LIVE: G7 criticises India’s decision to stop wheat exports, reports AFP quoting German agriculture minister

LIVE: G7 criticises India’s decision to stop wheat exports, reports AFP quoting German agriculture minister
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  • Breaking news updates May 14, 2022: Get latest news, breaking news, latest updates, live news, top headlines, breaking business news and top news of the hour.

Get latest news, breaking news, latest updates, live news, top headlines, breaking business news and top news of the hour.
Get latest news, breaking news, latest updates, live news, top headlines, breaking business news and top news of the hour.

Updated on May 14, 2022 07:31 PM IST

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  • May 14, 2022 06:35 PM IST

    G7 criticises India’s decision to stop wheat exports

    G7 on Saturday criticised India’s decision to impose wheat export ban, reports news agency AFP quoting German agriculture minister. Read more.

  • May 14, 2022 06:15 PM IST

    Manik Saha to become the new Tripura CM

    Rajya Sabha MP Manik Saha will become the new chief minister of Tripura. He will replace Biplab Kumar Deb. Read more.

  • May 14, 2022 06:12 PM IST

    Delhi’s Safdarjung records hottest day of the year so far with 44.2 degrees Celsius temperature

    Delhi’s Safdarjung observatory, national capital’s base weather station, records a maximum temperature of 44.2 degrees Celsius on Saturday (May 14). This is the hottest day of the year so far. Previously, hottest days of 2022 were on April 28, 29 and 30 when the mercury reached 43.5 degrees Celsius.

  • May 14, 2022 05:24 PM IST

    Fire breaks out in J&K forest, fire tenders unable to reach spot for area being hilly and lacking road connectivity

    A fire broke out in Jammu and Kashmir’s Kashanari forest today in Udhampur district, news agency ANI reported. The fire spread up to many canals of area, and the cause of it is yet to be ascertained. “Fire tenders unable to reach spot because area is hilly and there is no road connectivity. Efforts on to douse it,” DFO Ramnagar Kuldeep Kumar was quoted as saying.

  • May 14, 2022 04:16 PM IST

    Tripura chief minister Biplab Deb resigns

    Tripura chief minister and BJP leader Biplab Deb has resigned from his post. The legislative party meeting will pick new leader at 5pm today. Read more.

  • May 14, 2022 03:55 PM IST

    Delhi LG says ‘immediate steps’ should be taken to avoid another incident like Mundka fire

    On the deadly fire in west Delhi’s Mundka in which at least 27 people have lost their lives, and 12 sustained injuries, LG Anil Baijal said that “immediate steps” should be taken to ensure that such an incident does not happen again. Read more.

  • May 14, 2022 03:26 PM IST

    Seven deceased persons positively identified in Delhi’s Mundka fire

    Seven persons of the 27 deceased have been positively identified in Delhi’s Mundka fire tragedy.

  • May 14, 2022 02:40 PM IST

    Sheikh Mohamed bin Zayed elected UAE president

    Sheikh Mohamed bin Zayed has been elected the new president of the United Arab Emirates (UAE), news agency AFP reported on Saturday citing state media.

  • May 14, 2022 01:51 PM IST

    India to provide 65,000 metric tonnes of urea to Sri Lanka

    India has assured Sri Lanka to immediately supply 65,000 metric tonnes of urea.

  • May 14, 2022 01:12 PM IST

    China withdraws as 2023 football Asian Cup host due to pandemic

    China withdraws as 2023 football Asian Cup host due to pandemic, AFP reports.

  • May 14, 2022 12:55 PM IST

    VIP jail rooms to be converted into jail management blocks: Bhagwant Mann

    All VIP rooms in jails will be converted into jail management blocks to ensure smooth functioning of jail staff, says Punjab chief minister Bhagwant Mann.

  • May 14, 2022 12:22 PM IST

    Sunil Jhakar announces quitting Congress party

    Former PPCC chief Sunil Jakhar goes live on Facebook, announces that he is parting ways with the Congress.

  • May 14, 2022 11:35 AM IST

    Delhi CM orders probe in Mundka fire tragedy

    Delhi CM orders probe in Mundka fire tragedy, says, ‘Those found responsible won’t be spared’.

  • May 14, 2022 11:34 AM IST

    Arvind Kejriwal reaches Mundka fire site

    Dehi Mundka fire: Chief Minister Arvind Kejriwal at site of incident after building blaze kills 27.

  • May 14, 2022 10:54 AM IST

    Gyanvapi Masjid survey in UP begins after court order amid tight security

    Two days after a court in Uttar Pradesh’s Varanasi ordered for the survey at Gyanvapi mosque to continue amid objections over videography inside the complex, tight security was seen as officials began the court-mandated task. Read more

  • May 14, 2022 10:04 AM IST

    Extend GST compensation period must be extended by another 3 yrs: P Chidambaram

    GST compensation period must be extended by another 3 yrs, says ex-Finance minister P Chidambaram.

  • May 14, 2022 09:51 AM IST

    3 police personnel killed in Guna, MP

    Three policemen killed in firing by miscreants in Guna distict of Madhya Pradesh early on Saturday.

  • May 14, 2022 09:00 AM IST

    India prohibits wheat exports with immediate effect to control rising prices

    India prohibits wheat exports with immediate effect to control rising domestic prices, reports PTI, citing offiical notification

  • May 14, 2022 08:35 AM IST

    India’s daily Covid tally sees minor surge with 2,858 infections

    India’s daily Covid tally sees minor surge with 2,858 infections; active cases at 18,096; 11 deaths in 24 hours.

  • May 14, 2022 08:23 AM IST

    Delhi Mundka fire: 2 arrested 

    Delhi Mundka fire update: 2 arrested; they’re owners of firm where blaze broke out, say cops.

  • May 14, 2022 07:55 AM IST

    Ram Nath Kovind, wife depart for Jamaica & Saint Vincent, Grenadines

    President Ram Nath Kovind along with his wife Savita Kovind depart for Jamaica & Saint Vincent and the Grenadines. The president is on a visit to these two countries from 15-21 May.

  • May 14, 2022 07:01 AM IST

    Parag Agrawal tweets after Elon Musk bombshell

    Hours after Elon Musk put the $44 billion Twitter takeover deal on hold on Friday, Parag Agrawal – the CEO of the social media giant – put out a rare series of posts. Read more

  • May 14, 2022 06:14 AM IST

    UN Security Council condemns killing of Al Jazeera journalist

    UN Security Council condemns killing of Al Jazeera journalist, reports AFP.

  • May 14, 2022 05:46 AM IST

    New Zealand prime minister Jacinda Ardern tests positive for Covid-19

    New Zealand Prime Minister Jacinda Ardern tested positive for COVID-19 with moderate symptoms.

  • May 14, 2022 05:35 AM IST

    North Korea confirms 21 new deaths due to ‘fever’

    North Korea says 21 people died and 174,440 people were newly found with ‘fever symptoms’ on Friday alone.

TMC begins campaign to pitch Mamata Banerjee as PM ahead of 2024 Lok Sabha polls

For a long time, Banerjee has advocated for a third front led by regional satraps to take on the BJP in the 2024 general elections. The TMC, which is on a mission to expand its footprint beyond West Bengal, has already made its intentions clear that it will take on the BJP on the national stage in 2024.

The Trinamool Congress has launched a campaign to project party chief Mamata Banerjee as the next Prime Minister of India before Lok Sabha polls 2024. (PTI PHOTO.)

The Trinamool Congress has launched a campaign to project party chief Mamata Banerjee as the next Prime Minister of India before Lok Sabha polls 2024. (PTI PHOTO.)

Published on May 14, 2022 07:31 PM IST

Congress may push for private sector reservation, quota in Women’s Bill

The political push for reservation in the private sector has already led to major debates and during the ten years of the Congress-led UPA government, no such effort to implement quota in private sector jobs was mooted.

Congress leader Rahul Gandhi speaks during a meeting on the second day of the party’s Nav Sankalp Chintan Shivir, as Congress interim president Sonia Gandhi looks on, in Udaipur on Saturday. (ANI PHOTO.)

Congress leader Rahul Gandhi speaks during a meeting on the second day of the party’s Nav Sankalp Chintan Shivir, as Congress interim president Sonia Gandhi looks on, in Udaipur on Saturday. (ANI PHOTO.)

Updated on May 14, 2022 07:18 PM IST

TMC mocks Biplab Deb after he quits as Tripura CM, says ‘change is inevitable’

The TMC marked its presence in the civic polls held in the state last year. According to the Election Commission, it was the runner-up in the Agartala municipality. However, it ended up at the third spot in terms of overall vote share in the state.

Former Tripura chief minister Biplab Deb.(PTI)

Former Tripura chief minister Biplab Deb.(PTI)

Updated on May 14, 2022 07:25 PM IST

Congress demands extension of GST compensation, reset of economic policies

Thirty one years after he accompanied Dr. Manmohan Singh, then finance minister, in ushering liberalisation through economic reforms, P Chidambaram pitched for another “reset” in economic policies.

Congress interim president Sonia Gandhi, party leader Rahul Gandhi and others during a meeting on Day 2 of the party's ‘Nav Sankalp Shivir’, in Udaipur on Saturday. (PTI PHOTO.)

Congress interim president Sonia Gandhi, party leader Rahul Gandhi and others during a meeting on Day 2 of the party’s ‘Nav Sankalp Shivir’, in Udaipur on Saturday. (PTI PHOTO.)

Published on May 14, 2022 05:50 PM IST

Delhi’s Mundka fire: Single entry-exit, DNA testing for remains | What we know

  • In videos that circulated on social media, people could be heard crying for help. Officers present at the site said that because of the smoke, many working in the building jumped from the windows in a desperate bid to escape the flames.

