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Canada's COVID-19 cases: Largest single-day spike after jurisdictions report 2,558 new patients – Yahoo News Canada

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On Friday, Oct. 9, jurisdictions around Canada reported 2,558 new cases of COVID-19, along with 31 fatalities and 2,016 recently recovered patients.

Alberta and Quebec combined to withdraw three deaths from previous dates. However, the nationwide updates have increased Canada’s active case count by 514, leaving 19,008 currently infected patients around the country.

The 2,558 new cases that were announced on Friday marks the largest single-day spike Canada has recorded throughout the pandemic. It surpasses the 2,437 cases that were announced on Thursday.

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The latest modelling data was presented Friday by Canada’s Chief Public Health Officer Dr. Theresa Tam. If people don’t start to limit their contacts, we could be seeing up to 5,000 cases a day by late October to early November.” data-reactid=”19″>The latest modelling data was presented Friday by Canada’s Chief Public Health Officer Dr. Theresa Tam. If people don’t start to limit their contacts, we could be seeing up to 5,000 cases a day by late October to early November.

“We’re at a tipping point in this pandemic,” said Prime Minister Justin Trudeau on Friday morning while reflecting on the rise in cases nationwide.

Ontario started the day reporting a record-high 939 new COVID-19 patients. The update is part of a worrisome trend that has been developing in Canada’s most populous province, which has led to Premier Doug Ford announcing new restrictions for its three hotspots.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In New Brunswick, the first school related case has been identified in the Campbellton region, forcing a temporary closure of the high school. Due to a recent spike in cases in the Campbellton and Moncton regions, health officials have imposed new restrictions for those areas.” data-reactid=”22″>In New Brunswick, the first school related case has been identified in the Campbellton region, forcing a temporary closure of the high school. Due to a recent spike in cases in the Campbellton and Moncton regions, health officials have imposed new restrictions for those areas.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For more on today’s top stories and the spread of the&nbsp;novel coronavirus across the country, please refer to our live updates below throughout the day, as well as our&nbsp;COVID-19 news hub.” data-reactid=”23″>For more on today’s top stories and the spread of the novel coronavirus across the country, please refer to our live updates below throughout the day, as well as our COVID-19 news hub.

19,008 active COVID-19 cases in Canada: 178,117 diagnoses, 9,585 deaths and 149,524 recoveries (as of Oct. 9, 6:30 p.m. ET)

  • Alberta – 2,225 active cases (19,995 total cases, including 282 deaths, 17,488 resolved)

  • British Columbia – 1,406 active cases (10,185 total cases, 245 deaths, 8,502 resolved)

  • Manitoba – 933 active cases (2,428 total cases, 30 deaths, 1,465 resolved)

  • New Brunswick – 37 active cases (238 cases, 2 deaths, 199 resolved)

  • Newfoundland and Labrador – 6 active case (279 total cases, 4 deaths, 269 resolved)

  • Northwest Territories – 0 active cases (5 total cases, 5 resolved)

  • Nova Scotia – 3 active cases (1,089 total cases, 65 deaths 1,021 resolved)

  • Ontario – 5,652 active cases (57,681 total cases, 2,997 deaths, 49,032 resolved)

  • Prince Edward Island – 3 active case (61 total cases, 58 resolved)

  • Quebec –  8,572 active cases (84,094 total cases, 5,936 deaths, 69,586 resolved)

  • Saskatchewan – 139 active cases (2,034 total cases, 24 deaths, 1,871 resolved)

  • Yukon – 0 active cases (15 total cases, 15 resolved)

  • Nunavut – 0 active cases (no resident cases)

  • CFB Trenton – 0 active cases (13 total cases, 13 resolved)

Ontario sees record-high increase, leading to more restrictions

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Ontario reported a record-high 939 new daily cases of COVID-19, which has prompted Doug Ford’s provincial government to impose new restrictions on hotspots Toronto, Peel Region and Ottawa.” data-reactid=”41″>Ontario reported a record-high 939 new daily cases of COVID-19, which has prompted Doug Ford’s provincial government to impose new restrictions on hotspots Toronto, Peel Region and Ottawa.

It’s the 12th straight day the province has exceeded the 500-case mark. Ontario’s daily case count continues to increase, breaking its own record on four occasions over two weeks. Before the recent stretch, the province had not reported more than 500 cases since May 2.

