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Canada adds over 4,000 new coronavirus cases for 3rd straight day – Global News

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Canada added 4,302 new novel coronavirus infections on Tuesday, bringing the country’s total case count to 272,762.

Provincial health authorities also said 68 more people have died after testing positive for COVID-19.

Since the pandemic began, a total of 10,632 people have died in Canada after contracting the virus.

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More than 1,550 people are currently in hospital after contracting the respiratory illness.

However, Canada has seen 221,279 people recover after falling ill.

Read more:
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Speaking at a press conference on Tuesday, Prime Minister Justin Trudeau said Canada has been seeing a “significant rise” in COVID-19 cases.

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“And we know that people are trying to balance a time where people are getting tired and frustrated by COVID-19, but we also know that the best thing to do, to protect not just the health of Canadians but the health of our economy into the medium and long-term is to do what is necessary to keep people safe from COVID right now.”


Click to play video 'Coronavirus: Trudeau reacts to news Pfizer’s coronavirus vaccine may be 90% effective'



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Coronavirus: Trudeau reacts to news Pfizer’s coronavirus vaccine may be 90% effective


Coronavirus: Trudeau reacts to news Pfizer’s coronavirus vaccine may be 90% effective

He said the federal government is working hard to make it possible for local jurisdictions to “do the right thing” and shut down or impose restrictions to help limit the spread of the virus.

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Trudeau said vaccines are “on the horizon,” but added that “we are not there yet.”

“We need to make it through this winter, and in order to do that, we have to put the health of Canadians first, which is also the way to put the economy first,” he said.

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Ontario and Quebec each added more than 1,000 coronavirus cases on Tuesday, with 1,388 and 1,162 respectively.

Between the two provinces, 53 new deaths were reported.

In Manitoba, 383 new cases and five new deaths were reported.

Meanwhile, health officials said 127 new infections were detected in Saskatchewan, but the province’s death toll remained at 29.

Alberta reported 713 new cases on Tuesday, marking its highest daily increase since the pandemic began.

The province also saw seven more deaths associated with the virus, pushing the death toll to 376.

British Columbia added 525 new cases and three new deaths on Tuesday.

Read more:
‘Act now’: Trudeau urges provinces to strengthen coronavirus restrictions

In Atlantic Canada, four new cases were identified.

Nova Scotia reported three new infections and one new death, while one new case was detected in Prince Edward Island.

No new cases or fatalities associated with COVID-19 were reported in Newfoundland and Labrador or in New Brunswick.


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Pfizer-BioNTech coronavirus vaccine: The refrigeration problem no one is talking about


Pfizer-BioNTech coronavirus vaccine: The refrigeration problem no one is talking about

Canada’s territories did not report any new cases of the virus on Tuesday, either.

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To date, the Yukon, the Northwest Territories and Nunavut have seen 23, 10 and two cases respectively.

Yukon is the only Canadian territory to have reported a death associated with COVID-19.

By 7:30 p.m. ET on Tuesday, the number of coronavirus cases around the world stood at 51,318,353 according to a tally from Johns Hopkins University.

To date, the virus has claimed 1,269,507 lives globally.

The United States remained the epicentre of the virus on Tuesday, with more than 10.2 million cases and 239,521 fatalities.

© 2020 Global News, a division of Corus Entertainment Inc.

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Canada’s M&A boom fuels hiring spree, higher pay

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Record-breaking dealmaking in Canada is encouraging investment banks to beef up staffing, but the increased demand for bankers is forcing some to pay up in unique ways to attract new hires.

Canadian mergers and acquisitions (M&A) year to date surged to a record $206.5 billion and IPOs hit an all-time high of $5.6 billion, according to Refinitiv, after the pandemic crushed dealmaking in the first three quarters of 2020.

HSBC, JPMorgan Chase & Co and National Bank of Canada are expanding their M&A teams.

“It continues to be an active market with lots of active discussions with clients going on as well, and so that has absolutely spurred on a need to fortify the ranks within the teams,” said Scott Lampard, head of global banking for HSBC Bank Canada.

HSBC plans to boost overall investment banking headcount by 20%-25%, mainly at the analyst level to support pitching and executing deals, Lampard said.

