Thomson Reuters acquires digital court service CaseLines: CaseLines, the UK-based digital court platform, was acquired last week by news and information provider Thomson Reuters Corp. for an undisclosed sum. Courts in the UK have been using the company’s document- and evidence-sharing platform for several years, and Toronto-headquartered Thomson Reuters said the deal is part of a strategy to offer legal solutions internationally. (Christine Dobby)
Waterous Energy Fund consolidates oil and gas holdings: Waterous Energy Fund (WEF), run by former investment banker Adam Waterous, is merging Strath Resources and Cona Resources, a move it says will create the continent’s largest private equity-owned oil and gas producer. (Jeffrey Jones)
Entertainment veterans team up to build massive e-sports platform: A collection of proven entertainment executives, including the owner of the Vancouver Canucks, are combining forces to build North America’s largest e-sports platform, Enthusiast Gaming Holdings Inc. And the Trump and Biden presidential campaigns are taking notice of Toronto-based Enthusiast’s growing audience of gamers. (Andrew Willis)
Key mortgage stress test rate eases, gives borrowers a little more room: House-hunting Canadians saw their buying power increase this week as the benchmark five-year mortgage rate reported by the Bank of Canada fell for the third time this year, easing a key stress test faced by borrowers. The central bank said the rate fell to 4.79 per cent, after decreasing to 4.94 per cent in May and to 5.04 per cent in March. (Canadian Press)
Chinese firms flood into U.S. IPOs despite delisting threat: Despite the threat and rising U.S.-China tensions, the allure of a valuation on the world’s deepest stock market makes the risk of eventual delisting manageable, while financial-technology companies find the regulatory burden of a U.S. listing lighter than that in mainland China or Hong Kong, companies, advisers and investors say. (Reuters)
Investment dealer GMP Capital reworks wealth management takeover to reflect pandemic impact: On Thursday, GMP Capital announced that shareholders will receive an additional 15 cents a share, or a total of $11.3-million, in a special dividend. It also said the Richardson clan will leave additional capital in the company to fund expansion by keeping $32.1-million invested in preferred shares, a holding the family was required to redeem. (Andrew Willis)
CMHC plea over high-risk mortgages angers lenders: A sharply worded letter sent by the head of Canada’s national housing agency has upset many in the senior ranks of mortgage lenders whose business he is trying to win back. Canada Mortgage and Housing Corp. chief executive officer Evan Siddall fired a broadside this week after his decision to tighten criteria for mortgage insurance this summer led to a precipitous decline in the agency’s market share. (James Bradshaw)
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)
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)
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