Here are the top reads on deals and financial services over the last 24 hours,
Federal budget 2019: Liberals raise stock option taxes on high-paid executives: The federal government dusted off an old campaign promise Tuesday by pledging in the budget to increase taxation on the stock option gains of some of Canada’s most highly paid executives, a move seen as an attempt to siphon support from the New Democratic Party. “It’s a political move going into [this fall’s] election … they’re doing this to outfight the NDP,” said Toby Sanger, executive director of Canadians for Tax Fairness, a lobby group primarily funded by labour organizations. “They’re going after the 1 per cent” – the highest-income earners in the country. Story (Sean Silcoff, for subscribers)
Caisse launches $250-million AI-focused fund: Caisse de dépôt et placement du Québec is earmarking $250-million for new investments in growing artificial-intelligence companies to help promote that emerging sector of Quebec tech. Story (David Milstead, for subscribers)
Energy bull Eric Nuttal calling for share buybacks in the ailing energy sector: One of Bay Street’s biggest energy bulls is urging CEOs in the industry to plow money into major share buybacks as investors eschew the stocks. Story (Jeffrey Jones, for subscribers)
Founder and chairman of Northland Power selling part of his stake in company: The chairman and founder of Northland Power is selling $750-million worth of his stake in the company through a secondary offering. James Temerty is selling 32,120,000 of his shares of the Toronto-based green-energy company he founded in 1987 for $23.35 a piece. Story (Alexandra Posadzki, for subscribers)
MORE FINANCIAL SERVICES NEWS
Money Laundering: Two U.S. law firms have filed a lawsuit against Danske Bank on behalf of institutional investors over a €200-billion (US$227.1-billion) money laundering scandal. Story
MORE DEALS NEWS
IPO: Lyft Inc’s initial public offering (IPO) is oversubscribed based on commitments made so far by investors, making it more likely that the ride-hailing startup will fetch or even exceed the $23 billion (17.3 billion pounds) valuation it is seeking, people familiar with the matter said on Tuesday. Story
IPO: In San Francisco, where startups dream of populating the world with self-driving cars and robots, another breed of company is aiming for riches this week: Levi Strauss & Co. The maker of denim and Dockers, which traces its roots to the California Gold Rush, Levi’s is expected to start trading on the public markets Thursday for the second time in its 165-year history. Story
The Streetwise newsletter is Tuesday to Saturday. 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.