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Canada boosts vaccine order by tapping global pool originally set up for poorer nations – National Post

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4 years ago

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Canada has struggled to maintain steady vaccine supplies, with early order volumes lagging those of peer countries, such as the U.S., the U.K. and Israel. Low initial order volumes have been exacerbated by production-related shortages in expected shipments from Pfizer and Moderna, the only two vaccines approved so far by Health Canada. Canada got no doses at all last week, and this week is getting only 20 per cent of what was promised from Pfizer and 80 per cent of what Moderna promised. Provinces and territories, which in mid-January got close to vaccinating 50,000 people a day, only vaccinated 5,000 people on Jan. 31.

Canada and other developed countries have been criticized for using their wealth and influence to snap up a majority of vaccines for themselves. COVAX was supposed to prevent that, and International Development Minister Karina Gould said Wednesday that Canada continues to support that goal, and that Ottawa was only drawing from the COVAX supply of doses available to donor countries.

“We’ve been clear from the start. Canada is strongly determined to vaccinate Canadians while making sure that the rest of the world is not getting left behind. Our participation into COVAX is a concrete example of that,” her office said in a statement. “Our contribution to the global mechanism had always been intended to access vaccine doses for Canadians as well as to support lower income countries.”

The World Health Organization recently asked wealthy countries to urgently start donating their surplus vaccine orders to COVAX for distribution to developing countries, where vaccination rates rank among the lowest in the world. “I urge countries that have contracted more vaccines than they will need, and are controlling the global supply, to donate and release them to COVAX immediately,” WHO Director-General Tedros Adhanom Ghebreyesus told reporters in Geneva last Friday. However, the Canadian government has said it is too early to commit to any such donations.

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Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

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13 hours ago

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November 6, 2024

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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)

The Canadian Press. All rights reserved.

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

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November 5, 2024

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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)

The Canadian Press. All rights reserved.

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

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2 days ago

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November 5, 2024

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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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