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The Bay Street sign is shown in the heart of the financial district as people walk by in Toronto.MARK BLINCH/Reuters

Brookfield Properties Corp.has put a key piece of Toronto's financial district on the auction block. The major Canadian commercial property owner is seeking as much as $1-billion for a 50-per-cent stake in the Bay Adelaide Centre, according to people familiar with the matter, as the company retools its portfolio amid a multiyear boom in commercial real estate. Story Rachelle Younglai (subscribers)

Shares in Canadian clothing firm Roots Corp. dropped sharply in their stock market debut on Wednesday – a rare flame-out in what has been a banner year for initial public offerings in Canada. Story Niall McGee (subscribers)

Following in the footsteps of Berkshire Hathaway, ECN Capital Corp. is moving into lending on affordable housing by acquiring Florida-based Triad Financial Services Inc. for $100-million (U.S.). Story Andrew Willis (subscribers)

DAILY DEALS

TransCanada Corp. is offloading its only solar power holdings in a $540-million deal as it moves against the industry trend of investing more in renewables. Story

Pfizer plans to kick off an auction process for its consumer healthcare business in November, paving the way for a potential $15-billion-plus (U.S.) sale of the headache pill to lip balm business, sources close to the matter told Reuters. Story

ELSEWHERE IN FINANCIAL SERVICES

Equifax Inc. is running out of time to schedule its first quarterly results report since the massive breach that exposed sensitive data on 145.5 million people and erased more than $4-billion (U.S.) of the credit reporting firm's market value. Story

Deutsche Bank AG has agreed to pay $220-million (U.S.) to settle U.S. regulatory charges that it defrauded government and nonprofit entities by manipulating Libor and other benchmark interest rates. Story

Visa Inc. beat Wall Street's quarterly profit expectations on Wednesday as more people made payments using its world-wide network and it benefited from the acquisition of Visa Europe. Story

WHAT WE'RE READING

According to CB Insights and PwC's Canada's latest MoneyTree report, 2017's sluggish start may transform into a podium finish by year's end. The report, which tracks VC activity in Canada for the third quarter of 2017, indicates that Canada could exceed $2.5-billion ($2-billion U.S.) across more than 300 deals for the year. The result would match or surpass activity from last year, when a total of $2.2-billion U.S. was invested, and 2016, which fell just below the $2-billion U.S. threshold. Betakit

Goldman Sachs Group Inc. is considering bulking up its research coverage of small– and mid-capitalization companies, even though Europe's MiFID II rules are likely to shrink trading volumes in those stocks, bank representatives said on a conference call last week. Bloomberg

SoftBank CEO Masa Son claims the company has already bagged $3-billion (U.S.) in profit. Recode

"Peak startup" is a phrase that no doubt strikes terror in the hearts of entrepreneurs and startup investors alike. But saying "peak startup" is not the same as saying that the market is at the very height of a bubble. TechCrunch

IN CASE YOU MISSED IT

Opinion: Got a problem with your bank? Canada's banking ombudsman probably can't help Story Rita Trichur (subscribers)

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 10:48am EDT.

SymbolName% changeLast
DB-N
Deutsche Bank Ag
-1.13%15.78
ECN-T
Ecn Capital Corp
+5.24%2.01
EFX-N
Equifax Inc
+1.1%265.29
GS-N
Goldman Sachs Group
+0.21%416.13
PFE-N
Pfizer Inc
+0.32%27.87
TRP-N
TC Energy Corp
+0.53%39.85
TRP-T
TC Energy Corp
+0.35%53.99
V-N
Visa Inc
-0.09%278.78

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