It’s possible that I shall make an ass of myself. But in that case one can always get out of it with a little dialectic. I have, of course, so worded my proposition as to be right either way (K.Marx, Letter to F.Engels on the Indian Mutiny)
IMAGES FROM POLAR BEAR COLLAR CAMERAS DOCUMENT ACTIVITY THROUGH THE SUMMER SEASON, AND INFORM A NEW RESEARCH STUDY BY USGS AND WASHINGTON STATE UNIVERSITY. POLAR BEARS EXHIBITED A WIDE RANGE OF BEHAVIORAL RESPONSES WHILE ON LAND FROM RESTING 98% OF THE TIME TO TRAVELLING UP TO 330 KM (205 MILES) OVER 3 WEEKS AND SPENDING UP TO 40% OF THEIR TIME FORAGING ON BERRIES. ULTIMATELY, ALL THE BEARS, EXCEPT ONE INDIVIDUAL WHO FOUND A MARINE MAMMAL CARCASS ON LAND, LOST ABOUT 1 KG (2.2 LBS) PER DAY ON AVERAGE, WHICH HIGHLIGHTS THAT NONE OF THESE BEHAVIOR STRATEGIES WERE BENEFICIAL FOR EXTENDING THE PERIOD IN WHICH POLAR BEARS CAN SURVIVE ON LAND.
CREDIT: U.S. GEOLOGICAL SURVEY AND WASHINGTON STATE UNIVERSITY
PULLMAN, Wash. – More time stranded on land means greater risk of starvation for polar bears, a new study indicates.
During three summer weeks, 20 polar bears closely observed by scientists tried different strategies to maintain energy reserves, including resting, scavenging and foraging. Yet nearly all of them lost weight rapidly: on average around 1 kilogram, or 2.2 pounds, per day.
Some have speculated that polar bears might adapt to the longer ice-free seasons due to climate warming by acting like their grizzly bear relatives and either rest or eat terrestrial food. The polar bears in this study tried versions of both strategies—with little success.
“Neither strategy will allow polar bears to exist on land beyond a certain amount of time. Even those bears that were foraging lost body weight at the same rate as those that laid down,” said Charles Robbins, director of the Washington State University Bear Center and co-author of the study in the journal Nature Communications. “Polar bears are not grizzly bears wearing white coats. They’re very, very different.”
Usually larger than grizzly bears, adult male polar bears can reach 10 feet in length and weigh 1,500 pounds compared to grizzly bears’ 8 feet and 800 pounds. To maintain that great mass, polar bears rely on the energy-rich fat of seals, which they best catch on the ice.
Little has been known about polar bear energy expenditure and behavior when confined to land, so researchers used collars with video cameras and GPS to track polar bears summering in the western Hudson Bay region of Manitoba, Canada. They wanted to see what the specialized ice-hunters ate and did during the extended time on land when their preferred seal prey was out of reach.
The researchers also weighed the bears before and after the observation period and measured their energy expenditures.
“We found a real diversity of bear behaviors, and as a result, we saw a diverse range of energy expenditures,” said lead author Anthony Pagano, research wildlife biologist with the U.S. Geological Survey Polar Bear Research Program and former WSU post-doctoral researcher.
Many of the adult male polar bears simply laid down to conserve energy, burning calories at rates similar to hibernation. Others, actively searched for food, consuming bird and caribou carcasses as well as berries, kelp and grasses.
In all, the researchers found a five-fold range in energy expenditure from an adult male that rested 98% of the time to the most active who clocked 330 kilometers (205 miles). Some adult females spent as much as 40% of their time foraging. Yet all that activity didn’t pay off.
“The terrestrial foods did give them some energetic benefit, but ultimately, the bears had to spend more energy to access those resources,” said Pagano.
Three polar bears went for long swims – one swimming 175 kilometers (about 110 miles) across the bay. Two found carcasses in the water, a beluga and a seal, but neither bear could feed on their finds while swimming nor bring them back to land.
Only one bear out of the 20 gained weight after stumbling across a dead marine mammal on land.
The study focused on the southern-most extent of polar bear range in the western Hudson Bay, where climate warming is likely impacting the bears at a faster rate than other Arctic regions. The polar bear population in the area has already declined by an estimated 30% since 1987. This study indicates that polar bears across the Arctic are at risk of starvation as the ice-free period continues to grow.
