As B.C. looks to introduce new restrictions Tuesday amid a rise in COVID-19 cases, experts are warning about the upcoming holiday season.
COVID-19 Modeller Caroline Colijn said the latest modelling suggests a “steep rise” in cases, about 20 to 25 per cent more a day. She said this represents a doubling time of just a few days for cases and this is a “real cause for concern.”
“If things double every two days, when you have two or four cases, that’s OK, but when there’s 200 and you get to 400 and 800 very very quickly, as we’re starting to see, that’s a real challenge just for the sheer number and volume of cases.”
5:29 COVID-19: Omicron is rapidly replacing the Delta variant as the dominant strain in B.C.
COVID-19: Omicron is rapidly replacing the Delta variant as the dominant strain in B.C.
Colijn said all the previous variants rose much slower in cases than what experts are seeing in Omicron.
“It is much faster than any other variant we’ve seen so far,” she added.
The issue will be if the sheer volume of cases overwhelms the hospitals, Colijn said, adding they are seeing booster shots offering additional protection from the variant.
“I think we won’t win the race with boosters, but they are very important and may be the most important tool we will have against Omicron,” she said.
“I think it’s also important for people to remember they have a lot of control over what happens with Omicron.”
“So if you are not yet vaccinated, now’s the time, if you are offered a booster, now’s the time. But we can also upgrade our masks, open windows, keep gatherings small, keep ventilation good and those sorts of choices will keep bending the curve as well.”
5:01 Slowing down the spread of Omicron with boosters
Slowing down the spread of Omicron with boosters
University of Saskatchewan epidemiologist Nazeem Muhajarine said they are seeing Omicron spread at a “frightening speed” across Canada, including in B.C.
Cases of COVID-19 in B.C. soared over the weekend with another 2,550 new infections reported.
There were 911 detected between Friday and Saturday, 832 from Saturday to Sunday and 807 from Sunday to Monday.
“I think in about two to three weeks, when we have seen our cases rise over the last two weeks or so, we will see whether (Omicron) is having those severe consequences that we are so concerned about,” Muhajarine said.
He cited the United Kingdom and the state of New York in the U.S. as areas experts are watching “very closely” to see how Omicron spreads.
British Prime Minister Boris Johnson said on Tuesday he would not be introducing any new COVID-19 restrictions in England before Christmas, but that he could not rule out implementing further measures after the winter holidays as the Omicron variant spreads.
1:44 U.K.’s Johnson rules out any new COVID-19 restrictions before Christmas
U.K.’s Johnson rules out any new COVID-19 restrictions before Christmas
“I think we have to be very guarded in jumping to conclusions that this variant is not as severe as other variants,” Muhajarine added. “It’s too soon to tell.”
CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.
It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.
The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.
Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.
TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.
The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 7, 2024.
BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.
The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.
On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.
“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.
“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”
Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.
BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.
The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.
BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.
It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.
The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”
Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.
This report by The Canadian Press was first published Nov. 7, 2024.
TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.
The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.
Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.
On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.
In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.
It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.
This report by The Canadian Press was first published Nov. 7, 2024.
