thelogic

RBC’s AI chief sounds the alarm over AI agents

Royal Bank of Canada’s head of AI says the lender is concerned about AI agents accessing customer accounts and moving money on their behalf, adding that the firm will not let the likes of Meta’s Muse ...
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National Bank CEO warns AI alone won’t give banks a lasting edge

Amid an ambitious expansion plan, Laurent Ferreira says AI will mean banks face more intense competition and slimmer retail banking margins ...
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Canada and Ontario commit over $5B to support tariff-hit steel sector

Prime Minister Mark Carney pledged nearly $3.6 billion over five years to help steel firms upgrade their equipment to make more of the products Canadian companies would otherwise import for defence, ...
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Canada-U.S. trade war to reduce real GDP by 1.4% over 2024 levels after five years: PBO

Employment could also decline by an estimated 185,000 jobs over that period if both the U.S. tariffs and Canada’s retaliatory ...
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AI is pushing insurers to become asset managers, Canadian CEOs say

With artificial intelligence restructuring “all of the economy,” insurers are becoming in-demand asset investors, as deal ...
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U.S. banking regulator accuses TD and BMO of discriminating against conservative clients

The Office of the Comptroller of the Currency (OCC) included the Bank of Montreal and TD Bank among nine banks accused of ...
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Data centre infrastructure firms 3C and Datalec merge, plan Calgary expansion

Steve Walton, CEO of Calgary-based liquid-cooling company CoolIT Systems between 2020 and 2024, founded 3C, which provides ...
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Oil tycoon Adam Waterous aims to build new Canadian energy player with US$1B fund

The chief executive of private equity firm Waterous Energy Fund and chair of Strathcona Resources says he plans to begin marketing soon for a new fund that would invest all its capital in a single oil ...
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Brookfield’s new CEO flexes the firm’s soft power with its $50B Canadian bet

As Brookfield plans to double its core earnings in the next five years, its $50-billion partnership with the Canada Pension Plan Investment Board signals how the new CEO of its asset management arm, ...
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With a $20M contract for NordSpace, Canada’s military backs a second domestic launch site

The 10-year deal guarantees the Department of National Defence access to NordSpace’s launch facility in St. Lawrence, N.L., though any actual launches will cost extra. Earlier this year, the ...
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Hackers will see cars as major targets in next three years, 83% of car-tech workers say

Waterloo, Ont.-based BlackBerry said its global survey of 1,100 software developers at automotive companies found that security threats were their top concern for the future of the industry, above ...
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Events software firm Hive raises US$27M from Frontier Growth

Most of Frontier’s investment in the Kitchener, Ont.-based company came from buying secondary shares from Avenue Growth Partners, which led Hive’s US$7 million raise in 2023. The latest round also ...