Connect with us

Business

Ontario reports 1,388 new coronavirus infections, 45 more deaths – CP24 Toronto's Breaking News

Published

 on


Ontario is reporting 1,388 new COVID-19 cases on Saturday, continuing a downward trend of new infections this week.

However, the province has reported inconsistencies with its daily reporting over the past week as a result of Toronto Public Health migrating to the provincial data management system.

On Friday, Ontario logged 1,670 new cases but the province said yesterday’s count is an overestimation due to additional cases reported by Toronto Public Health.

There were 1,563 new infections reported on Thursday, 1,172 on Wednesday and 745 on Tuesday, but the province said that number is an underestimation due to the data migration.

The province’s seven-day rolling average is now 1,479, compared to 1,968 a week ago.

Provincial health officials are also reporting 45 more deaths on Saturday, with 22 among long-term care home residents.

There are currently 224 long-term care homes and 122 retirement homes with an active outbreak of COVID-19.

To date, 3,627 residents in long-term care have died due to COVID-19 infection, representing 56 per cent of all virus-related fatalities in the province.

Ontario’s death toll from the disease caused by the novel coronavirus stands at 6,438.

According to the province’s latest epidemiological summary, 1,796 more people have recovered from the virus.

There are currently 15,269 active cases of COVID-19 across the province.

Since the virus first emerged last January, there have been 276,718 lab-confirmed cases of COVID-19 and 254,966 recoveries across the province.

There are currently 164 lab-confirmed cases of the B.1.1.7 variant, which originated in the U.K., and only one case of the South African B.1.351 variant in Ontario.

These variants of concern first emerged in the province in late December and are considered to be highly contagious.

Most of today’s cases continue to be throughout the Greater Toronto Area.

“Locally, there are 455 new cases in Toronto, 288 in Peel and 131 in York Region,” Health Minister Christine Elliott tweeted.

Elsewhere in the GTA, Halton Region logged 42 new cases, a notable drop from 100 a day ago, while Durham Region recorded 46 infections, unchanged from a day ago.

More than 62,300 tests were processed in the past 24-hour span, roughly unchanged from Friday.

According to the Ministry of Health, the province’s positivity rate now stands at 2.6 per cent, continuing a steady decline in the positivity rate since Feb. 1

Hospitalizations have also been dropping consistently, according to provincial health officials.

There are currently at least 1,021 people hospitalized with the virus across the province, down from 1,043 on Friday. Of those hospitalized, 325 are in intensive care units and 228 are breathing with the help of a ventilator.

More than 96,500 people fully vaccinated

As of 8 p.m. on Friday, 96,573 people have been fully vaccinated against the virus in Ontario. Full immunization requires two doses of either the approved Pfizer-BioNtech or Moderna vaccines.

Since mid-December, the province has administered more than 372,600 doses of COVID-19 vaccines.

The numbers used in this story are found in the Ontario Ministry of Health’s COVID-19 Daily Epidemiologic Summary. The number of cases for any city or region may differ slightly from what is reported by the province, because local units report figures at different times.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

GameStop shares surge more than 100 per cent – CTV News

Published

 on


GameStop shares climbed rapidly and were halted twice for volatility ahead of the closing bell Wednesday. The gaming retailer’s stock was priced at $91.71 at market close, up nearly 104% from the previous day.

Shares were halted once around 3:40pm ET after climbing nearly 74%, and again just over 10 minutes later after gaining 104%. GameStop’s trading volume was roughly three times higher the five-day average for the stock, according to data provider Refinitiv.

Less than an hour after the closing bell, the stock was on the move again — gaining nearly 90% in after-hours trading.

Having déjà vu yet? The surge comes about a month after a wild GameStop trading frenzy caused its stock to jump around 1,600% in a matter of days, though it quickly fell from highs around $350. The late January surge was fueled by individual retail investors, many from the Reddit page WallStreetBets, some of whom believed the GameStop was undervalued and others who wanted to squeeze hedge funds that had shorted the stock.

The jump in GameStop also comes a day after the company announced its chief financial officer would resign next month to help “accelerate GameStop’s transformation,” which could fuel investors who believe in the long-term value of the retailer and its ability to shift from relying on physical stores to an e-commerce sales model.

AMC, another “meme stock” involved in the trading frenzy last month, also jumped around 18% on Wednesday.

Redditors on WallStreetBets cheered as GameStop soared. Posts on the subreddit included diamond emojis (a reference to holding a stock long term) and titles like “NEXT STOP IS THE MOON BABY” with rocket emojis, representing a belief that the stock will continue its upward trajectory.

Some GameStop investors have talked publicly about not selling their positions in the company during last month’s trading frenzy because they believe in its long-term potential.

