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Oil’s 60% Crash Is the Tip of an Iceberg. The Reality Is Worse – Yahoo Canada Finance

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MADRID – Spanish army troops disinfecting nursing homes have found, to their horror, some residents living in squalor among the infectious bodies of people suspected of dying from the new coronavirus, authorities said Tuesday.Defence Minister Margarita Robles said the elderly residents were “completely left to fend for themselves, or even dead, in their beds.” She said the discovery over the weekend included several nursing homes but did not name them or say how many bodies were found.A judicial probe into the horrific discovery was opened Tuesday as Spain announced a record one-day jump of nearly 6,600 new coronavirus infections, bringing the overall total to more than 39,600. The number of deaths also leaped by a record 514 to almost 2,700, second only to Italy and China.As bodies piled up, Madrid took over a public skating rink as a makeshift morgue after the city facility overflowed. To date, 1,535 people have died in the hard-hit Spanish capital, more than half of the national total. The capital region has over 12,350 infections.“This is a tough week,” Dr. Fernando Simón, head of Spain’s health emergency centre, told a daily news briefing.Relatives of elderly people and retirement homes’ workers expressed growing concern about the situation at the centres.”With everything that is happening with the coronavirus, this was a ticking bomb,” said Esther Navarro, whose 97-year-old Alzheimer’s-stricken mother lives at the Usera Seniors’ Center in Madrid, where soldiers found some of the bodies.“Now we are bracing ourselves for the worst possible outcome,” she told the Associated Press in a telephone interview.A worker at the nursing home said at least two bodies had to remain in the home for a day before funeral workers, who are working around the clock, arrived to take them away.“We are very saddened, because the residents are almost like our own relatives due to the time we spend with them,” the worker, José Manuel Martín, told Cadena SER radio.Pedro Núñez said his father-in-law, Zoilo Patiño Lara, died at the nursing home from the virus on Saturday, although he was never diagnosed or taken to a hospital when symptoms appeared. The man, in his 80’s and suffering from advanced Alzheimer’s, was not removed until Sunday despite Núñez’s repeated calls to funeral home workers.Domusvi, the private company contracted by the Madrid regional government to run the Usera nursing home, confirmed that two residents died there over the weekend. A company spokeswoman, who declined to give her name, blamed the delay on funeral homes that failed to come quickly to take away the bodies.While most people suffer only mild or moderate symptoms, such as fever or coughing. from COVID-19, the disease caused by the virus, for older adults and people with existing health problems, it can cause far more severe illness, including pneumonia.Nursing homes worldwide have been especially hard hit. In the United States, several facilities have seen unusually high death tolls, and federal officials found that staff members who worked while sick at multiple long-term care facilities contributed to the spread of COVID-19 among vulnerable elderly in the Seattle area.On Monday, federal regulators gave the Life Care Center in Kirkland three weeks to address the serious infractions that have been linked to the death of at least 37 residents. The nursing home failed to identify and manage sick residents and failed to notify health authorities in a way that placed residents in “immediate jeopardy,” regulators found.Besides Washington state, burgeoning outbreaks at nursing homes in Illinois, New Jersey and elsewhere in the U.S. have underscored long-running problems in the industry. As in Spain as well as in Italy, France and elsewhere in Europe, among the biggest problems has been a critical staffing shortage.In Spain, the government announced last week that it would take over control of senior-care facilities from private companies and, as part of an unprecedented aid package, set aside 300 million euros ($323 million) for adding additional social workers and caretakers.Although Spanish households have traditionally included three generations living under one roof, nursing homes have mushroomed across the country over the past two decades, with multinationals and investment funds entering the lucrative business. According to Spain’s official scientific research body, CSIC, there were 373,000 people in more than 5,400 nursing homes across the country in 2019.Miguel Vázquez, the president of Pladigmare, an association that fights for better conditions in Spain’s nursing homes, said the virus pandemic has forced a spotlight on the lack of personnel and resources that the wave of profit-seeking private investors has brought to the business of running the facilities.”Spain has turned a right to being properly cared for, as enshrined in our laws, into a business that benefits from saving costs,” Vázquez said, adding that private facilities have been even more opaque than usual since authorities trying to halt the spread of the coronavirus closed the residences to visitors earlier this month.“Now that relatives can’t get in, we don’t really know what’s going on there,” he said, adding that the situation was even more dire in the Spanish capital, where 92% of some 400 nursing homes are privately owned or managed.The head of AETE, which represents the country’s largest for-profit nursing home businesses, said that criticism for “localized problems” should not be extended to the whole industry, which he said has been urging authorities to provide additional protective gear for weeks.Jose Cubero also said that overburdened hospitals in Madrid were rejecting patients with COVID-19 from nursing homes.“We provide assistance but we are not health care facilities. The elderly also have the right to be treated in hospitals,” Cubero said.Simón, the doctor appointed by the Spanish government to co-ordinate its response to the outbreak, said that over 5,400 health workers have been infected by the coronavirus.“Everyone has been making a titanic effort, especially our health workers,” government spokeswoman María Jesús Montero told a televised daily news conference, where journalists submitted questions via messaging apps.At the Palacio de Hielo ice skating rink-turned-makeshift-morgue on the outskirts of Madrid, security forces guarded the premises as funeral vans entered the building via an underground car park. Madrid authorities took up the rink’s offer after the city’s municipal funeral service said it could take no more coronavirus victims until it restocked with more protective equipment.The city government said bodies would be held at the rink until they can be taken to be cremated or buried.Madrid has also turned two city hotels into hospitals to help with the overflow of virus patients and plans to convert five others. Madrid’s hotel association has offered 40 hotels to help medical workers. Madrid also set up a field hospital in the Ifema trade fair complex, where the U.N. climate conference COP25 was held in December.___Follow AP coverage of the virus outbreak at https://apnews.com/VirusOutbreak and https://apnews.com/UnderstandingtheOutbreakCiaráN Giles And Aritz Parra, The Associated Press

