A Russian hacking group sought to compromise the IP address of an unnamed natural gas pipeline operator based in Canada, classified U.S. intelligence documents say. (The New York Times)
In a conference call Monday, Jonathan Price said that Swiss mining and oil giant Glencore’s hostile offer to buy Vancouver-based Teck would have a “contaminating and diluting” effect on its businesses and “destroys value for our shareholders.” (The Logic)
The Brampton, Ont.-based retailer said it is taking over all of the U.S. mattress-in-a-box company’s Canadian assets. It will receive a US$4.5-million marketing transaction fee from Casper over four years, as well as warrants that would convert to a roughly one per cent stake in the company once exercised. (The Logic)
Operators “should not upload confidential information related to the country and the finance industry” to the query-answering service and similar tools, the Payment and Clearing Association of China said in a statement. It cited “risks such as cross-border data leaks.” (Reuters)
The San Francisco-based firm announced on its blog that starting April 7 new Canadian users will no longer be able to onboard onto the exchange. As of April 14, existing Canadian users will be moved to “close-only mode,” where they will only be able to withdraw funds. (The Logic)
Nine former employees said video footage of Tesla customers’ embarrassing or dangerous behaviour spread around the office between 2019 and 2022, despite the automaker’s pledges to keep recordings private. (Reuters)
Mithaq Capital, a Saudi-based family office that owns about 20 per cent of shares in the Montreal-based company, cited “concerns previously raised with Aimia regarding capital allocation decisions relating to acquisitions” and said it will vote against re-electing the eight-member board. The vote is scheduled for April 18. (The Logic)
In a statement, the Alberta pension fund’s CEO Evan Siddall attributed the negative returns to “unprecedented declines” in both equities and fixed-income investments as inflation and rising interest rates roiled markets over the year. AIMCo’s total assets under management now stand at $158 billion, down about $10 billion from a year earlier. (The Logic)
The unemployment rate was steady at five per cent in March, Statistics Canada reported, just a tick worse than the record-low rate of 4.9 per cent last June and July. Wage-earning workers saw an average hourly increase of 5.3 per cent in March—meaning they gained a tiny bit of ground on inflation, which was 5.2 per cent in February. (The Logic)
The Toronto-based venture capital firm is aiming to raise $290 million in total for the fund. It will invest 25 per cent of the capital directly in startups and 75 per cent in other venture capital funds that will then deploy the money to companies. (The Logic)