Aiden Arrival uses trading and market data to help the bank’s Canadian and U.S. equity-trading clients minimize the difference between the price when an order is placed and when it is executed. (The Logic)
The Calgary-based cryptocurrency-trading platform may have narrowly dodged a bullet by backing out of its previously announced deal to be acquired by the beleaguered Bahamas-based exchange before it closed, but Bitvo CEO Pamela Draper said in an email to The Logic she’s still open to the possibility of selling, were someone else to express interest. “Will we consider selling to another buyer? Possibly and opportunistically.” (The Logic)
The Toronto-based gaming company posted third-quarter revenue of $50.6 million, but its net loss tripled year over year. Enthusiast also said its board committee tasked with searching for a new CEO has retained a U.S. recruitment firm as its five-month-long quest for a new leader continues. (The Logic)
The Vancouver-based provider of virtual health care and practice-management software spent over $9 million more than the $27.5 million in revenue it reported making in its third quarter. CEO Karen Adams said that “the end of one-time mandates and COVID-related government contracts … overshadowed the growth and resilience of our recurring revenue core business.” (The Logic)
The Toronto-based asset manager’s sustainability arm is teaming up with U.S. investment firm Closed Loop Partners to form Circular Services—a merger of five companies in the Closed Loop portfolio. The entity will manage recycling for seven U.S. states. (Bloomberg)
Environment Minister Steven Guilbeault said Canada will not increase the target for how much to raise from rich countries to help developing nations cope with climate change. Canada and Germany were tasked with raising US$100 billion per year for the effort by 2020, a deadline they missed and have since pushed to 2023. The actual amount of climate financing developing countries need is closer to US$1 trillion, according to a new report from the U.K. and Egypt. (The Logic)
Export Development Canada led the round, marking its first investment in the company, while Ontario Teachers’ Pension Plan also participated. The Calgary-based warehouse robotics startup said it has now raised a total of US$165.1 million. (The Logic)
The RCMP have accused Wang Yuesheng of obtaining “trade secrets to benefit the People's Republic of China, to the detriment of Canada's economic interests.” (The Logic)
Initiating commercial disputes and “pushing for decoupling and severing supply chains” is counterproductive, China’s President Xi Jinping said, according to a statement from the foreign ministry. U.S. President Joe Biden said his country will “continue to compete vigorously” with China, including via domestic spending and international alliances, according to the White House readout. (Bloomberg, The Logic)
The Vancouver-telecom attempted to influence political leaders in an effort to “kill, slow and shape” Rogers’s proposed $26-billion takeover of Shaw, according to a presentation made to Telus’s board on Aug. 4 that became public during the Competition Tribunal’s review. (The Globe and Mail)