Afternoon Coffee: Canada Announces New Antidumping Measures, Candex Raises $3.5 Million in Seed Funding

AdobeStock/Nongnuch Leelaphasuk

The Canadian government announced Tuesday it would bring in new rules to prevent diversion and transshipping of steel and aluminum, the Wall Street Journal reports. The move comes in response to U.S. demands that its allies address global excess capacity in steel and aluminum.

Candex Funding

Candex, a San Francisco-based provider that facilitates the engagement and payment of small services businesses, announced Friday it had raised $3.5 million of seed funding, according to a press release. The company plans to use the money to push its business further into the Fortune 500 market.

“The Candex e-marketplace approach is a brilliant solution for the tail spend needs of today’s enterprise, said Mark Goines, who will join Candex’s board as a new member. “This financing is perfectly timed to enhance the company’s leadership position.”

The Smart Cube’s Smart Risk

The Smart Cube announced Thursday it is rolling out a new supply chain risk monitoring solution. Called Smart Risk, the offering “leverages an extensive array of sources from subscription news service APIs and databases, to social media, augmented by responses to custom supplier questionnaires,” according to a press release.

US GDP 

And finally, an economic update: U.S. economic growth slowed less the previously expected in the fourth quarter, CNBC reports, with the Commerce Department’s final reading coming in at 2.9% rather than the 2.5% originally reported. Analysts believe the December tax cut package will likely push the economy over President Trump’s stated goal of 3% annual growth this year.

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