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At least 4 million Canadians need vaccines for country to look at reopening economy: RBC – CTV News

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TORONTO —
Royal Bank of Canada’s chief executive says it will take a few million people getting vaccinated against COVID-19 for the country’s economic rebound to get on track.

“We believe roughly four and 4.5 million high-risk Canadians will have to be vaccinated before we can really get back to reopening the economy and we can achieve that within 100 days, if we have the vaccines,” Dave McKay said.

The CEO’s remarks were made on Monday morning, as the number of doses of COVID-19 vaccines administered in Canada hit 319,938. Efforts to get more shots in arms are ramping up as more supply arrives, but there are at least 38 million people living in the country.

McKay made his predictions while opening his company’s Canadian Bank CEO conference, which is being held virtually and is due to feature appearances from all of the country’s top bank leaders.

The leaders that spoke early in the day agreed that Canada is in the midst of an economic rebound, but how fast that recovery takes hold will depend on the country’s ability to get the pandemic under control.

In provinces like Ontario and Quebec, COVID-19 cases are spiking higher than they have throughout the whole pandemic, fuelling more layoffs, shutdowns, curfews and in many cases, less spending.

Once people are vaccinated, McKay believes those who have been sitting on cash and not spending it because so many things are closed will race back to pastimes like travel and entertainment.

But timing around when that will happen is still a big question.

Most businesses in provinces like Ontario remain closed and Quebec has gone as far as implementing a curfew to curtail cases. Some public health advocates and politicians are calling for similar measures to be implemented elsewhere.

Darryl White, Bank of Montreal’s chief executive, said he expects the next two to four months to be a “difficult” period, but there have been some positives.

“We are just not seeing the impaired losses coming in at the rate people would have expected,” he said.

Government aid, he said, has managed to offset many of the delinquencies people expected and banks spent much of last year building up strong reserves to protect themselves from people defaulting on loans.

For a rebound to really take shape, McKay believes government relief will have to continue and become focused on areas of the economy that are expected to take longer to recover like small businesses, hospitality businesses and transportation companies.

The negatives are all in these areas because they are part of the “discretionary” economy, said Victor Dodig, Canadian Imperial Bank of Commerce’s chief executive.

“We are looking into the following fiscal year before you are seeing any robustness there,” he said.

When a rebound comes, so will change at banks.

Dodig has noticed people shift rapidly to online banking during the pandemic and even those who were using digital options before the virus began circulating are moving more of their transactions online.

CIBC recently transformed 250 or one quarter of its banking centres into advice centres because digitization was accelerated by the health crisis, he said.

Over at RBC, McKay said that many bank branched have been temporarily closed or operating with reduced hours throughout the pandemic.

The bank has closed some branches and McKay expects to pare back another three or four per cent over the coming year, he said.

That equates to between 30 and 50 branches, according to McKay.

He believes branch footprints can be reduced and the bank can get more flexibility by focusing on shorter leases, but how it should approach branches will depend on the recovery.

“Everything is positioned to watch how clients come back and how they use the branch,” he said.

“A lot of client activity still goes through our branches, but we will see what sticks with consumers and what changes through all of this.”

This report by The Canadian Press was first published Jan. 11, 2021

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My Boy Prince to race against older horses in $1-million Woodbine Mile

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TORONTO – He’s firmly among Canada’s top three-year-olds but My Boy Prince faces a stiff test Saturday at Woodbine Racetrack.

The ’24 King’s Plate runner-up will be part of a global field in the $1-million Woodbine Mile turf event. Not only will it be My Boy Prince’s first race against older competition but among the seven other starters will be such horses as Naval Power (Great Britain), Big Rock (France) and Filo Di Arianna (Brazil).

My Boy Prince will race for the first time since finishing second to filly Caitlinhergrtness in the Plate on Aug. 23.

“It’s his first try against older horses and it’s hard to say where he fits in,” said trainer Mark Casse. “This time of year running a three-year-old against older horses, it’s like running a teenager against college athletes.

“We’re doing it because we believe a mile on the turf is his preferred surface … we wanted to give him a shot at this. (American owner Gary Barber) is someone who likes to think outside the box and take calculated risks so we’re going to see where he fits in.”

Casse, 16 times Canada’s top trainer, is a Hall of Famer both here and in the U.S. He’s also a two-time Woodbine Mile winner with filly Tepin (2016) and World Approval (2017).

Sahin Civaci will again ride My Boy Prince, Canada’s top two-year-old male who has six wins and 10 money finishes (6-3-1) in 11 career starts. The horse will be one of three Casse trainees in the race with Filo Di Arianna (ridden by Sovereign Award winner Kazushi Kimura) and Win for the Money (veteran Woodbine jockey Patrick Husbands aboard).

Naval Power, a four-year-old, has finished in the money in eight of nine starts (six wins, twice second) and will race in Canada for the first time. He comes to Woodbine with second-place finishes in two Grade 1 turf races.

Big Rock, another four-year-old, makes his North American debut Saturday. The horse has five wins and five second-place finishes in 14 starts but has struggled in ’24, finishing sixth, 10th and fifth in three races.

