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Will Ontario pharmacies be ready for COVID-19 testing Friday? We asked each one – CTV Toronto

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TORONTO —
The Ontario government announced this week that 53 pharmacies across the province will be ready for COVID-19 testing starting on Friday.

Ontarians who have no COVID-19 symptoms will be able to get a free COVID-19 test at participating Shoppers Drug Mart, Rexall and independent pharmacy locations. All COVID-19 tests completed in pharmacies are by appointment only.

But will each location be ready to test Friday?

While the majority of pharmacies told CTV News Toronto that testing will be available on Friday, some said they are unable to meet the deadline. Many of the locations accepting people for tests also told CTV News Toronto they are already fully booked. 

Thirty-seven of the 53 pharmacies told CTV News Toronto they are ready for testing on Friday. The rest either said they were not ready, were still unsure or were unreachable. 

Premier Doug Ford said the testing initiative in pharmacies will reduce pressure on the province’s 147 assessment centres, some of which have seen long line-ups in recent weeks.

The government said further locations will be added to the list in the coming weeks.

Here’s what each pharmacy told CTV News Toronto.

Toronto

  • Shoppers Drug Mart, 1601 Bayview Avenue – Yes, will be ready Friday.
  • Shoppers Drug Mart, 1630 Danforth Avenue – Couldn’t confirm if they will be ready until tomorrow.
  • Shoppers Drug Mart, 1027 Yonge Street – Yes, will be ready Friday.
  • Shoppers Drug Mart, 3446 Dundas Street West – Not ready due to a lack of equipment and supplies. No date for testing has been set yet.
  • Shoppers Drug Mart, 1400 Dupont Street – Yes, will be ready Friday.
  • Shoppers Drug Mart, 360A Bloor Street West – Yes, will be ready Friday.
  • Shoppers Drug Mart, 123 Rexdale Boulevard – Yes, will be ready Friday.
  • Shoppers Drug Mart, 900 Albion Road – Yes, will be ready Friday.
  • Shoppers Drug Mart, 4841 Yonge Street – Yes, will be ready Friday.
  • Shoppers Drug Mart, 5095 Yonge Street – Yes, will be ready Friday.
  • Shoppers Drug Mart, 3874 Bathurst Street – Yes, will be ready Friday.
  • Shoppers Drug Mart, 2550 Finch Avenue West – Yes, will be ready Friday.
  • Shoppers Drug Mart, 2751 Eglinton Avenue East – Yes, will be ready Friday.
  • Shoppers Drug Mart, 629 Markham Road – Yes, will be ready Friday.
  • Shoppers Drug Mart, 2301 Kingston Road – Yes, will be ready Friday.
  • Shoppers Drug Mart, Unit A-1780 Markham Road – Yes, will be ready Friday.
  • Medicine Shoppe, 2600 Eglinton Avenue West – Yes, will be ready Friday.
  • Village Square Pharmacy, 2942 Finch Avenue East – Yes, will be ready Friday.
  • Rexall, 4459 Kingston Road – Yes, will be ready Friday.
  • Rexall, 250 Wincott Drive – Phone calls were not answered. It is unclear if this location is ready for testing on Friday.
  • Rexall, 901 Eglinton Avenue West – Yes, will be ready Friday.

Brampton

  • Shoppers Drug Mart, 160 Main Street South – Yes, will be ready Friday.
  • Shoppers Drug Mart, 10665 Bramalea Road – Yes, will be ready Friday.
  • Shoppers Drug Mart, 34A Avondale Boulevard – Yes, will be ready Friday.
  • Shoppers Drug Mart, 366 Main Street North – Yes, will be ready Friday.
  • Shoppers Drug Mart, 10048 McLaughlin Road – A customer service representative at the store was unable to confirm if they will be ready for Friday.
  • Shoppers Drug Mart, 1 Kennedy Road South – Yes, will be ready Friday.
  • Shoppers Drug Mart, 3938 Cottrelle Boulevard – Yes, will be ready Friday.
  • Shoppers Drug Mart, 11965 Hurontario Street – A customer service representative at the store was unable to confirm if they will be ready for Friday.
  • Rexall, Unit A01-545 Steeles Avenue West- Yes, will be ready Friday.

