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Making sense of the markets this week: May 10, 2021 May 7th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Wealthsimple taps celebrities and nets a $5-billion valuation
In October of 2020, we reported on a previous round of financing for Wealthsimple. At that time, valuation estima.... More »
‘Borderlands 3’ Has Been Forced To Remove Crossplay Support For PlayStation - Forbes + MORE May 27th
‘Borderlands 3’ Has Been Forced To Remove Crossplay Support For PlayStation ForbesUncharted 4 coming to PC alongside other PlayStation exclusives MobileSyrupSony wants to grow from '160 million to 1 billion' users - and plans PlayStation Now investment to get there &nb.... More »
How are bonuses taxed in Canada? Feb 13th
If you’re fortunate enough to get a bonus from your employer this year, or if you’ve recently earned a pay bump, how should you spend it?
Maybe that money is already spoken for. Many Canadians are struggling financially right now, so a bonus or salary increase might simply help cover th.... More »
Top financial innovations of the last 25 years + MORE Feb 27th
To mark MoneySense’s 25th anniversary, we dove into the top innovations that have changed personal finance since this magazine was founded in 1999. From new registered accounts and investment products to online services and developments in artificial intelligence, these are some of the biggest.... More »
Toronto real estate agent reveals new details in killings of billionaires Barry and Honey Sherman - CBC.ca Oct 26th
CBC.caToronto real estate agent reveals new details in killings of billionaires Barry and Honey ShermanCBC.caAs the lawyer leading a team of private investigators looking into the murders of Honey and Barry Sherman gets set to announce new efforts to catch the couple's killers today, a Toronto .... More »
Bombardier signs deal to sell Aventra trains in United Kingdom
– canadianbusiness.com
BERLIN _ Bombardier Transportation (TSX:BBD.B) has signed a deal to supply 333 new rail cars, along with a contract for maintenance work, with a U.K. rail company.
Corelink Rail Infrastructure and West Midlands Trains will receive 333 new Bombardier Aventra vehicles for use on the United Kingdom’s West Midlands Trains franchise.
The rolling stock and maintenance contracts are worth about $928 million Canadian.
Bombardier will produce the electric carriages at its facility in Derby, England, with the new trains expected to be delivered between 2020 and 2022.
Bombardier was named the preferred bidder for the contract in October.
“Our modern Aventra trains will be built in the Midlands for the Midlands, and will transform the travel experience for passengers on the new West Midlands Trains franchise,” said Richard Hunter, the U.K. managing director for Bombardier Transportation.
“This is part of a huge investment happening up and down the country and will make a real difference to passengers,” said Chris Grayling, the U…
Corelink Rail Infrastructure and West Midlands Trains will receive 333 new Bombardier Aventra vehicles for use on the United Kingdom’s West Midlands Trains franchise.
The rolling stock and maintenance contracts are worth about $928 million Canadian.
Bombardier will produce the electric carriages at its facility in Derby, England, with the new trains expected to be delivered between 2020 and 2022.
Bombardier was named the preferred bidder for the contract in October.
“Our modern Aventra trains will be built in the Midlands for the Midlands, and will transform the travel experience for passengers on the new West Midlands Trains franchise,” said Richard Hunter, the U.K. managing director for Bombardier Transportation.
“This is part of a huge investment happening up and down the country and will make a real difference to passengers,” said Chris Grayling, the U…
Tech firms drive office-space crunch in downtown Toronto
– theglobeandmail.com
Demand has been strong for about a decade, but has now outstripped supply, as the tech industry joins financial services firms and other businesses in expanding their operations downtown
In the U.S., tech companies valued over $1 billion are known as “unicorns.” North of the border, they’re narwhals. (Photoillustration by Lauren Cattermole)One of the best-performing tech companies on a U.S. stock exchange over the past two years actually makes its home in Ottawa. Shopify went public in 2015, and shares are up more than fivefold since then.
Canada’s tech ecosystem is in rare form, with companies regularly raising nine-figure amounts from investors, and lots of young firms overcoming early challenges to rapidly grow revenue and head count. But investors and Canadian business boosters may have to wait. “Shopify isn’t just a once-in-a-generation Canadian story—it might be a once-in-a-generation global story,” says Karamdeep Nijjar, a partner at iNovia Capital, a venture capital firm. As retail continues to go digital, the number of online-only businesses will increase, giving the commerce platform a continuously expanding market to serve.
The next significant stock market debut by a Canadian firm could be a while in coming…
Streetwise newsletter: CIBC mulls offering Caribbean subsidiary; MTY strikes $248-million deal for Imvescor
– theglobeandmail.com
Plus: New wealth management firm sets sights on Canada's big banks
MTY Food Group growing beyond the food court with deal to buy Imvescor for $248M
– canadianbusiness.com
MONTREAL _ MTY Food Group Inc. is growing beyond the shopping mall food court with a $248-million stock-and-cash deal to buy Imvescor Restaurant Group Inc. and its full-service restaurant and grocery products businesses.
The friendly deal will bring together such MTY banners as Thai Express, Vanellis and Manchu Wok with Imvescor’s Baton Rouge, Pizza Delight and Scores restaurants to create a company with a portfolio of over 5,700 stores under 75 brands.
Under the deal, MTY (TSX:MTY) will pay $4.10 per share for Imvescor with the cash portion of the deal totalling about $50 million and the rest in stock.
The companies said Tuesday the offer implies a 13.3 per cent premium to Imvescor’s 10-day volume weighted average before it disclosed it had received a non-binding expression of interest from an unidentified potential buyer on Oct. 26.
However, stock in both companies fell after the announcement.
MTY shares were down 5.1 per cent at $51.76 while Imvescor shares fell 3.6 per cent to $4…
The friendly deal will bring together such MTY banners as Thai Express, Vanellis and Manchu Wok with Imvescor’s Baton Rouge, Pizza Delight and Scores restaurants to create a company with a portfolio of over 5,700 stores under 75 brands.
Under the deal, MTY (TSX:MTY) will pay $4.10 per share for Imvescor with the cash portion of the deal totalling about $50 million and the rest in stock.
The companies said Tuesday the offer implies a 13.3 per cent premium to Imvescor’s 10-day volume weighted average before it disclosed it had received a non-binding expression of interest from an unidentified potential buyer on Oct. 26.
However, stock in both companies fell after the announcement.
MTY shares were down 5.1 per cent at $51.76 while Imvescor shares fell 3.6 per cent to $4…