“My friends, the situation today is extremely serious,” said Premier Doug Ford. “All trends are going in the wrong direction.”

Of the most recent 939 cases, 336 were identified in Toronto, 150 in Peel, 126 in Ottawa, 68 in York, 59 in Halton, 40 in Hamilton, 32 in Durham, 28 in Simcoe-Muskoka and 24 in Middlesex-London. The remaining 25 public health units reported fewer than 20 cases, while nine of them reported no new patients at all.

The latest patients were identified after the province completed 44,914 tests. The 2.1 per cent positivity rate is the highest it has recorded since June 7.

There are 358 new cases among those 20-39 years old, the most of any age group. There are 266 new cases among those 40-59, 156 among those 19 and under, and 153 involving those who are at least 60 years old. Twelve of the patients involve long-term care residents and 12 involve health-care workers.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In K-12 schools across Ontario, there are 56 new cases of COVID-19. That includes 32 among students, nine among staff and 15 that have not yet been identified by the Ministry of Health. Fourteen more schools have reported their first patients in the latest 24-hour stretch. Since they reopened in September, there have been 876 total cases among 429 learning institutions. Four of the province’s 4,828 schools have been forced to close.” data-reactid=”51″>In K-12 schools across Ontario, there are 56 new cases of COVID-19. That includes 32 among students, nine among staff and 15 that have not yet been identified by the Ministry of Health. Fourteen more schools have reported their first patients in the latest 24-hour stretch. Since they reopened in September, there have been 876 total cases among 429 learning institutions. Four of the province’s 4,828 schools have been forced to close.

In the latest 24-hour stretch, five more people have died, including two long-term care residents. In addition, 724 patients have recently recovered.

There are now 5,652 active cases throughout the province. The most Ontario has ever had was on April 25, when there were 5,675 infected patients province-wide during the peak of its first wave.

Of those currently infected patients, 2,325 are in Toronto, 970 in Ottawa and 877 in Peel Region and 540 in York.

Across Ontario, there are 225 people in hospital, the most since June 29. That includes 47 in intensive care and 29 who require a ventilator.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Quebec sees another 1,000-plus increase, 146 more cases in schools” data-reactid=”56″>Quebec sees another 1,000-plus increase, 146 more cases in schools

Quebec health officials announced 1,102 new cases of COVID-19 on Friday.

It’s now the seventh time in the past eight days that it has eclipsed 1,000-daily cases, a mark no other province has ever hit. Before the recent stretch, Quebec had not reported a 1,000-case increase since May 2. 

Of the latest cases, 345 were identified in the nation’s epicentre of Montreal, 182 in Montérégie, 144 in Quebec City, 87 in Laval, 74 in Mauricie-et-Centre-du-Québec, 67 in Chaudière-Appalaches, 54 in Laurentides, 38 in Estrie, 35 in Lanaudière and 31 in Outaouais.

In the latest 24-hour stretch, four more Quebecers have died. Eighteen other fatalities from previous dates were also added to its death toll, while one was recently removed following an investigation into the cause of death. It leaves the death toll at 5,936. 

In addition, 1,001 more people have recently recovered from the virus. Throughout the province, there are now 8,572 currently infected patients, which includes 433 in hospital (up by eight since Thursday) and 67 in intensive care (down by one).

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In K-12 schools around the province,&nbsp;146 new cases of COVID-19&nbsp;were identified in the latest 24-hour reporting period, with 127 among students and 19 among staff. In that same stretch, 26 more schools reported their first case of COVID-19, while the province removed 41 class bubbles that they previously reported had shut down.” data-reactid=”66″>In K-12 schools around the province, 146 new cases of COVID-19 were identified in the latest 24-hour reporting period, with 127 among students and 19 among staff. In that same stretch, 26 more schools reported their first case of COVID-19, while the province removed 41 class bubbles that they previously reported had shut down.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Since schools opened, there have been 3,335 cases among students and staff. That includes 116 who recovered in the latest 24-hour stretch, leaving 1,799 currently infected patients in the system. So far,&nbsp;1,009 schools have had a case of COVID-19, with 781 of them having an active case at the moment. In total, 975 class bubbles have been shut down and asked to learn remotely.” data-reactid=”67″>Since schools opened, there have been 3,335 cases among students and staff. That includes 116 who recovered in the latest 24-hour stretch, leaving 1,799 currently infected patients in the system. So far, 1,009 schools have had a case of COVID-19, with 781 of them having an active case at the moment. In total, 975 class bubbles have been shut down and asked to learn remotely.