Mississauga

  • Shoppers Drug Mart, 6975 Meadowvale Town Centre Circle- Yes, will be ready Friday.
  • Shoppers Drug Mart, 101-5602 Tenth Line West – Yes, will be ready Friday.
  • Shoppers Drug Mart, 1-5425 Creditview Road – Yes, will be ready Friday.
  • Shoppers Drug Mart, 7070 McLaughlin Road – The store said they should be ready for Friday. They are just waiting for final supplies.
  • Shoppers Drug Mart, 579 Lakeshore Road East – Yes, will be ready Friday.
  • Shoppers Drug Mart, 3980 Grand Park Drive – Yes, will be ready Friday.
  • Shoppers Drug Mart, 2470 Hurontario Street – Yes, will be ready Friday.
  • Shoppers Drug Mart, 700 Burnhamthrope Road East – Phone calls were not answered. It is unclear if this location is ready for testing on Friday. 

Markham

  • Rexall, 90 Copper Creek Drive – Yes, will be ready Friday.

Ottawa

  • Shoppers Drug Mart, 1180 Walkley Road – Location was unable to say if they’ll be ready for testing on Friday.
  • Shoppers Drug Mart, 647 Earl Armstrong Road – Yes, will be ready Friday.
  • Shoppers Drug Mart, 455 Bank Street – Yes, will be ready Friday.
  • Shoppers Drug Mart, 541 Montreal Road – Yes, will be ready Friday.
  • Shoppers Drug Mart, 3940 Innes Road – Phone calls were not answered. It is unclear if this location is ready for testing on Friday.
  • Shoppers Drug Mart, 2954 St. Joseph Boulevard – This location will start accepting appointments on Friday, but will only begin testing on Saturday.
  • Shoppers Drug Mart, 1937 Portobello Boulevard – It is still unclear if they will be ready for Friday.
  • Shoppers Drug Mart, 1-2148 Carling Avenue – Phone calls were not answered. It is unclear if this location is ready for testing on Friday.
  • Shoppers Drug Mart, 1309 Carling Avenue – This location will not be ready for testing until Monday.
  • Shoppers Drug Mart, 1102 Klondike Road – Yes, will be ready Friday.
  • Cedarview Pharmacy, 12-4100 Strandherd Drive – This location is not ready for testing. No date could be provided as to when they will be ready.
  • Medicine Shoppe, 19-5303 Canotek Road – This location will not be ready for testing until Saturday.
  • Rexall, 1615 Orleans Boulevard – Yes, will be ready Friday.

Huntsville

  • Shoppers Drug Mart, 51 King William Street – Testing at this location will not begin until Monday. 

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BABA: 2 Winners and 2 Losers from the Ant Group IPO – StockNews.com

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BABA: 2 Winners and 2 Losers from the Ant Group IPO


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NYSE: BABA | Alibaba Group Holding Ltd News, Ratings, and Charts

BABA – Ant Group is set to be the biggest IPO in history as it looks to raise $35 billion at a $250 billion valuation. Currently, it has 1.3 billion users and generated $10.1 billion in revenue during the first six months of the year. Investors who want to take advantage should consider investing in Alibaba (BABA) as it owns a significant piece of Ant Group.

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Ant Group, previously known as Ant Financial, gained approval from Chinese and Hong Kong regulators as it looks to go public sometime this month. The company is expected to raise $35 billion at a valuation of $250 billion which would make it the largest public offering in history, surpassing the Saudi Aramco IPO. 

In such a short time, Ant Group has become a juggernaut with a dominant position in online banking, digital payments, and e-commerce payment processing, especially in Asia.

This valuation would make Ant Group worth more than nearly every financial or fintech stock currently listed in the United States other than JPMorgan (JPM), Visa (V), or Mastercard (MA). Of course, this is more impressive given that the company is just over a decade old.

Given the recent strength in the IPO market for fast-growing tech stocks and the massive gains in fintech stocks, it wouldn’t be surprising to see its IPO oversubscribed. Already, its parent company, Alibaba (BABA) has said it will be buying 22% of the offering which will increase its stake from 35%.

Since Ant Group is being listed on the Hong Kong and Shanghai exchanges, interested investors can see if their broker offers trading in those markets. Other options are to invest in Alibaba (BABA), who will own a sizable stake in Ant Group, or consider ETFs like the Renaissance International IPO ETF (IPOS), KraneShares China CSI Internet ETF (KWEB), iShares MSCI China ETF (MCHI), and the SPDR S&P China ETF (GXC) which are expected to add shares of Ant Group in the coming months. 

Origin Story

Ant Group actually started as a solution to a problem that Alibaba faced in growing its business to business and business to consumer online marketplaces. Growth was hindered by the lack of financial infrastructure. In the early days of the Internet, there was a lack of trust between parties that payment or shipments would be made. Alibaba had to build this itself to foster the growth of its eCommerce system.

