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Federal government advised to pause Twitter ads after mass layoffs at company

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A media and marketing agency that is responsible for buying and planning much of the government’s advertising has advised federal departments to pause activity on Twitter, citing mass layoffs at the company.

Cossette, which is the government’s “media agency of record,” issued guidance Friday to “pause activity immediately and monitor the situation over the weekend” due to “unknown continuity plans for moderation” and a “heightened risk of brand safety,” according to an internal document seen by CBC News.

Cossette helps with “media planning and strategizing, media buying, ad serving and trafficking, ad verification, reporting and reconciliation services, to support a variety of government initiatives.” It works with numerous government agencies and departments.

Twitter recently laid off 50 per cent of its staff following a takeover by Elon Musk who, as the head of electric vehicle maker Tesla and rocket company SpaceX, has become the richest man in the world.

Twitter’s head of safety and integrity, Yoel Roth, tweeted Friday that only 15 per cent of the team responsible for moderation and safety was affected and “our core moderation capabilities remain in place.”

Musk similarly stated that “strong commitment to content moderation remains absolutely unchanged.” Twitter has not responded to a request for comment from CBC News.

Cossette’s guidance said the layoffs prompted increased concern about the effectiveness of Twitter’s moderation and brand safety — which essentially means ensuring that advertising placed next to content does not negatively impact the reputation of the advertiser.

Cossette also noted that the U.S. midterm elections will be held Tuesday, resulting in “a lot of focus on the platform for abuse.”

The federal government spent over $3 million on Twitter ads through Cossette from 2020 to 2021, according to its most recent annual report.

Numerous major companies have pressed pause on advertising on Twitter, including General Mills, General Motors, Pfizer and Volkswagen.

Musk has responded by calling out what he described as “activist groups” pressuring advertisers to drop Twitter, accusing them of “trying to destroy free speech in America.”

Musk has said Twitter has already experienced a “massive drop in revenue,” after claiming layoffs were necessary because Twitter was losing $4 million per day.

Public Services and Procurement Canada has not yet responded to a request for comment from CBC News.

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Suncor Energy pleads guilty to charges for 2019 injury on oil vessel off Newfoundland

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ST. JOHN’S, N.L. – Suncor Energy has been fined $90,000 after pleading guilty to two charges stemming from a worker injury in 2019 aboard its production vessel in an oilfield off the coast of Newfoundland.

In a news release Thursday, the province’s offshore oil regular said the company must also give $20,000 to the College of the North Atlantic’s health and safety management program.

The Canada-Newfoundland and Labrador Offshore Petroleum Board says Calgary-based Suncor pleaded guilty on Sept. 5 for failing to ensure the safety of its employees and failing to ensure its employees wore a safety harness attached to a lifeline while inside a confined space.

The board says a worker fell 7.6 metres from a safety ladder while testing for hydrogen sulfide in a ballast tank on the floating production and storage vessel in the Terra Nova offshore oilfield.

An agreed statement of facts says two emergency response workers then went into the tank to tend to the fallen man, and they were not wearing gas masks.

Suncor Energy is the majority owner of the Terra Nova oilfield, and it reported net earnings of $1.57 billion in the second quarter of this year.

This report by The Canadian Press was first published Sept. 17, 2024.

The Canadian Press. All rights reserved.

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TD Bank announces new co-heads of U.S. commercial banking business

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Toronto-Dominion Bank has named new co-heads of its U.S. commercial banking business.

TD says Andy Bregenzer and Jill Gateman will jointly lead the operations.

The bank says the appointments follow the announcement earlier this year of Chris Giamo’s retirement.

Bregenzer will focus on leading all aspects of the regional commercial bank, including small business.

Gateman will lead TD’s national commercial banking effort in the U.S., including middle market, sponsor-backed finance and TD’s other specialty lending lines of business.

TD, which is working to resolve investigations into failures in its anti-money laundering program in the U.S., announced last week that chief executive Bharat Masrani would retire next year and be replaced by Raymond Chun.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:TD)

The Canadian Press. All rights reserved.

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Payments tech company Lightspeed Commerce conducting strategic review of business

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MONTREAL – Lightspeed Commerce Inc. says it is conducting a review of its business and operations including talks relating to a range of potential strategic alternatives.

The Montreal-based payments technology company made the comments after reports concerning a potential transaction involving the company.

Lightspeed says it periodically undertakes a review of its business and operations with a view of realizing its full potential.

A strategic review is often seen by investors as a prelude to a sale by a company.

Lightspeed says its board of directors is committed to acting in the best interests of the company and its stakeholders.

Company founder Dax Dasilva returned to the role of chief executive officer earlier this year and has been working to return the company to profitability.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:LSPD)

The Canadian Press. All rights reserved.

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