Skip to main content
streetwise newsletter

Here are the top reads on deals and financial services this week.

CannTrust CEO fired ‘with cause’ amid scandal over unlicensed cannabis plants: CannTrust Holdings Inc. said it has terminated the company’s CEO Peter Aceto “with cause” and has forced the resignation of chairman Eric Paul, amid a deepening scandal over cannabis plants being grown in unlicensed rooms. Story (Jeffrey Jones and Mark Rendell)

Re-inventing RBC: How Canada’s biggest bank is tackling the never-ending threat of disruption: As the bank celebrated its 150th anniversary in June, chief executive Dave McKay and Mr. McLaughlin spoke to The Globe and Mail about the challenges ahead, as well as their vision for what the bank, and the industry, might look like in 2035. Story (James Bradshaw)

HBC committee invites dissident shareholders to discuss privatization bid, other alternatives: The special committee of Hudson’s Bay Co.’s board examining a $1-billion privatization bid led by the retailer’s chairman has invited other shareholders to talk about the contentious proposal as well as any alternatives. Story (Jeffrey Jones)

Cryptocurrency consulting firm CoinLaunch Corp. agrees to settlement with OSC: Cryptocurrency consulting company CoinLaunch Corp. has agreed to pay more than $50,000 in penalties, costs and profits as part of a settlement with Ontario’s securities watchdog over allegations that the firm engaged in the unregistered trading of securities. Story (Alexandra Posadzki)

Canadian pension funds invest in pot stocks: Some Canadian pension funds have bought into the volatile cannabis sector, for better or worse. Story (David Milstead)

Transat says Air Canada is ‘preferred buyer’ despite shareholder opposition: Despite major shareholder opposition, Transat A.T. Inc. says Air Canada is the “preferred buyer” of the airline and travel company, casting doubts on the financial ability of former bidder Groupe Mach Inc. to complete a takeover. Story (Eric Atkins)

BC Partners to buy GardaWorld in deal worth $5.2-billion: In one of the biggest private equity acquisitions in Canadian history, U.K.-based BC Partners has snapped up a majority stake in Montreal security giant GardaWorld Corp. in a deal worth $5.2-billion. Story (Alexandra Posadzki)


Sprint, T-Mobile merger wins conditional approval of U.S. Justice Department: The companies have agreed to divest Sprint’s prepaid businesses including Boost Mobile to Dish Network Corp in order to move ahead with the merger, which was announced in April 2018. Story (Reuters)

Apple buying majority of Intel unit in push for chip independence: Apple Inc. took a major step toward supplying its own smartphone chips by purchasing the majority of Intel Corp.’s modem business in a deal valued at US$1-billion, the companies said on Thursday. Story (Reuters)


Twitter shares surge as design changes draw more users and advertisers: Twitter’s revenue and number of users have been in focus since the social media platform started deleting millions of spam or fake accounts promoting hate speech or spreading political misinformation, contributing to declines in monthly users through 2018. Story (Reuters)

Amazon’s bet on faster delivery proves to be a drag on second-quarter profit: Inc on Thursday reported its first profit miss in two years and said income would slump in the current quarter, as the online retailer ramps up spending on one-day delivery to spark sales growth. Story (Reuters)

Google’s parent company beats revenue estimates on higher ad sales; shares jump: Alphabet Inc. reported quarterly revenue and earnings that beat expectations on Thursday, easing concerns about the short-term growth challenges facing Google, YouTube and the company’s other advertising businesses even as it faces antitrust investigations. Story (Reuters)

Facebook discloses U.S. antitrust probe as it reports quarterly results: Facebook Inc. beat analysts’ estimates for revenue on Wednesday for a second straight quarter, but even as it agreed to pay US$5-billion to settle a data-privacy probe the company disclosed that it faces a new U.S. government antitrust investigation. Story (Reuters)

Boeing sinks to record $3-billion loss as 737 Max crisis drags on: Boeing Co. posted its largest-ever quarterly loss on Wednesday due to the spiralling cost of resolving issues with its 737 Max, warning it may have to shut production of the grounded jet completely if it runs into new hurdles with global regulators getting its best-selling aircraft back in the air. Story (Reuters)

George Weston profit jumps, boosted by acquisition of majority ownership of Choice REIT: Among the positive items for Weston was $49 million related to its acquisition last year of majority ownership of the Choice Properties real estate trust, which was spun off by Loblaw Companies Ltd. to its shareholders in November. Story (The Canadian Press)

Rogers sees strong demand for new ‘unlimited’ wireless plans: Rogers Communications Inc. added fewer new wireless customers than expected in the second quarter but says demand for new wireless plans that have no additional fees for going over monthly data limits has been strong, with many customers willing to pay more for the option. Story (Christine Dobby)

CN Rail revenue jumps on higher crude, grain volumes: Canadian National Railway Co. boosted revenue by 9 per cent in the second quarter, as Canada’s largest railway saw oil and grain volumes rise. Story (Eric Atkins)

The Streetwise newsletter is Tuesday to Saturday. If you’re reading this on the web, or if someone forwarded this e-mail to you, you can sign up for Streetwise and all Globe newsletters on our signup page.

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe