Apollo, KKR and Blackstone are reportedly competing to buy part of Shell’s stake in the B.C. natural gas facility, in a deal worth between US$10 billion and US$15 billion. The companies declined to comment to Reuters. (Reuters)
Mashinsky, who is serving a 12-year prison sentence after pleading guilty to fraud after investors around the world—including La Caisse—put US$25 billion into the failed crypto platform, is also permanently banned from the crypto and financial services industries as part of the settlement. (The Logic)
The e-commerce platform is seeking money transmitter licenses, which let a company hold and move money, across the U.S. and has secured them in 18 states and Puerto Rico so far. (The Information)
The Department of Finance said on Wednesday that participating countries unanimously supported Canada as host of the Defence, Security and Resilience Bank (DSRB), pending ratification—reflecting its role as the initiative’s only vocal backer. The endorsement follows initial negotiations last month in Montreal, where 18 nations began drafting the bank’s governance and operations. (The Logic)
Arca, whose technology helps remove and store carbon from industrial waste, will offer carbon credits on the New York-based carbon management firm’s platform. (The Logic)
The jetmaker’s net income was US$53 million in its most recent quarter, up by 20 per cent from the same quarter the previous year, and it revised its expected free cash flow for 2026 to more than US$1 billion, from a previous range of US$600 million to US$1 billion. (The Logic)
The Montreal payments company said Wednesday it offloaded the business to Miami- and L.A.-based Skyview Equity for up to US$81 million—a steep discount to the roughly US$430 million Lightspeed paid in 2020—as it accelerates efforts to streamline its business and refocus on higher-growth segments. (The Logic)
The South Korean military contractor said it would start a joint venture with the Automotive Parts Manufacturers’ Association, under a Canadian CEO, to make tank-like infantry fighting vehicles, self-propelled howitzers and ammunition carriers, ground-based drones and rocket-launching trucks—if the federal government picks Hanwha’s subs for the navy. (The Logic)
General Motors’ St. Catharines, Ont., plant will get new equipment and become one of three GM plants to produce truck and SUV engines, joining U.S. plants in Buffalo, N.Y., and Flint, Mich. (The Logic)
In their spring economic update, the federal Liberals said the forthcoming ban on the widely available machines, which let people convert cash into crypto, is intended to combat “a primary method for scammers to defraud victims.” (The Logic)