PENT-UP DEMAND

With the pace of transaction expected to continue at pace, banks are paying more to hire and retain existing teams, offering a range of new services, like sending in a consultant to create the ideal home office, recruiters say.

“We’ve been doing this for nearly 20 years and we’ve never seen a market like this,” said Bill Vlaad, CEO at recruitment firm Vlaad and Company. “Everybody is scrambling,”

“Many of the banks have increased base salaries quite dramatically, mostly in 2021,” he said, adding salaries had increased 20%-40% across M&A roles.

“Now if you want to attract, you have to put something else on the table.”

To poach talent, banks are adding signing bonuses, extra vacation days, healthcare increases, special programs for mental wellness and home office perks, all tailored to individual requests, Vlaad said.

TD Securities, Barclays, CIBC World Markets are the top M&A advisers year to date. All three declined to comment on hiring plans.

Of the top deals announced this year, Rogers Communications Inc’s C$20 billion ($16.2 billion) bid for Shaw Communications Inc and Canadian National’s bid $33.6 billion offer for Kansas City Southern are the two biggest.

Despite the pandemic, five of the top six Canadian banks paid an average of C$3.1 billion ($2.50 billion) in total bonuses last year, up from C$2.9 billion ($2.34 billion) in 2019, an analysis of filings by Reuters showed.

Headcount at National Bank Finance will be up by four or five people in M&A versus the same time last year, David Savard, head of M&A at the bank, told Reuters.

That put the team at 28 for the large-cap M&A team and 10 for the mid-market team, he said, adding both areas were “booming”.

“There seems to be some pent-up demand for entrepreneurial-led companies and private companies doing M&A coming out of COVID,” he said.

David Rawlings, CEO for JPMorgan Canada, agreed headcount would be likely higher in the near future.

“We think activity will continue to be strong and are currently looking to selectively hire with a particular focus on senior diverse candidates,” said Rawlings.

($1 = 1.2453 Canadian dollars)

(Reporting by Maiya Keidan; Editing by Denny Thomas and Lisa Shumaker)

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French court overturns ruling saying sale of cannabidiol is illegal

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France’s highest appeals court on Wednesday overturned a ruling that stores in the country can’t legally sell cannabidiol (CBD), a non-psychotic compound related to cannabis that is being researched for a variety of medical applications.

Based on the free trade of goods within the European Union, the Cour de cassation ruled that judges could not find the sale of CBD in France illegal if it had been legally produced in a member state of the bloc.

The Court of Justice of the EU ruled last year that no national law can prohibit the sale of CBD legally produced in a member state, the French court also said.

“Without considering whether the substances seized had not been legally produced in another member state of the European Union, the court failed to provide a basis for its decision,” it said, referring to a ruling of a lower appeals court.

The Cour de cassation did not rule whether selling CBD in France was legal or not, and ordered a lower court to rule again on a case involving the owner of a shop selling CBD.

“We are happy”, CBD shop owner Mathieu Bensa, who was not involved in the case, told Reuters after the ruling.

“We did not understand why France was the last country in the European Union that had not given access to the sale of hemp plants”, he said.

Derived mainly from the hemp plant, CBD is increasingly used as a relaxant.

Cannabis stocks have attracted growing interest on world stock markets, particularly on the Toronto stock exchange after Canada became one of the first major economies to legalise the recreational use of marijuana.

Cannabis use is outlawed in France but the country has one of Europe’s highest consumption rates.

(Reporting by Matthieu Protard, Benoit Van Overstraeten and Ardee Napolitano; Editing by Mark Potter)

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Canada Energy Regulator allows resumption of Trans Mountain oil project

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The Canada Energy Regulator (CER) has issued a notice https://bit.ly/35Sm87H allowing Trans Mountain Corp to resume work on its Trans Mountain Expansion (TMX) oil pipeline project.

The company was ordered in April to halt work on a section of the project in Burnaby, British Columbia, for four months to protect hummingbird nests.

The C$12.6 billion ($10.17 billion) TMX project will nearly triple capacity of the pipeline, which runs from Edmonton in Alberta to the coast of British Columbia, to ship 890,000 barrels per day of crude and refined products when completed late 2022.

(Reporting by Arpan Varghese in Bengaluru; Editing by David Goodman)

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