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Comparable sales at Tim Hortons fell by more than 40 per cent when the stay-at-home orders started in March. By May, those declines were around 25 per cent. Though they improved to “the negative mid-teens” by the end of July, that forward progress appears to have stalled this fall.
In the third quarter, which ended on Sept. 30, comparable sales were down by 13.7 per cent in Canada, and 12.5 per cent globally.
Bernstein senior research analyst Sara Senatore said in a note to investors on Tuesday that the comparable sales decline at Tim Hortons was in line with consensus expectations.
RBI’s Fulton said the company was “definitely seeing the impact of a very changed morning routine in Canada. Our drive-thru business is up double digits. Our delivery business is exploding. Those are all good things. But the reality is, we still have a large majority of the country that’s not going to work in the morning.”
We’re going to be really well positioned when normal routines return
Despite the trouble at breakfast, Fulton said the back-to-basics strategy was still in full swing, pointing to changes to Tim Hortons’ breakfast sandwiches, which include new English muffins, biscuits and “crispier” bacon.
“We’re going to be really well positioned when normal routines return,” he said.
RBI, which also owns Popeyes Louisiana Kitchen, also announced a plan to upgrade more than 10,000 drive-thrus at Tim Hortons and Burger King locations by 2022.
The drive-thrus have become a major asset for restaurants during the pandemic, and are responsible for up to 90 per cent of sales at some Tim Hortons locations, Fulton said.
Among the planned changes are digitized menu boards that will eventually be able to provide personalized offers to customers enrolled in a particular chain’s loyalty program.
Improving drive-thrus was one of the key tenets of the 2020 back-to-basics plan, after drive-thru response times had been slowed by the onslaught of lunch experiments in previous years.
Fulton noted the chain has toned down its experiments — known as limited time offers — this year to around 25, down from roughly 70 last year.
Freeland to deliver Liberal plan to revive Canada's post-pandemic economy today – CBC.ca
The federal government will release its long-awaited fiscal update today — a spending plan to help Canadians cope with COVID-19 while recharging the national economy and key sectors battered by the global crisis.
Deputy Prime Minister and Finance Minister Chrystia Freeland will rise in the House of Commons at 4 p.m. ET today to outline details of her plan to both boost job creation and cut greenhouse gas emissions.
Government sources have told CBC News the plan will include new but time-limited spending measures to support hard-hit industries and vulnerable Canadians, while laying the groundwork for the policy priorities presented in September’s speech from the throne.
CBC will have live coverage of today’s fiscal update starting at 4 p.m. ET. Watch it on CBC News Network, listen to it on CBC Radio One or stream it on CBC Gem or our CBC News app.
The update comes in the wake of optimistic reports suggesting promising vaccine candidates could roll out early in the new year — and as COVID-19 caseloads continue to grow alarmingly in some parts of the country. Numbers have reached record highs in some regions, prompting new or extended restrictions and business closures.
The measures in today’s economic statement are expected to include:
- Support for airlines and the tourism and hospitality sector, hit hard by heavy losses due to border closures and lockdowns. The sources suggest the update will include assistance for airlines, hotels and restaurants, and for the companies that supply them.
- Money to help long-term care homes stop the spread of infections.
- Support to help women return to work.
- Stimulus spending for infrastructure projects tied to the government’s promise to reduce greenhouse gas emissions as part of the economic recovery.
Record deficit projected
The government has not tabled a budget for this fiscal year, but in July delivered what it called a “fiscal snapshot” that projected the deficit would hit a record $343.2 billion.
The Trudeau Liberals last delivered an actual budget in March 2019, when they were still in their first mandate.
The Trudeau government has pushed back at calls to deliver an economic forecast since the current health crisis began, maintaining that the pandemic made it impossible to accurately predict economic growth or the scope of necessary emergency spending.
Conservative Leader Erin O’Toole said the government’s delays in procuring rapid testing and vaccines have put workers and the economy in a “risky” situation.
“There is no plan for the economy if we don’t have rapid testing and vaccines as swiftly as possible,” he said during a news conference in Ottawa Sunday.
“We’re already seeing small businesses teetering on the edge. That is leading to the uncertainty and the concern out there about the wellbeing of tens of thousands of Canadian families that have invested everything in their restaurant or their autoshop or a range of businesses that are close to bankruptcy.”
