A street car is seen at the intersection of Bay and King streets in the financial district of Toronto, Jan. 22, 2015Mark Blinch/The Globe and Mail
The takeover of Canadian forest products company Tembec Inc. by Jacksonville, Fla.-based Rayonier Advanced Materials has been thrown into doubt as major shareholders of the Quebec firm voice their opposition to the friendly $807-million (U.S.) deal. Story (for subscribers)
Trading revenue at some major Wall Street firms tumbled in the second quarter, as low volatility across the fixed-income market resulted in fewer securities changing hands. These results may not bode well for firms based north of the border. Story (for subscribers)
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Toronto accounting and invoicing software startup FreshBooks has raised an additional $54-million in venture capital from Canadian firm Georgian Partners, with participation from U.S. investors Accomplice and Oak Investment Partners. Story (for subscribers)
Anglo-Australian mining colossus Rio Tinto Group still could take a run at Dominion Diamond Corp., which only Monday agreed to a $1.2-billion (U.S.) buyout from Washington Cos. Story (for subscribers)
As Joe Natale prepares to update investors on his first quarter at Rogers Communications Inc., the new chief executive officer is searching for a replacement for one of his top lieutenants. Story
WHAT WE'RE READING
Netflix executives are hitting bonus targets with almost uncanny accuracy, raising questions over whether they are a fait accompli. Story (Financial Times, subscription required)
Toronto-based Flybits has raised a $6.5-million in Series B financing led by Information Venture Partners. Story (Betakit)
Ontario Teachers' Pension Plan has bought Mémora Group, an Iberian funeral services provider, from British private equity firm 3i Group. Story (PEHub)
IN CASE YOU MISSED IT
Ottawa has unveiled a series of new measures to rein in the ability of high-income Canadians to use private corporations to reduce their tax bills, including those who pay out dividends to family members in lower tax brackets. Story
Andrew Willis: Why you shouldn't buy into the pot boom and bust. Video