Yahoo Finance Editor-in-Chief Andy Serwer sits down with Qualcomm CEO, Steve Mollenkopf.
Yahoo Finance Editor-in-Chief Andy Serwer sits down with Qualcomm CEO, Steve Mollenkopf.
Tom Bradby, a friend of Princes William and Harry, said he has 'felt a little bit caught in the middle' of the two brothers.
Vancouver, British Columbia--(Newsfile Corp. - January 15, 2021) - Neovasc Inc. (NASDAQ: NVCN) (TSX: NVCN) ("Neovasc" or the "Company") announced today that it has received a "not-approvable" letter from U.S. Food & Drug Administration (FDA) regarding its PMA submission for the Neovasc Reducer™ (Reducer).Fred Colen, Neovasc CEO, said, "While we are disappointed in FDA's decision, the letter was not unexpected, given the outcome of the Panel meeting." He continued, "Millions of patients suffer from refractory angina, ...
Cogeco Inc. reported its first-quarter profit rose compared with a year ago as its revenue also climbed, as customers spent more time online during the COVID-19 pandemic. Cogeco said its Canadian broadband revenue grew 2.2 per cent in the three months ending Nov. 30, amid demand for residential high-speed internet for remote work, school and entertainment, as well as price hikes in June in Ontario and December in Quebec. U.S. broadband revenue jumped 9.8 per cent, adjusted for exchange rates, with an additional boost from political advertising during the U.S. presidential election. Radio revenue fell 13 per cent in the quarter compared with the year-ago period, as retailers cut their ad campaigns. The company also said it had a decline in Canadian video service customers, and that it saved money by delaying certain sales and marketing spending. "While the broadband business had strong results, the media business continued to be impacted by the pandemic due to certain segments of the retail industry reducing advertising budgets revenue," chief executive Philippe Jette said on a conference call with analysts. The results come on the heels of the Cogeco board's decision to reject a takeover offer this fall from Altice USA Inc. and Rogers Communications Inc. At the Cogeco Inc. annual general meeting, also held on Friday, Louis Audet said the Cogeco’s current share ownership structure gives the company “stability, a long-term perspective, and stewardship.” Audet’s father founded Cogeco, and the family’s holding company, Gestion Audem, has 69 per cent of Cogeco Inc.'s voting rights. "It's easy to understand why the Audet family does not wish to sell its interest in the Cogeco companies," said Audet at the meeting. "I can assure you that the Audet family intends to maintain its long-term commitment to Cogeco." In all, the Montreal company's profit attributable to owners of the corporation totalled $40.5 million or $2.53 per diluted share, up from $31.3 million or $1.94 per diluted share a year earlier. Revenue was $646.4 million, up from $618.5 million. Cogeco owns radio broadcaster Cogeco Media as well as a controlling interest in Cogeco Communications Inc., a cable company with operations in Canada and the United States. Cogeco Communications reported a profit attributable to owners of the corporation of $106.7 million or $2.22 per diluted share, up from $84.2 million or $1.70 per diluted share a year earlier. Revenue at Cogeco Communications totalled $618.9 million, up from $586.8 million. Cogeco recently closed its deal to buy DERYtelecom, which it says is the third-largest cable provider in the province of Quebec. Cogeco said it gained about 100,000 customers through the deal. Jette said Cogeco is also forging ahead on plans to enter the mobile wireless service market, pending a review of mobile services by the Canadian Radio-television and Telecommunications Commission. Other expansion plans for Cogeco include rural areas of Ontario and Quebec. Jette also said Cogeco's U.S. brand, Atlantic Broadband, is growing in Florida, and is shuffling its pricing packages to focus on Wi-Fi and broadband amid rising costs for video. Chief financial officer Patrice Ouimet told analysts on the call that sales and marketing costs will "ramp up" leading up to this year's back-to-school season, and that "certain cost savings related to the pandemic are expected to decline in the second half of the year." But Jette said that "fiscal year 2021 looks very promising, despite the unfavourable economic impacts related to the pandemic." Shares of Cogeco Inc. rose 5.4 per cent to $83.13 in Toronto, while Cogeco Communications' stock was up nearly six per cent to $101.75. RBC Capital Markets analyst Drew McReynolds said that there is relative value Cogeco Communications' shares after the rejected Rogers takeover, despite uncertainty over the CRTC's wireless reviews. "Cogeco is proving relatively resilient to COVID-19 impacts, reflecting high revenue exposure to what is strong demand for Internet while avoiding the direct COVID-19 impacts on wireless and media revenues (unlike the case for other Canadian operators)," McReynolds wrote in a client note on Friday. This report by The Canadian Press was first published Jan. 15, 2021. Companies in this story: (TSX:CGO, TSX:CCA) — With a file from Jon Victor in Montreal Anita Balakrishnan, The Canadian Press
