How badly does CIBC want to fix its Caribbean problem? (Tim Kiladze, for readers)
Canadian Imperial Bank of Commerce has an ambitious goal to nearly double the share of its profits coming from its U.S. banking arm over three decades. (James Bradshaw, for readers)
Fidelity Canada is opening a trading desk in Toronto so as to gain competitive advantages on the market for example closer proximity to the prices on Bay Street. (Clare O’Hara, for readers)
EBay has announced plans to acquire Terapeak, an internet platform that assists eBay, Amazon, and Shopify sellers grow their online sales. Terms of the deal weren’t disclosed.
Founded from Toronto, Canada in 2002, Terapeak leverages information around supply, demand, and pricing so as to arm retailers with the information to market their goods.
Finisar Corp is getting a $390-million (U.S.) investment from Apple Inc to revive a plant in Texas, which will boost production of chips that power high-profile iPhone X features such as Face ID and portrait style photos.
French carmaker Renault has purchased a stake in a glossy magazine publishing group, its first foray into media, as it prepares to maintain travelers occupied in the age of driverless cars.
Target Corp will buy grocery delivery platform Shipt Inc for $550-million (U.S.) in cash, it said on Wednesday, promising same-day delivery of goods at the end of 2019 to lure clients that have turned to online retailers like Amazon.com Inc..
Skillz has increased $25-million (U.S.) in financing for its cellular esports platform from investors such as Liberty Global and Telstra. The San Francisco startup provides a platform to turn any mobile game on iOS and Android to a game you can play with friends or strangers for money, prizes, or points.
Mobile payment firm iZettle, often known as the “Square of Europe,” has raised $40-million ($47-million U.S.) in a form of equity financing led by VC firm and early backer Dawn Capital and The Fourth Swedish National Pension Fund, with involvement from other existing investors.
WHAT WE’RE READING
What’s Eating Bill Ackman: About a pitch-black winter night in San Diego, California, Bill Ackman and many friends slipped into wet suits, boarded a van to a nearby pier, jumped into the frigid waters of the Pacific Ocean, and swam toward a remote string of lights.
With only three weeks until authorities allow billionaire Steve Cohen to restart taking investor cash, his new hedge fund plans are making some prospective clients wary. The provisions being discussed for Cohen’s new finance — that he could establish as soon as Jan. 1, when his ban on trading out money expires — include locking up funds for a few decades, according to people knowledgeable about the matter.
Goldman Sachs Group Inc. will deal in derivatives, bonds, equities and exchange-traded funds via a new sort of place in time for the beginning of Europe’s MiFID II legislation, among the most wide-ranging trading strategies by a financial institution under the new rules.
Courtesy: The Globe And Mail