Some Toronto-Dominion Bank customers are having problems using its WebBroker internet brokerage service and taking to social media with their complaints.Nathan Denette/The Canadian Press
Good morning,
FINANCIAL SERVICES WRAP
Some of the last megamergers announced in 2017 could offer a clue as to where deal activity will pile up this year. Story (Jacqueline Nelson, for subscribers)
Clients of Canada's largest online retail trading platforms have been frustrated by glitches that have stopped them from buying and selling securities over the past few days. Story (Christina Pellegrini and James Bradshaw, for subscribers)
The Mercer consulting group says defined-benefit pension plans in Canada generally ended 2017 in better financial condition than they've experienced for most of the past decade. Story
Are we, as Canadians, going to continue with half measures that fail to make a significant impact on our commitment to finance our innovative economy? Unless we are willing to debate openly the merits of similar strategies to those adopted elsewhere, we run the risk of failing to fulfill our full potential as a leading innovative economy, which includes a leading fintech sector. Surely we are up for this most important of public policy challenges. Opinion
DEAL WRAP
Brookfield Asset Management Inc. beat the fundraising target for its first infrastructure debt fund as Canada's largest alternative-asset manager looks to capitalize on the retreat of traditional banks from leveraged finance. Story
Apple Inc. has staked its first presence in Vancouver with the purchase of Buddybuild, a three-year-old startup that designs software tools for mobile app developers. Story (David Ebner)
Toronto-based Rubikloud has raised a $46 million Series B led by Intel Capital. Existing investors Horizons Ventures and Access Industries also participated in the round, and Canadian investors iNovia Capital and OTEAF are joining as new investors. Betakit
Stingray Digital Group Inc. has acquired Qello Concerts, an over-the-top streaming service for on-demand concerts and music documentaries. Story
Canada Pension Plan Investment Board (CPPIB), Singapore wealth fund GIC and property owner Scion Group LLC said on Wednesday their student housing joint venture had bought 24 U.S. student housing properties for $1.1-billion (U.S.). Story
Ant Financial's plan to acquire U.S. money transfer company MoneyGram International Inc collapsed on Tuesday after a U.S. government panel rejected it over national security concerns, the most high-profile Chinese deal to be torpedoed under the administration of U.S. President Donald Trump. Story
Dominion Energy Inc said on Wednesday it would buy Scana Corp. in an all-stock deal worth about $7.9-billion (U.S.), offering the utility a way out of dealing with unhappy customers and federal investigations following a failed nuclear project. Story
Shares in newly formed Canadian fertilizer giant Nutrien Ltd. rose on its second day of trading Wednesday after CIBC assigned it an "outperformer" rating and set a 12-month price target of $62 (U.S.). Story
CanniMed Therapeutics Inc. is urging its shareholders to reject a hostile takeover bid by competitor Aurora Cannabis Inc., admonishing the value of the proposed deal and its effect on its share price. Story
Drinks bottler Refresco is willing to offer remedies to concerns voiced by Britain's Competition and Markets Authority (CMA) over the Dutch company's $1.25-billion (U.S.) acquisition of Cott Corp's bottling activities. Story (for subscribers)
Spectrum Brands Holding Inc said on Wednesday it is exploring strategic options, including a sale, for its unit that sells brands such as George Foreman cookware and Rayovac batteries. Story
WHAT WE'RE READING ELSEWHERE
MiFID II came to life. And belying its billing as a "Big Bang" that would cause disruption as it transforms the European Union's financial markets, its first day turned out to be more of a whimper as traders waited to see how the shakeup panned out. Here are five things we learned: Bloomberg
IN CASE YOU MISSED IT
Michael Watson: The Globe and Mail's recent series on market fraud highlights the major problems facing enforcement agencies. There is no lack of will or ability on the part of those tasked with the job of protecting investors. Their lot is one of frustration about the limitations that prevent them from getting the job done. Opinion