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Here are the top reads on deals and financial services over the last week. Have a great summer weekend.

No sign of letup in deal-making in cannabis sector despite the pullback at Canopy Growth: Cannabis-industry pioneer Bruce Linton’s sudden departure from Canopy Growth Corp. signals the company’s pullback from its own frenetic pace of expansion, but the sector’s deal flow shows no sign of letting up. Story (Jeffrey Jones)

Will Ontario’s new law protect financial planning in name only or in substance, too?: Here’s an ugly fact: Right now, anyone anywhere in Canada (except Quebec) can set up shop as a financial advisor or financial planner – even if they have no training or qualifications whatsoever. How is that possible in a nation practically overrun with securities commissions and financial watchdogs? Opinion (Neil Gross)

Bank of England Governor Mark Carney emerges as a leading contender to take top job at IMF: Bank of England Governor Mark Carney has emerged as a leading candidate to take over as head of the International Monetary Fund, one of the most important positions in the global economy. Mr. Carney is a contender to replace the current IMF managing director, Christine Lagarde, who has been nominated to become president of the European Central Bank. If confirmed by the European Parliament, as expected, Ms. Lagarde would take up the post on Oct. 31 when the current ECB president, Mario Draghi, steps down. Oddsmakers at Betway, an online betting company, and a number of IMF observers have pegged Mr. Carney as having among the best chances of winning the IMF job, given his background and experience. Story (Paul Waldie)

Sandpiper Group adds voice growing opposition to Baker’s privatization bid for HBC: Private-equity company Sandpiper Group has joined the list of Hudson’s Bay Co. shareholders opposed to a $1-billion privatization offer, giving added momentum to the deal’s critics. Story (Rachelle Younglai and Jeffrey Jones)

Trade uncertainty, gloomy outlook weigh on Canadian IPO market: Trade uncertainty and a gloomy economic outlook prompted many Canadian companies to delay their public market debuts, opting instead for cash infusions from private-equity investors. Story (Alexandra Posadzki)

For Canopy’s Bruce Linton, his biggest deal was his undoing: Bruce Linton has been the cannabis industry’s busiest and flashiest dealmaker. In the end, his biggest deal was his undoing. The co-chief executive and chairman of Canopy Growth Corp., who was instrumental in building the Smiths Falls, Ont.-based grower and marketer into a global pot juggernaut, was handed his walking papers by the same U.S. consumer-products giant he brought in as a major shareholder. Opinion (Jeffrey Jones)

Canopy Growth’s Bruce Linton amassed more than $200-million during his time as company’s co-CEO: Bruce Linton’s time at the top of Canopy Growth Corp. is over, but his run as CEO allowed him to amass one of the larger personal fortunes in Canada’s newly legal cannabis industry. Story (David Milstead)

Canada’s missed opportunity: Pot industry now being run out of the U.S.: With Bruce Linton’s firing, it’s now all too clear that the biggest companies in Canadian cannabis are run out of New York and the state of Washington. Story (Andrew Willis)

KKR acquires Ottawa software firm Corel from Vector Capital: American private equity giant KKR has bought Corel Corp. for a reported US$1-billion from Vector Capital, which bought control of the one-time Ottawa software star 16 years ago. Story (Sean Silcoff and Stefanie Marotta)

Radical Ventures lead $30-million financing for receipt fintech Sensibill: Sensibill Inc., a Toronto startup that provides digital receipt management technology to banks has raised US$31.5-million in venture financing, marking the fifth time in less than a month that a Canadian startup has raised $30-million-plus in financings led by Canadian investors. Story (Sean Silcoff)

CPPIB to sell student housing company but hold stake in buyer: The Canada Pension Plan Investment Board is selling a British student-housing company it bought four years ago, but plans to hold a stake in the buyer. The Unite Group PLC said Wednesday that it is buying Liberty Living Group PLC for £1.4-billion ($2.3-billion). The CPPIB bought Liberty Living in 2015 for £1.1-billion ($1.8-billion at today’s exchange rates). The numbers aren’t directly comparable because of changes in the company’s portfolio and capital structure. Story (David Milstead)

