Chamber network calls for coordinated approach to reopening Ontario’s economy

The GNCC and the Ontario Chamber of Commerce have jointly appealed to the Premier of Ontario, asking for a predictable and coordinated effort to ensure society reopens in a harmonized fashion that prioritizes individual safety as well as economic stability.

Each region’s experience differs significantly across the province when it comes to transmission rates, tracking and tracing capacity, and other variables. With vaccines being deployed already, the Chamber network is looking forward to the day when the economy can be safely reopened.

“In the middle of a once-in-a-century pandemic, it is difficult to think beyond confronting the immediate demands of COVID-19,” said Mishka Balsom, the CEO of the GNCC. “However, even as we continue supporting each other today, we must also begin looking over the horizon to ensure businesses are prepared for the province’s reopening and recovery. It is never too early to start planning how our province and economy can emerge stronger while doing everything necessary to avoid further lockdowns.”

Minister McKenna sets new priorities for the Canada Infrastructure Bank

The Honourable Catherine McKenna, Minister of Infrastructure and Communities, has written to Tamara Vrooman, the newly appointed Chairperson of the Board of the Canada Infrastructure Bank with an updated Statement of Priorities and Accountabilities. This Statement sets out the Government’s expectations for the Bank’s activities across five priority areas: public transit, green infrastructure, trade and transport, broadband, and clean power.

The Canada Infrastructure Bank is currently implementing its Growth Plan, which aims to invest $10 billion over the next three years in strategic initiatives such as zero-emission buses, energy efficient building retrofits, agricultural irrigation, broadband, renewables and energy storage.

Government of Canada lists 13 new groups as terrorist entities

The Government of Canada has placed 13 new groups on the Criminal Code list of terrorist entities. Based on their actions, each group meets the legal threshold for listing as set out in the Criminal Code, which requires reasonable grounds to believe that an entity has knowingly participated in or facilitated a terrorist activity, or has knowingly acted on behalf of, at the direction of, or in association with such an entity. With these additions, there are now 73 terrorist entities listed under the Criminal Code. In 2019, Canada listed two ideologically motivated violent extremist groups: Blood & Honour and Combat 18.

The Criminal Code mandates severe penalties for people and organizations that deal with property or finances of a listed entity. A listing can also support the denial or revocation of a Canadian organization’s charitable status if it maintains connections to listed entities. Furthermore, persons seeking entry into Canada may be inadmissible if they are found to be associated with a listed entity. A listing also helps to facilitate the removal of an entity’s online content.

The new groups are:

• Atomwaffen Division
• The Base
• Proud Boys
• Russian Imperial Movement
• Jama’at Nusrat Al-Islam Wal-Muslimin
• Front de Libération du Macina
• Ansar Dine
• Islamic State West Africa Province
• Islamic State in the Greater Sahara
• Islamic State in Libya
• Islamic State East Asia
• Islamic State – Bangladesh
• Hizbul Mujahideen

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Amazon’s Jeff Bezos stepping down nearly 30 years after founding company

The Associated Press/CBC News

Amazon said Tuesday that Jeff Bezos is stepping down as CEO later this year, a role he’s had since he founded the company nearly 30 years ago. Amazon said he’ll be replaced in the fall by Andy Jassy, who runs Amazon’s cloud business. Bezos, 57, will then become the company’s executive chairman.

Bezos, who started the company 27 years ago as an internet bookseller, said in a note to employees posted on Amazon’s website, “As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”

Reddit revolution leaves market regulators with limited playbook — but Canadian watchdogs may have an edge

Barbara Shecter, Financial Post

Regulators around the world have been scrutinizing the recent social-media-driven surges in the stock prices of companies such as GameStop and AMC, but some securities industry veterans say there may be little they can do because the traditional rules of market oversight don’t apply.

That’s because the activity appears to have been inspired and led by voluntary groups of retail investors — empowered by new technologies that have expanded access to markets and emboldened by posts on social media sites such as Reddit — and not registered professionals.