The Argentine show El Eternauta contained “the very first Gen AI final footage to appear on screen in a Netflix original series or film,” CEO Ted Sarandos said on an earnings call Thursday. The streaming giant reported US$3.13 billion in net profit on US$11.1 billion in revenue in the second quarter, up 45.6 per cent and 15.9 per cent year over year, respectively. (The Logic)
The Canadian Union of Postal Workers told members the offered raise of six per cent is not enough, and the deal does nothing to prevent the company from contracting out parcel delivery. (The Logic)
The House approved the so-called GENIUS Act Thursday, which paves the way for banks and other firms to issue stablecoins, digital assets whose value is pegged to the U.S. dollar. (The Logic)
The Alberta Securities Commission alleges CatalX CFO Jae Ho Lee improperly withdrew at least $14 million worth of clients’ crypto assets from the company’s trading platform beginning in 2019 and transferred them to other trading sites, leaving the platform with a substantial shortfall after he failed to return it all. CatalX CEO Hyuk Jae Park, who was also charged, knew about the fraud in November 2023 but failed to inform the ASC until the following month, the regulator alleges. (The Logic)
Prime Minister Mark Carney told invited chiefs and representatives his plan to fast-track major infrastructure projects is designed to ensure economic prosperity for Indigenous communities for generations. (The Logic)
RBC is the latest financial institution to partner with the Business Development Bank of Canada to finance underserved entrepreneurs. Partner organizations issue debt financing through the Business Accelerator Loan Program and BDC guarantees up to 85 per cent of the loans. (The Logic)
The federal crown corporation is contributing a $1-billion loan to the 10-year plan, which will see new parking areas, a new jetty and a terminal extension at the Montréal-Trudeau International Airport. The airport will turn to the bond market for the remaining sum, Aéroports de Montréal CEO Yves Beauchamp told reporters. (The Logic, Bloomberg)
The Quebec-based convenience store’s shares rose as much as 18.5 per cent Thursday after it published an open letter cancelling its offer. Seven & i, the Japan-based parent company of 7-Eleven, saw its share price fall over nine per cent to less than 2,008 yen, well below Alimentation Couche-Tard’s 2,600-yen offer. (The Logic)
David Faugno will also take a board seat at the Canadian security firm. As executive chair, Jeff Shiner will focus on “long-term strategy and vision, and champion our work on AI,” he said in a LinkedIn post. (The Logic)
xA group of Canadian law enforcement and government bodies advised businesses to be on the lookout for people affiliated with the North Korean government who hide their identities and apply for freelance IT jobs. The workers’ salaries may go to support Pyongyang's weapons programs, the advisory warned, while the access they gain to companies can facilitate espionage and money laundering. (The Logic)