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One new case of COVID-19 in Ottawa

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OTTAWA —
There is one new case of COVID-19 in Ottawa, while zero new deaths have been reported for a fifth straight day.

Ottawa Public Health provided an update on the COVID-19 situation in Ottawa on Sunday afternoon.

Since the first case of COVID-19 announced in Ottawa on March 11, there have been 2,055 laboratory confirmed cases of COVID-19, and 260 deaths linked to the virus.

Hospitalizations continue to decline

There are currently two people in hospital with COVID-19 related illnesses, including one in the Intensive Care Unit.

On June 1, Ottawa Public Health reported 38 people hospitalized with COVID-19.

Recovering from COVID-19

Ottawa Public Health says approximately 85 per cent of all COVID-19 cases in Ottawa are resolved.

A total of 1,742 people have recovered after testing positive for COVID-19.

There are currently 53 active cases of COVID-19 in Ottawa.

COVID-19 Outbreaks

There are currently seven COVID-19 outbreaks in Ottawa. Six at long-term care homes and one at Welcome House.

The COVID-19 outbreak at Carlingview Manor was declared over on June 18.

Source:- CTV News Ottawa

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Monteregie virus infections top 60; hundreds of people overwhelm testing centre – CTV News Montreal

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MONTREAL —
A new testing clinic in the town of Mercier reached full capacity within two hours of opening on Thursday—a sign of how seriously Montérégie is taking its new COVID-19 outbreak, including its younger residents.

Many of the hundreds who lined up were young and were connected with people who attended the two teenage house parties that started the outbreak.

They admitted that having parties right now may be a bad idea.

“The young people [saw] each other too fast,” one told CTV. “We didn’t wait.”

People around Mercier have good reason for their anxieties. The outbreak has now infected more than 60 people, leading to the closure of many businesses.

“It was a little bit everywhere in Mercier, so I decided to be tested just to be sure,” said one person who arrived to be tested Thursday morning.

The region’s outbreak first started at two house parties held by teens, but it had some time to spread—in workplaces, bars and homes—before health authorities realized what was happening.

Now people are second-guessing their health and trying to figure out if their symptoms match up.

“The first day I was constantly tired,” said one young man, who said he’s been feeling sick for two days.

While they were overwhelmed by the lineup, health authorities said they’re happy to see the demand and will set up another clinic for Saturday.

“People are concerned about their health, and the health of their family, so it’s a good thing they come and get tested,” said Jade St-Jean, the spokesperson for the health district of Montérégie West.

Officials say the testing will help give them an idea of the scope of the outbreak.

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Torstar surges over first offer price amid rival bid – BNN

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Torstar Corp. rallied to an eight-month high after receiving an unsolicited offer to purchase the company by a private investor group, less than two weeks before shareholders were set to vote on an initial buyout deal by two prominent Canadian business families.

Shares of the Toronto Star parent skyrocketed 16 per cent to 72 cents on Thursday as it resumed trading after saying a competing proposal may result in a “superior offer” to an earlier bid from NordStar Capital LP. While no final decision has been made, Torstar said it’s now in discussions with the new group.

Brothers Matthew Proud, chief executive officer of Dye & Durham Corp., and Tyler Proud, head of Avesdo Inc., are leading the $58 million competing bid, around 72 cents per share, according to several media reports.

NordStar, owned by the Rivett and Bitove families, had offered to buy Torstar for 63 cents a share in cash in May, making for a price tag of $51 million.

The original deal is still “in the best interest of the company,” Torstar’s board said in a press release Thursday. “The board continues to recommend that Torstar shareholders vote in favor of the NordStar transaction.”

The break fee in the NordStar contract is $3.5 million. Currently, the arrangement has the support of Torstar’s board and its largest independent shareholder Fairfax Financial Holdings Ltd., ahead of a special meeting on July 21.

Nordstar has no plans to increase its offer. Its bid fully values Torstar based on expenses it will have to incur to grow the company and its newspapers, a spokesperson for the company said in a statement provided to BNN Bloomberg.

NordStar is controlled by Jordan Bitove and Paul Rivett. Rivett was a senior executive at Fairfax, a Toronto-based insurance and investment holding company, when it built its 40 per cent stake in Torstar’s Class B shares. He announced his retirement from the firm in February.

Bitove is a private equity executive whose family was part of the ownership group that brought the Toronto Raptors basketball franchise to the city in the 1990s.

Torstar, which also publishes more than 70 other newspapers, has been unable to turn around years of losses in advertising revenue. Before Nordstar’s offer, Torstar’s shares had slumped almost 80% since the end of 2017.

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Torstar shares halted on TSX after getting rival takeover offer for newspaper company – CBC.ca

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A second bid to buy newspaper publishing empire Torstar Corp. has emerged, one that reportedly values the company 14 per cent higher than the previous offer.

Torstar Corp. confirmed on Thursday that a second offer to buy the company has come forward, and the company’s board is currently considering the unsolicited offer by an unnamed private investor group.

Torstar “is engaging in discussions and negotiations with the New Offeror regarding its non-binding proposal,” the company said in a press release.

The company did not say who was making the offer, but the Globe and Mail newspaper first reported that the bid came from the Proud Brothers, Matthew and Tyler, who made their money in the technology sector.

The new  bid reportedly offers 72 cents a share to buy the company. That would value the company at $58 million, better than the 63-cent offer in May from the Bitove and Rivett families’ company Nordstar, which valued the company at $52 million.

Like many newspapers, the owner of the Toronto Star, Hamilton Spectator and 70 other publications across Canada has seen a precipitous drop in its paid circulation and advertising revenue, and a corresponding increase on the digital side is not making up for it.

The company took in $479 million worth of revenue in 2019, down $64.4 million or 12 per cent from 2018’s level, and spent $51 million more than it earned, according to its latest earnings.

But the company has $42 million in cash on its books, and no debt, which is what makes it an attractive acquisition even beyond the core business.

Shares in the company were halted in premarket trading on the Toronto Stock Exchange on Thursday morning, with regulators citing “pending news” as the reason for the halt.

Torstar shareholders are scheduled to vote on whether or not to accept the original NordStar offer on July 21. 

Torstar’s board says it still recommends shareholders vote for the NordStar deal, pending the discussions they are having with those who’ve made the new offer.

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