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Ontario identifies first cases of COVID-19 U.K. variant in the province – CBC.ca

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Ontario announced on Saturday its first two confirmed cases in the province of the COVID-19 variant, first identified in the United Kingdom.

Ontario is the first province to identify the new COVID-19 variant.

The confirmed cases identified are from a couple from Durham Region with no known travel history, exposure or high-risk contacts, Dr. Barbara Yaffe, Ontario’s associate chief medical officer of health, said in a news release on Saturday. Durham Region is east of Toronto.

Both individuals have been informed and are now in self-isolation as per public health protocols, it said.

“This further reinforces the need for Ontarians to stay home as much as possible and continue to follow all public health advice, including the provincewide shutdown measures beginning today,” Yaffe said.

“Durham Region Health Department has conducted case and contact investigation and Ontario is working in collaboration with our federal counterparts at the Public Health Agency of Canada.”

The variant has now been detected in multiple countries beyond Britain, including Denmark, Belgium, Australia and the Netherlands.

With inbound international travel, it is not unexpected to have identified the new variant in Ontario, the news release said.

No evidence new variant more severe: PHAC

The federal government currently has a monitoring program in place with the provinces and territories to identify new COVID-19 variants in the country, such as the ones identified in the United Kingdom and South Africa.

“While early data suggests that these new variants may be more transmissible, to date there is no evidence that they cause more severe disease or have any impact on antibody response or vaccine effectiveness,” the Public Health Agency of Canada (PHAC) said in a statement on Saturday.

“More research is required to confirm these findings, and the Canadian and global medical, public health and research communities are actively evaluating these mutations.”

As monitoring continues, PHAC says it is expected that other cases of this variant, along with other variants of concern, will be found in Canada.

“Furthermore, as these two cases did not travel outside of Canada, it is important to follow public health measures and limit contacts with others, to reduce the transmission of the virus and any of its variants in communities,” it said.

“Recognizing the potential increased risk that inbound international travellers may pose with this new variant, the province continues to call on the federal government to urgently partner with Ontario to implement testing at Toronto Pearson International Airport.”

Earlier this week, Ontario Premier Doug Ford said the federal government wasn’t doing enough to protect Ontario from international travellers, suggesting they’re a problematic source of COVID-19 spread in the province.

However, based on the provincial government’s own statistics, travel-related COVID-19 cases represent a small number of infections.

“Regardless of whether federal support is forthcoming, the Ontario government is prepared to act on its own to implement an airport testing program,” the news release said.

Ontario under provincewide lockdown starting Saturday

Ontario entered a provincewide lockdown at 12:01 a.m. on Boxing Day in a bid to curb the spread of the novel coronavirus.

The province has reported more than 2,000 cases 12 days in a row, including 2,142 new positive tests on Saturday and 2,159 cases on Christmas Day.

During those days, Ontario reported 81 additional deaths.

The new measures mean restaurants in the province can only provide takeout and delivery.

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Latest worldwide spread of the coronavirus

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Russia has tightened curbs in major cities as authorities blame the new Delta variant for spiking cases and deaths, while neighbouring Ukraine has registered its first two cases of the more infectious virus type.

DEATHS AND INFECTIONS

* Eikon users, see COVID-19: MacroVitals https://apac1.apps.cp.thomsonreuters.com/cms/?navid=1592404098 for a case tracker and summary of news

EUROPE

* The European Centre for Disease Prevention and Control has said the more contagious Delta variant, first identified in India, will represent 90% of all SARS-CoV-2 viruses circulating in the European Union by the end of August.

* Spain has vaccinated half of its 47 million population with at least one dose and nearly 32%, or over 15 million people, have been fully inoculated.

* The share of infections caused by the Delta variant of the coronavirus has doubled in Germany in a week and is likely to gain more traction over other variants.

* Greece will end the mandatory wearing of face masks outdoors and ease other remaining restrictions.

ASIA-PACIFIC

* Japan is suspending approval for companies to inoculate staff amid concerns that an increase in such applications will hamper smooth delivery of vaccines.

* Alcohol, high-fives and talking loudly will be banned for the reduced numbers of Olympic ticket holders allowed into venues.

* Australia’s largest city of Sydney reintroduced “soft touch” curbs to contain a widening outbreak of the Delta variant.

AMERICAS

* A Brazilian Senate committee has formally approved a request to call representatives of Google, Facebook and Twitter to testify in an ongoing probe into the government’s handling of the pandemic.

* Canada will further relax border restrictions in the weeks to come as long as the science supports such a move, Prime Minister Justin Trudeau said.

* Federal authorities have seized at U.S. airports unauthorised versions of remdesivir destined for distribution in Mexico, the Wall Street Journal reported. [nL2N2O51U0]

MIDDLE EAST AND AFRICA

* South Africa’s health regulator said it had received documentation for China’s Sinopharm vaccine and will evaluate the data to assess the efficacy of the shot.

* Israel empowered health officials to quarantine anyone deemed to have been exposed to the especially infectious Delta variant.

* Bahrain will extend by three months a government support program for businesses hard hit by the pandemic.

MEDICAL DEVELOPMENTS

* Rare cases of heart inflammation in adolescents and young adults are likely linked to vaccination with the Pfizer/BioNTech and Moderna shots, a group of doctors advising the U.S. Centers for Disease Control and Prevention said.

