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‘Final nail in the coffin’ of 2020 cruise ship season in Victoria due to COVID-19 – CHEK

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4 years ago

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Victoria’s cruise ship season has come to an end following an announcement from Ottawa Friday.
“Cruise ships with overnight accommodations and a capacity of more than 100 persons, that includes passengers and crew, will be prohibited from operating in Canadian waters until at least October the 31st,” said federal Minister of Transport Marc Garneau.
Around $130 million dollars is now gone from Victoria’s economy, and around 800 jobs are also lost as a result.
READ MORE: Cruise ships carrying 100 or more passengers banned in Canada until October
Greater Victoria’s Harbour Authority agrees with the decision following concerns about COVID-19, but says the news is still devastating.
They are also asking for assistance to keep Victoria’s tourism industry going.
“It puts the final nail in the coffin for the 2020 cruise season,” said Harbour Authority CEO Ian Robinson.
“It’s very difficult to absorb. We were looking forward to having another record cruise season. There were well over 300 ships calls bringing in over 770,000 passengers. It was going to be another record year. Cruise is extremely important economically.”
The harbour authority relies on the season for 70 per cent of their revenues. They’ve been forced to lay off almost 50 per cent of their staff but say they will be able to make it through the crisis. But residents could be impacted in more ways than just less business.
“We will get through this as an organization, but there could be some impacts to residents around the properties we are responsible for stewarding,” said Robinson.
But their biggest worry is about small and medium businesses
Fisherman’s Wharf is one of the bustling spots when ships visit. Summer is what keeps many of the shops going through the tough winter season.
“It’s a big hit,” said Jackson Avio, owner of Jackson’s Ice Cream.
“Maybe half of our business comes from cruise ships, in our busiest months July and August. I feel bad for the students that I would normally hire. We are just going to do it with a skeleton staff.”
Victoria’s Barb’s Fish & Chips has been a staple for 35 years. They say the ships only make up to around 15 per cent of their business, but with few other ways for visitors to come this summer, they are expecting it to be tough.
“I think survival is the name of the game is 2020. Ultimately recovery will be years,” said owner Ian Poyntz.
Locals will be critical to keeping the shops going.
The harbour authority is calling on both the federal and provincial governments to help keep Victoria’s tourism economy afloat.
“Quite frankly I don’t think its enough I think governments at all levels,” said Robinson.
“We have to focus in on what type of financial support can be available to those small and medium-sized tourism operators so they can get through the fall and winter, so they are here next year for when tourism and cruise returns.”

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Suncor Energy pleads guilty to charges for 2019 injury on oil vessel off Newfoundland

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2 days ago

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September 27, 2024

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ST. JOHN’S, N.L. – Suncor Energy has been fined $90,000 after pleading guilty to two charges stemming from a worker injury in 2019 aboard its production vessel in an oilfield off the coast of Newfoundland.

In a news release Thursday, the province’s offshore oil regular said the company must also give $20,000 to the College of the North Atlantic’s health and safety management program.

The Canada-Newfoundland and Labrador Offshore Petroleum Board says Calgary-based Suncor pleaded guilty on Sept. 5 for failing to ensure the safety of its employees and failing to ensure its employees wore a safety harness attached to a lifeline while inside a confined space.

The board says a worker fell 7.6 metres from a safety ladder while testing for hydrogen sulfide in a ballast tank on the floating production and storage vessel in the Terra Nova offshore oilfield.

An agreed statement of facts says two emergency response workers then went into the tank to tend to the fallen man, and they were not wearing gas masks.

Suncor Energy is the majority owner of the Terra Nova oilfield, and it reported net earnings of $1.57 billion in the second quarter of this year.

This report by The Canadian Press was first published Sept. 17, 2024.

The Canadian Press. All rights reserved.

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TD Bank announces new co-heads of U.S. commercial banking business

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3 days ago

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September 26, 2024

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Toronto-Dominion Bank has named new co-heads of its U.S. commercial banking business.

TD says Andy Bregenzer and Jill Gateman will jointly lead the operations.

The bank says the appointments follow the announcement earlier this year of Chris Giamo’s retirement.

Bregenzer will focus on leading all aspects of the regional commercial bank, including small business.

Gateman will lead TD’s national commercial banking effort in the U.S., including middle market, sponsor-backed finance and TD’s other specialty lending lines of business.

TD, which is working to resolve investigations into failures in its anti-money laundering program in the U.S., announced last week that chief executive Bharat Masrani would retire next year and be replaced by Raymond Chun.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:TD)

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Payments tech company Lightspeed Commerce conducting strategic review of business

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3 days ago

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September 26, 2024

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MONTREAL – Lightspeed Commerce Inc. says it is conducting a review of its business and operations including talks relating to a range of potential strategic alternatives.

The Montreal-based payments technology company made the comments after reports concerning a potential transaction involving the company.

Lightspeed says it periodically undertakes a review of its business and operations with a view of realizing its full potential.

A strategic review is often seen by investors as a prelude to a sale by a company.

Lightspeed says its board of directors is committed to acting in the best interests of the company and its stakeholders.

Company founder Dax Dasilva returned to the role of chief executive officer earlier this year and has been working to return the company to profitability.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:LSPD)

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