Organizations that use machine-learning algorithms to help with decisions need to be on guard against hackers who are able to spoof them with bad data, the Communications Security Establishment warned in a new report. Digital currencies with poor security and misleading deepfakes polluting public discourse are other new threats, and quantum computing that can smash traditional cryptography methods is a worry on the horizon, according to the national cybersecurity agency. (The Logic)
Winnipeg-based Broadband Communications North (BCN) will provide broadband service to the northern Manitoba community. Ottawa-headquartered Rock Networks, a Canadian distributor for OneWeb’s low-Earth orbit (LEO) satellite constellation, will build the link-up. (The Logic)
In the largest oil-sands transaction in years, Teck sold its 21.3 per cent stake in the Fort Hills project to Calgary-based Suncor Energy, which now owns 75.4 per cent of the operation. (The Logic)
Facebook’s parent company posted third-quarter net income of about US$4.4 billion, a 52 per cent drop from the same period in 2021. Its shares closed down about 25 per cent Thursday. (The Logic)
The U.S. federal government’s Clean School Bus program announced US$913.1 million in rebates to replace 2,500 school buses with low- or zero-emissions models this year, including 207 so far made by the Quebec-based EV company. (The Logic)
Claudette McGowan, former global executive officer for cybersecurity at TD Bank, launched the Toronto based startup this month. BKR Capital, which invests in Black entrepreneurs, led the seed round. Firehood Angels also invested, along with MaRS chair and NRSTor CEO Annette Verschuren and Wealthsimple Foundation CEO Leen Li. (The Logic)
The Telus spinoff said the deal for the Virginia-based digital-product maker will include assuming US$210 million of debt and is expected to close this coming January. (The Logic)
The Tesla and SpaceX CEO tweeted a statement saying he wants the social media company to “be the most respected advertising platform in the world,” and that he’s buying it to be “a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.” The US$44-billion deal is supposed to close Friday. (The Logic, The Wall Street Journal)
Resilia, a SaaS firm with offices in New Orleans and New York, helps non-profits manage and report their finances, and connects funders with groups they want to support. Other investors in the round included co-lead Panoramic Ventures, as well as SoftBank Group’s SB Opportunity Fund and Goldman Sachs Asset Management Fund. (The Logic)
Tiger Global Management led the round for the SaaS startup, which also included participation from Sequoia Capital India and DST Global Partners. (The Logic)