“As polar bears are forced on land earlier, it cuts into the period that they normally acquire the majority of the energy they need to survive,” said Pagano. “With increased land use, the expectation is that we'll likely see increases in starvation, particularly with adolescents and females with cubs.”
This research received support from the National Science Foundation, Environment and Climate Change Canada, U.S. Geological Survey, U.S. Fish and Wildlife Service, San Diego Zoo Wildlife Alliance, Detroit Zoological Association, Polar Bears International, U.S. Bureau of Land Management and WSU.
Polar bear on land in Western Hudson Bay region
Polar bear from the Western Hudson Bay region
CREDIT
David McGeachy
Still taken from video captured by a polar bear collar used in the study.
CREDIT
U.S. Geological Survey and Washington State University
Hydro One reports $181M profit in Q4, revenue up from year earlier
The Canadian Press
Hydro One Ltd. reported $181 million in fourth-quarter net income attributable to common shareholders as its revenue edged higher compared with a year earlier. Rows of power lines are shown in Mississauga, Ont., on Monday, August 19, 2019. , THE CANADIAN PRESS/Nathan Denette
HYDRO ONE LTD (H:CT)
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Hydro One Ltd. reported $181 million in fourth-quarter net income attributable to common shareholders as its revenue edged higher compared with a year earlier.
The power utility says the profit amounted to 30 cents per diluted share for the quarter ended Dec. 31.
The result compared with a profit of $178 million or 30 cents per diluted share a year earlier.
Revenue totalled $1.98 billion, up from $1.86 billion in the fourth quarter of 2022, while revenue net of purchased power totalled $989 million, up from $967 million.
The increase was due in part to higher average monthly peak demand and energy consumption, as well as higher rates, partially offset by regulatory adjustments.
Hydro One is Ontario's largest electricity transmission and distribution provider
Nearly half of Canadians still expect to make an RRSP contribution: survey
Daniel Johnson , BNN Bloomberg
New data shows that nearly half of Canadians expect to contribute to a registered retirement savings plan (RRSP) this year, despite higher interest rates and elevated inflation.
Survey data from Edward Jones Canada, released Tuesday, found that 49 per cent of Canadians still believe they will contribute to their RRSP this year amid uncertain economic conditions. However, only 21 per cent of respondents indicated they plan to contribute their maximum amount.
“It’s clear that amid the current economic climate, Canadians prefer to stick to what they know by contributing to their RRSP this year,” Julie Petrera, a senior strategist at Edward Jones, said in a press release Tuesday.
The survey also found that 58 per cent of respondents between the ages of 18 and 34 planned to contribute to their RRSP. This number was slightly higher for those between 35 and 54, with 62 per cent indicating plans for an RRSP contribution.
“RRSPs are a valuable retirement savings tool. In fact, they can be used for saving for more than just retirement,” Petrera said.
“I find it promising that a high portion of young Canadians are making choices to save for long-term goals and trust they fully understand the benefits of RRSPs, which can be used for a first home purchase, returning to school, and retirement.”
The survey also found that 10 per cent of Canadians have plans to invest in something other than an RRSP, like a tax-free savings account (TFSA) or a first home savings account (FHSA).
Methodology:
Survey data was conducted through an online poll between Jan. 24 and 26. Answers were collected from 1,699 Canadians over the age of 18.
Rothschild’s Canada head Alex Graham departs amid deal slump
Crystal Tse, Christine Dobby and Todd Gillespie, Bloomberg News
Feb 12, 2024
A family crest outside the Rothschild & Co. offices in the City of London on Feb. 6, 2023. , Photographer: Jason Alden/Bloomberg
The head of Rothschild & Co.’s Canadian office has left the storied investment bank as it grapples with a prolonged slump in dealmaking that’s hurt the entire industry.
Alex Graham and two colleagues in Canada have left the Paris-based firm in recent months, according to people with knowledge of the matter. Graham, a veteran technology and telecommunications banker, joined the firm less than two years ago from Royal Bank of Canada to expand Rothschild’s coverage beyond its traditional focus on mining and restructuring.
Rothschild said at the time that it wanted to “strengthen our Canadian presence and provide experienced leadership to our team” amid a broader North American push.
A representative for Rothschild declined to comment on the departures.
Rothschild — which, like most of its rivals, focuses on mergers and acquisitions — is grappling with a global slowdown in M&A that caused a steep decline in first-half profit last year. The firm’s largest shareholder — Concordia, a holding company for the Rothschild family — took the investment bank private last year.