The Mundka fire is one of the worst fire incidents that Delhi has seen since the 2019 Anaj Mandi tragedy that claimed 43 lives.(Raj K Raj/Hindustan Times)

The Mundka fire is one of the worst fire incidents that Delhi has seen since the 2019 Anaj Mandi tragedy that claimed 43 lives.(Raj K Raj/Hindustan Times)

Published on May 14, 2022 05:49 PM IST

Written by Sharangee Dutta | Edited by Chandrashekar Srinivasan, New Delhi

Halt construction work around Jagannath temple: INTACH writes to Odisha CM

The Indian National Trust for Art and Cultural Heritage hassought Odisha chief minister Naveen Patnaik’s intervention to halt the construction work around the 12th century Jagannath temple in Puri till the case is disposed of in Orissa high court. Patnaik is among the founder members of INTACH.

INTACH told Odisha chief minister Naveen Patnaik that ASI has not given permission to construction work within the prohibited area of 100 metres around Jagannath temple. (File Photo)

INTACH told Odisha chief minister Naveen Patnaik that ASI has not given permission to construction work within the prohibited area of 100 metres around Jagannath temple. (File Photo)

Published on May 14, 2022 05:00 PM IST

Tripura CM Biplab Kumar Deb quits a year ahead of assembly polls

Deb assumed the chief minister’s post in 2018 after the BJP formed the government in alliance with the Indigenous People’s Front of Tripura (IPFT) in the state for the first time, ending the nearly 25-year-long rule of the Left Front.

Tripura chief minister Biplab Kumar Deb on Saturday resigned from his post with barely eight months left for the 2023 assembly polls. (HT PHOTO.)

Tripura chief minister Biplab Kumar Deb on Saturday resigned from his post with barely eight months left for the 2023 assembly polls. (HT PHOTO.)

Updated on May 14, 2022 05:07 PM IST

‘Not feeling safe’, say Kashmiri Pandits protesting Rahul Bhat’s killing

The Kashmiri Pandit protesters braved the heat as they held banners which read ‘We want justice’ over the killing of Rahul Bhat, who was gunned down by terrorists inside the Chadoora tehsil office in Budgam on May 10.

Members of the Kashmiri Pandit community stage protest in Srinagar over the killing of government employee Rahul Bhat, who was shot dead by terrorists in Budgam on May 10.(PTI)

Members of the Kashmiri Pandit community stage protest in Srinagar over the killing of government employee Rahul Bhat, who was shot dead by terrorists in Budgam on May 10.(PTI)

Published on May 14, 2022 04:11 PM IST

Bank A/Cs, fake IDs: CBI probes 11 crore IPL betting racket with Pak links

The central probe agency said a part of the money received from the public in India for betting was also being shared by their associates based in foreign countries using hawala transactions.

The accused, the CBI said, were in touch with one Pak national named Waqas Malik, whose number has already been obtained during initial investigation.(HT_PRINT)

The accused, the CBI said, were in touch with one Pak national named Waqas Malik, whose number has already been obtained during initial investigation.(HT_PRINT)

Updated on May 14, 2022 05:57 PM IST

‘Need immediate steps to…’: Delhi LG on Mundka fire tragedy

  • Delhi Fire Services chief Atul Garg said the building where the fire broke out did not have an NOC, and that the owner, who has been identified as Manish Lakra, is on the run.

Anil Baijal, lieutenant governor of Delhi, took to Twitter on Saturday, May 14, 2022, to say that he is “deeply pained” by the tragic fire incident in Mundka wherein “many precious lives were lost”.(Sanchit Khanna/HT PHOTO)

Anil Baijal, lieutenant governor of Delhi, took to Twitter on Saturday, May 14, 2022, to say that he is “deeply pained” by the tragic fire incident in Mundka wherein “many precious lives were lost”.(Sanchit Khanna/HT PHOTO)

Updated on May 14, 2022 03:49 PM IST

Written by Sharangee Dutta | Edited by Chandrashekar Srinivasan, New Delhi

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AMD Reports First Quarter 2022 Financial Results

AMD Reports First Quarter 2022 Financial Results

― Record quarterly revenue of $5.9 billion grew 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year; Gross margin grew 2 percentage points and non-GAAP gross margin grew 7 percentage points year-over-year

SANTA CLARA, Calif., May 03, 2022 (GLOBE NEWSWIRE) — AMD (NASDAQ:AMD) today announced revenue for the first quarter of 2022 of $5.9 billion, gross margin of 48{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, operating income of $951 million, operating margin of 16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, net income of $786 million and diluted earnings per share of $0.56. On a non-GAAP(*) basis, gross margin was 53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, operating income was $1.8 billion, net income was $1.6 billion and diluted earnings per share was $1.13. First quarter 2022 results include partial quarter financial results from the recently completed acquisition of Xilinx which closed February 14, 2022.

Excluding Xilinx, AMD had record quarterly revenue of $5.3 billion, non-GAAP gross margin of 51{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and non-GAAP operating margin of 30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}.
“The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx,” said AMD Chair and CEO Dr. Lisa Su. “Each of our businesses grew by a significant double digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter. Demand remains strong for our leadership products, with our increased full-year guidance reflecting higher AMD organic growth and the addition of the growing Xilinx business.”

GAAP Quarterly Financial Results

Q1 2022

Q1 2021

Y/Y

Q4 2021

Q/Q

Revenue ($M)

$5,887

$3,445

Up 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$4,826

Up 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross profit ($M)

$2,818

$1,587

Up 78{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$2,426

Up 16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

48{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 190 bps

50{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Down 240 bps

Operating expenses ($M)

$1,950

$929

Up 110{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,223

Up 59{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating income ($M)

$951

$662

Up 44{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,207

Down 21{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

19{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Down 3pp

25{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Down 9pp

Net income ($M)

$786

$555

Up 42{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$974

Down 19{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Earnings per share

$0.56

$0.45

Up 24{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$0.80

Down 30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Non-GAAP(*) Quarterly Financial Results

Q1 2022

Q1 2021

Y/Y

Q4 2021

Q/Q

Revenue ($M)

$5,887

$3,445

Up 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$4,826

Up 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross profit ($M)

$3,100

$1,588

Up 95{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$2,427

Up 28{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 660 bps

50{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 240 bps

Operating expenses ($M)

$1,346

$830

Up 62{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,103

Up 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating income ($M)

$1,837

$762

Up 141{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,328

Up 38{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

31{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 9pp

27{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 4pp

Net income ($M)

$1,589

$642

Up 148{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,122

Up 42{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Earnings per share

$1.13

$0.52

Up 117{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$0.92

Up 23{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Non-GAAP(*) Quarterly Financial Results (Excluding Xilinx)

Q1 2022

Q1 2021

Y/Y

Q4 2021

Q/Q

Revenue ($M)

$5,328

$3,445

Up 55{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$4,826

Up 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross profit ($M)

$2,712

$1,588

Up 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$2,427

Up 12{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

51{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 480 bps

50{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 60 bps

Operating income ($M)

$1,604

$762

Up 110{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,328

Up 21{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 8pp

27{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 3pp

Q1 2022 Results

  • Revenue of $5.9 billion was up 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year and 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} quarter-over-quarter driven by higher revenue in the Computing and Graphics and Enterprise, Embedded and Semi-Custom segments and the inclusion of Xilinx revenue.

  • Gross margin was 48{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, an increase of 2 percentage points year-over-year and a decrease of 2 percentage points quarter-over-quarter. The year-over-year increase was primarily driven by higher server processor revenue and high margin Xilinx revenue, partially offset by amortization of intangible assets and acquisition-related costs. The quarter-over-quarter decrease was primarily due to amortization of intangible assets and acquisition-related costs.

  • Non-GAAP gross margin was 53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, an increase of 7 percentage points year-over-year and 3 percentage points quarter-over-quarter. The year-over-year increase was primarily driven by higher server processor revenue and high margin Xilinx revenue. The quarter-over-quarter increase was primarily driven by high margin Xilinx revenue, higher server processor revenue and richer client product mix.

  • Operating income was $951 million compared to $662 million a year ago and $1.2 billion in the prior quarter. The year-over-year increase was primarily driven by higher revenue and gross profit, partially offset by amortization of intangible assets and acquisition-related costs. The quarter-over-quarter decrease was primarily due to amortization of intangible assets and acquisition-related costs.

  • Record non-GAAP operating income was $1.8 billion compared to $762 million a year ago and $1.3 billion in the prior quarter. The year-over-year and quarter-over-quarter increases were primarily driven by higher gross profit.

  • Net income was $786 million compared to $555 million a year ago and $974 million in the prior quarter. The year-over-year increase was primarily driven by higher operating income. The quarter-over-quarter decrease was primarily due to lower operating income related to amortization of intangible assets and acquisition-related costs.

  • Record non-GAAP net income was $1.6 billion compared to $642 million a year ago and $1.1 billion in the prior quarter. The year-over-year and quarter-over-quarter increases were primarily driven by higher operating income.

  • Diluted earnings per share was $0.56 compared to $0.45 a year ago and $0.80 in the prior quarter. Record non-GAAP diluted earnings per share was $1.13 compared to $0.52 a year ago and $0.92 in the prior quarter.

  • Cash, cash equivalents and short-term investments were $6.5 billion at the end of the quarter. The company repurchased $1.9 billion of common stock during the quarter.

  • Record cash from operations was $995 million in the quarter compared to $898 million a year ago and $822 million in the prior quarter. Record free cash flow was $924 million in the quarter compared to $832 million a year ago and $736 million in the prior quarter.

  • AMD’s balance sheet reflects $49.6 billion of goodwill and acquisition-related intangible assets associated with the acquisition of Xilinx.

Quarterly Financial Segment Summary

  • Record Computing and Graphics segment revenue was $2.8 billion, up 33{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year and 8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} quarter-over-quarter. The year-over-year increase was driven by Ryzen™ and Radeon™ processor sales. The quarter-over-quarter increase was driven by Ryzen™ processor sales.

    • Client processor average selling price (ASP) increased year-over-year and quarter-over-quarter driven by a richer mix of Ryzen processor sales.

    • GPU ASP increased year-over-year driven by high end Radeon processor sales and decreased quarter-over-quarter due to a lower mix of data center GPU revenue.

    • Record operating income was $723 million compared to $485 million a year ago and $566 million in the prior quarter. Operating income improvements were primarily driven by higher revenue, partially offset by higher operating expenses.