Quebec’s testing numbers are reflective of its output from two days prior. Most recently, it completed 29,729 tests for COVID-19, as it continues to push its capacity.

First school case identified in New Brunswick

Classes are cancelled at Sugarloaf High School in Campbellton after the principal confirmed there was a positive case of COVID-19. (Credit: Serge Bouchard/Radio Canada)
Classes are cancelled at Sugarloaf High School in Campbellton after the principal confirmed there was a positive case of COVID-19. (Credit: Serge Bouchard/Radio Canada)

Health officials in New Brunswick have announced that there’s been a confirmed case at Sugarloaf High School in Campbellton.

It’s the first school case that has been reported in the province since K-12 learning institutions opened for the fall semester.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The school has since temporarily closed, while students will learn remotely on Oct. 13 and Oct. 14. It will give teachers time to prepare for the transition to full-time online learning for the high school students who live in Quebec, after the province announced the suspension of non-essential travel between the two provinces on Thursday.” data-reactid=”83″>The school has since temporarily closed, while students will learn remotely on Oct. 13 and Oct. 14. It will give teachers time to prepare for the transition to full-time online learning for the high school students who live in Quebec, after the province announced the suspension of non-essential travel between the two provinces on Thursday.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The closure of the school has provided time for cleaning and contact tracing, according to Sugarloaf&nbsp;Senior High School principal Michael O'Toole, who announced the case on Thursday to parents and guardians on the school’s&nbsp;Facebook page.” data-reactid=”84″>The closure of the school has provided time for cleaning and contact tracing, according to Sugarloaf Senior High School principal Michael O’Toole, who announced the case on Thursday to parents and guardians on the school’s Facebook page.

“We understand you may feel anxious over the coming days,” said O’Toole. “Public Health officials will contact you if your child has been in close contact with the confirmed case and will tell you if your child needs to self-isolate.”

Those who haven’t been contacted will be able to continue to attend school when it reopens.

Along with the news about the school-related case, New Brunswick officials announced 13 new patients on Friday. Twelve of them are in the Campbellton zone — which previously just had one case of COVID-19 — while one more patient has been identified in Moncton.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The cases range in age from 20-79 years old. One of the 13 cases is travel-related, as investigations into the other patients continue.” data-reactid=”88″>The cases range in age from 20-79 years old. One of the 13 cases is travel-related, as investigations into the other patients continue.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Upon the news, officials have decided to transition the Moncton and Campbellton regions to the “orange” level. It’s the second highest level as part of its COVID-19 recovery plan, which imposes further restrictions due to the heightened risk of COVID-19 in the community.&nbsp;” data-reactid=”89″>Upon the news, officials have decided to transition the Moncton and Campbellton regions to the “orange” level. It’s the second highest level as part of its COVID-19 recovery plan, which imposes further restrictions due to the heightened risk of COVID-19 in the community. 

No link has been found between the outbreaks in Moncton and Campbellton upon an initial investigation.

Throughout New Brunswick, there are now 37 active cases of COVID-19 — the most since April 12. Twenty-one of those currently infected patients are in the Moncton region, 13 are in the Campbellton region, two in the Saint John region and one in the Fredericton region.

A rise in cases became a concern for New Brunswick after at least 19 cases were linked to an outbreak at Manoir Notre-Dame special care home in Moncton. That includes 17 cases that were announced on Wednesday, while there are now 150 people that are self-isolating in connection to the outbreak, said the province’s chief medical officer of health Dr. Jennifer Russell.

Public health has also identified a potential public exposure to the virus at the McDonald’s Restaurant on Morton Avenue in Moncton. People who visited this location between 8 a.m. and 12 p.m. from Sept. 28 to Oct. 5. should self-monitor for symptoms for 14 days.

Updates from the rest of Canada

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Manitoba health officials announced 84 new cases of COVID-19 on Friday, which marks the second-largest spike it has recorded in a 24-hour stretch. On Aug. 23, the province reported 72 cases, but a day later health officials notified the public that the increase should have been 96 cases.” data-reactid=”99″>Manitoba health officials announced 84 new cases of COVID-19 on Friday, which marks the second-largest spike it has recorded in a 24-hour stretch. On Aug. 23, the province reported 72 cases, but a day later health officials notified the public that the increase should have been 96 cases.

