The deputy prime minister will attend the annual meeting of the World Economic Forum’s board of trustees—of which she is a member—on Friday. Innovation Minister Navdeep Bains told reporters on a call from Davos that he’d met with executives from automakers Volvo and Mitsubishi; chemical company Dow; U.S. telecom giant Verizon; and Indian IT consulting firms Tata Consultancy Services and Tech Mahindra. (The Logic)
The federal government is backing the global payment firm’s plans for a Vancouver-based research and innovation centre with a $49-million subsidy from its Strategic Innovation Fund (SIF). Innovation Minister Navdeep Bains told reporters in a conference call from Davos, Switzerland Thursday that the centre will create “good-quality jobs that will enable Canadians to be able to navigate more safely and securely”; it’s expected to create 270 jobs by 2029. (The Logic, The Globe and Mail)
B.C.’s Passenger Transportation Board ruled Thursday that the ride-hailing companies can operate in the province; they’ll receive licences within three days. The companies still need municipal licences for each city in which they plan to operate; Vancouver has said it plans to issue licences within three days of receiving applications. (Toronto Star)
The first four days of the hearing featured Crown and defence submissions on whether the accusations the U.S. has levelled against Meng Wanzhou would constitute crimes in Canada. Defence lawyer Richard Peck told the court the case was “unique” because the victim—HSBC—was at risk because of U.S. sanctions on Iran, which Canada “has roundly rejected.” He said, “This is the type of case that tests our system.” (Business in Vancouver)
The Council of Chief Medical Officers of Health (CCMOH) recommended that federal, provincial and territorial governments enforce a wide prohibition, but allow exemptions for “a minimum set of flavours” for smokers trying to quit. It also suggested a minimum age of 21, and called for Ottawa to require vaping products to be sold in plain packaging marked with health warnings. (The Logic)
The European private equity firm is buying a majority stake in Intelerad Medical Systems from Canadian private equity firm Novacap. The deal is expected to close in the first quarter. (The Logic)
The extension will allow the public more time to offer feedback on Sidewalk Labs’ smart-city proposal for Toronto's eastern waterfront, and for Waterfront Toronto to consider that feedback as part of its evaluation. (The Logic)
The policy, effective July 1 and focusing on gender diversity, applies to companies in the U.S. and Europe, but not Asia, which has the worst reputation for board gender diversity. The bank plans to apply the policy in other markets “over time.” (Financial Times)
The elimination of about 200 jobs comes after slumping revenue and share price at the 20-year-old company. CEO Stephen Kaufer has cited Google’s increasingly aggressive play in the booming online travel sector—and predicts the competition will only get stiffer. (Bloomberg)
Vital Minerals’ US$600-million stockpile includes 3,629 tons of indium, crucial in cellphone production—enough to satisfy world demand for six years. (Bloomberg)