Briefings

Canadian gas explorer Valeura to list on London Stock Exchange

The Toronto-based oil and gas exploration company, valued at $256 million, plans to list on the London Stock Exchange next week. The company’s CEO, Sean Guest, said there’s more investor appetite in the U.K. city than on the Toronto Stock Exchange, where the company will remain listed; he cited the increased activity in cannabis stocks for the dip in investor interest in his company. (CityAM)

What new Alberta premier Jason Kenney plans to do for Alberta’s oilpatch

The leader of Alberta’s United Conservative Party has vowed to fight for the province’s struggling energy sector. In addition to building pipelines, Kenney has promised to set up a “war room” to defend the industry from misinformation and online attacks, scrap the NDP’s carbon tax and fight the federal government’s carbon tax efforts. He also wants to replace the entire board of the Alberta Energy Regulator in an effort to streamline the agency and reduce the hurdles companies have to go through to establish new projects. He has also threatened to turn off Alberta’s supply of oil to B.C. (Financial Post)

Amazon expected to close domestic marketplace business in China: Sources

Shoppers will no longer be able to buy goods from other third-party Chinese sellers on Amazon, though they will still be able to buy from merchants overseas in the United States, the United Kingdom, Denmark and Japan through the company’s global marketplace. Amazon will close local fulfillment centres and wind down domestic sales within the next 90 days, according to sources who spoke to Reuters. (Reuters)

Apple faces class-action lawsuit for alleged securities fraud over iPhone sales

The lawsuit filed Tuesday alleges that Apple and its CEO Tim Cook knew iPhone sales were in trouble in November 2018—due to the U.S. trade war with China and an increasing number of customers replacing phone batteries rather than buying new devices—and didn’t tell investors until January 2019. Apple’s failure to disclose this violated securities laws, the lawsuit claims. The class action is seeking to include investors who bought shares during the stated period and have losses of more than US$100,000. Apple did not immediately reply to a request for comment. (Mercury News)

The AI industry is still suffering from a lack of diversity, and isn’t doing enough to solve it, says report

Current initiatives to fix the issue are too narrow and shallow to be effective, according to a new report from the nonprofit AI Now Institute. Women only make up 10 and 15 per cent of AI research staff at Google and Facebook, respectively. Racial diversity is even worse—Black workers only make up 2.5 per cent of Google’s entire workforce, and four per cent of Facebook’s and Microsoft’s. (MIT Technology Review)

Yale School of Medicine researchers revive brain cells of dead pigs

Though the brains did not show signs of regaining consciousness, they still regained or preserved some amount of cellular function, according to the study, reported in Nature. The brains’ blood vessels began flowing with a blood substitute; some brain cells regained their metabolic activity and even responded to drugs. (New York Times, Nature)

Qualcomm and Apple reach settlement, agree to drop all litigation worldwide

The two companies—which have had legal face-offs in China, Germany and the U.S.—reached a settlement that includes an undisclosed payment from Apple to Qualcomm. The companies have also agreed on a six-year global patent licensing agreement as of April 1, which includes a two-year option to extend the agreement and a multi-year agreement to supply chips. (Bloomberg)

Italy’s antitrust watchdog probes Amazon over abuse of market position

The watchdog said it will investigate five companies within Amazon’s e-commerce and logistics business: Amazon Services Europe, Amazon Europe Core, Amazon EU, Amazon Italia Services and Amazon Italia Logistica. The competition authority said it is looking into whether Amazon gave third-party vendors benefits for using the online retailer’s logistics services. (CNBC)

Google complies with court order to block TikTok app in India

Google’s decision to block the app comes hours after an Indian state court denied a request from TikTok’s parent company to suspend the ban on its app. The state court asked the federal government to ban TikTok on April 3, citing concerns about its use in finding and distributing child pornography. The Indian government requested Apple and Google abide by the state court’s order. (Reuters)

Many tech execs accused of sexual misconduct all have new jobs

The executives accused include Eyal Gutentag, who was a Los Angeles general manager at Uber when he allegedly assaulted a female subordinate at a group outing. He was put on leave and terminated from the company within a week of the incident, but eventually was hired as chief marketing officer of ZipRecruiter, a billion-dollar employment job site. (BuzzFeed News)