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A Bay Street sign in Toronto’s financial district.© Mark Blinch / Reuters

Volatility instruments: Last year, Steven Hawkins offered the kind of investment you dream of owning: An exchange-traded fund (ETF) that soared by 174.5 per cent as stock markets sailed along serenely. On Monday, that fund was part of a meltdown that took a big bite out of your RRSP. Story (Andrew Willis, for subscribers)

Bad timing: As global markets gyrate, shares of Element Fleet Management Corp., the brainchild of company founder and Bay Street financier Steve Hudson, plummeted 29 per cent in a single day after it announced the departure of its chief executive officer and the loss of a crucial customer. Story (Tim Kiladze, for subscribers)

Big deal explainer: The potential biggest tech merger of all time – between chip maker Broadcom and semi-conductor competitor Qualcomm Inc. – could happen in a matter of weeks amid the battle to power the world's devices. Story (Josh O'Kane)

Canadian venture financing:  The Toronto startup that just last week named long-time media executive Kirstine Stewart as its president is launching a venture-studio program, aiming to raise $100-million to connect early-stage entrepreneurs with legacy corporations. Story (Josh O'Kane)

FINANCIAL SERVICES WRAP

Financial products: An inventor of the VIX: 'I don't know why these products exist' Story

Insurance industry: Years of reckless decisions by the previous British Columbia Liberal administration have thrown the public auto insurer into chaos and forced the government to place a cap of $5,500 on accident pay-outs for pain and suffering, Attorney-General David Eby says. Story

U.S. insurance assets: Manulife Financial Corp is weighing the sale of a number of U.S. insurance assets after conducting a strategic review of its U.S. operations including John Hancock, people familiar with the plans say. Story

DEAL WRAP

Agro sector: Canadian fertilizer and farm supply dealer Nutrien Ltd is actively dealing with prospective buyers of its stakes in lithium producer SQM and Arab Potash Co Plc, its chief executive said on Tuesday. Story

U.S. venture financing: Quizlet, an online learning company best known for its automated study tools, announced today that it is taking on US$20 million in a series B round of funding to pursue artificial intelligence products. VentureBeat

U.S. venture financing: Keeping fit, it seems, is big business. And that is why myriad fitness-focused startups are securing cash from venture capitalists the world over. The latest such company is New York-based Mirror, which said that it's setting out to "revolutionize in-home workouts," and which has now raised US$13 million from Spark Capital, Lerer Hippeau, First Round Capital, Primary Venture Partners, BoxGroup, and Brainchild Holdings. VentureBeat

WHAT WE'RE READING ELSEWHERE

Why Spotify is skipping Wall Street: The streaming music company is opting for a direct listing when it goes public, bypassing the traditional approach for IPOs — and irritating investment banks. But will it live to regret the unusual move? Institutional Investor

Deal outlook: Now that the new tax law is freeing up big tech firms to bring back tens of billions of dollars stored overseas, a spate of new tech acquisitions may be on the horizon. And one of the most aggressive buyers is likely to be Cisco Systems. The Information

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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 30/05/24 4:00pm EDT.

SymbolName% changeLast
CSCO-Q
Cisco Systems Inc
+0.09%46.12
EFN-T
Element Fleet Management Corp
+1.4%23.96
MFC-N
Manulife Financial Corp
+0.12%25.66
MFC-T
Manulife Fin
-0.2%35.08
NTR-N
Nutrien Ltd
+0.47%57.31
NTR-T
Nutrien Ltd
+0.19%78.41
QCOM-Q
Qualcomm Inc
-1.26%204.8

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