Morning Update: Airbnb’s impact on rental market; Quadriga founder moved customer funds; Ontario health-sector layoffs

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Also: Raptors President Masai Ujiri had NBA identification, but not proper credentials leading up to altercation

This is the daily Morning Update newsletter. If you’re reading this on the web, or it was forwarded to you from someone else, you can sign up for Morning Update and more than 20 more Globe newsletters on ourGerald Cotten moved large sums of customers’ money from the now-defunct cryptocurrency exchange into his personal accounts at competing exchanges, court-appointed monitorThe Canadian founder died in December while in India, leaving 76,000 users unable to access $214.6-million of their funds.

A total of 825 back-office jobs will be eliminated, almost half of which are already vacant, which will save $250-million this fiscal year and $350-million a year after that. , after The Globe described an eyewitness account of the officer being told that Ujiri was a Raptors executive, moments before the two became embroiled in a shoving match.

The police have said that Ujiri struck the officer in the face and that video footage backs up their account, but it has not been released and the body-cam footage, police said, switched off the instant Ujiri made contact.

 

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Airbnb's activities are causing a housing crisis. The sooner the crisis is tackled, the better solutions we'd get. A housing crisis isn't one to be taken lightly. It affects every fabric of society.

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