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Trudeau announces vaccine pact as COVID-19 cases hit 150000

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OTTAWA —
Quebeckers were urged to stop socializing, Ontarians were barred from late-night pub-hopping, and the entire country was sternly warned of “critical” containment measures required in coming weeks as soaring COVID-19 case counts edged past 150,000 on Friday.

The escalating pandemic drew repeated pleas for vigilance from Prime Minister Justin Trudeau and Chief Public Health Officer Theresa Tam in a joint press conference that also outlined a deal with AstraZeneca, which would guarantee up to 20 million doses of an experimental vaccine.

With cases surging in Ontario and Quebec hot-spots, Trudeau implored the public to adhere to public health guidelines, stressing that “what we do now, will be critical for the weeks and months to come.”

This was a repeated refrain across the country as political and public health officials took pains to tell the public it was time to scale back parties, dinners out, group activities and other individual actions they said were key factors in an alarming spike in transmission.

In Quebec, Health Minister Christian Dube told residents to a “make a special effort” to limit contact with other people for at least 28 days in order to contain spread and save hospitals from increased burden.

“I insist on this,” said Dube, nevertheless saying he had no problem with people dining in small numbers, within their bubble.

“We’re asking you (for) a month of effort to break the second wave.”

Dube called it a “28-day challenge” to flatten the curve, which on Friday pushed Quebec’s daily tally to 637 new cases, bringing the total number in the province to 70,307.

There have been 5,814 deaths in Quebec.

In Ontario, Premier Doug Ford said bars and restaurants must now close by midnight, with alcohol service to stop at 11 p.m., but that takeout and delivery will be permitted to continue into the wee hours.

All strip clubs will also close, he said, while explaining that the new restrictions strike a balance between public health needs and the province’s financial future.

“I don’t think it’s a huge ask if they can stop serving drinks at 11 o’clock and close their establishments at 12 o’clock,” he said during his daily media briefing.

The measures were not good enough for NDP Leader Andrea Horwath, who criticized the Ford government for failing to provide “a proper, comprehensive and effective second wave strategy.”

Ontario reported 409 new cases of COVID-19 and one new death — about half of the new cases in Toronto and 65 per cent of them in people younger than 40.

The total number of cases in Ontario stood at 48,905, including 2,837 deaths.

Elsewhere, Alberta reported 17,190 confirmed cases, while British Columbia stood at 8,543 confirmed.

COVID-19 cases jumped in Manitoba, too, where masks will be mandatory in Winnipeg’s indoor spaces starting Monday.

Officials also limited indoor and outdoor gatherings to 10 people after 54 new cases emerged in the province — 44 of them in the capital region.

COVID-19 cases reached about 150,140 nationwide, with caseloads spiking dramatically in the four largest provinces over the past few weeks.

In the joint televised press conference with Trudeau, Tam said Canadians still have a chance to keep the epidemic from escalating, “if we all act together now.”

“Local public health authorities cannot do this alone. Each of us must take action to protect ourselves, our loved ones and our communities,” she said.

Despite the sombre warnings, Trudeau offered assurances that Ottawa has taken steps to secure a COVID-19 vaccine as soon as one proves viable.

The latest deal is the sixth such arrangement to ensure Canadians have access to crucial supply.

Trudeau also addressed urgent calls to make more COVID-19 testing options available, stating “there are a number of rapid tests in the process of being evaluated by Health Canada, and they will be made available as quickly as possible.”

Tam added that Health Canada was trying to evaluate a variety of new tools including point-of-care devices and serological tests but suggested that work was hindered by a lack of clinical data from the companies seeking approvals.

“There was really little data submitted to the regulator, and you need basic, minimal clinical information. And so we’re also looking at how do we help in the assessment of those types of tests,” said Tam.

“The whole thing has to work in real life, if you like, but I think we’ll be providing more information to people next week and as things evolve.”

This report by The Canadian Press was first published Sept. 25, 2020.

Source:- CTV News

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Telus prioritizing ‘most important customers,’ avoiding ‘unprofitable’ offers: CFO

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Telus Corp. says it is avoiding offering “unprofitable” discounts as fierce competition in the Canadian telecommunications sector shows no sign of slowing down.

The company said Friday it had fewer net new customers during its third quarter compared with the same time last year, as it copes with increasingly “aggressive marketing and promotional pricing” that is prompting more customers to switch providers.

