Gateway Casinos receives $200-million in first funding under federal LEEFF program: The federal government is giving $200-million worth of assistance to Gateway Casinos & Entertainment Ltd., including the first loan to be advanced under a federal program designed to keep large employers afloat during the COVID-19 pandemic. (Mark Rendall)
Koho tech glitch caused allegedly fraudulent transactions: Koho Financial Inc. processed more than $1-million in allegedly fraudulent transactions after users exploited a glitch in the Power Corp.-backed mobile banking startup, according to sources familiar with the situation and internal company documentation. (Josh O’Kane)
Shale producer Devon Energy to buy peer WPX Energy for $2.56-billion: U.S. oil and gas producer Devon Energy Corp said on Monday it will buy Permian basin peer WPX Energy Inc for US$2.56-billion as it looks to boost its presence in the Delaware portion of the prolific shale field.(Reuters)
HSBC in final talks to sell French retail business at hefty loss, sources say: Cerberus and a rival investment firm have told HSBC they would buy its French retail arm for a symbolic one euro provided the British bank plows more than 500 million euros (US$582.70-million) into the business, sources say. HSBC is working with Lazard to sell its 270 retail branches in France as part of a strategy to slash costs across the banking group. (Reuters)
Investors swamp IPO for K-Pop band BTS management label, prices at top of range: Big Hit Entertainment, the management label of hugely popular South Korean K-Pop group BTS, priced its initial public offering at the top of its range on Monday, as hopeful buyers chased South Korea’s largest listing in three years. (Reuters)
Inter Pipeline to acquire Milk River pipeline in swap deal with Plains: Inter Pipeline Ltd. has signed a deal to acquire the Milk River pipeline system from a subsidiary of Plains All American Pipeline LP, in exchange for its 100 per cent ownership interest in the Empress II and 50 per cent ownership interest in the Empress V straddle plants. (The Canadian Press)
JPMorgan pushes payment fraud protection for small business customers: JPMorgan Chase & Co., the largest lender in the United States, is stepping up payment fraud protections for its small and mid-sized business customers, which continue to be targeted by scammers - particularly amid the COVID-19 pandemic. (Reuters)
Plains will also pay Inter Pipeline $35 million in cash.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.