HALIFAX —
Nova Scotia reported four new cases of COVID-19 on Sunday, bringing the total number of active cases to 88.
All of the new cases are in the Central Zone. Three of the cases are under investigation, one case is school-based, and one case is related to travel outside of Atlantic Canada and is self-isolating.
With lower new cases numbers on Saturday and Sunday – a contrast from the previous weekend – Nova Scotia Premier Stephen McNeil expressed his appreciation.
“I am pleased to see the decline in new cases this weekend. It reflects Nova Scotians’ commitment to following public health measures and doing their part to help slow the spread of COVID-19,” said McNeil in a release issued on Sunday. “I know it is difficult to be away from family and friends, but I want to encourage everyone to remain vigilant and continue our progress in containing the virus.”
Despite the improved case outlook, Nova Scotia’s chief medical officer of health Dr. Robert Strang encouraged continued adherence to precautionary measures and new restrictions.
“It is encouraging to see new case numbers go below the double-digits we have been seeing but it is too soon to relax now,” said Strang in a release issued on Sunday. “We must remain diligent and continue to follow public health orders and advice so we can keep our citizens safe.”
NEW SCHOOL-BASED CASE
On Sunday evening, the province announced a school-based case of COVID-19 had been identified on Sunday.
The case was identified at Ian Forsyth Elementary School in Dartmouth, which is in the Central Zone.
The school will remain closed to students until Thursday; meanwhile, a deep cleaning of the school will take place while students learn at home during the closure. Students and staff will receive an update on Wednesday.
Public health will be in touch with any close contacts of the case and will advise of next steps. Everyone who is a close contact will be notified, tested and asked to self-isolate for 14 days.
Nova Scotia says this case will be reflected in Monday’s new case numbers.
CASE BREAKDOWN
On Saturday, Nova Scotia Health Authority’s labs completed 1,171 Nova Scotia tests.
Since October 1, Nova Scotia completed 75,833 tests. Of those tests, there have been 279 positive COVID-19 cases, of which 191 have recovered; There have been no deaths.
No one is currently in hospital.
Cases range in age from under 10 to over 70.
There are cases confirmed across the province, but most have been identified in the Central Zone, which contains the Halifax Regional Municipality.
The provincial government says cumulative cases by zone may change as data is updated in Panorama, the province’s electronic information system.
COVID ALERT APP
Canada’s COVID-19 Alert app is available in Nova Scotia.
The app, which can be downloaded through the Apple App Store or Google Play, notifies users if they may have been exposed to someone who has tested positive for COVID-19.
LIST OF SYMPTOMS
Anyone who experiences a fever or new or worsening cough, or two or more of the following new or worsening symptoms, is encouraged to take an online test or call 811 to determine if they need to be tested for COVID-19:
Sore throat
Headache
Shortness of breath
Runny nose/nasal congestion
SELF-ISOLATION AND MANDATORY MASKS
Anyone who tests positive for COVID-19 is required to self-isolate at home, away from the public, for 14 days.
Anyone who travels to Nova Scotia from outside the Atlantic region for non-essential reasons is required to self-isolate for 14 days and must fill out a self-declaration form before coming to the province. Travellers must self-isolate alone, away from others. If they cannot self-isolate alone, their entire household must also self-isolate for 14 days.
Residents of New Brunswick, Prince Edward Island and Newfoundland and Labrador are not required to self-isolate when travelling to Nova Scotia, but they must be prepared to provide proof of their place of residency at provincial borders.
Visitors from outside the Atlantic region who have already self-isolated in another Atlantic province for 14 days may travel to Nova Scotia without having to self-isolate again.
It is mandatory to wear a face mask in indoor public spaces in Nova Scotia.
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.