TORONTO — Canada's main stock market fell Friday to end the week lower on a drop in oil prices and concerns about a temporary reduction in vaccine shipments from Pfizer. The S&P/TSX composite index closed down 49.06 points to 17,909.03, a slight decrease from the prior Friday but up 2.7 per cent so far in January. U.S. stock markets continued the slow decline started Thursday afternoon, ahead of president-elect Joe Biden's speech unveiling his US$1.9-trillion stimulus package. "You would think that it would stimulate the market but it had the opposite impact," said Pierre Cleroux, chief economist for the Business Development Bank of Canada. "The market I guess thought that the amount is too large … and I guess investors are worried that we're going to see tax increases in the future." In New York, the Dow Jones industrial average was down 177.26 points at 30,814.26. The S&P 500 index was down 27.29 points at 3,768.25, while the Nasdaq composite was down 114.14 points at 12,998.50. Cleroux said he's surprised by the market reaction because he believes it's a good package. Even though US$1,400 in additional direct payments to Americans is a lot of money, it will help to stimulate the economy and retail sales that again faltered in December for a third-straight monthly decline. U.S. retail sales fell by a seasonally adjusted 0.7 per cent. The results don't include services such as haircuts and hotel stay, which have been badly hurt by the pandemic. The unexpected decline underscores the economy's troubles as the pandemic has worsened this winter. Employers shed jobs last month for the first time since April. And layoffs appear to be continuing, as the number of people seeking jobless benefits jumped last week to the highest level since August. U.S. earnings season kicked off with results from three big banks. Citigroup, JPMorgan and Wells Fargo beat expectations but some posted weaker revenues or increased credit loss provisions. Energy was the weakest sector on the TSX, losing 3.9 per cent as shares of several Canadian producers fell. MEG Energy Corp. was down 5.3 per cent, Cenovus Energy Inc. five per cent, Crescent Point Energy Corp. 4.9 per cent and Suncor Energy Inc. 4.8 per cent. Crude oil prices dropped on concerns that growing lockdowns will hurt energy demand. The March crude oil contract was down US$1.20 at US$52.42 per barrel and the February natural gas contract was up 7.1 cents at nearly US$2.74 per mmBTU. The materials sector was also lower, losing 2.1 per cent, as metals prices decreased, with First Quantum Minerals Ltd. down 6.9 per cent. The February gold contract was down US$21.50 at US$1,829.90 an ounce and the March copper contract was down 6.25 cents at US$3.60 a pound. Consumer staples were strongest on the day, gaining 2.1 per cent, as shares of Alimentation Couche-Tard Inc. climbed 4.7 per cent after France's finance minister objected to the company's bid for Carrefour, the country's largest private sector employer, over food security concerns. "It's not over yet this story but with the announcement of the French government it's not going very well," said Cleroux. Technology rose slightly as BlackBerry shares gained 8.9 per cent after it resolves patent disputes with Facebook.. Telecommunications were helped by a six per cent gain in shares of Cogeco Communications Inc. after its quarterly report, while Air Canada's 4.1 per cent drop pushed industrials lower. — With files from The Associated Press. This report by The Canadian Press was first published Jan. 15, 2021. Companies in this story: (TSX:BB, TSX:ATD.B, TSX:SU, TSX:MEG, TSX:CVE, TSX:CPG, TSX:FM, TSX:AC, TSX:BB, TSX:CCA, TSX:GSPTSE, TSX:CADUSD=X) Ross Marowits, The Canadian Press
