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Pearson delays: Airport lines leave people stuck | CTV News – CTV News Toronto

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People flying out of Toronto Pearson International Airport are being warned about delays getting through security as travellers wait in massive lines to get onto their flights.

Airport spokesperson Tori Gass said in a statement Monday passengers need to “pack their patience” and arrive early as Toronto Pearson experiences “longer-than-expected” wait times at security checkpoints.

When asked about the cause for the delays, the Canadian Air Transport Security Authority (CATSA) told CTV News Toronto they are experiencing issues with staffing.

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“CATSA’s screening contractors are not immune to the recruitment and retention challenges experienced by the broader commercial aviation industry,” the CATSA said in a statement. 

The agency said they are addressing the challenge for the future by ramping up staffing and continued information sharing with airline partners.

“Prior to the pandemic, resources could be cross-utilized more efficiently between the transborder and domestic and international checkpoints due to staggered passenger peaks,” the CATSA said.

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“As air travel recovers we are observing simultaneous peaks, which can result in passengers flooding more than one security checkpoint at a time, making the redistribution of resources to address these passenger volumes more challenging.”

The CATSA said passengers are also increasingly opting to travel with more carry-on bags, which means longer processing times for travellers at security check points.

NDP MP Matthew Green said he was travelling through Toronto Pearson on Monday morning on his way back to Ottawa, and what he experienced was “an absolute gong show.”

“Line up into the gate is at least 500-plus deep,” Green wrote on Twitter. “There is no way I’m making this 8:10 Air Canada flight.”

Green told CTV News Toronto he did not make his plane and was rescheduled to another flight later in the day.

Another traveller wrote on Twitter he has “never seen delays like this at Pearson.”

“It’s a chaotic situation. Police are helping to control the lines,” Doug Asp wrote.

Gass said in the statement employees in the terminals are “doing their best” to process passengers through security.

“We kindly ask passengers to treat employees with respect,” she said.

DELAYS COULD LAST WEEKS, TRANSPORT MINISTER SAYS

Federal Transport Minister Omar Alghabra was asked about the long lines at Toronto Pearson on Monday.

“I’m a traveller myself and I’ve seen line-ups grow over the last few weeks,” Alghabra said. “I have been working and Transport Canada has been working with CATSA on ensuring that we have the adequate resources to respond to the surge of need for travellers.”

He said Canadian airports are seeing “a lot of appetite for people to travel, quickly” and warned he doesn’t think the federal government is going to be able to “immediately be able to resolve this.”

“It’s going to take some time to ramp up, so I think it’s reasonable to assume a few weeks for us to get all the resources necessary.”

The issue isn’t unique to Toronto Pearson. Other Canadian airports, like Vancouver International Airport, are experiencing increased wait times as well.

HOW EARLY BEFORE SHOULD I ARRIVE BEFORE MY FLIGHT?

According to Toronto Pearson’s website, passengers flying domestically should arrive at the airport 90 minutes before their flight.

For those travelling internationally, it is recommended that passengers arrive at least three hours before their scheduled departure time.

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Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin's Fourth Halving Arrives – Investor's Business Daily

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[unable to retrieve full-text content]

  1. Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin’s Fourth Halving Arrives  Investor’s Business Daily
  2. Iran fires at apparent Israeli attack drones: Mideast tensions  The Associated Press
  3. S&P 500 extends losing streak to sixth day, Dow up 210 points  Yahoo Canada Finance
  4. Stock Market Today: Dow, S&P Live Updates for April 19  Bloomberg
  5. Stock market today: Wall Street limps toward its longest weekly losing streak since September  CityNews Kitchener

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Netflix stock sinks on disappointing revenue forecast, move to scrap membership metrics – Yahoo Canada Finance

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Netflix (NFLX) stock slid as much as 9.6% Friday after the company gave a second quarter revenue forecast that missed estimates and announced it would stop reporting quarterly subscriber metrics closely watched by Wall Street.

On Thursday, Netflix guided to second quarter revenue of $9.49 billion, a miss compared to consensus estimates of $9.51 billion.

The company said it will stop reporting quarterly membership numbers starting next year, along with average revenue per member, or ARM.

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“As we’ve evolved our pricing and plans from a single to multiple tiers with different price points depending on the country, each incremental paid membership has a very different business impact,” the company said.

