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Heritage Minister Steven Guilbeault has voiced his support for regulatory changes that would rein in major tech firms, saying he would resist their “bullying attitudes.” In a September interview with the National Post, he warned that Facebook’s “business model is going to face some serious challenges” if the company continues to threaten to pull its services in response to regulatory decrees.
Daniel Bernhard, executive director of Friends of Canadian Broadcasting, a public broadcasting advocacy group, said the report on Thursday points to a growing consensus among Canadian media companies to address the matter.
“Publishers are sounding the alarm about a serious problem,” Bernhard said. “Right now, publishers have a choice between giving their content away to direct competitors for free, or disappear from the internet. That’s basically the choice. And that’s not much of a choice at all.”
Bernhard is optimistic that regulatory changes could begin to challenge the dominance of major tech firms but warns that it will be a long, slow climb to untangle the imbalances in the digital marketplace.
“It’s been built up over 15 years of government neglect.”
Jim Balsillie, the philanthropist and onetime Blackberry co-CEO who founded the Centre for International Governance Innovation (CIGI) and several other organizations, identified two issues that demand Ottawa address the challenges posed by big tech.
“First, the nature of the data-driven economy is such that it structurally breaks markets because it features economies of both scale and scope, information asymmetries; and, network effects which subvert both public good and fair market competition.
Canada doubles Moderna vaccine order, daily COVID-19 cases could top 10,000 by January – Reuters
OTTAWA (Reuters) – Canada has doubled the number of doses of Moderna Inc’s COVID-19 vaccine it has on firm order, Procurement Minister Anita Anand said on Friday, while the country’s top doctor warned that daily new cases could top 10,000 by January.
“Canada is exercising options for an additional 20 million doses of the Moderna vaccine candidate. This will bring Canada’s total allotment of this vaccine to 40 million doses to be delivered in 2021,” Anand said at a health briefing.
A regulatory review of the Moderna vaccine is ongoing. Canadian health authorities are expected to approve Pfizer Inc’s competing vaccine candidate within the next week. The country has signed supply deals with seven manufacturers.
Canada reported 6,495 new cases of COVID-19 on Thursday, as infections surge across the country. Ontario, one of the worst-hit provinces, tightened restrictions in three areas on Friday, but did not expand lockdowns.
“If we stay on the same trajectory, we could reach 10,000 cases daily by January,” Canada’s chief public health officer, Theresa Tam, said, edging back earlier estimates that Canada would hit that landmark by mid-December.
Officials warned that Canadians will need to remain vigilant to slow the spread of the virus, even as vaccines begin to be rolled out. Canada is readying a plan to distribute the first six million doses of the Pfizer and Moderna vaccines in early 2021.
Anand said she is hopeful Canada will start getting vaccine shipments as soon as January and downplayed comments by Alberta Premier Jason Kenney, who earlier this week said his province had been assured shipments would start arriving by Jan. 4.
“We are working with a timeframe … of Q1 2021,” she said. “We are very hopeful it will be within the January timeframe,” she added.
Anand also said FedEx Corp and Innomar Strategies, a Canada-based division of AmerisourceBergen, had been contracted by the federal government to provide logistical support on vaccine delivery.
Reporting by Julie Gordon in Ottawa; Editing by Leslie Adler and Grant McCool
2 TSX Stocks That Can TRIPLE in a Year – The Motley Fool Canada
The S&P/TSX Composite Index rose 39 points on December 3. Canadian stocks have gained considerable momentum in the late fall after stuttering a little to start this season. Moreover, investors have reason to celebrate, as vaccines are coming down the pipe in early 2021. With luck, we will see a return to normalcy. Today, I want to look at two TSX stocks that can still offer explosive growth in the near term. Let’s dive in.
Why I’m still bullish on this TSX stock
Casinos and hotels across North America took a massive hit due to the COVID-19 pandemic. Great Canadian Gaming (TSX:GC) is a Richmond-based company that operates gaming and entertainment facilities across the country. Back in the summer, I’d suggested that investors should be ready to jump on this TSX stock. Its shares have climbed 40% over the past three months as of close on December 3.