ST. JOHN'S, N.L. — Newfoundland and Labrador will become the fourth province to go to the polls during the COVID-19 pandemic after Premier Andrew Furey called an election for Feb. 13. Furey's request to the province's chief justice Friday to dissolve the legislature follows two days of free-flowing funding announcements from the governing minority Liberals. The Liberal leader is hoping his party will continue the trend established in previous pandemic elections in Saskatchewan, British Columbia and New Brunswick, where the incumbent parties were all re-elected with majorities. It will also be the first provincial campaign for Furey, a surgeon, since he was elected Liberal leader in August, replacing premier Dwight Ball. "This election will be about your choice on leadership," Furey told reporters. "Who you want to lead the province through the pandemic. Who you want to lead it through the economic challenge. Who you want to sit at the table with the federal Liberal government to strike a new deal." He said he chose a Saturday for the vote to give people time to get to the polls and to avoid crowding at polling stations during the pandemic. Furey's biggest competition will come from the Opposition Progressive Conservatives, led by lawyer Ches Crosbie, son of the famously outspoken politician John Crosbie. In an interview Friday, the party's campaign chair, Shawn Skinner, said COVID-19 has made it tough to raise funds. People in the province don't have as much cash as they normally do, and large fundraising events aren't allowed under public health guidelines. "We're probably down 20 to 25 per cent of what we would normally raise," he said. The pandemic also means the party won't have a tour bus heading across the province this time. "You'd be a driving petri dish," Skinner said. Instead, the campaign will rely more on livestreamed events, he added. Candidates will be knocking on doors, but they'll stand back and give people appropriate space when they answer, he said. The provincial NDP, led by economist Alison Coffin, made gains in the last general election in May 2019, winning three seats in the legislature after running just 14 candidates in the province's 40 ridings. Kyle Rees, the NDP's campaign chairman, said the party has been preparing for an election call and expects to have at least 30 candidates across the province's 40 ridings. At dissolution, the Liberals held 19 seats, the Progressive Conservatives held 15, the NDP had three and there were three Independents. The election comes at a time of deep economic trouble for the province, which is suffering from the struggling oil and gas industry. With a population of just over 520,000, Newfoundland and Labrador faces a $1.84-billion deficit and a $16.4-billion net debt. At the heart of the province’s financial worries are the four offshore oil installations, hundreds of kilometres off the coast of St. John's. Crashing global oil prices and the COVID-19 pandemic last spring forced shutdowns and delays resulting in hundreds of layoffs. Thousands more have lost their jobs with the offshoot companies supplying the sector, according to the province’s industry association. The futures of both the Husky-owned White Rose field and the Suncor-owned Terra Nova field remain uncertain, with both companies saying they could decommission their fields and leave if fortunes don’t change. Ottawa stepped in last fall with $320-million in aid for the sector, to be parcelled out by the province, but the money has been controversial. Funding offered to companies so far hasn't come with guarantees of large job numbers or, in the case of Husky, a long-term commitment to see the project through. In September, Furey assembled an economic recovery team, chaired by Moya Greene, a St. John’s-based businesswoman known for privatizing Britain’s Royal mail postal service. Her appointment, coupled with the province’s towering financial challenges, has many worried the team will recommend austerity measures and sweeping privatization. A first draft of the team's proposed plan is due in February, and both of the main opposition parties have said it is irresponsible for Furey to send people to the polls without knowing what they’ll be in for if the Liberals are re-elected. The province also has a rapidly aging population, spread out over a vast geography, and divided into 275 municipalities, most of them with fewer than 1,000 residents. The growing costs of health care loomed large over the provincial coffers even before the pandemic hit. This report by The Canadian Press was first published Jan. 15, 2021. The Canadian Press
Yahoo Finance's Seana Smith joined Yahoo Finance Live to discuss the breaking news that the NRAS has filed for bankruptcy.
