Connect with us

Business

Maple Leaf Foods CEO takes aim at U.S. government over plane crash in Iran – CTV News

Published

on


TORONTO —
The CEO of Maple Leaf Foods spoke out Sunday against the U.S. government, days after an Iranian missile accidentally shot down a jetliner, killing all 176 people on board — including the family of a company employee.

Michael McCain said in a series of tweets that the time since Wednesday’s crash has not quelled his anger over what he describes as a “needless, irresponsible series of events in Iran.”

“U.S. government leaders unconstrained by checks/balances, concocted an ill-conceived plan to divert focus from political woes. The world knows Iran is a dangerous state, but the world found a path to contain it; not perfect but by most accounts it was the right direction,” he wrote, saying he feels that “a narcissist in Washington” destabilized the region.

The tweets were sent from the official Maple Leaf Foods account, though McCain characterized them as “personal reflections.”

The plane was mistakenly shot down minutes after taking off from an airport on the outskirts of Tehran, just hours after Iranian missiles targeted bases where Americans were stationed in Iraq.

They were retaliating for the U.S. killing of Iranian Gen. Qassem Soleimani.

Iran has admitted the plane was mistaken for a hostile target amid those soaring tensions with the United States, after first pinning the crash on a mechanical failure.

Prime Minister Justin Trudeau has said Iran must take full responsibility for shooting down the plane, which was carrying 138 passengers bound for Canada, including 57 Canadian citizens. He said that must include a full and credible investigation. But he’s steered clear of pinning the crash on the Americans.

“I think it is too soon to be drawing conclusions or assigning blame or responsibility in whatever proportions,” he told reporters last week.

McCain, meanwhile, said he’s still grappling with the death of his colleague’s wife and 11-year-old son.

“We are mourning and I am livid,” he wrote.

This report by The Canadian Press was first published Jan. 12, 2020.

 

Let’s block ads! (Why?)



Source link

Business

What you need to know about COVID-19 in Alberta on Monday, July 13 – CBC.ca

Published

on


The latest:

What you need to know today in Alberta:

A&W, Tim Hortons and McDonald’s restaurants with drive-thrus are again offering packages of the masks to customers in a bid to limit the spread of COVID-19. About 20 million non-medical, single-use masks will be served up at more than 600 outlets across Alberta, the province said in a statement. 

Masks will also be provided to municipalities without access to the participating restaurants, including First Nations and Métis settlements, places of worship, transit services, shelters and long-term care facilities.

Sylvan Lake was trending on Twitter Sunday afternoon after photos surfaced on social media that appeared to show groups of people closer than the required two-metre separation on a thin stretch of sand fronting the lake. An infectious disease expert at the University of Calgary said the pictures are worrisome as the risk is still “quite high” in such gatherings. He said they indicate “COVID fatigue” — people appearing to lose track of public health guidelines that exist as a condition of the province’s relaunch plan. 

Alberta universities plan to do away with dormitory residences in favour of apartment-style housing during COVID-19 pandemic — and the move comes with a cost increase of $3,000 for students at the University of Calgary. According to the university’s website, meal plans are not included.

Fort McKay First Nation Chief Mel Grandjamb says masks are now mandatory after the community learned of its first case of COVID-19. Trips into and out of the First Nation will be limited to one per day, and travel within the community is strongly discouraged.

Calgary Mayor Naheed Nenshi has mused about the possibility of making masks mandatory in certain situations and says he could bring forward a draft bylaw to council on July 20.

That move would join Calgary with three other major Canadian cities in making masks mandatory. Here are some of the top questions and answers when it comes to how a mandatory mask bylaw might work and whether the science supports it.

Meanwhile, Edmonton has been chosen as a hub city for the NHL’s return, with the league choosing cities that largely have their coronavirus outbreaks under control when compared to United States counterparts.

Calgary’s mayor is musing about the possibility of making masks mandatory in certain situations and says he could bring forward a draft bylaw to council on July 20. (Jeff McIntosh/The Canadian Press)

Alberta Health reported 77 new cases of the illness on Friday, bringing the total number of active cases to 592.

Here’s the current breakdown of active cases across the province:

  • Calgary zone: 228.
  • Edmonton zone: 203.
  • South zone: 96.
  • North zone: 44.
  • Central zone: 13.
  • Unknown: 8.

