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A Bay street sign is seen in Toronto’s financial district.Mark Blinch/The Globe and Mail

Canada's largest construction companies are urging the federal government to block the proposed $1.5-billion acquisition of Aecon Group Inc., a major domestic rival, by a state-controlled Chinese firm. Story (Andrew Willis, Jeffrey Jones, Steven Chase, for subscribers)

Vention Inc., which helps other firms build machines, has raised $3.5-million in seed financing led by White Star Capital with backing from early investors Bolt Innovation Management of Boston, Montreal's Real Ventures, and several prominent North American tech executives including serial Montreal tech entrepreneur Louis Tetu. Story (Sean Silcoff, for subscribers)

One of Canada's best known mining bankers has jumped to a junior gold company. Story (Niall McGee, for subscribers)

For the second time in as many months, a surprising shakeup in the American insurance market has dimmed the prospects for one of Manulife Financial Corp.'s most troublesome businesses, suggesting once again that the fixes promised by the insurer's newly minted chief executive officer will come with costs attached. Story (Tim Kiladze, for subscribers)

Nick Thadaney is leaving TMX Group Ltd. as part of a broader shuffle at the top ranks of Canada's largest stock market operator. Story (Christina Pellegrini, for subsdribers)

DEAL WRAP

Pitch elsewhere: Canadian gold miner Goldcorp Inc. is "done" with mergers and acquisitions and will focus on building new mines at projects it already owns and on improving existing operations, chief executive David Garofalo said on Tuesday. Story

Canadian startup bought: Instacart Inc. said it agreed to acquire Toronto-based startup Unata Inc., giving the grocery-delivery company new kinds of e-commerce tools and a path to expand in Canada. Story

Candy deal: Swiss food group Nestle has agreed to sell its U.S. confectionery business to Italy's Ferrero for $2.8-billion (U.S.), it said on Tuesday, marking CEO Mark Schneider's first big sale and a small step on its path towards healthier products. Story (for subscribers)

U.S. venture financing: Bringg, a delivery logistics platform for enterprises, said it has raised $12-million (U.S) in funding from strategic partners, bringing its total second round to $22-million. The round includes automotive investor Shmuel Harlap, shipping and real estate magnate Eyal Ofer, and Salesforce Ventures. VentureBeat

U.S. venture financing: Jump Bikes, formerly known as Social Bicycles, announced today that it has raised $10-million (U.S.) in funding to further expand its dockless electric bike sharing service. Menlo Ventures led the round, with participation from Sinewave Ventures and existing investors Esther Dyson, SOSV, and OurCrowd. VentureBeat

FINANCIAL SERVICES WRAP

Bond trading hit: Citigroup Inc. posted an $18-billion (U.S.) quarterly loss on Tuesday because of charges related to a new U.S. tax law, but its adjusted earnings beat Wall Street expectations and management signalled that the bank may soon lift financial performance targets. Story

BMO CEO Darryl White: World Economic Forum in Davos needs to foster spirit of openness on free trade. Opinion (for subscribers)

WHAT WE'RE READING ELSEWHERE

Fintech leaders: A rundown of the talent that made Institutional Investor's 2017 Fintech Finance 40 ranking, a group that's helping to move innovative ideas from the laboratory to commercial viability. Institutional Investor

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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 24/05/24 7:00pm EDT.

SymbolName% changeLast
ARE-T
Aecon Group Inc
-0.41%16.86
C-N
Citigroup Inc
+0.89%63.58
FC-N
Franklin Covey Company
+0.81%37.45
G-N
Genpact Ltd
-0.95%33.51
G-T
Augusta Gold Corp
0%1.1
MFC-N
Manulife Financial Corp
+1.53%26.54
MFC-T
Manulife Fin
+0.58%36.52
X-T
TMX Group Ltd
+0.22%37.11

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