Filo Di Arianna is a four-time graded stakes winner with nine victories, three seconds and a third from 17 starts. It was Canada’s ’22 top male sprinter and champion male turf horse.

Other starters include Playmea Tune, Niagara Skyline and Secret Reserve.

Playmea Tune, a four-year-old, is trained by Josie Carrol. The gelding has made three starts, winning twice and finishing second in the Grade 3 Bold Venture on Aug. 23.

Woodbine-based Niagara Skyline is a six-year-old with 13 money finishes (six wins, five seconds, twice third) in 24-lifetime starts. The John Charlambous trainee has reached the podium (1-1-1) in all three races this year.

Secret Reserve, also a six-year-old, has finished in the money in 15-of-26 starts (six wins, one second, eight thirds). The horse, at 44-1, was third in the Grade 2 King Edward Stakes over a mile on the E.P. Taylor turf course.

The Mile highlights a stellar card featuring six graded stakes races. Also on tap are the $750,000 E.P. Taylor Stakes (fillies and mares), $500,000 bet365 Summer Stakes (two-year-olds) and $500,000 Johnnie Walker Natalma Stakes (two-year-old fillies), all Grade 1 turf events.

The Mile, Natalma and Summer winners earn automatic entries into the Breeders’ Cup at Del Mar in November.

Casse has won all four races, earning his first E.P. Taylor title last year with filly Fev Rover, Canada’s horse of the year and champion female turf horse. Fev Rover will defend her title Saturday against a field that includes Moira, the ’22 King’s Plate winner and Canada’s horse of the year trained by Woodbine’s Kevin Attard.

“It (E.P. Taylor) was definitely on my bucket list because it had eluded us,” Casse said. “But I honestly hadn’t realized I’d won all four of them, hadn’t really thought about it.”

Casse will have horses in all four turf races Saturday. Arguably the most intriguing matchup will be between Moira and Fev Rover, who ran 1-2, respectively, in a photo finish Aug. 11 in the Grade 2 Beverly D. Stakes, a 1 3/16-mile turf race, at Virginia’s Colonial Downs.

“What’s funny is the two of them went all the way to Virginia and she beat us by a nose,” Casse said. “We could’ve done that at Woodbine.

“There’s two of the best fillies in the world both from Toronto and they’re going to be competing Saturday.”

Some question having so many solid races on a single card but Casse likes the strategy.

“I think it’s a good thing,” he said. “On Saturday, the main focus on horse racing in the world will be on Woodbine and that’s because it’s such a great card.

“It’s an international day, there’s horses coming from everywhere and we’re going to do our best to represent Canada.”

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



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Former world No. 1 Sharapova wins fan vote for International Tennis Hall of Fame

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NEWPORT, R.I. (AP) — Maria Sharapova, a five-time Grand Slam singles champion, led the International Tennis Hall of Fame’s fan vote her first year on the ballot — an important part to possible selection to the hall’s next class.

The organization released the voting results Friday. American doubles team Bob and Mike Bryan finished second with Canada’s Daniel Nestor third.

The Hall of Fame said tens of thousands of fans from 120 countries cast ballots. Fan voting is one of two steps in the hall’s selection process. The second is an official group of journalists, historians, and Hall of Famers from the sport who vote on the ballot for the hall’s class of 2025.

“I am incredibly grateful to the fans all around the world who supported me during the International Tennis Hall of Fame’s fan votes,” Sharapova said in a statement. “It is a tremendous honor to be considered for the Hall of Fame, and having the fans’ support makes it all the more special.”

Sharapova became the first Russian woman to reach No. 1 in the world. She won Wimbledon in 2004, the U.S. Open in 2006 and the Australian Open in 2008. She also won the French Open twice, in 2012 and 2014.

Sharapova was also part of Russia’s championship Fed Cup team in 2008 and won a silver medal at the London Olympics in 2012.

To make the hall, candidates must receive 75% or higher on combined results of the official voting group and additional percentage from the fan vote. Sharapova will have an additional three percentage points from winning the fan vote.

The Bryans, who won 16 Grand Slam doubles titles, will have two additional percentage points and Nestor, who won eight Grand Slam doubles titles, will get one extra percentage point.

The hall’s next class will be announced late next month.

___

AP tennis:

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United Airlines will offer free internet on flights using service from Elon Musk’s SpaceX

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CHICAGO (AP) — United Airlines has struck a deal with Elon Musk’s SpaceX to offer satellite-based Starlink WiFi service on flights within the next several years.

The airline said Friday the service will be free to passengers.

United said it will begin testing the service early next year and begin offering it on some flights by later in 2025.

Financial details of the deal were not disclosed.

The announcement comes as airlines rush to offer more amenities as a way to stand out when passengers pick a carrier for a trip. United’s goal is to make sitting on a plane pretty much like being on the ground when it comes to browsing the internet, streaming entertainment and playing games.

“Everything you can do on the ground, you’ll soon be able to do on board a United plane at 35,000 feet, just about anywhere in the world,” CEO Scott Kirby said in announcing the deal.

The airline says Starlink will allow passengers to get internet access even over oceans and polar regions where traditional cell or Wi-Fi signals may be weak or missing.

The Canadian Press. All rights reserved.



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