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Stock market news live updates: Stocks mixed as vaccine euphoria abates, tech selling continues – Yahoo Canada Finance

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The Canadian Press

Backers blast halt to Brazil trials of Chinese-made vaccine

SAO PAULO — Brazil’s health regulator has halted clinical trials of the potential coronavirus vaccine CoronaVac, citing an “adverse, serious event.”Adversaries of President Jair Bolsonaro said on Tuesday they feared the decision — posted Monday night on Anvisa’s website — was motivated not by science but by the leader’s political hostility to the country and state involved in producing the vaccine candidate.The potential vaccine is being developed by Chinese biopharmaceutical firm Sinovac and in Brazil would be mostly produced by Sao Paulo’s state-run Butantan Institute. About 10,000 volunteers are taking part in the phase three tests in one of the nations hardest hit by COVID-19.Sao Paulo state health authorities said in a press conference on Tuesday that Anvisa sent a single email at 8:40 p.m. saying the tests should be halted. They also said the incident with one of the trial volunteers was unrelated to the trials.“Such news coming the way it did causes our surprise, insecurity and, in our case, indignation,” said Dimas Covas, the head of the Butantan Institute.He said it was “impossible” that the volunteer’s incident had any relation to the tests.Anvisa did not describe the Oct. 29 event that prompted the halt. Covas said on TV Cultura late Monday that a volunteer had died, but on Tuesday he said he had just been giving a hypothetical example and could not confirm details about the case for ethical reasons.Sinovac issued a short statement in China on Tuesday saying it was in touch with Brazilian authorities and insisted, “The clinical study in Brazil is strictly carried out in accordance with GCP requirements and we are confident in the safety of the vaccine,” referring to Good Clinical Practice, a set of international standards for ethics and data quality in clinical research.Temporary halts of drug and vaccine testing are relatively common. In research involving thousands of participants, some are likely to fall ill. Pausing a study allows researchers to investigate whether an illness is a side effect or a coincidence. Last month, two drugmakers resumed testing of their prospective coronavirus vaccines in the U.S. after they were halted earlier.Sao Paulo health authorities said they had a meeting with Anvisa leaders earlier on Tuesday, but received no feedback on when the tests will be allowed to continue.“This is unpleasant news; it worries all volunteers that enrolled to take the shot,” Covas said. “This might raise doubts among those that still planned to volunteer.”The CoronaVac shot has already stirred controversy in Brazil, where President Bolsonaro has cast doubt on its prospective effectiveness. He publicly rejected it last month, saying Brazilians would not be used as guinea pigs. The declaration followed news that his health minister, Eduardo Pazuello, had agreed to purchase CoronaVac doses produced locally by Butantan.Bolsonaro has often expressed mistrust of China, particularly on the campaign trail in 2018, although he has softened his rhetoric somewhat in office. And the governor of the state producing the vaccine, Sao Paulo’s. João Doria, is a political rival and an outspoken critic of the president’s pandemic response.Bolsonaro took another jab at the Sinovac shot on Tuesday.“Death, invalidity, anomaly. This is the vaccine that Doria wanted to force all in Sao Paulo to take,” he wrote on his Facebook page. “The president said the vaccine should never be mandatory. Another one that Jair Bolsonaro wins.”João Gabbardo, the executive-secretary of Sao Paulo’s COVID-19 committee and until months ago the No. 2 at Brazil’s Health Ministry, criticized Bolsonaro’s statement without mentioning him.“What shocks us is that while everyone is rushing, doing what is possible so we have this vaccine available to the population, some people are betting on the opposite, coincidentally on the same day that the Sao Paulo government announces the arrival of the first doses of the vaccine,” he said.“Some people celebrate the fact that a death appeared to create this mess and try to denigrate a vaccine that is being produced in this partnership with the Chinese lab. It is very sad that I have to answer in such way.”Former President Fernando Henrique Cardoso, one of the leaders of Gov. Doria’s centre-right party, said Anvisa’s decision appeared to be unscientific.“What is happenning is regrettable; the politization of the vaccine that will rid us of the coronavirus…,” Cardoso said on Twitter. “Anvisa needs to explain. And quick.”CoronaVac is being tested in seven Brazilian states, plus the federal district where the capital Brasilia lies.Following the imbroglio last month surrounding the CoronaVac shot, Anvisa authorized the import from China of 6 million doses. The potential vaccine cannot be administered to Brazilians as it isn’t yet approved locally, the agency said at the time.Earlier Monday, Sao Paulo state’s health secretary, Jean Gorinchteyn, said the first 120,000 CoronaVac shots would arrive at Sao Paulo’s international airport Nov. 20, though he said, “They will only be taken to the public after a final authorization from Brazil’s health regulator.”The secretary added that nearly all of the volunteers who were given two doses of the vaccine produced antibodies thought to protect people from the virus.Sao Paulo is also importing raw material to produce40 million CoronaVac shots, which is due to start arriving Nov. 27.___Associated Press writer Huizhong Wu in Taipei, Taiwan, contributed to this story.Mauricio Savarese And David Biller, The Associated Press

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Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

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TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.

The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.

The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.

The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.

Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.

Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.

This report by The Canadian Press was first published Nov. 6, 2024.

Companies in this story: (TSX:CGX)

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Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

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TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

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Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

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ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

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