If the deal goes through, Blackstone-backed Hipgnosis Songs Capital would earn revenue from the Canadian pop star’s recorded music and songwriting royalty streams, which includes six studio albums, remix and compilation albums and dozens of singles. (The Wall Street Journal)
For the next 18 months, new electricity connection requests from crypto miners will be put on hold and projects in the early stages of connection will be halted while the province develops a permanent framework for the sector. (The Logic)
The Waterloo, Ont.-based software company’s fiscal third-quarter revenue dropped to US$169 million, down from US$184 million in the same period last year. Its shares closed down more than nine per cent Wednesday on the Toronto Stock Exchange. (The Logic)
The American cryptocurrency-trading platform has hired Lucas Matheson, former senior director of operations at Shopify, to lead its Canadian operations, the company confirmed to The Logic in an email. The Globe and Mail first reported the news. (The Logic)
One-fifth of all new vehicles sold in Canada will need to be zero emissions by 2026 under proposed federal regulations published Wednesday by Environment Minister Steven Guilbeault. The requirement will rise to 60 per cent of all sales by 2030 and 100 per cent by 2035. (The Logic)
Following a user poll in which 57.5 per cent of participants said he should step down as head of Twitter, the social media company’s mercurial owner tweeted that he’ll name a new chief executive as soon as he finds “someone foolish enough to take the job.” One little asterisk, though: Musk will still “run the software & servers teams.” (The Logic)
Responding to the rise of ChatGPT and similar systems that provide full-sentence responses to queries is make or break for the tech giant, an executive told The New York Times. Google’s leadership declared a “code red” after ChatGPT’s release and employees reportedly raised concerns about the tool at an all-hands meeting last week. (The New York Times, CNBC)
Statistics Canada’s consumer price index rose just slightly less in November than the 6.9 per cent annual increase the agency registered in October, and gasoline prices even declined from the month before. But grocery costs rose faster, with breakfast items—coffee and tea, eggs, cereal and bakery products—all posting double-digit increases from their prices in November 2021. (The Logic)
The Ontario auto-parts maker agreed to buy Veoneer’s unit focused on features like cameras, radar, autonomous emergency braking, blind-spot detection and monitoring for driver drowsiness from SSW Partners. (The Logic)
The Big Four financial services firm, which is acting as a trustee for the collapsed Canadian crypto platform’s estate, is “actively investigating” the transfer of US$1.7 million in bitcoin from wallets thought to be beyond anyone’s control, according to a new document posted to its site for the case. (The Logic)