Global Business Forum conference in Banff goes ahead with COVID-19 adjustments

Global Business Forum conference in Banff goes ahead with COVID-19 adjustments
  BANFF, Alta. — An organizer of the 21st annual Global Business Forum in Banff on Thursday says she’s proud of the work her committee has done to present a “hybrid” event this year where half of the attendees will be in the room and the rest taking part online. But vice-chairwoman Lois Mitchell says there’s no intent to ever... Read More

Nuvei closes TSX’s largest tech IPO ever, raises $805 million in gross proceeds

Nuvei closes TSX’s largest tech IPO ever, raises $805 million in gross proceeds
  MONTREAL — Nuvei Corp. has closed the Toronto Stock Exchange’s largest initial public offering in the technology sector ever, after raising US$805 million in gross proceeds. The Montreal-based payments company made US$730 million and shareholder Novacap Management Inc. made US$75 million from offering up more than 30 million subordinate voting shares at US$26 per share. Nuvei first hoped to... Read More

Tesla CEO Elon Musk’s next big bet rides on better batteries

Tesla CEO Elon Musk’s next big bet rides on better batteries
SAN RAMON, Calif. — Tesla is working on new battery technology that CEO Elon Musk says will enable the company within the next three years to make sleeker, more affordable cars that can travel dramatically longer distances on a single charge. But the battery breakthroughs that Musk unveiled Tuesday at a highly anticipated event didn’t impress investors. They were hoping... Read More

Dye & Durham buying U.K. company Property Information Exchange for $52.9M

Dye & Durham buying U.K. company Property Information Exchange for $52.9M
  TORONTO — Cloud software company Dye & Durham Ltd. of Toronto has signed a deal to buy U.K.-based rival Property Information Exchange Ltd. for $52.9 million. Property Information Exchange offers cloud-based real estate due diligence products in the United Kingdom. Dye & Durham said the company is a direct competitor and it plans to integrate and streamline the offerings... Read More

DavidsTea swings to $2.6-million profit in second quarter despite store closures

DavidsTea swings to $2.6-million profit in second quarter despite store closures
MONTREAL — DavidsTea Inc. swung to a $2.6-million profit in its latest quarter despite a 41 per cent decrease in sales during the COVID-19 store closings. The insolvent Montreal-based beverage company says it earned 10 cents per diluted share for the period ended Aug. 1, compared with a loss of 44 cents per share or $11.3 million a year earlier.... Read More

CI Financial buying U.S. investment adviser Bowling Portfolio Management

CI Financial buying U.S. investment adviser Bowling Portfolio Management
TORONTO — CI Financial Corp. says it has signed a deal to acquire U.S. investment adviser Bowling Portfolio Management LLC. The firm based in Cincinnati has US$450 million in assets under management. Financial terms of the transaction were not disclosed. Bowling provides financial planning and investment management services to high-net-worth clients. CI has been expanding its operations in the U.S.... Read More

TC Energy CEO Russ Girling retiring with Keystone XL pipeline still unfinished

TC Energy CEO Russ Girling retiring with Keystone XL pipeline still unfinished
CALGARY — The long-standing chief executive of TC Energy Corp. is set to retire having overseen a corporate name change and dramatic growth and stock price appreciation, but without achieving completion of the contentious Keystone XL pipeline project. The Calgary-based pipeline, utility and power generation company has announced that Russ Girling will retire at the end of this year after... Read More

Montreal-based Nuvei Corp. IPO makes exchange history with first trading on TSX

Montreal-based Nuvei Corp. IPO makes exchange history with first trading on TSX
Montreal payments company Nuvei Corp. is making history by raising US$700 million through an IPO, the largest amount by a technology company in TSX history. The company’s more than 26.9 million subordinate voting shares were trading to nearly US$34 by early afternoon, well above the US$26 where they were priced and US$20 to US$22 in initial marketing. Nuvei is on... Read More

Cogeco directors spurn Rogers, Altice again in an exchange of accusatory letters

Cogeco directors spurn Rogers, Altice again in an exchange of accusatory letters
MONTREAL — Cogeco Communications Inc. and its parent company are accusing Rogers Communications Inc. and its American partner of using “bad faith tactics” in their attempt to buy the company without support from its controlling shareholder. In a letter released two weeks after Rogers and Altice USA Inc. announced a $10.4 billion offer, Cogeco’s lead director says they failed to... Read More

Loblaw investing $75 million for minority stake in telemedicine firm Maple

Loblaw investing $75 million for minority stake in telemedicine firm Maple
TORONTO — Loblaw Companies Ltd. has signed a deal to buy a minority stake in telemedicine company Maple Corp. for $75 million. The company says the investment will be made through its Shoppers Drug Mart Inc. subsidiary. Maple helps people connect with doctors and medical specialists using a smartphone or computer and also provides technology for employers, insurers, hospitals and... Read More