  • Record Enterprise, Embedded and Semi-Custom segment revenue was $2.5 billion, up 88{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year and 13{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} quarter-over-quarter driven by higher EPYC™ processor revenue, semi-custom and embedded product sales.

  • Xilinx partial quarter revenue was $559 million with operating income of $233 million. On a pro-forma basis for the full quarter, Xilinx generated over $1 billion of revenue, up 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year, driven by growth across all Xilinx major end market categories.

  • All Other operating loss was $886 million as compared to operating losses of $100 million a year ago and $121 million in the prior quarter. Higher operating loss was primarily due to amortization of intangible assets and acquisition-related costs.

Recent PR Highlights

  • AMD completed the largest acquisition in the history of the semiconductor industry by acquiring Xilinx to create the industry’s high-performance and adaptive computing leader with significantly expanded scale and the strongest portfolio of leadership computing, graphics and adaptive SoC products.

  • AMD announced a definitive agreement to acquire Pensando for approximately $1.9 billion before working capital and other adjustments. Pensando’s distributed services platform will expand AMD’s data center product portfolio with a high-performance data center processing unit (DPU) and software stack that are already deployed at scale across cloud and enterprise customers including Goldman Sachs, IBM Cloud, Microsoft Azure and Oracle Cloud.

  • AMD announced the general availability of 3rd Gen AMD EPYC processors with AMD 3D V-Cache™ technology, delivering leadership performance in technical computing workloads, the industry’s largest L3 cache and modern security features.

  • Cloud customers continued to expand their AMD EPYC processor-powered offerings, with 465 cloud instances now delivering powerful performance for today’s most important workloads.

  • AMD expanded its lineup of high-performance AMD Ryzen desktop processors for gamers and creators.

    • AMD announced the Ryzen 7 5800X3D processor, the first Ryzen processor to feature AMD 3D V-Cache technology and the industry’s first x86 PC processor with 3D stacked chiplets. The Ryzen 7 5800X3D processor delivers leadership gaming performance in select titles compared to the competitive processor without stacked cache technology.

    • Lenovo expanded its line of ThinkStation P620 workstations with the new Ryzen Threadripper™ PRO 5000 WX-Series processors, which bring dominant, full-spectrum performance leadership for the most demanding professional workloads.

    • AMD also expanded the Ryzen desktop processor portfolio with six new “Zen 3” and “Zen 2” processors, giving PC enthusiasts even more options to create a customized gaming experience.

  • AMD expanded the Versal product lineup with first customer shipments of the flagship Versal HBM adaptive SoC with integrated HBM2e memory and Versal Premium product series with AI Engines optimized for signal processing-intensive applications like next-generation radar and wireless system and device testing.

  • AMD announced that its board of directors approved a new $8 billion share repurchase program. This program is in addition to the $4 billion share repurchase program announced last year.

  • AMD entered into a $3 billion sustainability-linked credit facility to replace its existing $500 million revolving credit facility and reinforces commitment to the company’s environmental, social and governance (ESG) goals.

  • AMD announced that its board of directors elected President and CEO Dr. Lisa Su as the chair of the board and John E. Caldwell as lead independent director. Former Xilinx board members Jon Olson and Elizabeth Vanderslice also joined the AMD board in conjunction with the acquisition of Xilinx.

Current Outlook
AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
For the second quarter of 2022, AMD expects revenue to be approximately $6.5 billion, plus or minus $200 million, an increase of approximately 69{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year and approximately 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} quarter-over-quarter. The year-over-year increase is expected to be driven by the addition of Xilinx and higher server, semi-custom and client revenue. The quarter-over-quarter increase is expected to be primarily driven by Xilinx and higher server revenue. AMD expects non-GAAP gross margin to be approximately 54{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in the second quarter of 2022.

For the full year 2022, AMD now expects revenue to be approximately $26.3 billion, an increase of approximately 60{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} over 2021, up from prior guidance of approximately 31{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, driven by the addition of Xilinx and higher server and semi-custom revenue. AMD expects non-GAAP gross margin to be approximately 54{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} for 2022, up from prior guidance of approximately 51{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}.

AMD Teleconference
AMD will hold a conference call for the financial community at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its first quarter 2022 financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(in millions, except per share data) (Unaudited)

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

GAAP gross profit

$

2,818

$

2,426

$

1,587

GAAP gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

48

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

50

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Stock-based compensation

4

1

1

Acquisition-related costs (1)

92

Amortization of acquired intangible assets

186

Non-GAAP gross profit

$

3,100

$

2,427

$

1,588

Non-GAAP gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

53

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

50

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

GAAP operating expenses

$

1,950

$

1,223

$

929

GAAP operating expenses/revenue {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

33

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

25

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

27

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Stock-based compensation

170

111

84

Acquisition-related costs (1)

141

9

15

Amortization of acquired intangible assets

293

Non-GAAP operating expenses

$

1,346

$

1,103

$

830

Non-GAAP operating expenses/revenue {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

23

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

23

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

24

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

GAAP operating income

$

951

$

1,207

$

662

GAAP operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

16

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

25

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

19

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Stock-based compensation

174

112

85

Acquisition-related costs (1)

233

9

15

Amortization of acquired intangible assets

479

Non-GAAP operating income

$

1,837

$

1,328

$

762

Non-GAAP operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

31

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

27

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

22

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

GAAP net income / earnings per share

$

786

$

0.56

$

974

$

0.80

$

555

$

0.45

Loss on debt redemption/conversion

6

0.01

(Gains) losses on equity investments, net

44

0.03

(4

)

8

0.01

Stock-based compensation

174

0.12

112

0.09

85

0.07

Equity income in investee

(3

)

(2

)

Acquisition-related costs (1)

233

0.17

9

15

0.01

Amortization of acquired intangible assets

479

0.34

Income tax provision

(124

)

(0.09

)

31

0.03

(25

)

(0.03

)

Non-GAAP net income / earnings per share

$

1,589

$

1.13

$

1,122

$

0.92

$

642

$

0.52

(1

)

Acquisition-related costs primarily comprised of transaction costs, purchase price adjustments for inventory and certain compensation charges

RECONCILIATION OF AMD GAAP TO AMD NON-GAAP EXCLUDING XILINX
(in millions) (Unaudited)

Three Months Ended March 26, 2022

Revenue

Gross
Profit

Gross
Margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating
Income

Operating
Margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

AMD GAAP

$

5,887

$

2,818

48{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$

951

16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Stock-based compensation

4

174

Acquisition-related costs (1)

92

233

Amortization of acquired intangible assets

186

479

AMD Non-GAAP

5,887

3,100

53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

1,837

31{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Xilinx segment

559

388

233

AMD Non-GAAP Excluding Xilinx

$

5,328

$

2,712

51{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$

1,604

30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

(1

)

Acquisition-related costs primarily comprised of transaction costs, purchase price adjustments for inventory and certain compensation charges

RECONCILIATION OF XILINX SEGMENT REVENUE TO XILINX PRO FORMA REVENUE
(in millions) (Unaudited)

Three Months Ended
March 26, 2022

Revenue

Xilinx Segment (1)

$

559

Xilinx Pre-Acquisition (2)

477

Xilinx Pro Forma (3)

$

1,036

(1

)

Represents unaudited Xilinx revenue from the date of acquisition, February 14, 2022, through March 26, 2022

(2

)

Represents unaudited Xilinx revenue from January 2, 2022 to February 13, 2022

(3

)

The unaudited Xilinx pro forma revenue represents the three-month period beginning January 2, 2022 through March 26, 2022. The pro forma revenue is presented for informational purposes only.

About AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, Facebook and Twitter pages.

Cautionary Statement
This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as AMD’s expectations regarding demand for its products, AMD organic growth and Xilinx business growth; the features, functionality, performance, availability, timing and expected benefits of AMD products; AMD’s planned acquisition of Pensando Systems Inc. and the anticipated benefits from the acquisition; AMD’s expected second quarter 2022 and fiscal 2022 financial outlook, including revenue and non-GAAP gross margin and expected drivers based on current expectations; and expected growth in 2022, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as “would,” “may,” “expects,” “believes,” “plans,” “intends,” “projects” and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; global economic uncertainty; loss of a significant customer; impact of the COVID-19 pandemic on AMD’s business, financial condition and results of operations; competitive markets in which AMD’s products are sold; market conditions of the industries in which AMD products are sold; cyclical nature of the semiconductor industry; quarterly and seasonal sales patterns; AMD’s ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD’s products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD’s ability to introduce products on a timely basis with expected features and performance levels; AMD’s ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyber-attacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products in a timely manner; AMD’s reliance on third-party companies for design, manufacture and supply of motherboards, software and other computer platform components; AMD’s reliance on Microsoft and other software vendors’ support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD’s supply chain; AMD’s ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of government actions and regulations such as export administration regulations, tariffs and trade protection measures; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals-related provisions and other laws or regulations; impact of acquisitions, joint ventures and/or investments on AMD’s business, and ability of AMD to integrate acquired businesses, such as Xilinx; impact of any impairment of the combined company’s assets on the combined company’s financial position and results of operation; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit facility; AMD’s indebtedness; AMD’s ability to generate sufficient cash to meet its working capital requirements or generate sufficient revenue and operating cash flow to make all of its planned R&D or strategic investments; political, legal, economic risks and natural disasters; future impairments of goodwill and technology license purchases; AMD’s ability to attract and retain qualified personnel; AMD’s stock price volatility; and worldwide political conditions. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.

(*)

In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2022, AMD uses a projected non-GAAP tax rate of 13{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, which excludes the tax impact of pre-tax non-GAAP adjustments, reflecting currently available information. AMD also provided adjusted EBITDA and free cash flow as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. In addition, AMD provided non-GAAP financial measures excluding Xilinx, including revenue, gross profit and operating income, and Xilinx pro forma revenue for the three months ended March 26, 2022 as supplemental information. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables at the end of this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD’s financial outlook, which is based on current expectations as of May 3, 2022 and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law.

AMD, the AMD Arrow logo, EPYC, Radeon, Ryzen, Threadripper, Versal and combinations thereof, are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and used to identify companies and products and may be trademarks of their respective owner.

ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages) (Unaudited)

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

Net revenue

$

5,887

$

4,826

$

3,445

Cost of sales

2,883

2,400

1,858

Amortization of acquisition-related intangibles

186

Total cost of sales

3,069

2,400

1,858

Gross profit

2,818

2,426

1,587

Gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

48

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

50

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Research and development

1,060

811

610

Marketing, general and administrative

597

412

319

Amortization of acquisition-related intangibles

293

Licensing gain

(83

)

(4

)

(4

)

Operating income

951

1,207

662

Interest expense

(13

)

(8

)

(9

)

Other income (expense), net

(42

)

4

(11

)

Income before income taxes and equity income

896

1,203

642

Income tax provision

113

229

89

Equity income in investee

3

2

Net income

$

786

$

974

$

555

Earnings per share

Basic

$

0.56

$

0.81

$

0.46

Diluted

$

0.56

$

0.80

$

0.45

Shares used in per share calculation

Basic

1,393

1,208

1,213

Diluted

1,410

1,222

1,231


ADVANCED MICRO DEVICES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS
(Millions)

March 26,
2022

December 25,
2021

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$

4,740

$

2,535

Short-term investments

1,792

1,073

Accounts receivable, net

3,677

2,706

Inventories

2,431

1,955

Receivables from related parties

4

2

Prepaid expenses and other current assets

725

312

Total current assets

13,369

8,583

Property and equipment, net

1,406

702

Operating lease right-of use assets

416

367

Goodwill

23,083

289

Acquisition-related intangibles, net

26,832

Investment: equity method

72

69

Deferred tax assets

32

931

Other non-current assets

1,705

1,478

Total Assets

$

66,915

$

12,419

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$

1,476

$

1,321

Payables to related parties

205

85

Accrued liabilities

3,070

2,424

Short-term debt

312

312

Other current liabilities

518

98

Total current liabilities

5,581

4,240

Long-term debt, net

1,475

1

Long-term operating lease liabilities

370

348

Deferred tax liabilities

3,109

Other long-term liabilities

1,047

333

Stockholders’ equity:

Capital stock:

Common stock, par value

16

12

Additional paid-in capital

56,925

11,069

Treasury stock, at cost

(941

)

(2,130

)

Accumulated deficit (1)

(665

)

(1,451

)

Accumulated other comprehensive income

(2

)

(3

)

Total stockholders’ equity

$

55,333

$

7,497

Total Liabilities and Stockholders’ Equity

$

66,915

$

12,419

(1)

During the first quarter of 2021, the Company adopted ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, using the modified retrospective adoption method, which resulted in $8 million of deferred tax liability associated with book-tax differences in a foreign equity method investment recognized in Accumulated deficit.

ADVANCED MICRO DEVICES, INC.
SELECTED CASH FLOW INFORMATION
(Millions) (Unaudited)

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

Net cash provided by (used in)

Operating activities

$

995

$

822

$

898

Investing activities

$

3,158

$

$

(722

)

Financing activities

$

(1,948

)

$

(727

)

$

(8

)


SELECTED CORPORATE DATA
(Millions) (Unaudited)

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

Segment and Category Information (1)

Computing and Graphics

Net revenue

$

2,802

$

2,584

$

2,100

Operating income

$

723

$

566

$

485

Enterprise, Embedded and Semi-Custom

Net revenue

$

2,526

$

2,242

$

1,345

Operating income

$

881

$

762

$

277

Xilinx

Net revenue

$

559

$

$

Operating income

$

233

$

$

All Other

Net revenue

$

$

$

Operating loss

$

(886

)

$

(121

)

$

(100

)

Total

Net revenue

$

5,887

$

4,826

$

3,445

Operating income

$

951

$

1,207

$

662

Other Data

Capital expenditures

$

71

$

86

$

66

Adjusted EBITDA (2)

$

1,967

$

1,446

$

857

Cash, cash equivalents and short-term investments

$

6,532

$

3,608

$

3,116

Free cash flow (3)

$

924

$

736

$

832

Total assets

$

66,915

$

12,419

$

10,047

Total debt

$

1,787

$

313

$

313

(1)

The Computing and Graphics segment primarily includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs and development services.

The Enterprise, Embedded and Semi-Custom segment primarily includes server and embedded processors, semi-custom System-on-Chip (SoC) products, development services and technology for game consoles.

The Xilinx segment primarily includes Field Programmable Gate Arrays (FPGAs), adaptive System-on-Chips (SoCs), and Adaptive Compute Acceleration Platform (ACAP) products.

From time to time, the Company may also sell or license portions of its IP portfolio.

All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments. Also included in this category are acquisition-related intangible asset amortization expense, stock-based compensation expense and acquisition-related costs.

(2)

Reconciliation of GAAP Net Income to Adjusted EBITDA

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

GAAP net income

$

786

$

974

$

555

Interest expense

13

8

9

Other (income) expense, net

42

(4

)

11

Income tax provision

113

229

89

Equity income in investee

(3

)

(2

)

Stock-based compensation

174

112

85

Depreciation and amortization

130

118

95

Amortization of acquired intangible assets

479

Acquisition-related costs

233

9

15

Adjusted EBITDA

$

1,967

$

1,446

$

857

The Company presents “Adjusted EBITDA” as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other income (expense), net, income tax provision, equity income in investee, stock-based compensation, depreciation and amortization expense and acquisition-related costs. The Company also included amortization of acquired intangible assets for the three months ended March 26, 2022. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company’s calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows. The Company has provided reconciliations within the earnings press release of these Non-GAAP financial measures to the most directly comparable GAAP financial measures.

(3)

Reconciliation of GAAP Net Cash Provided by Operating Activities to Free Cash Flow

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

GAAP net cash provided by operating activities

$

995

$

822

$

898

Operating cash flow margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

17

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

17

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

26

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Purchases of property and equipment

(71

)

(86

)

(66

)

Free cash flow

$

924

$

736

$

832

Free cash flow margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

16

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

15

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

24

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities for capital expenditures. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company’s calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities. The Company has provided reconciliations within the earnings press release of these Non-GAAP financial measures to the most directly comparable GAAP financial measures.

 

Media Contact:
Drew Prairie
AMD Communications
512-602-4425
drew.prairie@amd.com

Investor Contact:
Laura Graves
AMD Investor Relations
408-749-5467
laura.graves@amd.com

Amazon stock plunges as company reports nearly $4 billion loss

Amazon stock plunges as company reports nearly $4 billion loss

The tech big on Thursday stated it experienced a net decline of $3.8 billion in the quarter ended March 31, a sharp fall in profits from the exact same interval final calendar year, when it manufactured an $8.1 billion profit. It was also a huge pass up from the $4.4 billion revenue that analysts surveyed by Refinitiv had forecast.

Amazon (AMZN) shares sank around 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in soon after-hours trading subsequent the final results.

“The pandemic and subsequent war in Ukraine have brought abnormal advancement and challenges,” Amazon CEO Andy Jassy said in a statement.

Amazon’s general profits grew 7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} from the identical interval final 12 months to $116.4 billion, a little beating analyst forecasts but slower than the 9{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} advancement in the closing months of very last yr. The corporation forecast that earnings growth would slow even more future quarter, anticipating a expansion rate of in between 3{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and 7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}.

Jassy referenced Amazon’s breakneck growth in its purchaser small business for the duration of the pandemic, and the “doubling” of the firm’s success community in the past two many years.

“Nowadays, as we’re no longer chasing bodily or staffing capacity, our groups are squarely concentrated on strengthening efficiency and price tag efficiencies throughout our fulfillment network,” he added. “This may possibly get some time, particularly as we operate via ongoing inflationary and offer chain pressures, but we see encouraging development on a number of shopper expertise dimensions.”

The firm also announced that Prime Day, its once-a-year sales bonanza, will consider position this July in extra than 20 countries.

In an earnings connect with, Amazon’s main financial officer, Brian Olsavsky, stated higher inflation, gas selling prices and labor constraints additional $2 billion to prices in comparison to previous year.

“The cost to ship an overseas container has additional than doubled compared to pre-pandemic fees,” he said. “The cost of gasoline is about just one and a half instances increased than it was even a 12 months in the past.”

The increase of the Omicron variant toward the close of 2021 led to “a sizeable improve” in workers heading on go away, prompting Amazon to boost using the services of to make up for the absences, Olsavsky mentioned. But as staff returned when the variants subsided, “we promptly transitioned from staying understaffed to remaining overstaffed,” he included. That resulted in “lower efficiency” incorporating one more $2 billion in expenses, he explained.

Amazon’s earnings hit arrives as the corporation proceeds to deal with force from its warehouse employees over concerns these as spend and performing ailments. Workers at a Staten Island, New York, warehouse voted to variety the e-commerce giant’s to start with-ever US labor union earlier this month. Amazon has given that submitted an attractiveness, calling for a do-in excess of of the total vote.

A different Amazon union election in Bessemer, Alabama, also concluded not long ago with the results much too close to connect with.

Equally union initiatives grew from worker frustrations with Amazon’s procedure of personnel amid the pandemic and were also inspired in portion by amplified countrywide consideration to racial justice troubles and labor rights.

Amazon subsequently declared it would conduct a racial equity audit led by previous US Legal professional Standard Loretta Lynch.

Shanghai Reports First COVID-19 Deaths Of Latest Outbreak : NPR

Shanghai Reports First COVID-19 Deaths Of Latest Outbreak : NPR

In this photograph introduced by China’s Xinhua Information Agency, a clinical worker disinfects yet another right after getting samples for COVID-19 exams in a household spot in Shanghai, China, Saturday, April 16.

Jin Liwang/AP


conceal caption

toggle caption

Jin Liwang/AP


In this photograph unveiled by China’s Xinhua Information Agency, a health-related employee disinfects an additional soon after taking samples for COVID-19 tests in a household space in Shanghai, China, Saturday, April 16.

Jin Liwang/AP

BEIJING (AP) — Shanghai authorities on Monday reported the first COVID-19 deaths of the hottest outbreak in China’s most populous and wealthiest metropolis.

