Streetwise newsletter: Last week’s best reads: CRA, Loblaw, HBC

A bitcoin craze sweeps Bay Street – and looks a lot like the dot-com boom Clad in a baseball cap and a dark polo shirt, Anthony Di Iorio is a stark contrast against the sea of suits. He paces across the stage as he addresses a crowd of more than 400 portfolio managers, investment advisers and high net worth investors gathered in Toronto's financial district to learn about bitcoin. "How many here are thinking that they want to invest in the space?" Mr. Di Iorio asks. Most of the hands in the Read more [...]

Streetwise newsletter: Manulife eyeing Alternatives for John Hancock U.S. unit

Canadian insurer Manulife Financial Corp is "considering all options" for the future of its John Hancock U.S. unit, new Chief Executive Officer Roy Gori said in an interview on Thursday. DAILY DEALSATamp;T Inc won't sell cable network CNN to win antitrust approval of its proposed $85.4-billion purchase of media company Time Warner Inc and will fight the government in court if both sides can't reach an agreement, the wireless company's chief executive said. Read more [...]

Streetwise newsletter: CRA fight could cost Loblaw; U.K. regulator delays banning jailed Libor Dealer

With Canadian-owned offshore businesses facing increasing scrutiny, a Loblaw Cos.. Ltd. affiliate is fighting with the Canada Revenue Agency over taxes on the earnings of a Barbadian subsidiary, in a battle that could cost the grocer greater than $350-million. (Josh O'Kane, readers)Britain's markets regulator said on Wednesday it would postpone banning accusing former dealer Tom Hayes in the financial services sector prior to an investigation into his conviction was completed. DAILY DEALS Read more [...]

Streetwise newsletter: Bidder for German Shops fails to Influence HBC; Infrastructure Bank Seat outlines key mandates

Hudson's Bay Co. says new documentation from Austria-based Signa Holding GmbH outlining the funding it has at its disposal to get a $4.5-billion bid because of its German department-store series Galeria Kaufhof doesn't alter its view that the strategy is unsolicited and provides no formal dedication. (Jeffrey Jones, readers) The Canada Infrastructure Bank's inaugural chair stated the organization's structure is taking shape and worried it will find deals with the private sector which may not Read more [...]

Streetwise newsletter: Last week’s best reads: CIBC, Stelco, BMO

CIBC withdraws as underwriter for Tapscott-led blockchain financeCIBC World Markets Inc. has pulled out as an underwriter for a $100-million blockchain-focused venture capital fund directed by Alex Tapscott, according to sources close to the deal. CIBC in discussions with robo-adviser Wealthsimple, sources confirm Canadian Imperial Bank of Commerce is in discussions with Wealthsimple to hit a partnership which could see the lender refer some clients to the Read more [...]

Streetwise newsletter: Trump names new Fed chair; Bitcoin skyrockets over $7,000

Jerome Powell wasn't on President Donald Trump's early radar as a potential successor to Federal Reserve Chair Janet Yellen and was angling rather for a job as the U.S. central bank's vice chair for oversight. But when he had been passed over for this position last summer, it was one in a series of events that left the 64-year-old Fed governor and investment banker on the cusp of taking over as head of the world's most powerful central bank. Trump on Thursday nominated Powell to replace Yellen Read more [...]

Streetwise newsletter: Algonquin Power makes push into renewable energy; New BMO CEO promotes retail banking Mind

Algonquin Power amp Utilities Corp. moved into international renewable-energy markets on Wednesday with the purchase of a portfolio owned by troubled Spanish electricity company Abengoa S.A. Andrew Willis (readers) On his first day in office as Bank of Montreal's chief executive officer, Darryl White promoted a key lieutenant, giving retail banking thoughts Cam Fowler new jurisdiction over a few U.S. operations. James Bradshaw (readers) The resurrection in Canadian mining initial public offerings Read more [...]

Streetwise newsletter: Teachers to Market British airport Bets, Innergex-Alterra in $1.1-billion Bargain

The Ontario Teachers' Pension Plan states it's selling off 30 percent of its bets at two United Kingdom regional airports to broaden its investment plan. DAILY DEALSShares of Innergex Renewable Energy Inc. dropped in trading Tuesday after the company declared a favorable deal to obtain Alterra Power Corp. worth $1.1-billion, including debt. SoftBank Group Corp and Deutsche Telekom AG have reached an impasse in their discussions to unite U.S. wireless carriers Sprint Read more [...]

Streetwise newsletter: BoC has ‘head in the sand’ on bitcoin; Forge First Purchases Sui Generis

A top official in the Ontario Securities Commission says the Bank of Canada "has its head in the sand" on cryptocurrencies like bitcoin and ether, making it more difficult for the provincial watchdog to regulate investment activity in the region. Alexandra Posadzki (readers) Two Toronto-based hedge funds are consolidating in the middle of a challenging year for the industry. Andrew McCreath, president and chief executive officer of Forge First Asset Management Inc., said his company has bought Read more [...]

New disclosure form makes it easier for small Companies to compare loans

As alternative lenders for small businesses look to expand their market share in Canada, a number have banded together to bring more transparency to an industry sometimes criticized for taking advantage of borrowers.Seven non-bank lenders, acting within the newly minted Canadian Lenders Association, will shortly be using a standardized disclosure form which makes it easier for borrowers to determine how much they are actually paying for financing.Instead of having crucial information scattered Read more [...]