Archives: Briefings

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)

Top global VC firms not meeting UN standards on human rights: Report

An Amnesty International analysis of the top 50 global venture capital firms and three startup accelerators found that just one firm, London-based Atomico, showed evidence it had done human rights due diligence on portfolio companies potentially in line with the UN Guiding Principles on Business and Human Rights. Another eight said they conducted human rights or ESG due diligence, though it wasn’t clear whether they complied with the UN standards. (The Logic)

Feds sell record-breaking $8.9B of wireless spectrum for 5G

Bell, Rogers and Telus bought more than $7.3 billion worth of the wireless-spectrum licences the federal government put up for sale in an auction that concluded July 23. Videotron and Cogeco picked up $1.1 billion worth between them; the rest were largely split among regional telecom providers, assisted by a set-aside provision meant to help upstarts compete against the big players. (The Logic)

Nuvei partners with Alipay for cross-border payments

The Montreal-based company will integrate its payment product with Alipay Plus, the cross-border payment service operated by Chinese fintech giant Ant Group, giving it access to more than 1.2 billion e-wallet users, according to a Nuvei press release. (The Logic)

Bank of Canada appoints executive to oversee retail payments

Ron Morrow, an advisor to Bank of Canada governor Tiff Macklem, has been named the bank’s executive director for retail-payments supervision, a position that reports directly to the governor. The appointment is effective Aug. 9. (The Logic)

Shopify, Ledger move to dismiss proposed class-action data-breach lawsuit

The two companies argue a lawsuit filed in April over a 2020 data breach that affected cryptocurrency-wallet operator Ledger should be dismissed, alleging the California court where it was filed does not have jurisdiction and the plaintiffs did not make sufficient arguments that the companies were negligent. The suit has not been certified as a class action. (The Logic)

Mila Kunis’s NFT project suffers cat-astrophe at launch

Would-be investors in the initial drop of “Stoner Cats,” the Mila Kunis- and Ashton Kutcher-backed NFT show featuring the voice of Russian-Canadian Ethereum founder Vitalik Buterin, wasted US$787,000 on fees for failed transactions thanks to a software error. (The Defiant)