The Bay Street sign is shown in the heart of the financial district as people walk by in Toronto.MARK BLINCH/Reuters
Good morning. Here are the best Streetwise and financial services stories we covered during the week. Have a great weekend.
After a dreadful debut from Roots Corp. earlier in the week, investors warmly welcomed the initial public offering (IPO) of Nexa Resources SA, which took off on its first day of trading on the Toronto and New York Stock Exchanges on Friday. Niall McGee Story
The Toronto Stock Exchange's parent company is buying a British-based provider of software for energy traders, brokers and exchanges for $931-million in a deal that shifts control over oil-and-gas trading platforms in Canada. Christina Pellegrini and Jeffrey Jones Story (subscribers)
Murray Goulburn Co-operative, Australia's largest milk processor, on Friday said it agreed to a buyout from Canadian dairy company Saputo Inc worth up to A$637.8-million ($488-million). Story
The outcome of a potential national-security review is a risk to a Chinese construction company completing a $1.45-billion takeover of Canada's Aecon Group Inc., even as the target's chief executive plays down the possibility. Jeff Jones Story
Faced with increasing competition at home and abroad, Aecon's CEO opted Thursday to sell the 140-year-old company to Beijing-based China Communications Construction Co. Ltd. (CCCC) for $1.45-billion. Story Andrew Willis and Jeffrey Jones (subscribers)
The Chinese state-owned firm that is buying Canada's largest publicly traded construction firm helped Beijing build artificial islands in the disputed South China Sea and was barred until recently from bidding on World Bank projects over "fraudulent practices." Story Steven Chase and Robert Fife (subscribers)
A unit of Brookfield Asset Management Inc. has bought the Sheraton hotel in downtown Toronto in a blockbuster $335-million deal that is the largest transaction for a single hotel in Canada. Jacqueline Nelson and Rachelle Younglai Story
For most large companies involved in cross-border contracts, international commercial arbitration is the preferred means of dispute resolution, owing to the certainty that arbitration agreements will be respected by domestic courts and awards will be enforceable. With the exceptions of Ontario and Quebec, however, Canada's provinces have arguably failed to keep their statutes relating to international commercial arbitration up to date compared with other jurisdictions. Lexpert
A group of institutional investors is demanding that Canadian public companies improve their disclosure on climate change-related risks and the steps they are taking to reduce them. Jacqueline Nelson Story (subscribers)
Brookfield Properties Corp.has put a key piece of Toronto's financial district on the auction block. The major Canadian commercial property owner is seeking as much as $1-billion for a 50-per-cent stake in the Bay Adelaide Centre, according to people familiar with the matter, as the company retools its portfolio amid a multiyear boom in commercial real estate. Story Rachelle Younglai (subscribers)
Shares in Canadian clothing firm Roots Corp. dropped sharply in their stock market debut on Wednesday – a rare flame-out in what has been a banner year for initial public offerings in Canada. Story Niall McGee (subscribers)
Following in the footsteps of Berkshire Hathaway, ECN Capital Corp. is moving into lending on affordable housing by acquiring Florida-based Triad Financial Services Inc. for $100-million (U.S.). Story Andrew Willis (subscribers)
The campaign for change at Power shines a bright light on a decade of poor stock-market performance from a $14-billion company that's iconic in Quebec business circles. Story Andrew Willis (for subscribers)
Power Corp. of Canada should offload a number of non-core assets that could fetch about $10-billion in a move he said would unlock shareholder value at the diversified holding company. Story
Got a problem with your bank? Canada's banking ombudsman probably can't help. Column Rita Trichur (for subscribers)
Money manager Sentry Investments has appointed James Dutkiewicz as its new chief investment officer following Gaelen Morphet's departure. The departure of Ms. Morphet comes on the heels of CI Financial's acquisition of Sentry earlier this summer. Story Clare O'Hara (for subscribers)
Macquarie analyst Mike Rizvanovic initiated coverage on the big six Canadian banks, saying he sees a "very challenging" outlook for big six in the near-term on multiple fronts, which he said is "not fully appreciated" by the market. Story David Leeder (for subscribers)
Kindred Systems Inc., a smart-robot manufacturing startup co-founded by Canadian inventor and theoretical physicist Geordie Rose, has secured $28-million (U.S.) in a venture financing deal led by Chinese internet giant Tencent Holdings Ltd., which is quickly emerging as one of the most active foreign investors in the North American startup space. Story Sean Silcoff
Hudson's Bay Co. has a $1-billion deal to sell its Lord & Taylor flagship store in New York to WeWork Cos. Inc. while teaming up with the office-sharing business to run its operations in parts of HBC's stores – the latest example of a retailer trying to find new uses for its under-used physical stores. Story Marina Strauss
Opinion: Andrew Willis: How to fix Canada's high-tech losing streak Video
Ottawa's new stress-test rules for mortgages will make it harder for homeowners to shop around and switch lenders when their loans come up for renewal, critics of the regulations say. Story James Bradshaw (subscribers)
Saving for retirement isn't a top priority for many young professionals, but Great-West Lifeco Inc. thinks it can change that by addressing heavy student debt loads. Story Jacqueline Nelson
Aphria Inc., a Canadian cannabis company with investments in the United States, says it met with officials from the Toronto Stock Exchange last Friday, days after the TSX threatened to delist companies that violate U.S. federal drug laws. Story Christina Pellegrini (subscribers)
More than a year in the making, the merger of Potash Corp. of Saskatchewan Inc. and Agrium Inc. looks to be inching to completion. Story Jeffrey Jones (subscribers)
Activist investor Jonathan Litt ratcheted up pressure on Hudson's Bay Co on Monday, calling a special shareholder meeting potentially to remove directors, in a sign of escalating tension between two investors who hold different views about the future of the department store operator. Story