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TD probe revolves around U.S. drug trafficking case

For well over a year, Bay Street wondered what TD had done to find itself at the heart of a U.S. money laundering probe. After a long, mysterious wait, we’ve got some answers. 

Driving the news: A U.S. Justice Department probe into TD Bank is reportedly tied to the drug trafficking operation of a Chinese crime group that laundered at least US$653 million in profits from the sale of illegal narcotics, including fentanyl, at U.S. banks.

Wegovy comes to Canada

After filling doctors' prescription pads in the U.S., Wegovy is taking its talents north of the border. 

Driving the news: Novo Nordisk’s weight loss drug Wegovy will be available in Canada starting today, a move that will relieve the high demand for Ozempic, a sister drug also owned by Novo, and boost Canadians' access to both treatments. 

What to do this weekend

Canadian cows aren’t sick with bird flu — yet

If you feel stressed about your job, remember that dairy farmers are hoping that their cows don’t have a disease that’s named after a different animal.

Driving the news: After dozens of cows in the U.S. tested positive for H5N1 — a dangerous form of bird flu — lactating dairy cows coming from the U.S. must now test negative for the virus. Last year, Canada imported 5,845 dairy cattle from the U.S.

This Dutch city wants to pay off poor families' debts

One city in the Netherlands is trying out one weird trick to alleviate the debt of its downtrodden citizens: paying it off for them. 

Driving the news: The Dutch city of Arnhem is launching an unorthodox debt cancellation pilot. Over the next two years, four different charities will cover the debts of 40 to 60 of the city’s poorest families, no strings attached, with the government only paying for project costs.

Sanctuary AI sets its sights on the future of robotics

A Canadian startup could be making your new robot coworker (eventually).

Explain It Like I'm Five: Audio data compression

What is audio data compression?

To turn music into a digital file, the sound wave is turned into data. The resulting files often leave out finer audio details but are smaller, which was important when people stored their music on a computer hard drive or MP3 player.

AI isn’t the only way tech companies are making money

Some tech companies have found a novel strategy for success: selling stuff.

Alberta is calling… again

Alberta is learning that — while putting out an open invite is fun — sometimes you want to be more picky about who you have over.

What happened: Alberta launched the third phase of its Alberta is Calling campaign, which successfully lured in throngs of workers with its siren song (read: tax incentives and lower cost of living).

Canadian carbon capture project bites the dust

As one Canadian company has learned the hard way, taking carbon out of the atmosphere is easier said than done.

What happened: Alberta’s Capital Power is scrapping its $2.4 billion carbon capture project, one of the largest in Canada. The decision to pull the plug for financial reasons is another red flag about the long-term viability of carbon capture.
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