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COVID-19 antiviral pill on its way across Canada, as some hospitalizations dip – CP24 Toronto's Breaking News

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Alanna Smith, The Canadian Press


Published Wednesday, January 19, 2022 2:47PM EST


Last Updated Wednesday, January 19, 2022 5:07PM EST

Prime Minister Justin Trudeau says the first shipment of an oral COVID-19 pill is making its way across Canada but is no substitute for vaccination against the rapidly spreading virus.

The entire northern Quebec region of Nunavik is on “red alert” with more than half of its 14 Inuit communities struggling with high viral transmission.

Other provinces and territories are bracing for a peak in the pandemic’s fifth wave with hospitalizations beginning to level out.

The antiviral drug Paxlovid is meant to protect against hospitalization and death. Canada has purchased one million courses for delivery this year.

“It’s important to remember that this will be a powerful tool to continue to keep people from people getting extremely sick but it needs to be used right,” Trudeau said Wednesday.

“It’s not a replacement for getting vaccinated, for wearing masks, for staying safe, for keeping your distance.”

The Omicron variant-fuelled fifth wave appears to be peaking in some provinces, while others warn the worst is yet to come.

Quebec reported its lowest daily increase in COVID-19 hospitalizations with a rise of eight, bringing the total to 3,425 people in hospital. It also saw a slight decline in intensive care patients.

In Nunavik, a curfew is in effect and all non-essential public places are closed with private indoor gatherings banned.

Meanwhile, Ontario Health Minister Christine Elliott said there are “glimmers of hope” that COVID-19 cases will peak this month with hospitalization and intensive care admissions to follow.

The province recorded a small dip in the number of people with COVID-19 in hospital to 4,132 patients from 4,183, as intensive care patients rose by eight to 589. Fifty-nine new deaths were also reported.

Many types of Ontario businesses continue to be closed under public health restrictions, but Premier Doug Ford said to expect a “positive” announcement on measures later this week.

In British Columbia, some businesses are eligible for a financial boost from the province as they are forced to stay closed for at least another month to curb COVID-19 spread.

Places such as event venues, bars and nightclubs that don’t serve meals can now apply for grants of up to $20,000. Businesses that have been able to reopen can claim up to half that amount.

Manitoba’s top doctor said Wednesday the Omicron wave could peak soon, as the province logged a slight increase in hospitalizations and intensive care cases.

“Looking at other jurisdictions … it would be reasonable to expect that peak in the near future if we maintain the same trajectory,” said Dr. Brent Roussin, adding “it’s a little early to consider.”

Meanwhile, Saskatchewan is bracing for a tide ofCOVID-19 hospitalizations and absences among workers until mid-February,while more than 1,600 volunteers have answered a call from New Brunswick for pandemic assistance.

A surge of hospitalizations and a shortage of health-care staff led New Brunswick to ask people to help with clinical or non-clinical work, such as vaccine administration.

Almost 350 workers were isolating Wednesday after testing positive for COVID-19. New Brunswick has a record 123 people in hospital with COVID-19.

Prince Edward Island announced new restrictions this week to protect its health system. Nova Scotia, meanwhile, was the only Atlantic province to return to in-person learning at public schools this week.

Alberta is seeing hospitalization rates rising to levels not seen since mid-October. As case rates continue to climb, one of its largest school boards is asking the government to open vaccine clinics in schools.

Edmonton Public Schools said more than 5,000 of its students were absent Tuesday due to COVID-19 – about five per cent of its total student population.

This report by The Canadian Press was first published Jan. 19, 2022.

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TC Energy cuts cost estimate for Southeast Gateway pipeline project in Mexico

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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.

Companies in this story: (TSX:TRP)

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BCE reports Q3 loss on asset impairment charge, cuts revenue guidance

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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.

Companies in this story: (TSX:BCE)

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Canada Goose reports Q2 revenue down from year ago, trims full-year guidance

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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.

Companies in this story: (TSX:GOOS)

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