Around 4pm, the entire Reddit site was down for many users, though the company did not identify the cause of the outage. Within about half an hour, Reddit said it had identified the underlying issue and “systems are beginning to recover.”

Let’s block ads! (Why?)



Source link

Continue Reading

Business

RBC warns of credit performance dependence on government aid after profit beat

Published

 on

By Nichola Saminather and Noor Zainab Hussain

(Reuters) – Royal Bank of Canada executives cautioned on Wednesday that the company’s 2021 credit performance hinges on the outlook for government support after its quarterly profit beat estimates on much lower than expected provisions for loan losses.

RBC, Canada‘s top lender, also flagged a moderation in trading activity this year.

National Bank of Canada, which also beat profit expectations, said trading revenues could decline if volumes come off following recent surges, some of which Chief Executive Louis Vachon attributed to “pockets of irrational exuberance” and distortions caused by quantitative easing.

Both banks posted record earnings in their capital markets businesses in the first quarter.

RBC and National Bank, the smallest of Canada‘s six major lenders, followed rivals Bank of Montreal and Bank of Nova Scotia in posting better-than-expected profits that have also now surpassed pre-pandemic levels.

Canadian banks have largely avoided an increase in soured loans thanks to several government assistance measures, expected to end this summer.

While BMO and RBC released some reserves on performing loans during the quarter, signaling an improving outlook for loan losses, RBC said delinquencies will still increase for the remainder of 2021, accompanied by a rise in impaired loan provisions.

RBC Chief Risk Officer Graeme Hepworth told analysts the degree to which the government support is extended or transformed “will drive … the expectations and implications for our credit performance in the latter half of the year.”

National Bank executives said that while loan losses could be lower than initially thought, the bank is maintaining its provisions on performing loans.

Despite the somewhat murky credit picture, RBC executives said they were heartened by expected improvement in the second half on expectations of growth in higher-margin loans like commercial and credit cards as businesses reopen and the economy recovers.

RBC shares rose 0.3% to C$112.53 in afternoon trading in Toronto, while National Bank stock was up 4.6% at C$79.30, both heading for their highest close on record. The Toronto stock benchmark was up 0.9%.

Canadian lending rose 6% in the three months through January at RBC but this was driven entirely by increases in residential mortgages.

RBC expects continued mortgage growth will help drive a consumer-led recovery in its Canadian banking unit, based on a forecast of high-single-digit growth in Canadian housing prices this year, following a record year in 2020 for resale activity.

RBC reported adjusted cash earnings of C$2.69 per share versus analysts’ expectations of C$2.26. National Bank’s adjusted income rose to C$2.15 per share, compared with estimates of C$1.71.

 

(Reporting by Nichola Saminather in Toronto and Noor Zainab Hussain in Bengaluru; Additional reporting by Sohini Podder in Bengaluru; Editing by Amy Caren Daniel, Matthew Lewis and Marguerita Choy)

Continue Reading

Business

J&J's single-shot COVID-19 vaccine is safe and effective, says FDA – Yahoo Canada Finance

