Shailesh Prakash led the product, design and technology teams at the newspaper, which he originally joined in August 2011. He will become Google’s vice-president and general manager of news in November, Washington Post publisher Fred Ryan announced on Wednesday. (The Logic, The New York Times)
The early-stage companies chosen for the prestigious startup accelerator include Alt Tex, which makes textiles from food waste; Lancey, an interactive product demo platform; and KemNet, which reformulates popular drugs for specific patients. (The Logic)
The massive software company is the first known U.S.-based investor in CloudKitchens, a “ghost kitchen” startup, according to the Financial Times. The investment was part of a US$850-million funding round that closed in November 2021, valuing the company at US$15 billion. CloudKitchens also hired former Amazon executive John Curran as chief financial officer. (Financial Times)
Judging that Canada’s economy is still in “excess demand” and needs further chilling to reduce inflation, the central bank increased the target for its trend-setting overnight rate to 3.25 per cent. (The Logic)
Pornhub had over 13 million followers and 6,200 posts before the Meta-owned photo platform removed its profile last week. Meta didn’t provide comment to The Logic before publication time. Pornhub’s Twitter and YouTube accounts remain active. (Variety)
The country’s Data Protection Commission imposed its biggest penalty ever over previous default settings that made minors’ posts public and revealed personal contact information for teen users with business accounts on the photo-sharing network. (The Irish Times)
The Calgary-based oil-sands producer said Air Products, a U.S. industrial gas and chemicals company, will provide about half of the hydrogen feedstock needed for its proposed plant near Edmonton. Imperial plans to produce around three million litres of so-called “renewable diesel” per day—using a mix of hydrogen and vegetable oils—when the facility comes online in 2024. (The Logic)
When trading begins Sept. 19, the maker of pharmaceuticals, medical devices and personal-care products will be off the list of Canadian companies with big market capitalizations. It’s being replaced by Tourmaline Oil, a major oil and natural-gas producer. (The Logic)
The Cupertino, Calif.-headquartered firm currently has 211 open positions in its ad platforms division, in which 276 staff currently work, according to LinkedIn data. Investment bank Evercore ISI estimates Apple will make US$5 billion in ad revenue in 2022, growing to US$30 billion in 2026. (The Logic, Financial Times)
The San Francisco-based internet-hosting and -security firm said Saturday it blocked the online forum known for hateful content, amid increasing harassment on the site, particularly towards transgender YouTuber and Twitch streamer Clara Sorrenti. “Over the last two weeks, we have proactively reached out to law enforcement in multiple jurisdictions highlighting what we believe are potential criminal acts and imminent threats to human life that were posted to the site,” CEO Matthew Prince said in a blog post. (The Logic)