HBC files suit against Oxford, says landlord breached lease agreements: Hudson’s Bay is firing another salvo in a battle with some of its landlords over rent payments during the global coronavirus pandemic. On Tuesday, Hudson’s Bay Co. ULC filed a lawsuit against Oxford Properties and its affiliates, claiming Oxford is in breach of its lease agreements at seven shopping malls it owns, co-owns or manages. HBC says in its statement of claim that it is not required to pay rent on those stores until the “breaches” are resolved. (Susan Krashinsky Roberson, Rachelle Younglai)
BCSC alleges junior B.C. mining company First Mexican Gold doctored technical report: The British Columbia Securities Commission (BCSC) alleges that junior mining company First Mexican Gold Corp., its then-chief executive officer and an external consultant broke securities laws by knowingly publishing a shoddy estimate of resources on a minerals property. (Niall McGee)
Cenovus to cut up to 25 per cent of work force after deal with Husky: Cenovus Energy Inc. plans to cut up to a quarter of its work force after it acquires Husky Energy Inc., in another major blow to Alberta’s oil patch. The job losses could total around 2,150 positions, with the majority expected to be lost in Calgary. There were no details available on the timing of the cuts. (Emma Graney)
Finally, GIC investors get their own online broker to shop the market for top rates: Investors who like the safety of guaranteed investment certificates have been largely ignored in the tech revolution that has transformed do-it-yourself investing in the past 20 years. An online GIC broker called GIC Simple is trying to fill this gap. (Rob Carrick)
Advanced Micro Devices buys Xilinx for $35-billion in all-stock deal: Advanced Micro Devices agreed to pay US$35-billion in stock for Xilinx, a deal aimed at reshaping one of the computer chip industry’s pioneers. AMD, known mainly as Intel’s long-time rival in microprocessors that power most computers, plans to use the acquisition to broaden its business into chips for markets like 5G wireless communications and automotive electronics. (New York Times)
Shopify to partner with TikTok in bid to woo more merchants to site: E-commerce company Shopify Inc. said on Tuesday it will partner with TikTok to help its one million-plus merchants more easily advertise their products on the video-sharing app, as it looks to grow its customer base. (Reuters)
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