All GO and UP trains are currently impacted by a CN rail outage, the transit agency says. (Tara Walton/The Canadian Press)
GO Transit train service has begun to resume after being halted Tuesday due to a network-wide system failure, but riders should continue to expect delays, Metrolinx says.
The provincial transit agency says the problem was tied to a network-wide Canadian National Railway (CN) system failure affecting all rail corridors.
“As we work with our rail partner to resume regular rail service tonight, we have modified the schedule and are running trains approximately every half hour. Further delays and modifications are expected,” GO Transit said in a post on X, formerly Twitter.
For outbound trains from Union Station on Tuesday night, Metrolinx pointed people to GO Transit’s website. For customers travelling into Union Station, service will be less frequent but should be between 30 to 60 minutes.
Earlier, Metrolinx said: “Trains are very busy, so please consider travel alternatives or travelling later this evening if possible.”
Metrolinx agents field questions from people at Union Station Tuesday after a CN network outage left GO Trains unable to operate. (Patrick Morrell/CBC)
UP Express also said its train service has been “modified” because of the CN system failure. It said it would provide updates once it returns to regular service.
“UP Express trains are running every 30 minutes. We thank you for your patience,” the service said on X.
CN apologizes, will review incident
CN’s website also appeared to be offline for a period Tuesday afternoon, but was running again by 4 p.m. In a statement late Tuesday, CN said its internet connectivity has been restored.
“CN would like to apologize for the impact caused by this outage. While there continues to be no indication of a cyber security issue, the cause of the outage remains under investigation,” the company said.
“During the outage, CN worked with GO to temporarily take over their train dispatching responsibilities,” the company said in the statement.
“This allowed for the partial resumption of GO and VIA services. GO Transit has now resumed dispatching their lines and they are working to resume their normal movements. CN will be working with GO to review the incident and put in place processes to avoid further disruptions.”
CN said its customer service portal is working and its own trains did not experience any delays. No data was affected, it said.
Earlier, CN said GO trains, Via trains in and out of Union station, both of which require an internet connection to CN’s services, were affected. EXO trains out of Montreal and Amtrak Trains were not affected.
Via Rail said in its own post on X that trains entering or leaving Union Station will experience delays, and asked passengers to visit its website for updates on their trips.
Passenger’s trip took 3 hours longer than expected
Aarij Anwer, a Muslim chaplain at Western University, said he and a friend got stuck twice while taking a Via train from London to Toronto on Tuesday — once in Oakville and then again in the Humber Bay Park East area in Toronto’s west end.
The train left London at about 10:50 a.m. and was meant to arrive at Union station at 1:10 p.m. By the time it arrived, it was 4:20 p.m. — taking more than three hours longer than scheduled, he said.
As a result of the delays, the two missed meetings with Ontario MPPs and Premier Doug Ford.
“There are worse places to be stuck five hours. But we’d also rather get to our destination and go about our day,” Anwer said in an interview on the train.
Aarij Anwer, a Muslim chaplain at Western University, says his Via Rail trip from London to Toronto took much longer than expected on Tuesday. (CBC)
Via Rail provided customers with water and snacks and issued generic announcements about the delays, he said. The train was also not at capacity, which meant it was comfortable but still frustrating, he added.
“I guess it could have been worse but also not what we expected,” he said.
Anwer said he hoped he and his friend could still make an evening dinner and mixer in Toronto.
Shutdown led to surge pricing on ride-hailing apps
The railway shutdown also appeared to lead to surge pricing on ride-hailing apps like Uber Tuesday afternoon, as demand for alternate routes grew.
The TTC said it was working to add extra subway service on Lines 1 and 2 to help with the afternoon rush.
“We expect heavier-than-normal passenger loads and would advise customers to plan ahead in the event this issue persists,” it said in a statement.
Pearson airport issued a statement Tuesday afternoon, saying it is “closely monitoring” the situation.
“There is currently no impact to our operations, but passengers may need to find an alternative way to get to the airport,” the statement reads.
Yogesh Dahiya, a student, said the shutdown disrupted his schedule. Speaking to CBC News Tuesday afternoon, he said he had been waiting for an hour and half for a train at Bloor GO station and planned to wait another 15 minutes before taking an alternate route on the TTC.
“Being a student, I have to do a lot of work at home,” he said. “It’s all about time.”
Dahiya said he works a part-time job and that managing his time between school, work and home is essential.
Transportation systems should be well prepared for delays and ensure customers have the information they need to plan different ways home.
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.
