Ontario Teachers’ backs Databricks in US$5B financing
The round values the San Francisco-based tech firm at US$190 billion. Other investors include major financial services firms and sovereign wealth funds. (The Logic)
The round values the San Francisco-based tech firm at US$190 billion. Other investors include major financial services firms and sovereign wealth funds. (The Logic)
The satellite communications company’s red ink came mainly from accounting, not operations—currency fluctuations, for instance, and a big charge it booked on the value of share warrants because, ironically, their value went up. Nevertheless, revenue from Telesat’s geostationary satellite business, its main source of income, declined by 26 per cent, year over year; its long-planned low-orbit Lightspeed constellation has yielded cause for optimism but no commercial revenue. (The Logic)
Chief financial officer Nicholas Goodman said on an earnings call that the investment giant is retaining its historical strategy of “taking on moderate amounts of risk” in its recent deals, such as joining Nvidia’s US$500 billion funding consortium. While the conglomerate’s net income dropped 33 per cent during the second quarter, the net income attributable to shareholders rose nearly 34 per cent. (The Logic)
In an open letter to the Prime Minister Mark Carney and Culture Minister Marc Miller, 50 Canadian film and television associations asked the government to make sure streaming giants like Netflix and Disney make “meaningful, predictable and enforceable contributions to Canadian programming.” (The Logic)
Quebec’s public pension fund manager trailed its 7.5 per cent benchmark, as losses in private equity offset strong gains in public stocks. Net assets, as of June 30, rose to $552 billion, up from $496 billion a year earlier. (The Logic)
The Ontario-headquartered maker of plane and spacecraft components reported that its most recent quarter saw its revenue increase 22.3 per cent and its net profit more than triple to $19.8 million, compared with the same period last year. But its whole sector is facing “persistent shortages of skilled labour, constrained availability of raw materials and specialized aerospace components and ongoing supply chain bottlenecks,” which are holding back growth, it said in its earnings report. (The Logic)
Calgary-based Stampede Drilling had received $5.7 million in upfront funding from U.S. exploration company Greenland Energy to fund upgrades for a planned Arctic drilling project. The venture has faced strong pushback from Greenland’s government. (The Logic, Financial Times)
The Vancouver-based pharmaceutical company said it plans to use the money from issuing new shares and warrants primarily to fund further development of its own drugs, a newer and more expensive line of business than its work as a research partner for other pharma firms. (The Logic)
The pharmaceutical company, which went public on June 10, reported a nearly 26 per cent decrease in revenue in the quarter that ended June 30, and a quarterly loss of 19 cents per share. Shares fell as much as 6.6 per cent on Wednesday. (The Logic)
The Toronto-based technology rollup reported a $274-million profit to shareholders on $3.34 billion in revenue in the second quarter. That’s up 389 per cent and 17.3 per cent year over year, respectively, but short of analysts’ consensus estimates compiled by Visible Alpha. (The Logic)