The new business unit, GM Energy, will offer a home energy system with batteries for electric vehicles, solar panels and home energy storage, and is planning to offer software to help customers manage energy consumption and to work with utility companies Pacific Gas and Electric Company, Con Edison and New Hampshire Electric Cooperative. The automaker said it plans to expand the U.S. business into Canada and other markets. (The Logic)
In an update published Tuesday, CEO Tracey Black wrote that pushing back the delivery date will give the non-profit and its vendors time to “validate and test the components and end-to-end integration” of the system, which will update the technology the country uses for payments, letting financial transactions be settled almost instantly. Payments Canada is working “to replan and confirm a revised launch date, which we will share publicly once confirmed,” Black said via email. (The Logic)
Most of the cryptocurrency market should be subject to the same rulebook that governs traditional finance, the Financial Stability Board (FSB), an international standards-setter, said in a proposed framework it published Tuesday. (The Logic)
For $5.75 million, Well is getting CloudMD’s software package for electronic medical records and billing, plus three brick-and-mortar medical practices in the Vancouver area. (The Logic)
Chrysler’s parent company said it’s aiming to make more than €2 billion in revenues by 2030 from a unit focused on the “circular economy,” including expanding a used auto-parts e-commerce website called B-Parts into North America. Its new “SUSTAINera” line will also label parts that have waste savings of up to 80 per cent and energy savings of 50 per cent. (The Logic)
The South Korea-based electronics giant estimated that its third-quarter operating profit fell to 10.8 trillion Korean won, down from 15.82 trillion Korean won in the same period last year, ahead of releasing its fully finalized quarterly report on Oct. 27. (The Logic)
Iranians are using virtual private networks to circumvent Tehran’s internet censorship amid mass protests across the country. The increased demand for VPNs—which encrypt internet traffic and disguise a user’s identity—peaked at 3,082 per cent between Sept. 22 and Oct. 4, compared to the 28 days prior, according to data from Top10VPN, a reviews site for such services. (The Logic)
Changpeng Zhao, the Chinese-Canadian CEO of the world’s largest cryptocurrency-trading platform by volume, confirmed a coordinated shutdown of the blockchain network Binance Smart Chain following the hack. Blockchain data suggests the hacker targeted US$570 million worth of tokens, but Zhao estimated about US$100 million was ultimately affected. (The Logic, CoinDesk)
The Ottawa-headquartered company has committed to report merchants that pressure-sell, hide costs, offer counterfeit products and engage in other illegal practices to national consumer authorities, and take down any such stores identified by regulators, the European Commision (EC) said. Shopify has also updated its terms of service to require clients publish contact information, a refund policy and order-fulfillment times. Shopify did not respond to a request for comment. (The Logic)
Canada’s economy added 21,000 jobs last month but the country had 92,000 fewer people working than in May after a summer of ebbing employment, Statistics Canada reported. The unemployment rate dipped to 5.2 per cent, down 0.2 points, but the main reason for that was fewer jobless people reported looking for work. (The Logic)