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Competition among alternative protein players gets hot as companies beef up with new deals

The competition for control of the burgeoning market for burger replacements (and other alternatives to animal proteins) continues to heat up.

Beyond Meat and Impossible Foods the two leading contenders for top purveyor of plant-based patties (and other formulations) have spent most of the typically sleepy summer months jockeying for the position as top supplier to a food industry suddenly ravenous for alternatives to traditional meat product.s

As soon as the first Impossible Whoppers came off the flame broilers at Burger King, Beyond Meat was announcing a new fast food chain supply deal of its own with Subway.

Through that agreement the publicly traded provider of plant-based products will be grinding up meatless meatballs for Subway’s new vegetarian option to the classic meatball sub.

Subway will roll out meatless meatballs in 685 of its franchise locations in the U.S. and Canada starting in September.

Not to be outdone, Impossible Foods came swinging back with some a new partnership with the institutional food prep giant Sodexo. At roughly 1,500 Sodexo locations food slingers at healthcare facilities and corporate and university cafeterias will unveil new options like Impossible Foods-based sausage muffin sandwiches, sausage gravy and biscuits, steakhouse burgers and creole burgers.

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Image courtesy of Sodexo

“Sodexo is committed to providing customers with more plant-forward and sustainable options as part of their diet,” said Rob Morasco, senior director culinary development, Sodexo, in a statement. “We are excited to expand our menu to include the Impossible Burger’s flavorful blend, which will be featured in several new products this fall.”

Set against this meatless horserace for national food service dominance, other plant-based providers have launched to take the startup direct-to-consumer approach to satisfy vegetarian cravings for other types of food substitutes.

It was partially in response to this furor over the vegetarian market that the world was introduced to Nuggs. Ben Pasternak, the company’s young founder, first came to fame as the teenage entrepreneur behind the social media app Monkey.

When Monkey was sold to a Chinese company in 2017, Pasternak turned his attention to food. He’s been cooking up the idea for Nuggs since that time. In 2018 the core team assembled with Pasternak bringing on Liam Mullen, a former pastry chef and self-trained molecular gastronomist who was working for the high-end New York restaurant Daniel at the age of 16.

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Image courtesy of Nuggs

Unlike Impossible Foods, which has faced supply chain woes thanks to its initial strategy of building its own manufacturing facilities, Nuggs is manufactured by McCain Foods, a food prep giant that also led the company’s $7 million round. Other investors include Rainfall Ventures; Greylock Discovery Fund; Maven Ventures; NOMO Ventures; M Ventures; ACME Capital; Founder of MTV and CEO of iHeartMedia, Bob Pittman; Casper Founder & COO, Neil Parikh; and Former President of Tumblr, John Maloney.

While Beyond Meat and Impossible Foods have grabbed most of the headlines as the first generation of protein substitutes to really make a dent with consumers, Just (the company formerly known as Hampton Creek) has also nabbed some major deals with big fast food chains for its big product — egg replacements.

Launched in 2018, the egg replacement from Just inked a major deal in late July with Tim Hortons, the Canadian coffee, donut, and sandwich chain. Much as Beyond Meat has found a home for its meatless sausages at Dunkin Donuts in the U.S., Just has seen Tim Hortons take its eggless egg replacement to a Canadian consumers (Hortons also has a sandwich using Beyond Meat).

Some companies are going beyond plant-based protein replacements to lab-grown versions of the real thing. That’s been the story behind Perfect Day, which sold out of their $20-per-pint ice cream in a matter of hours. Like Impossible Foods and Beyond Meat, the company intends to sell through ice cream manufacturers rather than going direct to consumers with its own product, according to a CNBC report.

The three protein replacement companies have grabbed investor attention and heralded a surge of venture capital investment into plant based protein products. In all, Beyond Meat, Impossible Foods, and Just have snagged over $1 billion in funding.

For investors in Beyond Meat, the $122 million in capital will yield billions in returns. The company’s market capitalization is up to a meaty $13.4 billion from $1.5 billion when its stock first began public trading. Analysts at Barclays predict the market for alternative proteins could hit $140 billion by 2029.

Capital One’s breach was inevitable, because we did nothing after Equifax

Another day, another massive data breach.

This time it’s the financial giant and credit card issuer Capital One, which revealed on Monday a credit file breach affecting 100 million Americans and 6 million Canadians. Consumers and small businesses affected are those who obtained one of the company’s credit cards dating back to 2005.

That includes names, addresses, phone numbers, dates of birth, self-reported income and more credit card application data — including over 140,000 Social Security numbers in the U.S., and more than a million in Canada.

The FBI already has a suspect in custody. Seattle resident and software developer Paige A. Thompson, 33, was arrested and detained pending trial. She’s been accused of stealing data by breaching a web application firewall, which was supposed to protect it.

Sound familiar? It should. Just last week, credit rating giant Equifax settled for more than $575 million over a date breach it had — and hid from the public for several months — two years prior.

Why should we be surprised? Equifax faced zero fallout until its eventual fine. All talk, much bluster, but otherwise little action.

Equifax’s chief executive Richard Smith “retired” before he was fired, allowing him to keep his substantial pension packet. Lawmakers grilled the company but nothing happened. An investigation launched by the former head of the Consumer Financial Protection Bureau, the governmental body responsible for protecting consumers from fraud, declined to pursue the company. The FTC took its sweet time to issue its fine — which amounted to about 20% of the company’s annual revenue for 2018. For one of the most damaging breaches to the U.S. population since the breach of classified vetting files at the Office of Personnel Management in 2015, Equifax got off lightly.