Telus said it added 347,000 net new customers, down around 14.5 per cent compared with last year. The figure includes 130,000 mobile phone subscribers and 34,000 internet customers, down 30,000 and 3,000, respectively, year-over-year.

The company reported its mobile phone churn rate — a metric measuring subscribers who cancelled their services — was 1.09 per cent in the third quarter, up from 1.03 per cent in the third quarter of 2023. That included a postpaid mobile phone churn rate of 0.90 per cent in its latest quarter.

Telus said its focus is on customer retention through its “industry-leading service and network quality, along with successful promotions and bundled offerings.”

“The customers we have are the most important customers we can get,” said chief financial officer Doug French in an interview.

“We’ve, again, just continued to focus on what matters most to our customers, from a product and customer service perspective, while not loading unprofitable customers.”

Meanwhile, Telus reported its net income attributable to common shares more than doubled during its third quarter.

The telecommunications company said it earned $280 million, up 105.9 per cent from the same three-month period in 2023. Earnings per diluted share for the quarter ended Sept. 30 was 19 cents compared with nine cents a year earlier.

It reported adjusted net income was $413 million, up 10.7 per cent year-over-year from $373 million in the same quarter last year. Operating revenue and other income for the quarter was $5.1 billion, up 1.8 per cent from the previous year.

Mobile phone average revenue per user was $58.85 in the third quarter, a decrease of $2.09 or 3.4 per cent from a year ago. Telus said the drop was attributable to customers signing up for base rate plans with lower prices, along with a decline in overage and roaming revenues.

It said customers are increasingly adopting unlimited data and Canada-U.S. plans which provide higher and more stable ARPU on a monthly basis.

“In a tough operating environment and relative to peers, we view Q3 results that were in line to slightly better than forecast as the best of the bunch,” said RBC analyst Drew McReynolds in a note.

Scotiabank analyst Maher Yaghi added that “the telecom industry in Canada remains very challenging for all players, however, Telus has been able to face these pressures” and still deliver growth.

The Big 3 telecom providers — which also include Rogers Communications Inc. and BCE Inc. — have frequently stressed that the market has grown more competitive in recent years, especially after the closing of Quebecor Inc.’s purchase of Freedom Mobile in April 2023.

Hailed as a fourth national carrier, Quebecor has invested in enhancements to Freedom’s network while offering more affordable plans as part of a set of commitments it was mandated by Ottawa to agree to.

The cost of telephone services in September was down eight per cent compared with a year earlier, according to Statistics Canada’s most recent inflation report last month.

“I think competition has been and continues to be, I’d say, quite intense in Canada, and we’ve obviously had to just manage our business the way we see fit,” said French.

Asked how long that environment could last, he said that’s out of Telus’ hands.

“What I can control, though, is how we go to market and how we lead with our products,” he said.

“I think the conditions within the market will have to adjust accordingly over time. We’ve continued to focus on digitization, continued to bring our cost structure down to compete, irrespective of the price and the current market conditions.”

Still, Canada’s telecom regulator continues to warn providers about customers facing more charges on their cellphone and internet bills.

On Tuesday, CRTC vice-president of consumer, analytics and strategy Scott Hutton called on providers to ensure they clearly inform their customers of charges such as early cancellation fees.

That followed statements from the regulator in recent weeks cautioning against rising international roaming fees and “surprise” price increases being found on their bills.

Hutton said the CRTC plans to launch public consultations in the coming weeks that will focus “on ensuring that information is clear and consistent, making it easier to compare offers and switch services or providers.”

“The CRTC is concerned with recent trends, which suggest that Canadians may not be benefiting from the full protections of our codes,” he said.

“We will continue to monitor developments and will take further action if our codes are not being followed.”

French said any initiative to boost transparency is a step in the right direction.

“I can’t say we are perfect across the board, but what I can say is we are absolutely taking it under consideration and trying to be the best at communicating with our customers,” he said.

“I think everyone looking in the mirror would say there’s room for improvement.”

This report by The Canadian Press was first published Nov. 8, 2024.

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TC Energy cuts cost estimate for Southeast Gateway pipeline project in Mexico

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CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.

It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.

The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.

Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.

TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.

The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:TRP)

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BCE reports Q3 loss on asset impairment charge, cuts revenue guidance

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BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.

The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.

On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.

“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.

“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”

Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.

BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.

The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.

BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.

It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.

The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”

Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:BCE)

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