Former chief operating officer Tim Shortill has left the Healthcare of Ontario Pension Plan after six years at the fund, along with ex-chief risk officer Saskia Goedhart, spokesperson Scott White confirmed to The Logic. HOOPP veteran Linda Halley succeeds Goedhart. The organization doesn’t plan to refill the COO position. (The Logic)
The Saskatchewan Research Council (SRC) rare earth element processing plant is only operating at about 25 per cent of its expected output this year after months of waiting for key equipment. (Bloomberg)
Treasury Board president Shafqat Ali asked ministers to find excess, outdated or replicative regulations in their departments and lay them on the chopping block at a newly established “Red Tape Reduction Office.” (The Logic)
U.S. President Donald Trump’s Tuesday threat to place 50 per cent tariffs on copper imports starting in late July or Aug. 1 has roiled markets. U.S. copper futures contract prices hit record highs Tuesday according to S&P Global, but fell nearly three per cent in New York on Wednesday. (CNBC, The Logic)
Westlake will return to EQB, the owner of Canada’s seventh-largest bank, after leaving to become CFO of Waterloo, Ont.-based OpenText in March. Chief risk officer Marlene Lenarduzzi will remain interim CEO until Aug. 25. (The Logic)
After a years-long legal battle between Toronto-based Spin Master Toys and the maker of Greece’s V-Cube, an EU court found the shape and colours of the classic Rubik’s Cube never should have been registered as a European trademark in the first place. (The Logic)
The company, which aims to help real estate startups reach commercial scale, will use the money to expand partnerships with firms tackling anything from housing affordability to climate-related building. Global engineering giant Hatch led the round, while Toronto real estate investor Oxford Properties, Dorsay Development and LandSure Systems also participated. (The Logic)
Canada’s Big Five banks put pressure on staff to meet targets for mutual fund sales, sometimes causing them to recommend unsuitable products, a report by the Ontario Securities Commission and the Canadian Investment Regulatory Organization found. (The Logic)
George Hoyem will serve on the investment committee of Kensington Capital Partner’s One9 unit. He was previously executive vice-president of investments at In-Q-Tel, retiring last month. (The Logic)
Innovation Credit Growth Fund X will seek returns between 13 and 17 per cent on senior secured venture debt to VC-backed companies, sources told Bloomberg. (Bloomberg)