The federal agency is providing up to US$475 million in financing to keep the Mary River mine operating—including bringing in supplies during the summer shipping season to northern Baffin Island—while Baffinland deals with a cash crunch, broken debt obligations and liabilities that exceed its assets by US$761 million. (The Logic)
Elon Musk’s xAI failed to install safeguards before launching AI chatbot Grok’s image-generation tool, said privacy commissioner Philippe Dufresne, but there’s little the commissioner’s office can do to quickly block the sexually abusive material it says the platform is still spewing. (The Logic)
The Science Based Targets initiative (SBTi)—the leading standards-setting body for corporate climate targets—will let companies remain compliant even if they miss their carbon targets, as long as they’ve made their “best efforts” to meet them. The change is a recognition "that companies do not control everything,” the group said, “and that pretending otherwise does not serve anyone.” (The Logic)
Speaking at a Eurasia Group event in Toronto on Thursday, Annesley Wallace said that traditional approaches to assessing risk and return in different asset classes are becoming harder with AI increasingly touching more sectors. (The Logic)
The U.S. does not “need” any cars made in Ontario, Ambassador Pete Hoekstra said Thursday, but might end up wanting them if Canada put on its “sales cap” in negotiations. (The Logic)
The commerce company’s CEO will compete at the famous French endurance race in a Shopify-liveried, LMP2-class car set up by TDS Racing, which manages racing programs for clients. He’ll trade shifts, which can run up to four hours, with professional drivers Mathias Beche and Kevin Estre. (The Logic)
The Alberta oil company CEO told Calgary’s Global Energy Show that the Ottawa-Alberta deal that lashes a new pipeline together with the multibillion-dollar Pathways carbon capture project makes both of them impossible in Canada’s current business environment. (Bloomberg)
The game publisher is shutting down the studio amid a wider round of cuts across its global operations. The studio employed roughly 65 people, according to MobileSyrup. The studio had worked on the technology powering many of Ubisoft’s titles, and provided development support on games like Assassin’s Creed Valhalla and Rainbow Six Mobile. Ubisoft is also closing its Belgrade development studio and restructuring one of its Barcelona studios, putting a total of 380 jobs at risk. (The Game Business, MobileSyrup)
The four companies that filed for creditor protection represented 34 per cent of $2.2 billion the government pumped into the EV battery sector between April 2020 and September 2025, according to a provincial auditor general report. These investments had “no objective, no timeline, no measurement, no indicator, no target,” it reads. (The Logic)
U.S. Venture Partners led the Series A round, with participation from Bling Capital and Freestyle Capital. Maneva, registered in Toronto but headquartered in Palo Alto, Calif., will use the financing to further develop its AI capabilities, launch new products and expand into new markets. (The Logic)