Some Bank of Nova Scotia customers began seeing “zombie” accounts on their online statements as a technical glitch caused an undisclosed number of deactivated credit cards to reappear.Frank Gunn/The Canadian Press
Some Bank of Nova Scotia customers began seeing "zombie" accounts on their online statements as a technical glitch caused an undisclosed number of deactivated credit cards to reappear. The error is occuring because of the bank's purchase of two million active MasterCard credit cards associated with Sears Canada Inc. Story (James Bradshaw)
Canada's securities regulators banned short-term binary options but are warning of enforcement challenges that they'll face because of the global nature of the asset-performance wagers that are frequently fraudulent. Story (Josh O'Kane)
DAILY DEALS
Roku Inc., a video streaming firm backed by Fox, saw its shares increase 17 per cent in its market debut. The company has a market capitalization of $1.55-billion and gave the U.S. IPO market a jolt after a lacklustre recent history. Story
In a bid for an IPO, Aramco, Saudi Arabia's nationalized oil producer, is rethinking its OPEC policy, a mindset change that was once thought unthinnkable. The kingdom's officials were given approval by the highest levels of government to quit the group altogether as a bargaining chip in OPEC talks. Story
Ride-hailing giant Lyft is close to selecting an IPO adviser, the first concrete step by the company to become publicly listed. The move would give the company access to capital beyond private investment at a time when its primary competitor Uber has faced a tumultuous year. Reuters
Analytics 4 Life has announced a completed $25 million Series B round of funding. The Toronto-based digital health company uses AI to create and develop solutions that improve already implemented care pathways. Techvibes
Dublin-based careers marketplace Jobbio has raised a $18 million Series A as it looks to scale in the UK and Canada. Betakit
Kinova Inc., a designer and manufacturer of robotic solutions, has raised $25 million in growth equity funding led by Fonds Manufacturier Québécois S.E.C. II (QMF II), KTB Network Co., Ltd. of South Korea, with participation of Foxconn of Taiwan and BDC Capital. Private Capital Journal
It turns out Angry Birds is a billion-dollar idea. Rovio Entertainment, the company behind the Angry Birds empire that encompasses video games, films and merchandise, was valued at about $1 billion (U.S.) as it prepared to go public on Friday. New York Times
ELSEWHERE IN FINANCIAL SERVICES
Greg Parker, who joined alternative mortgage lender Home Capital in July, is leaving the company and his newly-established position of executive vice-president of strategy. Story.
Lloyd's of London, the world's leading insurance market, is expecting net losses of $4.5-billion (U.S) in the aftermath of hurricanes Harvey and Irma, which ravaged the Caribbean and the U.S. earlier this year. The company says the first half of 2017 saw little claim activity, wheras the second half has seen major natural disasters. Story
U.S. rapper Snoop Dogg is investing in yet another Canadian cannabis venture. This time, his venture capital firm is leading Toronto-based Trellis' $2-million (U.S) seed round. Trellis proivdes inventory management software. Story
WHAT WE'RE READING
Record sums of unspent capital, cheap debt and highly favourable borrowing terms have pushed the value of global private equity transactions to $212 billion (U.S.), its highest level since the boom years of a decade ago. Financial Times
Toronto, where home prices have risen 50 percent over the past five years, faces the highest risk of a housing bubble among 20 global financial centers, according to a UBS report released on Thursday. Reuters
Minister of Canadian Heritage Mélanie Joly today announced the government's new approach to cultural policy called Creative Canada, which wants to encourage Canadian content in a digital world. As part of her speech, Joly said that Facebook, the DMZ, and the Ryerson School of Journalism would partner to launch a digital news incubator. Betakit