This map shows the number of tests and total confirmed cases in various regions of Alberta as of Thursday, July 9. (CBC News)

What you need to know today in Canada:

As the volume of travellers entering Canada through the U.S. has increased in recent weeks, public health officials are being placed at land borders to bolster screening for COVID-19.

As of 6:30 a.m. ET on Monday, Canada had 107,590 confirmed and presumptive coronavirus cases. Provinces and territories listed 71,467 of those as recovered or resolved. A CBC News tally of deaths based on provincial reports, regional health information and CBC’s reporting stood at 8,819.

Ontario Premier Doug Ford is expected to announce plans for Stage 3 of the province’s reopening today. According to a document released in late April, Stage 3 includes allowing remaining workplaces to reopen “safely,” further relaxing restrictions on public gatherings and likely reopening outdoor playgrounds. The spread of COVID-19 continues to slow in Ontario, with new daily case numbers having steadily declined over the last five weeks. 

Masks or face coverings will soon be mandatory in all indoor public spaces across Quebec, Radio-Canada has confirmed. Premier François Legault is expected to make the announcement at a news conference at 1 p.m. ET.

Newfoundland and Labrador has reported its first new case of coronavirus in 43 days. The patient is a man in his 50s who had recently returned from the United States, according to the government.

Self-assessment and supports:

Alberta Health Services has an online self-assessment tool that you can use to determine if you have symptoms of COVID-19, but testing is open to anyone, even without symptoms. 

The province says Albertans who have returned to Canada from other countries must self-isolate. Unless your situation is critical and requires a call to 911, Albertans are advised to call Health Link at 811 before visiting a physician, hospital or other health-care facility.

If you have symptoms, even mild, you are to self-isolate for at least 10 days from the onset of symptoms, until the symptoms have disappeared. 

You can find Alberta Health Services’ latest coronavirus updates here.

The province also operates a confidential mental health support line at 1-877-303-2642 and addiction help line at 1-866-332-2322, available from 7 a.m. to 11 p.m., seven days a week. 

Online resources are available for advice on handling stressful situations and ways to talk with children.

There is a 24-hour family violence information line at 310-1818 to get anonymous help in more than 170 languages, and Alberta’s One Line for Sexual Violence is available at 1-866-403-8000, from 9 a.m. to 9 p.m.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Stocks Climb to 5-Week High; Dollar Extends Drop: Markets Wrap – Yahoo Canada Finance

Published

on


Stocks Climb to 5-Week High; Dollar Extends Drop: Markets Wrap

(Bloomberg) — U.S. equities touched a five-week high on expectations earnings will offer an optimistic outlook for the world’s biggest economy amid a raging coronavirus pandemic. Oil erased an earlier loss.

The S&P 500 briefly went back to being even this year, led by the consumer discretionary, health care and materials sectors. The Nasdaq Composite hit another record high. Traders are awaiting reports this week from a slew of companies that have yet to provide concrete guidance on the impact of the virus. Shares of PepsiCo Inc. rose after the snack-maker reported stronger-than-expected second-quarter sales. Tesla Inc. jumped as much as 16%.

“It’s remarkable how optimistic investors seem to be,” said John Carey, portfolio manager at Pioneer Investment Management. “The market has been fairly strong as investors look toward a potential recovery.”

European stocks rose with government bond yields. Oil was little changed ahead of an OPEC+ meeting at which the group may announce plans to start tapering historic production cuts.

With global stocks trading near their highest since February, focus now turns to whether the profit outlook will back up bullishness fueled by central bank and fiscal policy support. Traders have largely shrugged off new coronavirus outbreaks in some parts of the world, with Florida on Sunday posting the biggest one-day rise in cases since the pandemic began in the U.S., reporting 15,300 new infections.

There’s reason for optimism even though earnings are estimated to have contracted by more than 40% in the worst quarter since the financial crisis, as analysts upgrade their forecasts for the rest of the year.

“The backdrop is positive for all sectors of the market,” said Gerry Sparrow, president of Sparrow Capital Management Inc. “The reason for that backdrop is that the recovery has taken hold, so jobs data, consumer credit, home building strength signaled that the economy has shifted in a positive direction.”

Here are some key events coming up:

JPMorgan, Bank of America, Wells Fargo, Goldman Sachs, BNY Mellon and Citigroup start the U.S. earnings season for banks.Wednesday brings the Bank of Japan’s policy decision and a Governor Haruhiko Kuroda briefing.The EIA crude oil inventory report is due Wednesday.China releases second-quarter GDP on Thursday as well as key economic indicators for June.The European Central Bank meets to set monetary policy on Thursday, with President Christine Lagarde holding a virtual press conference afterward.

