Meta confirmed to The Verge that it’s testing a feature called IG Candid that asks users to share a photo within a two-minute window at different times during the day. A spokesperson said the feature is “an internal prototype.” (The Verge)
The social network allegedly violated the terms of a settlement with the U.S. Federal Trade Commission by saying it had a solid security plan, according to a whistleblower complaint filed last month by the company’s former head of security. (The Washington Post)
The car companies have reached agreements with Canada that will guarantee their access to raw materials needed for battery production, including nickel, cobalt and lithium. A source within the federal government told The Logic the companies will sign memorandums of understanding in Toronto on Tuesday, with Prime Minister Justin Trudeau and German Chancellor Olaf Scholz in attendance. The source did not disclose the terms of the deals, which were first reported by Bloomberg. (Bloomberg, The Logic)
Emmertech led the funding in the agtech company, with participation from the Business Development Bank of Canada, Export Development Canada and Urbana Corporation, among other backers. Silicon Valley Bank also provided debt financing. (The Logic)
The company will lay off roughly 2,000 salaried and 1,000 contract workers, mostly in the U.S. but also in Canada and India, as it looks to spend US$50 billion on electric-vehicle manufacturing. (The Wall Street Journal)
The U.K.-based movie theatre chain has been in contact with lawyers to file Chapter 11 bankruptcy protections in the U.S. and is considering a similar insolvency proceeding in the United Kingdom. Cineworld shares dropped Friday after The Wall Street Journal first reported the news. (The Wall Street Journal)
The e-commerce and cloud-computing giant isn’t the only suitor for U.S.-based Signify, which offers a platform for health data and analytics and in-home diagnostic tests and evaluations. Others include pharmacy chain CVS, insurance company UnitedHealth Group and intravenous medicine service Option Care Health. (The Wall Street Journal, Bloomberg)
Four out of five people said they’ve cut back on discretionary spending, put off major purchases, driven less or made other changes to save money as prices have risen, an Angus Reid Institute poll found. Thirty-nine per cent told the pollsters they have too much debt and 76 per cent are stressed about money. (The Logic)
In a court filing Thursday, the trustee overseeing the beleaguered crypto lender's bankruptcy proceedings asked a judge to appoint an examiner, who would investigate Celsius's "business model, their operations, their investments, their lending transactions, and the nature of [their] customer accounts" to "neutralize the inherent distrust" creditors and other parties have in the firm. (The Logic)
The parent company of CTV said it will initiate an independent workplace review after backlash over its dismissal of the chief anchor and journalist. It announced the move in a statement signed by Bell Media president Wade Oosterman and Karine Moses, senior vice-president of content development and news, adding that it has always taken matters of discrimination “very seriously.” (The Logic)