No one has been appointed to formally replace Graham formally as head of Canada — a role that was created for him — and the Canada team has returned to reporting to Hugo Dryland, who is based in the US and serves as head of metals and mining, said one of the people, who asked not to be identified because they aren’t authorized to speak publicly. The firm still has a double-digit number of bankers based in Canada, the person added.
The Rothschild firm was founded by Mayer Amschel, who started out buying and selling old coins in a Frankfurt ghetto. In the early 1800s, he sent his sons to establish bases of Rothschild in London, Paris, Naples, Vienna and Frankfurt. The firm’s predecessors helped finance the Duke of Wellington’s victory over Napoleon in 1815 at the battle of Waterloo.
Higher price tag, repair costs could drive up insurance premiums for EVs, report says
Ritika Dubey, The Canadian Press
Drivers may see higher premiums for their electric vehicles as the insurance industry adjusts to the shift from gas-powered cars to electric alternatives, a new report suggests.
The price tag of EVs and higher costs for repairs are likely to be key factors that could drive Canadian auto insurance higher in the coming years, similar to a trend seen in the U.K., the report published by Morningstar DBRS on Monday shows.
EVs are computers on wheels and batteries are central to their operations, said Victor Adesanya, co-author of the report and vice-president of insurance at Morningstar DBRS' Global Financial Institutions Group.
"If the battery gets damaged, the potential for the car to be replaced is very high because they are very difficult to repair and are quite expensive," he said in an interview.
While EVs can have lower maintenance costs compared with gas-powered cars, expensive repairs and a lack of skilled technicians can drive up overall costs — in turn, affecting insurance claims.
"Insurance is a one-year contract," Adesanya said. That means every year upon renewal, the insurance company re-evaluates premiums based on their experience with theft, cost of repairs, inflation and claims.
But high insurance premiums for EV owners are not yet an issue in Canada — partly because of the slow uptake among drivers.
Zero-emission vehicles accounted for 8.9 per cent of light-duty car sales in 2022, up from 5.6 per cent in 2021, according to Transport Canada's analysis of S&P Global Mobility data.
As more people transition to EVs, Adesanya said insurers will adjust to the trends and could increase premiums.
So far, insurers have sometimes opted to fully replace an EV than pay for pricey repairs. As an example, the Morningstar DBRS report cited British Columbia insurance company ICBC's move to write off an EV because the cost to replace the battery would be the same as buying a new one.
If replacing cars becomes commonplace for insurance companies, that will significantly impact the EV market — driving claim numbers and premiums up, said Matt Hands, vice-president of insurance at rate comparison website Ratehub.ca.
He added that insurance companies are taking a wait-and-see approach in Canada and treating every case individually when it comes to EV claims.
"Insurance companies are evolving their models with more data," Hands said. "My assumption is that they're using limited data they have to make slight adjustments to their models."
EV owners are unlikely to see a rate shock, Adesanya said. Instead, increases will be more gradual due to government regulation.
Canada's auto insurance industry is highly regulated by provincial governments that review and approve requests for premium hikes.
Hands suggested drivers shop around for insurance plans.
"(Insurance) is very specific to the vehicle," he said. "If somebody was considering getting (an EV), shop around, do some price comparisons of insurance."
"If insurance is the one factor you're concerned about and you have a few models or vehicles in mind, speak to an insurance broker," Hands said.
This report by The Canadian Press was first published Feb. 12, 2024
Remote software updates transforming auto industry, experts say
Ritika Dubey, The Canadian Press
Picture a broken-down car at the side of the road. Most likely, it's an image of a frustrated driver looking under the hood or using their phone to call for help.
But that may be changing. Advanced software in connected cars is progressing faster, making it possible to fix some problems without a trip to the garage or dealership.
These so-called over-the-air fixes can remotely update entertainment and navigation systems and, in some cases, critical safety features.
Experts say this is increasingly where the automotive industry is headed.
In December, Tesla recalled more than two million cars because of a faulty self-driving feature which the U.S. transport agency said has caused fatal collisions. The auto manufacturer was able to deploy a bundle of over-the-air software updates to fix the issue.
"Software isn't really an option anymore for automakers; it's mandatory," said Dylan Khoo, an automotive industry analyst with ABI Research, based in London, England.
