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Over the past 10 years, Bay Street’s best-rated stocks failed to beat the S&P/TSX composite index.

Mark Blinch/The Globe and Mail

Infrastructure Bank startup: The Canada Infrastructure Bank is heading into its first full year of operation without a permanent CEO, but the bank's chair is hoping the $35-billion entity will be in a position to start approving projects by the end of 2018. Story (Bill Curry, for subscribers)

People move: Jimmy Shan, a managing director in equity research at GMP, is leaving the independent dealer to work for Slate Asset Management. Story (Tim Kiladze, for subscribers)

Pot ETFs: Investors looking to jump into pot stocks may soon be able to do so with an additional Canadian-listed exchange traded fund that focuses on the marijuana industry. Story (Clare O'Hara, for subscribers)

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FINANCIAL SERVICES WRAP

Berkshire potential successors: Berkshire Hathaway Inc. on Wednesday promoted two of its top executives, Gregory Abel and Ajit Jain, cementing their widely viewed status as potential successors to Warren Buffett as the conglomerate's chief executive. Story

DEALS WRAP

Sears funding: Struggling retailer Sears Holding Corp said on Wednesday it raised $100-million in funding and was in talks with lenders to improve the terms on its more than $1-billion of non-first lien debt, sending its shares up 5 per cent in premarket trading. Story (for subscribers)

Canadian startup financing: Montreal-based Mylo — which allows users to round up their purchases and invest the spare change — has raised a $2-million round of seed funding led by Desjardins Capital, Robert Raich and founding investor Ferst Capital Partners. BetaKit

Private takeout: Ergoresearch Ltd. has reached a going-private agreement with a corporation controlled by Sylvain Boucher and Danielle Boucher in partnership with Walter Capital Partners Inc. Private Capital Journal

U.S. startup financing: Fledgling fintech startup Petal has raised $13 million (U.S.) in a series A round of funding led by Peter Thiel's Valar Ventures. Founded out of New York in 2015, Petal is setting out to provide an alternative credit card that doesn't rely on traditional credit scores for consumers to qualify. VentureBeat

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Chocolate buyer: Food giant Nestle plans to pick a buyer for its U.S. chocolate business by the end of this week, three sources close to the matter said on Wednesday, in a deal expected to top $2.5 billion (U.S.). Reuters

WHAT WE'RE READING ELSEWHERE

Venture financing: For Canada's venture capital market, 2017 was a remarkable year. It included the largest financing of a local IT company in 25 years (Lightspeed); the largest round on record for an artificial-intelligence startup (Element AI), and strategic funding of a top maker of laser sensors used in self-driving cars (LeddarTech). They were among Canada's top 10 venture-capital financings last year. Pe Hub

IN CASE YOU MISSED IT

Toronto-Dominion Bank has agreed to buy a one-year-old artificial-intelligence startup with just 17 employees for more than $100-million (U.S.), snapping up Canadian machine-learning talent that has been in hot demand from the world's technology giants. Story (Sean Silcoff, for subscribers)

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