Bay Street law firms bulk up on restructuring partners as more COVID-19 insolvencies expected: Bay Street law firms are bringing on partners who work on corporate restructuring as they prepare for a wave of insolvencies to hit the Canadian economy when COVID-19 relief measures dry up and lenders start to lose patience with struggling businesses. (Christine Dobby)
Air Canada set to relaunch Aeroplan rewards program, despite pandemic restrictions: The new program was mostly ready when Canada’s economy went into lockdown in mid-March, but Air Canada and its banking partners delayed it to make tweaks, train a combined 100,000 people in call centres, branches and offices virtually, and spread the word about changes to members. (James Bradshaw)
Airbnb to confidentially file for IPO in August: report: Short-term home rental company Airbnb Inc. is close to confidentially filing paperwork for an initial public offering (IPO) with the U.S. Securities and Exchange Commission later in August, the Wall Street Journal reported on Tuesday. (Reuters)
SoftBank touts Vision Fund gains, ditches operating profit as yardstick: SoftBank Group Corp. broke with tradition on Tuesday and declined to disclose operating profit in its quarterly results, saying the measure was “not useful” to gauge performance, and instead pointed to a US$2.8-billion gain at its Vision Fund. (Reuters)
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