Here are the top reads on deals and financial services over the last 24 hours,
Shareholder proxy firm sides with Detour Gold on proposed board slate: A proxy advisory firm is telling shareholders to stick with Detour Gold Corp.'s proposed slate of directors – a setback for Paulson & Co.'s efforts to overhaul the gold miner’s board. In a report published late Friday, independent firm Institutional Shareholder Services Inc. (ISS) advised investors to go with Detour’s board recommendations, despite Paulson’s agitating for wholesale change at Toronto-based Detour. Story (Niall McGee, for subscribers)
Failed B.C. money-laundering case shows ‘snow-washing’ is thriving in Canada: When RCMP raided the offices of Silver International Investments Inc. in Richmond, B.C., they found a $2-million stash of $20 bills, along with records pointing to a much bigger operation. Law-enforcement officials would eventually conclude that the company was part of an alleged scheme to launder hundreds of millions of dollars a year in dirty money from China through various casinos in the province, including the nearby River Rock Casino. Opinion (Barrie McKenna, for subscribers)
Statistics Canada suspends credit searches, delays plan to obtain banking records: Statistics Canada is suspending its practice of obtaining personal credit records from TransUnion and has written to Canada’s banks to delay its plan to obtain the banking details of 500,000 Canadian households. Story (Bill Curry)
MORE FINANCIAL SERVICES NEWS
Takeover speculation: Deutsche Bank is not at risk of a takeover, its chief executive told a German weekly paper after its shares fell to a record low on Friday in the wake of a two-day raid related to money laundering allegations. Story (for subscribers)
MORE DEALS NEWS
Cannabis sector: Marlboro cigarette maker Altria Group Inc. is in early-stage talks to acquire Canadian cannabis producer Cronos Group Inc., as it seeks to diversify its business beyond traditional smokers, people familiar with the matter said on Monday. Story (for subscribers)
Mining sector: China’s Tianqi Lithium Corp. has purchased a 23.77-per-cent share in Chilean lithium miner SQM Inc. from Canadian fertilizer giant Nutrien, the Chilean stock exchange said on Monday, for a total sale price of US$4.07-billion. Story (for subscribers)
Drug sector: GlaxoSmithKline has agreed to buy U.S. cancer specialist Tesaro for $5.1-billion, a costly investment to rebuild the pharmaceuticals business by new Chief Executive Emma Walmsley that unnerved investors. Story (for subscribers)
Tech sector: U.S. chip maker Qualcomm Inc. rejected a suggestion by the White House that its collapsed $44-billion acquisition of Dutch peer NXP Semiconductors could be revived, saying the deal had been terminated as the deadline had expired. Story (for subscribers)
IPO: Tencent Music Entertainment launched its hotly anticipated U.S. initial public offering of up to US$1.2-billion on Monday after global stock markets were boosted by a truce brokered by U.S. and Chinese leaders in their trade conflict. Story (for subscribers)
Media sector: Nexstar Media Group Inc. has reached an agreement to acquire to Tribune Media Co. for about US$4.1-billion, a deal which would make it the largest local U.S. TV station operator, people familiar with the matter said on Sunday. Story (for subscribers)
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