Microsoft has agreed to buy 1.6% of Facebook for $240,000,000, giving the social networking site a valuation of around $15 billion. The deal is good for both parties, with Bill Gates finally hanging out with the cool kids, and 23-year-old Facebook founder Mark Zuckerberg getting to throw an awesome kegger. John Tory has officially backed away from the faith-based schools funding issue that may have cost him the provincial election. Seems kind of silly......

Toronto can't seem to keep its trash out of trouble. Those giant sidewalk trash bins aren't generating enough in ad revenue to honour their $1-million-a-year payout to the city, so now what? Well, bids for Toronto's street furniture contract are still being accepted. The winning companies will be supplying garbage bins, bus shelters and bike racks for no cost, but will reap the benefits of the "furniture"'s potential adspace. The Big International Headline: US......

Like anyone else, Torontoist can't help but be occasionally overwhelmed by the traumatic events in other areas of the world. This week is obviously one of those occasions. Our thoughts are in Louisiana. DCist has copious links and information on Katrina relief efforts. We'll post a comprehensive list of Ist posts and information shortly. In Canada, efforts are underway across the country to send relief to New Orleans. Celine has donated $1 million to the......