These are the main moves in markets:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For more articles like this, please visit us at bloomberg.com” data-reactid=”33″>For more articles like this, please visit us at bloomberg.com

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Subscribe now to stay ahead with the most trusted business news source.” data-reactid=”34″>Subscribe now to stay ahead with the most trusted business news source.

©2020 Bloomberg L.P.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Stock market news live updates: Stocks jump after Pfizer, BioNTech fuel Covid-19 vaccine hopes – Yahoo Canada Finance

Published

on


Stocks extended gains Monday morning after two pharmaceutical companies received “fast track” designation for the development of their vaccine candidates against Covid-19, stoking hopes of near-term inoculation amid the pandemic.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Pfizer (PFE) and BioNTech SE (BNTX) announced that two of the companies’ four investigational vaccine candidates received the designation from the US Food and Drug Administration, which is intended to speed up both the development and review of new drugs and vaccines. Shares of both companies rose in pre-market trading.” data-reactid=”17″>Pfizer (PFE) and BioNTech SE (BNTX) announced that two of the companies’ four investigational vaccine candidates received the designation from the US Food and Drug Administration, which is intended to speed up both the development and review of new drugs and vaccines. Shares of both companies rose in pre-market trading.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Over the weekend, some states again reported surging numbers of new coronavirus cases, as parts of the country struggled to keep new infections at bay. Florida reported a record 15,300 new Covid-19 cases as of Sunday, the highest one-day total for any US state so far during the pandemic, while new deaths in Florida fell by more than half versus the prior day to 45.” data-reactid=”18″>Over the weekend, some states again reported surging numbers of new coronavirus cases, as parts of the country struggled to keep new infections at bay. Florida reported a record 15,300 new Covid-19 cases as of Sunday, the highest one-day total for any US state so far during the pandemic, while new deaths in Florida fell by more than half versus the prior day to 45.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Despite the ongoing surge in the state, Disney’s (DIS) Walt Disney World Resort began reopening in Florida on Saturday to join competitors including Comcast’s (CMCSA) Universal Studios and SeaWorld Entertainment in opening their park gates to customers in the state.” data-reactid=”19″>Despite the ongoing surge in the state, Disney’s (DIS) Walt Disney World Resort began reopening in Florida on Saturday to join competitors including Comcast’s (CMCSA) Universal Studios and SeaWorld Entertainment in opening their park gates to customers in the state.

Elsewhere, new deaths in Arizona increased for a third straight day, with 86 reported as of Sunday. The state’s new case count of 2,537 marked a step down from the 3,038 from the day prior. California’s 8,460 new cases were below the state’s average one-day increase over the past seven days.

“The economic implications of the second wave are pretty clear, qualitatively at least. The third quarter recovery will be slower than we previous expected, but we’re hoping that some of the deferred spending will be pushed into the fourth quarter rather than abandoned altogether,” Ian Shepherdson, chief economist for Pantheon Macroeconomics, wrote in a note.

“Markets are caught in the middle. We have argued for months that a full recovery depends on three pillars, namely, sustained progress against the virus, the continuance of super-accommodative Fed policy, and consistent support from fiscal policy,” he added. “Clearly, the first pillar has crumbled, and the third is now in limbo, with the Senate in recess until July 20. The Fed can’t do everything, so we’re not surprised that the S&P 500 has been range-bound since late May.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="As for other potential market catalysts, second-quarter earnings season kicks off this week with a packed docket of big bank earnings, along with other early reporters including Netflix (NFLX), UnitedHealth Group (UNH) and Delta Airlines (DAL). Financials, which have lagged for the year to date, outperformed on Friday heading into earnings season, with the KBW Bank Index (KBW) rising by the most in five weeks at the end of last week.” data-reactid=”25″>As for other potential market catalysts, second-quarter earnings season kicks off this week with a packed docket of big bank earnings, along with other early reporters including Netflix (NFLX), UnitedHealth Group (UNH) and Delta Airlines (DAL). Financials, which have lagged for the year to date, outperformed on Friday heading into earnings season, with the KBW Bank Index (KBW) rising by the most in five weeks at the end of last week.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Market participants have so far set a low bar for second-quarter earnings results across sectors, with the coronavirus pandemic and measures taken to contain it at their most widespread in the April through June period this year. The estimated earnings decline for the S&amp;P 500 is 43.8% for the second quarter,&nbsp;according to data from FactSet as of early July.&nbsp;Such a result would represent the largest year-over-year decline in earnings since the fourth quarter of 2008, and a steep downward revision from the estimate as of March 31, which had been for a decline of 13.6%.” data-reactid=”26″>Market participants have so far set a low bar for second-quarter earnings results across sectors, with the coronavirus pandemic and measures taken to contain it at their most widespread in the April through June period this year. The estimated earnings decline for the S&P 500 is 43.8% for the second quarter, according to data from FactSet as of early July. Such a result would represent the largest year-over-year decline in earnings since the fourth quarter of 2008, and a steep downward revision from the estimate as of March 31, which had been for a decline of 13.6%.

