Tech stocks are roaring amidst the election, Vancouver ranks #1 in North America for high-tech software job growth, and right to repair gets the green light in Massachusetts
It’s all the tech news that’s popular right now. Welcome to Hashtag Trending! It’s Thursday, November 5, and I’m your host Baneet Braich.
The election has everyone on the edge of their seats even in the stock market. The current close race led investors to cut back trades that had assumed a “Democratic sweep of the White House and Congress.” Apple, Microsoft and other tech stocks are booming as the election is narrowing down. Facebook was up 8 per cent and Alphabet up 6 per cent and Apple climbed 4 per cent. The Financial Times reports that the S&P 500 increased 2.9 per cent in New York and was led by tech stocks rather than economy sensitive shares that were favoured to be in line with the “blue wave” scenario. [TechCrunch]
Vancouver has ranked #1 in North America for high-tech software job growth. According to the 2020 CBRE North America Tech-30 report, Vancouver leads the 30 top tech markets in the US and Canada. There are approximately 14,200 new jobs which account for 70 per cent of all new office jobs in Vancouver for the last two years. Vancouver’s growth rate has been 29 per cent while San Francisco follows with 26.9 per cent growth rate. Toronto stands in sixth place with a growth rate of 17.1 per cent. The report also predicts that the high-tech industry will continue to outperform the economy with job growth as technology propels the digital economy. [Daily Hive]
In Massachusetts, the adoption of a right to repair law could shift many auto-repair businesses from manufacturer-run dealerships to third-party chains and independent car-repair garages. Seventy-five per cent of voters said yes to question one which would allow car owners to access and share data generated by the operation of the vehicle with independent repair shops. Basically, manufacturers that sell vehicles with telematics systems in Massachusetts would be required to equip them with a standardized open data platform beginning with model year 2022. Vehicle owners and independent repair facilities may access the data platform to retrieve data and run diagnostics through a mobile-based application. Currently, Automobile companies and third-party repair outfits are battling over ballot questions. A collective $35 million has been contributed into their duelling campaigns and TV advertisements
That’s all the tech news that’s trending right now. Hashtag Trending is a part of the ITWC Podcast network. Add us to your Alexa Flash Briefing or your Google Home daily briefing. I’m Baneet Braich, thanks for listening