May 4, 2018

Big tech conferences overlook U.S. for Canada

Canadian Prime Minister Justin Trudeau. Photo: David McNew/Getty Images

Some of the biggest tech conferences, including Collision, Creative Commons and RightsCon, are being held in Canada instead of the U.S. this year, Financial Post reports, as Canada's tech industry booms amid President Trump's travel ban and tightening of foreign worker policies.

Big picture: Canada has been aggressively recruiting top academic and tech talent recently. Meanwhile the Trump administration has pursued stricter employment-based immigration policies that could have negative impacts on the U.S. tech industry.

Key quote: Creative Commons CEO Ryan Merkley told FP, “The political climate in the U.S., specifically the open hostility from the current administration towards many international communities, and the anxiety from those we work with about how they might be treated was definitely a deciding factor.”

  • In a video announcing the Collision conference's move, Canadian Prime Minister Justin Trudeau says, "I have to say, I’m not completely surprised. Toronto is a key global tech hub and an example of the diversity that is our strength.”

Go deeper: The North American battle for Silicon Valley's foreign talent.

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Coronavirus spreads to more countries, and U.S. ups its case count

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus continues to spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting those are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the U.S. Meanwhile, Italy reported its first virus-related death on Friday.

The big picture: COVID-19 has now killed at least 2,359 people and infected more than 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel, Lebanon and Iran.

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Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.