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‘Death is so real’: Immigrant group says meat workers afraid after COVID-19 plant closure – Global News

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An organization that works with immigrants says the temporary closure of a large slaughterhouse in southern Alberta has left many among its largely Filipino workforce fearful for the future.

Cargill shut down its plant just north of High River, Alta., earlier this week after an outbreak of COVID-19 and the death of one employee. The decision put 2,000 employees out of work.

Marichu Antonio from Action Dignity said 70 per cent of the workers at Cargill are Filipino. There are also Mexicans, Chinese and Vietnamese working at the plant.


READ MORE:
Southern Alberta Filipino community ‘worried for our lives’ as members test positive for COVID-19

Her organization, previously known as the Ethno-Cultural Council of Calgary, assists new Canadians obtain services. She said it has received hundreds of calls from Cargill workers.

Antonio, who is originally from the Philippines, said people are worried about what happens after the plant reopens.

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“The possibility of death is so real right now. They know the long-term implications to their families if something happens to them as the main breadwinners, so they’re very worried. They’re afraid,” she said.

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“They don’t know what their future is and they don’t know what is best for them.”

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Antonio said the death of the Cargill worker in her 60s has hit many people hard.

“The woman who passed away was of Vietnamese descent. She took her sick day that Friday and then she was hospitalized Saturday and passed away Sunday.”


READ MORE:
Alberta Labour offers details on probe looking into COVID-19 death linked to Cargill meat plant

Antonio’s organization helped the woman’s husband arrange a funeral.

Cesar Cala, a co-convener of the Filipino Emergency Response Task Force, said a significant number of plant employees are temporary foreign workers here in Canada alone. There are also many with permanent resident status who have their families with them.

He said those who are sending money home often look to save expenses by moving in with other workers.

“Either they rent places or they make living arrangements with other workers from other businesses. It’s a good way to save money.”

The cost savings go beyond living together.

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“They car-pool. Most of them live in Calgary, so it saves a lot of money for them to go in a car-pool … five of them going there together and coming back.”






2:03
Coronavirus: What closures and restrictions on Canada’s 2 largest meat packing plants means for the cattle industry


Coronavirus: What closures and restrictions on Canada’s 2 largest meat packing plants means for the cattle industry


READ MORE:
Cargill plant shutdown does not mean COVID-19 risk is contained: High River mayor

Cala said workers are worried about their health and feeling pressure to head back to work, even if they are still showing symptoms. He said having a steady income is a priority for them.

“For a lot of the (temporary foreign workers), their employment and their status to stay in Canada is tied up to their employment. It’s not just losing their jobs,” he said.

“It might be about losing their status as well. They’ve incurred so much cost coming to Canada and they’re also quite anxious, because there’s no clarity on what’s going to happen and what’s in store.”

Antonio said her group has been urging workers to tell their stories publicly.

“We’ve been asking them … to share their stories and their reality, but they’re afraid that they may not be rehired. There are many stories that they can tell.”

© 2020 The Canadian Press

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Scotiabank's loan-loss provisions double on coronavirus risks – The Globe and Mail

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A Bank of Nova Scotia building stands in Toronto on Aug. 22, 2017.

Nathan Denette/The Canadian Press

Bank of Nova Scotia on Tuesday reported quarterly profit that beat analysts’ estimates due to a strong performance in the capital markets business, but the bank’s loan loss provisions jumped two-fold.

Provisions for loan losses at Scotia more than doubled to $1.85 billion from a year earlier as it set aside more money to meet future losses.

Canadian banks are expected to face loan defaults as the coronavirus pandemic drives the world into a recession, leaving small and medium-sized businesses scrambling to meet their debt payments.

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The bank said commercial and corporate performing loan provisions increased by $275 million, hurt by the poor macroeconomic outlook and a plunge in oil prices that impacted the energy sector globally.

Adjusted net income at its global wealth management segment rose 3 per cent to $314 million, while profit at the global banking and markets business jumped 25 per cent to $523 million.