All three who died were aged, experienced underlying conditions these types of as diabetes and hypertension and experienced not been vaccinated versus the coronavirus, city Wellbeing Fee inspector Wu Ganyu told journalists.

“Just after moving into clinic, their problems grew worse and they died soon after makes an attempt to help you save them ended up unsuccessful,” Wu reported.

The deaths raise to 4,641 the range of people today China suggests have succumbed to the disease considering that the virus was very first detected in the central city of Wuhan in late 2019.

Most of Shanghai’s 25 million people are becoming confined to their properties for a third 7 days as China continues to make use of a “zero-tolerance” tactic to curb the outbreak, demanding isolation of any person quite possibly contaminated.

China on Monday mentioned 23,362 persons had tested beneficial for the virus above the former 24 hours, most of them showing no signs and symptoms and nearly all of them in Shanghai.

The town has reported extra than 300,000 cases since late March. Shanghai began easing limitations previous 7 days, although officials have warned the town would not have its outbreak below management.

Shanghai, which is home to China’s largest port and most vital inventory trade, appeared unprepared for such a large enterprise.

Citizens ran limited of foods and everyday necessities while enduring lockdown ailments, and tens of hundreds of folks put beneath healthcare observation have been sequestered in crowded facilities wherever lights are generally on, garbage bins overflow, meals is inadequate and warm showers nonexistent.

Any person who exams positive but has handful of or no signs is necessary to invest just one 7 days in a quarantine facility.

Concerns have risen about the economic impression of the government’s hardline policy.

China’s economic expansion edged up to a even now-weak 4.8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} about a year before in the 1st a few months of 2022 as lockdowns cut output in key industrial towns. Formal facts showed growth accelerated from the earlier quarter’s 4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}.

While the ruling Communist Celebration has urged additional targeted avoidance steps, local officers have routinely adopted stringent polices, possibly for worry of staying fired or penalized above outbreaks in their areas.

In the metropolis of Wenzhou, which has viewed only a handful of conditions, authorities have licensed rewards of up to 50,000 yuan ($7,800) for details about people today who falsify their overall health standing, on-line information web-site The Paper noted.

Today’s coronavirus news: Ontario reports 639 people hospitalized with COVID-19, 179 in ICU; Spain to enter new era without isolation for mild COVID

Today’s coronavirus news: Ontario reports 639 people hospitalized with COVID-19, 179 in ICU; Spain to enter new era without isolation for mild COVID

The latest coronavirus news from Canada and around the world Tuesday. This file will be updated throughout the day. Web links to longer stories if available.

8:00 p.m.: With Ontario partway through its first week without mask mandates and a lack of widespread provincial testing, you may be wondering about the COVID-19 spread in your community.

In the absence of any official public database of COVID signals in the GTA’s sewage, the Toronto Star brings you its own COVID wastewater signal map to give you a sense as to whether cases are increasing, decreasing or remaining stable in your area.

The Star’s signal map uses data sourced from each GTA public health unit into one location, showing trends in sewersheds or wastewater catchment areas for each treatment plant across the region.

Read the full interactive story here: Is COVID surging or declining in the GTA? Use our map to see wastewater trends for your area

7:30 p.m.: The Health Ministry says there have been no more deaths related to COVID-19 in British Columbia.

B.C. reported 254 hospitalizations on Tuesday, a slight drop from Monday when there were 271 people in hospital.

It says 48 people were in intensive care.

No new outbreaks have been declared in health-care facilities since Monday, and three others have ended.

That leaves five facilities with ongoing outbreaks across the health-care system.

The government says 91 per cent of eligible people aged 12 and up have had their second dose of a vaccine and 57.1 per cent of those have had a third dose.

5:00 p.m.: As several countries report an uptick in COVID-19 cases partly blamed on a more contagious version of the Omicron variant, the question becomes whether Canada’s next wave will be a surge or a ripple.

The confluence of easing COVID-19 protocols and the rise of BA.2, a sublineage of the Omicron variant, is complicating the epidemiological forecast for spring, experts say.

While most agree that Canada’s immunization rates should blunt the impacts of the so-called “stealth” subvariant, some worry that decreased public health vigilance could clear a path for BA.2 to drive up infections and hospitalizations.

Canada’s chief public health officer suggested last week that the country should be shielded from the worst of the COVID-19 resurgence that’s roiling regions abroad, instead predicting a spring “blip” as public health measures are lifted.

While evidence suggests that BA.2 is more transmissible than its Omicron predecessor, the subvariant is spreading at a relatively slow rate in Canada, said Dr. Theresa Tam.

It doesn’t appear to to cause more severe illness than other variants, she said, but international data suggests BA.2 targets people who aren’t protected by vaccination or previous exposure to the Omicron variant.

That means Canada’s high immunization uptake — with 81 per cent of the population considered fully vaccinated — should keep hospitalizations at manageable levels even if cases rise, said Tam.

But Dr. Lynora Saxinger, an infectious disease specialist at the University of Alberta, warned that the risks of BA.2 could be unevenly distributed across Canada.

Omicron reinfection appears to be rare, Saxinger said, so regions that were hit hard by the BA.1 surge may fare better than those where the variant hasn’t been circulating.

“I think it will be very variable between even cities, communities and provinces, and overall across the country,” she said. “In places where they haven’t had a lot of infection recently, I think there is a bit more risk that this highly transmissible variant could make a bigger wave.”

Another factor to consider is uptake of third vaccine doses, which do a lot “heavy lifting” in protecting against severe outcomes from Omicron infection, said Saxinger. Federal numbers suggest that roughly 46 per cent of the population has received a booster shot.

What’s less clear to Saxinger is whether reimposing COVID-19 rules would do much to curb BA.2’s spread, noting that the subvariant has gained steam in places with strict public health measures.

“I think there’s a wide playing field in between giving up, which I don’t think is the right answer, and doing some sort of draconian lockdown on an early signal.”

Caroline Colijn, a mathematician and epidemiologist at Simon Fraser University, isn’t convinced that BA.2 will register as just a “blip” in Canada’s COVID-19 trajectory.

The Canada 150 Research Chair in Mathematics for Evolution, Infection and Public Health said her modelling suggests that Canada is well positioned to weather an uptick in transmission driven by either BA.2 or relaxing COVID-19 restrictions independently, but the combination of the two could cause problems.

“We can be very resilient to a rise in transmission, and BA.2 will give us a rise in transmission. But reducing our measures and removing our protections will also give us another rise in transmission at the same time,” Colijn said.

“I think we are resilient to some increase in transmission. But I think we will probably see a surge from these two increases in transmission arriving at the same time.”

Of particular concern to Colijn is how BA.2 could affect those who are most vulnerable to severe COVID-19 outcomes, such as people who are older or immunocompromised.

These groups were prioritized for early boosters in many parts of the country, Colijn noted, and so the immunity provided by these doses are more likely to have waned in the months since.

As many provinces have restricted access to testing, Colijn said, we may not have the data we need to measure to increased COVID-19 transmission before hospitalizations tick up, at which point, it’ll be too late to contain the situation.

“I think we should be going into this with our eyes open and watching carefully,” she said.

2:45 p.m. Spanish health authorities are moving closer to normalizing life in coexistence with COVID-19, by scrapping mandatory quarantines — from next week — for those infected with the virus but showing no or mild symptoms of the disease.

Under current regulations, seven days of isolation are mandatory for anybody who tests positive for the coronavirus.

Starting March 28, free COVID-19 tests will only be conducted on high-risk groups, at health facilities and nursing homes, and on patients with the worse conditions, Spain’s Health Ministry said Tuesday.

It said the decision was taken by the country’s Commission on Public Health.

Amid high levels of vaccination, the rate of coronavirus contagion remains still above 400 new cases per 100,000 residents in 14 days, a high-risk level but way down from the mid-January record. Fueled by the omicron variant, the two-week variable surged then above 3,400 new cases per 100,000 residents.

Since the first case was identified in early 2020, Spain has officially reported 11.3 million infections and just over 100,000 confirmed deaths, although the accuracy of record-keeping has varied during the pandemic.

2 p.m. (updated) White House press secretary Jen Psaki said Tuesday that she is positive again for COVID-19 and will not accompany President Joe Biden to Europe this week for urgent meetings with world counterparts on Russia’s invasion of Ukraine.

Biden tested negative on Tuesday, she said.

Psaki’s reinfection follows recent positive tests for Vice President Kamala Harris’ husband and Ireland’s prime minister, who was in the nation’s capital last week for a series of in-person celebrations of St. Patrick’s Day with Biden and other officials.

The scares happened as the Biden administration tries to help the United States ease back into its pre-pandemic patterns, even as cases climb in Europe due to a new, more contagious variant of the omicron strain of the coronavirus.

Psaki tweeted that she took a laboratory test for COVID-19 as part of her preparation for the trip, which gets underway on Wednesday, and was later notified of a positive result.

She said she had two “socially distanced meetings” with Biden on Monday and that he is not considered a “close contact” under Centers for Disease Control and Prevention guidelines.

Psaki tweeted and released a statement a short time before she was scheduled to step into the White House press room for her daily briefing, accompanied by National Security Adviser Jake Sullivan, who was joining her to discuss the trip.

After a brief delay, White House deputy press secretary Chris Meagher entered and introduced Sullivan to a waiting White House press corps.

“Obviously, we’ve had some last-minute adjustments to the briefing, which is why I’m up here today,” Meagher said before he read a statement on Supreme Court nominee Ketanji Brown Jackson’s performance at her confirmation hearing before the Senate Judiciary Committee. He took no questions.

Sullivan made a statement and spent about 16 minutes answering questions about the trip.

Psaki said she will follow CDC guidance and not accompany Biden to Brussels, where he will attend a series of meetings with European and other world leaders on Russia’s war in Ukraine. Biden also plans to visit Poland, which shares a border with Ukraine and has taken in more than 2 million Ukrainians fleeing warfare following Russia’s Feb. 24 invasion.

Psaki said she has experienced only mild symptoms of COVID-19 and credited being vaccinated against the disease. Under White House COVID-19 protocols, she said she will work from home and return to work at the end of a five-day isolation period and a negative test.

