Canadian dollar’s surge spurs demand for Money swaps

The current surge in the Canadian dollar against the greenback is prompting Canadian organizations to handle their currency risk through hedging plans, giving a boost to some of Canada's largest investment banks.Phones are ringing off the hook as sales managers at BMO Nesbitt Burns Inc., TD Securities Inc., Scotia Capital Inc. and RBC Dominion Securities Inc. say they're fielding more queries from customers in response to recent strength in the Canadian dollar and rising interest rates.Big movements Read more [...]

Streetwise newsletter: The week’s best reads: Western Energy, insider trading, iShares

OSC alleges Davies law firm employee involved in insider-trading ringA former legal assistant at a blue-chip law firm had been in the centre of an insider-trading ring that made $2.5-million over more than four years on takeovers involving companies like Tim Hortons Inc. and Valeant Pharmaceuticals International Inc., based on Ontario regulators. Western Energy taps Alberta finance for $215-million loan Alberta's pension fund manager is pumping more money into the state's Read more [...]

Streetwise newsletter: FinTRAC Analyzing more Property deals; Pat Chiefalo to head iShares Canada

Canada's anti-money laundering watchdog is seeing increased reporting of suspicious transactions involving Vancouver property as awareness of the warning signals enhances, but significant blind spots remain. (James Bradshaw, for readers) Pat Chiefalo is stepping in as the new head of iShares Canada, as ETF veteran Warren Collier takes on a global function. Effective Oct. 2, Mr. Collier will take on a new role as the global leader of data and index plan for iShares, while Mr. Chiefalo will take Read more [...]

Streetwise newsletter: TD Securities readies for U.S. prime time; Saudi prepares for possible Aramco delay

TD Securities is bulking up – even as some of its foreign competitors pull back. Over the past three years, the Canadian bank-owned dealer has increased its hiring in the United States, adding 300 people to bring its head count to roughly 900. Over the same period, it has boosted revenue in its U.S. business at an annual clip of 18 per cent and is targeting more double-digit growth in the years ahead. (Niall McGee, subscribers) Saudi Arabia is preparing contingency plans for a possible delay Read more [...]

Streetwise newsletter: Fireweed Energy to launch IPO, Ottawa Company faces Financing probe

Fireweed Energy Ltd., which centers on drilling at the Montney area of British Columbia, has filed a preliminary prospectus to raise $40-million in an initial public offering. (Jeffrey Jones, for readers) Attorneys for a Swiss advocacy group pursuing allegations of financial crimes against an Ottawa property business are turning to Ontario's courts to obtain sensitive financial documents from three Canadian banks and a major accounting firm. (James Bradshaw, for readers) DAILY DEALS AND FINANCINGS Read more [...]

Streetwise newsletter: Cenovus nears sale of Gasoline Resources; OSFI’s new rules could dampen House sales

A private company led by a one time senior executive in Cenovus Energy Inc. is leading a bid for a major Alberta natural gas property from his former employer, a deal that could be worth around $600-million, sources say. (Jeffrey Jones, Jeff Lewis and Andrew Willis) Canada's mortgage lenders state tougher borrowing rules suggested by Canada's banking regulator could reduce the volume of home sales in Canada by 10 per cent to 15 percent annually as buyers find it more difficult to qualify for Read more [...]

The Richmont gold bargain: A sign of things to come?

In mining circles, the Ontario town of Wawa on the shores of Lake Superior is suddenly a popular place to conduct business.Wawa, home to 3,000 souls and a huge Canada Goose sculpture, is the nearest place to purchase groceries if you work in the Island Gold mine, a property which has yielded 430,000 ounces of gold for owner Richmont Mines Inc. and holds something similar to another 1.7 million ounces of the precious metal.Proven reserves in politically stable authorities are near the top of the Read more [...]

Streetwise newsletter: The week’s best reads: Roots, Teachers, National Bank

Gearing up for IPO, Roots could only hope for flight route like Canada GooseThere is a powerful sense of déjà vu in studying the Roots Corp. initial public offering prospectus. A clearly Canadian apparel company that calls itself a "lifestyle brand" that says it is "successfully exporting our legacy worldwide," with strong domestic sales and chances for U.S. and global expansion. Teachers' European airport gets new pension investor Ontario Teachers' Pension Plan is Read more [...]

Streetwise newsletter: Teachers’ European airport investment; Roots files for IPO

Ontario Teachers' Pension Plan is becoming a new partner in its investment in a developing European airport that's in the middle of an expansion. (Jacqueline Nelson) The recent statements by two national law firms that senior executives in PricewaterhouseCoopers and KPMG Canada are joining them in key strategic roles is telling signs that traditionalists are finally enjoying the degree to which the Big Four accounting firms have reset their sights on the nation's legal-services market. Read more [...]

Personal Chinese suitor said to Purchase Brookfield-backed energy company

Brookfield Asset Management Inc. has sold one of its oil and gas holdings in Alberta to SanLing Energy Ltd., extending the slow trickle of Chinese funds to Canada's oil and gas sector.Brookfield Business Partners LP, a component of the international asset manager, announced that the sale of Insignia Energy Ltd. a month in a quarterly letter to shareholders.The deal caused a little handicap for Brookfield, which said it chose to sell the business as opposed to commit additional capital required Read more [...]