Netflix reported first quarter earnings that beat across the board on Thursday, with another 9 million-plus subscribers added in the quarter.

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Subscriber additions of 9.3 million beat expectations of 4.8 million and followed the 13 million net additions the streamer added in the fourth quarter. The company added 1.7 million paying users in Q1 2023.

Revenue beat Bloomberg consensus estimates of $9.27 billion to hit $9.37 billion in the quarter, an increase of 14.8% compared to the same period last year as the streamer leaned on revenue initiatives like its crackdown on password-sharing and ad-supported tier, in addition to the recent price hikes on certain subscription plans.

Netflix’s stock has been on a tear in recent months, with shares currently trading near the high end of its 52-week range. Wall Street analysts had warned that high expectations heading into the print could serve as an inherent risk to the stock price.

Earnings per share (EPS) beat estimates in the quarter, with the company reporting EPS of $5.28, well above consensus expectations of $4.52 and nearly double the $2.88 EPS figure it reported in the year-ago period. Netflix guided to second quarter EPS of $4.68, ahead of consensus calls for $4.54.

Profitability metrics also came in strong, with operating margins sitting at 28.1% for the first quarter compared to 21% in the same period last year.

The company previously guided to full-year 2024 operating margins of 24% after the metric grew to 21% from 18% in 2023. Netflix expects margins to tick down slightly in Q2 to 26.6%.

Free cash flow came in at $2.14 billion in the quarter, above consensus calls of $1.9 billion.

Meanwhile, ARM ticked up 1% year over year — matching the fourth quarter results. Wall Street analysts expect ARM to pick up later this year as both the ad-tier impact and price hike effects take hold.

On the ads front, ad-tier memberships increased 65% quarter over quarter after rising nearly 70% sequentially in Q3 2023 and Q4 2023. The ads plan now accounts for over 40% of all Netflix sign-ups in the markets it’s offered in.

FILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File PhotoFILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo

Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo (REUTERS / Reuters)

Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.

For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here

Read the latest financial and business news from Yahoo Finance

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Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack – OilPrice.com

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Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack | OilPrice.com



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Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

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  • Oil prices initially spiked on Friday due to unconfirmed reports of an Israeli missile strike on Iran.
  • Prices briefly reached above $90 per barrel before falling back as Iran denied the attack.
  • Iranian media reported activating their air defense systems, not an Israeli strike.

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Oil prices gave up nearly all of early Friday’s gains after an Iranian official told Reuters that there hadn’t been a missile attack against Iran.

Oil surged by as much as $3 per barrel in Asian trade early on Friday after a U.S. official told ABC News today that Israel launched missile strikes against Iran in the early morning hours today. After briefly spiking to above $90 per barrel early on Friday in Asian trade, Brent fell back to $87.10 per barrel in the morning in Europe.

The news was later confirmed by Iranian media, which said the country’s air defense system took down three drones over the city of Isfahan, according to Al Jazeera. Flights to three cities including Tehran and Isfahan were suspended, Iranian media also reported.

Israel’s retaliation for Iran’s missile strikes last week was seen by most as a guarantee of escalation of the Middle East conflict since Iran had warned Tel Aviv that if it retaliates, so will Tehran in its turn and that retaliation would be on a greater scale than the missile strikes from last week. These developments were naturally seen as strongly bullish for oil prices.

However, hours after unconfirmed reports of an Israeli attack first emerged, Reuters quoted an Iranian official as saying that there was no missile strike carried out against Iran. The explosions that were heard in the large Iranian city of Isfahan were the result of the activation of the air defense systems of Iran, the official told Reuters.

Overall, Iran appears to downplay the event, with most official comments and news reports not mentioning Israel, Reuters notes.

The International Atomic Energy Agency (IAEA) said that “there is no damage to Iran’s nuclear sites,” confirming Iranian reports on the matter.

The Isfahan province is home to Iran’s nuclear site for uranium enrichment.

“Brent briefly soared back above $90 before reversing lower after Iranian media downplayed a retaliatory strike by Israel,” Saxo Bank said in a Friday note.

The $5 a barrel trading range in oil prices over the past week has been driven by traders attempting to “quantify the level of risk premium needed to reflect heightened tensions but with no impact on supply,” the bank said, adding “Expect prices to bid ahead of the weekend.”

At the time of writing Brent was trading at $87.34 and WTI at $83.14.

By Tsvetana Paraskova for Oilprice.com

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