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  • Pierre Fournier

Prof. Fournier Press Review: Aug 30 – Sept 3

Agenda: Jobs available in Canada, Moderna & Pfizer, Air Canada, Hydro-Québec, Whistler, Afghanistan, Saputo, BRP, Market Review.

Photo: Dave Sidaway/Montreal Gazette

Several jobs available across the country. According to Journal de Montréal, there is an overwhelming number of jobs available in Canada. This information was provided in the most recent report provided by Statistics Canada. Statistics Canada has published monthly information since October 2020 regarding available job positions in the country, and according to this information, more than 815,000 jobs are available to the Canadian population. Specifically, among these available spots, it is the service sector, notably restaurants, that offers the most employment opportunities.

Moderna and Pfizer vaccines against the Delta variant. The effectiveness of Pfizer and Moderna's vaccines against COVID-19 infection has declined from 91% to 66% as the Delta variant becomes increasingly dangerous and dominant, rushing its presence in the United States, according to data released by U.S. health officials. The data comes from a study of thousands of healthcare center and hospital workers in six states to examine the vaccines’ performance. Almost all of the vaccinated health workers have received the vaccines from Pfizer or Moderna. Read more on Yahoo News.

Air Canada and vaccination for employees. Air Canada will make the two-shot COVID-19 vaccination mandatory for its employees starting October 30, 2021, reports Journal de Québec. This will also become a condition of employment. All of its employees will also be required to report their immunization status. This new Air Canada policy aims to ensure, according to the airline, the health and safety of its staff and customers. This measure extends to all employees of Air Canada, Air Canada Rouge and Air Canada Vacations.

Excellent results for the first half of the year for Hydro-Québec. With a 24% increase in profit for the first six months of the year, Hydro-Quebec has almost returned to the profitability it had achieved before the pandemic. According to Yahoo Finance, the crown corporation's profit reached $ 1.993 billion, an increase of $ 388 million, compared to $1.605 billion in the same period last year. Hydro-Quebec attributes this increase to an increase in electricity sales in the province and an increase in its exportations.

Significant staffing issues for Whistler businesses. Lack of staff is preventing several businesses in Whistler, British Columbia, from operating at their 100%, reports Radio-Canada. This is a very important concern for companies on the eve of the opening of ski slopes around the end of November. Other issues that companies face are the delay in issuing visas for foreign workers as well as a housing shortage.

Americans leave Afghanistan. The longest war in US history is officially over. The Pentagon said the last American soldiers have left Afghanistan, leaving the country in the hands of the Taliban, reports CNN. The last C-17 military transport plane took off from Kabul airport on August 30 at 11:59 p.m. local time, confirmed Gen. Kenneth McKenzie, head of the US Army's central command.

Saputo buys in North Carolina. Quebec-based Saputo, one of the top 10 dairy processors, has purchased Carolina Aseptic and Carolina Dairy, two companies based in North Carolina, United States. This nearly CAN $149 million acquisition will allow Saputo to strengthen its main commercial activities south of the Canada-US border. More specifically, these two acquisitions will help Saputo better position itself to meet the growing demand for protein drinks and nutritional snacks. Find out more from Yahoo Finance.

Very good quarterly results for BRP. Quebec-based recreational vehicle manufacturer Bombardier Recreational Products (BRP) reported a significant increase in revenues for the quarter ended July 31, compared to the corresponding period in fiscal year 2020, reports La Presse. The quarterly revenues of the manufacturer based in Valcourt, Estrie, jumped from $1.233 billion to $1.904 billion. The company says market share gains as well as the company's ability to weather a difficult supply chain environment are factors that have contributed to this quarter’s strong financial results.

MARKET REVIEW. According to CNBC, the New York Stock Exchange finished in dispersed order on Friday. The day got off to a negative start in the markets following negative economic data regarding US job creation in August. The job creation numbers were well below analysts' expectations. The Toronto Stock Exchange closed a new all-time high on Friday as weak US employment data helped ease investor nervousness over the possibility of the US Federal Reserve easing its stimulus measures.


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