"You have to have software in the vehicle and software has bugs inherent to it," he said. "With that software will come the requirement to update it and if you can't do that remotely, it's heavily limiting."
Remote upgrades work similarly to changes for connected devices such as mobile phones or laptops in that they can be programmed for certain times, typically overnight, and be delivered without the user having to actively participate, said Khoo.
Mostly, drivers receive notifications on a mobile app or their car's console, alerting them to an available update, which they confirm and schedule, he said.
Tesla was the first automaker to introduce over-the-air updates more than a decade ago. Such updates have significantly improved consumer experience, said Robert Falzon, head of engineering at cybersecurity firm Check Point Software Technologies, Ltd.
"You used to have to go (to a dealership) any time there was some sort of software change to the vehicle ... leave it there for a couple of hours," he said. "It was quite a bit of effort."
Vehicle manufacturers create an encrypted piece of software designated for the car's model and send the bundled update through a server, which is then downloaded to the car over Wi-Fi or cellular data.
Minor updates can download in as little as five minutes, Falzon said, and when the update is for safety reasons, it's free of charge.
Khoo said this is in contrast to how software updates were delivered previously — by downloading them onto a USB stick or taking the car to a dealership and paying them to perform the upgrade.
"The real benefit of (over-the-air) is that the car company can control the software updates and do them more frequently," Khoo said, which is especially true when urgent software changes are pushed against security threats.
But it is not yet a widespread practice, partly because vehicles are built with parts from different suppliers. In Canada, BMW, Ford, General Motors, Jaguar Land Rover, Lucid, Mercedes-Benz, Polestar, Tesla, VinFast, and Volvo have issued remote updates to address recalls, Khoo said.
Even auto manufacturers that do provide some level of remote updates don't yet match Tesla's ability on critical safety remote fixes. Updates fixing critical features are less common generally, Khoo said. Most carmakers are also hesitant to get fully involved in certain kinds of over-the-air updates in case something goes wrong, he added.
There are a few cases where attempted updates have disabled functionality for vehicles.
Last year, a Ford Mach-E owner shared a photo online of his car's console after an upgrade failure. The prompt read, "Unfortunately, a recent software update was not successful. Your vehicle cannot be driven."
Ford said it was a rare circumstance and the owner received help with the situation.
"As the customer noted in a follow-up social media post, the Ford team responded immediately and resolved the issue," Megan Joakim, communications manager at Ford Canada, said in an email.
Electric vehicles in general have a better capacity for remote updates compared with gas cars. Over-the-air leaders are mostly companies with a focus on EVs such as Tesla, BMW, and other luxury European brands.
Falzon recalled his EV receiving an over-the-air update that allowed him to choose between a single-button cruise option or a two-click option.
"Small tweaks like that are based on feedback ... and that's all free of charge," he said.
Falzon said the mechanical components are generally less necessary in EVs and are easily fixed remotely. However, he had to bring in his EV for a software update one time after a U.S. agency mandate asked to improve the car's response to charging.
In 2023, 147 software-related recalls were issued in the U.S., only 18 of which had an over-the-air update option, Khoo said.
Over the past five years, more than 20 million vehicles were recalled for a software-related issue in the U.S. and couldn't be fixed via remote updates, Khoo added.
Even with remote update capability, cars still require trips to a mechanic for oil changes and other physical repairs.
"Nobody's going to be fixing brakes or transmission problems over the air," said Huw Williams, spokesperson for the Canadian Automobile Dealers Association. Dealerships and mechanics will continue to play a role in aftersales markets for vehicles, he added.
Manufacturers have also been slow to adopt a deeper level of software over-the-air updates -- likely because they have not figured out a consistent revenue model for it, Khoo said.
"That is really because the cost of maintenance usually exceeds the cost of production," Khoo said. "That's why a lot of (manufacturers) aren't pushing into it more aggressively because they're not entirely happy with taking on the cost of things they can't extract revenue from."
He said a car is going to be on the road for 15 years and the manufacturer's commitment to its customers would determine levels of software updates when a vehicle runs out of warranty.
"One of the big changes needed is working out where the car ends physically and where the software begins," Khoo said, because they are becoming more integrated.
"It's tough to work out exactly what customers will be happy with and accepting of (when) having a monthly subscription fee for," he said. The subscription-based over-the-air updates are limited to a small number of brands such as Tesla, unlocking self-driving features for extra dollars.
This report by The Canadian Press was first published Feb. 11, 2024.
