Ottawa launches a home-building blitz. Prime Minister Mark Carney launched Build Canada Homes, a new federal agency designed to fast-track and fund more affordable housing units across the country. The idea behind the agency is that by cutting red tape, unlocking public land, and offering up government investments, the feds can get the housing train moving a little faster. We only need 5.8 million new homes by 2030, so it should be a walk in the park. (September 15 Edition)
TikTok ban averted. After briefly being taken offline for Americans, ByteDance and the White House cut a deal to keep the TikTok feed flowing into the eyeballs of American users. The group taking over TikTok’s U.S. operations will be led by Oracle, Silver Lake and MGX, which will each own 15% of the new venture. (September 16 Edition)
OpenAI ditches its non-profit structure to form $500 billion business. The AI startup finalized a deal that split the organization into separate non-profit and for-profit wings, a restructuring that will allow it to eventually file for an IPO. In a fight to stay atop one of the most competitive and capital-intensive industries in the world, OpenAI’s original do-good mission has taken a backseat to survival. (October 29 Edition)
Quebec declares the Northvolt battery plant dead. Months after the Swedish firm filed for bankruptcy, the provincial government (finally) cut its losses on the EV battery facility, declaring it would not put any more cash behind the project. It was a costly misfire for the Quebec government, but the sale of the land set aside for the plant could recoup a big chunk of its investment. (September 3 Edition)
Canada Post ordered to end home delivery. After losing $1.3 billion last year, the Crown postal service was directed by the federal government to end its home mail delivery service, close some of its rural post offices, and stop delivering letter mail daily. Canada Post has not been the model of a profitable business for a long time, but Ottawa decided it was time to stop spending billions to subsidize its operations. (September 26 Edition)