From these humble beginnings, it’s become a financial portal for companies and individual’s financial decisions including investing, wealth management, insurance, lending, etc. The payments product is basically a funnel that brings users into eventually using Ant’s more higher-value, higher-margin products and services. This makes Ant an amalgam of an insurer, broker, bank, and fintech company.

Impressive Growth

It’s been spectacularly successful, with nearly 1.3 billion users. During the coronavirus, user growth and revenue per user has increased.  

Ant Group’s rise has been phenomenal. It’s not inconceivable that over the next decade, it passes BABA in market value given the size of its platform and monetization opportunities. Many believe the platform will grow to over 2 billion users over the next decade.

Another impressive stat about Ant Group is that it handles more payment volume than Visa (V) and Mastercard (MA) combined. Combined, these giants handle $16 trillion, while Ant handled $18 billion in 2019. And, Ant is growing at a much faster rate than these companies.

Financials

Ant Group generated $10.5 billion in revenue in the first half of 2020 which is a nearly 40% increase from the previous year. Most of the revenue came from digital payments, while credit, insurance, and investing accounted for the remainder. It posted a $3.4 billion profit in 2019.

Ant Group benefits from network effects like some of the most successful businesses of this era. It’s more likely that people will join a payments network if people are on it. Once people are on its platform, Ant has numerous opportunities to monetize especially as engagement increases.

While some investors are focused on the IPO, other parts of the market will be affected as well in different ways. On the positive side, Alibaba and MoneyGram International (MGI) are likely to benefit, while Tencent and JD.com (JD) are two who will lose.

Alibaba (BABA)

Alibaba is probably the simplest and straightforward way for US investors to participate in the Ant Group IPO. Not only does it own a sizable chunk, but its eCommerce platform is also synergistically connected to the Ant Group ecosystem. People who use AliPay are more likely to shop on Alibaba’s properties, and vice-versa.

Overall, Alibaba is reasonably priced from a growth perspective as it has a forward price to earnings ratio of 25.8 even though it’s growing sales at a 33% clip with 44% gross margins. This makes it much cheaper than US-based mega-cap tech stocks like Amazon (AMZN), Facebook (FB), or Apple (AAPL).

From a technical perspective, it’s defying the recent dip in the market as it made new highs this past week. The stock looks poised to breakout, and the Ant Group IPO could be a trigger for a more meaningful move higher.

BABA’s POWR Ratings reflect this promising outlook. It has an overall rating of “Strong Buy” with an “A” for Trade Grade, Peer Grade, Buy & Hold Grade, and Industry Rank. Among the 115 stocks in the China industry, it’s ranked #1. 

MoneyGram International (MGI)

MGI is an interesting stock. Currently, it currently has a market capitalization of $315 million. Ant Group tried to buy the company for $1.2 billion in 2018. However, the deal was blocked by US regulators.

Since then, MGI’s stock has dropped by more than 60%. The upcoming election may bring with a change in regulatory attitudes which would mean that a deal could be struck.

MGI’s stock is also interesting as a turnaround play. It’s expected to turn profitable next year and looks to be emerging from a two-year sideways range. It’s also an attractive stock for anyone who is looking for a beaten-down, fintech stock that qualifies as a value play given its price to sales ratio of 0.26.

Tencent

Like Alibaba, Tencent is a tech conglomerate. Its most popular product is WeChat which is the dominant social network and messaging platform in China and many parts of Asia. It also has a fintech product, WePay which has 200 million users. 

Yet, it’s the clear #2 to Ant Group. Ant Group’s IPO will give it more resources to grow. Although Tencent will continue to have opportunities and ways to keep growing, it’s likely to end up in second place. When we look at other Internet sectors, the category leader tends to earn the bulk of the profits.  

Similar to Ant Group, Tencent is not listed in the US. However, there are certain ETFs that hold shares including the ARK Fintech Innovation ETF (ARKF), ARK Next Generation Internet ETF (ARKW), and the Gadsen Dynamic Multi-Asset ETF (GDMA).

JD.com (JD)

JD competes with Alibaba in terms of eCommerce. It has a number of structural disadvantages including the lack of network effects that keep people in the Alibaba ecosystem.

Therefore, it’s going to have a tougher time keeping up with Alibaba. The stock has had a good run, nearly tripling so far YTD. This has also lifted investors’ expectations, however, the company is forecasting only 6% annual earnings growth over the next five years. This means that the company will have to figure out new growth drivers to validate investors’ expectations. 

