If Quebec is the only jurisdiction in North America that orders factories to close, Proulx said, it will put the province’s manufacturing industry — which employs 450,000 people and accounts for 14 per cent of Quebec’s GDP — at a severe disadvantage.
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“If we’re shutting down and consumers continue to buy, as they did during the last shutdown, they’ll be buying from Amazon and they’ll be buying from other manufacturers who can actually continue to produce,” she said.
“The market share that these foreign companies are gaining is there to stay; it’s very difficult for Quebec manufacturers to win them back.”
Why do we want to shut down manufacturing now? What numbers are supporting this?
Veronique Proulx, CEO, Manufacturiers et Exportateurs du Quebec
Proulx said manufacturers have put measures in place to prevent the transmission of COVID-19, adding that while there may be room for stricter measures in some parts of the industry, she said hasn’t seen the data that supports shutting down the whole sector.
“Why do we want to shut down manufacturing now? What numbers are supporting this?” she said.
Quebec reported 2,508 new cases of COVID-19 Tuesday and 62 more deaths attributed to the novel coronavirus, including 17 that occurred in the past 24 hours. Health officials said hospitalizations rose by 23, to 1,317 — the highest number of patients in hospital with COVID-19 since late May — and 194 people were in intensive care, a rise of six.
The province says 2,529 doses of vaccine were administered Monday, for a total of 32,763. The test positivity rate in Quebec was 11 per cent on Jan. 3, the most recent date for which data is available, with 20,716 tests conducted.
Quebec has reported 215,358 cases of COVID-19 and 8,441 deaths linked to the virus since the beginning of the pandemic.
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This story was produced with the financial assistance of the Facebook and Canadian Press News Fellowship.
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.
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.
TORONTO – Thomson Reuters reported its third-quarter profit fell compared with a year ago as its revenue rose eight per cent.
The company, which keeps its books in U.S. dollars, says it earned US$301 million or 67 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$367 million or 80 cents US per diluted share in the same quarter a year earlier.
Revenue for the quarter totalled US$1.72 billion, up from US$1.59 billion a year earlier.
In its outlook, Thomson Reuters says it now expects organic revenue growth of 7.0 per cent for its full year, up from earlier expectations for growth of 6.5 per cent.
On an adjusted basis, Thomson Reuters says it earned 80 cents US per share in its latest quarter, down from an adjusted profit of 82 cents US per share in the same quarter last year.
The average analyst estimate had been for a profit of 76 cents US per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
