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Streetwise Streetwise newsletter: JLL’s Montreal capital markets team signs on with rival CBRE; Tilray buying hemp company Manitoba Harvest for $400-million

Here are the top reads on deals and financial services over the last 24 hours,

JLL’s Montreal capital markets team signs on with rival CBRE: Jones Lang LaSalle Inc.’s capital markets team in Montreal has suddenly resigned, leaving the commercial realtor just as the big-property market in Quebec heats up. Story (Rachelle Younglai, for subscribers)

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Tilray buying hemp company Manitoba Harvest for $400-million in U.S. CBD play: Cannabis grower Tilray Inc. is acquiring hemp food company FHF Holdings Ltd., known by its brand name Manitoba Harvest, for roughly $400-million in cash and shares, as both firms look to capitalize on the emerging cannabidiol market in the United States. Story (Mark Rendell, for subscribers)

Mojio raises US$40-million in latest round of financing: Mojio Inc., a startup founded in Vancouver that makes wireless technology for cars, has raised US$40-million in series B financing, close to double the money it had originally attracted in the round. Story (David Ebner, for subscribers)

Halifax judge appoints two law firms to represent Quadriga creditors owed $15-million: A Halifax judge has appointed Miller Thomson LLP and Cox & Palmer to represent users in the restructuring of QuadrigaCX, a Canadian cryptocurrency exchange that has lost millions of customer funds following the death of its founder. Miller Thomson and Cox & Palmer together represent 252 creditors with claims of roughly $15-million. Story (Alexandra Posadzki, for subscribers)

Critics of the overhauled CPP say it’s a bad deal - here’s why they’re wrong: The Canada Pension Plan is a model of how to get people to save for retirement – require them to do it and get their employers to pay as well. Some people have a problem with this and recent changes to the CPP have set them off. The changes will cost workers and their employers more while paying higher retirement benefits to future retirees. Opinion (Rob Carrick)

MORE FINANCIAL SERVICES NEWS

Brexit: England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds (US$11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. Story

MORE DEALS NEWS

Activism: An investor in Hudbay Minerals Inc. has released more detailed criticisms of the company as part of an effort to replace its leadership team. Waterton Global Resource Management Inc., which owns about 12 per cent of Hudbay, outlined its grievances around the miner’s leadership and share performance in a lengthy investor presentation. Story (for subscribers)

IN CASE YOU MISSED IT

Why your bank branch is looking more like a café: When you go to your bank in 2025, it’s going to look different than the branch you visit today. Changes to physical branches are happening relentlessly and, it seems, banks are rethinking and renovating themselves faster than ever in cities, in the countryside, on streets and in malls. The new bank branch is looking less like an intimidating, echo-laden cathedral of cash and more like your favourite coffee lounge. Story

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