So, it’s understandable that JD’s task becomes more difficult if AliPay’s IPO gives it more resources to grow which also boosts Alibaba’s ecosystem. JD doesn’t have the same type of network effects that are so beneficial to Alibaba’s business which means its slim chances of exceeding Alibaba are even more diminished following the Ant Group IPO.

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BABA shares rose $0.18 (+0.06%) in after-hours trading Friday. Year-to-date, BABA has gained 46.12%, versus a 8.97% rise in the benchmark S&P 500 index during the same period.

About the Author: Jaimini Desai

Jaimini Desai has been a financial writer and reporter for nearly a decade. His goal is to help readers identify risks and opportunities in the markets. As a reporter, he covered the bond market, earnings, and economic data, publishing multiple times a day to readers all over the world. Learn more about Jaimini’s background, along with links to his most recent articles. More…

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Ant Group is set to be the biggest IPO in history as it looks to raise $35 billion at a $250 billion valuation. Currently, it has 1.3 billion users and generated $10.1 billion in revenue during the first six months of the year. Investors who want to take advantage should consider investing in Alibaba (BABA) as it owns a significant piece of Ant Group.


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Lee Kun-Hee, force behind Samsung's rise, dies at 78 – CP24 Toronto's Breaking News

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Kim Tong-Hyung And Hyung-Jin Kim, The Associated Press


Published Saturday, October 24, 2020 9:45PM EDT


Last Updated Saturday, October 24, 2020 10:31PM EDT

SEOUL, Korea, Republic Of – Lee Kun-Hee, the ailing Samsung Electronics chairman who transformed the small television maker into a global giant of consumer electronics, has died. He was 78.

A Samsung statement said Lee died on Sunday with his family members, including his son and de facto company chief Lee Jae-yong, by his side.

Lee Kun-Hee had been hospitalized since May 2014 after suffering a heart attack and the younger Lee has run Samsung, the biggest company in South Korea.

“All of us at Samsung will cherish his memory and are grateful for the journey we shared with him,” the Samsung statement said. “Our deepest sympathies are with his family, relatives and those nearest. His legacy will be everlasting.”

Lee Kun-hee inherited control from his father and during his nearly 30 years of leadership, Samsung Electronics Co. became a global brand and the world’s largest maker of smartphones, televisions and memory chips. Samsung sells Galaxy phones while also making the screens and microchips that power its rivals, Apple’s iPhones and Google Android phones.

Samsung helped make the nation’s economy, Asia’s fourth-largest. Its businesses encompass shipbuilding, life insurance, construction, hotels, amusement park operation and more. Samsung Electronics alone accounts for 20% of the market capital on South Korea’s main stock market.

Lee leaves behind immense wealth, with Forbes estimating his fortune at $16 billion as of January 2017.

His death comes during a complex time for Samsung.

When he was hospitalized, Samsung’s once-lucrative mobile business faced threats from upstart makers in China and other emerging markets. Pressure was high to innovate its traditionally strong hardware business, to reform a stifling hierarchical culture and to improve its corporate governance and transparency.

Samsung was ensnared in the 2016-17 corruption scandal that led to then-President Park Geun-hye’s impeachment and imprisonment. Its executives, including the younger Lee, were investigated by prosecutors who believed Samsung executives bribed Park to secure the government’s backing for a smooth leadership transition from father to son.

In a previous scandal, Lee Kun-Hee was convicted in 2008 for illegal share dealings, tax evasion and bribery designed to pass his wealth and corporate control to his three children.

The late Lee was a stern, terse leader who focused on big-picture strategies, leaving details and daily management to executives.

His near-absolute authority allowed the company to make bold decisions in the fast-changing technology industry, such as shelling out billions to build new production lines for memory chips and display panels even as the 2008 global financial crisis unfolded. Those risky moves fueled Samsung’s rise.

Lee was born Jan. 9, 1942, in the southeastern city of Daegu during Japan’s colonial rule of the Korean Peninsula. His father Lee Byung-chull had founded an export business there in 1938 and following the 1950-53 Korean War, he rebuilt the company into an electronics and home appliance manufacturer and the country’s first major trading company.

Lee Byung-chull was often called one of the fathers of modern industrial South Korea. Lee Kun-Hee was the third son and his inheritance of his father’s businesses bucked the tradition of family wealth going to the eldest. One of Lee Kun-Hee’s brothers sued for a bigger part of Samsung but lost the case.

When Lee Kun-Hee inherited control from his father in 1987, Samsung was relying on Japanese technology to produce TVs and was making its first steps into exporting microwaves and refrigerators.

The company was expanding its semiconductor factories after entering the business in 1974 by acquiring a near-bankrupt firm.

