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Cargill is shuttering its High River meat-packing plant after it was linked to more than 350 cases of coronavirus – Financial Post

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CALGARY — The Cargill meat-packing plant in southern Alberta announced Monday it is temporarily shutting down as the result of COVID-19.

The High River facility, which employs about 2,000 workers, has been linked to more than 350 cases of the novel coronavirus.

A company spokesman called it a difficult decision as the plant is considered an essential service.

“Considering the community-wide impacts of the virus, we encourage all employees to get tested for the COVID-19 virus as now advised by Alberta Health Services as soon as possible,” Jon Nash said in a statement.

Production is to stop once meat already in the plant is processed to avoid any food waste.

“We will process approximately three million meals currently in our facility as quickly as possible. We greatly appreciate our employees who are working to complete this effort,” Nash said.

It’s not clear how long the plant will be shut down or if workers will be paid while they’re off.

The plant, just north of the town of High River, processes about 4,500 head of cattle a day — more than one-third of Canada’s beef-packing capacity.

Cargill had earlier announced that its second shift of workers was being shut down. It also had said it was bringing in several new safety protocols, including temperature testing, enhanced cleaning and sanitizing, use of face coverings, screens between employee stations and a ban on visitors.

The president of the United Food and Commercial Workers Local 401, which represents the Cargill employees, said the shutdown is better late than never. But the union still has many questions.

“We still have grave concerns about their transparency. What are they saying to their workers? Are the workers going to get paid? What does the future look like?” asked local president Thomas Hesse. “It isn’t just about pausing the plant … creating economic anxiety among these vulnerable workers is another problem.”

The union had been calling on Cargill to shut the plant down for two weeks to allow workers to self-isolate and to give the plant a thorough cleaning.
Hesse said three-quarters of members expressed concern about their safety during a union conference call Sunday.

He said he personally knows that one long-term Cargill employee is “fighting for his life” in hospital. The worker is on a ventilator and in an induced coma, said Hesse.
He wants an independent third party to assess the plant.

An official with the Canadian Union of Public Employees in Alberta said the shutdown is overdue, since cases at Cargill were causing a cross-contamination of another essential service in the town of 12,000 people.

Lou Arab said five employees at Seasons Retirement Communities in High River have tested positive for COVID-19. Three of them are married to meat-packing workers.
“The plant needs to be shut down until they figure out what’s going on and until they know it has been made safe,” Arab said.

“It’s going beyond the plant and it’s going into the community.”

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Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

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TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.

The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.

The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.

The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.

Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.

Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.

This report by The Canadian Press was first published Nov. 6, 2024.

Companies in this story: (TSX:CGX)

The Canadian Press. All rights reserved.

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Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

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TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

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Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

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ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

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