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Roots sees room for expansion in activewear, reports $5.2M Q2 loss and sales drop

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TORONTO – Roots Corp. may have built its brand on all things comfy and cosy, but its CEO says activewear is now “really becoming a core part” of the brand.

The category, which at Roots spans leggings, tracksuits, sports bras and bike shorts, has seen such sustained double-digit growth that Meghan Roach plans to make it a key part of the business’ future.

“It’s an area … you will see us continue to expand upon,” she told analysts on a Friday call.

The Toronto-based retailer’s push into activewear has taken shape over many years and included several turns as the official designer and supplier of Team Canada’s Olympic uniform.

But consumers have had plenty of choice when it comes to workout gear and other apparel suited to their sporting needs. On top of the slew of athletic brands like Nike and Adidas, shoppers have also gravitated toward Lululemon Athletica Inc., Alo and Vuori, ramping up competition in the activewear category.

Roach feels Roots’ toehold in the category stems from the fit, feel and following its merchandise has cultivated.

“Our product really resonates with (shoppers) because you can wear it through multiple different use cases and occasions,” she said.

“We’ve been seeing customers come back again and again for some of these core products in our activewear collection.”

Her remarks came the same day as Roots revealed it lost $5.2 million in its latest quarter compared with a loss of $5.3 million in the same quarter last year.

The company said the second-quarter loss amounted to 13 cents per diluted share for the quarter ended Aug. 3, the same as a year earlier.

In presenting the results, Roach reminded analysts that the first half of the year is usually “seasonally small,” representing just 30 per cent of the company’s annual sales.

Sales for the second quarter totalled $47.7 million, down from $49.4 million in the same quarter last year.

The move lower came as direct-to-consumer sales amounted to $36.4 million, down from $37.1 million a year earlier, as comparable sales edged down 0.2 per cent.

The numbers reflect the fact that Roots continued to grapple with inventory challenges in the company’s Cooper fleece line that first cropped up in its previous quarter.

Roots recently began to use artificial intelligence to assist with daily inventory replenishments and said more tools helping with allocation will go live in the next quarter.

Beyond that time period, the company intends to keep exploring AI and renovate more of its stores.

It will also re-evaluate its design ranks.

Roots announced Friday that chief product officer Karuna Scheinfeld has stepped down.

Rather than fill the role, the company plans to hire senior level design talent with international experience in the outdoor and activewear sectors who will take on tasks previously done by the chief product officer.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:ROOT)

The Canadian Press. All rights reserved.

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Talks on today over HandyDART strike affecting vulnerable people in Metro Vancouver

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VANCOUVER – Mediated talks between the union representing HandyDART workers in Metro Vancouver and its employer, Transdev, are set to resume today as a strike that has stopped most services drags into a second week.

No timeline has been set for the length of the negotiations, but Joe McCann, president of the Amalgamated Transit Union Local 1724, says they are willing to stay there as long as it takes, even if talks drag on all night.

About 600 employees of the door-to-door transit service for people unable to navigate the conventional transit system have been on strike since last Tuesday, pausing service for all but essential medical trips.

Hundreds of drivers rallied outside TransLink’s head office earlier this week, calling for the transportation provider to intervene in the dispute with Transdev, which was contracted to oversee HandyDART service.

Transdev said earlier this week that it will provide a reply to the union’s latest proposal on Thursday.

A statement from the company said it “strongly believes” that their employees deserve fair wages, and that a fair contract “must balance the needs of their employees, clients and taxpayers.”

This report by The Canadian Press was first published Sept. 12, 2024.

The Canadian Press. All rights reserved.

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Transat AT reports $39.9M Q3 loss compared with $57.3M profit a year earlier

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MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.

The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.

The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.

Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.

On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.

Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:TRZ)

The Canadian Press. All rights reserved.

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