Scotiabank commits more than $100B to fund Canadian businesses
The bank will spend the money over five years to support Canadian companies and projects that “will drive forward Canada's economic growth agenda,” according to a release. (The Logic)
The bank will spend the money over five years to support Canadian companies and projects that “will drive forward Canada's economic growth agenda,” according to a release. (The Logic)
The deal with Potentia Renewables for Saskatchewan’s largest active wind farm—a field of 50 wind turbines known as the Golden South Wind Project—is worth a reported several hundred million dollars. (Bloomberg)
Google’s Owlchemy Labs will use the Edmonton-based startup’s technology to launch a single-player mode of its virtual reality game Dimensional Double Shift in the first half of 2027. (The Logic)
The Toronto- and London-based firm, co-led by former Canada Pension Plan Investment Board CEO Mark Machin, along with Mark Shulgan and Ajay Agrawal, closed the fund at US$25 million above its target. Intrepid’s limited partners include Temasek, Abu Dhabi Investment Council, British Business Bank, Export Development Canada and Business Development Bank of Canada. (The Logic)
Investors have already been able to get rulings on how the agency will tax the income from new investments, but the CRA will bump requests on projects worth more than $1 billion to the front of the line, Finance Minister François-Philippe Champagne said Monday. In their spring economic update, the Liberals promised quick CRA treatment for major nation-building projects, but the $1-billion threshold is new. (The Logic)
The company, best known for its currency exchange and international money transfers, launched the no-fee product that replicates the features of a traditional chequing account at a new pop up “branch” at Toronto’s Eaton Centre mall. (The Logic)
The consumer price index increased three per cent in August from a year earlier, matching the previous month, Statistics Canada reported. The surge in gasoline prices slowed to 22.8 per cent from 25.7 per cent in July, when U.S. attempts to end the Iran war fell apart. (The Logic)
The Toronto-based AI firm is in advanced discussions with investors for a new funding round of US$2 billion to US$3 billion at a US$20-billion valuation, which could include financing from the Canadian and German governments, sources told The Globe and Mail. Cohere did not respond to a request for comment from The Logic. (The Globe and Mail, The Logic)
The automaker signed a memorandum of understanding with Ontario-based Roshel to sell the Brampton assembly plant that’s been idle since 2023. Unifor, which represents Canadian Stellantis workers, said Friday it has paused contract talks, citing an impasse over the future of the plant. (The Canadian Press)
Toronto-based Altas Partners and Connecticut firm L Catterton are buying a majority stake in the Ottawa-based company from U.S. firms HGGC and Snapdragon Capital Partners. The firms did not disclose the purchase price or other terms of the deal. (The Logic)