investments

Open banking could spur competition, but fintechs say Canada’s moving too slowly

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Federal efforts to bring “open banking” to Canada are being welcomed by players in the industry — but there’s also criticism that, after years of waiting, any changes may not come fast enough to encourage innovation or allow smaller financial players compete with larger institutions. Open banking lets consumers or business customers share personal and financial information between approved banks and other … Read more

Are K-pop Stocks Worth Investing in for 2024? Here’s What You Should Know

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The K-pop sector witnessed capital outflows of $8 billion as dating scandals, drug probes, contract issues with top artists, and declining album sales on faltering China demand hit stock prices of the top K-pop music agencies last year. Yuanta Securities forecast that 2024 album sales from the top four agencies will fall 5.3% year-over-year (YoY) … Read more

Liberals pledge $9B in new money for Indigenous communities in 2024 budget

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The Trudeau government is promising $9 billion in new cash for Indigenous communities over the next five years, a smaller spend than some past budgets but one the government says builds on past investments and maintains an upward trend. The plan sparked mixed reviews from Indigenous leaders, with some immediately panning it as a failure and others … Read more

Izzy Englander’s hedge fund sued by rival who claims trade secrets were stolen

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Millennium Management, one of the world’s largest hedge fund firms, was sued on Friday by rival Jane Street Group, which accused it of stealing a valuable in-house trading strategy after two traders defected. Jane Street said the traders Douglas Schadewald and Daniel Spottiswood had been “intimately” involved in developing the strategy before resigning separately to … Read more

‘You’ve Been Lied to About Buying Property’: Multimillionaire On Why He Rents and Refuses To Buy Real Estate

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Buying a house has been a big part of the American Dream. However, multi-millionaire author Ramit Sethi says the numbers indicate otherwise. The host of Netflix’s “How To Get Rich” believes you can sell a house at a profit but still lose money to “phantom costs.” As the New York Times bestselling author of “I … Read more

Indigo agrees to go private after sale to holding company owned by chief executive’s spouse

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Indigo Books & Music Inc. has agreed to be taken private after agreeing to a sweetened offer from a holding company connected to its largest shareholder. The retailer says its agreement will see Trilogy Retail Holdings Inc. and Trilogy Investments L.P. pay $2.50 per share in cash for the stake in Indigo they do not … Read more

Lightspeed Commerce cutting 280 jobs, as it aims for profitable growth

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Lightspeed Commerce is cutting about 280 jobs, less than two months after its founder returned to the helm of the Montreal-based technology company. After integrating the company’s many acquisitions, “Lightspeed is now entering a new phase, one focused on profitable growth to capture the opportunity in front of us,” said founder and chief executive Dax Dasilva. … Read more

Group of Tim Hortons franchisees in Quebec sue brand owner for $18.9M

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Several Quebec Tim Hortons franchisees are taking the brand’s owner to court, blaming what they describe as unreasonable constraints in the company’s licensing agreements for lower-than-expected profits. In a lawsuit filed in Quebec Superior Court on Thursday, 16 companies with Tim Hortons franchise licences allege the TDL Group Corp.’s contracts “place it in a position … Read more

Half of Canadians support TikTok ban, with U.S. concerns ‘trickling’ north, poll suggests

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A new poll suggests 51 per cent of Canadians support banning the social media app TikTok, after a U.S. bill aiming to do just that passed in the House of Representatives. Canada has ordered its own national security review of TikTok, something the Liberal government revealed following passage of the U.S. bill earlier this month. … Read more

Canada’s need to improve productivity has reached emergency level, says Bank of Canada official

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A senior Bank of Canada official says the need to improve productivity has reached an emergency level as the economy faces a future where inflation may be more of a threat than in the past few decades. In a speech, senior deputy governor Carolyn Rogers says an economy with low productivity can only grow so … Read more