A coalition including Payments Canada, Fintechs Canada and the Canadian Credit Union Association asked Finance Minister Chrystia Freeland to make more organizations eligible for membership in Payments Canada, the non-profit that oversees the country’s financial infrastructure, in the 2023 federal budget. (The Logic)
The maker of popular video game Fortnite has agreed to pay settlements worth US$520 million to resolve U.S. Federal Trade Commission complaints that it violated online privacy protections for children and tricked players into making unintended purchases. (The Logic)
The bankrupt crypto lender, previously listed on the Toronto Stock Exchange, said the American platform had “the highest and best bid for its assets.” (The Logic)
The federal ElevateIP scheme will fund the Kitchener-based accelerator as well as Springboard Atlantic; Mouvement des accélérateurs d’innovation du Québec; a consortium of the University of Calgary, Innovate Calgary and Economic Development Lethbridge; and New Ventures BC. The five groups will provide run workshops and programming for startups, and help them develop their own IP strategies. (The Logic)
European Commission Vice-President Věra Jourová warned Twitter’s owner that the European Union’s Digital Services Act requires very large platforms to respect media freedom and human rights and follow defined processes when choosing to suspend accounts or delete content, including explaining why they do it in specific cases. “There are red lines,” the Czech politician mandated to uphold Europe’s values and transparency tweeted. “And sanctions, soon.” (The Logic)
The company now has one more warehouse and two more delivery stations—including one that handles extra-large items—in the country than it did in 2021, according to its annual economic impact report. (The Logic)
The Burnaby-based company, which has piloted its carbon-capture technology at oil and gas sites, said it would use the funding to bulk up its manufacturing capabilities near Vancouver. (The Logic)
The Canadian miner said it’s still pursuing a “win-win” resolution in negotiations over its $10-billion mine with the Panama government, which halted discussions and ordered it on Thursday to suspend operations. (The Logic)
Republican Josh Hawley’s legislation would require the White House Office of Management and Budget to write rules banning the short-video app, except for law-enforcement and research uses. TikTok spokesperson Danielle Morgan said the measure is “a politically-motivated ban that will do nothing to advance the national security of the United States,” noting that the executive branch is already conducting a review. (The Logic)
The Opportunity Calgary Investment Fund (OCIF) said on Monday that Mphasis would use the money to attract up to 560 skilled workers and “expand Calgary’s talent pipeline.” Asked by The Logic for more details on the deal, Deana Haley, a vice-president at Calgary Economic Development, said she “can’t get into the specifics of the contract.” (The Logic)