Connect with us

Business

Rare diamond found in Canadian mine fetches $20.9M at auction

Published

 on

HONG KONG, CHINA —
An exceedingly rare 102-carat flawless white diamond sold for nearly $20.9 million at an online auction in Hong Kong on Monday evening.

Described as “completely flawless” by auctioneer Sotheby’s, the 102.39-carat stone went to an unnamed telephone bidder for HK$122 million in an auction held online because of the coronavirus pandemic.

“The buyer of this diamond has bagged a bargain,” said Tobias Kormind, managing director of online jeweller 77 Diamonds.

During a time of economic uncertainty, he said, “savvy investors are currently falling over themselves to acquire alternative safe haven assets like diamonds, property and gold”.

Only seven other white diamonds bigger than 100 carats and of the same quality have ever gone under the hammer.

The stone was sold without a reserve price, meaning the diamond went to the highest bidder and did not need to meet a minimum threshold, the first time in auction history that a diamond of this calibre has been offered that way.

The tactic can be risky but can also generate a buzz that sellers hope will elevate the final price.

In this case, the seller’s move was “a brave decision that has come back to bite them”, according to Kormind.

Originally a 271-carat rough stone, the gem was discovered in the now-closed Victor Mine in northern Ontario in 2018.

“(The) diamond is the best of the best when it comes to exceptional white diamonds and it is difficult to overstate its rarity and beauty,” said Sotheby’s worldwide jewellery chairman Gary Schuler ahead of the sale.

In November 2017, the largest diamond ever presented at auction, with more than 163.41 carats, sold in Geneva for more than $33.8 million, fees and commissions included — a global record in this category.

But it is not a record overall for a diamond: in April 2017, the giant “Pink Star” pink diamond sold for $71.2 million at a Sotheby’s auction in Hong Kong.

Source: – CTV News

Source link

Business

Shoppers' privacy violated at major Canadian malls: Privacy commissioners – CBC News: The National

Published

 on


[unable to retrieve full-text content]

  1. Shoppers’ privacy violated at major Canadian malls: Privacy commissioners  CBC News: The National
  2. Cadillac Fairview collected millions of images of shoppers at malls across Canada: Privacy watchdog  CP24 Toronto’s Breaking News
  3. Cadillac Fairview secretly collected personal information from 5M shoppers across Canada: privacy commissioners  KitchenerToday.com
  4. Mall real estate company collected 5 million images of shoppers, say privacy watchdogs  CBC.ca
  5. Cadillac Fairview collected 5 million shoppers’ images without consent  Yahoo Canada Finance
  6. View Full coverage on Google News



Source link

Continue Reading

Business

Man rushed to hospital after possible assault in Rexdale – CityNews Toronto

Published

 on


A man has been rushed to hospital after possibly being assaulted in Rexdale.

Officers were called Mount Olive and Silverstone Drives just before 7:30 p.m. to reports of an assault.

The victim was found unconscious on the scene and was taken to hospital in serious condition.

Police say it appears the man suffered a head injury.

No further details have been released at this point.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Canadian mall giant collected 5 million images of shoppers through embedded cameras in info kiosks, say privacy watchdogs. These are the malls – Financial Post

Published

 on


Article content continued

“Shoppers had no reason to expect their image was being collected by an inconspicuous camera, or that it would be used, with facial recognition technology, for analysis,” says Privacy Commissioner of Canada Daniel Therrien. “The lack of meaningful consent was particularly concerning given the sensitivity of biometric data, which is a unique and permanent characteristic of our body and a key to our identity.”

The mall giant defended the practice, saying it alerted shoppers by posting decals on mall entry doors that referred to their privacy policy. But the commissioners determined this insufficient. Shoppers were directed by the stickers to visit guest services to obtain a copy of the Cadillac Fairview’s privacy policy, but when investigators asked a guest services employee at one of the malls, “they were confused by the request.”

Cadillac Fairview spokesperson Jess Savage said in a statement to the CBC that the AVA technology did not store any images during the pilot program and was not capable of recognizing anyone.

“The five million representations referenced in the [Office of the Privacy Commissioner] report are not faces. These are sequences of numbers the software uses to anonymously categorize the age range and gender of shoppers in the camera’s view,” she said.

“The OPC report concludes there is no evidence that CF was using any technology for the purpose of identifying individuals.”

Cadillac Fairview removed the cameras from its digital directory kiosks in 2018 when the commissioners launched the probe. It has no current plans to reinstall the technology.

Let’s block ads! (Why?)



Source link

Continue Reading

Trending