Published

 on


The Canadian Press

A look at COVID-19 vaccinations in Canada on Wednesday, Feb. 24, 2021

The latest numbers on COVID-19 vaccinations in Canada as of 10:30 p.m. ET on Wednesday, Feb. 24, 2021. In Canada, the provinces are reporting 49,917 new vaccinations administered for a total of 1,652,282 doses given. The provinces have administered doses at a rate of 4,359.666 per 100,000. There were 36,279 new vaccines delivered to the provinces and territories for a total of 2,040,089 doses delivered so far. The provinces and territories have used 80.99 per cent of their available vaccine supply. Please note that Newfoundland, P.E.I., Nova Scotia, New Brunswick and the territories typically do not report on a daily basis. Newfoundland is reporting 3,827 new vaccinations administered over the past seven days for a total of 20,285 doses given. The province has administered doses at a rate of 38.739 per 1,000. There were 2,340 new vaccines delivered to Newfoundland for a total of 26,800 doses delivered so far. The province has received enough of the vaccine to give 5.1 per cent of its population a single dose. The province has used 75.69 per cent of its available vaccine supply. P.E.I. is reporting 1,020 new vaccinations administered over the past seven days for a total of 11,630 doses given. The province has administered doses at a rate of 73.316 per 1,000. There were zero new vaccines delivered to P.E.I. for a total of 13,045 doses delivered so far. The province has received enough of the vaccine to give 8.2 per cent of its population a single dose. The province has used 89.15 per cent of its available vaccine supply. Nova Scotia is reporting 5,188 new vaccinations administered over the past seven days for a total of 29,237 doses given. The province has administered doses at a rate of 29.959 per 1,000. There were zero new vaccines delivered to Nova Scotia for a total of 47,280 doses delivered so far. The province has received enough of the vaccine to give 4.8 per cent of its population a single dose. The province has used 61.84 per cent of its available vaccine supply. New Brunswick is reporting 5,135 new vaccinations administered over the past seven days for a total of 26,317 doses given. The province has administered doses at a rate of 33.738 per 1,000. There were zero new vaccines delivered to New Brunswick for a total of 35,015 doses delivered so far. The province has received enough of the vaccine to give 4.5 per cent of its population a single dose. The province has used 75.16 per cent of its available vaccine supply. Quebec is reporting 10,932 new vaccinations administered for a total of 376,910 doses given. The province has administered doses at a rate of 44.049 per 1,000. There were zero new vaccines delivered to Quebec for a total of 509,325 doses delivered so far. The province has received enough of the vaccine to give 6.0 per cent of its population a single dose. The province has used 74 per cent of its available vaccine supply. Ontario is reporting 17,141 new vaccinations administered for a total of 602,848 doses given. The province has administered doses at a rate of 41.041 per 1,000. There were zero new vaccines delivered to Ontario for a total of 683,255 doses delivered so far. The province has received enough of the vaccine to give 4.7 per cent of its population a single dose. The province has used 88.23 per cent of its available vaccine supply. Manitoba is reporting 2,402 new vaccinations administered for a total of 66,372 doses given. The province has administered doses at a rate of 48.20 per 1,000. There were 14,040 new vaccines delivered to Manitoba for a total of 98,850 doses delivered so far. The province has received enough of the vaccine to give 7.2 per cent of its population a single dose. The province has used 67.14 per cent of its available vaccine supply. Saskatchewan is reporting 1,003 new vaccinations administered for a total of 63,345 doses given. The province has administered doses at a rate of 53.721 per 1,000. There were zero new vaccines delivered to Saskatchewan for a total of 59,395 doses delivered so far. The province has received enough of the vaccine to give 5.0 per cent of its population a single dose. The province has used 106.7 per cent of its available vaccine supply. Alberta is reporting 5,817 new vaccinations administered for a total of 186,572 doses given. The province has administered doses at a rate of 42.383 per 1,000. There were zero new vaccines delivered to Alberta for a total of 205,875 doses delivered so far. The province has received enough of the vaccine to give 4.7 per cent of its population a single dose. The province has used 90.62 per cent of its available vaccine supply. British Columbia is reporting 6,521 new vaccinations administered for a total of 230,875 doses given. The province has administered doses at a rate of 44.991 per 1,000. There were 19,899 new vaccines delivered to British Columbia for a total of 307,849 doses delivered so far. The province has received enough of the vaccine to give 6.0 per cent of its population a single dose. The province has used 75 per cent of its available vaccine supply. Yukon is reporting 941 new vaccinations administered for a total of 14,364 doses given. The territory has administered doses at a rate of 344.205 per 1,000. There were zero new vaccines delivered to Yukon for a total of 18,900 doses delivered so far. The territory has received enough of the vaccine to give 45 per cent of its population a single dose. The territory has used 76 per cent of its available vaccine supply. The Northwest Territories are reporting zero new vaccinations administered for a total of 16,454 doses given. The territory has administered doses at a rate of 364.68 per 1,000. There were zero new vaccines delivered to the Northwest Territories for a total of 19,100 doses delivered so far. The territory has received enough of the vaccine to give 42 per cent of its population a single dose. The territory has used 86.15 per cent of its available vaccine supply. Nunavut is reporting 62 new vaccinations administered for a total of 7,073 doses given. The territory has administered doses at a rate of 182.642 per 1,000. There were zero new vaccines delivered to Nunavut for a total of 15,400 doses delivered so far. The territory has received enough of the vaccine to give 40 per cent of its population a single dose. The territory has used 45.93 per cent of its available vaccine supply. *Notes on data: The figures are compiled by the COVID-19 Open Data Working Group based on the latest publicly available data and are subject to change. Note that some provinces report weekly, while others report same-day or figures from the previous day. Vaccine doses administered is not equivalent to the number of people inoculated as the approved vaccines require two doses per person. The vaccines are currently not being administered to children under 18 and those with certain health conditions. In some cases the number of doses administered may appear to exceed the number of doses distributed as some provinces have been drawing extra doses per vial. This report was automatically generated by The Canadian Press Digital Data Desk and was first published Feb. 24, 2021. The Canadian Press

Let’s block ads! (Why?)



Source link

Continue Reading

Trending