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B.C. premier confident businesses pledging to defy vaccine passport are a minority – News 1130

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VANCOUVER (NEWS 1130) — Premier John Horgan says he is confident the majority of British Columbians support the recently-announced COVID-19 vaccine passport, despite some business owners saying they have no plan to ask customers to comply.

On Thursday, Horgan said the number of people who have already received shots shows that most people in the province are on board.

“This is a majority issue, almost 85 per cent of British Columbians have had a first dose 75 per cent a second dose. Those British Columbians want to know when they go to a hockey game, or the theatre, or out for a dinner, that the people that they’re associating with have taken the same steps to protect themselves and their family,” he said.

“These are issues that are supported overwhelmingly in the community and for those who don’t support them, that’s regrettable.”

B.C.’s proof of vaccination system is set to be introduced on Sept. 13. It will limit which non-essential services, businesses, and events unvaccinated people will be able to go to. The exact details have yet to be announced, but concerns are already being raised that a digital option is not accessible to people without smartphones, and that there are no medical exemptions. Business leaders who support the move have raised concerns about enforcement, worrying about the burden it will put on staff.

Horgan said there are bound to be some issues and challenges with implementation, but the move came at the behest of businesses.

“In my engagements with people, most of them understand that this is uncharted territory — all of it. Every step is a new step for us in dealing with a global pandemic,” He said.

“We’re taking measured steps based on advice from business and if some businesses want to disregard that, then patrons will decide where they want to go. Consumers are supporting this and I think that’s why most businesses are excited about it.”

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Meantime, A Facebook group dedicated to opposing the vaccine passport, saying it is unconstitutional, has grown to more than 80,000 members.

“We believe in medical privacy, and your own personal choice. Our Charter Rights and Freedoms are inalienable, and paramount. Let’s all stand together, and stand for a free Canada and support the businesses that share our values,” the group description reads. Businesses that say they won’t comply with the requirement to get proof of vaccination from customers include diners, gyms, a welding company, a funeral parlour, hairdressers, and dogwalkers.

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Demands for COVID-19 vaccine spikes after ‘passport’ announced

Horgan also noted a spike in people showing up to get the shot since the proof of vaccination requirement was announced.

“If people are rushing to get vaccines to meet the needs of the vaccine card I think that’s good news,” he sais, adding he doesn’t think the province should have made the move sooner.

“I think the timing is about right, quite frankly. I don’t think we should have been more aggressive or less aggressive.”

Overall, Horgan touted B.C.’s vacine rollout as a success and characterized the vaccine requirement as the “last push”

The vast majority of British Columbians have been on board here, to work together collaboratively so we can collectively get out of this. We made vaccines available, people registered, people waited their turn,” he said.

“Other jurisdictions have had have and promised chances for new cars. I think British Columbians have been on this program from the beginning, that’s why we have such an extraordinary uptake on the vaccines.”

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Transat AT reports $39.9M Q3 loss compared with $57.3M profit a year earlier

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MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.

The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.

The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.

Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.

On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.

Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:TRZ)

The Canadian Press. All rights reserved.

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Dollarama keeping an eye on competitors as Loblaw launches new ultra-discount chain

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Dollarama Inc.’s food aisles may have expanded far beyond sweet treats or piles of gum by the checkout counter in recent years, but its chief executive maintains his company is “not in the grocery business,” even if it’s keeping an eye on the sector.

“It’s just one small part of our store,” Neil Rossy told analysts on a Wednesday call, where he was questioned about the company’s food merchandise and rivals playing in the same space.

“We will keep an eye on all retailers — like all retailers keep an eye on us — to make sure that we’re competitive and we understand what’s out there.”

Over the last decade and as consumers have more recently sought deals, Dollarama’s food merchandise has expanded to include bread and pantry staples like cereal, rice and pasta sold at prices on par or below supermarkets.

However, the competition in the discount segment of the market Dollarama operates in intensified recently when the country’s biggest grocery chain began piloting a new ultra-discount store.

