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The Logic •

Exclusive: Humanoid robot startup Sanctuary AI is trying to raise more money

Vancouver-based startup Sanctuary AI is raising more money as it tries to develop humanoid robots powered by artificial intelligence, The Logic has learned.

In a Jan. 10 email to investors, chief financial officer Philip Smith wrote that the company was “undertaking a US$10 million convertible note offering in order to finance the company for fiscal 2025.” Sanctuary had found takers for 50 per cent of the offering, according to the email, and was asking existing shareholders to take the balance. The company hopes to close the offering by Feb. 28.
The Logic •

What happened when a small Canadian city collided with the alt-right

Alt-right conspiracy theories are creating chaos in the city of Pickering, Ont., as online and offline worlds collide—causing confusion for local residents and politicians.

On Dec. 30, the city’s mayor, Kevin Ashe, seemingly reached the end of his tether. In a remarkable video, complete with threatening music and fake film scratches that allegedly exposes mysterious figures targeting the city, Ashe announced that all council meetings would now be held online until further notice for security reasons.
The Logic •

The climate crisis is getting costly for Canada’s ski resorts

Skiers at Kelly Sinclair’s cross-country resort, Highlands Nordic, used to rely on natural snow to cover 30 kilometres of tree-speckled trails. Now they’re skiing in circles.
“We kind of feel like hamsters on a wheel, sometimes going around an 800 metre loop,” Sinclair said. But it’s all the resort can afford to make snow for, the 35-year old resort manager added
Warmer winters have reduced the number of days the resort in Duntroon, Ont.—15 minutes from the province’s largest ski town in Colling...
The Logic •

SRTX founder gets real: 'Sheertex is not profitable—not even close'

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The Logic •

Big Six banks post mixed Q4 results, brace for uncertain 2025

Canada’s big banks posted mixed results in their fourth quarter, with executives and analysts saying the lenders should prepare for 2025 with cautious optimism.
The country’s largest six banks were split on earnings beats and misses. CIBC, RBC and National Bank all topped analysts’ profit expectations, while TD Bank, BMO and Scotiabank disappointed.
Here’s what we learned about the Big Six this week:

Canada’s big banks posted mixed results in their fourth quarter, with executives and analysts s...
The Logic •

Cohere says the future of AI is smaller, not bigger

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The Logic •

How one bite of a macaron sparked Ladurée’s cross-country franchise

Olesya Krakhmalyova wasn’t planning to start a macaron empire. But then she tried the macaron—a delicate almond and meringue in the “orange blossom” flavour—at a Ladurée while on a trip to Monaco. That moment, somewhere between the soft crunch of the shell and the fragrant burst of filling, planted the seed for what would become her obsession: bringing the legendary French patisserie to Canada.










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The Logic •

The numbers behind Trump’s Canada tariff threat

TORONTO and MONTREAL — Just 43 pounds of fentanyl have been seized at the U.S.-Canada border since October 2023, compared to 21,000 pounds at the Mexican border in the same period, official data shows.
The data point is just one of many that help to contextualise Donald Trump’s threat to hit Canada and Mexico with a 25 per cent tariffs on all goods. The tariffs, which will also see China hit with a 10 per cent penalty, are supposedly being introduced to fight illegal migration...
The Logic •

A Canadian shawarma chain goes global with a big Bitcoin bet

A small Canadian shawarma chain has attracted praise from influential crypto figures for something off-menu: its business strategy of putting its entire cash reserves in Bitcoin.
Tahini’s, a Mediterranean-fusion shawarma chain founded in 2012 by two brothers in London, Ont., has developed a roster of unconventional shawarma flavours, like butter chicken and blueberry. The chain also began taking an uncommon approach to its finances in 2020, when it moved all its cash reserves into crypto. It’s a...
The Logic •

Exclusive: Sanctuary AI’s board pushed out CEO Geordie Rose

Vancouver robotics startup Sanctuary AI’s board of directors forced co-founder Geordie Rose out as CEO earlier this month, The Logic has learned, setting off a string of personnel changes at the company.

In an email obtained by The Logic, chief financial officer Philip Smith told investors that Sanctuary’s board decided to remove Rose as CEO and “separate him from the company.” The board has formed a search committee and is now working with a global search firm to find a replacement, the Nov. 9 email said. The email did not provide details on why Rose was ousted.
The Logic •

The dark comedy of Toronto’s sky-high housing prices

Home seller June places sharp, oversized metallic bugs around her gold-embellished Toronto residence. Her late father’s shiny and bizarre insect artwork was created to reflect the ugliness within—and does exactly that for onstage characters brawling over her house in a new Toronto play.

