Alberta confirmed 1,155 new cases of COVID-19 in the last 24 hours, provincial officials said Friday.
“Our current situation is grim,” Dr. Deena Hinshaw said. She added this week, Alberta confirmed more new active cases than any other week since the pandemic began.
There are now 10,655 active cases in the province; 4,272 in the Calgary zone and 4,520 in the Edmonton zone.
Alberta’s positivity rate sits at 6.5 per cent. More than 17,000 lab tests were done over the last 24 hours.
There are 310 Albertans in hospital with COVID-19; 58 of whom are in intensive care units.
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1:00 ‘Our current situation is grim’: Alberta record 1,155 COVID-19 cases, 11 deaths on Friday
‘Our current situation is grim’: Alberta record 1,155 COVID-19 cases, 11 deaths on Friday
Hinshaw said that while Alberta Health Services can expand ICU capacity in Edmonton and Calgary, it means those beds aren’t available to patients with other illnesses.
“AHS is working to increase capacity for COVID-19 patients if needed,” she said. “Those expanded capacity beds mean less services for others. We cannot do that.
“It means stopping and delaying other services. That’s the impact we want to avoid.”
Hinshaw stressed everyone must do their part to reduce pressure on all aspects of the health-care system.
“The system is taxed.”
1:46 Hinshaw assures Albertans there are enough ICU beds for COVID-19
Hinshaw assures Albertans there are enough ICU beds for COVID-19
She said contact tracers are working tirelessly and “heroically” but they’re facing “an uphill battle.”
Eleven deaths connected to COVID-19 were reported Friday, bringing Alberta’s pandemic death toll to 462.
“Eleven fellow Albertans are gone and their family and friends are mourning their deaths,” Hinshaw said.
Seven of the deaths were linked to outbreaks: The deaths of a woman in her 90s, a woman in her 80s and a man in his 80s are linked to the Edmonton General Care Centre; the deaths of a woman in her 60s and a man in his 90s are linked to the Grey Nuns Community Hospital; the death of a woman in her 90s in the Edmonton zone is connected to Covenant Care Chateau Vitaline; and the death of a man in his 70s from the North zone is linked to Grande Prairie Care Centre.
A man in his 60s from the Edmonton zone, a man in his 60s from the South zone, a woman in her 70s from the Calgary zone and a man in his 80s from the Central zone also died.
Hinshaw said she continues to be concerned with the tragic outcomes in Alberta. It would be a mistake, she said, for people to think severe outcomes only occur in older people.
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“This week, two individuals in their 30s died of this virus.
“While both had co-morbidities, they were not life-threatening on their own.”
Hinshaw explained many Albertans have chronic conditions, which can include things like high blood pressure or diabetes.
Alberta Health said 32,835 people have recovered from the disease.
1:59 AHS sees several cases where designated family or supports intentionally did not disclose COVID-19 status
AHS sees several cases where designated family or supports intentionally did not disclose COVID-19 status
No new restrictions announced
Neither Premier Jason Kenney nor Health Minister Tyler Shandro joined Friday’s news conference. Hinshaw explained elected officials traditionally participate in COVID-19 updates when there are announcements or changes to be made public.
There were no new restrictions announced by Hinshaw Friday.
She said she and her team continue to discuss possible additional measures to present to decision-makers.
“I cannot speak for the premier… but as a part of the recommendations I’ve made, there’s always been consideration of the impact of COVID-19 and the impacts restrictions have.”
Hinshaw said her job means she’s responsible for the whole health of Albertans.
“It has been challenging to consider what the right balance is and what the right suite of measures would be to bring down COVID-19 rates while maintaining the mental benefits of socialization, of being employed, of being able to have physical activity.”
1:32 ‘This is deadly serious’: Hinshaw asks Albertans to abide by public health rules for COVID-19
She had hoped the recent measures would have somewhat slowed the spread but that hasn’t been the case, Hinshaw said. Therefore, she said her team will need to make recommendations on additional restrictions.
“We cannot let COVID-19 spread unchecked.”
A spokesperson for the premier’s office said: “The government depends on the best scientific advice from its medical experts, including Chief Medical Officer of Health Hinshaw.
“Her team is currently preparing a suite of options,” Christine Myatt said in an email to Global News. “The government will of course clearly communicate any decisions to the public if/when those occur.”
1:16 Hinshaw says finding balance in fighting COVID-19 ‘challenging’ amid calls for more restrictions
Hinshaw says finding balance in fighting COVID-19 ‘challenging’ amid calls for more restrictions
Last Friday, the premier joined Hinshaw for the news conference, announcing new health measures in an attempt to lower COVID-19 rates and hospitalizations. They included a request not to host social gatherings at home and that masks be worn in work places.
On Nov. 12, the province announced indoor group fitness classes and team sports would be prohibited for two weeks from Nov. 13-27 in the Calgary area, Edmonton area, Fort McMurray, Grande Prairie, Lethbridge and Red Deer.
Restaurants and pubs in the above areas, as well as areas on “enhanced status” must stop liquor sales by 10 p.m. and close by 11 p.m. This measure will also be in place from Nov. 13-27.
1:26 COVID-19: Alberta announces 2-week pause on group fitness, group performance classes and indoor team sports
The mayor of Calgary doesn’t think the current restrictions are helping.
“We should have seen numbers go down by now,” Naheed Nenshi said during a 770 CHQR interview on The Morning News With Sue Deyell And Andrew Schultz on Friday.
“Typically we see the numbers respond — if they’re going to respond — within five to 14 days. Fourteen is really the outlier. And the fact that they haven’t responded is actually quite concerning.
“It’s not about panic or fear but it’s about being very clear-headed… about looking at these numbers and where they’re going.”
Nenshi said the most concerning numbers are the rising hospitalizations, ICU admissions and deaths. He said he spoke with Hinshaw and the premier earlier this week and they’re also very, very worried.
“It’s very clear that they’re very concerned by these numbers. The premier continues to be concerned about particularly what will happen to retail businesses as we go into the Christmas season if we have more of a shutdown.
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“But I think it’s pretty clear that more restrictive measures will be coming for the province sooner rather than later,” he said.
“I would not be at all surprised if they went with more restrictions prior to the end of the two-week period that they announced last week, especially with numbers like yesterday’s.”
1:52 New initiative encourages Edmontonians to shop local
New initiative encourages Edmontonians to shop local
Whatever rules are in place, Nenshi is encouraging people to support local business as much as possible but in a safe way: shop online and order from a small local business using its website, delivery or curb-side pickup.
“A lot of businesses have been telling me: ‘Look, if you’re going to do this, please do it now so we have the opportunity to salvage some of the Christmas season… Get this over with. Don’t keep waiting,’” Nenshi said.
“Today, Ontario is going to announce more restrictions, there’s now a mask mandate in every province across the country except Alberta, so I imagine the pressure on the provincial government on this is pretty high.
“Let’s not wait for government to tell us the right thing to do,” he added. “It’s time for people to start restricting our activities now.”
TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.
Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.
Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).
SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.
The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.
WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.
SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.
SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.
SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.
The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.
Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.
“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.
“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”
Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.
On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.
If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.
These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.
If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.
However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.
He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.
“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.
Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.
The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.
Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.
Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.
Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.
Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.
Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”
In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.
“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.
This report by The Canadian Press was first published Nov. 12, 2024.
TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.
The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.
The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.
RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.
The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.
RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.
This report by The Canadian Press was first published Nov. 12, 2024.