WATCH | What to expect in the long-awaited fiscal update:
NDP Leader Jagmeet Singh said today’s update is the perfect opportunity to announce “bold measures” to address the needs of the Canadians most severely affected by the pandemic.
“The COVID-19 pandemic has shown how fragile the services that were supposed to help people are, and the importance of strengthening our social safety net so that no one is left behind,” he told CBC News.
NDP pushes for child care support
The NDP is calling on the federal government to fund child care services that would allow more parents to return to work safely. It’s also pressing the government to launch a universal pharmacare program.
Green Party Leader Annamie Paul said it’s not enough for the government to present a “laundry list” of spending today. With a vaccine expected next year, she said, it must present a green recovery plan with economic and social investments.
“With a glimmer of hope on the horizon, it is vital that we seize this moment to prepare a green recovery plan that will engage every possible innovation, technology and resource at Canada’s disposal to enhance our ability to face challenges,” she said.
The Green Party is calling for a guarantee that any supports the Liberals offer carbon-intensive sectors are “responsible and conditional.” It also wants to see larger investments in projects and sectors that speed up progress toward a net-zero emissions economy.
Business hopes to see long-term growth plan
Business groups say they hope to see a plan today that charts a course through the ongoing crisis to long-term economic recovery and growth.
Canadian Chamber of Commerce president and CEO Perrin Beatty said he wants to see a shift from broad supports to smaller, more targeted federal programs to help the most vulnerable Canadians and sectors, including the restaurant, accommodation, arts and entertainment and retail sectors.
He said he hopes to see a plan that will boost Canada’s business investment and competitiveness — and not a suite of “unaffordable” new permanent programs.
“Even as we navigate our way through this second wave of the pandemic, Canada needs its government to set the conditions for a strong, business-led recovery. Canadian families and businesses continue to pay a high price because of COVID-19, and the hard work of getting Canada’s economy ready for recovery must start now with a clear and coherent plan,” he said in a media statement.
Cash-strapped municipalities are also looking for good news in today’s statement.
Federation of Canadian Municipalities president Garth Frizzell said he hopes to see “clear successor arrangements” to the safe restart agreement, which saw the federal government set aside $19 billion for the provinces to help them weather the second wave and drive job growth post-pandemic.
“The fall economic statement is an opportunity to build on the federal-municipal partnership that has kept Canadians safe, and essential front line services running strong, since the beginning of the pandemic,” he said.
“They rely on us to keep doing that through 2021, and that’s why municipalities need to see a clear commitment that the federal government will continue to work with us to ensure support for municipal operating and transit costs.”
Moderna says will request US, Europe vaccine authorisation Monday – Aljazeera.com
Authorisation requests in the US and Europe to come after results confirm a high efficacy estimated at 94.1 percent.
US firm Moderna said it would ask US and European regulators on Monday to allow emergency use of its COVID-19 vaccine as new study results confirm the shots offer strong protection — ramping up the race to begin limited vaccinations as the coronavirus pandemic worsens.
“Moderna plans today to request EUA (Emergency Use Authorization) from the US FDA (Food and Drug Administration),” Moderna said in a statement, adding it would also “apply for a conditional marketing authorization with the European Medicines Agency (EMA).”
Multiple vaccine candidates must succeed for the world to stamp out the pandemic, which has been on the upswing in the US and Europe.
US hospitals have been stretched to the limit as the nation has seen more than 160,000 new cases per day and more than 1,400 daily deaths.
Since first emerging nearly a year ago in China, the virus has killed more than 1.4 million people worldwide.
Moderna is just behind Pfizer and its German partner BioNTech in seeking to begin vaccinations in the US in December.
Across the Atlantic, British regulators also are assessing the Pfizer shot and another from AstraZeneca.
Moderna created its shots with the US National Institutes of Health and already had a hint they were working, but said it got the final needed results over the weekend that suggest the vaccine is more than 94 percent effective.
Of 196 COVID-19 cases so far in its huge US study, 185 were trial participants who received the placebo and 11 who got the real vaccine.
The only people who got severely ill — 30 participants, including one who died — had received dummy shots, said Dr. Tal Zaks, the Cambridge, Massachusetts, company’s chief medical officer.
When he learned the results, “I allowed myself to cry for the first time,” Zaks told The Associated Press.
“We have already, just in the trial, have already saved lives. Just imagine the impact then multiplied to the people who can get this vaccine.”