A decisive moment came in 1993. Lee Kun-Hee made sweeping changes to Samsung after a two-month trip abroad convinced him the company needed to improve the quality of its products.

In a speech to Samsung executives, he famously urged, “Let’s change everything except our wives and children.”

Not all his moves succeeded.

A notable failure was the group’s expansion into the auto industry in the 1990s, in part driven by Lee Kun-Hee’s passion for luxury cars. Samsung later sold near-bankrupt Samsung Motor to Renault. The company also was frequently criticized for disrespecting labour rights. Cancer cases among workers at its semiconductor factories were ignored for years.

In 2020, Lee Jae-yong declared heredity transfers at Samsung would end, promising the management rights he inherited wouldn’t pass to his children. He also said Samsung would stop suppressing employee attempts to organize unions, although labour activists questioned his sincerity.

South Koreans are both proud of Samsung’s global success and concerned the company and Lee family are above the law and influence over almost every corner of society.

Critics particularly note how Lee Kun-Hee’s only son gained immense wealth through unlisted shares of Samsung firms that later went public.

In 2007, a former company lawyer accused Samsung of wrongdoing in a book that became a bestseller in South Korea. Lee Kun-Hee was subsequently indicted on tax evasion and other charges.

Lee resigned as chairman of Samsung Electronics and was convicted and sentenced to a suspended three-year prison term. He received a presidential pardon in 2009 and returned to Samsung’s management in 2010.

This story contains biographical material compiled by former AP business writer YouKyung Lee.

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Eastern Ontario Health Unit imposes new COVID-19 restrictions on restaurants, gyms, fitness centres – CTV News Ottawa

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OTTAWA —
The Eastern Ontario Health Unit is imposing new restrictions on food and drink establishments, sports and recreation facilities and personal care services in Alexandria, Cornwall, Casselman, Clarence-Rockland, Hawkesbury and other areas of eastern Ontario.

The new measures to limit the spread of COVID-19 in the community were announced as Public Health Ontario reported 43 new cases of COVID-19 in the Eastern Ontario Health Unit region on Saturday.

Medical Officer of Health Dr. Paul Roumeliotis issued a new Order under Section 22 of the Health Protection and Promotion Act that will come into effect on Monday, and remain in effect for 28 days.

“The last thing I want is for businesses in our community to have to shut their doors again as they did in the spring,” said Dr. Roumeliotis.

“By putting these new measures in place, I’m hoping we can stop the rising number of infections and prevent another shutdown that would hurt our economy.”

The new COVID-19 measures include limiting the number of people who can be seated at a table in bars and restaurants to a maximum of six people, while the total number of patrons in the indoor and outdoor sections of a food and drink establishment must not exceed 100.

Indoor dining at bars and restaurants in eastern Ontario is still allowed. 

For banquet halls, the total number of patrons permitted in the premises is limited to the number that can maintain a physical distance of at least two meters, and in any event cannot exceed 50 indoors or 100 outdoors.

Establishments must also conduct a COVID-19 screening on every patron and record their name and contact information.

“This really mimics what happened on Oct. 2 when Ottawa, Toronto and Peel were put in these enhanced zones, before they were put into the red hot zone,” said Dr. Roumeliotis during a media conference late Friday.

“I think this is very fair request and saving closures.”

The new measures for indoor sports and recreational facilities include limiting the total number of people permitted in a class, organized program or organized activity to a maximum of 10 people, excluding instructors/trainers/coaches.. The total number of people permitted to be indoors at the facility in areas containing weights or exercise machines cannot exceed 50.

The order applies to gymnasiums, health clubs, community centres, multi-purpose facilities, arenas, exercise studios, yoga studios, dance studios, and other indoor fitness centres.

For personal care settings, including hair salons and barber shops, manicure and pedicure salons, spas and tanning salons, they must conduct a COVID-19 screening for every client and record their name and contact information.

Last Sunday, Dr. Roumeliotis told CTV News Ottawa the region may have to consider moving to a modified Stage 2, like Ottawa, due to rising COVID-19 cases.

On Thursday, the medical officer of health said he was no longer recommending eastern Ontario move into a modified Stage 2, but wanted to impose new restrictions on establishments to help limit the spread of COVID-19.

Ontario introduced new restrictions on bars, restaurants, fitness centres and other recreation complexes in Ottawa on Oct. 2. On Oct. 10, the Ontario Government moved Ottawa into a modified Stage 2, which included prohibiting indoor dining at bars and restaurants, and closed gyms, fitness centres and movie theatres.

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