will reduce their balance sheet, but they have announced that they will "soon" begin to taper their monthly accumulation.

Since the Federal Reserve announced that they will begin to taper their monthly $120 billion of asset purchases (80 billion in U.S. debt and 40 billion in mortgage-backed securities) we have seen the yields in U.S. debt instruments rise dramatically. Yields in the 10-year Treasury notes rose to a three-month high which resulted in the recent strength of the dollar. This strength is a direct result of higher yields in government bonds and notes resulting in the dollar again be favored as a safe-haven asset.

MarketWatch reported that FXTM analyst Lukman Otunuga said, "Yields have risen on expectations for a sooner-than-expected rate hike by the Fed, which could translate to more losses for gold as it would raise the opportunity cost of holding non-yielding bullion."

Gold today lost $11.70 with the most active December 2021 Comex contract currently fixed at $1725.80. Silver prices have also plunged giving up 4.24% today with the most active December contract down $0.95 and fixed at $21.515. Silver has now fallen below the lows of September 2020 at which time silver pricing hit a weekly low of $21.85.

Our technical studies indicate that gold's next level of support occurs at $1712 with stronger support at $1675 which is based upon the double bottom that occurred in March 2020 which also matched the lows of the flash crash that occurred in August following an extremely robust jobs report for July. Major support does not occur until $1628 per ounce which is based upon the 50% retracement of gold's ascent from $1177 up to the apex of $2088.

For those who would like more information, simply use this link.

Wishing you, as always, good trading and good health,

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Ontario identifies rare heart condition caused by Moderna vaccine in young adults - CityNews Toronto

Ontario recommends only the Pfizer-BioNTech (Comirnaty) vaccine be used in the 18 to 24-year-old age group due to a rare symptom caused by the Moderna (Spikevax) vaccine.

The provincial government made the determination following an increase in the heart conditions known as pericarditis and myocarditis.

Ontario’s chief medical officer of health, Dr. Kieran Moore, says it’s out of an abundance of caution and effective immediately.

The decision is based on the advice of Ontario’s children COVID-19 vaccine table, Ontario’s vaccine clinical advisory group and Public Health Ontario.

Moderna’s mRNA vaccine has a higher rate of the rare side effect in the aforementioned age group, particularly among young men.

Between June 1 and August 7 of this year, Moore says based on 96,000 administered doses of the mRNA vaccines to males aged 18 to 24, the risk of pericarditis and myocarditis following a second Moderna dose was 1 in 5,000.

It affects only 0.1 per cent of vaccine recipients.

For those who received the Pfizer-BioNTech, the rate was one in 28,000.

The majority of reported cases have been mild, Moore says, with affected individuals recovering quickly, usually with the help of anti-inflammatory medication.

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RELATED: Pfizer, Moderna vaccines granted full approval by Health Canada; get unique name change

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Symptoms have typically been reported one week after a vaccine shot and more commonly after a second dose. The province assures that those who have not reported symptoms should feel confident they will not develop the rare side effect at a later date.

A severe allergic reaction (anaphylaxis) and Bell’s palsy (facial paralysis) are also rare.

Moore says that individuals aged 18 to 24 that received Moderna as their first dose can safely take Pfizer-BioNTech as their second shot, adding that mixing vaccines is safe and effective.

Should residents wish to receive Moderna as their second shot and prefer to do so, the province says it can be authorized with informed consent.

Moore says provincial health officials will continue to administer the Pfizer-BioNTech vaccine in youths aged 12 to 17, including those turning 12 in 2021.

There are just under three million doses of the Pfizer vaccine readily available in Ontario. Moore says there is significant supply to ensure that the province moves ahead with the recommendation.

Moore is assuring residents who received the first shot of Moderna that they “absolutely did the right thing” to protect themselves against the virus and the Delta variant.

Health care providers must report possible reactions following vaccination to their local public health authority. The public health authority then reports them to the Public Health Agency of Canada.

Provincial data says 86 per cent of people aged 12 and older have at least one COVID-19 vaccine dose, and 80 per cent have received both shots.

Health Canada announced in mid-September that both Pfizer-BioNTech and Moderna’s mRNA vaccines were formally granted full approval for anyone aged 12-and-up in the country.

Pfizer-BioNTech’s vaccine was initially authorized for use in Canada under an interim order on December 9, 2020.

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Ontario recommends adults 18 to 24 get Pfizer COVID-19 vaccine over Moderna due to increased risk of rare heart condition - CP24 Toronto's Breaking News

Ontario is now recommending that younger adults only be given the Pfizer vaccine due to an apparent increase in the likelihood of developing a rare heart condition following vaccination with Moderna.

The new “preferential recommendation” for the age group was issued on Wednesday following the review of data that points to a higher rate of myocarditis and pericarditis among younger adults who have received the Moderna vaccine for their second dose, particularly males.

Officials say that about one in approximately 5,000 males between the ages of 18 and 24 have developed the condition after receiving Moderna for their second dose compared to about one in 28,000 males who got Pfizer instead.

About one in 17,000 females who received Moderna for their second dose also developed myocarditis or pericarditis.

“While we are making this recommendation it is important to note that myocarditis/pericarditis remains a rare adverse event following immunization, even amongst the age groups with the highest observed rates,” Chief Medical Officer of Health Dr. Kieran Moore said during a briefing on Wednesday afternoon.

“The majority of reported cases have been mild with individuals recovering quickly normally with anti-inflammatory medication, such as Ibuprofen.”

The Ministry of Health says that those between the ages of 18 and 24 will still be able to receive the Moderna vaccine with “informed consent” however the default will now be to administer Pfizer to that age group.

During his news conference, Moore conceded that the new recommendation “may make some people nervous” and contribute to “heightened concerns about receiving COVID vaccines” but he said that it is important to remember that individuals who contract COVID-19 are 18 times more likely to develop inflammatory heart conditions like myocarditis.

“I have three young boys, two of whom are in the 20 to 24-year-old age group and they both received Moderna and I had no concerns about them having that product,” he said. “Moderna is an excellent product, it's got very good immune uptake and it's gotten very good prolonged immune response and protection. I have complete confidence in it.”

Speaking on background during a technical briefing on Wednesday, officials with the ministry said there have been fewer than 10 instances of individuals being admitted to intensive care after developing myocarditis or pericarditis post vaccination and no fatalities.

Moore also pointed out that many of the people who have been admitted to intensive care after developing a vaccine-induced case of myocarditis have been discharged a few days after admission once the condition was confirmed through testing.

“It is a very small number of people that have had to be admitted to the intensive care unit and most of the time that's for investigation so taking a blood test, a cardiogram or an ultrasound and then they're been rapidly discharged home,” he said.

Myocarditis involves the inflammation of a heart muscle while pericarditis involves the inflammation of the thin layer of skin surrounding the heart. The more common symptoms associated with the condition include chest pain, shortness of breath, an irregular heart rate and fatigue.

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