Canadian bank headquarters stand on Bay Street in TorontoBrent Lewi
A top official at the Ontario Securities Commission says the Bank of Canada "has its head in the sand" on cryptocurrencies such as bitcoin and ether, making it harder for the provincial watchdog to regulate investment activity in the area. Story Alexandra Posadzki (subscribers)
Two Toronto-based hedge funds are consolidating in the midst of a difficult year for the industry. Andrew McCreath, president and chief executive officer of Forge First Asset Management Inc., said his firm has purchased Sui Generis Investment Partners, which was co-founded by the late Jim Doak. Story Niall McGee (subscribers)
DAILY DEALS
A U.S. alcohol giant's decision to buy a stake in Canopy Growth Corp., Canada's largest cannabis producer, sent marijuana stocks sharply higher on Monday and is expected to spur more cross-industry combinations as well as lure a new class of investors to the emerging industry. Story Brenda Bouw (subscribers)
Telus International is continuing an acquisition spree, announcing a deal Monday to acquire a California-based information technology consulting firm with about 1,800 employees in the United States and India. Story Christine Dobby
White Tale Holdings, the activist investor that thwarted a $20-billion merger between Clariant and U.S. rival Huntsman, on Monday demanded three seats on the Swiss chemical maker's board and an independent strategic review of the business. Story
ON THE MOVE
Cenovus Energy Inc. surprised investors by appointing a former pipeline executive with no operational experience in the oil sands to lead the company's turnaround effort. Story Jeff Lewis
ELSEWHERE IN FINANCIAL SERVICES
HSBC reported rising costs on Monday, sending its shares one per cent lower and taking the shine off a better-than-expected quarterly profit driven by the Asian business that the bank has put at the heart of its growth plans. Story
If a tree falls in the forest and no one's around, does it make a sound? If a bank tries to manipulate an interest-rate benchmark and gets off with a slap on the wrist, does it make a difference? Bloomberg