"Some good came out of 2020..."
The latest news on COVID-19 developments in Canada (all times Eastern): 5:10 p.m. A person in Yellowknife has tested positive for COVID-19. Chief public health officer Dr. Kami Kandola says the person has not travelled and there is no known source of infection at this time. Currently, there are no other active cases of COVID-19 in Yellowknife. Kandola says the new case was locally acquired but the source is unknown. A rapid response team has been deployed to investigate the source of the new case. --- 3:35 p.m. Newfoundland and Labrador is reporting one new case of COVID-19 today. The new case involves a woman between 20 and 39 years old in the eastern health region. Officials say the woman is a resident of the province who travelled internationally. Newfoundland and Labrador has five active reported cases and one person is in hospital with the disease. --- 2:55 p.m. Health officials in Saskatchewan are announcing another 382 cases of COVID-19. Four more residents who were 60 and older have also died. There are 210 people in hospital, with 35 people in intensive care. To date, 14,017 vaccine doses have gone into the arms of the province's elderly and health-care workers. Saskatchewan's chief medical health officer warned that next week, he will recommend the Saskatchewan Party government tighten up its public-health orders if the province continues to see 300 or more new cases daily. --- 2 p.m. The Manitoba government is seeking public input on a potential easing of COVID-19 restrictions on business openings and public gatherings. Dr. Brent Roussin, the province's chief public health officer, says daily case numbers have been dropping and the strain on hospitals has been easing. The government has put up an online survey that asks people what they would like to see changed, and a final decision is expected late next week. --- 1:35 p.m. Manitoba is reporting 191 new COVID-19 cases today and five additional deaths. The new cases continue to be especially pronounced in the northern health region. --- 1 p.m. Police in Ottawa say they have charged a 62-year-old man from California for violating the quarantine rules meant to reduce the spread of COVID-19. In a statement, they say the man arrived in Canada Jan. 6 and was required to stay isolated until Jan. 19, but was visited "on several occasions and for extended periods of time" by an Ottawa resident. They don't name the man or say what his relationship is to his visitor, but say he came from California, a state struggling more than most with the novel coronavirus. The section of the Quarantine Act that forbids visits to people in quarantine carries a potential maximum punishment of six months in jail and a $750,000 fine. The police statement says the visitor was let off with a warning. --- 12:42 New Brunswick is reporting 25 new cases of COVID-19 today across almost all of its health zones. Health officials say the new cases are under investigation and the Miramichi area is the only region without active reported infections. The province says it has 256 active cases and four people are in hospital with the disease. New Brunswick remains at the second-highest pandemic alert level. --- 11:55 Prime Minister Justin Trudeau says a temporary delay in deliveries of the Pfizer-BioNTech vaccine will not derail efforts to vaccinate Canadians by September. Trudeau says Pfizer's production issues will not affect plans to have enough vaccines available for every Canadian who wants one by the fall. He says "it's only expected that there will be a few bumps along the way." Pfizer Canada says modifications at its Belgium facility will affect deliveries for all countries it supplies. --- 10:57 Nova Scotia is reporting two new cases of COVID-19 today. Officials say one case was identified in the northern zone and one in the central zone, which includes Halifax. They say both cases involve close contacts of previously reported infections. Nova Scotia has 32 active reported cases of the disease. --- 10:30 a.m. Ontario is reporting 100 deaths linked to COVID-19 today after a data entry error in one of its public health units. Forty-six deaths from Middlesex-London were added to the province's daily count that actually happened earlier in the pandemic. The province is also reporting 2,998 new cases of COVID-19. Health Minister Christine Elliott says 800 of those new cases are in Toronto, 618 in Peel Region and 250 in York Region. --- 9:56 a.m. Chief Public Health Officer Dr. Theresa Tam says Canada is on track to hit 10,000 new daily infections of COVID-19 by the end of January. New modelling shows the total number of cases could reach 796,630 by Jan. 24 and another 