Al Monaco to step down as Enbridge CEO
He will retire as the head of North America’s largest energy-infrastructure company at the end of the year, and will be succeeded by current board member Greg Ebel. (The Logic)
He will retire as the head of North America’s largest energy-infrastructure company at the end of the year, and will be succeeded by current board member Greg Ebel. (The Logic)
The Intel-owned self-driving car company will list shares on the Nasdaq under the ticker “MBLY” for a yet-to-be-determined price. Bankers involved in the deal told Bloomberg in September that it could be worth as much as US$30 billion. (The Logic, Bloomberg)
The reality star and entrepreneur agreed to the settlement after the U.S. Securities and Exchange Commission found she failed to disclose that she made an Instagram post promoting a crypto token called EMAX in exchange for US$250,000. (The Logic)
The Toronto-based asset management firm has committed an initial US$500 million through its renewable energy fund for LanzaTech to build and operate new projects. The Illinois-based firm’s technology removes carbon from emissions and converts it into sustainable products like fuels and fabrics. (The Logic)
Alex Mashinsky withdrew the money weeks before the Caisse de dépôt et placement du Québec-backed company froze customer accounts, preventing retail investors from accessing their savings, the Financial Times reported citing people familiar with the matter. (Financial Times)
The world’s most popular search engine shut down its translation service in mainland China, citing low usage. Google Translate’s China website now redirects traffic to the Hong Kong site, which is blocked in the mainland. (CNBC)
The Toronto-based asset management firm is acquiring wind and solar firm Scout Clean Energy for US$1 billion and Standard Solar for US$540 million. It may invest another US$510 million in the pair of companies to help them scale. (The Logic)
The agreement is for $70 million up front, plus research and development funding, but could bring up to $633 million more in future milestone payments and royalties. Ventus, whose CEO was chief medical officer at OxyContin-maker Purdue, raised $140 million earlier this year in a round co-led by SoftBank. (The Logic)
Roblox players can run through a Tim Hortons obstacle course made up of spinning bagels and flying Timbits boulders while carrying a tray in the Restaurant Brands International-owned chain’s first metaverse experience. (The Logic)
The Vancouver-based crypto company will offer investors fractional stock trading through Bitbuy, the crypto-trading platform it bought in March, through a partnership with fintech software developer AlpacaDB. (The Logic)