Legislation introduced Tuesday would let the Competition and Markets Authority’s Digital Markets Unit (DMU) set new requirements for platforms it deems to have “substantial and entrenched” power in fields like social media, e-commerce or app stores. (The Logic)
The e-commerce giant said it terminated its Amazon Delivery Service Partner contract with Battle-Tested Strategies before 84 drivers who had organized with the Teamsters struck a tentative deal with BTS. (Business Insider)
The pension fund manager closed its Chinese equity investment team last week, with five staff laid off in Hong Kong, spokesperson Dan Madge told Reuters. Teachers’ will “no longer have country-focused stock-picking teams based in Asia,” Madge said. (Reuters)
The virtual health care company is “focused on operationalizing, aligning, and rationalizing the large number of acquisitions completed over the last two years,” it said in announcing its latest financial results. A forecast $4 million in annualized savings in the second quarter this year “will come with a cost of severance, or working notice, which will impact cash flows,” CloudMD’s news release said. (The Logic)
First-time investors participating in the e-commerce and fintech platform’s round include Export Development Canada, Plaza Ventures and Canadian tech executives like Shopify president Harley Finkelstein and Substack CEO Chris Best. (The Logic)
The money will help fund Braya Renewable Fuels’ $428-million conversion of the refinery to process and refine renewable diesel, sustainable aviation fuel, hydrogen and ammonia, among other products. (The Logic)
The federal department has hired an accounting firm to determine the merits of allegations that projects with close ties to the agency’s board and management got preferential treatment for funding. A group of former employees brought the allegations forward, the Globe reported, citing confidential sources. (The Globe and Mail)
The Manhattan U.S. attorney’s office charged 32-year-old Nathaniel Chastain, a former product manager at the NFT marketplace, in June 2022, alleging he used confidential knowledge about which NFTs would be featured on OpenSea’s homepage to reap illicit gains for himself. (Bloomberg)
The Vancouver-born singer, who co-parents two kids with Elon Musk, tweeted that she would treat samples of artificial-intelligence versions of her voice the same as any other artist collaboration, noting she does not have a label or legal bindings. (The Logic)
The combined AI research unit is called Google DeepMind, with Demis Hassabis leading as CEO and Jeff Dean as chief scientist, Alphabet CEO Sundar Pichai announced Thursday. (The Logic)