A high-school-aged youth has been diagnosed with “severe respiratory illness,” and was on life support, but is now recovering, said Dr. Christopher Mackie, CEO of the health unit, in a press conference Wednesday. Mackie declined to specify the brand of the vape used and whether it contained cannabis. Seven deaths have been reported in the U.S., in cases mainly involving black-market vapes that contained THC, the psychoactive ingredient in cannabis. (The Logic, Gizmodo)
Alain Bouchard, co-founder and executive chairman of the board, said the convenience store operator is developing a strategy so it can move quickly as regulations change to permit cannabis in different regions. (La Presse)
Other investors included Barclays Bank, RBC Ventures and BMO Capital Partners, as well as previous investors including OMERS Ventures, JPMorgan Chase and BDC Capital’s IT Venture Fund. The funds will be used to develop the next generation of TouchBistro’s restaurant point-of-sale (POS) software and new payment systems, and to expand into new markets. (The Logic)
The Toronto-based venture capital firm was set up in 2012 by Murray McCaig, a former cleantech and private equity executive, and software entrepreneur Tom Rand. Investors in the fund so far include TD Bank, Suncor, BDC Capital, OMERS and Equinor. The new capital pool is the largest cleantech venture fund in Canada, according to ArcTern’s release; it was originally seeking to raise $150 million. (The Logic)
Tech’s annual impact on the region’s economy increased from $5.2 billion in 2014, according to a report from the Atlantic Provinces Economic Council, an independent policy research firm that analyzed 463 local digital companies. Most were small; 44 per cent had less than $1 million in revenue and fewer than 20 employees. The industry accounted for three per cent of the region’s total economy. (The Logic)
The average dropped to $678,792 per household, according to a study from Environics Analytics, a data and marketing firm. Household wealth measures assets, like real estate, minus debt, like mortgages. (The Logic)
In June, the Trump administration revoked India’s status in the Generalized System of Preferences program, which allowed some imports like auto parts and textiles from approved countries to avoid duties. Twenty-six Democrats and 18 Republicans signed the open letter to U.S. Trade Representative Robert Lighthizer calling for it to be restored. India was the largest user of the program—US$6.3 billion worth of exports to the U.S. in 2018 received the duty waiver. (Reuters, Press Trust of India)
The $199 voice-activated Portal TV will attach to televisions and allow users to use streaming services and make video calls. It goes on sale Wednesday in Canada, and works with Amazon Prime Video and Spotify. (The Logic)
Seventy-five countries out of 176 are using AI-based technology for surveillance, according to a new report from the Carnegie Endowment for International Peace, a Washington, D.C.-based think tank. Of those 176 nations, 51 per cent of advanced liberal democracies deploy surveillance systems, compared to 41 per cent of autocratic states. (The Logic)
In a webcast to employees Tuesday, co-founder and CEO Adam Neumann said he felt he knew how to run a private firm, but had received feedback on how he should lead one that’s soon to be public. He did not take questions after the presentation. The announcement of the delay had come the previous evening, amid investor doubts over the company’s valuation and concerns around its corporate governance. WeWork’s bond prices fell on the news, with the yield on its US$702 million of junk debt rising to 8.9 per cent; when it first borrowed the funds, its yield was 7.88 per cent. (Financial Times, Wall Street Journal)