9:31 a.m. ET: Stocks open higher

Here were the main moves in markets, as of 9:31 a.m. ET:

  • S&P 500 (^GSPC): +26.76 points (+0.84%) to 3,211.8

  • Dow (^DJI): +249.99 points (+0.96%) to 26,325.29

  • Nasdaq (^IXIC): +115.28 points (+1.1%) to 10,731.46

  • Crude (CL=F): -$0.32 (-0.79%) to $40.23 a barrel

  • Gold (GC=F): +$15.20 (+0.84%) to $1,817.10 per ounce

  • 10-year Treasury (^TNX): +2.5 bps to yield 0.658%

9:11 a.m. ET: PepsiCo shares rise after consumer pantry loading drives Q2 earnings beat

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Food and beverage giant PepsiCo (PEP) reported fiscal second-quarter results that topped consensus estimates, driven by a jump in sales at the company’s North American food and snacking businesses.” data-reactid=”39″>Food and beverage giant PepsiCo (PEP) reported fiscal second-quarter results that topped consensus estimates, driven by a jump in sales at the company’s North American food and snacking businesses.

Core earnings per share of  $1.32 per share was better than the $1.25 expected, and net revenue of $15.95 billion also topped estimates for $15.39 billion. Organic sales PepsiCo’s Quaker Foods North America unit surged 23% over last year, or more than three times greater than expected, and Frito-Lay North America also outperformed. However, PepsiCo’s North American beverage unit – its largest by sales – saw organic revenue drop 7% during the quarter.

“Our snacks and food business has performed very well, while our beverage business was challenged but continued to improve its competitive positioning,” PepsiCo CEO Ramon Laguarta said in prepared remarks of 2Q results. We expect our snacks and foods businesses to remain resilient, albeit with some moderation in growth, while our beverages business should deliver better performance during the second half of this year.”

7:26 a.m. ET Monday: Futures extend gains after vaccine hopes rise further

Here were the main moves in markets, as of 7:27 a.m. ET:

  • S&P 500 futures (ES=F): 3,201.75, up 23.25 points or 0.73%

  • Dow futures (YM=F): 26,191.00, up 214 points, or 0.82%

  • Nasdaq futures (NQ=F): 10,931.25, up 94 points, or 0.87%

  • Crude (CL=F): -$0.76 (-1.87%) to $39.72 a barrel

  • Gold (GC=F): +$12.90 (+0.72%) to $1,814.80 per ounce

  • 10-year Treasury (^TNX): +1.3 bps to yield 0.646%

6:02 p.m. ET Sunday: Stock futures add to Friday’s gains

Here were the main moves at the start of the overnight session for U.S. equity futures, as of 6:02 p.m. ET:

  • S&P 500 futures (ES=F): 3,189.75, up 11.25 points or 0.35%

  • Dow futures (YM=F): 26,081.00, up 104 points, or 0.4%

  • Nasdaq futures (NQ=F): 10,857.25, up 20 points, or 0.18%

Guests wearing masks walk to the entrance of Walt Disney World's Magic Kingdom in Orlando, Florida, on Saturday, July 11, 2020. The theme park reopened at limited capacity during the Coronavirus pandemic. (Stephen M. Dowell/Orlando Sentinel/Tribune News Service via Getty Images)
Guests wearing masks walk to the entrance of Walt Disney World’s Magic Kingdom in Orlando, Florida, on Saturday, July 11, 2020. The theme park reopened at limited capacity during the Coronavirus pandemic. (Stephen M. Dowell/Orlando Sentinel/Tribune News Service via Getty Images)

<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=”75″>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=”76″>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=”77″>For tutorials and information on investing and trading stocks, check out Cashay

Let’s block ads! (Why?)



Source link

Continue Reading

Trending