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Streetwise newsletter: Troubles at Bloomberg TV Canada; Hydro One lawsuit dismissed

The appetite to buy Hydro One’s latest bought deal will likely spur other Canadian utility companies shopping for U.S. assets to consider a similar financing structure.

Fred Lum/The Globe and Mail

Bloomberg TV Canada is eliminating its two original in-house Canadian business programs, including its marquee evening interview show, in a move that sees more than 20 people lose their jobs. Story (Niall McGee, subscribers)

ELSEWHERE IN FINANCE

Not shopping around for financial products can cost you tens of thousands of dollars over a lifetime. It's just pathetic how often this happens. A recent survey commissioned by the website LowestRates.ca tells the story. Story (Rob Carrick)

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Top White House economic adviser Gary Cohn, who has been leading the Trump administration's effort to overhaul the U.S. tax code, will remain in his position as director of the National Economic Council, a White House official said. Story

An Ontario court has thrown out a lawsuit against the provincial government over the controversial partial sale of Hydro One. Story

Many of Canada's best corporate governance practices have been spurred on by shareholder proposals that were formally submitted for consideration at company annual meetings. Commentary

DEALS AND FINANCINGS

Lift Co Ltd., a Toronto cannabis media and technology company, has raised $3-million in a Series A financing. PE Hub

ZoomInfo, the subscription-based B2B platform that sells access to company data such as contact details, employment history, and other background information, was acquired earlier this week by Boston-based private equity firm Great Hill Partners. But the company didn't reveal how much it was acquired for – until now. A ZoomInfo spokesperson has confirmed to VentureBeat that it was acquired for $240-million (U.S.), and it said that it will continue to operate as is, except under the wing of its new owners. Venturebeat

Ripcord, a startup that's using robotics, machine vision, and artificial intelligence to create what it calls the "truly paperless workplace," has raised $40-million (U.S.) in a series B round of funding led by Icon Ventures, with participation from Kleiner Perkins, Lux Capital, and Silicon Valley Bank. Venturebeat

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WHAT WE'RE READING

Advisors wondering how Amazon will enter wealth management should look to its cloud computing arm, Amazon Web Services, which is pitching the natural language processing, machine-learning brain behind its voice interactive service to wirehouses, broker-dealers and robo advisors. FinancialPlanning

Do IR teams give sell-side analysts equal amounts of time? IR Magazine

Out Leadership, a New York-based group that supports lesbian, gay, bisexual or transgender people in business, estimates that only 10 board members of Fortune 500 companies – or –.3 per cent – are openly gay. It seeks to change that. Institutional Investor

Private equity capital raised set for 24 per cent increase in 2017, venture capital to eclipse $40-billion Pitchbook

IN CASE YOU MISSED IT

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The Canadian arm of U.S. mutual fund giant Fidelity Investments is gearing up to enter the crowded market for exchange-traded funds, with the company on the hunt for an executive to develop ETFs to sell in this country. Story (Clare O'Hara, subscribers)

The end of a two-decade partnership between CIBC and Loblaw ultimately came down to a mutual thirst for more control. Story (James Bradshaw, subscribers)

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