Of the most recent 84 patients, 64 were identified in Manitoba, 12 in Interlake-Eastern, seven in Southern health and one in Prairie Mountain. Three more people have died in the province. The latest victims involve a female in her 80s and a female in her 70s, both from Winnipeg and linked to the outbreak at Parkview Place, and a female in her 80s from Winnipeg linked to Heritage Lodge.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Manitoba officials also notified the public about possible exposures at two schools, one in Winnipeg and the other in Kleefeld. In the latest 24-hour stretch, 11 more people have recovered. However, the province’s active case count went up to 933. It’s now the 12th time in the past 14 days that it has hit a new record high for currently infected Manitobans.” data-reactid=”101″>Manitoba officials also notified the public about possible exposures at two schools, one in Winnipeg and the other in Kleefeld. In the latest 24-hour stretch, 11 more people have recovered. However, the province’s active case count went up to 933. It’s now the 12th time in the past 14 days that it has hit a new record high for currently infected Manitobans.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Two new cases were identified in Newfoundland and Labrador, which increases its active case count to six. One of the recent cases is a female in her 40s in the Western Health region. She is a close contact of a previously identified patient. The other case is a man in his 40s in the Eastern Health region. Officials are “asking people who travelled on Air Canada Flight 690 from Toronto to St. John’s on Wednesday, October 7, 2020, to call 811 to arrange for COVID-19 testing.”” data-reactid=”102″>Two new cases were identified in Newfoundland and Labrador, which increases its active case count to six. One of the recent cases is a female in her 40s in the Western Health region. She is a close contact of a previously identified patient. The other case is a man in his 40s in the Eastern Health region. Officials are “asking people who travelled on Air Canada Flight 690 from Toronto to St. John’s on Wednesday, October 7, 2020, to call 811 to arrange for COVID-19 testing.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In Alberta, 277 new cases of COVID-19 were identified by health officials. A woman in her 80s, linked to the outbreak at Shepherd’s Care Millwoods Long Term Care Centre in Edmonton, has passed away. However, the province has removed two fatalities from its death toll. In the latest 24-hour stretch, 150 patients have recovered, which leaves 2,225 active cases in the province. The Edmonton zone is home to 1,329 of those currently infected individuals, while the Calgary zone is home to 628. Around schools in the province, there are 76 that have had outbreaks declared, meaning there have been at least two cases among students and staff within a 14-day stretch.” data-reactid=”103″>In Alberta, 277 new cases of COVID-19 were identified by health officials. A woman in her 80s, linked to the outbreak at Shepherd’s Care Millwoods Long Term Care Centre in Edmonton, has passed away. However, the province has removed two fatalities from its death toll. In the latest 24-hour stretch, 150 patients have recovered, which leaves 2,225 active cases in the province. The Edmonton zone is home to 1,329 of those currently infected individuals, while the Calgary zone is home to 628. Around schools in the province, there are 76 that have had outbreaks declared, meaning there have been at least two cases among students and staff within a 14-day stretch.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="British Columbia health officials have identified 119 new patients, which includes four epi-linked cases. No one has died in the province’s latest 24-hour stretch, while 104 have recovered. There are now 1,406 active cases province-wide, with 3,180 people in self-isolation since they were in contact with a previously identified patient. There has been one new health-care facility outbreak at the Good Samaritan Delta View Care Centre.” data-reactid=”104″>British Columbia health officials have identified 119 new patients, which includes four epi-linked cases. No one has died in the province’s latest 24-hour stretch, while 104 have recovered. There are now 1,406 active cases province-wide, with 3,180 people in self-isolation since they were in contact with a previously identified patient. There has been one new health-care facility outbreak at the Good Samaritan Delta View Care Centre.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Saskatchewan health officials have identified 22 new cases of COVID-19, throughout the Saskatoon (five), Northern Central (four), Central East (four), Central West (three), Regina (two), South Central (two) and Far North East (two) zones. Twenty-six more people have recovered in that same stretch, which leaves 139 active cases in the province. Eight of those currently infected individuals are in hospital. The Central East zone has the most active cases with 42, as it continues to deal with outbreaks in Yorkton.” data-reactid=”105″>Saskatchewan health officials have identified 22 new cases of COVID-19, throughout the Saskatoon (five), Northern Central (four), Central East (four), Central West (three), Regina (two), South Central (two) and Far North East (two) zones. Twenty-six more people have recovered in that same stretch, which leaves 139 active cases in the province. Eight of those currently infected individuals are in hospital. The Central East zone has the most active cases with 42, as it continues to deal with outbreaks in Yorkton.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Nova Scotia reported no new patients on Friday, as its active case count remains at three. As of Prince Edward Island’s latest update on Oct. 6, there are three currently infected patients in its jurisdiction.” data-reactid=”106″>Nova Scotia reported no new patients on Friday, as its active case count remains at three. As of Prince Edward Island’s latest update on Oct. 6, there are three currently infected patients in its jurisdiction.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For a timeline of all cases before today, please visit this page.” data-reactid=”107″>For a timeline of all cases before today, please visit this page.

