Nova Scotia reported zero new cases of COVID-19 on Wednesday, but has identified earlier cases related to the delta variant.
The National Microbiology Lab has confirmed 20 delta variant cases and 36 alpha variant cases among previously reported COVID-19 cases, according to a release from the provincial government.
“I’m not surprised by this [and] fully expected to see it,” Dr. Robert Strang, the province’s chief medical officer of health, said during a briefing alongside Premier Iain Rankin Wednesday.
Strang said he did not have any details on when the variant cases were originally active in N.S., as they are in the process of matching the results with individuals.
The province’s third wave was driven by the alpha variant, Strang said, but added the worry around the fast-spreading delta variant is that it could spark a fourth wave, which many countries around the world are experiencing now.
Strang repeated his call for Nova Scotians to get their second dose of vaccine as soon as possible, as a double dose is the best way to prevent an outbreak driven by the delta variant.
Nova Scotia has now moved into Phase 4 of its reopening plan, which was contingent upon 75 per cent of residents receiving one dose of a vaccine.
“We can enjoy this phase of newfound freedoms, however until we get our vaccination coverage up … we can’t let our guard down,” said Rankin.
Strang has said the province hit the 75 per cent milestone last week, a figure that includes vaccinated Armed Forces members who have not yet been added to the provincial database for privacy reasons.
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He also said that so far, 45 per cent of Nova Scotians have received a second dose.
But Strang said until 75 per cent of all Nova Scotians have both doses, the province will not be able to move to Phase 5, or the “new normal” of living with COVID-19 without mandatory restrictions.
The province is on track to reach that goal by the end of August, but if more Nova Scotians step up for their second dose, Strang said it could happen earlier.
In the meantime, Strang said public health is looking at incremental changes for some things, such as large gatherings with thousands of people, so Nova Scotia does not suddenly return to full capacity in Phase 5.
Dancing at bars now allowed
The only remaining measures relate to indoor masking and physical distancing, Strang said, as “virtually everything else is open and 100 per cent” in Phase 4.
Nightclubs and bars now have the ability to open up for dancing, with masks, as long as people stay within groups of up to 25 people.
“We’ve opened things up a lot. Stay within the rules though. This is how we manage this additional level of risk,” Strang said.
Strang said he’s happy to see the needle beginning to move “a little bit” on second doses, and it’s great to see people still coming out for their first dose, 1,200 of which were delivered Tuesday.
28 active cases
There is no longer any sign of community spread in the province, but all health zones are being closely monitored.
There are currently 28 active COVID-19 cases in Nova Scotia. Of those, two people are in hospital, including one in intensive care. The province reported three recoveries Wednesday.
The Nova Scotia Health Authority’s labs completed 3,691 tests on Tuesday.
As of Monday, there have been 1,154,785 doses of COVID-19 vaccine administered. Of those, 434,537 Nova Scotians have received their second dose.
Atlantic Canada case numbers
New Brunswick reported no new cases of COVID-19 for the ninth straight day Wednesday, and the number of active cases has dropped to two.
Newfoundland and Labrador reported no new cases Wednesday on land, but there were three more confirmed cases onboard the Princess Santa Joana anchored in Conception Bay. There are 23 active cases in the province.
TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.
Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.
Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).
SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.
The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.
WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.
SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.
SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.
SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.
The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.
Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.
“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.
“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”
Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.
On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.
If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.
These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.
If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.
However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.
He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.
“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.
Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.
The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.
Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.
Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.
Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.
Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.
Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”
In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.
“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.
This report by The Canadian Press was first published Nov. 12, 2024.
TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.
The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.
The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.
RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.
The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.
RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.
This report by The Canadian Press was first published Nov. 12, 2024.
