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New 'One Fare' program begins on Monday in the GTA. Here's what you need to know. – CP24

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A new integrated public transit fare system is launching in the Greater Toronto Area on Monday for riders transferring between GO Transit, the TTC, Brampton Transit, Durham Region Transit, MiWay, and York Region Transit.

A long-time and delayed promise of Ontario Premier Doug Ford, the new “One Fare” initiative aims to provide people with “more transit options and more convenience,” he said at a recent news conference.

It also has the goal of addressing fare duplication on the TTC, which was excluded when the province eliminated double fares on most of Ontario’s transit systems in March 2022.

The One Fare program is expected to save public transit riders on average $1,600 a year in fares, the province said.

HOW DOES IT WORK?

Riders who make a trip on any of these systems (GO Transit, the TTC, Brampton Transit, Durham Region Transit, MiWay, and York Region Transit) must pay the highest single fare associated with their trip, but will be charged a reduced fare when they transfer to another system within a designated two- to three-hour timeframe.

“That means someone living in Barrie, you take a Barrie Transit bus to the GO Station, ride the GO Train to here, Downsview Park Station, and take the subway to the (Toronto Metropolitan University) campus, all with one fare,” the premier said during a Feb. 5 news conference.

TTC

WHAT SHOULD TTC RIDERS EXPECT

When a riders uses the TTC as part of their trip they will not be charged. The TTC will automatically calculate a 100 per cent discount and apply it to their PRESTO card, credit, or debit card.

It should be noted that customers who pay their TTC fare with a monthly pass will not receive any additional discounts when transferring to GO Transit.

Riders who need to transfer into or out of the TTC system must tap using their original method of payment on a PRESTO reader. Customers will receive a free transfer and won’t be charged another fare as long as they are within two hours of their first tap on the TTC.

This program applies to youths, adults, post-secondary students, seniors, and TTC fair discount pass customers. Children 12 and under always travel for free on the TTC.

Ont. unveils ‘One Fare’ transit plan

WHAT THIS PROGRAM MEANS FOR GO TRANSIT USERS

Those riding GO Transit will be reimbursed for the TTC portion of their fare as long as they are within two-hours of their first tap. Riders should tap off when they get to their destination, unless they have a default trip set.

Much like the TTC, GO Transit riders should tap using their original payment when transferring to other transit vehicles during their trip. GO Transit offers a three-hour transfer window.

A tapped PRESTO card, PRESTO in Google Wallet, debit, or credit card is considered proof-of-payment.

INFO FOR NON-TTC MONTHLY PASS HOLDERS

Customers who have a monthly pass for Brampton Transit, Durham Region Transit, MiWay, or York Region Transit will receive a free transfer when they connect to the TTC.

On return trips starting in Toronto, rider will pay a single-ride TTC fare and receive a free transfer when connecting to the agency where they hold a monthly pass.

ONE FARE EXCLUSIONS

At this time, the UP Express is not included in this program.

The TransHelp program in Peel Region is also excluded from this offering as it does not accept PRESTO.

GO transit announcement

Ontario is contributing $67 million to “kick start” the One Fare program, which supports the 2041 Regional Transportation Plan and is part of more than 100 actions outlined in the Greater Golden Horseshow Transportation Plan.

It is, however, unclear at this point where money will come from in the long-term for One Fare as the province has not specified how many years it would fund it.

With files from CTV News Toronto’s Katherine DeClerq.

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Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

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TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.

The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.

The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.

The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.

Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.

Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.

This report by The Canadian Press was first published Nov. 6, 2024.

Companies in this story: (TSX:CGX)

The Canadian Press. All rights reserved.

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Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

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TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

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Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

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ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

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