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Briefing

Telus’s health unit fuels second-quarter growth

The Vancouver-based telecom said its health division’s revenue grew 26 per cent, or $26 million, to $127 million year over year in the second quarter, and added one million new virtual health-care members over the past 12 months. (The Logic)

Amazon hit with EU data-privacy fine, shares slump

The Luxembourg National Commission for Data Protection fined Amazon Europe €746 million (roughly $1.1 billion) after determining the tech giant's personal-data processing did not comply with European Union rules. The company believes the “decision to be without merit and [intends] to defend ourselves vigorously in this matter,” it said in its financial filings. (The Logic)

SEC to demand more disclosures from Chinese firms seeking to go public

The U.S. securities regulator wants more information on potential risks around Chinese government actions and the structure of Chinese shell companies. Chair Gary Gensler wrote that the government-led cybersecurity reviews of Chinese companies are relevant to U.S. investors who “may not realize that they hold stock in a shell company rather than a China-based operating company.” (The Logic)

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