Playwright Michael Ross Albert’s The Bidding War, which premiered at Toronto’s Crow’s Theatre earlier this week, serves as a commentary on the competitive reality of the city’s sky-high real estate market. Tensio...
The Logic •

Canada’s ‘very silent’ IPO market may be poised to bounce back

Canada’s market for initial public offerings may be preparing for a comeback after a years-long dry spell, as industry insiders say the number of large companies looking to list is on the rise.
Montreal fashion retailer Groupe Dynamite launched its IPO earlier this week with a $2.3-billion valuation target, pricing its shares between $19 and $23. And it’s not the only Canadian firm that may be eyeing going public.

Canada’s market for initial public offerings may be preparing for a comeback afte...
The Logic •

Exclusive: Desjardins in talks with insurance companies for next acquisition, CEO says

The financial services and insurance firm is on the lookout for buying opportunities in the property and casualty insurance industry, as it continues to expand its growth across the country, chief executive Guy Cormier said in an interview with The Logic. “We have capital to deploy,” Cormier said. (The Logic)










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The Logic •

Mild winters are melting the rental property market in Canada’s ski towns

The snow-capped hills of Collingwood, Ont., were an ideal training ground for elite skier Natalie Knowles. She grew up five minutes from the slopes, and recalls a well-maintained ski experience that bred her love for the sport. 
Now, when the former Team Canada skier returns to visit her parents, the conditions there aren’t quite the same. Grass pokes through thin layers of snow, and spots of mud cake the slopes.
Bloomberg.com •

Condo 'Catch-22' Ensnares Toronto Real Estate Investors

Shemeer Ahmad is stuck with a condominium investment located near Toronto that’s losing hundreds of dollars every month.The entrepreneur purchased a two-bedroom apartment in 2019, as rents were rising and real estate seemed like a safe bet. Now, he’s losing around C$830 ($604) every month as high mortgage rates and other costs suck up more than what he receives in rent. He could sell — but he’s worried he would lose tens of thousands of dollars on it.

Shemeer Ahmad is stuck with a condominium i...
Bloomberg.com •

CIBC Plans Hiring Spree in Artificial Intelligence, Data Jobs

Canadian Imperial Bank of Commerce plans to hire more than 200 employees in data and artificial intelligence over the next year as it expands its use of generative AI.The country’s fifth-largest bank has carried out a number of pilot programs using generative AI and is adding staff in Canada to accelerate those efforts, Christina Kramer, the bank’s head of technology and innovation, said in a statementBloomberg Terminal.

Canadian Imperial Bank of Commerce plans to hire more than 200 employees i...
Bloomberg.com •

Record Maple Syrup Harvest Not Enough as Quebec Eyes Bigger Bounty

A record maple syrup harvest just isn’t enough for the world’s top producing region. Quebec — the source of 72% of the world’s maple syrup — is ramping up output to not only quench global appetites for the pancake topper, but also to replenish depleted stockpiles that are set aside to protect Canadian farmers against bad harvests in a volatile industry.

A record maple syrup harvest just isn’t enough for the world’s top producing region.

Quebec — the source of 72% of the world’s maple syrup — i...
Bloomberg.com •

A Third of Canadian Rockies Town Jasper Is Destroyed by Wildfire

The extent of the devastation from the wildfire that swept through Alberta’s resort town of Jasper is starting to emerge, as fire crews continue to fight the massive blaze that has engulfed the iconic national park in the Canadian Rockies.The inferno destroyed about 30% of the town, with 358 of 1,113 structures burned down, Jasper National Park said Friday in a statement. All critical infrastructure has been protected, though, including the hospital, emergency services building, schools, activit...
Bloomberg.com •

Rainfall to Alleviate Wildfire That Blazed Canada Rockies

Rainfall is expected to bring some relief to a fast-moving wildfire that ripped through the Rocky Mountain resort town of Jasper, destroying homes and businesses and threatening key infrastructure in the evacuated Alberta community.The area saw cooler temperatures and 10 to 15mm (0.6 inches) of rainfall shortly after midnight local time, Jasper National Park said in an update on X, formerly Twitter. That should help keep fire activity low for the next 72 hours.

Rainfall is expected to bring som...
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Our Still World: high school food blog (2019-2020)

https://ourstillworld.weebly.c...