Don’t put faith in Facebook’s cryptocurrency: Facebook and some of its corporate allies have decided that what the world really needs is another cryptocurrency – and that launching one is the best way to use the vast talents at their disposal. The fact that Facebook thinks so reveals much about what is wrong with 21st-century American capitalism. Opinion (Joseph Stiglitz)

Dollarama moves into Latin America with Dollarcity deal: Montreal-based Dollarama Inc. is looking abroad for its next stage growth, acquiring a 50.1 per cent stake in rapidly-growing Latin American value retailer Dollarcity. Story (Alexandra Posadzki)

Morningstar names credit ratings head after DBRS acquisition, stresses Canada crucial to its growth: Morningstar Inc. is tapping the head of DBRS Ltd.’s European division to run its credit ratings arm as the investment research giant plots global growth and takes on the debt industry’s two ratings titans. In May, Morningstar announced a deal to acquire Toronto-based DBRS for US$669-million. Story (Tim Kiladze)

More loan losses predicted at annual meeting for Callidus Capital: Callidus Capital Corp. expects further losses on businesses it owns or loaned money to, a downbeat outlook for the lending company controlled by Newton Glassman as it continues to deal with an offer to take the company private. Story (Andrew Willis)

Montreal’s Alaya Care raises $51-million from Caisse, iNovia: When Adrian Schauer started his latest business, Alaya Care Inc., in 2014 his goal was to grow the software provider for home health-care agencies and then flip it to make some cash. Since then, 40-year-old Mr. Schauer has changed his mind. After seeing Canadian software startups Shopify Inc. and Lightspeed POS Inc. stay Canadian while achieving multibillion-dollar valuations, he wants Montreal-based Alaya Care to replicate that success. Story (Sean Silcoff)

Raptors co-owner Larry Tanenbaum scores big in ONroute sale: Larry Tanenbaum had more than an NBA championship to celebrate this spring. The private equity investor and co-owner of the Toronto Raptors just made a significant score with the sale of Ontario’s 23 ONroute service centres, and proved that public-private partnerships can work. Mr. Tanenbaum’s company, Kilmer Van Nostrand Co. Ltd., and a unit of Italian catering company Autogrill Group sold their joint interest in the Highway 400 and 401 pit stops to a pair of private equity funds, U.K.-based Arjun Infrastructure Partners Ltd. and Toronto-based Fengate Asset Management Ltd. Story (Andrew Willis)

Mortgage insurer Genworth studying sale of Canadian arm as Ottawa reviews takeover by Chinese firm: Mortgage insurer Genworth Financial Inc. is considering spinning out its large Canadian subsidiary after Ottawa raised national-security concerns about a sale of the entire company to a Chinese conglomerate. Early Monday, Richmond, Va.-based Genworth and its privately held suitor, China Oceanwide Holdings Group Co. Ltd., announced they have “decided to consider strategic alternatives” for Genworth MI Canada Inc. The Canadian division was partly spun out in an initial public offering in 2009, but remains controlled by the U.S. company. Story (Tim Kiladze)


Desjardins aids members with access to protection service after massive data breach: Desjardins Group announced additional measures Friday to help its members who were victims of data theft and are having difficulty accessing Equifax’s protection service. Story (Canadian Press)

GFL acquiring recycling processor Canada Fibers: GFL Environmental Inc. has signed a deal to acquire recycling processor Canada Fibers Ltd. Story (Canadian Press)

End of an era at Deutsche Bank as investment bank head Garth Ritchie exits: The head of Deutsche Bank AG’s investment bank agreed to step down on Friday in a sign of the division’s waning influence as Germany’s largest lender prepares a multibillion-dollar restructuring aimed at reversing a decline in its fortunes. Story (Reuters)

Wells Fargo fined US$6.6-million in Ireland over multiple reporting breaches: Wells Fargo & Co’s Irish subsidiary was fined 5.9 million euros (US$6.6 million) on Friday for a prolonged series of regulatory reporting breaches, the second largest fine ever handed down by Ireland’s Central Bank. Story (Reuters)

Private equity-backed North Sea oil producer Siccar Point considering sale: sources: Private equity-backed oil and gas producer Siccar Point is testing the waters for its potential sale later this year, hoping to attract interest for its mostly untapped North Sea resources, industry and banking sources said. Story (Reuters)

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