* Vaccines made by AstraZeneca and the Pfizer-BioNTech alliance remain broadly effective against Delta and Kappa variants. [nL3N2O43IN]

* The University of Oxford said it was testing anti-parasitic drug ivermectin as a possible treatment for COVID-19.

ECONOMIC IMPACT

* Wall Street and global equity markets were broadly higher on Wednesday after reassurances from U.S. Federal Reserve Chair Jerome Powell that the central bank is not rushing to hike interest rates, while European stocks remained under pressure. [MKTS/GLOB]

* A period of high inflation in the United States may last longer than anticipated but should still ease over time as the economy settles back to normal, two U.S. Federal Reserve officials said.

* Euro zone business growth accelerated at its fastest pace in 15 years in June as the easing of lockdown measures unleashed pent-up demand and drove a boom in the dominant services sector but also led to soaring price pressures.

(Compiled by Ramakrishnan M. and Juliette Portala; Edited by Arun Koyyur)

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Canada’s M&A boom fuels hiring spree, higher pay

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Record-breaking dealmaking in Canada is encouraging investment banks to beef up staffing, but the increased demand for bankers is forcing some to pay up in unique ways to attract new hires.

Canadian mergers and acquisitions (M&A) year to date surged to a record $206.5 billion and IPOs hit an all-time high of $5.6 billion, according to Refinitiv, after the pandemic crushed dealmaking in the first three quarters of 2020.

HSBC, JPMorgan Chase & Co and National Bank of Canada are expanding their M&A teams.

“It continues to be an active market with lots of active discussions with clients going on as well, and so that has absolutely spurred on a need to fortify the ranks within the teams,” said Scott Lampard, head of global banking for HSBC Bank Canada.

HSBC plans to boost overall investment banking headcount by 20%-25%, mainly at the analyst level to support pitching and executing deals, Lampard said.

PENT-UP DEMAND

With the pace of transaction expected to continue at pace, banks are paying more to hire and retain existing teams, offering a range of new services, like sending in a consultant to create the ideal home office, recruiters say.

“We’ve been doing this for nearly 20 years and we’ve never seen a market like this,” said Bill Vlaad, CEO at recruitment firm Vlaad and Company. “Everybody is scrambling,”

“Many of the banks have increased base salaries quite dramatically, mostly in 2021,” he said, adding salaries had increased 20%-40% across M&A roles.

“Now if you want to attract, you have to put something else on the table.”

To poach talent, banks are adding signing bonuses, extra vacation days, healthcare increases, special programs for mental wellness and home office perks, all tailored to individual requests, Vlaad said.

TD Securities, Barclays, CIBC World Markets are the top M&A advisers year to date. All three declined to comment on hiring plans.

Of the top deals announced this year, Rogers Communications Inc’s C$20 billion ($16.2 billion) bid for Shaw Communications Inc and Canadian National’s bid $33.6 billion offer for Kansas City Southern are the two biggest.

Despite the pandemic, five of the top six Canadian banks paid an average of C$3.1 billion ($2.50 billion) in total bonuses last year, up from C$2.9 billion ($2.34 billion) in 2019, an analysis of filings by Reuters showed.

Headcount at National Bank Finance will be up by four or five people in M&A versus the same time last year, David Savard, head of M&A at the bank, told Reuters.

That put the team at 28 for the large-cap M&A team and 10 for the mid-market team, he said, adding both areas were “booming”.

“There seems to be some pent-up demand for entrepreneurial-led companies and private companies doing M&A coming out of COVID,” he said.

David Rawlings, CEO for JPMorgan Canada, agreed headcount would be likely higher in the near future.

“We think activity will continue to be strong and are currently looking to selectively hire with a particular focus on senior diverse candidates,” said Rawlings.

($1 = 1.2453 Canadian dollars)

(Reporting by Maiya Keidan; Editing by Denny Thomas and Lisa Shumaker)

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French court overturns ruling saying sale of cannabidiol is illegal

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France’s highest appeals court on Wednesday overturned a ruling that stores in the country can’t legally sell cannabidiol (CBD), a non-psychotic compound related to cannabis that is being researched for a variety of medical applications.

Based on the free trade of goods within the European Union, the Cour de cassation ruled that judges could not find the sale of CBD in France illegal if it had been legally produced in a member state of the bloc.

The Court of Justice of the EU ruled last year that no national law can prohibit the sale of CBD legally produced in a member state, the French court also said.

“Without considering whether the substances seized had not been legally produced in another member state of the European Union, the court failed to provide a basis for its decision,” it said, referring to a ruling of a lower appeals court.

The Cour de cassation did not rule whether selling CBD in France was legal or not, and ordered a lower court to rule again on a case involving the owner of a shop selling CBD.

“We are happy”, CBD shop owner Mathieu Bensa, who was not involved in the case, told Reuters after the ruling.

“We did not understand why France was the last country in the European Union that had not given access to the sale of hemp plants”, he said.

Derived mainly from the hemp plant, CBD is increasingly used as a relaxant.

Cannabis stocks have attracted growing interest on world stock markets, particularly on the Toronto stock exchange after Canada became one of the first major economies to legalise the recreational use of marijuana.

Cannabis use is outlawed in France but the country has one of Europe’s highest consumption rates.

(Reporting by Matthieu Protard, Benoit Van Overstraeten and Ardee Napolitano; Editing by Mark Potter)

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