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Canadian bank headquarters stand on Bay Street in Toronto on Monday August 29, 2011. Bay Street is the centre of Toronto's Financial District and is often used by metonymy to refer to Canada's financial industry Photographer: Brent Lewin/BloombergBrent Lewin/The Globe and Mail

TD's $100-million AI play: 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.), paying dearly for Canadian machine-learning talent that has been in hot demand from the world's technology giants. Story (Sean Silcoff, for subscribers)

Soaring marijuana stocks blunt deals: The frenzied run-up in marijuana stocks is threatening the sector's highest-profile takeover deals. Story (Christina Pellegrini and Jeffrey Jones, for subscribers)

Banks on Trump tax changes: Some of Canada's biggest banks are bracing to take a one-time hit to profits as a result of major tax cuts in the United States, but they expect to earn any short-term losses back in spades. Story (James Bradshaw)

Waterloo software firm financing: One of Waterloo, Ont.'s emerging software stars, Igloo Inc., has attracted $47-million (U.S.) in investment capital from U.S. private equity giant Frontier Capital. Story (Sean Silcoff, for subscribers)

Industrial REITs still count: Some real estate owners have actually profited from the digital push, particularly those with industrial properties dominating their portfolios. Story (Tim Kiladze, for subscribers)

ATB boosts AltaCorp stake: ATB Financial, Alberta's government-owned bank, has taken a majority interest in AltaCorp Capital Inc. following the death of its founder, George Gosbee. Story (Jeffrey Jones, for subscribers)

HBC eyes store redevelopment: Hudson's Bay Co. is taking steps to drive up the price of its flagship Vancouver store as it officially puts a "for sale" sign on the property. Story (Rachelle Younglai)

PEOPLE MOVES

PI Financial hires mining research head: Independent investment bank PI Financial Corp. has hired a new mining research head, snagging a veteran analyst amid a resurgence for junior mining companies. Story (Tim Kiladze, for subscribers)

Jefferies poaches RBC bankers: Jefferies has hired Dai Clement and Lorna Shearin from Royal Bank of Canada to develop its power, utilities and infrastructure business, as part of a wider investment banking expansion, banking sources said on Tuesday. Story

FINANCIAL SERVICES WRAP

Bank capital rules: Canada's banking regulator said on Tuesday it would introduce new capital rules stricter than those proposed by global regulators to ensure banks can withstand financial shocks. Story

DEAL WRAP

Lacavera taking blockchain firm public: Canadian entrepreneur Anthony Lacavera, best-known for shaking up the country's wireless industry by founding Wind Mobile, plans to take a new company public that's focused on the latest technology craze: blockchain. Story

GFL Hires Bankers: Canadian waste management firm GFL Environmental Inc. is working with Royal Bank of Canada, Goldman Sachs Group Inc. and Bank of Montreal to lead its initial public offering this year, according to people familiar with the matter. Bloomberg

Pinnacle IPO: Pinnacle Renewable Holdings Inc. has filed an amendment to its preliminary prospectus for the proposed initial public offering and secondary offering of common shares. Private Capital Journal

GoPro considering selling itself: GoPro Inc is considering selling itself and has hired J.P. Morgan to help it with the process, a source familiar with the matter told Reuters on Monday. Story

WHAT WE'RE READING ELSEWHERE

MiFID Seen Driving Research Budget Cuts: European fund managers have cut their 2018 investment research budgets by 20 percent as they scale back the number of providers they use in response to MiFID II. Bloomberg

Mifid II setback: European regulators late on Tuesday abruptly delayed the introduction of Mifid II rules that form a key part of their push for greater transparency in share market trading. Financial Times

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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 17/05/24 4:00pm EDT.

SymbolName% changeLast
BMO-N
Bank of Montreal
+0.82%95.22
BMO-T
Bank of Montreal
+0.79%129.63
GPRO-Q
Gopro Inc Cl A
-1.82%1.62
GS-N
Goldman Sachs Group
+0.69%467.72
RY-N
Royal Bank of Canada
+0.75%106.79
RY-T
Royal Bank of Canada
+0.71%145.34

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