Medical Officer of Health (MOH) for Kingston, Frontenac and Addington (KFL&A) Public Health, Dr. Piotr Oglaza, speaks at a virtual press conference on Wednesday, Dec. 22, 2021. Screenshot by Yona Harvey.
With 154 new COVID-19 cases, 1,557 active, and two new school outbreaks, the Kingston, Frontenac, Lennox and Addington (KFL&A) region still has the highest rate of COVID-19 infections in the country, according to Dr. Piotr Oglaza, Medical Officer of Health (MOH) for KFL&A Public Health.
“Unfortunately, we are still number one on that table,” Oglaza said at a virtual press conference on Wednesday, Dec. 22, 2021. “There is strong evidence that there is spread happening throughout the community. The predominant variant is Omicron.”
Despite high testing rates, the KFL&A region also continues to see a very high positivity rate of around seven per cent. What that indicates is that there is significant community spread, and that there may be a number of cases that have not been reported yet.
Oglaza warned that the incubation period of the new Omicron variant is as early as two days. That means that if someone was exposed to the virus, they start being symptomatic in two days and are already transmitting the virus to others — There might be significant spread already occurring from that one case and their contacts before they get tested, Oglaza explained.
“We might be reaching a point where contact management will have diminishing returns. The message to the public is to stay home when sick. It is now [even] more important with the Omicron variant.”
According to Dr. Oglaza, the rate of infection in KFL&A—as of end of day yesterday—is 500 cases per 100,000 people, with the cases of infection highest in the 18 to 29 age group.
“The incubation period of the new Omicron variant is as early as two days. That means that if someone was exposed to the virus, they start being symptomatic in two days and are already transmitting the virus to others.”
– Dr. Piotr Oglaza, MOH, KFL&A Public Health
“We continue to see the spread among the younger demographic. The reality with the spread among [those aged] 18 to 29 [is that] this is the segment of population who value social interactions. They are less likely to be sick, [and are] likely to engage in social interactions, despite symptoms. We urge those individuals to be really mindful of symptoms and not engage in social interaction while symptomatic. That is the key to slowing this spread,” the MOH explained.
Another way to minimize the impact of the Omicron variant is through booster shots, Oglaza said. KFL&A has so far administered over 56,000 doses for third dose coverage.
“That is a high number considering that third dose roll-out started only recently. On December 20, we administered 9,000 doses throughout the region in one day,” he said,noting that the region has also reached a milestone 90 per cent first dose vaccine coverage for its population who are five years and older.
For those individuals who tried to get the third dose of the vaccine, but were unsuccessful, Oglaza had this to say: “Please, please be patient with us. We will get that third dose to you. We have sufficient doses of Pfizer and Moderna vaccines. Our clinics and other avenues are not impacted by [shortage of supplies]. I’m pleased to see the strong demand for third doses.”
Indoor gatherings pose the highest risk for the spread of the virus. Oglaza acknowledged that many individuals in the community have already altered their holiday plans.
“We know that many individuals are planning a cautious approach. Those who are fully vaccinated—the vaccines (will) prevent severe disease, but we will still see spread happening,” he said.
Dr. Oglaza advised that anyone who feels sick needs to self-isolate, whether or not they are tested, as “they are most infectious when they are symptomatic. For those [who test[ positive, the most at-risk are household contacts.”
Ultimately, according to the MOH, it is up to the public to take the advice of the KFL&A Public Health. He offered “three principles” for all KFL&A residents to follow with Christmas weekend ahead.
“Protect themselves, protect each other, protect the community,” Dr. Oglaza stated. “I trust that we can do that in this community.”
TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.
Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.
Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).
SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.
The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.
WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.
SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.
SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.
SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.
The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.
Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.
“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.
“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”
Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.
On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.
If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.
These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.
If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.
However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.
He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.
“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.
Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.
The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.
Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.
Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.
Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.
Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.
Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”
In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.
“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.
This report by The Canadian Press was first published Nov. 12, 2024.
TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.
The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.
The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.
RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.
The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.
RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.
This report by The Canadian Press was first published Nov. 12, 2024.
