The "Big Four" banks TD Bank, CIBC, Scotiabank, and Bank of Montreal line the Toronto skyline on August 29, 2014. (Michelle Siu for The Globe and Mail) aerial, office towersMichelle Siu/The Globe and Mail
More Canadian banks and possibly life insurers are expected to follow Scotiabank's lead and take advantage of a novel source of funding – a hybrid security – that has proven to be a hit with investors, bankers and analysts say. Story (Christina Pellegrini and Niall McGee, for subscribers)
A new investment fund backed by financial heavyweights is looking to spur the development of emerging banking, insurance and investment technology in Canada. Story (Jacqueline Nelson, for subscribers)
After spending two decades acquiring malls and office towers, many major pension funds and insurers are turning their formidable buying power toward the old-school world of rental apartment buildings. Story (Janet McFarland, for subscribers)
Canadian cryptocurrency proponents are pushing for more lenient policies toward initial coin offerings, arguing that Canada risks losing innovation and talent to other jurisdictions under the current rules. Story (Alexandra Posadzki, for subscribers)
After spending the best part of five years in the doghouse, mining is staging a comeback on the Canadian initial public offering) market. Story (Niall McGee, for subscribers)
DAILY DEALS
Pfizer said on Tuesday it was considering the sale or spin-off of its consumer health care business, shaking up the industry and potentially putting a headache-pill-to-lip-balm operation worth some $15-billion up for grabs. Story
Brookfield Asset Management's Public Securities Group has agreed to buy Center Coast Capital Holdings, an energy infrastructure-focused investment firm, according to a statement on Tuesday. Story
No. 1 U.S. auto maker General Motors Co. said it would buy Strobe Inc., which uses technology to help self-driving cars identify objects at a distance, to speed up development of autonomous vehicles and slash sensor costs. Story
Toronto-based Drop, a mobile app that allows users to collect points on top of their usual loyalty programs, has launched in the U.S. backed by a $5.5-million seed round. Story (Betakit)
Toronto-based Nuco has raised $27-million to build its interoperable blockchain network, called Aion. The goal is to build a platform that connects compatible blockchains operated independently to allow the instant, global transfer and recording of data and value. Story (Betakit)
Mapbox, a location-focused data platform for web and mobile app developers, has raised a gargantuan $164-million in a Series C round of funding led by SoftBank's Vision Fund, with participation from existing investors, which include Foundry Group, DFJ Growth, DBL Partners, and Thrive Capital. Story (VentureBeat)
ELSEWHERE IN FINANCIAL SERVICES
Opinion: Is fintech a threat to Canadian banks? Column (George Athanassakos)
Insured losses in the United States from Hurricane Nate will be close to $500-million, catastrophe modelling company Karen Clark & Company (KCC) said on Monday. Story
WHAT WE'RE READING
Birch Hill Equity Partners' recent wrap-up of its buy of CCM Hockey signals the start of a potentially fierce contest between hockey brands acquired this year by private equity firms. Story (PE Hub)
JPMorgan Chase & Co. once again took the crown as the best American research firm, with the bank's analysts recognized in 42 or the 60 investment sectors covered. Story (Institutional Investor)
The longtime top trader for Steven A. Cohen, the deposed hedge fund kingpin, is leaving – just months before Mr. Cohen is expected to re-enter the hedge fund game. Story (New York Times)