2,000 people could die. Tam says there is rapid and widespread community spread of COVID-19, and governments and individuals need to do everything they can to reduce contacts. She says measures to reduce contacts must be kept in place long enough to prevent an immediate resurgence of infections as soon as the lockdown measures are lifted. --- 9:40 a.m. U.S. drug-maker Pfizer is temporarily cutting back vaccine deliveries to Canada because of issues with its European production lines. Procurement Minister Anita Anand says Pfizer thinks it will still be able to deliver four million doses by the end of March, but it's no longer guaranteed. Canada has received about 380,000 doses of the vaccine so far, and was supposed to get another 400,000 this month, followed by almost two million doses in February. There is no update yet on what the new deliveries will be. --- This report by The Canadian Press was first published Jan. 15, 2021. The Canadian Press
SASKATOON — Officials say dozens of people who received medical attention after deadly levels of carbon monoxide were found inside a Saskatoon apartment building are no longer in hospital. Fire Chief Morgan Hackl said an emergency doctor first sounded the alarm about possible carbon monoxide exposure after treating a patient. Crews arrived at the apartment complex about 6 p.m. Thursday and helped evacuate 50 people, including children. "What occurred was very commendable of the (emergency) doctor's recognition of what this could possibly be," Hackl said Friday. Crews detected more than 400 parts per million of carbon monoxide in the building's boiler room, he said, adding people exposed to levels that high can die within two to three hours of exposure. High levels of the gas were also found in other parts of the building. Ambulances took 29 people to hospital and all were in stable condition, said Troy Davies with Medavie Health Services. Hackl said his information showed 27 residents were taken to hospital, and that 20 others later sought medical attention. The Saskatchewan Health Authority said a mass casualty alert was issued and additional staff members, including doctors, were brought in. Patients ended up in emergency departments at two different hospitals and were treated for potential carbon monoxide poisoning. All patients have since left the hospitals, Lisa Collard, director of emergency services for the city, said in a statement. The health authority added that the Salvation Army is providing residents of the apartment building with emergency shelter. The fire department said a gas inspector found a venting problem in the boiler room and the building was likely to remain closed Friday. It also said the property didn't have sensors to detect carbon monoxide. This report by The Canadian Press was first published Jan. 15, 2021. The Canadian Press
NEW YORK — The New York Mets agreed to one-year contracts with first baseman-outfielder Dominic Smith, outfielder Brandon Nimmo and pitchers Edwin Díaz, Seth Lugo and Robert Gsellman on Friday to avoid salary arbitration. Smith will make $2.55 million in his first year of arbitration eligibility, while Nimmo gets $4.7 million and Díaz $7 million in their second eligible years. Lugo agreed to $2,925,000, and Gsellman will make $1.3 million. The 25-year-old Smith enjoyed a huge breakout during the pandemic-shortened season, forcing his way into the everyday lineup and hitting .316 with 10 home runs, 21 doubles, 42 RBIs and a .993 OPS in 50 games. He earned $214,380 prorated from his $578,826 salary. Smith’s natural position is first base, creating a bit of a potential logjam with Mets slugger Pete Alonso. If the National League adopts the designated hitter again, problem solved. If not, Smith could see plenty of playing time in left field, where his shortcomings and inexperience are evident. Even team president Sandy Alderson acknowledged that wouldn’t be ideal. Nimmo batted .280 with a .404 on-base percentage and .888 OPS in 55 games last season. He had eight home runs and 18 RBIs. He has a sharp eye at the plate, often hitting in the leadoff spot, and is pegged as New York’s regular centre fielder unless the team acquires a new one and shifts Nimmo to left. The hustling and smiling Nimmo, who turns 28 in March, made $805,556 in prorated pay last year from a $2,175,000 salary. The hard-throwing Díaz was so awful in 2019 during his first season with the Mets that he lost his job as closer and got booed repeatedly at Citi Field. He got off to a rough start again last year but rediscovered the nasty fastball-slider combination that helped him lead the majors with 57 saves as a 2018 All-Star for Seattle. The right-hander finished 