The Liberals are once again proposing a law that would let the federal government bar particular suppliers’ gear from telecom networks, cut off services on security grounds and subject critical infrastructure companies’ cyber protections to regulator supervision.
The growth equity arm of Goldman Sachs led the round, with participation from Citi Ventures, Canapi Ventures and BDC Capital. The Winnipeg fintech, which makes software that helps advisors create personalized financial plans for their clients, plans to use the money to speed up its expansion into the U.S. and continue to develop its AI-powered platform.
The facility in Durham, east of Toronto, is to support the four small modular nuclear reactors (SMRs) to be built adjacent to Ontario Power Generation’s existing plant there. The province’s energy ministry said the Durham centre will employ more than 300 people and train more than 2,000 nuclear-industry workers a year. (The Logic)
Greenland’s government granted a 30-year license to the Toronto-based company, which owns a molybdenum deposit in central east Greenland. The miner’s stock rose as much as 25 per cent Friday. (The Logic)
The Canadian steel industry says new measures to guard against foreign steel flooding the domestic market as an end run around 50 per cent tariffs U.S. tariffs on global steel do not go far enough to curtail unfair trading practices that predate President Donald Trump’s trade war. (The Logic)
The Vancouver-based real estate development company cut its workforce by 12 per cent and delayed future projects, spokesperson Beau Jarvis, CEO of Wesgroup Properties said in a statement to The Logic. Jarvis attributed the cuts to a stagnant condo market and high market prices that “people cannot afford” in a social media post Thursday. “Housing projects across the country are being cancelled or delayed because they are no longer viable,” he wrote. (The Logic)
Telecom companies will have to keep selling access to their wires even to large competitors where those rivals don’t have networks of their own, the Canadian Radio-television and Telecommunications Commission ruled. Bell immediately called for the federal cabinet to overrule the regulator, while Cogeco vowed to fight the “terrible decision” until it’s changed. (The Logic)
The social giant made a takeover bid for the startup earlier this year and tried to recruit chief scientist Ilya Sutskever, who rejected both offers, sources told CNBC. Meta is now in discussions to hire Safe Superintelligence (SSI) CEO Daniel Gross and his venture capital partner Nat Friedman, and buy out their fund, sources told The Information. (CNBC, The Information)
Canada will adjust its existing 25 per cent counter-tariffs on U.S. steel and aluminum products on July 21, but Prime Minister Mark Carney says whether they go up, down or disappear depends on how much progress he makes in securing a new Canada-U.S. deal. (The Logic)
Prime Minister Mark Carney promised to rein in day-to-day government spending and balance the operating budget by 2028-2029, but hasn’t yet defined what that means. The Parliamentary Budget Office says there’s no standard definition of an operating cost, so it can’t say if the new Liberal government is on track. (The Logic)