Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
Ontario’s financial regulator begins process to hand back control of PACE credit union to members: Ontario’s financial regulator is preparing to hand control of PACE Savings and Credit Union back to its members after holding a vote Monday to elect a new board of directors. (James Bradshaw)
More than 60 per cent of companies in Canada have boards composed entirely of men: Women held fewer than one-fifth of director seats at corporate boards in 2017, while more than 60 per cent of boards were composed entirely of men, a new Statistics Canada study shows. (Matt Lundy)
Alternative mortgage lending jumped mid-year in 2019: Alternative mortgage lending jumped in the spring of last year, according to new data from Statistics Canada, as the country’s housing market started to rebound after a slowdown caused by stricter mortgage rules and rising interest rates. (Rachelle Younglai)
Brookfield gets approval from Brazil antitrust regulator for solar power plants: Brookfield Asset Management Inc has received the go-ahead from Brazilian antitrust regulator Cade for certain solar energy projects in the country’s northeast, according to a decision published in the government’s official gazette on Tuesday. (Reuters)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Kirkland Lake wins shareholder backing for Detour takeover: Shareholders at both Detour Gold Corp. and Kirkland Lake Gold Ltd. voted decisively in favour of Kirkland’s $4.9-billion acquisition of Detour on Tuesday, in a deal that sees the world’s most profitable large gold mining company buy a struggling single-asset producer smack in the middle of a turnaround. (Niall McGee)
Telus leads $120-million investment in Ontario urban-tech startup Miovision: Telus Corp.'s venture arm is leading a $120-million investment in urban-tech company Miovision Technologies Inc. to help it deploy its traffic-signal-management platform more quickly worldwide. (Josh O’Kane)
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