Canada’s third-biggest lender said net income fell to $1.24 billion, or $1 per share, in the quarter ended April 30, from $2.13 billion, or $1.73 per share, a year earlier.

On an adjusted basis, the lender earned $1.04 per share, compared with analysts’ estimate for profit of $0.98 per share, according to IBES data from Refinitiv.

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Asian stocks rise, boosted by 're-opening optimism' – CNN

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Japan’s Nikkei 225 (N225) was among the biggest winners in Asia, climbing 2.6% after Prime Minister Shinzo Abe on Monday lifted the state of emergency for the entire nation and gave his support for a huge new stimulus package. Benchmark indexes in Shanghai (SHCOMP) and Taipei added 1%, while Australia’s ASX All Ordinaries added 2.8%
In Europe, Germany’s DAX (DAX) increased by 0.8% in early trading and France’s CAC 40 (CAC40) added 1.3%. The FTSE 100 (UKX) gained more than 2% in London. UK Prime Minister Boris Johnson on Monday announced plans to reopen all shops by the middle of June.
US stock futures also rose after Americans crowded onto packed beaches in Florida, Maryland, Georgia, Virginia and Indiana for the Memorial Day weekend. Many states have begun lifting restrictions on businesses and public spaces.
Dow futures were up 490 points, or around 2%. Futures for the S&P and Nasdaq added 1.9%.
There is a sense of “re-opening optimism” among investors, Stephen Innes, global market strategist at AxiCorp, wrote in a research note.
Oil prices, which have been slammed by the sharp drop in demand caused by the pandemic, jumped during Asian trading hours Tuesday. US crude futures were up 3.7% to trade at $34.46 per barrel. Brent crude, the international oil benchmark, rose 2.3% to $36.36 per barrel.

Hong Kong stocks

Hong Kong’s Hang Seng Index (HSI) advanced more than 2%, recovering some ground after investors were stunned by news last week that Beijing plans to implement a controversial national security law in the financial hub.
The Hang Seng had its worst day in nearly five years on Friday after Beijing said that it would effectively bypass Hong Kong’s legislature to enact the law.
China’s foreign ministry commissioner in Hong Kong, Xie Fang, moved to reassure rattled investors on Monday evening.
The legislation won’t affect freedoms of speech, press, publication and assembly, Xie said, according to state-run news agency Xinhua. Xie added that the controversial legislation will protect the operations of international businesses in Hong Kong.
The “clouds of dust in Hong Kong have settled quicker than anyone had expected. Local risk sentiment isn’t nearly as gnarly as everyone had feared,” said Innes.
Still, the move by Beijing is expected to fuel another round of clashes between pro-democracy protesters in Hong Kong and the city’s police force.
— CNN’s Laura He and Kaori Enjoji contributed to this report.

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Stock market news live updates: Stock futures open higher, Dow futures gain 200+ points – Yahoo Canada Finance

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Stock futures jumped Monday evening, pacing toward advances Tuesday when traders return from the Memorial Day holiday weekend in the U.S. Contracts on each of the S&P 500, Dow and Nasdaq rose more than 1% shortly after futures began trading after 6 p.m. ET.

Overseas, equities in Asia also rose, though market participants continued to eye developments around Hong Kong after China announced a new national security law that would give it more control over Hong Kong, potentially stirring up further volatility in the region and further straining relations with the U.S., with whom Hong Kong holds special trade status.

Developments around the coronavirus outbreak still remained front and center for many market participants, though signs of improving consumer behavior in the U.S. after weeks of social distancing have recently started to take hold.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Transportation Security Administration (TSA) data showed the number of travelers passing through checkpoints north of 250,000 for each of Saturday and Sunday, which, while still well below the more than 2 million during the same days last year, was well above the just 87,534 travelers from mid-April. And data from the hospitality firm STR showed hotel occupancy increased to 32.4% for the most recently reported week ended May 16, up from 21.0% the period ended April 11.” data-reactid=”19″>Transportation Security Administration (TSA) data showed the number of travelers passing through checkpoints north of 250,000 for each of Saturday and Sunday, which, while still well below the more than 2 million during the same days last year, was well above the just 87,534 travelers from mid-April. And data from the hospitality firm STR showed hotel occupancy increased to 32.4% for the most recently reported week ended May 16, up from 21.0% the period ended April 11.

