adplus-dvertising
Connect with us

Business

Toronto restaurant sends Premier Doug Ford $431 bill for spoiled beer – CTV Toronto

Published

 on


TORONTO —
A Toronto restaurant has sent Ontario Premier Doug Ford a $431 invoice for beer they say will spoil as a result of the provincewide shutdown.

Michael Hunter, co-owner of Antler Kitchen & Bar in the city’s west end, told CP24 that he sent the premier an invoice for two kegs of beer he purchased after being told Toronto restaurants could reopen their patios.

“We haven’t been buying draft beer because we can’t sell draft for our curbside pickup and takeout, so for the patio weekend we decided okay, we’re open for the patio, now let’s buy these kegs,” Hunter said. “We tapped the kegs, hooked them up to our lines, had the lines cleaned, only for a week later told now we have to shut down.”

300x250x1

“Once a keg is opened, it has a shelf life.’

Two weeks ago restaurants in the grey zone of Ontario’s COVID-19 lockdown framework were allowed to reopen their patios. The news was highly anticipated by businesses in Toronto and Peel Region that had been shuttered to in-person dining all winter.

But with the announcement of a provincewide shutdown, those same restaurants now have to close their outdoor dining areas.

Under the new regulations that went into effect at midnight, in-person dining—both indoors and outdoors—is prohibited.

“These openings and closings after two weeks, they have an effect on us,” Hunter said, adding that the invoice is a “statement” and doesn’t include the cost of additional food and staff hired.

“We’re more in debt today than we were two weeks ago before we were told we could open the patio.”

Antler Kitchen & Bar

In a letter sent along with the invoice for $431.55, Antler Kitchen & Bar says that the reopening of patios “was a path for our business to survive.”

“You say you care about Toronto’s restaurants,” the letter to Ford says. “And we know you care about beer. So we’re sending an invoice to you for two kegs worth of beer that will spoil because of this shut down. We bought them because you said we could re-open.”

“So now that you’ve closed us down, we know you will be glad to cover the cost and take them off our hands. They might go down well at the next cabinet meeting.”

Hunter said that while he isn’t a medical expert, the service industry, along with other businesses completely shuttered during the shutdown, has been hardest hit during the pandemic.

“It’s literally just been a nightmare.”

A spokesperson for the premier did not comment on the invoice, but said that the government recognizes that the pandemic “has had a devastating impact on all Ontarians.”

“At a time when case counts are increasing unsustainably and intensive care units are immensely strained, risking care, the hard decision to implement the emergency brake provincewide was necessary and the right thing to do. We must continue to respect the advice and recommendations of public health officials and the Chief Medical Officer of Health.”

Indoor dining has been prohibited in all grey zone regions since the inception of the Ontario COVID-19 lockdown framework in early November.

Areas such as Toronto and Peel Region have never left the grey zone, while other Ontario public health units have moved back and forth among the five tiers.

In the red zone, which is just below the grey zone, indoor dining was allowed with a 10-person limit.

At the same time outdoor dining was given the green light in the grey zone, the province made adjustments to the red zone allowing restaurants to operate at either 50 per cent capacity or up to 50 people, whichever one is reached first with a two-metre distance between customers.

The provincewide shutdown that started on April 3 is expected to last at least a month.

Let’s block ads! (Why?)

728x90x4

Source link

Continue Reading

Business

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

Published

 on


[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

728x90x4

Source link

Continue Reading

Business

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

Published

 on


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.

300x250x1

“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.

ADVERTISEMENT

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

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Business

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

Published

 on



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



300x250x1


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. 

More Info

Trending Discussions

Premium Content

  • 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.

oil

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

More Top Reads From Oilprice.com:

Download The Free Oilprice App Today


Back to homepage

<!–

Trending Discussions

–>

Related posts

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Trending