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

RBC devoted to slow-but-steady approach to becoming international powerhouse in investment banking: Doug McGregor contends that he knows exactly what it would take to quickly vault Royal Bank of Canada’s capital markets business into the very top ranks of global investment dealers. Story (Andrew Willis, for subscribers)

Barrick Gold eyeing Canada for acquisition opportunities: Barrick Gold Corp.’s new chief executive says the company is sizing up a number of acquisition opportunities in Canada as it looks to boost investment in its home country. Story (Niall McGee, for subscribers)

BMO launching new financial-crimes unit to combat fraud and cyberthreats: Bank of Montreal is creating a new financial-crimes unit to combat fraud and cyberthreats and has hired a former U.S. security official to be its leader. The new unit is launching at a time when banks face rising threats from cybercriminals and fraudsters. Story (James Bradshaw, for subscribers)

Bank ‘slugfest’ leaves Canadian tech sector piled high with cheap debt offers: Banks spent 2018 fighting to give Canada’s fast-growing tech sector something it hasn’t had much taste for in years: debt. Canadian scale-ups and venture-capital-firm partners spent much of the past year watching offers for debt financing pile higher than they can ever remember. In interviews with The Globe and Mail, founders, partners and lenders used phrases like “slugfest” and “arms race” to describe the phenomenon. Story (Josh O’Kane, for subscribers)

Smaller Canadian banks may soon be able to tap rapidly growing covered bonds market: Raising the limit for covered bonds could spur smaller Canadian banks to establish such programs as the uninsured-mortgage market grows. Covered bonds, which are a popular source of funding for uninsured residential mortgages in Canada, have grown dramatically since their inception in 2013, according to a report published by ratings agency DBRS Ltd. on Monday. Story (Alexandra Posadzki, for subscribers)

Power Corp. creates new team hoping to raise nine-figure fund for health investments: Power Corp. of Canada’s alternative-investment arm is expanding its scope with a new team that hopes to raise a nine-figure fund focused on generating returns from pharmaceutical innovations. The billionaire Montreal Desmarais family’s Sagard Holdings announced the new investing wing on Monday. Sagard Healthcare Royalty Partners will invest in intellectual property (IP) in the pharmaceutical industry. Story (Josh O’Kane, for subscribers)


Trading: Morgan Stanley, Fidelity Investments, Citadel Securities LLC and a host of other financial companies plan to launch a low-cost bourse that will compete with the New York Stock Exchange and Nasdaq. Story (for subscribers)

Resignation: World Bank Group president Jim Yong Kim unexpectedly resigned on Monday, more than three years before his term ends in 2022, amid differences with the Trump administration over climate change and the need for more development resources. Story

Brexit: Assets worth nearly £800-billion ($1.4-trillion) are being moved from Britain to new financial hubs in the European Union ahead of Brexit, consultancy EY said on Monday. Story


Media sector: Stingray Group Inc. says it has entered into an agreement to acquire a music radio station in Drumheller, Alta., for an undisclosed price. Story

Retail sector: Activist hedge fund Starboard Value LP on Monday called on Dollar Tree Inc to sell its underperforming Family Dollar business and proposed replacing a majority of the board after revealing a stake in the U.S. discount retailer. Story


Aphria’s dealmaker: How a self-described outsider found himself in the hot seat: Aphria Inc. turned itself from a tiny company into one of Canada’s biggest cannabis producers. But after a flurry of controversial transactions and the loss of billions in stock-market value, the company, and dealmaker Andy DeFrancesco, are in the hot seat. Story (Christina Pellegrini, David Milstead and Mark Rendell, for subscribers)

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