The No Name stores being tested by Loblaw Cos. Ltd. in Windsor, St. Catharines and Brockville, Ont., are billed as 20 per cent cheaper than discount retail competitors including No Frills. The grocery giant is able to offer such cost savings by relying on a smaller store footprint, fewer chilled products and a hearty range of No Name merchandise.

Though Rossy brushed off notions that his company is a supermarket challenger, grocers aren’t off his radar.

“All retailers in Canada are realistic about the fact that everyone is everyone’s competition on any given item or category,” he said.

Rossy declined to reveal how much of the chain’s sales would overlap with Loblaw or the food category, arguing the vast variety of items Dollarama sells is its strength rather than its grocery products alone.

“What makes Dollarama Dollarama is a very wide assortment of different departments that somewhat represent the old five-and-dime local convenience store,” he said.

The breadth of Dollarama’s offerings helped carry the company to a second-quarter profit of $285.9 million, up from $245.8 million in the same quarter last year as its sales rose 7.4 per cent.

The retailer said Wednesday the profit amounted to $1.02 per diluted share for the 13-week period ended July 28, up from 86 cents per diluted share a year earlier.

The period the quarter covers includes the start of summer, when Rossy said the weather was “terrible.”

“The weather got slightly better towards the end of the summer and our sales certainly increased, but not enough to make up for the season’s horrible start,” he said.

Sales totalled $1.56 billion for the quarter, up from $1.46 billion in the same quarter last year.

Comparable store sales, a key metric for retailers, increased 4.7 per cent, while the average transaction was down2.2 per cent and traffic was up seven per cent, RBC analyst Irene Nattel pointed out.

She told investors in a note that the numbers reflect “solid demand as cautious consumers focus on core consumables and everyday essentials.”

Analysts have attributed such behaviour to interest rates that have been slow to drop and high prices of key consumer goods, which are weighing on household budgets.

To cope, many Canadians have spent more time seeking deals, trading down to more affordable brands and forgoing small luxuries they would treat themselves to in better economic times.

“When people feel squeezed, they tend to shy away from discretionary, focus on the basics,” Rossy said. “When people are feeling good about their wallet, they tend to be more lax about the basics and more willing to spend on discretionary.”

The current economic situation has drawn in not just the average Canadian looking to save a buck or two, but also wealthier consumers.

“When the entire economy is feeling slightly squeezed, we get more consumers who might not have to or want to shop at a Dollarama generally or who enjoy shopping at a Dollarama but have the luxury of not having to worry about the price in some other store that they happen to be standing in that has those goods,” Rossy said.

“Well, when times are tougher, they’ll consider the extra five minutes to go to the store next door.”

This report by The Canadian Press was first published Sept. 11, 2024.

Companies in this story: (TSX:DOL)

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U.S. regulator fines TD Bank US$28M for faulty consumer reports

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TORONTO – The U.S. Consumer Financial Protection Bureau has ordered TD Bank Group to pay US$28 million for repeatedly sharing inaccurate, negative information about its customers to consumer reporting companies.

The agency says TD has to pay US$7.76 million in total to tens of thousands of victims of its illegal actions, along with a US$20 million civil penalty.

It says TD shared information that contained systemic errors about credit card and bank deposit accounts to consumer reporting companies, which can include credit reports as well as screening reports for tenants and employees and other background checks.

CFPB director Rohit Chopra says in a statement that TD threatened the consumer reports of customers with fraudulent information then “barely lifted a finger to fix it,” and that regulators will need to “focus major attention” on TD Bank to change its course.

TD says in a statement it self-identified these issues and proactively worked to improve its practices, and that it is committed to delivering on its responsibilities to its customers.

The bank also faces scrutiny in the U.S. over its anti-money laundering program where it expects to pay more than US$3 billion in monetary penalties to resolve.

This report by The Canadian Press was first published Sept. 11, 2024.

Companies in this story: (TSX:TD)

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