Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
Telus pension plan faces losses after Strategic’s Alberta properties placed in receivership: Telus Corp. and its employee retirement plans are facing a financial hit from the insolvency of Strategic Group’s Alberta real estate holdings because the telecom company is a major lender and its pension arm co-owns nearly half the properties. (Jeffrey Jones)
BlackRock joins investor group seeking emission curbs: Top asset manager BlackRock Inc said on Thursday it has joined the Climate Action 100+ investor group seeking emission curbs. (Reuters)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Kinder Morgan sells Pembina Pipeline shares for $764-million: Pipeline operator Kinder Morgan Inc. said on Thursday it sold the 25 million shares in Canada’s Pembina Pipeline Corp. that it received when Pembina bought Kinder Morgan Canada for $764-million. (Reuters)
IN CASE YOU MISSED IT
Teck signs deal with Ridley to double coal shipments through B.C.: Teck Resources Ltd. has struck a deal with Ridley Terminals Inc. to double, and perhaps triple, its shipments of steel-making coal through Prince Rupert, B.C., sending the shares of rival Westshore Terminals Investment Corp. to their lowest levels since 2016. (David Berman)
Catalyst extends life of $1-billion investment fund, says it needs more time to sell assets: Catalyst Capital Group Inc. has pushed back by one year the deadline for returning money to backers of one of its largest funds, and warned investors it might need another extension to buy time to cash in its holdings. (Andrew Willis)
Gateway puts Alberta casinos up for sale as it prepares to go public: Gateway Casinos & Entertainment Inc. has put its Alberta casinos up for sale as it prepares to go public in a reverse takeover of a U.S.-based special-purpose acquisition corporation, the company said on Tuesday. (Jeffrey Jones)
Banks face investor pressure to prepare for economic downturn: Canada’s banks are under intense pressure to prove to nervous shareholders that banks are adequately prepared to absorb loan losses when the next economic downturn arrives, according to Bank of Nova Scotia’s chief executive officer. (James Bradshaw)
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.