Brookfield to provide $5-billion to cash-strapped retailers for stake in business: Brookfield Asset Management Inc. plans to spend US$5-billion to prop up retailers hit by the coronavirus pandemic, in an attempt to find investment opportunities in the retail carnage while mitigating the company’s significant exposure to malls. (Rachelle Younglai)
Neiman Marcus’s bankruptcy filing wipes out Canada Pension Plan’s stake in the company: U.S. luxury retailer Neiman Marcus Group Inc. filed for Chapter 11 bankruptcy protection on Thursday with plans for a restructuring that would wipe out the equity of its owners – including the Canada Pension Plan Investment Board. (David Milstead)
Manulife CEO urges countries to move slowly on reopening to avoid a second wave of disease: Although his company has seen profits tumble so far this year, Manulife Financial Corp. CEO Roy Gori says jurisdictions should not rush to reopen because another wave of COVID-19 could create greater economic and social devastation than the global economy has already seen. (Clare O’Hara)
Calgary’s Symend raises $52-million for AI software that uses emoticons, friendly approach to chase late bill payers: A Calgary startup that combines artificial intelligence, behavioural science and compassion to help large billers collect from delinquent customers has raised one of the city’s largest venture capital financings. (Sean Silcoff)
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