It’s not unheard of for someone who has had COVID-19 to become infected again. Reinfections became more likely after the super-contagious omicron variant emerged, even among the fully vaccinated, but those cases tend to be very mild.

As coronavirus cases plummeted around the United States this year, and states and localities dropped their mask-wearing requirements, the White House did as well. As of March 1, neither White House staff nor reporters were required to wear face masks inside the building.

But some scientists are beginning to worry that the omicron variant known as BA.2 could soon push up COVID-19 cases in the United States, after months of case declines and people taking off their masks and returning to indoor spaces.

Harris’ husband Doug Emhoff tested positive on March 15, though he is not considered a close contact of the president. Harris has continued to test negative.

The following day, Irish Prime Minister Micheál Martin learned he had tested positive for COVID-19 while attending a gala with U.S. leaders, including Biden. Martin was due to appear with Biden at the White House on St. Patrick’s Day but instead made those appearances on video.

This is the second time that COVID-19 has forced Psaki to bow out of accompanying Biden abroad. She sat out last fall’s trip to Rome and Glasgow, Scotland, after learning at the last minute that she had tested positive.

12:40 p.m. Ontarians could again show their faces in stores, restaurants and classrooms on Monday as the province lifted COVID-19 mask mandates in most settings.

But one exemption to the rule change is public transit, where riders can’t officially ditch their masks for another five weeks.

The province says keeping the mask requirement on transit will protect the health of vulnerable riders, but with pandemic-weary residents being told it’s safe to unmask almost everywhere else, some experts are worried passengers will soon stop following the rules.

Read the full story from the Star’s Ben Spurr

12:24 p.m. Quebec is reporting seven more deaths attributed to COVID-19 and a 41-patient increase in the number of hospitalizations Tuesday.

The Health Department says 1,043 people are hospitalized with the disease after 100 patients were admitted and 59 discharged.

Authorities say there are 46 patients listed in intensive care, a decrease of two from the previous day.

Officials say 1,383 people tested positive for COVID-19 based on PCR testing, which is limited to certain high-risk groups. They say 3,804 doses of vaccine were administered on Monday, including more than 2,500 booster shots.

11:10 a.m. In an attempt to focus on pandemic recovery, a COVID-19 clinic operated at a hospital in Mississauga will be suspending operations at the end of the month.

The vaccination clinic at Credit Valley Hospital will no longer run past March 25, according to an announcement shared by Trillium Health Partners (THP).

Residents can still access their first, second or third dose from 9:30 a.m. to 3:30 p.m. on the 25th through online bookings, said THP.

10:35 a.m. (updated) Ontario is reporting 179 people in ICU due to COVID-19 and 639 in hospital overall testing positive for COVID-19, according to its latest report released Tuesday morning.

Of the people hospitalized, 46.3 per cent were admitted for COVID-19 and 53.8 per cent were admitted for other reasons but have since tested positive. For the ICU numbers, 71.2 per cent were admitted for COVID-19 and 28.9 per cent were admitted for other reasons but have since tested positive.

The numbers represent a 1.1 per cent decrease in the ICU COVID-19 count and a 16 per cent increase in hospitalizations overall. 30 per cent of the province’s 2,343 adult ICU beds remain available for new patients.

Read the full story from the Star’s Isaac Phan Nay

10:30 a.m. Pfizer said on Tuesday that it has agreed to sell up to 4 million treatment courses of its COVID-19 pills for use in 95 lower-income countries that are home to about 4 billion people, with the first supplies expected to become available next month.

The company’s supply agreement with UNICEF, the arm of the United Nations, covers all countries classified as low- or lower-middle-income, as well as some upper-middle-income countries in sub-Saharan Africa and other parts of the world.

The pills will most likely be the first COVID drugs available in some of the poorest parts of the world. But they are enough for only a small fraction of the patients who could benefit.

8:30 a.m. Netherlands coach Louis van Gaal has tested positive for COVID-19 and gone into isolation, disrupting his team’s preparations for friendly internationals against Denmark and Germany.

The Dutch soccer association said in a statement that the 70-year-old Van Gaal tested positive on Tuesday morning.

Van Gaal’s assistants, Danny Blind, Henk Fraser and Frans Hoek, will stand in for the coach as the Netherlands squad prepares to play Denmark on Saturday and Germany on Tuesday. Both matches are at the Johan Cruyff Arena in Amsterdam.

8:15 a.m. Almost 1 million people in the United States have died of COVID-19 in the past two years, but the full impact of the pandemic’s collateral damage is still being tallied. Now a new study reports that the number of Americans who died of alcohol-related causes increased precipitously during the first year of the pandemic, as routines were disrupted, support networks frayed and treatment was delayed.

The startling report comes amid a growing realization that COVID-19’s toll extends beyond the number of lives claimed directly by the disease to the excess deaths caused by illnesses left untreated and a surge in drug overdoses, as well as to social costs such as educational setbacks and the loss of parents and caregivers.

Numerous reports have suggested that Americans drank more to cope with the stress of the pandemic. Binge drinking increased, as did emergency room visits for alcohol withdrawal. But the new report found that the number of alcohol-related deaths, including from liver disease and accidents, soared, rising to 99,017 in 2020 from 78,927 in 2019 — an increase of 25 per cent in the number of deaths in one year.

7:10 a.m. A busted elevator at Cedarbrook Community Centre has dealt a losing hand to bridge-playing seniors who can’t climb the stairs.

After a two-year pause due to COVID-19, members of the Mid-Scarborough Bridge Club are excited at the prospect of shuffling up and dealing, with the lifting of restrictions and health advice that grounded its players.

The club began in 2018 and grew to 150 members — mostly seniors — with dozens showing up at a time for twice-weekly sessions in a large, second-floor room at Cedarbrook, on Eastpark Boulevard, until the pandemic.

Read the full story from Jack Lakey

6:30 a.m. Councillor Joe Cressy, the chair of Toronto’s Board of Health, says the city has reached a new milestone with 89 per cent of residents 12 and older now double vaccinated.

“Toronto is already a world leader in vaccination rates, and we’re not slowing down. We’re scaling up our equity-focused strategy to make vaccines accessible for all Torontonians,” he wrote in a tweet.

6:20 a.m. As Suri Weinberg-Linsky wandered the aisles of her small, west-end book shop Monday, she was pleasantly surprised: Customers were still wearing masks.

“I haven’t had to remind a single person today that they need to wear a mask. Everyone’s had one on when they come in, and I’ve been here since 10:30 (a.m.),” said Weinberg-Linsky, owner of Squibb’s Books and Stationery, Toronto’s oldest bookstore.

On the first day that Ontario’s province-wide mask mandate was lifted, Weinberg-Linsky was one of several business owners insisting customers and staff still wear masks to prevent the spread of COVID-19.

Elsewhere, business owners, staff and customers were trying to strike a balance, partly to avoid the heated arguments which took place when mask mandates were first introduced. Retailers, gyms, movie theatres, restaurants and bars are now allowed to have customers and staff mask-free. Many, including Walmart, Cineplex, IKEA and Maple Leaf Sports and Entertainment, have made masking voluntary.

Read the full story from the Star’s Josh Rubin

6:17 a.m. The Omicron subvariant BA.2 is continuing to gain ground in the U.S., according to COVID-19 tests sequenced over the last two weeks. Helix, a San Diego-based genomics firm, estimates that 50 per cent to 70 per cent of all COVID cases in the country are BA.2.

6:17 a.m. Japan’s government lifted quasi-state of emergency measures in Tokyo and other regions across the country, bringing to an end steps introduced in early January as cases continue to tumble. Infections peaked in Tokyo in early February. Bars and restaurants, which were subject to requests to close early, will resume normal opening hours from today.

6:16 a.m. China should stick to its strict Covid Zero strategy, the country’s top virus expert said, hours after Hong Kong set out a plan for easing its most stringent curbs. The comments from Liang Wannian, a seasoned epidemiologist who has overseen China’s response since the beginning of the pandemic, came as Shanghai saw a record number of cases for a second straight day. China added 4,594 local cases overall on Monday.

6:15 a.m. Health officials in South Korea have instructed crematories to burn more bodies per day and funeral homes to add more refrigerators to store the dead as families struggle with funeral arrangements amid a rise in COVID-19 deaths.

The country has been dealing with a massive coronavirus outbreak driven by the fast-moving Omicron variant, which has compromised a once robust pandemic response and is driving up hospitalizations and fatalities.

Officials have already allowed the 60 crematories across country to burn for longer hours starting last week, which raised their combined capacity from around 1,000 to 1,400 cremations per day.

But that hasn’t been enough to meaningfully ease the backlog of bodies waiting to be cremated in the densely populated Seoul metropolitan area, which is home to half of South Korea’s 52 million people and the centre of its COVID-19 outbreak. The backlog has also trickled down to funeral homes at hospitals and other facilities, where families have struggled to make funeral arrangements because of the longer wait for cremations.

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Today’s coronavirus news: Ontario reports 2,797 hospitalizations, 541 in ICU; chief medical officer urges Ontarians to get third shot

The latest coronavirus news from Canada and around the world Thursday. This file will be updated throughout the day. Web links to longer stories if available.

5:05 p.m. Yukon is making tentative plans to gradually lift its COVID-19 restrictions, but the state of emergency declared in November will remain in place for another 90 days, The Canadian Press reports.

Premier Sandy Silver says starting this weekend limits on sports teams under 19 will be allowed to increase to 25 people or half the venue’s capacity, while the same rules will apply a week later to those over 19 in recreation and arts events, according to CP.

Next week, indoor personal gatherings will be allowed for up to 10 people and it will no longer be limited to two households.

The following week, Silver says Yukon plans to increase the limit on indoor organized events to half of the venue’s capacity, and will allow groups of up to six people per table at bars.

He says the government aims to allow bars and restaurants to return to normal operating hours starting March 1, no longer requiring them to close at 10 p.m.

Silver says the state of emergency may be revoked if it’s no longer needed, while the territory’s reopening plans may also be changed, based on case counts and the number of people in hospital.

