Canada lost 40,000 jobs and the unemployment rate increased 0.5 percentage points to 5.4 per cent, Statistics Canada reported, with most of the losses recorded in the public sector. It’s the first time since May 2020 that an increase in unemployment hasn’t coincided with new government-imposed measures meant to fight COVID-19. (The Logic)
Digital platforms are causing harm and need to be accountable for it, the White House said in announcing principles for reforming the sector aimed at increasing the authority of regulators, the vibrancy of competition and the power of individual users. (The Logic)
Toronto-based Aquila, a subsidiary of Constellation Software, said Cibar would continue to operate as an autonomous business unit within the company. The terms of the deal weren’t disclosed, and a spokesperson for Aquila didn’t immediately respond to a request for comment. (The Logic)
The world’s largest private asset manager said it was “disturbed by the emerging trend of political initiatives that sacrifice pension plans’ access to high-quality investments,” saying its own ESG priorities ultimately “generate better long-term financial outcomes.” It was responding to an earlier letter from 19 U.S. attorneys general who alleged that BlackRock uses investor money to pursue ESG strategies that “circumvent the best possible return on investment.” (The Logic)
With the death of the Queen, the former Prince Charles has become king of the United Kingdom, Canada and 13 other realms. He brings with him decades of public statements on public issues, including environmental policy, that could put him at odds with the U.K.’s elected government. (The Logic)
Six users of the cryptocurrency mixer that facilitates anonymous transactions on the Ethereum blockchain are challenging the United States Treasury Department’s decision last month to sanction the service. (The Logic)
The Toronto-based gaming entertainment company said the partnership focuses on EV.IO, a first-person shooter game where users earn cryptocurrency rewards. It also establishes Coinbase, the largest U.S. cryptocurrency platform by volume, as the “preferred infrastructure provider” for its portfolio of Web3-enabled games. (The Logic)
Telus Ventures, BMO Financial Group, Alberta Enterprise Corporation and Investissement Québec are returning investors from Panache’s first fund. Ontario Capital Growth Corporation has joined as a new investor, along with several entrepreneurs, executives and family offices. (The Logic)
The Vermont Department of Financial Regulation’s filing alleges the beleaguered crypto lender was effectively insolvent as early as 2019, misled investors about the state of its finances, and “probably” used the assets of existing investors to pay yields to new investors. (The Logic)
The Canadian auto-parts maker said on Wednesday it would build thousands of autonomous-delivery robots for Cartken, which operates the small self-driving vehicles in areas like malls, universities, hotels and warehouses. (The Logic)