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Economy grows more than expected, keeping the Bank of Canada 'on its toes' – Financial Post

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January GDP strongest monthly growth in a year

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The Canadian economy surprised to the upside in January, posting its strongest monthly growth in a year, which could keep the Bank of Canada “on its toes,” say economists.

Real gross domestic product (GDP), which measures the value of goods and services produced during a specific time frame, edged up by 0.6 per cent in January, according to Statistics Canada, beating analysts’ expectations of 0.4 per cent. The agency also expects a 0.4 per cent rise in GDP during February.

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“To put that two-month flurry of growth into perspective, the combined one per cent gain is as much as the economy grew in the entire 12 months of 2023,” Bank of Montreal chief economist Douglas Porter said in a note. “After a prolonged lull through much of last year … the economy looks to have caught some strong tailwinds early this year.”

GDP
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The rise in GDP was due to broad-based growth in 18 of the 20 sectors measured by Statistics Canada.

The public sector, which includes education, health care and social assistance and public administration, increased 1.9 per cent in January, following two consecutive monthly declines. Education, which grew by six per cent, was the largest contributor to the country’s growth as activity rebounded from strikes by public sector workers in Quebec late last year.

Manufacturing fully recouped December’s decline in growth with a 0.9 per cent rise in January. A sudden drop in temperature in mid-January in parts of Canada contributed to increased activity in the utilities sector, which rose by 3.2 per cent, its highest growth rate since January 2022.

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The real estate and rental sector grew for a third consecutive month — by 0.4 per cent — on higher resale activity. The Greater Toronto Area, Hamilton-Burlington and most markets in Ontario’s Greater Golden Horseshoe contributed to the growth.

The information and cultural services sector, which includes the motion picture and sound recording industry, also grew for the third consecutive month, as activity continued to ramp up following the end of a strike by the Screen Actors Guild – American Federation of Television and Radio Artists in November.

These “robust” figures could pose a difficult challenge for the Bank of Canada, Toronto-Dominion Bank economist Marc Ercolao said in a note.

While the central bank has received “solid evidence” in the past two months that inflation is cooperating, “strong GDP data prints” such as today’s will “keep them on their toes,” said Ercolao, who expects the first interest rate cut to take place in July.

On the labour front, Statistics Canada said there were 632,100 job vacancies in January, down 34,800, or 5.2 per cent, from November. Vacancies in the manufacturing sector declined by 10.2 per cent to 37,500, the lowest level since September 2017.

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Monthly payroll increases were recorded in 13 of 20 sectors, led by retail trade, manufacturing and finance. But these gains were offset by a 0.3 per cent decline in construction.

The number of employees receiving pay and benefits from their employers, as measured by payroll employment, rose for the first time in the retail trade after four consecutive monthly declines.

Despite the strong start to the year, some economists expressed caution, especially regarding February’s GDP estimate.

Claire Fan, an economist at the Royal Bank of Canada, said the “substantially stronger-than-expected” numbers are partially driven by one-off factors such as the ending of the Quebec teachers’ strike, so growth isn’t likely to be sustained in the coming months.

“We’ve learned to take the advance estimates (February) with a grain of salt as they have been highly revision prone,” she said, while retaining RBC’s assessment of a weak economic backdrop.

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  1. Bank of Canada senior deputy governor Carolyn Rogers said on Tuesday it is time to “break the emergency glass” regarding the structural decline in Canadian productivity.

    How to fix Canada’s poor productivity performance

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    Bank of Canada says nation faces a productivity ’emergency’

BMO’s Porter said Canada experienced something similar last year when GDP stalled after a strong start to the year.

