The city council has given municipal staff three weeks to write a bylaw that would impose a moratorium on compute facilities. Proponent councillor Nrinder Nann said the measure would give Hamilton time to assess data-centre impacts and its own rules on energy, water, heat and noise. (CBC)
BDC Capital and Northleaf also joined the round for the Toronto fintech, as well as existing investors Goldman Sachs Alternatives and Garage Capital. Float, which provides prepaid corporate credit cards and other financial products to small and medium-sized businesses, plans to use the money to expand across the country, hire staff and develop AI software. (The Logic)
British Columbia Investment Management Corporation returned 6.7 per cent in the fiscal year ended March 31, missing its 7.6 per cent benchmark. It ramped up its investments in private markets, despite their mixed performance. (The Logic)
Uncertainty over the North American trade pact is weighing on business confidence, says the latest quarterly outlook from Deloitte, as firms remain in wait-and-see mode before investing. (The Logic)
The Toronto-based legaltech company said that its CEO George Tsivin was no longer in his post or serving on the board, effective immediately. Former executive Proud will co-chair the committee that will assume Tsivin’s responsibilities for now, as the board searches for a permanent chief executive. (The Logic)
Speaking to reporters in Paris on Tuesday, Bank of Canada governor Tiff Macklem said easing capital requirements for Canada’s largest banks is unlikely on its own to spur lending or economic growth, and that businesses must first be willing to invest. (The Logic)
The national push to advance major projects, develop new infrastructure, increase defence spending and connect the North will create new opportunities, Kieran Hawe said at SiteSummit in Toronto on Wednesday. But “there is going to be a shortage of labour,” he warned, and if the construction industry doesn’t address it, “we won’t be able to deliver that work.” (The Logic)
The prime minister was barred from weighing in on the government’s recently released nuclear energy strategy, a $3.1 billion cash injection for the Canada Mortgage and Housing Corporation and more than a dozen other policy decisions to avoid potential conflicts related to his past business dealings. (Toronto Star)
Formal consultations will begin on whether to designate three projects for special treatment under the federal Building Canada Act, a squad of federal ministers announced in Yellowknife. The Mackenzie Valley Highway, Grays Bay road and port project and a permanent nuclear waste repository northwest of Thunder Bay could all be officially listed for streamlined regulatory approvals by the autumn. (The Logic)
Canada was home to 17,590 ultra-high-net-worth individuals whose collective wealth amounted to US$2 trillion last year, according to the latest annual report on the super-rich by Altrata. The double-digit growth in Canada was about one percentage point higher than in the United States. (The Logic)