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

Here are the top reads,

Earnings: Bank of Nova Scotia reported first-quarter profit that topped market estimates and raised its dividend, boosted by strong gains in its Canadian and international banking operations. Story (James Bradshaw)

More earnings: Bank of Montreal carried on a trend of better-than-expected profits for Canada's largest banks, even as its absorbed a $425-million writedown due to U.S. tax changes. Story (James Bradshaw)

Inside BMO's conference call: Why BMO's chief risk officer isn't worried about loan losses Story (James Bradshaw, for subscribers)

Capital markets earnings: The capital-markets arms of two of Canada's biggest banks saw their first-quarter profits decline, but executives said improved stock market conditions bode well for the quarter ahead. Story (Alexandra Posadzki, for subscribers)

Regulators: Maricann Group Inc., an emerging marijuana producer, is facing scrutiny from the country's largest securities regulator over its disclosure before a proposed equity financing in late January. Story (Tim Kiladze, for subscribers)

Federal budget 2018: Seven changes that could affect your finances Story (Rob Carrick, for subscribers)

Cryptocurrencies: Financial institutions must not ignore risks of cryptocurrencies Opinion (David Mussington)


Regulators: Craig Wright, the self-proclaimed inventor of bitcoin, is accused of swindling more than US$5-billion worth of the cryptocurrency and other assets from the estate of a computer-security expert. Story


Oil sector: Exxon Mobil Corp is selling its entire stake in the Terra Nova project off the eastern coast of Canada, according to data from Schlumberger's oil and gas asset sale business. Story

Takeover battle: Comcast may have found a way to disrupt Walt Disney Co.'s plan to buy most of Twenty-First Century Fox: topping Fox's bid to buy the British satellite broadcaster Sky with its own US$31-billion takeover offer. Story

Gaming sector: The Stars Group Inc. has acquired majority ownership of Australia's CrownBet Holdings Pty Ltd., which operates a regulated sports betting market. Story

Canadian startups: Toronto-based online photography market place 500px has been acquired by Visual China Group, a public image licensing company based in Beijing. BetaKit

U.S. venture capital: Cryptocurrencies are changing the world, but not without encountering some challenges. One major issue? Volatility. Havven, a decentralised payment network and stablecoin, announced that it has secured US$25-million in pledged funds. VentureBeat

Tech sector: Big data-crunching platform Splunk has announced plans to acquire Phantom Cyber Corporation ("Phantom"), a security automation and orchestration platform, in a deal worth US$350-million. VentureBeat


Comp: The average hedge fund portfolio manager in Europe earned US$573,761 last year – a pay package many expect to near US$900,000 by 2019. 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 23/05/24 4:00pm EDT.

SymbolName% changeLast
Bank of Montreal
Bank of Montreal
Bank of Nova Scotia
Bank of Nova Scotia
Walt Disney Company
Exxon Mobil Corp

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