Legislatively, nothing has changed. Equifax remains as much of a “victim” in the eyes of the law as it was before — technically, but much to the ire of the millions affected who were forced to freeze their credit as a result.

Mark Warner, a Democratic senator serving Virginia, along with his colleague since turned presidential candidate Elizabeth Warren, was tough on the company, calling for it to do more to protect consumer data. With his colleagues, he called on the credit agencies to face penalties to the top brass and extortionate fines to hold the companies accountable — and to send a message to others that they can’t play fast and loose with our data again.

But Congress didn’t bite. Warner told TechCrunch at the time that there was “a failure of the company, but also of lawmakers” for not taking action.

Lo and behold, it happened again. Without a congressional intervention, Capital One is likely to face largely the same rigmarole as Equifax did.

Blame the lawmakers all you want. They had their part to play in this. But fool us twice, shame on the credit companies for not properly taking action in the first place.

The Equifax incident should have sparked a fire under the credit giants. The breach was the canary in the coal mine. We watched and waited to see what would happen as the canary’s lifeless body emerged — but, much to the American public’s chagrin, no action came of it. The companies continued on with the mentality that “it could happen to us, but probably won’t.” It was always going to happen again unless there was something to force the companies to act.

Companies continue to vacuum up our data — knowingly and otherwise — and don’t do enough to protect it. As much as we can have laws to protect consumers from this happening again, these breaches will continue so long as the companies continue to collect our data and not take their data security responsibilities seriously.

We had an opportunity to stop these kinds of breaches from happening again, yet in the two years passed we’ve barely grappled with the basic concepts of internet security. All we have to show for it is a meager fine.

Thompson faces five years in prison and a fine of up to $250,000.

Everyone else faces just another major intrusion into their personal lives. Not at the hands of the hacker per se, but the companies that collect our data — with our consent and often without — and take far too many liberties with it.

Enterprising Girl Guide sells cookies to Canadians waiting in line at cannabis store

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Canada’s recent marijuana legalization is set to bring a wave of economic benefits.

While the country’s government is set to benefit from taxes, and the cannabis industry is sure to grow, the policy has already done wonders for a Girl Guide in Edmonton.

Elina Childs, 9, sold C$120 worth of sandwich cookies and mint thins to a line of people waiting to buy legal marijuana at Nova Cannabis on Wednesday, as reported by CBC. 

It took her less than 45 minutes to sell all 30 boxes, compared to how slow it was selling cookies to people in her neighborhood. Read more…

More about Canada, Marijuana, Cannabis, Culture, and Drugs

Stop tattling on people smoking weed, Toronto police warn in cheeky tweets

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Marijuana became legal in Canada on Wednesday, and authorities are still trying to get used to it.

Toronto’s police have been pretty blunt about the matter, telling people to stop tattling on their neighbours for smoking weed or possessing pot plants.

The directive came in a series of funny tweets, comparing the reporting of smoking or possession to trivial matters, like calling 911 to ask for directions or what one should do with frozen meat in the case of a power outage.

“Do not call police for this,” the tweets read. Read more…

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Adorable exchange between Ryan Reynolds and Tessa Virtue reignites Moir shippers

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Scott Moir and Tessa Virtue, the gold-winning figure skaters from Canada, are the Ross and Rachel of this year’s Winter Olympics. 

Although Moir addressed romance rumors as “none of your business” — complete with sassy snaps — their fans are still convinced that his partnership with Virtue is more than just a professional relationship. 

This is how Scott Moir helps Tessa Virtue off the podium. What a prince#VirtueMoir #XX pic.twitter.com/119kirHmsU

— Maddie (@mQharper) February 20, 2018

Fellow Canadian Ryan Reynolds is one of those fans. On Monday he tweeted his support for the Team Canada, and implied that the figure skating duo was a couple: “And thank you @tessavirtue & @ScottMoir for agreeing to raise my children as your own.”  Read more…

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HQ Trivia Is Coming to Android | Crunch Report

HQ Trivia is coming to Android, Amazon Echo is the No. 1 best seller on the site and the founder of LeEco is ordered to return to China. All this on Crunch Report. Read More

Toronto's amazing science fiction library, the Merril Collection, has a new head librarian

It’s been decades since I first discovered my love of science fiction on a school trip to the “Spaced Out Library,” the public science fiction reference collection founded by Judith Merril — that day, I met both Merril (who went on to be a mentor to me) and Lorna Toolis, who has just stepped down as head of the library, which grew in stature and changed names, becoming the Merril Collection of Science Fiction.
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Did Justin Trudeau just Google 'Canada music' to make his summer playlist?

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Justin Trudeau needs your help because he has absolutely no clue what music he should be listening to this summer.

On Saturday morning the Canadian Prime Minister dropped his hot seasonal Spotify playlist on Twitter, featuring some lovely artists like Drake, Shawn Mendes, k.d. lang, The Tragically Hip and holy smokes wait just a minute, these artists are all CANADIAN.

What am I listening to this summer? What should I be? Check out the PM Mix playlist on Spotify: https://t.co/HXZxCVeree pic.twitter.com/zvK7ZJuG99

— Justin Trudeau (@JustinTrudeau) July 15, 2017 Read more…

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Parliament ponders letting US immigration strip-search Canadians in Canadian airports, force them to explain immigration withdrawals

The current pre-clearance rules for Canadians being processed through US immigration at Canadian airports limit the powers of US immigration officials, preventing them from strip-searching Canadians (they can ask Canadian border guards to do it, but if the Canadian guards refuse, they’re out of luck) and giving Canadians the ability to turn around and leave the immigration area, returning to Canada, if they don’t like the way they’re being treated by the US guards.
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