Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
Bondfield auditor resigned over fraud concerns, according to court documents: External auditors for Bondfield Construction Company Ltd. suspected possible fraud at the company six years before its collapse – prompting them to resign and warn their successors, court documents allege. (Greg McArthur and Karen Howlett)
HBC chair Richard Baker wins shareholder backing to take Canada’s oldest retailer private: Hudson’s Bay Co. executive chairman Richard Baker plans an online turnaround at Canada’s oldest retailer after he won shareholder approval on Thursday to take the unprofitable department store chain private. (Susan Krashinsky Robertson and Rachelle Younglai)
TD shares slide as profits miss estimates: Tighter lending margins and falling trading commissions squeezed first-quarter profits at Toronto-Dominion Bank, a rare stumble capping off a string of good results by Canadian banks. (James Bradshaw)
Ontario court clears class action to proceed against TD over fees charged on mutual fund sales: An Ontario court has green-lit the first in a series of class-action lawsuits against the investment arms of Canadian banks in a dispute over millions of dollars in commissions paid by do-it-yourself investors for advice they did not receive. (Clare O’Hara)
Capital spending set to hit record, but private sector lags: Capital spending in Canada is expected to hit a record in 2020 that is entirely driven by construction activity, but also shows ongoing weakness from private-sector companies. (Matt Lundy)
The Streetwise newsletter is Monday to Friday. If you’re reading this on the web, or if someone forwarded this e-mail to you, you can sign up for Streetwise and all Globe newsletters on our signup page.