Here are the top reads on deals and financial services over the last 24 hours,
IPO: Shares of Tilray Inc. jumped more than 20 per cent on Thursday morning after the Canadian cannabis grower raised US$153-million in its initial public offering. Story (Christina Pellegrini, for subscribers)
IPO: For Tilray Inc., one of Canada’s oldest and largest legal producers of medical cannabis, it’s been a long road to the stock market. Story (Christina Pellegrini, for subscribers)
Mining: Should Detour Gold Corp. ever hang out a for-sale sign, a handful of large, respected rivals are expected to show interest, according to analysts at CIBC World Markets. At the top of the list are Barrick Gold Corp. and Goldcorp Inc. Story (Tim Kiladze, for subscribers)
Bank stocks: Analysts at RBC Dominion Securities have upgraded their recommendation on Bank of Montreal to “outperform” from “sector perform,” and investors who follow our strategy of buying laggard bank stocks will no doubt applaud the move. Story (David Berman, for subscribers)
Personal banking: The cost of making online banking safer means losing a little of the “anywhere, any time” convenience that makes it so great. You can see this trade-off in the reaction to a security process called two-step authentication that Toronto-Dominion Bank has been rolling out for the past couple of months. Opinion (Rob Carrick)
Taxes: A battle has erupted between the Canada Revenue Agency and day traders who argue that they’ve been unfairly targeted to repay millions of dollars in unpaid taxes because of their use of tax-free savings accounts. Story (Clare O’Hara, for subscribers)
MORE FINANCIAL SERVICES NEWS
Brexit: Britain’s banks and insurers must plan for a “hard” Brexit in case a transition period is not in place next March, a senior British regulator said on Thursday in a warning echoed by Brussels. Story
MORE DEALS NEWS
Media sector: Comcast Corp. dropped its US$66-billion bid for Twenty-First Century Fox Inc.’s entertainment assets on Thursday but said it would still try to expand its international footprint by acquiring 61 per cent of European broadcaster Sky PLC, the remainder of which is owned by Fox. Story (for subscribers)
Bond market: If there ever was a time for corporate Canada to be more adventurous in the bond market, it’s now. Yields on 30-year government debt have plunged to a more-than-a-decade low relative to the short end in the wake of the Bank of Canada’s latest interest-rate hike. That means there’s plenty of opportunity for issuers to lock in low borrowing costs for longer, especially since demand for long-term debt is “absolutely huge,” as BoC Governor Stephen Poloz said last week. Story
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