Moderna said the shots’ effectiveness and a good safety record so far — with only temporary, flu-like side effects — mean they meet requirements set by the US Food and Drug Administration for emergency use before the final-stage testing is complete.
The European Medicines Agency, Europe’s version of FDA, has signaled it also is open to faster, emergency clearance.
Britain secures additional 2 million doses of Moderna’s COVID-19 vaccine; appoints vaccines minister – The Globe and Mail
Britain has secured an additional two million doses of Moderna Inc’s COVID-19 vaccine candidate, the government said in a statement on Sunday.
Following the latest deal, Britain has access to enough doses of Moderna’s vaccine candidate for around 3.5 million people. Overall, it has access to 357 million doses of vaccines from 7 different developers, according to the statement.
“With a wide range of vaccine candidates in our portfolio, we stand ready to deploy a vaccine should they receive approval from our medicines regulator, starting with those who will benefit most,” Britain’s health minister, Matt Hancock, said in the statement.
On Saturday, the British government appointed a vaccines minister as it prepares to inoculate millions of people against the coronavirus, potentially starting within days.
Prime Minister Boris Johnson said Conservative lawmaker Nadhim Zahawi will oversee the country’s biggest vaccine program in decades.
The U.K. medicines regulator is currently assessing two vaccines — one developed by Pfizer and BioNTech, the other by Oxford University and AstraZeneca — to see if they are safe and effective. The Guardian newspaper reported that hospitals have been told they could receive the first doses of the Pfizer shot the week of Dec. 7, if it receives approval.
The U.K. says frontline health care workers and nursing home residents will be the first to be vaccinated, followed by older people, starting with those over age 80.
Britain has ordered 40 million doses of the Pfizer/BioNTech vaccine, enough for 20 million people, and 100 million doses of the Oxford/AstraZeneca vaccine.
In all, the U.K. government has agreed to purchase up to 355 million doses of vaccine from seven different producers, as it prepares to vaccinate as many of the country’s 67 million people as possible.
Decisions about which, if any, vaccines to authorize will be made by the independent Medicines and Healthcare Products Regulatory Agency.
Pfizer and BioNTech say their vaccine is 95% effective, according to preliminary data. It must be stored at ultra-cold temperatures of around minus 70 degrees Celsius (minus 94 Fahrenheit).
The Oxford-AstraZeneca vaccine can be stored at conventional refrigerator temperatures, and is also cheaper than its main rivals. But some scientists have questioned gaps in its reported results.
Oxford and AstraZeneca reported this week that their vaccine appeared to be 62% effective in people who received two doses, and 90% effective when volunteers were given a half dose followed by a full dose. They said the half dose was administered because of a manufacturing error, and they plan a new clinical trial to investigate the most effective dosing regimen.
The British government hopes a combination of vaccines and mass testing will end the need for restrictions on business and everyday life it imposed to curb the spread of the coronavirus. Britain has had Europe’s deadliest COVID-19 outbreak, with more than 57,000 confirmed virus-related deaths.
The prime minister said this week that officials hope to inoculate “the vast majority of the people who need the most protection by Easter.” But he warned that “we must first navigate a hard winter” of restrictions.
A four-week national lockdown in England is due to end Wednesday, and will be replaced by three-tiered system of regional measures that restrict business activity, travel and socializing. The vast majority of the country is being put into the upper two tiers.
The restrictions have sparked protests, with police arresting scores of people at an anti-lockdown demonstration in London on Saturday.
Several bottles and smoke bombs were thrown as anti-mask and anti-vaccine demonstrators scuffled with officers in the city’s West End shopping district. The Metropolitan Police force said 155 people were arrested.
Johnson also faces opposition to the measures from dozens of his own Conservative Party’s lawmakers, who say the economic damage outweighs the public health benefits.
Bur Cabinet minister Michael Gove said the restrictions were “grimly” necessary to avoid the health system being overwhelmed this winter.
Writing in The Times of London, Gove said there are currently 16,000 coronavirus patients in British hospitals, not far below the April peak of 20,000. A rise in infections would mean coronavirus patients would “displace all but emergency cases. And then even those.,” he said.
“If, however, we can keep the level of infection stable or, even better, falling, and hold out through January and February, then we can be confident that vaccination will pull the plug on the problem,” Gove wrote.
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