5:05 p.m. Another four people have died in New Brunswick as a result of COVID-19, bring the total number of deaths in the province to 251, The Canadian Press reports.

Four other COVID-19-related deaths were reported yesterday, according to CP.

The province says 165 people are in hospital due to the disease, including 14 in intensive care.

It says 392 healthcare workers have tested positive for COVID-19 and are in isolation.

Officials are reporting 411 new COVID-19 cases today.

New Brunswick has 4,012 active reported infections.

4:13 p.m. Nova Scotia is reporting four more deaths due to COVID-19, for a total of 157 since the start of the pandemic, The Canadian Press reports.

Health officials said today the deaths involve one woman in her 60s, a woman in her 80s, and a woman and a man in their 90s, according to CP.

Officials say there are about 351 patients in hospital with COVID-19.

Chief medical officer of health, Dr. Robert Strang, says the Omicron variant of the novel coronavirus continues to have devastating impacts on the province’s most vulnerable residents.

About 26 per cent of the people in hospital with COVID-19 are unvaccinated.

That percentage is close to triple the percentage of unvaccinated people in the general population.

4:13 p.m. The government has issued an order-in-council clarifying that truckers are not exempt from a vaccine mandate after bureaucrats were confused by their own policy, reports The Canadian Press.

The Canada Border Services Agency created widespread confusion last month after it issued a statement to media saying that unvaccinated truckers would remain exempt from quarantine and testing requirements after entering the country at the Canada-U.S. border, according to CP.

The federal government said the next day the statement had been sent in error, but not before some unvaccinated big-riggers had already been dispatched across the border.

The Canadian Press later revealed the confusion stemmed from bureaucrats misinterpreting policy at both the border services agency and the Public Health Agency of Canada, including whether an order-in-council, which sets out decisions made by cabinet, covered truckers or not.

The government this week issued another order-in-council to “clarify” that unvaccinated and partially vaccinated truckers are not exempt from the COVID-19 vaccine mandate when entering Canada, except if they are delivering medically necessary supplies and equipment.

The Public Health Agency said the government had extended most of its border measures and made updates to some others. It said they would be in effect until at least the end of February.

3 p.m. Dr. Kieran Moore, chief medical officer of health for Ontario, said that health indicators show a gradual improvement in the spread of COVID-19 in the province, as Ontario proceeds to reopen gradually.

The number of hospitalizations are stable, Moore said, and ICU numbers are still high, but the number of COVID-19 cases is dropping. The number of outbreaks at long-term care (LTC) homes is declining and the number of cases among residents and staff is dropping.

“We must remain vigilant and adhere to public health measures,” said Moore, who added that people should stay home if sick, wear a mask, keep a distance from others and look to get a booster shot.

Asked what learning to live with COVID-19 entails, Moore said it meant acknowledging that Omicron is highly contagious and hard to limit and so the question is how many public measures does it make sense to keep in place.

“We need to have a discussion in society about this,” said Moore, who added that countries that do not have a full suite of public health measures are also seeing a decline in cases.

Asked by a reporter if there really is a greater risk of transmission in the unvaccinated than in the doubly vaccinated, Moore said that this may not be significant, however, having three shots is of “great benefit.

“Three doses provides 95-per-cent protection against severe outcomes,” said Moore, who added that two doses does protect against severe outcomes, too, although not to the degree that three shots do.

If it seems that two doses does not work especially well against the Omicon variant, the government may reconsider its passport system. He added that passports do protect those among the unvaccinated who are most at risk.

Moore urged more Ontarians to get their third shot.

“It is so beneficial against the risk of transmissions, but especially against severe outcomes,” Moore said.

Asked what public health measures are likely to endure, Moore said masking would be the last to go. He added that, at some point, proof of vacination may be reviewed.

Moore said he hopes it becomes a community standard to get vaccinated regularly and that, perhaps, drug companies may be able to integrate the COVID-19 vaccine with other flu vaccines so people find it convenient to take them in the fall when the viruses intensify each year.

“I hope that the combination of vaccination and anti-viral (pills) will enable us to return to normality,” he said.

“We are in a much better position to be less fearful of this virus and to learn to live with it,” Moore said.

Moore said Ontario is monitoring the new BA.2 variant emerging. So far, there are 29 cases. “It is early days and we are monitoing it closely,” he said.

Asked about the amount of PCR testing being done, Moore said that it is this kind of testing is a limited resource and must be prioritized for those working in ICUs and their families. Ontario will rely on different data points to guage the level of COVID-19, he added.

1:35 p.m. It’s been a crisis long in the making. Now, as we head into the third year of a global pandemic, Ontario’s nurses are barely holding on.

Across Canada, nurses are leaving their jobs in droves, citing burnout, inadequate pay, dangerous conditions and more. With COVID cases anticipated to climb as Ontario reopens, Premier Doug Ford is set to sit down with Ontario Nurses Association (ONA) president Cathryn Hoy Thursday to discuss solutions.

“We entered the pandemic short on nurses to begin with,” Hoy told the Star Wednesday. “We have been telling the government that for years… Now, a pandemic has enhanced it.”

Read the full story from the Star’s Kevin Jiang

1:15 p.m. Former Alaska Gov. Sarah Palin was back in a New York City courtroom Thursday, more than a week after the start of a trial in her libel lawsuit against The New York Times was postponed because she tested positive for COVID-19.

After a jury was quickly selected, Palin attorney Shane Vogt told Manhattan federal court jurors in an opening statement to put aside their opinions about Palin and determine if the newspaper defamed her.

Palin will be the trial’s star witness. She’s seeking unspecified damages based on claims that an editorial in the Times hurt her budding career as a political commentator.

1 p.m. Africa’s top health official is launching a campaign to enlist young people to encourage vaccinations, as just 11.3 per cent of the continent’s 1.3 billion people are vaccinated against COVID-19.

Youths will be encouraged “to play an active role” in ramping up inoculations across the continent where the vaccination rate is far below other regions in the world, Africa Centers for Disease Control and Prevention director John Nkengasong said Thursday.

Africa so far has 10.8 million confirmed infections and 240,000 deaths and vaccination efforts have been accelerating as vaccines doses are “becoming readily available” on the continent, Nkengasong said. In the last four weeks, Africa has seen an average 10 per cent decrease in new cases, he said.

12:40 p.m. Police and city officials are preparing for a convoy of truck drivers protesting vaccine mandates to converge upon Toronto this weekend, with Mayor John Tory vowing to do “everything we can” to avoid the disruption on display in the nation’s capital.

“I have made it clear to (Toronto police) Chief Ramer that we must work together to do everything we can to avoid the kind of situation currently faced by Ottawa residents and businesses, to keep Toronto residents safe, and to try to ensure that any protests are respectful and peaceful,” Tory told city council Thursday morning.

Toronto police issued a statement Wednesday saying the force was “aware” of and preparing for a demonstration planned Saturday in the city’s downtown core, Flyers circulating online call for supporters of the “Convoy for Freedom” to meet in designated spots throughout the GTA then head towards Queen’s Park for a midday protest.

Read the full story from the Star’s Wendy Gillis and David Rider

12 p.m. Quebec is reporting 42 more deaths attributed to the coronavirus as hospitalizations related to COVID-19 again dropped.

The Health Department says there are 2,637 people in hospital, a drop of 93 compared to the previous day as 193 patients were admitted and 286 left.

Of those in hospital, 191 patients are listed in intensive care, a decline of 13 patients.

The province is reporting 3,592 new cases confirmed by PCR testing — which is limited to certain higher-risk groups — and 963 positive rapid tests declared through a provincial online platform.

11:30 a.m. Ottawa’s mayor is calling on several Conservative MPs and a senator from Saskatchewan to apologize for praising the anti-vaccine mandate protest that has brought the capital’s downtown to a standstill for close to a week.

A photo shows MPs Warren Steinley, Kevin Waugh, Andrew Scheer, Fraser Tolmie, Rosemarie Falk and Sen. Denise Batters grinning — some giving the thumbs-up — in front of one of the protest trucks, which have been barricading roads and honking horns in the city almost non-stop since Saturday.

On Twitter, Waugh said a few of Saskatchewan caucus members “went to show their appreciation for the hardworking, patriotic truckers who have kept our supply chains healthy & grocery shelves stocked for the past two years.”

11:07 a.m. Saskatchewan Premier Scott Moe says his government will soon end COVID-19 measures that restrict people’s rights and freedoms.

Moe makes the comment in a four-minute video posted last night on social media.

He says it’s impossible to eliminate COVID-19, so we must learn to live with the virus while continuing to protect ourselves with vaccines, anti-viral treatments and testing.

He says that moving forward Saskatchewan will manage COVID-19 like it does with other common respiratory viruses since Omicron is less severe and people who are vaccinated can still get the virus.

10:35 a.m. NFL and SoFi Stadium officials joined with local leaders to reiterate that masks will be required for fans at the Super Bowl in Inglewood to help protect against Omicron transmission.

The mask requirement in outdoor stadiums, an order issued in L.A. County last August, was criticized as unnecessary this week by a member of the Board of Supervisors, Kathryn Barger, who represents a northern part of the county, after photos emerged of many fans maskless in their seats at Sunday’s Los Angeles Rams game.

But at a press conference Wednesday, several local elected officials backed the mask mandate, including Inglewood Mayor James T. Butts Jr. and L.A. County Supervisor Holly Mitchell, whose district includes SoFi Stadium. Guests at the Feb. 13 game will also need to show proof they’ve been vaccinated or recently tested negative for the coronavirus prior to entry, a requirement that has been in place for large outdoor events in the county since October.

10:20 a.m. Ontario is reporting 2,797 COVID hospitalizations and 541 people in ICU. Another 74 deaths were reported over the last 23 days.

83 per cent of patients admitted to the ICU were admitted for COVID-19 and 17 per cent were admitted for other reasons but have tested positive for COVID-19.

In Ontario, 30,832,550 vaccine doses have been administered. 92 per cent of Ontarians 12+ have one dose and 89.3 per cent have two doses, according to Health Minister Christine Elliott.

