A Crucible Moment, Now With Pink SlipsSnap is cutting roughly 16% of its global workforce — around 1,000 full-time employees — and CEO Evan Spiegel isn’t being subtle about why. In a memo sent to staff on Wednesday and included in a regulatory filing, Spiegel pointed directly to artificial intelligence as the enabler that makes…
Industry Minister Mélanie Joly wants to see Finnish multinational Nokia invest more in Canada. Joly made the desire known in a fireside chat with Finland’s president, Alexander Stubb, on Wednesday morning as part of a business forum at Nokia’s Ottawa facility. “We’re not yet at the golden age of the Canada-Finland relationship … but we…
Wealthsimple is making it easier for X users to trade stocks on its FinTech platform, directly from their social media feeds. “What’s been missing is the bridge between conversation and action.” Brett HuneycuttWealthsimple On Tuesday evening, the Toronto FinTech company announced an integration on Elon Musk’s social media platform, X, that guides users to make…
The Canadian Investment Regulatory Organization (CIRO) ordered a trading halt to Xanadu ($XNDU) stock late Wednesday morning after the recently public company saw its share price briefly spike more than 60 percent. CIRO said in a statement that the temporary halt was issued due to a “single stock circuit breaker,” which occurs when an individual…
Kepler Communications’ technology will soon play a leading role in the European Space Agency’s mission to enable real-time space communications. Kepler is the first Canadian company chosen as a prime contractor on an ESA project. The Toronto spacetech company was awarded 18.6 million euros ($30 million CAD) to be the prime contractor for the European…
Cohere chief AI officer Joelle Pineau says the Toronto-based AI company intends to remain headquartered in Canada. “I want to be unambiguously clear: Canada is our home and we will always remain headquartered here,” Pineau, who joined Cohere last summer, wrote in a post to X on Tuesday. “As I shared in my testimony, I…
BY THE OPTIMIST DAILY EDITORIAL TEAM You’ve arranged the furniture. You’ve put up the art. The room looks fine. But it still feels a little off, heavy or flat, like you can’t quite settle into it. The fix might not be another trip to the store. “Most people spend all their time on furniture and…
BY THE OPTIMIST DAILY EDITORIAL TEAM When 15 Girl Scouts in Pilot Mountain, North Carolina, gathered to watch the Artemis II launch, troop leader Heather Willard wasn’t sure how captivated they’d be. Then the rocket lifted off. “All of the girls were mesmerized,” she said. Across the country, the same thing kept happening. For ten…
Toronto-based FinTech startup Common Wealth, which provides workplace retirement plans to small and mid-sized employers (SMEs), has closed $12 million CAD in Series A financing. The equity round saw participation from the Broadbent Group, Good & Well, AgeTech Capital, Deokali Capital, Eventi Capital Partners, and Flow Capital. Common Wealth’s other investors include ex-Healthcare of Ontario…
What’s your mother’s maiden name? Your high school mascot? Do you remember your childhood dog’s nickname? If you’ve ever called a service desk, chances are you’ve been asked at least one of these questions to verify your identity. And while you might know the answers, the problem is, according to TechJutsu, that most anyone else…
