Canadian bank headquarters stand on Bay Street in TorontoBrent Lewin/Bloomberg
Canadian marijuana firms are facing a fork in the road over their exposure to the United States. Two separate deals unveiled Tuesday highlight the extremes of the dilemma: Leave the growing market south of the border completely or push even deeper. Story (Christina Pellegrini, for subscribers)
The leader of Canada's fast-growing meal-kit delivery market is holding firm to plans to go public as early as next year, despite a choppy reception to a spate of rival offerings this year. Story (Sean Silcoff, for subscribers)
Brian Porter repeats something so frequently it's almost an incantation. Since taking over as Bank of Nova Scotia's chief executive officer four years ago, he's constantly stressed an international strategy that is uber-focused on Mexico, Chile, Colombia and Peru. Story (Tim Kiladze, for subscribers)
Scotiabank says it has submitted an offer to buy a majority stake in a Chilean bank for $2.9-billion. Story
Bank of Nova Scotia led off the fourth-quarter earnings season for Canada's largest banks with a 3-per-cent bump in profit and bid $2.9-billion for a majority stake in a Chilean bank. Story (James Bradshaw)
Goldman Sachs Group is among around five bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia, for which it is seeking up to $1-billion (U.S.), sources with knowledge of the matter told Reuters. Story
ELSEWHERE IN FINANCIAL SERVICES
Canadian mortgage lender Home Capital Group Inc said on Tuesday that West Face Long Term Opportunities Global Master LP had sent it a draft statement alleging misrepresentation and claiming $70-million in damages. Story
Britain's banks could cope with a "disorderly" Brexit without needing to curb lending or be bailed out by taxpayers, the Bank of England said on Tuesday after carrying out its annual health check on lenders. Story
DAILY DEALS
Japan's SoftBank Group Corp is offering to purchase shares of Uber Technologies Inc at a valuation of $48-billion, a 30 per cent discount to its most recent valuation of $68.5-billion, a person familiar with the matter said on Monday. Story
CT Real Estate Investment Trust has signed a deal to buy seven properties from RioCan Real Estate Investment Trust for $200-million. Story
1QB Information Technologies Inc. (1QBit) has officially announced the closing of $45-million "Series B" round led by Fujitsu Limited, with additional strategic investment by Accenture, Allianz, The Royal Bank of Scotland, and CME Ventures. Private Capital Journal
WHAT WE'RE READING
Anglo-Dutch oil company Royal Dutch Shell radically revised its climate change policy today in the wake of sustained lobbying from institutional investors. Institutional Investor