A Bay street sign is seen in Toronto’s financial district.Mark Blinch/The Globe and Mail
Executives shuffle: A trio of veteran executives at the Canada Pension Plan Investment Board announced plans to depart on Monday as the $328-billion fund manager moves new managers into key roles. Story (Andrew Willis and Jacqueline Nelson, for subscribers)
Bricks and mortar investment: Aurora Cannabis Inc. is making a big wager on recreational marijuana retailing, saying it has struck a eal to acquire a 19.9-per-cent stake in Edmonton-based Liquor Stores N.A. Ltd. for $103.5-million in cash, with a plan to increase that to 40 per cent. Story (Christina Pellegrini and Jeffrey Jones, for subscribers)
Money laundering: An Ontario judge swiftly dismissed an unusual request to obtain sensitive financial records made by a group pursuing allegations of money laundering involving an Ottawa real estate firm with family ties to Malaysian officials. Story (James Bradshaw, for subscribers)
IPO filing: U.S. mining company Tacora Resources Inc. has filed for an initial public offering (IPO) on the Toronto Stock Exchange, with a plan to restart a shuttered iron ore mine in Newfoundland and Labrador. Story (Niall McGee)
Rescue investor: Fairfax Financial Holdings Ltd. is preparing to acquire Carillion Canada's core businesses, separating a portion of the company from collapsing U.K. construction giant Carillion PLC. Story (Jacqueline Nelson)
Revamp: After more than a decade of frustration and false starts, Canadian payments processor Interac has succeeded at overhauling its corporate structure in an effort to funnel more money toward developing new ways to pay. Story (James Bradshaw, for subscribers)
FINANCIAL SERVICES WRAP
Credit cards: Canada's biggest banks still allow customers to buy Bitcoin and other cryptocurrencies with debit and credit cards, even as some U.S. lenders move to block such transactions. Story
Wealth management: Global institutional pension fund assets in the world's 22 biggest markets hit a record US$41.3-trillion (£29.22 trillion) in 2017, a study on Monday showed. Story
DEAL WRAP
Tech sector: Broadcom Ltd made a US$121 billion "best and final offer" on Monday to acquire Qualcomm Inc , ratcheting up pressure on its U.S. semiconductor peer to engage in talks on what would be the biggest ever technology acquisition. Story
Pot sector: Aphria Inc. has signed a deal to sell part of its stake in Liberty Health Sciences Inc. as it works to reduce its investments in United States. Story
Agro sector: Top U.S. grains merchant Archer Daniels Midland Co could reach an agreement to buy smaller rival Bunge Ltd as early as this week, Bloomberg reported on Monday, citing unnamed sources familiar with the matter. Story (for subscribers)
U.S. venture financing: Health care startup Paige.ai today announced it has raised US$25 million to continue its work in cancer diagnosis with help from computer vision trained with clinical imaging data. Datasets relating to treatment and genomics will also be included in the company's deep learning models. Initial work by Paige.ai will center on the detection of breast, prostate, and other major cancers. VentureBeat
WHAT WE'RE READING ELSEWHERE
Actives fight back: In a world where investors are flocking to dirt-cheap index funds and comparatively low-cost smart-beta and quantitative options, active managers are under intense scrutiny to outperform — and earn their heftier fees. To that end, they're looking to a slew of new tools, including portfolio analytics software, to help them gain an edge in the cutthroat environment. Institutional Investor
MiFID II hasn't helped transparency: The head of fixed income at Nykredit Asset Management is wondering what happened to the nice, transparent mortgage-bond market in which he's a veteran investor. Since Europe rolled out a revision to its Markets in Financial Instruments Directive last month, a single go-to venue for bond prices has been replaced by a more fragmented setup, according to Henrik Jorgensen, who oversees about US$19 billion from his Nykredit office in Copenhagen. Bloomberg
IN CASE YOU MISSED IT
Chasing the high: Why Canada's pot stock boom just doesn't add up. Story (Andrew Willis, for subscribers)