“There could be a serious issue with seasonality here, especially in light of much milder winters recently,” he said.

Despite the increase in GDP, most economists have stuck to their previous predictions that June will be when the Bank of Canada issues its initial interest rate cut.

• Email: nkarim@postmedia.com

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Former crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

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Bankman-Fried, 32, sentenced for fraud on customers of the FTX cryptocurrency exchange he founded.

Former crypto tycoon Sam Bankman-Fried has been sentenced to 25 years in United States federal prison for stealing $8bn from customers of the now-bankrupt FTX cryptocurrency exchange he founded.

US District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing on Thursday after rejecting Bankman-Fried’s claim that FTX customers did not actually lose money and accusing him of lying during his trial testimony.

A jury found Bankman-Fried, 32, guilty on November 2 on seven fraud and conspiracy counts stemming from FTX’s 2022 collapse in what prosecutors have called one of the biggest financial frauds in US history.

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“He knew it was wrong,” Kaplan said of Bankman-Fried before handing down the sentence. “He knew it was criminal. He regrets that he made a very bad bet about the likelihood of getting caught. But he is not going to admit a thing, as is his right.”

Bankman-Fried stood with his hands clasped before him as Kaplan read the sentence.

Kaplan said the sentence reflected “that there is a risk that this man will be in position to do something very bad in the future. And it’s not a trivial risk at all.”

Prior to sentencing, Bankman-Fried stood and apologised. “A lot of people feel really let down. And they were very let down. And I’m sorry about that. I’m sorry about what happened at every stage,” he said.

“My useful life is probably over. It’s been over for a while now, from before my arrest.”

Sam Bankman Fried
Sam Bankman-Fried, centre left, is escorted out of Magistrate Court following a hearing in Nassau, Bahamas, Dec. 19, 2022 [File: Rebecca Blackwell/AP Photo]

Al Jazeera’s Kristen Saloomey, reporting from New York, said that Bankman-Fried could have received up to 110 years behind bars for his crimes and that the 25-year sentence was less than the 40-50 years that prosecutors were seeking.

“Given the scale of this crime, one of the largest frauds in history, the judge took a very strong stance but also showed some flexibility… perhaps based on the arguments made by Bankman-Fried’s lawyers and his family that he had always intended to do good”, she said.

Bankman-Fried had billed himself as a proponent of effective altruism – finding the best way to help other people, in particular by donating all or part of one’s wealth to charity rather than, say, volunteering at a soup kitchen.

When the cryptocurrency world lurched into crisis in the spring of 2022, he bought shares in the troubled platform BlockFi and another troubled company, Voyager.

However, prosecutors have said the responsible image he cultivated concealed his years-long embezzlement of customer funds.

“The defendant victimised tens of thousands of people and companies, across several continents, over a period of multiple years. He stole money from customers who entrusted it to him” prosecutors said in a court filing.

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Gas prices in the Thompson Okanagan jumped by 7 cents a litre, days before the next carbon tax increase – Vernon News – Castanet.net

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Some area gas stations are not waiting until April 1 to crank up the price of gas.

On April Fools Day, the federal Liberals will be increasing the controversial carbon tax, which will directly impact the price at the pump.

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However, overnight, several Thompson Okanagan gas stations have already increased the price, selling the liquid gold for 174.9.

In January, gas was selling for a ‘mere’ 143.9 cents a litre. The latest hike is a whopping 31-cent-a-litre increase in just three months.

And the price of petrol is guaranteed to go up again when the carbon tax increase is implemented on Monday.

Kelowna drivers are also paying more at the pump today, with the majority of stations raising the price to 174.9.

As of 9:30 Thursday morning, the Co-op stations on Rutland and Sexsmith roads were at 168.9 as was the Costco gas station.

Several Vernon stations are holding at 167.9.

In Penticton, motorists are also paying more, with the price at the majority of stations hitting the 174.9 mark.

Kamloops drivers are also taking a hit to the wallet with gas in the Thompson community also selling for 174.9.

The Kamloops Costco was the cheapest in the city at 161.9 cents a litre.

Enderby continues to have some of the cheapest gas in the region at 165.9, however the Esso in Tappen has them all beat at 157.9.

Gas in Vancouver has crested the $2 a litre mark, sitting at 202.9 cents a litre.

And as usual, Calgary motorists are paying significantly less than their BC counterparts, filling up for 154.9 cents a litre.

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