2-1 with a 1.75 ERA and six saves in 26 appearances. He struck out a whopping 50 batters against 14 walks in 25 2/3 innings, reclaiming his ninth-inning role. Perhaps most important, he gave up only two home runs after serving up 15 in 58 innings the year before. Díaz, who turns 27 in March, made $1,888,889 in prorated pay last season from his $5.1 million salary. Lugo wound up back in an injury-depleted rotation last season because the Mets needed help there. The versatile right-hander prefers to start but has been more effective as a reliever the last few years. He went 3-4 with a 5.15 ERA and three saves in 16 games, including seven starts. The 31-year-old Lugo, a 34th-round draft pick out of Centenary College in Louisiana, earned a prorated $740,741 from his $2 million salary last season. Until the Mets finish assembling their pitching staff, it’s uncertain whether Lugo will be in the bullpen or rotation to begin the season. Last year was a wreck for Gsellman, sidelined by a triceps injury and then a broken rib. His season started late and ended early, without much success in between as the Mets moved the former starter from the bullpen into a ravaged rotation with no time to build up first and get stretched out. The 27-year-old right-hander had a 9.64 ERA in just 14 innings, making four starts and two relief appearances. Gsellman earned $453,704 prorated from his $1,225,000 salary. He gives New York a potential long man with the ability to pitch multiple innings or generate a groundball when needed. Four Mets remained eligible to exchange proposed arbitration salaries with the team Friday, including new shortstop Francisco Lindor. Others eligible were outfielder Michael Conforto, right-hander Miguel Castro and third baseman-outfielder J.D. Davis. ___ More AP MLB: https://apnews.com/MLB and https://twitter.com/AP_Sports The Associated Press
The National Rifle Association announced that it intends to restructure as a nonprofit based in Texas and has filed for Chapter 11 bankruptcy protections. The NRA added that it has been incorporated in New York for approximately 150 years. "This strategic plan represents a pathway to opportunity, growth and progress," NRA CEO Wayne LaPierre said in a statement.
Gareth Southgate revealed his delight at another ex-England player becoming a manager.
The Atlanta Falcons have agreed to terms with Tennessee Titans offensive coordinator Arthur Smith to become the team's head coach. The Falcons announced the agreement on Friday. Smith held a virtual interview with the team on Monday and he also interviewed with the New York Jets and Detroit Lions.
The earthquake struck the island of Sulawesi on Friday, injuring hundreds and destroying a hospital.
Trading volume in U.S. equity options hit a new record on Friday, according to data from options analytics provider Trade Alert. More than 49.5 million contracts traded during the session, Trade Alert said. Friday marked the expiration of monthly options contracts, which often results in heavier-than-usual volume.
"I think he is heartbroken by the situation with his family," journalist Tom Bradby says of Prince Harry
Sir Iain Duncan Smith and Joanna Lumley speak out about employees allegedly owed a total of £200,000.
Players are flown in ahead of the Australian Open while thousands of citizens are waiting to return.
Security has been ramped up substantially in response to the attack on Congress. Will it be enough?
ST. JOHN'S, N.L. — A look at Alison Coffin, leader of the Newfoundland and Labrador New Democratic Party. Age: 50 Early years: Born in Corner Brook, she grew up in Joe Batt's Arm. Her father was a school principal and her mother was a nurse. She has competed in hockey, ball hockey, football, triathlons, bodybuilding and softball. Education: Graduated from Memorial University with an economics degree in 1993 and later completed her master's degree at York University in Toronto, graduating in 1997. Before politics: Small business and government consultant. Taught economics at Memorial University. Political record: Failed to win a provincial seat in the 2015 election and lost NDP leadership race to Gerry Rogers in 2018. Acclaimed leader in March 2019 after Rogers stepped down. Elected as the member for St. John’s East-Quidi Vidi in May 2019. Family: Coffin and her partner Ian Coombs have a son, David. Quote: "We're putting money into an industry that I don't think is sustainable at all. We're hearing time and time again that the oil industry is in decline." — Coffin commenting on the $41.5 million in federal funds handed to Husky Energy on Dec. 3, 2020. This report by The Canadian Press was first published Jan. 15, 2021. The Canadian Press