9:40 a.m. Palestinians are facing a winter coronavirus surge driven by the omicron variant, placing stress on the medical system even though vaccines are widely available.

The Palestinian Authority’s Health Ministry reported over 70,000 active cases in the Israeli-occupied West Bank, annexed east Jerusalem and the Gaza Strip on Thursday, more than twice the number at the height of previous surges.

The real figure is likely much higher, as omicron tends to cause milder symptoms, especially in vaccinated patients, and many people are testing at home.

At least 268 people have been hospitalized in the parts of the occupied West Bank administered by the Palestinian Authority, including 80 in intensive care and 24 people on ventilators. Gaza currently has at least 63 serious cases.

8:25 a.m. Nordic combined star Jarl Magnus Riiber of Norway has tested positive for COVID-19.

The 24-year-old Riiber is No. 2 in the World Cup rankings after a three-year run of being the top-ranked athlete in the sport that combines ski jumping and cross-country skiing. He fell just short of a medal twice at the 2018 Olympics, finishing fourth in the large and normal hill competitions.

Riiber said on Instagram “the (gold) is yours guys.”

7:50 a.m. For millions of people in rich countries, COVID-19 self-tests are abundant and free, including in Britain, Canada, France and Germany. But most people across Africa have limited access to them.

Zimbabwe introduced free walk-in testing centers in November 2020, but supplies are tight and the country still has no national program to distribute at-home tests.

Although self-tests are available in some Zimbabwean pharmacies, they cost up to $15 each, a fortune in a country where more than 70{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of the population lives in extreme poverty made worse by the pandemic. The situation is similar elsewhere across the continent — and in parts of Asia and Latin America — with few, if any, opportunities for people to easily test themselves.

Perhaps the biggest obstacle to making inexpensive, self-tests widely available in the developing world is that the World Health Organization has yet to issue guidance on their use. Without the resources of wealthy countries to buy tests or evaluate their safety, poor countries must wait for WHO approval before aid groups and international agencies are willing to donate them in large numbers.

7:22 a.m. Czech hockey star David Krejci tested positive for the coronavirus upon arrival in Beijing and missed the team’s first full pre-Olympic practice.

Coach Filip Pesan says Krejci is still in the athletes village awaiting more COVID-19 test results. Pesan voiced optimism about Krejci being cleared Friday after a similar situation unfolded with another player.

The 35-year-old longtime Boston Bruins center is expected to be among the best players in the tournament without NHL players. Krejci won the Stanley Cup with Boston in 2011 and has 854 points in 1,118 regular-season and playoff games.

6:05 a.m. Rufsa Hasina Afroze, a teacher and academic supervisor at a leading private school in Bangladesh’s capital was relieved to see students return to its campus in September after it was closed for 543 days because of the pandemic.

It was only a brief respite from online learning. With the recent surge in coronavirus cases mostly because of the omicron variant, authorities have ordered the schools to close once more.

“It was not the same campus, but still we were happy to return,” she said. “During the whole period I missed my students and colleagues. It was a big challenge for me to adjust to the new reality.“

The closure initially was just for two weeks, until Feb. 6. But on Wednesday Education Minister Dipu Moni announced it was to be extended for another two weeks.

Read more from the Associated Press.

5:45 a.m. City of Toronto staff anticipated that a scaled-back version of the mayor’s transit plan unveiled last year could be criticized as an unwise use of money during the COVID-19 pandemic, according to internal emails.

The documents, which the Star obtained through a freedom of information request, show bureaucrats wanted to be able to address concerns that the $1.46 billion required for Mayor John Tory’s updated SmartTrack proposal would be better spent on other transit priorities, particularly in light of the economic challenges and social inequality Toronto was confronting during the coronavirus crisis.

Experts say those concerns were well-founded, and other transit projects that have taken a back seat to the mayor’s plan would better serve marginalized Torontonians hardest hit by COVID-19.

Read more from the Star’s Ben Spurr.

5:40 a.m. Germany’s independent vaccination advisory panel said Thursday it is recommending a second vaccine booster shot for people aged 70 and above, among others particularly at risk from COVID-19.

In a draft recommendation, the panel also advocated the extra shot for residents of nursing homes, people with immunodeficiency aged 5 and above, and staff at medical and nursing care facilities.

It said that the at-risk groups should get the second booster three months at the earliest after the first, and health sector staff should receive it after six months. It pointed to data showing that the protection provided by the first booster against the now-dominant omicron variant wanes after a few months, particularly for the highest-risk groups.

5:35 a.m. Trustees with the Toronto District School Board approved a motion to provide medical masks for all students Wednesday evening.

Level 3 medical grade masks will be made available to all TDSB students, the board said in a statement.

Students are allowed to continue to wear their own mask, but one optional medical mask per day will be available to all students until the end of the school year.

The cost of the project will range from $444,000 to $2 million, depending on the number of masks used by students. It will be paid for by TDSB’s reserve funds.

Read more from the Star’s Erin LeBlanc.

5:30 a.m. Sweden on Thursday joined other European nations in saying it will remove coronavirus restrictions.

“It is time to open Sweden again,” said Prime Minister Magdalena Andersson, announcing the restrictions would be removed from Wednesday next week.

Among the measures and recommendations that will be lifted, Sweden will allow people to return to restaurants with no limitation on how many people can be there, how much space there should be or opening hours. Requirements for vaccine certificates and wearing face masks on public transportation will also be removed, as well as the recommendation to limit social contacts.

On Tuesday, neighboring Denmark took the lead among European Union members by scrapping most restrictions. Hours later, Norway lifted its ban on serving alcohol after 11 p.m. and the cap on private gatherings of no more than 10 people.

5:20 a.m. Ontario’s top doctor is set to hold a news conference on the pandemic later today, his first since public health restrictions began to ease this week.

Dr. Kieran Moore’s afternoon briefing comes after modelling from the province’s expert pandemic advisers predicted COVID-19 cases would rise after Monday’s partial reopening.

The Ontario COVID-19 Science Advisory Table said relaxing public health measures aimed at controlling the Omicron variant would increase virus spread, but the experts couldn’t say by how much.

The group said outcomes will depend partly on how many people have recently been infected, a number that is hard to determine because the province has limited access to PCR tests.

5:15 a.m. Ottawa’s mayor is calling on several Conservatives MPs and a senator from Saskatchewan to apologize for praising the anti-vaccine mandate protest that has brought the capital’s downtown to a standstill for close to a week.

A photo shows MPs Warren Steinley, Kevin Waugh, Andrew Scheer, Fraser Tolmie, Rosemarie Falk and Sen. Denise Batters grinning — some giving the thumbs-up — in front of one of the protest trucks, which have been barricading roads and honking horns in the city almost non-stop since Saturday.

On Twitter, Waugh said a few of Saskatchewan caucus members “went to show their appreciation for the hardworking, patriotic truckers who have kept our supply chains healthy & grocery shelves stocked for the past two years.” He added, “it’s great to see Canadians championing freedom on Parliament Hill.”

Mayor Jim Watson responded on Twitter by calling the action an “absolute disgrace,” saying residents have been harassed by protesters and businesses have been forced to close.

5 a.m. Health officials are warning the drop in COVID-related hospitalizations in some provinces could come to an end as public health restrictions are loosened.

Ontario’s top doctor is to hold a news conference later today, his first since restrictions began to ease this week and follows modelling from the Ontario COVID-19 Science Advisory Table that predicts a rise in cases in the coming weeks.

Ontario and Quebec are allowing indoor restaurant dining at 50 per cent capacity.

Manitoba’s chief public health officer said yesterday that data shows the province may have passed the peak of the Omicron-fuelled surge and restrictions on gathering sizes and people allowed at sports events will be relaxed beginning on Tuesday.

Alberta and Saskatchewan reported record numbers of people in hospital with COVID-19 this week as both provinces announced they hope to remove vaccine passport requirements by the end of the month.

4:55 a.m. Philippine President Rodrigo Duterte is self-isolating after being exposed last weekend to a member of his household staff who had COVID-19, but Duterte has twice tested negative following the exposure, his spokesman said Thursday.

The 76-year-old leader continues to work while in quarantine and remains in communication with his Cabinet members to address urgent issues and pandemic-related concerns, Cabinet Secretary Karlo Nograles said.

Duterte has been fully vaccinated against COVID-19 and received his booster shot last month.

4:45 a.m. One lane each way has been cleared on the highway at the main United States border crossing in southern Alberta but a new problem began late Wednesday night.

Many of the original protesters still remain in Coutts but moved their trucks over to the right side of the highway after an agreement on a partial pull back was reached earlier in the day.

But the expected stream of trucks heading toward the U.S. border didn’t materialize.

Another blockade had set up 18 kilometres to the north near Milk River. A long line of RCMP vehicles, with their lights flashing, blocked off the highway as hundreds of vehicles continued to gather on both sides of the highway with their horns blaring.

“The RCMP have made some progress to re-open Hwy 4 from Milk River to the border. Currently travel is impeded at the north part of Hwy 4 where motorists can expect an RCMP escort to the border,” the Alberta RCMP said in a tweet.

4:30 a.m. Long before the global pandemic upended sports and the world in general, the 2022 Winter Olympics faced unsettling problems.

It started with the fact that hardly anybody wanted to host them.

Beijing ended up solving that problem, but only after four European cities thought about it and dropped out, mostly because of expense and lack of public support. In the end, it was a race between two authoritarian countries. The IOC narrowly chose China’s capital and its mostly bone-dry surrounding mountains over a bid from Kazakhstan. “It really is a safe choice,” IOC President Thomas Bach said after the balloting.

Some seven years after that fateful vote, the world will find out if Bach was right. Starting with Friday’s opening ceremony at the lattice-ribboned Bird’s Nest Stadium, the spotlight will be trained on China, a country with human-rights record that troubles many, an authoritarian government and a “zero-tolerance” policy when it comes to COVID. It will be trained on what figures to be the most closed-off, tightly controlled, hard-to-navigate Olympics in history.

The build-up has turned the idea of “making it to the Games” into as much of a logistical and sometimes moral conundrum as a competitive one.

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