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Twelve new cases reported Thursday, Health Unit wants people to get back to basics – Owen Sound Sun Times

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This undated electron microscope image made available by the U.S. National Institutes of Health in February 2020 shows the Novel Coronavirus SARS-CoV-2, orange, emerging from the surface of cells, green, cultured in the lab. Also known as 2019-nCoV, the virus causes COVID-19. The sample was isolated from a patient in the U.S.

The Canadian Press

Twelve new cases of COVID-19 were reported by the Grey Bruce Health Unit Thursday as public health officials implored residents to get back to the basics of fighting the virus.

According to Thursday’s report, there are 17 probable cases and 211 high-risk contacts to go along with the 53 confirmed active COVID-19 cases now in the region.

The new cases were reported in Southgate (6), Hanover (2), Owen Sound, The Blue Mountains, Kincardine and Grey Highlands.

The health unit also announced Thursday that there is a COVID-19 case associated with Sacred Heart High School in Walkerton. Staff and students who have had close contact with the affected case have been notified by public health and are isolating. The school is not under a COVID-19 outbreak because there has so far been no evidence of transmission within the school.

A media release distributed by the health unit moments before Thursday’s summary of cases said that if this trend continues, case management and contact tracing used to maintain control of the situation will be challenged.

“Based on the increase in numbers, most likely, the Grey Bruce Health Unit will be moving from the Green to the Yellow level of Ontario’s COVID-19 colour-coded framework in the imminent future. This means greater restrictions and enhanced enforcement – including operational restrictions on bars and restaurants, sports and recreational facilities, personal care services, retail spaces and other businesses – an outcome that none of us desires. Collectively, it is in our control to change course,” the release said.

Dr. Ian Arra, Grey Bruce’s medical officer of health, said COVID-19 fatigue is partly to blame for the trend. He wants Grey-Bruce residents to refocus on the basic measures of preventing transmission such as washing hands, wearing a mask in public places, avoiding crowds, keeping a safe distance and staying home when sick.

“Hopefully with the increased number of cases, people are going to become more concerned and the engagement will be invested, or people will be more mindful,” Arra said.

So far, Arra said, the health unit has been able to make contact with all positive COVID-19 cases within 24-hours, but as cases become more varied and spread out that may be more difficult.

The health unit is also suggesting people avoid travel to COVID-19 hotspots and minimize non-essential travel altogether.

“People need to go back to the basics. If there is no essential reason, people really shouldn’t just be going somewhere for the sake of visiting or any other reason,” Arra said.

He said that about half of the cases in the past four or five weeks have been related to somebody travelling to a different health unit or hot-spot, or having a friend from another area visit them.

Of the 256 people in Grey-Bruce to contract COVID-19, 189 have recovered and 14 have been referred to other health units.

Two patients are currently hospitalized in Grey-Bruce with confirmed cases of COVID-19. No deaths have been attributed to the disease locally, and there are currently no COVID-19 outbreaks at any local long-term care facilities, daycares of schools in Grey-Bruce.

Public health units throughout Ontario reported 1,210 new cases of COVID-19 Thursday. Most of the new cases were reported in Peel Region (361) and Toronto (346). There were 143 cases reported in York Region. Eleven additional health units reported new cases in the double digits.

There are at least 526 people in Ontario hospitals with confirmed cases of COVID-19 and 88 on ventilators.

Twenty-eight more deaths were linked to the disease Thursday.

Bruce Power has launched a $1 million commitment to help Grey-Bruce double down in its efforts to limit transmission of the COVID-19 virus.

“Focused on Grey, Bruce and Huron counties, the company will make a $1 million commitment and work with public health, county and municipal governments, chambers of commerce, hospitals, local MPs and MPPs, and community organizations to redouble efforts to battle the pandemic,” the company said Thursday in a news release.

The “Be a Light: Beating COVID-19 Together” campaign will focus on five areas: public awareness, providing protection, buying local, mental and physical health and lending a helping hand.

“In the coming days, Bruce Power will be announcing specific contributions and initiatives associated with each of these five areas as time and action is of the essence to respond to the urgent situation Ontario and our communities face,” the release stated.

Bruce Power said it will utilize community media to help reinforce guidance from local public health officials while continuing to help source personal protective equipment and monitoring equipment.

Bruce Power also announced a $50,000 investment to leverage the Grey-Bruce-Huron Strong platform to support local businesses.

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Japan’s SoftBank returns to profit after gains at Vision Fund and other investments

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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.

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Yuri Kageyama is on X:

The Canadian Press. All rights reserved.

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Trump campaign promises unlikely to harm entrepreneurship: Shopify CFO

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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.

Companies in this story: (TSX:SHOP)

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RioCan cuts nearly 10 per cent staff in efficiency push as condo market slows

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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.

Companies in this story: (TSX:REI.UN)

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