Global Times, an English-language arm of the People’s Daily, reported that China’s Foreign Ministry spokesperson Zhao Lijian vowed to “firmly safeguard the legitimate rights and interests of Chinese enterprises” after the Canadian government ordered three Chinese firms to divest from Canadian lithium miners. (The Logic)
Executives of the New York-based hedge fund, private equity and venture capital firm reportedly believe Xi’s ongoing control means China’s zero-COVID policy will likely remain in place and that geopolitical tensions could increase—two factors weighing on the country’s economic growth. (The Wall Street Journal)
Innovation, Science and Economic Development Canada said Wednesday the Chinese firms Sinomine (Hong Kong) Rare Metals, Chengze Lithium and Zangge Mining Investment must divest from Vancouver-based Power Metals, Calgary-based Lithium Chile, and Vancouver-based Ultra Lithium, respectively. (The Logic)
The Montreal-based payments provider reported third-quarter revenue of US$197.1 million, up seven per cent from a year earlier. The volume of transactions it processed increased 30 per cent for the period. Net income, however, dropped 54 per cent to end the quarter with US$13 million in profit. Its shares were up 4.46 per cent in afternoon trading. (The Logic)
The Ottawa-based commerce company wants to work with the Delaware-based connector of digital wallets and apps “to help push commerce into the Web3 era,” said Hooman Mehranvar, Shopify’s corporate development lead, in a statement. Other investors include Coinbase Ventures, Polygon and Foresight Ventures. (The Logic)
The acquisition will allow the password-management company to build tools for managing passkeys, an alternative to passwords, according to a release. 1Password declined to disclose the financial terms of the deal to The Logic. (The Logic)
Listed No. 15 this year, Canada has become less competitive in attracting and developing talent, falling behind countries like Iceland and Germany, according to an annual index by the international graduate business school INSEAD. (The Logic)
Despite higher operating revenue compared to the same quarter last year and more new activations for its broadband services than ever, BCE’s net earnings declined from $813 million to $771 million. (The Logic)
Support workers in many Ontario schools are ready to defy a provincial law that uses the notwithstanding clause to bar them from striking, the Canadian Union of Public Employees said, and several large school boards told parents to prepare for a return to virtual classes. (The Logic)
A $6.4-million loan for a new wastewater plant on the 1,500-member shíshálh Nation northwest of Vancouver will mean connections for 88 buildings now on septic systems, the Canada Infrastructure Bank said. (The Logic)