Investors in Ontario Sikh community lose millions from real estate investment scheme: A large group of retail investors from the Toronto area’s Sikh community are out as much as $9-million after purported land developers pitching housing projects allegedly diverted their investments for their own use, including making a down payment on a 2019 Lamborghini, court records show. (Greg McArthur)
Vancouver COVID-19 therapy developer AbCellera eyeing potential IPO as early as fall: A heavily funded Vancouver biotechnology startup whose work to find a treatment for COVID-19 has captured global attention says it could go public as early as this fall to capitalize on investor enthusiasm for health care stocks. (Sean Silcoff)
Robust corporate bond market has little need of BoC support program: When the Bank of Canada launched a program in mid-April to begin buying corporate bonds, it was embarking on a journey into unknown territory for a Canadian central bank. It’s turned out to be little more than a day trip. (David Parkinson and Mark Rendell)
Economic slowdown hits the alternative lending business: The coronavirus pandemic is hitting alternative lenders hard, with business down substantially, a handful of mortgage investment corporations stopping investors from redeeming their funds and others trying to offload their portfolios of home loans. (Rachelle Younglai)
NordStar says rival bidder sought to partner on Torstar deal: The rival bidder for Torstar Corp. first sought to partner with NordStar Capital LP before launching its own offer, which failed to win the support of the company’s board, a NordStar partner said on Sunday. (Jeffrey Jones)
Toronto startup Fable Tech Labs seeks to make the digital world better for people with disabilities: Toronto’s Fable Tech Labs Inc. wants to make the digital world better for people with disabilities by putting them at the forefront of improving it – and the startup is signing on a growing number of clients and investors in the process. (Josh O’Kane)
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