The stock surged on news that the private equity firm Apollo Global Management offered $3.3 billion for the casino firm. However, this has received pushback from shareholders.
Great Canadian Gaming released its third-quarter 2020 results on November 10. Predictably, the suspension of operations for most of the third quarter resulted in a major pullback in revenues, profit, and EBITDA. However, the company reiterated that it was moving forward with its GTA capital-development programs.
This TSX stock is still positioned for big things once this subsector gets back into operation. Prime Minister Justin Trudeau has said that most Canadians will be vaccinated by September 2021. That is good news for the casino industry, even if it must deal wit headwinds in the next few months.
This technology stock erupted over the past week
Earlier this week, I’d discussed the surge for BlackBerry (TSX:BB)(NYSE:BB). The TSX stock soared on news of a collaboration with Amazon that will forward BlackBerry’s automotive software reach. Its shares have climbed 24% week over week as of close on December 3.
Investors can expect to see BlackBerry’s third-quarter fiscal 2021 results on December 17. BlackBerry has been inconsistent for investors looking for an explosive technology stock. However, this collaboration with Amazon has huge potential. The cloud software, called IVY, will allow automakers to read vehicle sensor data and improve systems and performance. BlackBerry’s automotive software QNX is already used in 75 million vehicles around the world.
Its promising footprint in automotive software isn’t the only reason to snag this TSX stock. The company has also made huge strides in cybersecurity. Its $1.4 billion acquisition of Cylance added a dynamic presence to its cyber security stable. The company should continue to boost BlackBerry’s artificial intelligence and IoT capabilities. This is great news for investors.
Shares of BlackBerry last had a solid price-to-book value of 2.1. A better-than-expected Q3 FY2021 could push the TSX stock to have an even more impressive December. I’m targeting BlackBerry in late 2020 and early 2021.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Ambrose O’Callaghan has no position in any of the stocks mentioned. David Gardner owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends BlackBerry and BlackBerry and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon.
'A grim milestone': Alta. positivity rate climbs to 10.5 per cent as Hinshaw reports 1828 cases – CTV Edmonton
After setting new records for daily and active cases and hospitalizations multiple times this week, Alberta broke yet another COVID-19 milestone on Friday.
Dr. Deena Hinshaw reported 1,828 cases of the disease from more than 17,200, equalling Alberta’s highest positivity rate of the pandemic so far: 10.5 per cent.
“This positivity rate is a grim milestone and one that should concern us all,” the chief medical officer said.
“I want to stress the seriousness of the rise in cases numbers we are seeing, and how crucial it is that we reduce the spread and bend the curve back down.”
There are now 18,243 coronavirus cases in Alberta, with 99 of 533 hospital patients in ICU.
The province also reported 15 more COVID-19 deaths, raising the fatal count to 590.
Hinshaw encouraged Albertans to behave this weekend, avoid crowds and opt for curbside pickup, if possible.
“By resisting the urge to socialize this weekend and limiting your close contact with others, you are not only protecting yourself and those closest to you from the virus, but you are playing a critical role in helping to break chains of transmission, which can save lives.”
FIELD HOSPITALS AND CONTACT TRACERS
Alberta Health Services is hiring more contact tracers and planning for the scenario of having to open field hospitals in Edmonton and Calgary in case they need more bed space as cases and hospitalizations see a sharp rise.
AHS president and CEO Dr. Verna Yiu, who joined Dr. Hinshaw in Friday’s briefing, said there isn’t a current need for these pop-up hospitals and called it a contingency plan.
“It is clear that Alberta’s healthcare system is under significant stress, given the increasing numbers of COVID-19 cases in the province and AHS must prepare for all scenarios. This plan is part of our ongoing proactive pandemic response planning and is one of several initiatives that will ensure our healthcare system can meet increased demand caused by COVID-19.”
AHS is also still looking to hire more contact tracers to keep up with new cases. It currently employs 900 and wants to double up that number by the end of the year.
When new infections saw a large increase in recent weeks, Hinshaw did away with contact tracers calling every new case and asked them to prioritize vulnerable Albertans.
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Alberta's COVID-19 testing positivity rate hits 'grim milestone' at more than 10 per cent – CBC.ca
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