The Impact Assessment Agency ruled that the port authority can build its Roberts Bank Terminal 2 expansion in the water off Delta, B.C., subject to 370 conditions meant to protect the environment. The port said the project will expand capacity on the B.C. coast by a third. (The Logic)
The province’s privacy commissioner says between 2018 and 2021 four of the retailer’s locations used the technology without properly notifying customers and getting their consent to collect the information, in contravention of the B.C. Personal Information Protection Act (PIPA). (CBC)
The European Parliament voted in favour of the Markets in Crypto Act, otherwise known as MiCA. In the works for three years, it is considered the world’s most robust regulatory framework for crypto assets thus far. (Bloomberg)
The instant background-check provider said it has received more than US$29.5 million from Export Development Canada, bringing its total amount raised to date to more than US$114 million. (The Logic)
VW could reportedly get $8 billion to $13 billion in subsidies over 10 years for its new St. Thomas, Ont., battery plant, announced last month. The incentives consist of annual production subsidies and about $700 million in grants toward the capital cost of building the plant, matching the subsidies offered in the U.S. (Bloomberg)
As of December, the fair value of 170 of the 250 private firms backed by the New York-based asset manager’s Private Investment Partners XV fund had decreased since its investment, according to documents obtained by The Information. That list included Toronto-headquartered 1Password. Tiger revised the worth of its US$115-million stake in the firm to US$92.1 million. 1Password did not respond to The Logic’s request for comment.. (The Information, The Logic)
The pharmaceutical company will use IBM’s quantum computing technologies to accelerate the development of mRNA therapies and vaccines, while IBM will invest in generative AI to improve the design of those products, according to the agreement announced Thursday. (The Logic)
Abdera Therapeutics, which is working to create new treatments for cancer, said it recently closed an oversubscribed US$110-million Series B, led by venBio and with participation from other investors. (The Logic)
The all-equity round was led by BDC Capital Venture Thrive Fund with StandUp Ventures, Algoma Orchards and Tall Grass Ventures, among others, participating. (The Logic)
The funding will support projects of up to eight months designed to help the schools improve processes for turning research and inventions into market-ready products and services. The projects chosen are from Conestoga College; Durham College; Collège La Cité; Lambton College; Niagara College; York University; and a joint effort between Laurentian University, Trent University, Lakehead University and Nipissing University. (The Logic)