The lender has agreed to buy over 18,000 carbon removal credits from Deep Sky over the next decade for an undisclosed price, the companies said Thursday. The cleantech firm uses direct air capture technology to suck carbon dioxide from the atmosphere, before injecting it deep underground for permanent storage. (The Logic)
The Kitchener, Ont.-based company said Avenue Growth Partners led the Series A round, with small participation from Breakwater Ventures, an early investor. (The Logic)
The Canadian Security Intelligence Service joined its counterparts in the Five Eyes alliance in saying they believe agents working for China have been posting fake employment ads for defence and foreign-policy analysts. When people with access to government information apply, the warning said, the recruiters pump applicants for valuable secrets. Even a mere tidbit of unclassified information can be combined with others and help China undermine Canada’s and its allies’ interests, the agencies said. (The Logic)
Researchers used a secure digital lab to build a prototype of a worm, or digital invader, that was able to spread between interconnected devices without human intervention, showing publicly available AI models can be used to engineer sophisticated threats. (The New York Times)
U.S. Trade Representative Jamieson Greer recommended sweeping tariffs on 59 countries and the entire European Union late Tuesday night, either because they do not prohibit imports made with forced labour or, in Canada’s case, have “failed to effectively enforce” a ban. (The Logic)
The e-commerce platform firm said Tuesday that its board has authorized an additional US$3 billion in share repurchases, starting June 8. (The Logic)
Output per hour worked dropped 0.5 per cent in the first quarter, after slumping 0.3 per cent in the previous quarter, Statistics Canada reported. Companies produced less output even though their employees logged more hours. (The Logic)
The Canadian Centre for Cyber Security is among the organizations newly authorized to use the advanced AI model, AI Minister Evan Solomon said, as the U.S. AI company widens the circle of companies and officials allowed to work with the model that’s startlingly good at exploiting software vulnerabilities. He called it a “very important step to increase our access and to make sure that Canadian systems are protected.” (The Logic)
The Vancouver-based early-stage investment firm closed its fifth main venture capital fund with US$78 million, and raised another US$30 million for an opportunities fund that will invest more money into Version One’s most promising portfolio companies. (The Logic)
The founder of Citron Research faces up to 25 years in prison after a U.S. federal jury found he used misleading social media posts and public commentary to manipulate stock prices tied to his trading positions. (Bloomberg)