“In the wake of the easing lockdowns, the economy is beginning to pick itself up from the floor, though the monthly indicators will be grim for the next few weeks because of the lags in data collection and publication,” Ian Shepherdson, chief economist for Pantheon Macroeconomics, wrote in a note. And still, many economists are forecasting double-digit percentage declines in second-quarter gross domestic product on an annualized basis, given the economic weakness in April and much of May.

Overall, U.S. Covid-19 cases rose 1.3%, or less than the past week’s average, from Sunday to Monday, according to data from Bloomberg News and Johns Hopkins University. The death toll edged up by less than by less than 1% to just under 98,000.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Individual companies and institutions also announced new developments around potential coronavirus treatments and vaccines over the long weekend. Novavax (NVAX) said Monday it began human testing of its coronavirus vaccine candidate, and expects preliminary results around the trial in July.” data-reactid=”22″>Individual companies and institutions also announced new developments around potential coronavirus treatments and vaccines over the long weekend. Novavax (NVAX) said Monday it began human testing of its coronavirus vaccine candidate, and expects preliminary results around the trial in July.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Separately, the World Health Organization (WHO) decided to temporarily pause its trial testing hydroxycholoroquine as a coronavirus treatment due to safety concerns, WHO Director-General Tedros Adhanom Ghebreyesus said during a news briefing, while noting “other arms of the trial are continuing.” Recently, President Donald Trump has touted the anti-malarial drug, typically used to treat conditions like rheumatoid arthritis and lupus, as a safe and effective treatment for COVID-19, and said in a media interview Sunday he had finished taking a two-week course of hydroxychloroquine.” data-reactid=”23″>Separately, the World Health Organization (WHO) decided to temporarily pause its trial testing hydroxycholoroquine as a coronavirus treatment due to safety concerns, WHO Director-General Tedros Adhanom Ghebreyesus said during a news briefing, while noting “other arms of the trial are continuing.” Recently, President Donald Trump has touted the anti-malarial drug, typically used to treat conditions like rheumatoid arthritis and lupus, as a safe and effective treatment for COVID-19, and said in a media interview Sunday he had finished taking a two-week course of hydroxychloroquine.

6:01 p.m. ET Monday: Stock futures open higher

Here were the main moves at the start of the overnight session for U.S. equity futures, as of 6:01 p.m. ET:

  • S&P 500 futures (ES=F): 2,986.5, up 33.5 points (+1.13%)

  • Dow futures (YM=F): 24,692.00, up 268 points (+1.1%)

  • Nasdaq futures (NQ=F): 9,517.75, up 111.5 points (+1.19%)

A man holds the hands of two young girls wearing masks as they cross the street as residents of New York City adjust to living with the ongoing outbreak of the coronavirus disease (COVID-19) in the Manhattan borough of New York U.S., May 20, 2020. REUTERS/Lucas Jackson
A man holds the hands of two young girls wearing masks as they cross the street as residents of New York City adjust to living with the ongoing outbreak of the coronavirus disease (COVID-19) in the Manhattan borough of New York U.S., May 20, 2020. REUTERS/Lucas Jackson

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Follow Yahoo Finance on&nbsp;Twitter,&nbsp;Facebook,&nbsp;Instagram,&nbsp;Flipboard,&nbsp;LinkedIn, and&nbsp;reddit.” data-reactid=”43″>Follow Yahoo Finance on TwitterFacebookInstagramFlipboardLinkedIn, and reddit.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Find live stock market quotes and the latest business and finance news” data-reactid=”44″>Find live stock market quotes and the latest business and finance news

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For tutorials and information on investing and trading stocks, check out Cashay” data-reactid=”45″>For tutorials and information on investing and trading stocks, check out Cashay

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