The Tokyo-based technology conglomerate will reduce its stake in the Chinese e-commerce giant from 23.7 per cent as of June 30 to 14.6 per cent as part of a settlement of financial contracts. (Bloomberg)
Quebec’s public pension fund manager committed US$75M in the California-based customer engagement platform, with participation from the Mumbai-based global asset manager IIFL AMC and existing investors Tiger Global and Sequoia India. (The Logic)
The Tesla CEO sold nearly eight million shares between Aug. 5 and Aug. 9. He said the transaction would help “avoid an emergency sale of Tesla stock” if he’s required to follow through on the US$44-billion deal to buy Twitter. (The Logic)
The Vaughan, Ont.-based company posted second-quarter revenue of $1.1 billion in sales and net income of $25.5 million, up from revenue of nearly $885 million and net income of nearly $24 million in the same period last year. (The Logic)
The company reported $26.5 million in revenue in its fiscal first quarter ending June 30, up 45 per cent year over year and an adjusted operating profit of $7.4 million, up from $6.2 million. The firm’s stock opened at $6.30 on the Toronto Stock Exchange, up 8.43 per cent from Monday’s close before it reported results. It closed Tuesday up just over one per cent. (The Logic)
The Vancouver-based social media management firm told The Logic that its headcount will be just over 1,000 after the layoffs, which are part of a restructuring strategy. The Globe and Mail first reported the news. (The Logic)
The Montreal-based payments provider said it has lowered the total volume of transactions, revenue and adjusted EBITDA for the year partly due to “higher volatility and lower volume in digital assets and cryptocurrencies, and a more cautious view of the macroeconomic environment.” Shares of Nuvei closed down nearly 21 per cent Tuesday. (The Logic)
The Montreal-based engineering giant will buy RPS Global, which specializes in consulting services like water and waste management, for about $3.21 per share. WSP shares closed down more than three per cent Tuesday. (The Logic)
Philippe Dufresne told the House ethics committee that he learned from media reports that the federal police force was using the technology, after Politico reported it in July. The RCMP is scheduled to brief the commissioner later this month. Dufresne was speaking at the House of Commons ethics committee on Monday. (The Canadian Press, Politico)
In a brief statement posted to Twitter on Friday, Schweitzer said he notified Alberta Premier Jason Kenney that he would be stepping down from cabinet, and will continue serving as MLA until around the end of the month. By-elections are typically called within six months of a seat being vacated; a provincial election in the province will take place no later than May 2023. (The Logic)